East Tennessee Natural Gas Company

Second Revised Volume No. 1

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Effective Date: 05/01/2000, Docket: RP00-245-000, Status: Effective

Third Revised Sheet No. 150 Third Revised Sheet No. 150 : Superseded

Superseding: Second Revised Sheet No. 150

 

 

GENERAL TERMS AND CONDITIONS (Continued)

 

 

(d) Transporter makes no representation or warranty to any party

concerning the accuracy or completeness of any posted

information or concerning the willingness or ability of any

Releasing Shipper to release storage rights hereunder or of

any Bidder to accept storage rights hereunder. Transporter

undertakes no obligation to any party by its posting of any

information pursuant to this Section 18 and Transporter

shall not be liable to any party for any damages, of any

nature whatsoever, including without limitation any special,

incidental or consequential damages, or any other kind that

may arise in connection with the posting of information

hereunder, except as provided in the System License

Agreement or Trading Partner Agreement entered into between

Transporter and each user of its System.

 

18.5 Bidding for Storage Rights

 

(a) Persons that desire to bid on released storage rights must

pre-qualify with Transporter by entering into a Released

Storage Service Agreement (for a temporary release) or a

Pre-Assignment Agreement (for a permanent assignment) with

Transporter and by demonstrating credit-worthiness, in the

same manner and subject to the same standards and procedures

as required for firm shippers under Section 6 of

Transporter's General Terms and Conditions. The credit-

worthiness requirement shall be continuing in nature in the

same manner and to the same extent as prescribed for

shippers in Section 6 of Transporter's General Terms and

Conditions. Transporter will waive the credit-worthiness

requirement on a non-discriminatory basis for Bidders on a

Release Request, and permit them to submit Bids, if the

Releasing Shipper provides Transporter with a guarantee

satisfactory to Transporter of all financial obligations of

the Replacement Shipper under its Released Storage Service

Agreement prior to the commencement of service to the

Replacement Shipper.

 

(b) Pre-qualified Bidders may submit Bids during the Bidding

Period applicable to a Release Request. All bids must be

submitted via PASSKEY. In transmitting a bid, Bidders

recognize that such bid will be accessible by other Bidders

via PASSKEY; however, PASSKEY will identify bids by bid

number and the name of the Bidder will not be posted.

 

(c) Bidding will be an iterative process in that a Bidder may

submit any number of Bids during the Bidding Period;

provided that each new submission of a Bid effects the

withdrawal of the previous one such that a Bidder may not

have more than one Bid in contention for the capacity at the

same time. If a Bidder withdraws its Bid, resubmitting a

new one, such new Bid must be at a higher rate. A Bidder

retains the right to withdraw its Bid until the close of the

Bidding Period.