A

(no entries)

B

Building Automation Control System, Building Automation System (BAS)

Hardware and software to control various aspects of a building’s heating, ventilation, air conditioning (HVAC) and lighting. The three HVAC functions: heating, ventilating and air-conditioning, are closely interrelated. All seek to provide thermal comfort, acceptable indoor air quality, and reasonable installation, operation and maintenance costs.

C

California ISO

The California ISO is a not-for-profit public-benefit corporation charged with operating the majority of California’s high-voltage wholesale power grid. Balancing the demand for electricity with an equal supply of megawatts, the ISO is the impartial link between power plants and the utilities that serve more than 30 million consumers.

Curtailment Service Provider (CSP)

Entity authorized to act as an interface between the ISO and energy market participant to deliver demand response capability.

Curtailable Load

Amount of electric demand (kW) that a site is able to reduce upon request.

Curtailment

Process of decreasing electric demand.

D

Day-ahead Demand

The fixed and/or price-sensitive demand bids cleared in the PJM Day-ahead Energy Market (financial hedge).

Day-Ahead Energy Market

A day-ahead hourly forward market in which PJM market participants may submit offers to sell and bids to buy energy. The results of the Day-Ahead Energy Market are posted daily at 4:00 p.m. and are financially binding. The Day-Ahead Energy Market is based on the concept of Locational Marginal Pricing and is cleared using least-price security-constrained unit commitment and dispatch programs.

Demand Bid (Price-sensitive)

An hourly bid, expressed in MWh, that may be submitted into the Day-ahead Energy Market to purchase a certain amount of energy at Day-ahead LMP only if the Day-ahead LMP value is less than or equal to the specified bid price. Price-sensitive Demand Bids must specify hourly quantity, bid price and location (transmission zone, aggregate or single bus).

Demand Hours

The time interval each day on a particular system in which there is a heavy demand for electricity. For PJM, it is the time period beginning 8:00:01 and ending 22:00:00, inclusive.

Demand Response

Providing electricity customers in both retail and wholesale electricity markets with a choice whereby they can respond to dynamic or time-based prices or other types of incentives by reducing and/or shifting usage, particularly during peak periods, such that these demand modifications can address issues such as pricing, reliability, emergency response, and infrastructure planning, operation, and deferral.

Demand Resource

A resource with the capability to provide a reduction in demand.

Demand Side Management

Program designed to provide an incentive to end-use customers or curtailment service providers to enhance the ability and opportunity for reduction of load when PJM LMP is high.

E

Electric Distribution Company (EDC)

The company in whose service territory load aggregators provides energy to retail customers and whose distribution system is used to transport that energy. EDCs own the electric distribution wires and have metered interchange tie points.

Electric Reliability Council of Texas (ERCOT)

The mission of the Electric Reliability Council of Texas (ERCOT) is to direct and ensure reliable and cost-effective operation of the electric grid and to enable fair and efficient market-driven solutions to meet customers’ electric service needs. ERCOT is the ISO for most of the state of Texas.

Electric Utility

A corporation, person, agency, authority, or other legal entity or instrumentality that owns or operates facilities for the generation, transmission, distribution, or sale of electric energy primarily for use by the public and is defined as a utility under the statutes and rules by which it is regulated. Types of Electric Utilities include investor-owned, cooperatively owned, and government-owned (federal agency, crown corporation, state, provincials, municipals, and public power districts).

Electrical Energy

The generation or use of electric power by a device over a period of time, expressed in kilowatt-hours (kWh), megawatt hours (MWh) or gigawatt hours (GWh).

Energy Market Participant

Entity that participates in the energy markets, aka, an end user of energy. These include residential, commercial, and industrial users of energy.

Energy Supplier

Entity that supplies energy to the market. These include generators of electricity as well as electric utilities that have power generation capability.

F

Fixed Demand Bid

Purchases of a defined MW level of energy, regardless of LMP in the Day-Ahead Market.

G

(no entries)

H

(no entries)

I

Increment Offers

An hourly offer, expressed in MWh, to sell energy into the Day-ahead Energy Market if the Day-ahead LMP is greater than or equal to the specified ffer price. This offer must specify hourly quantity, offer price and location (Transmission Zone, Hub, Aggregate or single bus).

Independent System Operator (ISO)

A federally regulated regional organization which coordinates, controls and monitors the operation of the electrical power system of a particular region. ISOs also act as a marketplace in wholesale power, especially since the electricity market deregulation of the late 1990s. Most ISOs are set up as non-profit corporations using governance models developed by the Federal Energy Regulatory Commission or FERC in April 1996. Also, see Regional Transmission Operators (RTOs).

ISO New England (ISO-NE)

ISO New England is a regional transmission organization (RTO), serving Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. ISO New England meets the electricity demands of the region’s economy and people. ISO New England is an independent, not-for-profit corporation.

