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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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