North Carolina Natural Gas Inventory Forward Sale Contract
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How to fill out Natural Gas Inventory Forward Sale Contract?
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FAQ
712 eliminates the cap on all releases of one year or less, so that a release for 31 days or less can now exceed the maximum pipeline tariff rate, it is unclear why the FERC retains in this context the reference to release to the same replacement shipper ?at less than the maximum tariff rate.? It appears that FERC's ...
Firm Gas means Natural Gas purchased by Owner on behalf of the Project (with the consent of Millennium) under contracts where the supply and delivery of Natural Gas is on an uninterruptible basis.
Under interruptible contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of service provided for any given period. Payment for services under these contracts are typically due the month after the services have been performed.
Under these contracts, the flow of natural gas to a power plant may be stopped or curtailed if firm contract holders use the available capacity or if other interruptible customers outbid the power plant. These contracts are generally set up for short periods, often for next-day delivery.
Firm Transportation means the provision of natural gas pipeline transportation that is not subject to a prior claim by another pipeline customer or another class of transportation service and cannot be interrupted except in a situation of force majeure.
?interruptible capacity?: an extreme form non-firm capacity whose availability is not guaranteed in any way by the natural gas undertaking. ?available firm capacity?: the part of the technical capacity that is not allocated and is still available to the system users at that moment.
Firm transportation service is typically sold on the basis of a ?fixed demand or reservation charge? (i.e., you pay for the service whether you use it or not), whereas interruptible service is typically sold on a ?commodity basis? (i.e., you pay only if you use it).
Firm contracts and interruptible contracts are two broad types of contracts for purchasing natural gas, although the legal obligations for delivering natural gas between a fuel supplier and a natural gas-fired power plant can vary, depending on their specific agreements.