GENERAL TERMS AND CONDITIONS OF SERVICE
(Continued)
9. OPEN SEASON PROCEDURES
9.1 Open Seasons for Existing Capacity
Capacity that becomes available on NBP's system will initially be
offered through an open season as set forth below.
(a) NBP will post available capacity for bidding on its Internet
website. The Bid Period will be a minimum of (one) 1
business day for capacity available for up to one (1) month;
a minimum of three (3) business days for capacity available
for greater than one (1) month but less than one (1) year;
and a minimum of five (5) business days for capacity
available for one (1) year or more.
(b) Any entity that qualifies for service in accordance with
Paragraph 11 of the General Terms and Conditions of Service
of this FERC Gas Tariff, including the credit conditions in
Paragraph 12, may submit a bid for posted capacity. All
bids not withdrawn prior to the close of the Bidding Period
shall be binding. At the end of the Bidding Period, NBP
will evaluate the bids and determine the bid(s) having the
greatest economic value as determined in Paragraph 9.1(d)
below.
(c) After the close of the Bidding Period, NBP may tender a
Service Agreement for execution to the requestor(s)
submitting the bid(s) having the greatest economic value for
the capacity available, subject to the provisions of
Paragraph 9.1(e).
(d) Valuation of Bids
Unless otherwise specified in its open season posting, the
bid(s) with the greatest economic value will be the bid(s)
with the highest net present value ("NPV") based on the
reservation charge and any proposed usage charge revenues
guaranteed by a minimum volume commitment or otherwise that
requestor(s) would pay at the rates the requestor(s) has
bid, over the term of service specified in the request.
(Continued)
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Issued by: John A Roscher, Director of Rates & Regulatory Affairs
Issued on: June 6, 2002 Effective on: August 12, 2002
Filed to comply with order of the Federal Energy Regulatory Commission, Docket
No. CP01-22-000, et al., issued May 18, 2001, 95 FERC ¶ 61,259 |