#  Frequently Asked Questions 

 



 



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###    Market-Based Price  expand\_more  

 A price set by the mutual decisions of many buyers and sellers operating in a competitive market 



 

 

 



###    Market Power  expand\_more  

 The ability to alter the price of wholesale or retail electricity or services to one's advantage -- and away from competitive levels -- in a competitive market (also called market manipulation) 



 

 

 



###    Merchant Power  expand\_more  

 Power sold by a for-profit entity (marketer, broker or generator) at unregulated prices 



 

 

 



###    Merchant Transmission  expand\_more  

 Commercial transmission investments made in response to market-based incentives, with the full market risk and reward accruing to the investors 



 

 

 



###    Municipal Utility (muni)  expand\_more  

 A utility that generates or supplies electricity, transmission and distribution generally within the boundaries of a specific municipality and that is owned or operated by the municipality 



 

 

 



###    Native Load  expand\_more  

 The commercial, industrial and residential customers in an electric utility's traditional service territory 



 

 

 



###    NARUC (National Association of Regulatory Utility Commissioners)  expand\_more  

 The non-profit entity comprised of state agencies that regulates utilities 



 

 

 



###    NERC (North American Electric Reliability Council)  expand\_more  

 The non-profit entity (ten regional councils and one affiliate) established in 1968 to promote the reliability of North America's electric supply 



 

 

 



###    NUG (Non-Utility Generator)  expand\_more  

 A for-profit entity or project that generates electricity but is not a utility 



 

 

 



###    OASIS (Open-Access Same-Time Information System)  expand\_more  

 The electronic posting system that allows transmission customers to view transmission access data simultaneously 



 

 

 



###    Obligation to Serve  expand\_more  

 Providing nondiscriminatory, reliable service to all customers as required by utility regulators 



 

 

 



###    Operating Reserve  expand\_more  

 The generating capability (spinning and non-spinning reserve) above firm system demand needed to provide for regulation, load forecasting errors, scheduled and unplanned equipment outages and local area protection 



 

 

 



 

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