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Fourth Revised Sheet No. 321V Fourth Revised Sheet No. 321V : Superseded

Superseding: Third Revised Sheet No. 321V

GENERAL TERMS AND CONDITIONS (Continued)

(2) If Panhandle's actual collections hereunder

shall equal or exceed its Miscellaneous Stranded

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 Miscellaneous Stranded Costs which they

have paid during the Section 18.14 Recovery

Period. Within thirty (30) days of the

Commission's approval of Panhandle's filing,

refunds, with applicable carrying costs computed

in accordance with Section 154.501(d) of the

Commission's Regulations, shall be paid. In

addition, Panhandle will submit a report to the

Commission setting out a comparison of its

Miscellaneous Stranded Costs and the actual

amounts collected hereunder and any repayments

actually made.

(3) If Panhandle's actual collections hereunder are

less than its Miscellaneous Stranded Costs,

Panhandle shall file to recover such deficiency,

including carrying charges computed in

accordance with Section 154.501(d) of the

Commission's Regulations, during the Section

18.14 Reconciliation Period by means of

Miscellaneous Stranded Cost Reservation

Surcharges and Miscellaneous Stranded Cost

Volumetric Surcharges. The Miscellaneous

Stranded Cost Reservation Surcharge shall be

determined by dividing the remaining

Miscellaneous Stranded Costs attributable to

firm services by the design billing determinants

underlying Panhandle's then-effective rates

applicable to service under Rate Schedules FT,

EFT, SCT, LFT and HFT. The Miscellaneous

Stranded Cost Reservation Surcharge under Rate

Schedule SCT shall be converted to a Volumetric

Surcharge at a 52.5% load factor. The

Miscellaneous Stranded Cost Volumetric Surcharge

shall be determined by dividing the remaining

Miscellaneous Stranded Costs attributable to

interruptible services by the design billing

determinants underlying Panhandle's then-

effective rates for service under Rate Schedules

IT and EIT.