Glossary

Demand-side management programs that seek to increase off-peak electricity consumption without necessarily reducing on-peak demands.

The gaseous state of a substance.

Voltage-Ampere-Reactive. A measure of reactive power.

The total costs incurred to produce energy, exc1uding fixed costs which are incurred regardless of whether the resource is operating. Variable costs usually include fuel, increased maintenance and additional labor.

Funds available to invest in new or unproven business enterprises.

An arrangement whereby the same company owns all the different aspects of making, selling, and delivering a product or service. In the electric industry, it refers to the historically common arrangement whereby a utility would own its own generating plants, transmission system, and distribution lines to provide all aspects of electric service.

A spread that involves options with different strike prices, but identical expiration dates.

A form of partial deregulation of the electric industry whereby the utility remains the sole retail supplier to customers on a pool basis but the Customers have the right to enter into bilateral contracts for differences from the pool prices.

A measurement of the price fluctuation of an underlying instrument that takes place over a certain period of time.

The unit of measurement of electromotive force. It is equivalent to the force required to produce a current of one ampere through a resistance of one ohm. The unit of measure for electrical potential. Generally measured in kilovolts or kV. Typical transmission level voltages are 115 kV, 230 kV and 500 kV. (See Voltage Chart.)

The control of transmission voltage adjustments in generator reactive output and transformer taps, and by switching capacitors and inductors on the transmission and distribution systems.

Any intentional reduction of system voltage by 3 percent or greater for reasons of maintaining the continuity of service of the bulk electric power supply system.

A small remote generator located on a transmission system to provide voltage within tolerance limits to the 'Customer. If the voltage delivered is outside of the tolerance levels, appliances will not run efficiently. (See Voltage Chart.)

See RATE, VOLUMETRIC.