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IPP

An independent power producer that generates electricity but lacks transmission and distribution

IRP

Integrated resource planning by electric utilities that uses a least-cost combination of demand-side management, conservation and new resources to meet projected future demands

Island

A component of a transmission system (or several systems) that becomes separated from its interconnection because of the disconnection or failure of elements within the system

ISO

The independent system operator that manages a region's transmission grid

ISO (Independent System Operator)

A for-profit or non-profit entity established under FERC Order 888 and independent of market participants, that maintains generation-load balance through real-time monitoring and controlling of the transmission system and some generating units

Kilowatt-hour (kWh)

A unit of energy or power multiplied by time (3 hours of watching television = 1 kWh)

LDC

Local distribution company

LMP (Locational Marginal Pricing)

Pricing electricity to include the costs of transmission losses, congestion and the local costs of generation (also called location-based pricing)

Load

Any consumer of electrical energy; also, the amount of power (demand) used by a utility system, electrical device or consumer. Load can be manually or automatically curtailed or shed temporarily during times of high usage (customers have agreed beforehand to such actions) or managed to ensure a reliable electricity supply

Load Center

An area (city, etc.) that uses large amounts of electricity (also called a load pocket)

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