Great Lakes Gas Transport, L.L.C.

Second Revised Volume No. 1

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Effective Date: 06/01/1997, Docket: RP97-157-004, Status: Effective

Second Revised Sheet No. 119 Second Revised Sheet No. 119 : Effective

Superseding: First Revised Sheet No. 119









Where the Existing Shipper has specified that volumetric

bids or bids based upon other variants of the rates applicable to

the capacity to be released will be accepted, any bid which has

more than the one-hundred percent (100%) load factor derivative

of the maximum rates applicable to the capacity to be released

shall be deemed to be a bid offering to pay rates in excess of

Transporter's applicable maximum rates.


Potential Shippers may revise their bids during the posting

period. Potential Shippers may not submit multiple bids for the

same package of capacity. A Prearranged Shipper may match the

"best bid" received by Transporter during the posting period

between 2:00 p.m. and 3:00 p.m., central clock time, on the last

day of the posting period.


(c) Bids are binding until written or electronic notice of withdrawal

is received by Transporter. Bids cannot be withdrawn after the

bid period ends. Following the withdrawal of a bid, a Potential

Shipper may not submit a bid lower than the bid withdrawn during

the remainder of the posting period. For this purpose, bids will

be determined to be "higher" or "lower" than the withdrawn bid by

application of the standard applicable to the determination of

best bid, as set forth in Section 10.5.


10.5 Determination of Best Bid


(a) Upon the conclusion of the posting period, Transporter shall de-

termine the "best bid" for the capacity described in an Existing

Shipper's Notice by applying the standard described by the Exist-

ing Shipper pursuant to Subsection 10.2(a)(x) hereof, or, if no

standard was so described, Transporter shall make such determi-

nations according to which bid would generate the revenue stream

with the greatest net present value, without assuming any

throughput, applying as the discount rate the rate under Section

154.501(d) of the Commission's Regulations. Transporter is re-

quired to meet the capacity release timelines for processing

capacity reallocations only if the Existing Shipper's best bid

methodology is either (1) highest rate, (ii) net revenue, or

(iii) present value. Other choices of bid evaluation methodology

(including other releasing shipper defined evaluation methodo-

logies) can be accorded similar timeline evaluation treatment at