Texas Eastern Transmission Corporation

Sixth Revised Volume No. 1

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Effective Date: 04/01/1997, Docket: RP97- 3-002, Status: Effective

Fourth Revised Sheet No. 467 Fourth Revised Sheet No. 467 : Superseded

Superseding: Third Revised Sheet No. 467

GENERAL TERMS AND CONDITIONS

(Continued)

 

of thirty-one (31) days or less for which Customer has

obtained a Prearranged Customer and Customer elects not

to post such proposed capacity release for bidding

pursuant to Section 3.14(B), or for capacity releases

of any duration for which Customer has obtained a

Prearranged Customer and such Prearranged Customer is

paying the maximum rate and all other conditions are

met, which shall not be subject to bidding but only

posting, not later than forty-eight (48) hours after

the finalization of all contractual arrangements. All

terms and conditions of completed capacity release

transactions will be posted on the LINKþ System and,

where applicable, by electronic data interchange in

accordance with Section 2.2 of the General Terms and

Conditions, including the names of the Customers

involved in the capacity release transaction.

Pipeline, when requested by the Customer, may take

other action to market any released capacity. The

Customer may search for any party to take its capacity

both before and after such capacity is posted on the

LINKþ System or, where applicable, by electronic data

interchange. However, such capacity release shall not

be consummated until after it is posted. Contracting

is done directly with Pipeline.

 

(E) Allocation of Released Capacity:

 

Pipeline shall select the "best bid" as defined in Section

3.14(F) from among the bids received. However, if more than

one bidder submits the "best bid," the first bidder in time,

inclusive of the Prearranged Customer, shall be selected and

posted as the "best bid", unless the Customer specifies

another tie-breaking methodology in its Customer's Notice.

If multiple bids meeting minimum conditions have been

submitted, bids shall be awarded, best bid first, until all

offered capacity is awarded. Any bid submitted for released

capacity pursuant to Section 3.14(B) may state that its

acceptance is contingent; provided, the Customer's Notice

allows the submission of contingent bids pursuant to Section

3.14(D)(1)(j). Any Replacement Customer may make an upward

revision to or withdraw its bid during the Bid Period

through the LINKþ System or, where applicable, through

electronic data interchange; provided, Pipeline will allow

any Prearranged Customer to match, in accordance with

Section 3.14(B), the "best bid" after the close of the Bid

Period; however, if Replacement Customer submits more than

one bid for the same capacity, the lower bid will

automatically expire. Replacement Customer shall not have

the opportunity to use its ability to withdraw its bid in

order to submit a lower bid.