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TWP Pipeline LLC
FERC GAS TARIFF
SECOND REVISED VOLUME NO. 1

SECTION 7.22
CAPACITY RELEASE
VERSION 3.0.0

GENERAL TERMS AND CONDITIONS

    
  
                4.  All bids must be expressed in dollars and cents or percents 
                    of maximum rate, whichever is stated in the Shipper Notice, 
                    include the required bid information and must be received and 
                    posted electronically through the Website.  Bids shall be 
                    posted on the Website with any contingencies indentified 
                    and with the bidder's identity deleted.
    
                5.  A bidder may submit only one bid at a time in response to a 
                    Shipper Notice.  A bidder may withdraw its bid through the 
                    Website at any time prior to the close of the posting period 
                    specified in the Shipper Notice without prejudice to its 
                    submitting another bid with an economic value equal to or 
                    greater than the economic value of the withdrawn bid.
    
                6.  Where there is a PRS and an offer which is better than the 
                    bid submitted by the PRS, Transporter will notify the PRS by 
                    2:00 p.m. Central Time on the day capacity is awarded and the 
                    PRS will have until 2:30 p.m. to match the better offer and 
                    obtain the right to the released capacity.  In the event the 
                    PRS does not match the better bid, Transporter shall award 
                    the capacity to the party who made the best bid.

                7.  Bids shall be binding until electronic notice of 
                    withdrawal is received by Transporter.  Bids cannot be 
                    withdrawn after the bid period ends.
    
                8.  In the event that a winning bid has an unacceptable contingency, 
                    and Transporter is not notified through the Website that such 
                    contingency has been removed within the time period specified in 
                    the Shipper Notice, such contingent bid will be rejected by 
                    Transporter.
    
                9.  The Releasing Shipper may define in the Shipper Notice the 
                    criteria for determining the best bid.  If the Releasing Shipper 
                    does not specify the criteria, Transporter shall use the highest 
                    economic value to determine the best bid.  If there are multiple 
                    bids meeting the minimum conditions, Transporter shall award the 
                    bids, best bid first, until all offered capacity is awarded.  
                    Transporter will notify, through the Website by 2:00 p.m. Central 
                    Time following the end of the posting period, or by 3:00 p.m. 
                    Central Time if a matching period is applicable, the PRS or 
                    Replacement Shipper that capacity has been awarded.  Transporter 
                    shall allow re-releases on the same terms and basis as the 
                    primary release (except as prohibited by the Commission's 
                    regulations).
    
                10. Transporter will post the winning bid and Replacement Shipper's 
                    identify on the Website for at least five (5) business days.

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