Panhandle Eastern Pipe Line Company

First Revised Volume No. 1

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Effective Date: 07/10/2000, Docket: RP00-162-000, Status: Effective

Fourth Revised Sheet No. 321S Fourth Revised Sheet No. 321S : Superseded

Superseding: Third Revised Sheet No. 321S

GENERAL TERMS AND CONDITIONS (Continued)

(2) "Miscellaneous Stranded Cost Volumetric

Surcharge" shall mean the currently effective

surcharge applicable to service under Rate

Schedules IT and EIT, as shown on Tariff

Sheet Nos. 7 and 8 of First Revised Volume

No. 1.

(3) "Section 18.14 Recovery Period" shall mean

the three (3) year period which shall

commence upon the effective date of the

filing to recover the eligible Miscellaneous

Stranded Costs.

(4) "Section 18.14 Reconciliation Recovery

Period" shall mean the twelve (12) months

commencing on the first day of the month

following Commission approval of Panhandle's

Reconciliation filing as provided for in

Section 18.14(g).

(5) "Levelized Interest" shall mean the interest

amount resulting from the projected

amortization of the Miscellaneous Stranded

Costs over the Section 18.14 Recovery Period

in accordance with Section 154.501(d) of the

Commission's Regulations.

(d) Mechanism for Recovery of Miscellaneous Stranded

Costs

Ninety percent (90%) of Panhandle's Miscellaneous

Stranded Costs, including Levelized Interest,

shall be recovered by means of the Miscellaneous

Stranded Costs Reservation Surcharge. The

Miscellaneous Stranded Costs Reservation

Surcharge applicable to service under Rate

Schedule SCT shall be converted to a Volumetric

Surcharge at a 52.5% load factor. The

Miscellaneous Stranded Costs Reservation

Surcharge shall be stated on effective Tariff

Sheet Nos. 4, 5, 6, 15 and 17 of Panhandle's FERC

Gas Tariff, First Revised Volume No. 1 and shall

become a part of the stated rates for service

provided under such Rate Schedules.