T.W. Phillips Pipeline Corp.

Original Volume No. 1

Effective Date: 01/01/2010, Docket: RP10-141-000, Status: Effective

Original Sheet No. 67 Original Sheet No. 67

GENERAL TERMS AND CONDITIONS

(Continued)

b) For biddable releases (one (1) year or more)

The timeline is the same as biddable releases for less than one

(1) year except that the Releasing Shipper shall post the Shipper

Notice on the Website by 12:00 p.m. Central Time four (4) business

days before award for long-term release. Open Season ends no

later than 1:00 p.m. Central Time on the business day before

timely nominations are due (Open Season is three (3) business days).

22.4.3. For the capacity release business process timing model in this section,

only the following methodologies are supported by Transporter and pro-

vided to Releasing Shippers as choices from which they may select and,

once chosen, should be used in determining the awards from the bid(s)

submitted. They are: (1) highest rate, (2) net revenue, and (3) present

value. Other choices of bid evaluation methodology (including other

releasing shipper defined evaluation methodologies) can be accorded

similar timeline evaluation treatment at the discretion of Transporter.

However, Transporter is not required to offer other choices or similar

timeline treatment for other choices, nor is Transporter held to the

timeline should the Releasing Shipper elect another method of evaluation.

22.4.4. All bids must be expressed in dollars and cents or percents of maximum

rate, whichever is stated in the Shipper Notice, include the required bid

information and must be received and posted electronically through the

Website. Bids shall be posted on the Website with any contingencies

identified and with the bidder’s identity deleted.

22.4.5. A bidder may submit only one bid at a time in response to a Shipper

Notice. A bidder may withdraw its bid through the Website at any time

prior to the close of the posting period specified in the Shipper Notice

without prejudice to its submitting another bid with an economic value

equal to or greater than the economic value of the withdrawn bid.

22.4.6. Where there is a PRS and an offer which is better than the bid submitted

by the PRS, Transporter will notify the PRS by 2:00 p.m. Central Time on

the day capacity is awarded and the PRS will have until 2:30 p.m. to

match the better offer and obtain the right to the released capacity.

In the event the PRS does not match the better bid, Transporter shall

award the capacity to the party who made the best bid.