For purposes of this chapter, the following definitions apply:

1. (a) “California balancing authority” has the same meaning set forth in Section 399.12 of the Public Utilities Code.

2. (b) “Extreme event” means either of the following:

   1. (1) An event occurring at a time and place in which weather, climate, or environmental conditions, including temperature, precipitation, drought, fire, or flooding, present a level of risk that would constitute or exceed a one-in-ten event, as referred to by the North American Electric Reliability Corporation, including when forecast in advance by a load-serving entity or local publicly owned electric utility.
   2. (2) An event where emergency measures are taken by a California balancing authority, including when forecast in advance by the California balancing authority.
3. (c) “Fund” means the Strategic Reliability Reserve Fund established pursuant to Section 25793.
4. (d) “Load-serving entity” has the same meaning as defined in Section 380 of the Public Utilities Code.
5. (e) “Local publicly owned electric utility” has the same meaning as defined in Section 224.3 of the Public Utilities Code.
6. (f) “State board” means the State Air Resources Board.