Glossary

Full name
Acronym    

Definition

Ancillary Services    

AS

Operation services which guarantee a secure reliable and high-quality energy. They include black start capability, frequency response, voltage control level and other services

Balancing Markets   BM

Operation market aimed at reconciling large deviations between loads and generation that could appear after the closure of the electricity market

Demand Response  DR

Changes in the usual patterns of consumption of electricity consumers as a response to a requirement from the grid operator, load-serving entity (utilities and competitive retail suppliers) or other demand response provider when a reliability problem occurs in the system, or as a reaction to variations in the price of electricity

Demand Response
Energy Service Trader
DREST

Market agent which physically allows the interchange of demand response services between a DRPV and a DRRQ, providing the required technology (hardware and software) and knowledge to properly perform this service

Demand Response 
Product                      
DRPR

Contractual framework which details all the technical, economic and legal requirements related to the interchange of demand response services and guarantees that the service provided by a DRPV satisfies the minimum requirements of the related service to the final user or DRRQ

Demand Response
Provider                         
DRPV

Market agent which offers some kind of demand response services to another market agent (DRRQ). A DRPV could be an energy consumer (customer) but it may be also an aggregator, who would act as DRRQ for one or more customers while being a DRPV for another market agent (TSO, DSO, utility or another aggregator)

Demand Response Requester DRRQ

Final user or Demand Response services provided by a DRPV. Typically, DRRQs are aggregators, system operators (TSO, DSO) or retailers

Delivery Prices -

Payment received by a generator for the energy provided to the electricity system

Energy Efficiency EE

A ratio of service provided to energy input. Something is more energy efficient if it delivers the same services for less energy input

Energy Services
Companies
ESCO

Company that offers energy services which may include implementing energy-efficiency projects (and also renewable energy projects) and in many case on a turn-key basis

Flexibility Action -

Capability of change voluntarily the usual patterns of consumption of an industrial process without producing any impact in the final product

Flexibility Potential            -

Ability of electricity consumers to perform demand response actions

Operation Markets OM

Market mechanisms which allow the system operator to provide the power system with the quality, reliability and security it requires. They include solution of technical restrictions, balancing markets and ancillary services

Peak Demand -

The maximum load during a specified period of time

Prices of
Capacity Band
-

Compensation for being available to generate upon instruction from the grid operator

Process
(in industry)
-

A systematic series of mechanical or chemical operations that produce or manufacture something

Renewable
Energy Sources

RES

Natural resources used to produce electricity (e.g. sunlight and wind) that are replenished at a higher rate than they are consumed. Solar, wind, geothermal, hydro, and biomass are common renewable energy sources

Retail market -

Electricity market where final consumers or business can purchase the electrical energy they need, which is delivered through a lower-voltage local distribution system

Solution of technical restrictions STT

Mechanism to solve incompatibilities in energy trading agreements between generators and consumers, which require the modification of the load-generation program paired to the electricity market

System Reliability -

Ability of the power system to meet the electricity needs of end-use customers, even when unexpected equipment failures or other conditions reduce the amount of available power supply

Transmission System Operator

TSO

Entity responsible for operating, maintaining and developing the transmission system in a given area, ensuring the safety and continuity of the electricity supply

Wholesale market

- Market where large amounts of electrical energy are traded between producers and retailers. Usually, just very large customers can directly participate in this market and there is a minimum amount of power which can be purchased (e.g. 1 MW, which can power between 600 and 1,000 homes)
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