Annual report glossary
CHP Combined heat and power plant
CSR Corporate Social Responsibility
DSO Distribution System Operator
EPD Environmental Product Declaration
Green Certificates/electricity certificates
PSE Polskie Sieci Elektroenergetyczne
RTPA Regulated Third Party Access
SKB Svensk Kärnbränslehantering AB
TSO Transmission System Operator
A
Availability
Actual electricity generation capability in relation to the maximum possible generation.
B
Brownfield site
Land or premises which has previously been used or developed and where certain infrastructure may exist.
C
CHP Combined heat and power plant
A plant that generates heat and electricity in the same process.
CSR Corporate Social Responsibility
A concept whereby companies integrate economic, social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.
D
Deep repository
Underground facility for the fi nal disposal of spent nuclear fuel. See also SKB’s website http://www.skb.se.
Deregulation
Abolishing monopoly rights and obligations to open up for competition. Used here as a synonym for liberalisation.
Derivative instruments
Financial instruments where the value or change in value is derived from an underlying instrument. Examples of derivative instruments include options, forwards and swaps. Derivative instruments are often used in risk management.
DSO Distribution System Operator
Responsible for operating, ensuring the maintenance of and developing the distribution system in a given area (compare with TSO).
E
EEX European Energy Exchange
The German electricity exchange. Head offi ce in Leipzig.
Electricity spot market
Short–term physical trading in electricity on an exchange.
EPD Environmental Product Declaration
A system based on Type III declarations.
EU 27
The 27 Member States constituting the European Union following the latest enlargement on 1 January 2007.
Ex–ante tariff regulation
The approval of tariffs prior to implementation.
Ex–post tariff regulation
Tariffs are examined by the regulator after implementation.
F
Forward market
A market in which buyers and sellers agree on a fixed price for the future delivery of an underlying instrument, such as electricity. (See also Derivative Instruments.)
G
Green Certificates/electricity certificates
Tradeable certifi cates issued for renewable energy. Called electricity certifi cates in Sweden.
Greenfield site
A site or project location where no infrastructure exists. ISDA agreement A bilateral general agreement prepared in accordance with guidelines established by the International Swap Dealers Association. The agreement regulates the parties’ legal obligations in derivative.
transactions with each other.
I
ISO 14001
International standard for environmental management systems.
K
Kyoto Protocol
International agreement to reduce greenhouse gas emissions.
L
Legal unbundling
Legal separation of transmission and distribution from other activities (generation/sales).
Local network
An electricity network in Sweden within the 0.4—20 kV range.
M
Major disruption
Extensive disruptions in electricity network operations which result in many customers lacking electricity.
Merit order
The order in which capacity is put into use.
N
Nord Pool
The Nordic electricity exchange.
NOX
A general term for various oxides of nitrogen.
O
OTC Over the Counter
Trading (directly or via a broker) outside the official exchanges in physical and financial contracts.
P
PolPX
The Polish electricity exchange, Towarowa Gielda Energii.
PSE Polskie Sieci Elektroenergetyczne
Polish Power Grid Company. Regional network An electricity network in Sweden within the 40—130 kV range.
R
Regulator
The legal authority that supervises the market to ensure effective competition and fair pricing.
Renewable energy sources
Non–fi nite energy sources such as hydro power, biofuel, wind, solar power, tidal power, wave power, geothermal power.
Replacement power
Replacement delivery, in accordance with a riparian court decision, to the owner of another power station on the same river.
RTPA Regulated Third Party Access
Access to the network is provided based on published and regulated tariffs for the use of the network.
Retailer
Firm at the end of the distribution chain, which normally buys a product from a wholesaler in order to sell it to the end consumer.
S
Shared power
Several parties have the right to electricity from a particular power plant.
SKB Svensk Kärnbränslehantering AB
The party responsible for managing radioactive waste in Sweden.
SO2
Sulphur dioxide.
Spot market
A market where trade is conducted with immediate delivery. Swap A fi nancial instrument that is a combination of spot and forward transactions, a type of fi nancial exchange agreement.
T
Thermal power
Electricity generated via a heating process, such as a gas turbine or a steam process in a coal–fi red or nuclear power plant (compare with CHP).
TSO Transmission System Operator
Responsible for operating, ensuring the maintenance of and developing the transmission system in a given area (compare with DSO).
U
Unbundling
Separation of the transmission/distribution system interests from the other interests of a company.
V
Value chain
Process for creating value. Within the electricity sector this includes the generation, transmission, distribution, trading and selling of electricity.
Volatility
A measure of the extent to which the price of a commodity varies over a particular period.
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