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. 86 Original Sheet No. 86

 

Bids for a term of more than one (1) month that vary in price or term shall

be discounted to present value based on currently effective Commission

interest rates or such other published, objective financial measure as

posted by COMPANY in advance of the offer/bid cycle. This formula will

generate a revenue number for comparison of the bids and the bid producing

the most revenue shall be determined to be the best bid. For releases that

become effective on or after July 30, 2008, potential ACQUIRING or

Prearranged SHIPPERS may submit bids in excess of the maximum tariff rate

for the applicable service agreement if the term of the proposed releases

is one (1) year or less and such release is to take effect on or before one

(1) year from the date on which COMPANY is notified of such release. Such

rate will be utilized in the determination of the best bid.

 

The best bid as determined herein or pursuant to the objective criteria

posted by the RELEASING SHIPPER shall be subject to the rights of a

Prearranged Bidder to match the bid in accordance with Section 20.6(d)

above. If two or more bids are equivalent, they will be subject to the

outcome of the tie breaker stipulated in the RELEASING SHIPPER'S Offer as

explained in Section 20.6(i) below. In its Offer the RELEASING SHIPPER may

specify any best bid criteria and tie breaker that complies with Sections

20.6(c)(xiv) and(xv) herein. However, if the RELEASING SHIPPER chooses the

COMPANY'S best bid criteria set forth above or one of the following pre-

programmed criteria and one of the tie breakers listed in Section 20.6(i),

the Offer will be eligible for the accelerated schedules set forth in the

timetables in Appendix D to these General Terms and Conditions:

 

(i) Highest rate;

 

(ii) Price times volume (regardless of term);

 

(iii) Price times volume times term (net revenue); or

 

(iv) Present value

 

If the best bid does not utilize all of the capacity being offered for

release and the RELEASING SHIPPER provided in its Offer that it would

accept multiple qualifying bids, then COMPANY will award the capacity in

the order of best bids until it has awarded all of the offered capacity

possible.

 

(i) Tie Breaker: If there is a tie for the best bid, and there is no

Prearranged Bidder who has agreed to match the best bid, the winning bid

shall be determined by applying the tie breaker stipulated in the RELEASING

SHIPPER'S Offer. The RELEASING SHIPPER may specify one of the following

tie breakers or a different tie breaker so long as it is objective,

nondiscriminatory and can be applied by COMPANY.