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Seam

The interface between two control areas or ISOs

Securitization

Issuing revenue bonds backed by anticipated revenue to refinance a utility's debt and stranded assets

Self-Generation

A generator that serves a specific retail customer, usually on the customer's premises; such a dedicated generator may be partially or fully owned by the customer

Service Territory

The geographical area served by an electric utility

Spot Market

The market in which electricity is traded for immediate delivery

SRC (Static Reactive Compensator)

Provides protection against under voltage and/or voltage collapse by injecting positive or negative VARs as necessary to support a transmission system

Standard Market Design (SMD)

Wholesale electricity pricing that is determined separately by zone, based on the supply and demand in a region, and uses locational marginal pricing (LMP)

Standard Offer

A predetermined rate offered to a customer who remains with a utility, instead of choosing another electric supplier in a competitive marketplace

Stranded Benefit

A social program or regulatory asset (low-income assistance, energy efficiency, etc.) that is no longer financial (i.e., no captive ratepayers to pay for the programs) in a developing or fully competitive electricity market because it would no longer be included in a utility's rates

Stranded Cost

The cost of a past investment that would not be recovered in a developing or fully competitive electricity market because it would no longer be included in a utility's rates (also known as stranded investment

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