Second Revised Volume No. 1
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Effective Date: 06/13/2008, Docket: RP08-376-000, Status: Effective
Original Sheet No. 36 Original Sheet No. 36 RATE SCHEDULE FTS-1 Firm Transportation Service (Continued) 2. Bidding Process MIGC will post capacity on its Electronic Bulletin Board (EBB) within10 days of the date MIGC receives notice from the shipper to initiate thebidding process and solicit bids for the capacity. Open bids must be tenderedto MIGC via the EBB within 20 work days of the posting. MIGC will have tendays to choose the highest bid. In case of equal high bids, the equal bidderwith the earliest posting date will be declared the winner. If the originalfirm Shipper declines to match the terms of the winning bid, under Section2.c. below, then the capacity shall be awarded to the winning bidder. Thewinning bidder shall then have 30 days from receipt of notification, in whichto execute a new FTS-1 Service Agreement. MIGC shall have the right, on anon-discriminatory basis, to reject any bid not at the maximum rate. a. Contents of Bid A bid must contain the price, term, amount of capacity desired,primary receipt and delivery points, plus a request fee of the lesser of$10,000 or one month's reservation fee at maximum rate. If the bid isaccepted, the request fee will be credited to the Shipper's reservation fees.If the bid is not accepted, MIGC will return the request fee within 30 days ofthe date MIGC makes the winning bid determination. b. Best Offer MIGC will determine which bid constitutes the best offer bydetermining which bid constitutes the highest economic value to MIGC. A netpresent value calculation based on rate, term and quantity will be used todetermine the highest economic value, utilizing the latest published FERCinterest rate(s), as determined pursuant to 18 CFR Section 154.67. MIGC shallnotify the original capacity holder of the terms of the winning bid bytelephone or facsimile transmission within 24 hours of determining the winningbid.