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-the-counter customized and unregulated options)
Firming Renewable Electric Power Generators: Opportunities and Challenges for Natural Gas Pipelines. Prepared for the INGAA Foundation, Inc., by ICF International. March 16, 2011. 220 pages.
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
Reynolds, Stanley S. and Andrew Kleit. Opening the Grid: How to Recharge Arizona Electricity System for the 21st Century. Policy Report. Goldwater Institute, No. 232, July 21, 2009.
Brown, Ashley. Open Transmission Access: Scope, Dimension and Meaning." Presentation to the Segundo Simposio Internacional de Ingenieria, Asuncion, Paraguay, November 2015