Definitions

In this Act: (1) Bulk-power system The term bulk-power system has the meaning given the term in section 215(a) of the Federal Power Act (16 U.S.C. 824o(a)). (2) Consumer-regulated electric utility; creu The term consumer-regulated electric utility or CREU means an electric generation and supply system that— (A) is established— (i) after the date of enactment of this Act; and (ii) exclusively for the purpose of serving new electric loads that were not previously served by any retail electricity supplier; (B) may own, construct, and operate facilities necessary for generation, energy storage, transmission, distribution, and the retail supply of electricity; (C) may sell electricity at retail to eligible CREU customers, subject to the condition that the system is physically islanded from— (i) all regulated utilities; (ii) the bulk-power system; and (iii) the Bulk Electric System (as defined by the Electric Reliability Organization); (D) engages in any combination of— (i) generating electricity; (ii) transmitting electricity; (iii) distributing electricity; or (iv) selling electricity at retail to consumers; (E) is not connected to the bulk-power system or any other electric transmission or distribution system for primary or backup supply; and (F) operates independently of any public utility. (3) Electric Reliability Organization The term Electric Reliability Organization has the meaning given the term in section 215(a) of the Federal Power Act (16 U.S.C. 824o(a)). (4) Eligible CREU customer The term eligible CREU customer means any entity that— (A) purchases electricity at retail from a consumer-regulated electric utility; (B) receives electric service exclusively through facilities owned, constructed, or operated by consumer-regulated electric utilities; and (C) is located within premises that are physically islanded from— (i) all regulated utilities; (ii) the bulk-power system; and (iii) the Bulk Electric System (as defined by the Electric Reliability Organization). (5) Reliability standard The term reliability standard has the meaning given the term in section 215(a) of the Federal Power Act (16 U.S.C. 824o(a)).