J

(no entries)

K

Kilowatt (kW)

See

Watt

Kilowatt-hour(kWh)

See

Watt-hour

L

Load Curtailment

Voluntary reduction of load of preselected customers. Advanced notice of four hours (one hour in an emergency) is required.

Load Shedding

The systematic reduction of system demand by temporarily decreasing load in response to transmission system or area capacity shortages, system instability, or voltage control considerations.

Locational Marginal Price (LMP)

The hourly integrated market clearing marginal price for energy at the location the energy is delivered or received

.

Locational Price Algorithm

Program that calculates locational marginal prices based on actual system conditions at five minute intervals.

M

Megawatt (mW)

See Watt

Megawatt-hour (MWh)

See Watt-hour

Midwst ISO (MISO)

The Midwest Independent System Operator (MISO) was founded on February 12, 1996 and filed for RTO status on January 16, 2000; the Federal Energy Regulatory Commission (FERC) approved the proposal on December 19, 2001, making MISO the first RTO in the country. Spanning over 15 states and into Canada, MISO consists of several transmission corporations, utilities, co-ops and others. Because of the size of its territory, it has faced numerous questions concerning transmission and seam issues.

N

NERC

The North American Electric Reliability Council, a reliability council responsible for the oversight of regional reliability councils established to ensure the reliability and stability of the regions.

 

New York ISO (NYISO)

The New York Independent System Operator (NYISO) is a federally regulated, not-for-profit corporation charged with operating New York’s bulk electric transmission system, a network that spans more than 11,000 miles. The NYISO also administers the state’s wholesale energy markets, which generated nearly $11 billion in transactions in 2005.

O

(no entries)

P

(no entries)

Participant

See energy market participant

PJM

PJM Interconnection is a regional transmission organization (RTO) that plays a vital role in the U.S. electric system. PJM ensures the reliability of the largest centrally dispatched electric grid in the world by coordinating the movement of electricity in all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia.

Peak Demand

The highest electric requirement occurring in a given period (e.g., an hour, a day, month, season or year). For an electric system, it is equal to the sum of the metered net outputs of all generators within a system and the metered line flows into the system, less the metered line flows out of the system.

Q

(no entries)

R

Regional Transmission Operators (RTOs)

A federally regulated regional organization which coordinates, controls and monitors the operation of the electrical power system of a particular region. RTOs also act as a marketplace in wholesale power, especially since the electricity market deregulation of the late 1990s. Most RTOs are set up as non-profit corporations using governance models developed by the Federal Energy Regulatory Commission or FERC in April 1996. Also, see Independent System Operators (ISOs)

Reserves

Capacity that is available to come online within a specified period of time. The following are various categories of reserves:

·         Operating Reserve – Generation available in 30 minutes

·         Synchronized Reserve – Reserve capability that can be converted fully into energy within 10 minutes or load that can be removed from the system within 10 minutes of the request from the ISO dispatcher, and must be provided by equipment electrically synchronized to the system.

·         Non-Synchronized – Non-synchronized reserve available in 10 minutes.

·         Secondary Reserve – Reserve available in 11- 30 minutes

·         Reserve Availability >30 – Reserve available in more than 30 minutes

·         Non-Reported Capacity Reduction – As reported by LSEs, the total amount of Capacity reductions that have been previously reported to the ISO and therefore have not caused an adjustment to be made to the Scheduled Capacity

S

Spinning Reserve

See Standby Reserve

Spot Market Energy

Energy bought or sold by market participants through the ISO’s energy market at Locational Marginal Prices.

Standby Reserve (SR)

Reserve capability which is required in order to enable an area to restore its tie-lines to the pre-contingency state within 10 minutes of a contingency which causes an imbalance between load and generation. During normal operation, these reserves must be provided by increasing energy output on electrically synchronized equipment, by reducing load on pumped storage hydroelectric facilities, or by reducing the demand of Demand Resources. During system restoration customer load may be classified as synchronized reserve.

Synchronous Reserve

See Standby Reserve

T

(no entries)

U

(no entries)

V

(no entries)

W

Watt (W)

The watt (symbol: W) is the SI derived unit of power, equal to one joule per second. An equivalent definition is watts+volts x amps, that is, if 1 volt of potential difference is applied to a resistive load, and a current of 1 ampere flows, then 1 watt of power is dissipated. Major multiple of watts include: kilowatt (kW) which is 1,000 watts; and megawatt (MW) which is 1,000,000 watts or 1,000 kilowatts.

Watt-hour (Wh)

The watt-hour (abbreviated Wh) is a unit of energy. One watt-hour is the amount of (usually electrical) energy expended by a one-watt load (e.g., light bulb) drawing power for one hour. Major multiples of watt-hours include: kilowatt-hour (kWh) which is 1,000 watt-hours; and megawatt-hour (MWh) which is 1,000,000 watt-hours or 1,000 kilowatt-hours.

X

(no entries)

Y

(no entries)

Z