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1 million British thermal units, or 1 dekatherm. Approximately equal to 1,000 cubic feet (Mcf) of natural gas.
- Browse Related Terms: 1 million British thermal units or 1 dekatherm (MMBtu), 1 million cubic feet (MMCF), dekatherm or decatherm (DTH), MCF, Therm
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1 million cubic feet (of gas), or 1,000 Mcf.
- Browse Related Terms: 1 million British thermal units or 1 dekatherm (MMBtu), 1 million cubic feet (MMCF), dekatherm or decatherm (DTH), MCF, Therm
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Prices for the next 12 months of consecutive natural gas futures trading contracts, usually starting with the nearest, or prompt, month.
- Browse Related Terms: 12-month strip, Arbitrage, Delivery Point(s), Financial transmission right, Forward price curve, Futures market, Henry Hub, Locational marginal price, long, Mark-to-market, Physical basis, Reference price, Short position, Spark spread, Uplift, West Texas Intermediate (WTI)
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Market participants who trade frequently, often many times a day, and therefore are attune to the ebbs and flows, the rumors, breaking news, activities of other market participants, market price, arbitrage opportunities and other rapidly-changing factors.
- Browse Related Terms: Active traders, Exchange, Hedging, Hirschman-Herfindahl Index (HHI) Market share analysis, Hub, Market capitalization, Market concentration, Market power, Price/Earnings Ratio (P/E Ratio), Transparency, Volatility, Zonal price
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Those services necessary to support the transmission of electric power from seller to purchaser, given the obligations of control areas and transmitting utilities within those control areas, to maintain reliable operations of the interconnected transmission system. Ancillary services supplied with generation include load following, reactive power-voltage regulation, system protective services, loss compensation service, system control, load dispatch services, and energy imbalance services.
- Browse Related Terms: Ancillary services, Automatic generation control, availability, Baseload Unit, Capacity factor, Control area, Financial liquidity, Fuel-adjustment clause, Installed capacity, Load pocket, Mothballed capacity, Peaking capacity, Plant factor, Ramp rate, Reliability must run (RMR), Retail unbundling, Voltage reduction, Wholesale electricity markets
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The simultaneous purchase of a commodity or derivative in one market and the sale of the same, or similar, commodity or derivative in another market in order to exploit price differentials.
- Browse Related Terms: 12-month strip, Arbitrage, Delivery Point(s), Financial transmission right, Forward price curve, Futures market, Henry Hub, Locational marginal price, long, Mark-to-market, Physical basis, Reference price, Short position, Spark spread, Uplift, West Texas Intermediate (WTI)
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A procedure under which the bids of individual suppliers are capped under certain predetermined conditions.
- Browse Related Terms: Automated mitigation procedure, City Gate, Congestion costs, Electric utilities, Firm transportation, Local distribution company (LDC), Locational installed capacity, North American Electric Reliability Council (NERC), open access, Peakshaving LNG facility, Transmission, Usage charge
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The automatic regulation of the power output of electric generators within a prescribed range in response to a change in system frequency, or tie-line loading, to maintain system frequency or scheduled interchange with other areas within predetermined limits.
- Browse Related Terms: Ancillary services, Automatic generation control, availability, Baseload Unit, Capacity factor, Control area, Financial liquidity, Fuel-adjustment clause, Installed capacity, Load pocket, Mothballed capacity, Peaking capacity, Plant factor, Ramp rate, Reliability must run (RMR), Retail unbundling, Voltage reduction, Wholesale electricity markets
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The amount of time an electrical generator is generating or available to generate, as a fraction of the total time the generator is in commercial service.
- Browse Related Terms: Ancillary services, Automatic generation control, availability, Baseload Unit, Capacity factor, Control area, Financial liquidity, Fuel-adjustment clause, Installed capacity, Load pocket, Mothballed capacity, Peaking capacity, Plant factor, Ramp rate, Reliability must run (RMR), Retail unbundling, Voltage reduction, Wholesale electricity markets
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The requirement imposed by electricity grids or natural gas pipelines that supply and demand be equal over a certain time period.
