RETURN ON RATE BASE Definition

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RETURN ON RATE BASE is the ratio of net operating income earned by a utility, calculated as a percentage of its rate base.

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TENDER is to offer a product for sale at a specified price. A tender is issued usually in response to a specific request from a potential purchaser, e.g. government procurement.

CURRENCY SWAP is an exchange of two currencies accord­ing to an agreement to re-exchange the currencies at the same rate at a specified future date. During the term of the agreement, exchanges of interest payments denomi­nated in the respective currencies also may occur.

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