A

Amoil: M&C wholly owned subsidiary, Amoil Supplies Ltd is an organisation dedicated to the procurement and purchase of all fuel requirements
Annual Agreed Quantity (AAQ): The annual volume of gas consumed, measured in Kilowatt hours (kWh).
Availability Charge: The charge for the amount of power made available to the clients premises. It is related to the agreed supply capacity. The distribution company sets the rate and it is expressed in kVA.

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B

Base Load: The minimum amount of electricity being used during non-operational hours.
Bearish: Believing that market prices are about to fall.
BETTA: The British Electricity Transmission and Trading Arrangement introduced in 2005 covering England, Wales and Scotland, replacing NETA which did not cover Scotland.
Bilateral Energy Trading: Trading whereby two parties (for example a generator and a supplier) enter into a contract to deliver electricity at an agreed time in the future.
Bullish: Believing that market prices are about to rise.

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C

Calorific Value: The ratio of energy to volume measured in mega joules per cubic meter (MJ/m).
Capacitor: An electrical device that provides reactive power to the system and is often used to compensate for reactive load and help support system voltage.
Carbon Credits: The key component of attempts to mitigate the growth of greenhouse gases (GHGs) One Carbon Credit is equal to one ton of Carbon. Companies that sell carbon credits to commercial and individual customers who are interested in lowering their carbon footprint on a voluntary basis.
Carbon Emissions Trading Scheme: A scheme in which greenhouse gas emissions are controlled by setting a cap on total transmissions and allowing the market sectors to reach an economically balanced response via trading of emissions allowances. Allowances are allocated initially, perhaps through a free distribution or through an auction, and the total allocation is adjusted periodically.
Carbon Footprint: A carbon footprint is "the total set of GHG (greenhouse gas) emissions caused directly and indirectly by an individual, organization, event or product" (UK Carbon Trust 2008).
Carbon Offsetting: A carbon offset is a financial instrument aimed at a reduction in greenhouse gas emissions. Carbon offsets are measured in metric tons of carbon dioxide-equivalent (CO2e) and may represent six primary categories of greenhouse gases. [1] One carbon offset represents the reduction of one metric ton of carbon dioxide or its equivalent in other greenhouse gases.
Carbon Trust: An independent not-for-profit company set up by the government with support from business to encourage and promote the development of low carbon technologies. Key to this aim is its support for UK businesses in reducing carbon emissions through funding, supporting technological innovation and by encouraging more efficient working practices.
CCL Discount: The benefits of the Climate Change Levy Discount Scheme result in up to 80% discount on the CCL in return for meeting energy or carbon saving targets.
CCL Relief: A reduction of the CCL agreed as part of a trade sector Climate Change Agreement.
Certified Emissions Reductions (CER): A Certified Emission Reduction (CERs) is the technical term for the output of Clean Development Mechanism (CDM) projects, as defined by the Kyoto Protocol.
Clean Development Mechanism (CDM): The Clean Development Mechanism (CDM), defined in Article 12 of the Protocol, allows a country with an emission-reduction or emission-limitation commitment under the Kyoto Protocol (Annex B Party) to implement an emission-reduction project in developing countries. Such projects can earn saleable certified emission reduction (CER) credits, each equivalent to one tonne of CO2, which can be counted towards meeting Kyoto targets.
Climate Change Levy (CCL): A charge introduced by the Government on 1 April 2001 on UK non-domestic fuel. The Government's aim when introducing the levy was to encourage business to use less energy, and contribute to the reduction of Carbon Dioxide emissions.
Climate Charge Levy (CCL): A charge introduced by the Government on 1 April 2001 on UK non-domestic fuel. The Government's aim when introducing the levy was to encourage business to use less energy, and contribute to the reduction of Carbon Dioxide emissions.
Climate Change Programme Published in 2000, it sets out the government and Devolved Administration strategic approach to tackling Climate Change and meeting the UK's Kyoto target of a 12% reduction in greenhouse gas emissions from 1990 levels by 2008-2012 and the domestic goal of reducing C02 emissions by 20% by 2010.
CO2: A chemical compound composed of two oxygen atoms covalently bonded to a single carbon atom. It is a gas at standard temperature and pressure and exists in Earth's atmosphere in this state.