- Browse Related Terms: Balancing, baseline, Baseload, Capacity, Capacity markets, load, Load Factor, Peak load, peak demand, Real-time pricing, Time-of-use pricing
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In electric markets, refers to an agreed-upon level of electricity consumption from which deviations are measured. Usually based on a customer's historical usage. Variations may be billed at a different rate.
- Browse Related Terms: Balancing, baseline, Baseload, Capacity, Capacity markets, load, Load Factor, Peak load, peak demand, Real-time pricing, Time-of-use pricing
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The minimum level of electric power demand of a utility, region, or utility customer delivered or required over a given period of time at a steady rate; generally expressed in units of kilowatts or megawatts. The minimum continuous load or demand in a power system over a given period of time.
- Browse Related Terms: Balancing, baseline, Baseload, Capacity, Capacity markets, load, Load Factor, Peak load, peak demand, Real-time pricing, Time-of-use pricing
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An electric power plant, or generating unit within a power plant, that is normally operated continuously to meet the base load of a utility.
- Browse Related Terms: Ancillary services, Automatic generation control, availability, Baseload Unit, Capacity factor, Control area, Financial liquidity, Fuel-adjustment clause, Installed capacity, Load pocket, Mothballed capacity, Peaking capacity, Plant factor, Ramp rate, Reliability must run (RMR), Retail unbundling, Voltage reduction, Wholesale electricity markets
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The price difference between otherwise identical products in different markets (in this report, different geographical natural gas markets).
- Browse Related Terms: Basis, Daily Deals, Day-ahead markets, Floating Storage, National balancing point (NBP), Real-time market, Single settlement system, Spot market, Two-settlement system, Virtual bidding, Zeebrugge
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Exchange of fixed price for a floating for a defined basis product (e.g. a Houston Ship Channel – HSC Swap at $1.00 means that one party is willing to pay a fixed price of $1.00 for the basis while the counterparty is willing to take on the risk of paying the floating price, usually a published index price after the applicable market venue forms the price).
- Browse Related Terms: Basis Swaps, Credit rating, Daily (or Next-Day) Indexes, Debt financing, Electronic trading platform, Fixed price transactions, Floating price transactions, index, Market, Market structure, Power marketer, Project financing, Spread trading, Swaps
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The difference in price between what a buyer offers to pay for a commodity and what a seller offers to accept for a commodity, sometimes referred to as bid-offer spread.
- Browse Related Terms: Bid-ask differential, or spread, Broker, Imbalance energy, Market liquidity, Market participant, Voice broker
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A direct contract between a seller and buyer outside of a centralized market or exchange (e.g. Nymex or an RTO/ISO). In energy markets, the buyer or seller usually finds his or her matching counter-party through a broker (e.g. voice brokers, ICE, etc.).
- Browse Related Terms: Bilateral transaction, Centralized Exchange, Counterparty, Credit clearing, Credit score, Globex (GW), New York Mercantile Exchange (Nymex), Nymex ClearPort, Ring-fencing, Safe harbor, Transaction costs
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A British Thermal Unit is a measure of the heating value of a fuel. It is the amount of heat energy required to raise the temperature of one pound of water one degree Fahrenheit.
- Browse Related Terms: British thermal unit (Btu), Cooling degree days (CDD), Gas turbine, Heating degree days (HDD), Injection season, Liquefied natural gas (LNG), Natural Gas, Sendout, Winter heating season
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An intermediary (or middleman) who matches a willing seller to willing buyer for all contract terms (price, volume, location, physical or financial) to effect a transaction. It can occur through personal contact (usually by phone or instant messaging [IM]) or electronically (trade matching platform like ICE's).
- Browse Related Terms: Bid-ask differential, or spread, Broker, Imbalance energy, Market liquidity, Market participant, Voice broker
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A conductor or group of conductors that serves as a common connection for two or more electric circuits within a station.
- Browse Related Terms: Bus, Coalbed methane, Combined-cycle generators, Combined-cycle power plant, Combustion turbine, Distillate fuel oil, Dual-fueled (or dual-fired) unit, Generation, Generator, Heat rate, Merchant generator, Residual fuel oil, Steam plant, Turbine, Unconventional natural gas
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