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42 energywatch-inc.com / 212.616.5100 / 1261 Broadway, Suite 510 New York, NY 10001 OPEC The Organization of Petroleum Exporting Countries is an intergovernmental organization or cartel of 13 countries. Founded in September 1960, OPEC is headquartered in Vienna, Austria, although Austria is not an OPEC member state. OPEC's mission is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic, and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry. P Paris Agreement The Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC) was adopted in December 2015 in Paris, France, at the 21st session of the Conference of the Parties (COP) to the UNFCCC. The agreement had 195 Signatories as of May 2018 and was ratified by 177 Parties. One of the goals of the Paris Agreement is "Holding the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels" as a way to significantly reduce the impacts of climate change. Additionally, the Agreement aims to strengthen the ability of countries to deal with the impacts of climate change. Also see United Nations Framework Convention on Climate Change (UNFCCC), Kyoto Protocol, and Nationally Determined Contributions (NDCs). PBR Performance-Based Rates. This is an approach to utility regulation designed to strengthen utility performance incentives. PBRs are synonymous with incentive regulation. The two most common forms of PBRs are award-penalty mechanisms ("APMs") and multiyear rate plans ("MRPs"). Both involve mathematical formulas that can lower regulatory cost at the same time that they encourage better performance. Peak Load Also known as peak demand or peak load contribution, peak load is a period of time when electrical power is needed for a sustained period based on demand. It is