Carnegie Interstate Pipeline Company

Original Volume No. 1

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Effective Date: 01/01/1995, Docket: CP93-552-003, Status: Effective

Original Sheet No. 136 Original Sheet No. 136 : Effective

Superseding: Original Sheet No. 136

GENERAL TERMS AND CONDITIONS

(Continued)

31.3 (Continued)

gas costs includable in

CIPCO's Account No. 191 attributable to gas

purchases by CIPCO prior to October 1,

1993, exclusive of amounts billed under

Section 31.3(b). CIPCO shall direct bill

to NJNG thirty-seven and one half percent

(37.5%) of any such unrecovered amounts

from time to time when such costs are known

and measurable, plus associated carrying

charges computed in accordance with Section

157.67 of the FERC's Regulations. The

amount to be billed to NJNG in CIPCO's

initial billing shall be determined by

applying 37.5% to the actual net balance

remaining in CIPCO's Account No. 191 on

July 31, 1993, as reduced by (1) the total

amount of refunds actually paid by CIPCO to

NJNG pursuant to Section 154.305(i) of the

FERC's Regulations during the twelve-month

period preceding October 1, 1993, and (2)

carrying charges calculated on such refund

amounts in accordance with Section

154.305(h) of the FERC's Regulations from

the date each such refund was paid through

June 30, 1993, and then increasing the

resulting product by the sum of the amounts

from items (1) and (2) above.

(2) CIPCO shall issue a bill for

amounts due from NJNG pursuant to this

Section 31.3(a) which shall be payable ten

(10) days after receipt of the bill.

Interest shall accrue on all amounts not

paid by the tenth (10th) day after receipt

of the bill at the rate computed using the

factors specified in Section 157.67 of the

FERC's Regulations until such time as the

full amount due has been paid. NJNG may

elect to pay such bill amortized over up to

twelve (12) months, by making up to twelve

(12) consecutive monthly payments, each of

which shall be equal to a corresponding

fraction of the amount of the bill. If

NJNG