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D

DEFRA: Department for Environment, Food and Rural Affairs.
DPEI: Department of Productivity, Energy and Industry, formerly known as the Department of Trade and Industry.
Energy Display Certificates (EDC): Display Energy Certificates (DECs) show the actual energy usage of a building, the Operational Rating, and help the public see the energy efficiency of a building. This is based on the energy consumption of the building as recorded by gas, electricity and other meters.

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E

Emission Reduction Units (ERUs): These are tradable units generated by projects in developed countries. Each ERU is equal to one tonne of carbon dioxide equivalent gases.
Emissions Trading: Emerging as a key instrument in the drive to reduce greenhouse gas emissions. Emission trading is to ensure that the emission reductions take place where the cost of the reduction is lowest thus lowering the overall costs of combating climate change.
Energy Audit: An inspection survey and analysis of energy flows in a building, process or system with the objective of understanding the energy dynamics of the system under study. An energy audit is conducted to seek opportunities to reduce the amount of energy input into the system without negatively affecting the output. Beyond simply identifying the sources of energy use, an energy audit seeks to prioritize the energy uses according to the greatest to least cost effective opportunities for energy savings
Energy Consultants: Consultants who provide services to meet the needs of customers as help to manage energy and consumption costs.
Energy Efficency: Using less energy/electricity to perform the same function. Programs designed to use electricity more efficiently - doing the same with less. For the purpose of this paper, energy efficiency is distinguished from DSM programs in that the latter are utility-sponsored and -financed, while the former is a broader term not limited to any particular sponsor or funding source. "Energy conservation" is a term which has also been used but it has the connotation of doing without in order to save energy rather than using less energy to do the some thing and so is not used as much today. Many people use these terms interchangeably.
EU Allowance (EUA): These units are specific to the EU Emission Trading Scheme, (EU ETS) which started in 2005, and are equal to one tonne of carbon dioxide equivalent gases.
European Emissions Trading Scheme: This is the world's first large-scale carbon trading market, set up in 2005 under the Kyoto protocol as a way to use the market to reduce industry pollution
European market reports a monthly European market report, covering energy issues across Europe.
European Union Emission Trading Scheme (EU ETS): A trading scheme across Europe to reduce emissions of carbon dioxide and combat the serious threat of climate change. Phase I of the Scheme began on 1 January 2005 and finished on 31 December 2007. Phase II began on 1 January 2008 and will finish on 31 December 2012 to coincide with the first Kyoto Protocol commitment period.

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F

Forwards Contract: An agreement to buy electricity from another party at a specified time in the future at a specified price with money changing hands at the delivery date.
Fossil Fuel: Fuels which have been formed from the organic remains of prehistoric plants and animals (coal, oil and gas)

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G

Gigawatt (GW): A unit of power equal to 1 billion watts; 1 million kilowatts, or 1,000 megawatts.

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H

Sorry but there are no glossary terms for this letter.

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I

Sorry but there are no glossary terms for this letter.

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J

Sorry but there are no glossary terms for this letter.

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K

Kyoto Agreement: A protocol to the United Nations Framework Convention on Climate Change, it establishes legally binding commitment for the reduction of four greenhouse gases (carbon dioxide, methane, nitrous oxide, sulphur hexafluoride), and two groups of gases (hydrofluorocarbons and perfluorocarbons) produced by "annex I" (industrialized) nations, as well as general commitments for all member countries.

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L

Sorry but there are no glossary terms for this letter.

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M

Sorry but there are no glossary terms for this letter.

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N

NETA - New Electricity Trading Arrangements: The New Electricity Trading Arrangements (NETA), a complex project to reform the way that electricity is traded in England and Wales.
NGC: National Grid Company, the company which runs the England and Wales Balancing Mechanism and transmission system.

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O

OFGEM: Office of Gas and Electricity Markets.

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P

Sorry but there are no glossary terms for this letter.

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Q

Sorry but there are no glossary terms for this letter.

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R

Renewable Energy: Energy generated from natural sources (naturally replenished) such as sunlight, wind, rain, tides and geothermal heat.

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S

Supply Agreement: A contract between a supplier and the customer to supply electricity at an agreed tariff for an agreed duration of supply contracts are of 12, 18 or 24-month duration but longer and shorter are possible.
System Buy Price (SBP): The price paid in the Balancing Mechanism by a party that requires more energy to meet its contractual commitments. Prices are often volatile and very high.

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