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. 58 Original Sheet No. 58
(c) (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 greater than
the total quantities of gas delivered by COMPANY for SHIPPER'S account
during the month ("Positive Imbalance") and such Net Monthly Imbalance is
greater than 5,000 Dth, COMPANY shall pay SHIPPER for its Net Monthly
Imbalance at the following prices specified for each stated percentage that
SHIPPER'S receipts exceed its deliveries; 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 Receipts Price
0 to 5% 100% of Low Price
>5 to 10% 85% of Low Price
>10 to 15% 75% of Low Price
>15 to 20% 60% of Low Price
>20% 50% of Low Price
If the System Negative Imbalance (N) exceeds the System Positive Imbalance
(P) ("Minority Imbalance"), then the cashout price shall be the Index
Price. If P>N ("Majority Imbalance"), then the cashout price shall be the
Low Price or a percentage of the Low Price as set forth above.
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 Low Price and quantities
comprising the remaining 1% of the imbalance are priced at 85% of the Low
Price.
(ii) Subject to the provisions of subsection (e) below, if SHIPPER'S Net
Monthly Imbalance is a Positive Imbalance and less than or equal to 5,000
Dth, COMPANY shall pay SHIPPER for SHIPPER'S Net Monthly Imbalance at the
Index Price.
(iii) However, if SHIPPER owes COMPANY any payments under subsection (b)
above from a previous month which are past due, COMPANY shall have the
right hereunder to offset payments it owes to SHIPPER under this subsection
(c) by such past due amounts (inclusive of interest).
(d) System Positive Imbalance ("P") is equal to the absolute value ("abv") of
the sum of all SHIPPERS' Positive Imbalances accrued during the month.
System Negative Imbalance ("N") is equal to the absolute value ("abv") of
the sum of all SHIPPERS' Negative Imbalances accrued during the month.
The Low Price is equal to the lowest of the prices used by COMPANY, as set
forth below, for calculating the Index Price for the month in which
SHIPPER'S Net Monthly Imbalance was incurred. The High Price is equal to
the highest of the prices used by COMPANY, as set forth below, for
calculating the Index Price for the month in which SHIPPER'S Net Monthly
Imbalance was incurred.