Common use of State Public Power Authority Clause in Contracts

State Public Power Authority. A public authority or corporate municipal instrumentality, including a subsidiary thereof, created by the State of New York under the Public Authorities Law that owns or operates generation or transmission and that is authorized to produce, transmit or distribute electricity for the benefit of the citizens of the entire State or for the citizens in two or more counties of the State. Strandable Costs. Prudent and verifiable expenditures and commitments made pursuant to a Transmission Owner’s legal obligations that are currently recovered in the Transmission Owner’s retail or wholesale rate that could become unrecoverable as a result of a restructuring of the electric utility industry and/or electricity market, or as a result of retail-turned-wholesale customers, or customers switching generation or transmission service suppliers. Stranded Investment Recovery Charge. A charge established by a Transmission Owner to recover Strandable Costs. Supplemental Resource Evaluation (“SRE”). A determination of the least cost selection of additional generators, which are to be committed, to meet changed conditions that may cause the original system dispatch to be inadequate to meet load and/or reliability requirements.