Accounting Swagger
A private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles within the United States in the public's interest
What is the FASB - The Financial Accounting Standards Board
a contract between two parties stipulating that the seller will pay to the buyer the difference between the current value of an underlying equity share and its value at expiry date or on date of termination.
What is CFD - Contract for Differences?
A measure of the energy content in fuel, and is is used in the power, steam generation, heating and air conditioning industries. Equivalent to1.06 Joules
What is an MMBTU, or MBTU, (stands for one million British Thermal Units (BTU))?
A collation of selected weather data for a specific location, listing hourly values of solar radiation and meteorological elements for a one-year period
What is TMY - Typical meteorological year?
The independent system operator for the electrical grid of Alberta
What is AESO - Alberta Electric System Operator?
A board that sets common rules so that financial statements can be consistent, transparent and comparable around the world. ... They specify how companies must maintain and report their accounts, defining types of transactions and other events with financial impact
What is the IFRS - International Financial Reporting Standards
A tracking instrument defined in article 15 of the European Directive 2009/28/EC that labels electricity from renewable sources to provide information to electricity customers on the source of their energy
What is A GO - Guarantee of Origin?
the metric that measures operating margins that a new resource would need to earn in the capacity market, after netting margins earned in markets for energy and ancillary services (E&AS)
What is the Net Cost of New Entry (Net CONE)?
The assessment of the environmental consequences (positive negative) of a plan, policy, program, or actual projects prior to the decision to move forward with the proposed action
What is an EIA - Environmental Impact Assessment?
This is the main trade body for US regulated electric utilities
What is EEI - Edison Electric Institute?
A method of measuring the fair value of accounts that can fluctuate over time, such as assets and liabilities.
What is M2M - Mark to Market?
originally a narrow rule intended to ensure that capacity sellers who are “net buyers” of capacity in the market (such as load-serving utilities) cannot exercise buyer-side market power by developing capacity and offering it into the market at an artificially low price that suppresses overall market prices
What is MOPR - Minimum Offer Price Rule?
Also known as off-exchange trading, this transaction type is done directly between two parties, without the supervision of an exchange. It is contrasted with exchange trading, which occurs via exchanges
What is OTC - Over the Counter?
a legal contract between the electric utility and customer establishing all terms and conditions associated with moving power onto the grid
What is a UIA - Utility Interconnection Agreement?
An independent agency that regulates the interstate transmission of electricity, natural gas, and oil
What is FERC - Federal Energy Regulatory Commission?
The face value on which the calculations of payments on a financial instrument (e.g., swap) are determined. In other words, it indicates how much money is controlled by a position on a particular financial instrument
What is Notional quantity or value?
a market-based instrument that represents the property rights to the environmental, social and other non-power attributes of renewable electricity generation
What is a REC - Renewable Energy Certificate?
a variety of operations beyond generation and transmission that are required to maintain grid stability and security. These services generally include, frequency control, spinning reserves and operating reserves
Ancillary Services
normal unit of speed measured by an anemometer
What is M3ps (cubic meters per second)?
Also acceptable: What is a knot? (nautical mile per hour = 0.51 m sec-1 = 1.15 mph)
A United States Act passed as part of the National Energy Act. It was meant to promote energy conservation (reduce demand) and promote greater use of domestic energy and renewable energy (increase supply).
What is PURPA - Public Utility Regulatory Policies Act?
Also known as the Santiago principles, are standardized business procedures related to the operation of sovereign wealth funds (SWFs), which have agreed to pursue financial rather than political agendas and maintain a stable global financial system
What is GAAP - generally accepted principles and practices?
A market participant or its chosen representative responsible for its imbalances in the electricity market
What is BRP - Balancing Responsible Party?
A financial market where market participants purchase and sell electric energy at financially binding prices for the following day
What is A Day-ahead market?
A way for wholesale electric energy prices to reflect the value of electric energy at different locations, accounting for the patterns of load, generation, and the physical limits of the transmission system
What is LMP - Locational Marginal Pricing?
A regulation that requires the increased production of energy from renewable energy sources, such as wind, solar, biomass, and geothermal
What is RPS - A renewable portfolio standard ?
Also acceptable:
(Renewable Electricity Standard (RES) at the United States federal level and Renewables Obligation in the UK)