Markets

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Electric Reliability Council of Texas (ERCOT)

The Electric Reliability Council of Texas (ERCOT) operates the electric grid and manages the deregulated market for the Texas Interconnection, w …

Electric supply and demand

The general paradigm in electric markets has been supply will be built to meet forecasted demand, regardless of cost. And demand is based on dem …

Electric system operator

North America has five regional grids with numerous interconnected transmission systems. Each interconnect is divided into control areas, each w …

Electric wholesale services

Several types of services are bought and sold in wholesale markets. These services include forward capacity, forward energy, and many others.

Energy efficiency

Energy efficiency reduces overall energy intensity for a specific energy use without concern for the timing of the use.

Energy marketer

Marketers generally purchase electricity from generators and/or natural gas from producers, and then resell it to utilities, end users, or other …

Energy Policy Act of 1992

The key points of the Energy Policy Act are that it created the legal framework for IPPs to sell to someone other than the local utility, it gav …

Energy services company

Energy services companies, or ESCOs, evolved in the regulated model to offer services beyond the regulated services offered by utility companies …

Essential reliability service (ERS)

ERS provide bulk system operators with voltage control, frequency support, and ramping capability needed to balance and maintain the stability o …

Federal Power Marketing Administration

Federal power marketing administrations are entities created by the U.S. government to market the power output of federal projects — primarily …

FERC Order 2000

In an attempt to push the industry toward its desired market model, FERC issued Order 2000 (actually issued December 15, 1999), which defined th …

FERC Order 888

On April 24, 1996 the FERC issued Order No. 888 which required public utilities to provide open access transmission service on a comparable basi …

Financial instruments

Gas and electric market participants including producers, generators, marketers, utilities, and larger end users utilize financial instruments a …

Financial services company

A financial services company provides offers financial products associated with price risk and other risks that are inherent in the electricity …

Financial transmission rights

To hedge against the financial uncertainty, ISOs often offer financial transmission rights (FTRs). FTRs are allocated or auctioned off to the ma …

Firm service

Firm service is the highest priority utility, gas pipeline, gas storage, electric transmission, gas purchase, or electric purchase level of serv …

Gas reserves

Proved reserves are estimated quantities of natural gas that are recoverable in future years from known reservoirs under existing accessibility, …

Gas scheduling

Gas Scheduling provides the link between customer demand and Gas Control’s operation of the system. It is the role of Gas Scheduling to receiv …

Gas supply agreements

A gas supply agreement between a buyer and seller contains a number of standard terms. A full agreement would contain substantial additional sta …

Gas supply regions

Gas reserves are located in areas called gas supply regions which contain one or more gas supply basins. Basins are large-scale geologic depress …