qualified electric utility
(6) Qualified electric utility For purposes of this subsection, the term “qualified electric utility” means a person that, as of the date of the qualifying electric transmission transaction, is vertically integrated, in that it is both— (A) a transmitting utility (as defined in section 3(23) of the Federal Power Act ( 16 U.S.C. 796(23) )) with respect to the transmission facilities to which the election under this subsection applies, and (B) an electric utility (as defined in section 3(22) of the Federal Power Act ( 16 U.S.C. 796(22) )).