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Load Serving Entity
Load serving entity (LSE) in a deregulated electricity market is a company or government agency that is obligated by law or via a long-term contract to provide electrical power to end-users. The term is used in regulation, yet is vague and thus subject to prolonged political wrangling. For example, the US law defines an LSE as an obligation-bound provider of electricity directly to consumers or to a utility that serves the consumers. FERC defines the LSE as "any entity, including a load aggregator or power marketer, that serves end-users within a control area and has been granted the authority or has an obligation pursuant to state or local law, regulation, or franchise to sell electric energy to end-users located within the control area". An LSE can be considered to be a demand aggregator for the end-users or a middleman capable of setting its own prices to extract profit. Opgrand suggests to classify the LSEs into two distinct types, ''regulated utilities'' and ''unregulated LS ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity Market
In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology. A restructuring of electric power industry at the turn of the 21st century involved replacing the vertically integrated and tightly regulated "traditional" electricity market with multiple competitive markets for electricity generation, transmission, distribution, and retailing. The traditional and competitive market approaches loosely correspond to two visions of industry: the deregulation was transforming electricity from a public service (like sewerage) into a tradable good (like crude oil). As of 2020s, the traditional markets are still common in some regions, including large parts of the United Stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
End-user
In product development, an end user (sometimes end-user) is a person who ultimately uses or is intended to ultimately use a product. The end user stands in contrast to users who support or maintain the product, such as sysops, system administrators, database administrators, Information technology (IT) experts, software professionals and computer technicians. End users typically do not possess the technical understanding or skill of the product designers, a fact easily overlooked and forgotten by designers: leading to features creating low customer satisfaction. In information technology, end users are not "customers" in the usual sense—they are typically employees of the customer. For example, if a large retail corporation buys a software package for its employees to use, even though the large retail corporation was the "customer" which purchased the software, the end users are the employees of the company, who will use the software at work. Certain American defense-related pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FERC
The Federal Energy Regulatory Commission (FERC) is the United States federal agency that regulates the transmission and wholesale sale of electricity and natural gas in interstate commerce and regulates the transportation of oil by pipeline in interstate commerce. FERC also reviews proposals to build interstate natural gas pipelines, natural gas storage projects, and liquefied natural gas (LNG) terminals, in addition to licensing non-federal hydropower projects. FERC is composed of five commissioners who are nominated by the U.S. president and confirmed by the U.S. Senate. There may be no more than three commissioners of one political party serving on the commission at any given time. Primary duties The responsibilities of FERC include the following: * Regulating the transmission and sale of natural gas for resale in interstate commerce; * Regulating the transmission of oil by pipelines in interstate commerce; * Regulating the transmission and wholesale sales of electricity i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balancing Authority
A balancing authority (BA) is an entity in the US electric system (as well as in parts of Canada and Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...) that is responsible for grid balancing: resource planning and Unit commitment problem in electrical power production, unit commitment ahead of time, maintenance of the load-interchange-generation balance within a balancing authority area (also known as a control area) and support for real-time load-frequency control.Glossary of Terms Used in Reliability Standards North American Electric Reliability Corporation, p. 2. February 8, 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intermediary
An intermediary (or go-between) is a third party that offers intermediation services between two parties, which involves conveying messages between principals in a dispute, preventing direct contact and potential escalation of the issue. In law, intermediaries can facilitate communication between a vulnerable witness, defendant and court personnel to acquire valuable evidence, whilst in barter, the intermediary is a person or group who stores valuables in trade until they are needed, parties to the barter or others have space available to take delivery of them and store them, or until other conditions are met. In diplomacy and international relations, an intermediary may convey messages between principals in a dispute, allowing the avoidance of direct principal-to-principal contact. Where the two parties are geographically distant, the process may be termed shuttle diplomacy. Where parties do not want formal diplomatic relations, an intermediary state may serve as a protecting p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auction Revenue Right
An auction is usually a process of Trade, buying and selling Good (economics), goods or Service (economics), services by offering them up for Bidding, bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different #Types, types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically. Auctions are applied for trade in diverse #Contexts, contexts. These contexts include antiques, Art auction, paintings, rare collectibles, expensive wine auction, wines, commodity, commodities, li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulated Price
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For example: * in biology, gene regulation and metabolic regulation allow living organisms to adapt to their environment and maintain homeostasis; * in government, typically regulation means stipulations of the delegated legislation which is drafted by subject-matter experts to enforce primary legislation; * in business, industry self-regulation occurs through self-regulatory organizations and trade associations which allow industries to set and enforce rules with less government involvement; and, * in psychology, self-regulation theory is the study of how individuals regulate their thoughts and behaviors to reach goals. Social Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regional Transmission Organization
A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) that coordinates, controls, and monitors a multi-state electric grid. The transfer of electricity between states is considered interstate commerce, and electric grids spanning multiple states are therefore regulated by the Federal Energy Regulatory Commission (FERC). The voluntary creation of RTOs was initiated by FERC Order No. 2000, issued on December 20, 1999. The purpose of the RTO is to promote economic efficiency, reliability, and non-discriminatory practices while reducing government oversight. An independent system operator (ISO) is similarly an organization formed at the recommendation of FERC. In the areas where an ISO is established, it coordinates, controls, and monitors the operation of the electrical power system, usually within a single US state, but sometimes encompassing multiple states. RTOs typically perform the same functions as ISOs but cove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource Adequacy
Resource adequacy (RA, also supply adequacy) in the field of electric power is the ability of the electric grid to satisfy the end-user power demand at any time (typically an issue at the peak demand). RA is a component of the electric system reliability. For example, sufficient unused generation capacity shall be available to the electrical grid at any time to accommodate equipment failures and drops in variable renewable energy sources (e.g, wind dying down). The adequacy standard should satisfy the chosen reliability index, typically the loss of load expectation (LOLE) of 1 day in 10 years (so called "1-in-10"). Vertically integrated utility In the case of a vertically integrated electric utility RA was part of the integrated resource planning, done by the utility itself, with expenses negotiated with regulators that were representing the captive customers. These monopoly utilities had an incentive to overestimate the peak demand in order to build more capacity and justify an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
