Stingray Pipeline Company

Third Revised Volume No. 1

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Effective Date: 07/01/2002, Docket: RP00-620-002, Status: Effective

Fourth Revised Sheet No. 133 Fourth Revised Sheet No. 133 : Effective

Superseding: Sub Third Revised Sheet No. 133

 

 

GENERAL TERMS AND CONDITIONS

 

 

11.3 CASHOUT PROCEDURES APPLICABLE TO MINORITY SHIPPERS

 

(a) Any imbalance remaining after the end of

Trading Period will be cashed out on a

tiered basis pursuant to the following

schedule:

 

 

OVERAGE UNDERAGE

IMBALANCE LEVEL (Stingray pays Shipper) (Shipper

pays Stingray)

---------------- ----------------------- ----------

-------------

 

0% to 5% 100% x AMIP 100% x AMIP

 

Greater than

5% to 10% 90% x AMIP 110% x AMIP

 

Greater than

10% to 15% 80% x AMIP 120% x AMIP

 

Greater than

15% to 20% 70% x AMIP 130% x AMIP

 

Greater than 20% 60% x AMIP 140% x AMIP

 

 

Notwithstanding the foregoing, any imbalances

created during a time an Operational Flow Order

has been issued to the benefit of the System

that are remaining at the end of the month will

be separately cashed out at 100% of the AMIP.

 

(b) Following any offsetting with other

Shippers, a Shipper's remaining imbalance

will be cashed out based on the percentage

of that imbalance compared to the total

receipts for that Shipper during the

month. For example, if the total receipts

were 1,000 Dth and the remaining underage

imbalance after offsetting with other

Shippers was 100 Dth, the total Imbalance

Level would be 10%. The first 5% (50 Dth)

would be cashed out at 100% of the AMIP

and the remaining 50 Dth would be cashed

out at 110% of the AMIP.

 

(c) The Average Monthly Index Price

(AMIP) is the arithmetic average of

the Weekly Index Prices (WIPs). The

WIP for any week is the arithmetic

average of the following two index

prices reported in 'Spot Gas Prices

Delivered to Pipelines' issued by

"Natural Gas Intelligence" (NGI):