Ampere
The unit of electric current in an electric circuit.
Appointment Effective Date
The date the data Aggregator (DA), data Collector (DC) or Meter Operator (MOP) for an MPAN last changed.
AQ
Annual quantity most commonly used in reference to gas usage.
Associated Gas Fields
Fields where gas is located above oil reserves and therefore exploitation of one resource affects the other. The majority of North Sea gas now comes from associated fields.
Availability Charge
A charge for the amount of power made available to the customers property, it is expressed in £/kVA and relates to the contractually authorised supply capacity (ASC).
Backwardation
A market condition in which a futures price is lower in the distant delivery months than in the near delivery months.
Baseload
Power delivered at a flat rate throughout a specified delivery period i.e. March baseload.
Bbl
Abbreviation for the (blue) barrel standard quantity measure used within the
crude oil market.
BCF
Billion cubic feet commonly used as a measurement for gas.
BCF/D
Billion cubic feet per day.
Bearish
The underlying belief that market prices will fall.
BETTA
British Electricity Transmission and Trading Arrangement introduced in 2005 to replace NETA now incorporates Scotland as well as England and Wales.
Bid Price
The price at which a buyer is prepared to purchase a given volume of a commodity.
BM
Balancing Mechanism - used by the National Grid Company to balance the system in real time. Achieved through the acceptance of bids and offers by market participants for each half-hour. The BM operates from 3.5 hours before real time.
Brent Blend (dated) Contract
The North Sea benchmark spot oil contract.
BSC
Balancing and Settlement Code governs the operation of the balancing mechanism (BM).
Bullish
The underlying belief that market prices will rise.
Casinghead Gas
Gas produced with oil from an oil well as distinguished from gas from a gas well.
CCF
One hundred cubic feet commonly used as a measurement of gas.
CCGT
Combined cycle gas turbine a gas powered electricity generation plant.
CCL
Climate Change Levy a tax on the business use of energy applicable to gas, electricity, coal and LPG.
CCL Discount
The benefits of the Climate Change Levy Discount Scheme result in up to 80% discount on the CCL in return for meeting energy or carbon saving targets.
CCL Relief
A reduction of the CCL agreed as part of a trade sector Climate Change Agreement.
CHP
Combined Heat and Power a highly efficient technology for generating electricity and heat in a single process.
CO2
Carbon Dioxide - a Greenhouse gas.
Cogeneration
The simultaneous production of electricity and another form of useful energy (such as heat or steam) through the sequential use of energy, resulting in increased efficiency of fuel use.
Connection Agreement
Agreement between client and the local distribution company (for example Central Networks in the Midlands) setting out the terms and conditions with which each are bound concerning the provision and use of the connection.
Contango
A market condition in which a futures price is higher in the distant delivery months than in the near delivery months.
Current
The amount of electricity, measured in amperes, that is flowing in a circuit.
CV
Calorific value the ratio of energy to volume measured in mega joules per cubic metre (MJ/m).
DA
Data aggregator the organisation appointed to aggregate collected data received from the appointed DC, also responsible for calculating distribution lines losses.
Datalogger
An electronic device that automatically records, stores and transmits meter readings.
DC
Data collector the organization responsible for collecting, processing and validating meter data, estimating non-half hourly consumption and passing information to the DA.
De-energisation
The interruption of supply, so that electricity cannot flow from the network to the premises.
DEFRA
Department for Environment, Food and Rural Affairs.
Degree Day
A measure of the departure of the mean daily temperature from a given standard, one degree day for each degree (°C or °F) of departure above (or below) the standard during one day. Degree days are used to help to measure demand patterns and expectations. See the Learning Centre for further information.
Demand
The requirement for power/gas.
Demand Site Management
The planning, implementation and monitoring of activities designed to encourage consumers to modify patterns of electricity usage, including the timing and level of electricity demand.
Disconnection
The permanent removal of the meter, cabling and service from the property once it is
established that a supply will not be required in the future.
Distribution System
The local wires, transformers, substations and other equipment used to distribute and deliver energy to consumers. The system is low voltage 132kV and below.
DM
Daily metered a supply point fitted with equipment that allows for daily meter reads to
be taken.
