As used in this subchapter, unless the context otherwise requires:
(1) “Avoided costs” means the costs to an electric utility of electric energy or capacity, or both, that, but for the purchase from the qualifying facility or qualifying facilities, the utility would generate itself or purchase from another source;
(2) “Commission” means the Arkansas Public Service Commission;
(3) “Purchase” means the purchase of electric energy or capacity, or both, from a qualifying facility by an electric utility;
(4) “Qualifying facility” means a cogeneration facility or a small power production facility which has obtained qualifying status under the cogeneration rules adopted by the Arkansas Public Service Commission pursuant to the Public Utility Regulatory Policies Act of 1978 and the rules and regulations of the Federal Energy Regulatory Commission promulgated under that act; and
(5) “Rate” means any price, rate, charge, or classification made, demanded, observed, or received with respect to the sale or purchase of electric energy or capacity or any rule, regulation, or practice respecting any rate, charge, or classification and any contract pertaining to the sale or purchase of electric energy or capacity.