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Take-or-Pay Clause
A contract provision obligating the buyer to pay for a certain minimum quantity of product, whether or not the buyer actually takes that quantity during the stated period.
Tariff
A schedule of rates, terms and conditions for service that utilities are required to file with the state public utility commission. All rate tariffs are public information and copies can be obtained upon request.
Therm
A unit of heating value equivalent to 100,000 British thermal units (Btu) (0.1 MMBtu).
Tiered Rates
A rate design which divides customer use into different tiers, or blocks, with different prices charged for each.
Time-Of-Use (TOU) Rates:
The pricing of electricity based on the estimated cost of electricity during a particular time block. Time-of-use rates are usually divided into three or four time blocks per twenty-four hour period (on-peak, mid-peak, off-peak and sometimes super off-peak) and by seasons of the year (summer and winter). Real-time pricing differs from TOU rates in that it is based on actual (as opposed to forecasted) prices which may fluctuate many times a day and are weather sensitive, rather than varying with a fixed schedule.
Tolling Arrangement
An arrangement whereby a party moves fuel to a power generator and receives kilowatt hours (kWh) in return for a pre-established fee.
Transformer
An electrical device for changing the voltage of alternating current.
Transition Charge/Surcharge
Reflects the costs of making the electricity and/or natural gas industry more competitive. Includes associated credits and/or charges.
Transition Costs
Costs associated with the change of an industry from a regulated, bundled service to a competitive open-access service, including “stranded costs".
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.
Transmission Company
Company which obtains the major portion of its natural gas operating revenues from the operation of a natural gas transmission system and/or from mainline sales to industrial customers.
Transmission Dependent Utility
A utility that relies on its neighboring utilities to transmit to it the power it buys from its suppliers. A utility without its own generation sources, dependent on another utility’s transmission system to get its purchased power supplies.
Transmission Grid
An interconnected system of electric transmission lines and associated equipment for the transfer of electric energy in bulk between points of supply and points of demand.
Transmission Loss
The power lost in transmission between one point and another. It is measured as the difference between the net power passing the first point and the net power passing the second point.
Transportation Contract
A contract setting forth the terms and conditions applicable to gas or electric transportation service.
Turbine
The part of a generating unit usually consisting of a series of curved vanes or blades on a central spindle, which is spun by the force of water, steam or hot gas to drive an electric generator. Turbines convert the kinetic energy of such fluids to mechanical energy through the principles of impulse and reaction, or a measure of the two.
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