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. 59 Original Sheet No. 59

 

The Index Price is equal to the sum of the prices published by the

following publication for delivery to Transcontinental Gas Pipe Line

Corporation's ("Transco") system 1) during the month in which SHIPPER's Net

Monthly Imbalance was incurred and 2) the first weekly price published

during the month following the month in which the imbalance was incurred

divided by the number of such prices utilized by COMPANY as determined

below:

 

Reference Spot Price Zone 4, 4A and 4B - Natural Gas Week Holmesville,

Miss. Price from Spot Prices on Interstate Pipeline Systems - Part 2

 

If publication or the specific postings contained therein that are listed

above are discontinued, COMPANY will revise this Section 14(d) to

substitute another price index generally accepted in the natural gas

industry. Until COMPANY receives approval from the Commission to use such

substitute index, COMPANY will calculate the Index Price each month based

on an industry-wide weekly index for Transco Zone 4.

 

(e) After each month, COMPANY will net all of the actual imbalances accrued

during the month under each agreement subject to netting under Section

14(a) above to determine a net system imbalance for the month. Subject to

other remedies available to COMPANY under operational flow orders issued

pursuant to Section 30 of the General Terms and Conditions, if the net

system imbalance does not exceed either 100,000 Dth of gas owed to COMPANY

or 50,000 Dth of gas owed to SHIPPERS, the price to be paid by COMPANY or

SHIPPER hereunder for each SHIPPER'S respective Net Monthly Imbalance shall

be 100% of the Index Price in effect for that month regardless of each

SHIPPER'S Net Imbalance Percentage or whether SHIPPER has incurred a

Minority Imbalance or a Majority Imbalance.

 

(i) On or before the ninth Business Day following the end of a month,

COMPANY shall post on SoNet Premier the Net Monthly Imbalance

accrued by a SHIPPER hereunder during the previous month provided

that the SHIPPER notifies COMPANY'S Customer Services Department via

SoNet Premier no later than the last day of the Trading Period set

forth below that SHIPPER wants to have its Net Monthly Imbalance

posted. SHIPPER may also request within the same time period as

provided above, COMPANY to post only its imbalance position; i.e.,

that SHIPPER is short or long during the month, to facilitate

trading. Notices to post imbalances received by COMPANY on or before

11:45 a.m. shall be effective no later than 8:00 a.m. CCT the next

Business Day. COMPANY shall not be required to post zero

imbalances. SHIPPER may grant to COMPANY in writing the right to

post its Net Monthly Imbalance or imbalance position on a standing

basis; provided however, that if SHIPPER decides it does not wish

COMPANY to post its imbalance or position for any month after it has

issued a standing order to COMPANY, then SHIPPER must advise COMPANY

at least three (3) days after the end of the month not to make the

posting and SHIPPER must reinstitute the standing order in writing

once it has revoked the standing order as provided above. SHIPPERS

shall have seventeen (17) Business Days after the end of the month

(Trading Period) within which to trade Net Monthly Imbalances.

Imbalance trades can only be withdrawn by the SHIPPER initiating the

trade prior to confirmation of the trade by the confirming SHIPPER.