ESMEC (Eastern Shore of Maryland Educational Consortium ...
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Energy Market Acronyms and Terms with Definitions
|AMR Meter |Automated meter read meter – used for large commercial natural gas accounts to measure daily and inter-day usage |
|Ancillary Costs |PJM and other grid operators must match supply with demand at all times in order to avoid blackouts. Ancillary charges cover the |
| |cost of grid reliability and keeping supply and demand balanced across the transmission system. |
|ARR/FTR |Auction Revenue Rights/Financial Transmission Rights |
|ATC |Around-the-clock |
|Basis |The amount that natural gas suppliers charge for interstate pipeline costs (transportation) and supplier margin |
|Block Index |An electric purchase structure whereby a buyer/user purchases electricity at hourly rates and purchases wholesale fixed rate |
| |block purchases to stabilize portions of the electric price |
|Block Purchase |Amount of power purchased in MWs for a defined time of the day (on peak, off peak or RTC) and term length (1 month, summer |
| |period, 1 year, 2 years, etc.) at a fixed rate per MW. Block purchase of $60MW for 1MW RTC for 1 year is 1,000 kilowatts |
| |purchased at $.06kWh for each hour for one year. |
|Broker |Party that sells or arranges the sale of energy commodity and is directly compensated by an energy supplier |
|Capacity |Amount of electric generation available |
|CCF |One hundred cubic feet = 100CF |
|DAM |Day Ahead Market – Hourly electric prices set a day ahead of time, an alternative to buying on the real time hourly market. |
|Default Rate |See utility default rate |
|Distribution Cost |Local utility charges for delivering electricity or natural gas through the local distribution system – represents a portion of |
| |the total electric and/or gas bill. |
|DOE |Department of Energy |
|Deka therm |Quantity of natural gas = 10 therms, unit quantity priced on NYMEX, NYMEX trades in 10,000 dth quantities |
|(dth) | |
|Electric Demand |Amount of electricity that flows to a customer meter at a point in time. Measured in Kilowatts (kw) |
|ELRP |Emergency Load Response Program |
|ERCOT |RTO that manages power grid in Texas |
|ESCO |Energy Service Company |
|Forward Market |Prices of energy today for delivery in the future – Prices available on futures exchanges such as NYMEX |
|Fuel Oil |Diesel fuel (undyed) used for heating |
|Full Requirements |Contract structure whereby supplier provides all usage requirements for a specific term at a fixed price |
|Hedge |Fixed rate commitment for future delivery of energy |
|Independent Consultant |Energy consultant who is objective and is compensated directly and solely by the end user and not the supplier |
|Interval Meter |Meter used to measure electric flow every 15 minutes. Usually required for large commercial electric accounts and for all |
| |standalone accounts for demand response and hourly priced contracts. |
|Kilowatt (kw) |One thousand watts – metric for measuring the electricity flow to a customer meter |
|Kilowatt Hour (kWh) |The amount of kilowatts used in one hour. If a customer uses 100kw an hour for two hours the total kilowatt hours for the two |
| |hour period would be 200 kWh |
|LMP |Local Marginal Price – PJM hourly energy price for a specific delivery zone within PJM |
|LNG |Lower Natural Gas |
|Low Sulphur Diesel |Fuel grade typically used for heating and over the road vehicles |
|LSE |Load Serving Entity – Entity qualified by PJM to provide electric supply to the PJM system |
|LSP |Licensed Service Provider – Energy service provider licensed with a state/region who provides access to wholesale energy market |
| |sand billing services for end users/buyers |
|MCF |Thousand cubic feet = 1MCF = 1Dth = 10 therms |
|MEA |Maryland Energy Administration |
|Mega Watts (MW) |Equal to 1000 kw – Quantity used to trade in wholesale markets |
|NERC |National Energy Regulatory Commission – Overseas the RTO’s around the country |
|NYISO |Organization that manages the power grid in New York City and State |
|NYMEX |New York Mercantile Exchange – An organization that provides markets and market clearing house for trading futures such as |
| |electricity, natural gas, fuel oil and other commodities |
|Off Peak |Per NERC definition – all times not covered by On Peak (see below) |
|On Peak |Per NERC definition – electricity consumed between 7:00 a.m. – 11:00 p.m. M-F excluding 6 FERC holidays |
|OPC |Office of People’s Counsel |
|PJM |Organization that manages the power grid in the mid-Atlantic region. Covers from Virginia to New Jersey to Illinois |
|PLC |Peak Load Contribution – Similar to demand, a measure of an electric account’s demand relative to the entire RTO demand during |
| |RTO peak load periods. An account’s PLC in PJM is determined by its demand during the 5 highest peak hours of the PJM system |
| |(each hour occurring on a different day) |
|PLC Predictor |Service provided by EnerNOC to predict peak load hours with PJM |
|PoLR |Provider of Last Resort – Electric supply rate charged by local electric utility for end users who do not contract with a |
| |supplier, used interchangeably with SOS and default rate |
|Portfolio Block Index |Electric procurement and risk management program developed by EnerNOC for aggregations/buying consortiums such as governments, |
| |schools, hospitals, etc. |
|PSC |Public Service Commission |
|Reverse Auction |Process where suppliers bid on full requirements fixed rate contracts through internet based auction process |
|RTC |Round the Clock – term used to describe 24 hours in a day time period that lock purchase are made |
|RTO |Regional Transmission Organization – Organization that manages a regional power grid – PJM, NYISO or ERCOT |
|SOS |Standard offer Service – see utility default rate |
|SRC |South River Consulting |
|Supplier |Licensed energy supplier who provides energy supply in deregulated markets |
|Supplier Margin |Amount of profit suppliers earn after hedge costs on fixed rate full requirement contracts |
|Supply Cost |Cost of energy commodity delivered to the local utility on a buyer’s behalf. For electricity, supply cost includes energy, UCAP,|
| |transmission, congestion, supplier margin and other related costs. For natural gas, supply cost includes commodity cost, |
| |transportation (interstate pipeline costs) and supplier margin. |
|Therm |Measure of quantity of natural gas – 1 therm = 100,000 BTU’s |
|Trans Cap |Transmission Capacity – Amount of transmission capacity (in KW or MW) that supplier has to purchase as a component of electric |
| |supply sold to end users |
|UBI |Utility Bill Information – a web based utility bill tracking and management tool offered by EnerNOC |
|UCAP |Unforced Capacity Obligation – Amount of generation capacity (in KW or MW) that supplier has to purchase as a component of |
| |electric supply sold to end users |
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