Panhandle Eastern Pipe Line Company

First Revised Volume No. 1

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Effective Date: 01/25/1996, Docket: RP95-397-000, Status: Effective

First Revised Sheet No. 321L First Revised Sheet No. 321L : Superseded

Superseding: Sub Original Sheet No. 321L

GENERAL TERMS AND CONDITIONS

(Continued)

(2) If Panhandle's actual collections hereunder

shall equal or exceed its Unrecovered PGA

Costs, Panhandle shall file to terminate

further collections hereunder and to refund

the amount of any excess collected to all

Shippers affected hereby in proportion to the

principal amount of actual Unrecovered PGA

costs which they have paid during the Section

18.12 Recovery Period. Within thirty (30)

days of the Commission's approval of such

filing, refunds, with applicable carrying

charges calculated in accordance with Section

154.67(c) of the Commission's Regulations,

shall be paid. In addition, Panhandle will

submit a report to the Commission setting out

a comparison of its Unrecovered PGA costs and

the amounts collected hereunder and any

repayments actually made.

(3) If Panhandle's actual collections hereunder

are less than its Unrecovered PGA Costs,

Panhandle shall file to recover such

deficiency, including carrying charges

calculated in accordance with Section

154.67(c) of the Commission's Regulations,

during the Section 18.12 Reconciliation

Recovery Period by filing with the Commission

Unrecovered PGA Reservation Surcharges and

interruptible Volumetric Surcharges. The

Unrecovered PGA Cost Reservation Surcharge

will be determined by dividing the remaining

Unrecovered PGA Costs attributable to firm

services to be recovered through the

Unrecovered PGA Reservation Surcharge by the

design billing determinants underlying

Panhandle's then-effective rates applicable

to Rate Schedules FT, EFT, SCT and LFT. The

Unrecovered PGA Costs Volumetric Surcharge

shall be determined by dividing the remaining

Unrecovered PGA Costs attributable to

interruptible services by the applicable

interruptible service design determinants

underlying Panhandle's then-effective rates.