- Ultimate Customer
A customer that purchases energy for consumption and not for resale.
State in which a unit is not capable of operation because of the failure of a component, external restriction, testing, work being performed, or some adverse condition.
- Unbundled Services
The selling and pricing of energy services separately as opposed to offering services "bundled" into packages with a single price for the whole package. With unbundling, separate fees are charged for each service, based upon only the costs of providing that service. (i.e., transportation, storage, generation, production, etc.).
- Underground Storage
The utilization of subsurface facilities for storing natural gas that has been transferred from its original location for the primary purposes of conservation, fuller utilization of pipeline facilities, and more effective and economic delivery to markets.
- Underlying or Underlying Instrument
The security, commodity, or financial instrument that the option conveys the right to buy (in the case of a call) or to sell (in the case of a put).
- Undue Discrimination
A subjective standard for determining illegal rates or service under the Natural Gas Act and the Federal Power Act, which is applied on a case by case basis.
- Uniform System of Accounts
Prescribed financial rules and regulations established by the Federal Energy Regulatory Commission for utilities subject to its jurisdiction under the authority granted by the Federal Power Act.
- Unit Train
A combination of coal cars, typically open top hopper cars, of 100 or more, which are kept together as a unit, moving coal from one mine to one customer, often being dedicated to the movement of coal from one mine to one power plant.
- Universal Service
Electric service sufficient for basic needs (an evolving bundle of basic services) available to virtually all members of the population regardless of income.
- Upstream Pipeline
The pipeline delivering natural gas to another pipeline at an interconnection point where the second pipeline is closer to the consumer.
- Usage Charge
A component of a utility's rate structure charged on a per unit of energy basis.
- Used and Useful
The traditional test for whether a utility asset may be included in rate base, self-defined and "Subjective.
- Useful Thermal Output
The thermal energy made available for use in any industrial or commercial process, or used in any heating or cooling application; i.e., total thermal energy made available for processes and applications other than electrical generation.
A regulated entity which exhibits the characteristics of a natural monopoly. For the purposes of electric industry restructuring, "utility" refers to the regulated, vertically integrated electric company. "Transmission utility" refers to the regulated owner/operator of the transmission system only. "Distribution utility" refers to the regulated owner/operator of the distribution system which serves retail customers.
- Utilization Factor
A ratio of the maximum demand of a system or part of a system to its rated capacity.