Stingray Pipeline Company

Third Revised Volume No. 1

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Effective Date: 12/01/1996, Docket: RP96-180-001, Status: Effective

Second Revised Sheet No. 135 Second Revised Sheet No. 135 : Superseded

Superseding: First Revised Sheet No. 135

GENERAL TERMS AND CONDITIONS

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11.5 REFUND OF CASHOUT REVENUES IN EXCESS OF COSTS

 

(a) This Section of the General Terms and Conditions

sets forth the procedures under which Stingray will refund or carry

forward, for each annual billing period, any difference between the

revenues received by Stingray and the costs incurred by Stingray

under the cashout provisions of Stingray's firm and interruptible

transportation Rate Schedules. For purposes of this Section 11, an

annual billing period shall be the twelve (12) month period

commencing each December 1 and ending the following November 30 with

the first such annual billing period commencing December 1, 1993 and

ending November 30, 1994.

 

(b) Subsequent to the end of each annual billing

period, Stingray shall compare the revenues received and the costs

incurred during the applicable annual period. If the revenues

received exceed the costs incurred, then Stingray shall refund,

within sixty (60) days of the end of the annual billing period, the

net overrecoveries to firm and interruptible transportation

customers on a pro rata basis in accordance with the transportation

revenues (exclusive of penalty revenues) Stingray received for the

annual billing period. In no event will a Shipper's refund exceed

the revenue level utilized to determine its pro rata share. If the

revenues received are less than the costs incurred, then Stingray

shall carry forward the net underrecoveries to subsequent annual

billing periods and may offset such net underrecoveries plus

interest accrued during such subsequent annual periods against any

future net overrecoveries that may occur in subsequent annual

billing periods.

 

11.6 OPERATIONAL DATA VS. ACTUALS

 

In determining the cashout tier applicable under

Sections 11.3 and 11.4 above, Stingray will utilize the operational

data posted on DART as of the end of the month or the actual flow

volumes (or, if actual flow volumes are not available at the time of

billing, the reasonable estimates), whichever results in a lower

cashout tier.

 

11.7 PRIOR PERIOD ADJUSTMENTS

 

Any imbalances for a month that are booked after the

transportation for that month has been billed as a result of

receiving actual or corrected flow information will be cashed out at

100% of the AMIP in effect during the month the imbalance occurred.