DUoS
Distribution Use of System - the charges incurred by suppliers for distributing electricity across the local area system to the supplied premises.
EAC
Estimated Annual Consumption - a projection of annualised consumption for a customer without half-hourly metering. It is derived from profile information and the latest meter advance.
EDI
Electronic Data Interchange.
EFA
Electricity Forward Agreements.
Elexon
The Balancing and Settlement Code Company established under the Balancing and
Settlement Code (BSC). Elexon procure, manage and operate the services and systems to facilitate balancing and imbalance settlement.
Embedded Generator
A generator with a direct connection to a PESs distribution system, rather than NGCs
transmission system.
Energy Watch
A consumer complaints organisation for energy users.
Enhanced Capital Allowance
Enhanced Capital Allowances (ECAs) enable a business to claim 100% first-year capital allowances on their spending on qualifying plant and machinery.
EUA
European Union Allowance measured in /metric tonne provides a market value for carbon allowances within the EU.
EU-ETS
European Emissions Trading Scheme - one of the policies introduced across Europe to tackle the threat of climate change. See the Learning Centre for further information.
Excess Availability Charges
A penalty charge applied by certain suppliers to clients who are pulling kVA above their Authorised Supply Capacity (ASC). This can be three times the contracted pence per kVA rate.
Firm Gas
Gas supplied to a customer on a guaranteed basis, without interruption.
Forward Curve
The prices for future delivery of a product at various points in time, the combination of which gives a tradeable price curve quoted into the future.
Forwards Contract
An agreement to buy a product from another party at a specified time in the future at a specified price with money changing hands at the delivery date. Unlike Futures Contracts, these are not standardized.
Fossil Fuel
Any naturally occurring organic fuel source formed in the Earths crust; commonly refers to oil, coal and natural gas.
Frequency
The number of complete cycles of an alternating voltage or current per unit of time, usually expressed in cycles per second or Hertz (Hz).
Futures Contract
Similar to a forwards contract, however, these are normally traded through an exchange and are standardized, transferable contracts that require delivery at a specified price, on a specified future date.
Generation
The production of electricity at power stations. Currently the main fuels used are gas, nuclear, coal and oil, although there is now a growing use of renewable forms of energy including wind and tidal power, waste incineration and the burning of gas from landfill sites.
GSP
Grid Supply Point a point of supply from the national transmission system into a local
distribution network.
GSS
Guaranteed Service Standard standards of customer service performance set by OFGEM.
GW
Gigawatt a standard unit of measure of power equal to 1,000,000 kilowatts or 1,000 megawatts.
GWh
Gigawatt hour a unit of energy consumption equal to 1,000,000 kilowatt hours or 1,000 megawatts hours. 1 GWh is equivalent to the total electricity typically used by 250 homes in one year.
Hedge
A transaction entered into in an attempt to reduce the risk associated with an investment.
HHD
Half-Hour Data - this is the product of half-hour data meter, which records and stores data for each half hour period throughout the day. The data is then used for invoicing, tendering and reporting purposes and is mandatory for all users above 100kW demand.
HV
High Voltage - Normally exceeding 1,000 Volts.
Hz
Hertz a unit of frequency equal to one cycle per second.
ICE
Intercontinental Exchange operate the leading energy futures and options exchange in Europe.
Interconnector
A connection or link between energy systems that enables them to draw on each others reserve capacity in times of need.
Interruptible Gas
Gas supplied to a customer on the basis that the supply might be interrupted for a specified period. The site will have an alternate fuel source and generally incurs a lower charge for transportation.
Joules (J)
The International System unit of energy. One joule of electrical energy is equal to the work done when a force of one newton acts through a distance of one metre.
kVA
Kilovolt Amperes Unit of Apparent power. Used by electrical engineers to rate equipment as this measure takes into account both active and reactive energy.
kW
Kilowatt a standard unit of measure of power equal to 1,000 watts (103) or to energy
consumption at a rate of 1,000 joules per second.
kWh
Kilowatt hour unit of energy consumption, equivalent to 1kW of power expended for 1 hour of time. A typical home uses around 3,300 kWh of electricity per annum.
