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These two terms are used interchangeably to denote the maximum power requirement of a system at a given time, or the amount of power required to supply customers at times when need is greatest. Refers either to the load at a given moment (e.g., a specific time of day) or to average load over a given period of time (e.g., a specific day or hour of the day). Usually expressed in megawatts.
- 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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Generating equipment normally operated only during the hours of highest daily, weekly, or seasonal loads.
- 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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A liquefied natural gas plant that supplies a gas pipeline system during peak-use periods. During slack periods the liquefied gas is stored. With the need for additional gas, the liquid product is gasified and fed into local distribution and gas pipeline systems.
- 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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Describes a physical natural gas purchase for the following month where the price is tied to the closing price of the expiring Nymex futures contract.
- 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 power supplier whose capacity must be used to meet peak demand and whose capacity exceeds the market’s supply margin.
- Browse Related Terms: Demand elasticity, Demand responsiveness/demand response, Load control, Load shedding, On-Peak, Pivotal supplier, Reserve margin, Rolling blackouts, Volumetric risk
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The capacity factor of an entire generating facility including all available generating units. (See also capacity factor)
- 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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A business entity engaged in buying and selling electricity. Power marketers do not usually own generating or transmission facilities. Power marketers, as opposed to brokers, take ownership of the electricity and are involved in interstate trade. These entities must file with the Commission to obtain status as a power marketer.
- 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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Guarantees a market for power produced by an independent power producer and the price at which it is sold to a purchaser. Such an agreement imposes legal obligations on both the parties to perform previously accepted tasks in a predetermined manner.
- 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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The process of making prices visible and readily available to interested parties and, in some cases, the public.
- Browse Related Terms: Collateral, Credit, Credit risk, Financial markets, Financial transaction, Financially settled, IntercontinentalExchange (ICE), Margin requirement, Open outcry, Price discovery, Risk Management
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A company’s stock price divided by its annual earnings, a widely used equity valuation measure.
- 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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A form of asset-based financing in which a firm finances a discrete set of assets (the project) on a stand-alone basis.
- 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