Glossary

An entity (for profit or non-profit) that assembles generators or customer loads to achieve economies of scale and diversity among the generators or loads being combined

The comprehensive rules enacted in 1996 that require open, nondiscriminatory access to transmission lines for wholesale electricity suppliers

A maximum price applied by a regulator to the sale of electricity or services, whereby the level of the cap is set somewhat above the marginal costs of the most expensive generator on the system

Establishing the rates a utility charges its commercial, industrial and residential customers (customer classes) based on the reasonable and necessary costs of investment and servicing; in short, linking a utility's costs to its rate of return through...

Planning by utilities to ensure a reliable electricity supply

Separating (spinning off) the generation, transmission, distribution and customer service functions of an electric utility; separating a customer's bill into its individual components

A flow of electricity that is uncontrollable as to direction and amount

High-speed solid-state technologies that control transmission equipment to improve reliability and increase capacity

In the Midwest PTPs are defined as either obligations or options that are directional and entitle the owner of a PTP to be paid the difference in the congestion components of the locational prices between the specific point or points of receipt and the...

Congestion Revenue Right. See "Financial Transmission Right"