TeachMeFinance.com - explain Failure or hazard
Failure or hazard The term 'Failure or hazard' as it applies to the area of energy can be defined as ' Any electric power supply equipment or facility failure or other event that, in the judgment of the reporting entity, constitutes a hazard to maintaining the continuity of the bulk electric power supply system such that a load reduction action may become necessary and reportable outage may occur. Types of abnormal conditions that should be reported include the imposition of a special operating procedure, the extended purchase of emergency power, other bulk power system actions that may be caused by a natural disaster, a major equipment failure that would impact the bulk power supply, and an environmental and/or regulatory action requiring equipment outages'.
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