(a) The following words as used in this chapter shall, unless the context otherwise requires, have the meanings provided in subsection (b) of this section.

(b)(1) "New England power pool agreement," a contractual agreement between electric utilities that is open to all electric utilities, whether private or governmental, operating in New England, that provides for cooperation and joint participation in developing and implementing a regional bulk power supply of electricity, that constitutes the central dispatching and primary pooling arrangement for electric utilities in the New England states, and that has been permitted to become effective under the Federal Power Act by the Federal Power Commission.