Common use of DAILY CAPACITY SUBSCRIPTIONS Clause in Contracts

DAILY CAPACITY SUBSCRIPTIONS. Daily subscriptions of capacity for each Day in Month M shall be marketed with a notice period of at least seventeen (17) hours and after allocation of the monthly capacity for Month M in question, from the twentieth (20th) of month M-1. Such capacity will be allocated on a first-come, first-served basis. Every day, between 02:00 p.m. and 03:00 p.m., GRTgaz will Auction the daily Firm Capacity for the next day that remains available. Capacity sold by Auction is allocated to shippers in decreasing order of the prices they bid. The unit price of Capacity subscribed daily by Auction shall be equal to:  the Reserve Price if all the capacity put on sale by Auction is not subscribed by the shippers,  the minimum of the unit prices proposed by the shippers to which some capacity is allocated by Auction if all the capacity put on sale by Auction is subscribed by the shippers.

DAILY CAPACITY SUBSCRIPTIONS. Daily subscriptions of capacity for each Day in Month M shall be marketed with a notice period of at least seventeen (17) hours and after allocation of the monthly capacity for Month M in question, from the twentieth (20th) of month M-1. Such capacity will be allocated on a first-come, first-served basis. Every day, between 02:00 p.m. and 03:00 p.m., GRTgaz will Auction the daily Firm Capacity for the next day that remains available. Capacity sold by Auction is allocated to shippers in decreasing order of the prices they bid. The unit price of Capacity subscribed daily by Auction shall be equal to:  • the Reserve Price if all the capacity put on sale by Auction is not subscribed by the shippers,  • the minimum of the unit prices proposed by the shippers to which some capacity is allocated by Auction if all the capacity put on sale by Auction is subscribed by the shippers.