Common use of Rate Adjustment Clause in Contracts

Rate Adjustment. A. Rates charged for services shall be negotiated between Company and Shipper. Company reserves the right to seek authorization from the Federal Energy Regulatory Commission (“FERC”) or other appropriate agency to increase, decrease or restructure the rates (including market based rates), and Company Use charges in effect at any time as may be found necessary to assure Company’s right to charge and collect fair and equitable rates within the meaning of Section 311 (a)(2) of the Natural Gas Policy Act of 1978 (“NGPA”) and the FERC’s rules and regulations thereunder. Nothing herein contained shall be construed to deny any Shipper any rights which it may have under FERC rules and regulations, including the right to participate fully in rate proceedings by intervention or otherwise to contest changes in rates and Company Use charges in whole or part. In addition to the rates above, Shipper shall pay in advance all applicable state and federal filing, reporting and application fees incurred by Company for providing such services. B. Company may at any time provide firm or interruptible storage services at different rates from the market based rates approved by the FERC for Company’s NGPA Section 311(a)(2) services. Nothing herein shall obligate or require, or be construed to obligate or require, Company to offer or continue such different rates.