Texas Eastern Transmission Corporation

Sixth Revised Volume No. 1

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Effective Date: 03/27/2000, Docket: RP00-535-000, Status: Suspended

Fifth Revised Sheet No. 467 Fifth Revised Sheet No. 467 : Suspended

Superseding: Fourth 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; provided, however, through September 30,

2002, or any later date established by the Commission, any proposed

capacity release transaction with a duration greater than thirty-one (31)

days and less than one (1) year must be posted for bidding, regardless of

the proposed rate. All terms and conditions of completed capacity release

transactions will be posted on the LINK® 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 LINK® 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 LINK® 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.