Sec. 2. Definitions
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In this Act: 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) ). CREU The term consumer-regulated electric utility or CREU means an electric generation and supply system that— is established— after the date of enactment of this Act; and exclusively for the purpose of serving new electric loads that were not previously served by any retail electricity supplier; may own, construct, and operate facilities necessary for generation, energy storage, transmission, distribution, and the retail supply of electricity; may sell electricity at retail to eligible CREU customers, subject to the condition that the system is physically islanded from— all regulated utilities; the bulk-power system; and the Bulk Electric System (as defined by the Electric Reliability Organization); engages in any combination of— generating electricity; transmitting electricity; distributing electricity; or selling electricity at retail to consumers; is not connected to the bulk-power system or any other electric transmission or distribution system for primary or backup supply; and operates independently of any public utility.
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) ). CREU customer The term eligible CREU customer means any entity that— purchases electricity at retail from a consumer-regulated electric utility; receives electric service exclusively through facilities owned, constructed, or operated by consumer-regulated electric utilities; and is located within premises that are physically islanded from— all regulated utilities; the bulk-power system; and the Bulk Electric System (as defined by the Electric Reliability Organization).
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) ).
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