Cove Point LNG Limited Partnership

Second Revised Volume No. 1

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Effective Date: 07/01/2002, Docket: RP00-486-001, Status: Effective

Original Sheet No. 128B Original Sheet No. 128B : Effective

 

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

 

10. RELEASE AND ASSIGNMENT OF SERVICE RIGHTS (Continued)

 

(c) Bidding.

 

(1) Potential Assignees shall submit bids for released capacity which comport with

the methodology of the release notice stated in ten thousandths of one dollar

($0.0000) per Dth per month for reservation charges and for all demand

surcharges, or in hundredths of one cent (0.00¢) per Dth for one-part volumetric

rate bids or a percent of maximum, accompanied by a valid Bid for Capacity

Release Form in the form included in this Tariff. Bids submitted for a permanent

release shall be submitted on a valid Request for Service Form as set forth in

Section 3 (Requests for Service) of the General Terms and Conditions. Such bids

shall (i) be electronically submitted to Operator's EBB and displayed when

complete (without revealing the identity of the bidder) during the bidding

period, (ii) be submitted by potential Assignees in a manner prescribed by

Operator, and (iii) be in accordance with Releasor's specifications, and

specifically reference the capacity for which the bid is being submitted.

 

(2) A potential Assignee responding to the posting of a Release Notice shall be

permitted to bid a contingent bid, provided, however, that the Releasor may

reject that bid on the basis of the contingency.

 

(3) Bids shall be submitted by potential Assignees without bidders knowing the

identities of other bidders. A bidder may submit multiple bids, or may withdraw

its bid during the posting period established in Section 10(b)(3). A potential

Assignee which has withdrawn its bid may submit a new bid only if it is for a

higher economic value than the withdrawn bid.

 

(4) All bidders must meet Operator's creditworthiness standards, as described at

Section 3 (Requests for Service) and Section 6 (Operating Conditions) of the

General Terms and Conditions. Any potential Assignee must demonstrate its

creditworthiness to Operator, and may do so in advance of bidding by submitting a

request for service to Operator and furnishing the data required by Section 3.