Caledonia Gas And Storage

Original Volume No. 1

Effective Date: 05/01/2007, Docket: CP05- 15-003, Status: Effective

Original Sheet No. 45 Original Sheet No. 45 : Effective

The Capacity Release timeline is applicable if (i) all

information provided by the parties to the transaction is valid and the

Replacement Customer has been determined to be creditworthy before the capacity

release bid is tendered and (ii) there are no special terms or conditions of

the release.

The Capacity Release timeline is as follows:

(a) For biddable releases of less than one (1) year:

Offers shall be tendered by 12:00 p.m. C.C.T. an a Business Day;

The bid period shall end at 1:00 p.m. C.C.T. on the same Business Day;

Evaluation period begins at 1:00 p.m. C.C.T. on the day the bid period ends,

during which contingency is eliminated, determination of best bid is made, and

ties are broken;

Evaluation period ends and award is posted if no match is required at 2:00

p.m. C.C.T. the same day;

Match or award is communicated by 2:00 p.m. C.C.T;

If the Prearranged Customer’s bid is not the "best bid", Caledonia shall allow

such Prearranged Customer a matching period of thirty (30) minutes from 2:00

p.m. until 2:30 p.m. C.C.T. on the day the Bid Period ends, or such later time

as specified in the Releasing Customer’s offer, to determine whether to match

the "best bid" and to notify Caledonia of its decision.

If a match is required, the award will be posted by 3:00 p.m. C.C.T.

Caledonia will issue a contract within one hour of the award posting (with a

new contract number, when applicable). Nominations for Gas flow are possible

beginning at the next available nomination cycle for the effective date of the

contract. Such nominations will be processed in accordance with the nomination

and scheduling requirements of Section 5 of the General Terms and Conditions;

however, in no circumstance will Gas flow prior to the effective date of the

release as specified in Releasing Customer’s offer.

(b) For biddable releases of one year or longer:

Offers shall be tendered by 12:00 p.m. C.C.T. four Business Days before the

award;

The bid period shall end at 1:00 p.m. C.C.T. on the Business Day before timely

nominations are due (open season is three Business

Days);

Evaluation period begins at 1:00 p.m. C.C.T. on the day the bid period ends,

during which contingency is eliminated, determination of best bid is made, and

ties are broken;

Evaluation period ends and award is posted if no match is required at 2:00

p.m. C.C.T. the same day;

Match or award is communicated by 2:00 p.m. C.C.T.;