ACCESS TO CAPACITY

There are five ways in which an interested party can access Interconnector capacity from existing Shippers:

• Assignment
• Capacity Transfer
• Sub-letting
• Third-party shipping service
• via Pooling

These can all bring the benefits of the Interconnector service to new Shippers. Any party interested in acquiring capacity in the Interconnector is invited to call Interconnector's staff for further advice and assistance.

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Capacity bulletin board

ASSIGNMENT

Interconnector Shippers are entitled to assign all or part of their capacity to new or existing Shippers. Under this arrangement an assignee assumes all the rights and obligations of the Standard Transportation Agreement for the remainder of the contract term. It follows that the assignee needs to meet certain financial strength criteria. Interconnector is happy to discuss the requirements with any potential Shipper.

IUK has developed standardised documentation to effect the assignment of capacity rights, copies of which may be obtained by contacting Interconnector.

CAPACITY TRANSFER

IUK Shippers may acquire capacity from other IUK Shippers for a specified period of time by means of a capacity transfer. This method of capacity trading is less formal than an assignment. Capacity transfers will be subject to the terms agreed between the relevant IUK Shippers.

A standard form of Capacity Transfer Contract has been developed.

Capacity Transfers Standard Contract

SUB LETTING

Existing Shippers can sub-let all or part of their capacity to a third party (a Sub-Let Shipper). The sub-let will be on whatever terms are negotiated between the Shipper and the Sub-Let Shipper. There will be no contractual relationship (other than in relation to use of ISIS) between Interconnector and the Sub-Let Shipper and the original Shipper will retain all its obligations to Interconnector under the Standard Transportation Agreement.

A standard form of Sub-Let Contract has been developed.

Interconnector Standard Sub-Let Contract

The Sub-Let Shipper will be provided with access to the ISIS system (subject to entering into the 'ISIS User Agreement' with Interconnector) and will have full operational control with respect to the use of the sub-let capacity.

THIRD PARTY SHIPPING SERVICE

Some parties access Interconnector through an arrangement with an existing Shipper whereby that Shipper carries out all operational processes on behalf of the third party. In such circumstances there is no contractual arrangement between the third party and IUK, and indeed, IUK will not be aware that such a service is being provided.

Whilst these arrangements have to a certain extent been superseded by location swaps, IUK understands that such services are still undertaken by some Shippers. The terms and conditions governing such an arrangement will be as agreed between the Shipper and the third party.

POOLING

The pooling mechanism enables small tranches of remnant capacity, which would not otherwise be readily marketable, to be aggregated for sale by Interconnector on behalf of a number of Shippers. Interconnector will not maintain a capacity pool as such but will endeavour to match a third party requirement with any unused capacity which existing Shippers wish to relinquish.

The third party, like any other Shipper, will need to satisfy financial strength criteria and will be bound by the terms of the Standard Transportation Agreement. The pooled capacity will revert to the original shippers at the end of the pooling term.

CAPACITY BULLETIN BOARD

Interconnector has developed a Bulletin Board in order to allow Shippers to advertise either the availability of capacity or a requirement to acquire capacity.

Capacity bulletin board

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