Regional transmission organization means an entity established for the purpose of coordinating and efficiently managing the dispatch and transmission of electricity among public utilities on a multistate or regional basis that: 1. Is approved by the Federal Energy Regulatory Commission; 2. Effectuates separate control of transmission facilities from control of generation facilities; 3. Implements, to the extent reasonably possible, policies and procedures designed to minimize pancaked transmission rates; 4. Improves service reliability within this State; 5. Achieves the objectives of an open and competitive wholesale electric generation marketplace, elimination of barriers to market entry and preclusion of control of bottleneck electric transmission facilities in the provision of retail electric service; 6. Is of sufficient scope or otherwise operates to substantially increase economical supply options for customers; 7. Has a structure of governance or control that is independent of the users of the transmission facilities, and no member of its board of directors has an affiliation with a user or with an affiliate of a user during the members tenure on the board so as to unduly affect the regional transmission organizations performance; 8. Operates under policies that promote positive performance designed to satisfy the electricity requirements of customers; 9. Has an inclusive and open stakeholder process that does not place unreasonable burdens on or preclude meaningful participation by any stakeholder group; 10. Promotes and assists new economic development in this State; and 11. Is capable of maintaining real-time reliability of the transmission system, ensuring comparable and nondiscriminatory access and necessary service, minimizing system congestion and further addressing real or potential transmission constraints.
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