A financial market is the place or mechanism whereby financial assets are exchanged and prices of these assets are set. Firm Customer A customer for whom contract demand is reserved and to whom the supplier is obligated to provide service. Firm Energy Energy sales which, although not subject to interruption for economic purposes, may be interrupted under force majeure conditions. The amount of firm energy that can be produced from a hydroelectric power system based on that system s lowest recorded sequence of streamflows and the maximum amount of reservoir storage currently available to the system. Firm Power Electric power or power-producing capacity intended to be available at all times during the period covered by a guaranteed commitment to deliver, even under adverse conditions, but subject to force majeure interruptions.
Firm power consists of either firm energy, firm capacity, or both.
Firm Recallable Capacity Firm capacity which is released subject to the releasing shipper s right to recall, in accordance with specified criteria, such as cold weather, force majeure, loss of market, loss of gas, etc. Firm Service Service offered to customers under schedules or contracts that anticipate no interruptions, regardless of class of service, except for force majeure. The NGPA excludes from the term first sale the sale of any volume of natural gas by any interstate or intrastate pipeline, local distribution company, or any affiliate thereof, unless such sale is attributable to volumes of natural gas produced by such affiliates thereof. The charge calculated in rate design to recover all or a portion of the fixed costs of a utility plant, including the generation facility and transmission lines, meters, and some taxes. Fixed Price A contract in which a named, exact price is specified for commodities.