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.