Petal Gas Storage Company

Original Volume No. 1

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 10/01/2002, Docket: RP02-435-000, Status: Pending

Fourth Revised Sheet No. 7 Fourth Revised Sheet No. 7 : Pending

Superseding: Third Revised Sheet No. 7

 

 

FSS RATE SCHEDULE

FIRM STORAGE SERVICE (Continued)

 

 

4.2 Obligations of Customers for Payment of Charges.

 

A Customer (including a Replacement Customer), who releases its right

to capacity on any basis for a period less than the remaining term of

the original Customer's FSS Agreement, remains responsible for

compliance with all terms and conditions of such Agreement, which shall

remain in effect, and for payment to Petal of the amount of any Storage

Capacity and Deliverability Charge not paid by the Replacement

Customer. A Customer (including a Replacement Customer) who releases

its right to capacity for the full remaining term of such original

Customer's FSS Agreement, shall be released from its obligations under

such Agreement subject to the following conditions: First, upon

obtaining the consent of Petal, which consent shall not be unreasonably

withheld, and second, upon receiving the approval of Petal's

lenders/note holders.

 

4.3 Notification to Petal.

 

To release its capacity rights, a Customer must notify Petal in writing

or via Petal's Internet website of the terms and conditions of the

release. The notification must include:

 

(a) The Releasing Customer's name, contract number, and phone number

of the individual responsible for authorizing the release of

capacity.

 

(b) The effective date(s) of the release.

 

(c) The volume(s) subject to release.

 

(d) The MDIQs, TMDIQ, MDWQs and TMDWQ subject to release.

 

(e) The minimum acceptable rate(s). NAESB Standard 5.3.26 (Version

1.5) states: Releasing Customer has the choice to specify dollars

and cents or percents of maximum tariff rate in the denomination of

bids and all transportation service providers should support this.

Once the choice is made by the Releasing Customer, the bids shall

comport with the choice.

 

(f) Whether the capacity is offered on a permanent or temporary basis,

and on a firm or recallable basis. If on a recallable basis,

include the conditions, if any, upon which the Releasing Customer

may recall the capacity.

 

(g) The criteria by which Petal shall evaluate the bids. A Releasing

Customer may select: 1) the present-value formula specified in

Section 4.2 of the General Terms and Conditions of this Tariff, 2)

net revenue, 3) highest rate, or 4) state its own nondiscriminatory

criteria, subject to Petal's approval.

 

(h) The method by which capacity shall be awarded if tied bids are

received. If no method for awarding capacity to tied bids is

specified, the capacity will be awarded