Elba Express Company, L.L.C.

Original Volume No. 1

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Effective Date: 03/01/2010, Docket: RP10-342-000, Status: Effective

Original Sheet No. 57 Original Sheet No. 57

 

If SHIPPER has elected to be allocated the variances in deliveries

at specified Delivery Points under the Swing PDA, then such

SHIPPER'S Estimated Monthly Imbalance Percentage shall be

determined by dividing its Estimated Monthly Imbalance by the sum

of (i) the lesser of the quantity of gas deemed to be received or

delivered under all of the SHIPPER'S agreements during the month,

and (ii) the quantity of gas deemed to be delivered under third-

party SHIPPERS' transportation agreements at the Delivery Points

where SHIPPER has elected to be allocated the variances in

deliveries during the month.

 

(b) (i) Subject to the provisions of subsection (e) below, if

SHIPPER has accrued a Net Monthly Imbalance such that the total

quantities of gas received by COMPANY for SHIPPER'S account during

the month are less than the total quantities of gas delivered by

COMPANY for SHIPPER'S account during the month ("Negative

Imbalance") and such Net Monthly Imbalance is greater than 5,000

Dth, SHIPPER shall pay COMPANY for SHIPPER'S Net Monthly Imbalance

at the following prices specified for each stated percentage that

SHIPPER'S deliveries exceed its receipts; provided, however, that

the cashout price applicable to SHIPPER'S Net Monthly Imbalance

shall be the price resulting from the lower of (i) SHIPPER'S

Estimated Imbalance Percentage for the month or (ii) SHIPPER'S

actual imbalance percentage for the month as defined in Section

14(a).

 

Percentage of Excess

Deliveries Price

0 to 5% 100% of High Price

>5 to 10% 115% of High Price

>10 to 15% 125% of High Price

>15 to 20% 140% of High Price

>20% 150% of High Price

 

If the System Negative Imbalance (N) exceeds the System Positive

Imbalance (P) ("Majority Imbalance"), then the cashout price shall

be the High Price or a percentage of the High Price as set forth

above. If P>N ("Minority Imbalance") then the cashout price shall

be the Index Price.

 

For purposes of determining the tier at which a Majority Imbalance

will be cashed out, the price will apply only to quantities within

a tier. For example, if there is a 6% imbalance, quantities that

comprise the first 5% of the imbalance are priced at 100% of the

High Price and quantities comprising the remaining 1% of the

imbalance are priced at 115% of the High Price.

 

(ii) Subject to the provisions of subsection (e) below, if

SHIPPER'S Net Monthly Imbalance is a Negative Imbalance and less

than or equal to 5,000 Dth, SHIPPER shall pay COMPANY for

SHIPPER'S Net Monthly Imbalance at the Index Price.