Risk glossary

 

Western Systems Power Pool (WSPP)

An organisation of more than 300 electricity utilities and power marketers throughout the US operating under an umbrella marketing agreement. The WSPP Agreement is open to power sellers and customers, though it provides only for wholesale and not retail sales. It established the WSPP electricity spot market contract, the standard contract for short-term power trading across the US. The contract traded on a trial basis in May 1987 and was given final approval on July 1991 by the Federal Energy Regulatory Commission (FERC).

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