Prudent Utility Practice

Prudent Utility Practice. At any particular time means either any of the practices, methods and acts engaged in or approved by a significant portion of the electrical utility industry prior thereto or any of the practices, methods or acts, which, in the exercise of reasonable judgment in the light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at the lowest reasonable cost consistent with reliability, safety and expedition. Prudent Utility Practice shall... apply not only to functional parts of the Common Facilities, but also to appropriate structures, landscaping, painting, signs, lighting, other facilities and public relations programs, including recreational facilities, and any other programs or facilities, reasonably designed to promote public enjoyment, understanding and acceptance of the Projects. Prudent Utility Practice is not intended to be limited to the 4 optimum practice, method or act, to the exclusion of all others, but rather to be a spectrum of possible practices, methods or acts. Prudent Utility Practice shall also include those practices, methods and acts that are required by applicable laws and final orders or regulations of regulatory agencies having jurisdiction. View More

Prudent Utility Practice. Means any of the practices, methods or acts engaged in or approved by a significant portion of the national electric utility industry that at a particular time, in the exercise of reasonable judgment in light of the facts known at the time a decision was made, would have been expected to accomplish the desired result, (i) in a manner consistent (to the extent practicable) with applicable laws, reliability, safety, environmental protection, economy and expedition and commercial considerations... and (ii) with due regard being had to the relevant equipment manufacturer's recommended standards, practices and procedures (as may be modified from time to time), where this definition applies to the Owner, by the Owner and where this definition applies to the Services Provider, by the Services Provider, in each case in the light of operating and maintenance experience or the other provisions of this definition. By way of clarification, Prudent Utility Practices are not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to be a range of possible practices, methods or acts engaged in or approved by a significant portion of such electric utility industry. View More

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