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Megawatt
One million watts, or 1,000 kilowatts.
National
Energy Policy Act
1992 legislation that provides for competition in electric
generation. The law also gives FERC authority to require utilities to
provide access to their transmission systems to other electric
suppliers seeking to compete in the wholesale market.
Regulated
business
A business, such as electric or gas utility, whose operations and
prices are regulated by a government agency, such as:
- Federal Energy Regulatory
Commission (FERC)-Agency within the Department of Energy that
regulates prices and conditions of service for transmitting
electricity among states.
- Public Utilities Commission (PUC)
or Public Service Commission (PSC)-State agencies that regulate
prices and conditions of service for distributing electricity.
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