(A - E) (F - J) (K - O) (P - T) (U - Z)

  • Parallel Path Flow : This refers to the flow of electric power on an electric system's transmission facilities resulting from scheduled electric power transfers between two other electric systems. (Electric power flows on all interconnected parallel paths in amounts inversely proportional to each path's resistance.)
  • Partial Load : An electrical demand that uses only part of the electrical power available.
  • Payback : The length of time it takes for the savings received to cover the cost of implementing the technology.
  • Peak : Periods of relatively high system demands.
  • Peak Clipping : Peak clipping reduces a utility's system peak, reducing the need to operate peaking units with relatively high fuel costs. Peak clipping is typically pursued only for the days the system peak is likely to occur, and the resources are not expected to meet the impending load requirements.
  • Peak Demand : Maximum power used in a given period of time.
  • Peak Load Power plant : A power generating station that is normally used to produce extra electricity during peak load times.
  • Peaking Capacity : Generating equipment normally operated only during the hours of highest daily, weekly, or seasonal loads; this equipment is usually designed to meet the portion of load that is above base load.
  • Peaking Unit : A power generator used by a utility to produce extra electricity during peak load times.
  • Performance Attributes : Performance attributes measure the quality of service and operating efficiency. Loss of load probability, expected energy curtailment, and reserve margin are all performance attributes.
  • Period of Analysis : The number of years considered in the study.
  • Phase : One of the characteristics of the electric service supplied or the equipment used. Practically all residential customers have single-phase service. Large commercial and industrial customers have either two-phase or three-phase service.
  • Photovoltaics : A technology that directly converts light into electricity. The process uses modules, which are usually made up of many cells (thin layers of semiconductors).
  • Pilot : A utility program offering a limited group of customers their choice of certified or licensed energy suppliers on a one year minimum trial basis.
  • Planned Generator : Proposal to install generating equipment at an existing or planned facility or site.
  • Plant : A facility containing prime movers, electric generators, and other equipment for producing electric energy.
  • Point(s) of Delivery : Point(s) for interconnection on the Transmission Provider's System where capacity and/or energy are made available to the end user.
  • Point(s) of Receipt : Point(s) of connection to the transmission system where capacity and/or energy will be made available to the transmission providers.
  • Point-to-Point Transmission Service : Reservation and/or transmission of energy from point(s) of receipt to point(s) of delivery.
  • PoolCo : This will serve as a model for the restructured electric industry that combines the functions of an ISO and a Power Exchange. In its least flexible form, a PoolCo also prohibits direct transactions between buyers and sellers (I.e. all producers selling to the Pool and all consumers buy from the Pool.)
  • Power : The rate at which energy is transferred.
  • Power Exchange : This is a commercial entity responsible for facilitating the development of transparent spot prices for energy capacity, and/or ancillary services.
  • Power Grid : A network of power lines and associated equipment used to transmit and distribute electricity over a geographic area.
  • Power Marketers : Entities engaged in buying and selling electricity.
  • Power Plant : A generating station where electricity is produced.
  • Power Pool : Two or more interconnected electric systems that agree to coordinate operations.
  • Power Purchase Agreement : This refers to a contract entered into by an independent power producer and an electric utility. The power purchase agreement specifies the terms and conditions under which electric power will be generated and purchased. Power purchase agreements require the independent power producer to supply power at a specified price for the life of the agreement. While power purchase agreements vary, their common elements include: specification of the size and operating parameters of the generation facility; milestones in-service dates, and contract terms; price mechanisms; service and performance obligations; dispatchability options; and conditions of termination or default.
  • Present Value : The amount of money required to secure a specified cash flow on a future date at a given rate of return.
  • Present Worth Factor : The adjustment factor that discounts a sum of future dollars back to the current year.
  • Price Cap : Situation where a price has been determined and fixed.
  • Primary Circuit : This is the distribution circuit (less than 69,000 volts) on the high voltage side of the transformer.
  • Prime Mover : A device such as an engine or water wheel that drives an electric generator.
  • Production : The act or process of generating electric energy.
  • Production Costing : A method used to determine the most economical way to operate a given system of power resources under given load conditions.
  • Program Life : The length of time that the utility will be actively involved in promoting a demand-side management program (I.e. financing the marketing activities and the incentives of the program.)
  • Program Maturity : The time it takes for the full benefits of a demand-side management measure or program to be realized.
  • Project Financing : This is the most commonly used method to finance the construction of independent power facilities. Typically, the developer pledges the value of the plant and part or all of its expected revenues as collateral to secure financing from private lenders.
  • Prorated Bills : The computation of a bill based upon proportionate distribution of the applicable billing schedule. A prorated bill is less than 25 days ore more than 38 days.
  • Provider of Last Resort : A legal obligation (traditionally given to utilities) to provide service to a customer where competitors have decided they do not want that customer's business.
  • Public Authority Service to Public Authorities : Electric services supplied to public entities such as municipalities or divisions of state or federal governments.
  • Public Utility : A utility operated by a non-profit governmental or quasi-governmental entity. Public utilities include municipal utilities, cooperatives, and power marketing authorities.
  • Public Utility Commissions : State regulatory agencies that provide oversight, policy guidelines and direction to electric public utilities.
  • Public Utility Holding Company Act of 1935 (PUHCA) : PUHCA was enacted by the U.S. Congress to regulate the large interstate holding companies that monopolized the electric utility industry during the early 20th century.
  • Public Utility Regulatory Policies Act of 1978 (PU : PURPA promotes energy efficiency and increased use of alternative energy sources by encouraging companies to build cogeneration facilities and renewable energy projects using wind power, solar energy, geothermal energy, hydropower, biomass, and waste fuels.
  • Publicly Owned Utilities : Municipal utilities (utilities owned by branches of local government) and/or co-ops (utilities owned cooperatively by customers).
  • Pumped Storage : A facility designed to generate electric power during peak load periods with a hydroelectric plant using water pumped into a storage reservoir during off-peak periods.
  • Purchased Power Adjustment : A clause in a rate schedule that provides for adjustments to a bill when energy from another system is acquired.

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