A way for wholesale electric energy prices to reflect the value of electric energy at different locations, accounting for the patterns of load, generation, and the physical limits of the transmission system.
Analysis is typically performed on a system to determine the amount of capacity that needs to be installed to meet the desired reliability target, commonly expressed as an expected value, or LOLE of 0.1 days/year.
The brief periods when electricity consumption is at its highest, often driven by factors like extreme weather or heat events. This is the highest amount of electricity demand for which a grid operator needs to plan.
A power plant that is designed to quickly ramp up and provide electricity during periods of high energy demand, such as during hot summer afternoons or cold winter evenings, to meet the increased needs of households and businesses. These plants generally only run during these peak events to supplement regular power generation.
A regulatory tool that ties a portion of utilities’ earnings to the utilities’ performance on desired regulatory outcomes, offering utilities opportunities to create the programs and services needed to advance emerging priorities.
The conversion of light into electricity at the junction of two substances exposed to light. A photovoltaic system employs solar modules, each comprising a number of solar cells, which generate electrical power.
Pennsylvania-New Jersey-Maryland Interconnection- services 13 states in Midatlantic and Midwest region
The rate of transfer of energy. It’s essentially how quickly energy is being used or converted from one form to another in an electrical circuit. Power is measured in watts (W), which represents one joule (J) of energy per second.
A measure of how efficiently electrical power is being used. It shows how much of the total power flowing in a circuit is actually doing useful work (active power) versus being ”wasted” as reactive power. A power factor closer to 1 means higher efficiency and fewer losses.
Sometimes also called a Public Service Commission (PSC), is a state-level governmental agency that regulates utilities like electricity, gas, and water. PUCs ensure that these essential services are provided fairly, reliably, and at reasonable prices, often by overseeing monopolies and protecting consumers.
