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Location of wholesale natural gas trading in the United Kingdom; a key reference point for spot and forward market natural gas transactions in Europe.
- 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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Wholesale and retail customers that the electric transmission provider is obligated to serve.
- Browse Related Terms: Capacity margin, congestion, Critical notices, Curtailable load, First Contingency Reliability Criteria, Independent system operator (ISO), Interruptible or nonfirm transportation, Intertie, Load-serving entity (LSE), Loop flow, Marginal electric generating unit, Native load, Operating reserves, Outage, Regional Transmission Organization (RTO), Transmission loading relief (TLR)
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A naturally occurring combustible mixture of gases recovered from the earth from wells. It is composed predominantly of methane, but contains other light hydrocarbons and impurities.
- 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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The centralized exchange where CFTC–sanctioned natural gas and electricity futures are traded in the United States. Nymex is also a central credit clearing house where the credit risk of counterparties is transferred and risk-managed through clearing membership, reserve funds and risk management protocols with CFTC oversight as a designated clearing organization (DCO).
- 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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NOx is a key pollutant in the formation of acid rain and ground-level ozone (smog). NOx also contributes to the formation of fine particles that are associated with significant health effects and regional haze.
- Browse Related Terms: clearing, Equity financing, Nitrogen oxide (NOx), NOx Budget Trading Program (NBP), NOx State Implementation Plan (SIP), Power purchase agreement, Sulfur dioxide (SO2)
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A council formed in 1968 by the electric utility industry to promote the reliability and adequacy of bulk power supply in the electric utility systems of North America. NERC consists of regional reliability councils and encompasses essentially all the power regions of the contiguous United States, Canada, and Mexico.
- 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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An ozone season cap-and-trade program intended to help states meet their NOx state implementation plan (SIP) required reductions. Twenty-one states and the District of Columbia began participating in 2003–04 or will participate in the future.
- Browse Related Terms: clearing, Equity financing, Nitrogen oxide (NOx), NOx Budget Trading Program (NBP), NOx State Implementation Plan (SIP), Power purchase agreement, Sulfur dioxide (SO2)
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Building upon analyses done by the Ozone Transport Assessment Group (OTAG), this rule was finalized by the Environmental Protection Agency (EPA) in 1998. It required states significantly contributing to ozone non-attainment problems in other states to reduce their NOx emissions during the ozone season beginning in 2003. This rule gave states the flexibility to reduce emissions through various means and gave them the option to participate in the NOx Budget Trading Program.
- Browse Related Terms: clearing, Equity financing, Nitrogen oxide (NOx), NOx Budget Trading Program (NBP), NOx State Implementation Plan (SIP), Power purchase agreement, Sulfur dioxide (SO2)
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It is the execution and clearing platform for transactions not listed for open-outcry on Nymex. It also handles clearing of OTC transactions executed elsewhere (e.g. voice brokers). All trades cleared on ClearPort are subject to CFTC jurisdiction and Nymex rules.
- 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