C
Capital Credits - The funds remaining after the cooperative’s expenses are paid are assigned back to
individual customers based on their patronage. The individual assignments
are called capital credits and represent each member’s ownership in the
cooperative.
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Competitive Service Provider (CSP) - A person or company licensed by the State Corporation
Commission to sell competitive energy services in Virginia.
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Competitive Transition Charge (CTC) - A charge that allows
utilities to recover stranded costs.
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D
Distribution (Power Delivery) - The delivery of electricity to
your home or business. Your current local distribution company, which is
regulated by the state, will continue to maintain the lines and equipment
necessary to deliver energy to you.
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E
Electric Cooperative - Independent, locally owned business enterprise, incorporated under the laws
of the state in which it operates. Consumers who receive service are
member-owners of the co-op and share responsibility for its success or
failure along with the benefits they receive.
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Energy Choice - The opportunity for a retail customer to buy energy or energy related services from the provider
of their choice.
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G
Green Power - Electricity produced by environmentally friendly sources like wind, solar
and other renewable fuels.
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I
Independent System Operator (ISO) - An independent entity that controls the transmission system in a deregulated
electricity system.
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Investor-Owned Utility (IOU) - An electric utility that is owned by stockholders.
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L
Local Distribution Company (LDC) – The public utility that owns, maintains, and
operates the distribution lines and equipment necessary to deliver
electricity to a home or business. The utility is regulated by the state.
Consumers do not have a choice of local distribution companies.
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P
Power Marketers - Sales agents for
wholesale electric power, who are not typically a part of a utility. Such
entities contract with sellers as the middleman in selling bulk power in
return for a margin or fee on the transaction.
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Price to Compare - The regulated rate or price per energy unit of electricity supply service (kWh), less any
competitive transition charge.
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R
Restructuring - The changes in the electric utility industry being considered through regulatory
and statutory policies that govern production, transmission and
distribution.
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Retail Access - The ability of an end user to purchase electricity from a supplier of
choice.
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Retail Wheeling – The delivery of electricity from a remote power supplier through the
transmission system of another party.
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S
Standard Offer Service - Service provided to customers who do not choose an electricity supplier.
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Supply (Generation) – The production of electricity. This is the portion you may be able to
choose.
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T
Transmission - The process of transporting electricity on high voltage lines from the
generator to the distribution system. Transmission can be over long
distances, and power can be transmitted over power lines owned by more than
one entity.
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U
Unbundle - To separate electricity service into its basic components - generation, transmission and
distribution - which may then be provided by the same entity or multiple providers.
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