Kyoto Protocol
An international agreement signed by the majority of major industrial nations pledging them to reduce their emissions of greenhouse gases between 2008 and 2012.
LDZ
Local Distribution Zone Gas - A geographic area supplied by one or more NTS offtakes.
LF
Load Factor - Measures usage efficiency and is derived from the relationship between unit consumption and maximum demand. To calculate load factor follow the formula below;
| x 100 | |||
Liquidity
Refers to the volume of transactions - with sufficient buyers and sellers, a market enjoys continuous offers, bidding, and consummated transactions, thus achieving market liquidity.
LLF
Line Loss Factor the factor used to calculate the losses in the distribution network lines.
LNG
Liquified Natural Gas see the Learning Centre for further information.
Load Management
The process of shifting the use of energy from periods of high demand to periods of lower demand, when the associated costs are usually lower.
LPG
Liquified Petroleum Gas.
LTS
Local Transmission System Gas - The pipeline system that takes NTS offtakes and
transports it to the Distribution system and direct to some large users.
LV
Low Voltage normally exceeding 50 volts, often 240 or 415 Volts.
MCF
One million cubic feet commonly used as a measurement of gas.
MD
Maximum demand the highest average demand (in kW or kVA) registered in a half hour period throughout a month. The annual MD is the highest recorded in any half hour period during the year.
Measurement Class (see also Profile Class)
A code indicating the method of measuring electricity usage for a particular supply. See the Learning Centre for further information.
MOP
Meter Operator - the organisation appointed to install, maintain and remove metering equipment.
Mothballing
When a plant is not operating because there is no demand for its services the plant is
'mothballed'.
MPAN
Meter Point Administration Number a unique identifier for the supply to a particular address. It is divided into two parts, the MPAN Core (a 13-digit number forming the bottom line of the Supply Number) and the supplementary data (an 8-digit number on the top line). See the Learning Centre for further information.
MPR
Meter Point Reference Number - a unique reference number identifying each meter (gas) and used in the preparation of supply tenders.
MPRS
Meter Point Registration System owned by the Distribution companies, it contains all MPANs for that distribution area.
MW
Megawatt a standard unit of measure of power equal to 1,000 kilowatts.
MWh
Megawatt hour a unit of energy consumption equal to 1,000 kilowatt hours.
National Grid
Previously National Grid Transco, National Grid own, operate and develop the high-voltage electricity transmission network in England and Wales and Great Britain's principal natural gas transportation system.
NBP
National Balancing Point a notional point on the UK gas or electricity system through which all gas/electricity pass for the purposes of balancing and accounting.
NDM
Non daily metered a meter that is read at monthly, or longer, intervals.
NETA
New Electricity Trading Arrangement came into force in March 2001 to replace the Pool system. A market based mechanism in which bulk electricity is traded forward through bilateral contracts and on exchanges as other commodities. Covered England and Wales, excluded Scotland.
Network Code
The hub around which the competitive gas industry revolves, comprising a legal and
contractual framework to supply and transport gas. In 2005 as a result of the sale of four of the gas distribution networks by NGT, the Network Code was replaced by the Uniform Network Code (UNC).
NHH
Non half-hourly metered sites generally these sites take power at less than 100kW.
NTS
National Transmission System - high pressure gas system consisting of terminals,
compressor stations, pipeline systems and offtakes. Operates at pressure up to 75 bar.
NTS pipelines transport gas from terminals to NTS offtakes.
Offer price
Also referred to as the Ask price refers to the price at which a seller is prepared to sell a given volume of a commodity.
Offtakes
An installation defining the boundary between the NTS and the LTS.
OFGEM
Office of Gas and Electricity Markets - responsible for regulating the Gas and Electricity Supply Industries in England, Wales and Scotland.
OPEC
Organisation of Petroleum Exporting Countries made up of eleven nations whose economies rely on oil export revenue. Members include Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE & Venezuela.
OTC Market
Over the counter market incorporates all deals concluded outside of official exchanges such as ICE. Contracts are usually secured on a bilateral basis between two counterparties. The majority of energy traded in the UK goes through the OTC market.
