Example Definitions of "PRUDENT UTILITY PRACTICE"
PRUDENT UTILITY PRACTICE. Shall mean at a particular time any of the practices, methods and acts engaged in or approved by a 4 significant portion of the electric utility industry prior to such time, or any of the practices, methods and acts which, in the exercise of reasonable judgment in light of the facts known at the time the decision was made, could have been expected to accomplish the desired results at the lowest reasonable cost consistent with good business practices, reliability, safety and expedition. "Prudent... Utility Practice" is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to be a spectrum of possible practices, methods or acts having due regarding for, among other things, manufacturers' warranties, the requirements of governmental agencies of competent jurisdiction and the requirements of the Ownership Agreements and Operating Agreements. View More
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