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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

Tariff

The schedule of rates, terms and conditions that a utility submits to a state's public utilities commission for regulatory approval

Tieline

A transmission line that connects two control areas or regions

Time of Use

Charging customers for electric usage, based on the bloc of time (generally on-peak, mid-peak or off-peak) it is consumed

Transco

An investor-owned, for-profit entity that combines the operation and ownership of transmission assets

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