L - P

A contractual agreement that allows the holder the right to buy (call option) or sell (put option) a fixed quantity of a security or commodity at a fixed price within a specified period (there are standardized, exchange-traded, government-regulated, over...

Paying multiple charges to more than one utility to move (wheel) electric power across bulk-power systems (also called pancaked rates)

The difference between scheduled and real power flows on a transmission path, assuming zero inadvertent interchange (also called loop flow, unscheduled power flow, or circulating power flow)

A mechanism requiring merchant generators to pay for expanding or upgrading the transmission grid

incentive regulations to encourage a utility to reduce its costs

The electric load corresponding to a maximum level of electric demand in a specified period (also called peak demand)

The difference between a utility's electric generating capacity (usually expressed in MW) and anticipated peak load; Operating Reserve is a subset of Planning Reserve

Federal regulations that promulgate a single set of air emissions reduction targets instead of multiple targets for every emissions source within a plant

Provider of last resort

A transmission pricing method that is insensitive to distance