Peak Demand
The maximum load during a specified period of time usually workings days from 07:00 to 19:00 in the UK.
PES
Public Electricity Supplier.
Profile Class (see also Measurement Class)
Profile classes are used for non half-hourly metered supplies providing the electricity supplier with an expectation as to how electricity will be consumed throughout the day. See the Learning Centre for further information.
Power factor
This is the measure of how effectively electricity is being used on a site. Certain types of equipment cause poor power factors, which reduces the capacity of the network to supply power. Distribution companies will charge customers for this through reactive power charges. See the Learning Centre for further information.
Prompt
Commodity trade for delivery in the very short term.
Reactive Power Charges
Reactive Power is measured by the Distributor and billed to the Supplier. Charges
will depend on the Power Factor at a site. See the Learning
Centre for further information.
Renewable Energy
Energy derived from resources that are regenerative. This includes solar power, wind, wave, tidal and hydroelectricity. Wood, straw and waste are often called solid renewable energy, while landfill gas and sewerage gas can be described as gaseous renewable.
RO
Renewables Obligation - the obligation placed on licensed electricity suppliers to deliver a specified amount of their electricity from eligible sources. See the Learning Centre for
further information.
SBP
System Buy Price the price paid in the Balancing Market by a party requiring more energy to meets its contractual commitments.
Shipper
A company that contracts with the gas pipeline company for the use of the transportation and storage facilities.
SNT
Seasonal Normal Temperature.
SOQ
Supply Offtake Quantity (Gas) measured daily in kWh.
Spark Spread
The theoretical profit a gas-fired power plant would make from selling a unit of electricity, having bought the fuel required to produce this unit of electricity.
SSP
System Sell Price the price paid on the Balancing Market by a party that has more
electricity than it requires to meet its contractual commitments.
Standing Charge
A daily, monthly or quarterly charge levied by the local distribution company.
STOD
Seasonal Time of Day (electricity).
Supply Agreement
A contract between a supplier and the customer to supply energy at an agreed tariff or method for an agreed duration.
Sub-Metering
The term often used when a property owner installs a separate meter to monitor the
consumption of a utility such as water, gas or electricity.
Supply Margin
Forecast excess capacity available on the power network above the anticipated demand on a given day.
The Carbon Trust
The Carbon Trust is an independent, not-for-profit company, which was created by the UK government to help business and the public sector cut carbon emissions.
Therm
A unit of measurement for gas, equivalent to 100,000 British Thermal Units (BTUs) or 29.3071 kWh.
Transco
See National Grid.
Transformer
A static electric device consisting of a single winding, or two or more coupled windings, used to transfer power by electromagnetic induction between circuits at the same frequency, usually with changed values of voltage and current.
Transmission
The transfer of electricity at high voltage from the power stations across the UK to the local distribution networks. Known as the Grid System, it is owned and operated by the National Grid (NGT).
TRIAD
Used for the calculation of TUoS Charges, the TRIAD is calculated by averaging the three maximum demand points (in kW) of a supply at specific half hourly time periods. The figures used usually occur between November and February during peak periods and are set to reflect the point at which the highest demand occurs on the National Grid.
TUoS Charges
Transmission use of system charges raised by NGT to suppliers for their use of the high voltage national grid transmission network.
TW
Terawatt a standard unit of measure of power equal to 1,000,000,000 kilowatts, 1,000,000 megawatts or 1,000 gigawatts.
TWh
Terawatt hour a unit of energy consumption equal to 1,000,000,000 kilowatt hours, 1,000,000 megawatts hours or 1,000 gigawatt hours.
UNC
Uniform Network Code replaced the Network Code in 2005 following the sale of four of the gas distribution networks by NGT.
Volt
The volt is defined as the potential difference across a conductor when a current of one ampere dissipates one watt of power.
Voltage
The difference of electrical potential between two points of an electrical network, expressed in volts. It is a measure of the capacity of an electric field to cause an electric current in an electrical conductor.
Voltage Transformer
A device that reduces (or increases) the supply voltage for example a 11000/415 Volt transformer would convert 11000 volt supply to 415 volt supply.
Watt
The watt is the International System unit of power, equal to one joule per second.