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Electric utility systems produce and deliver a type of electricity called alternating current. This means the current of the system periodically reverses its direction of flow in the conductor.
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Last Updated By:
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Aug 24, 2011 4:19 PM
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The standard unit of measure for electric current.
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Last Updated By:
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Aug 24, 2011 4:22 PM
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Generation to support reliable operation of the transmission system
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Last Updated By:
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Aug 24, 2011 4:03 PM
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The minimum load on the electric system during a specified period of time. It is the amount of load that is present 100 percent of the time.
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Last Updated By:
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Aug 24, 2011 4:23 PM
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A generating unit intended to operate on a continuous basis, serving the base load of the the electric system.
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Last Updated By:
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Aug 24, 2011 4:24 PM
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A market where suppliers offer a service or product at any price that the supplier chooses. Prices are not necessarily based upon costs and may fluctuate throughout the day. Usually, offers from suppliers are accepted in order of increasing prices, with the lowest price accepted first, until the demand is met for the product or service.
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Last Updated By:
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Aug 24, 2011 4:04 PM
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The capability to generate or otherwise provide electric energy. Capacity may be in the form of one or more electric generating units, or a purchase contract that can be relied upon to provide energy when needed.
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Last Updated By:
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Aug 24, 2011 4:04 PM
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The additional cost of purchasing electricity in an area where there is transmission congestion (see below). This price difference results from the inability of less expensive generation to deliver electricity into the congested area.
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Last Updated By:
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Aug 24, 2011 4:05 PM
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An hourly forward market in which market participants may submit offers to sell and bids to buy electric energy for the next day.
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Last Updated By:
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Aug 24, 2011 4:05 PM
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The total requirement for electricity at a given point in time.
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Last Updated By:
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Aug 24, 2011 4:05 PM
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The generation or use of electric power by a device over a period of time, expressed in kilowatt-hours (kWh), megawatt-hours (MWh) or gigawatt-hours (GWh).
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Last Updated By:
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Aug 24, 2011 4:06 PM
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An independent agency that regulates wholesale sales of electricity and the transmission of electricity across state borders (“interstate transmission”). Decisions are made by five commissioners who are appointed by the president and serve five-year terms.
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Last Updated By:
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Aug 24, 2011 4:07 PM
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These rights are allocated to or purchased by wholesale electricity customers and provide their holders with a right to receive a share of the congestion charges collected by the RTO. Financial transmission rights (FTRs) often are called by other names in different RTOs, such as “auction revenue rights,” “contracts for differences,” or “transmission congestion contracts.” All these instruments share the common characteristic of providing the rights holder a stream of revenue to reduce or offset the economic effect of congestion charges.
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Last Updated By:
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Aug 24, 2011 4:07 PM
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Conversion of a fuel or other source of energy into electrons for delivery to customers. The primary generating technologies used in the United States are coal, nuclear energy, hydro power (falling water), natural gas (not gasoline!) and fuel oil. A small portion also comes from the renewable energy sources: solar, wind, landfill methane gas, and geothermal power from underground formations.
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Last Updated By:
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On:
Aug 24, 2011 4:08 PM
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Companies that are not affiliated with investor-owned utilities and that have built or purchased generating plants in order to sell electricity in wholesale markets.
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Last Updated By:
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Aug 24, 2011 4:08 PM
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An entity that operates, but does not own, the transmission lines within a region.
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Last Updated By:
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Aug 24, 2011 4:09 PM
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When consumers do not reduce their consumption significantly when prices rise. Demand is typically inelastic for products or services characterized as necessities, such as electricity.
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Last Updated By:
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Aug 24, 2011 4:09 PM
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For-profit electric companies owned by shareholders. Until the late 1990s, IOUs owned and provided the generation, transmission and distribution of electricity. These companies were granted a monopoly over a given geographic area (known as a service territory), and their rates and services were regulated by state commissions. In a number of states, legislation was passed requiring IOUs to sell their generation and allow customers in their service territory to purchase electricity from non-IOU “alternative suppliers.”
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Last Updated By:
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Aug 24, 2011 4:10 PM
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A utility that has a responsibility to provide electricity to retail customers and that purchases or generates electricity in order to satisfy that responsibility.
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Last Updated By:
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On:
Aug 24, 2011 4:10 PM
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A method of pricing electricity and other services purchased from an RTO spot market based on the location of the generation and consumption. Under LMP, different prices in different locations reflect the impact of transmission congestion on the ability of the least expensive generator to transmit power to a given location.
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Last Updated By:
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On:
Aug 24, 2011 4:11 PM
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