Definition: Critical Peak Rebates
Critical Peak Rebates
When utilities observe or anticipate high wholesale market prices or power system emergency conditions, they may call critical events during pre-specified time periods (e.g., 3 p.m.—6 p.m. summer weekday afternoons), the price for electricity during these time periods remains the same but the customer is refunded at a single, predetermined value for any reduction in consumption relative to what the utility deemed the customer was expected to consume.
- Related Terms
- electricity generation
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