Twenty-nine member legislative commission charged with studying and coming up with an electric deregulation plan for North Carolina. Securitization - The combination of similar individual loans into a standard instrument, sold and traded in the secondary market, to investors with different parameters that would not have invested in individual loans. It provides funds for the original lender to make additional loans. SPA - Special Purpose Agency. May be used to issue bonds to retire stranded debt in preparation for deregulation.
Examples are undepreciated generating facilities, deferred costs, and long term contract costs.
Unregulated - Those portions of the utility industry not regulated by FERC or state utility commissions. Such aspects as generation and power marketing are unregulated. The uncertainty of deregulation is forcing utilities to consider beefing up their efforts in the unregulated portions of the business.