Glossary
These are also referred to as Scope 2 emissions and are the result of an organisation purchasing and consuming electricity. The unit of measure is (CO2-e) per unit of electricity consumed. Scope 2 emissions are attributable to fuels used to generate electricity.
A factor applied to electricity transported between National Electricity Market regions that accounts for the energy loss incurred when transporting electricity between two regions’ Regional Reference Nodes (RRNs). See also Regional Reference Node (RRN) and Loss factors.
Entities that offer a range of services to end users such as providing information and advice on energy use and procurement, supporting negotiations with retailers, and facilitating demand-side response measures.
Forms of generation that cannot control when they supply energy into the electricity grid. Intermittent generation include wind power, solar power, and wave and tidal power. Intermittent generators can only supply energy into the electricity grid when their primary energy source (i.e. wind, sun, wave or tide) is available. See also Base load generation.
Information that allows decision makers at relevant levels of the business to make informed decisions about opportunities identified in energy efficiency assessments. Many businesses have specific requirements for the accuracy of the information presented to decision makers for different expenditure levels.
The kilovolt-ampere (kVA) unit refers to components of electrical energy which are metered separately to take account of variations in Power Factor between individual connection points. One kVA will be precisely equal to one kilowatt (kW) when the Power Factor is 1.0. End users get less usable energy (kW) than they pay for if the Power Factor is higher or lower than 1.0.
Kilojoule (103 Joules).
Certificates created under the Large-scale Renewable Energy Target (LRET) scheme in the online REC Registry administered by the Office of the Renewable Energy Regulator (ORER) by renewable energy power stations. One LGC is equivalent to 1 MWh (megawatt hour) of eligible renewable electricity generated above the power station’s baseline. End users may be able to benefit from creation of LGCs (e.g. if they operate an eligible biomass cogeneration facility). See also Small-scale technology certificates.
An Australian Government scheme designed to increase the proportion of energy produced by prescribed large-scale renewable energy technologies. The LRET places an obligation on liable parties (wholesale purchasers of electricity - primarily, energy retailers) to source a specified proportion of their energy purchases from large-scale renewable energy generators each year. See also Large-scale generation certificates and Small-scale technology certificates.
Natural gas that has been converted into liquid form making it more cost-effective to store and transport.
Refers to how an individual end user’s electricity demand changes throughout the day and year. The load profile is one of the main factors that determines what retailers will charge end users for their electricity supply. Generally speaking, all else being equal, the more variable and less predictable the load profile, the more retailers will charge end users for energy supply. See also Customer Load Variation Charge and ‘Peakiness’ of demand.
A form of demand-side response where an energy user can shift energy consumption from one time of day (or week) to another. See also Demand-side response.
The proportion by which retailers will increase the price of energy to account for losses that occur in transmission and distribution lines as electricity flows from generators to end users’ sites. These losses have a financial effect on energy retailers because they buy ‘wholesale’ electricity as it enters the transmission system at generator connection points but can only sell the ‘retail’ electricity that is delivered to end users; and the volume delivered is reduced by the losses. Wholesale electricity market rules allow energy retailers to recover the cost of these losses from energy users.
A form of gas market design used in Victoria where end users secure rights to gas pipeline capacity and these rights are tradable. If an end user has a surplus of capacity, they can sell it on the market. If they have a shortfall of capacity they can purchase additional capacity from the market. See also Contract carriage and Market design.
A party that purchases electricity directly from the wholesale market. For each trading period, market customers submit bids for the volume of energy they are willing to purchase at specified prices. Wholesale electricity market rules in Australia specifically allow end users to register as market customers, although very few do so.
The concepts determining the rules that govern how a product is traded.
An electricity generator that participates directly in the wholesale market. For each trading period, market generators submit offers for the volume of energy they are willing to supply at specified prices. All grid-connected generators with a nameplate rating of 30MW or more are required to register as market generators.
The highest wholesale market price allowed for wholesale market bids or offers. The wholesale market price cannot be greater than the price cap. See also Market price floor.
The lowest wholesale market price allowed for wholesale market bids and offers. The wholesale market price cannot be lower than the price floor. The price floor can be negative. See also Market price cap.
The actual highest level of demand within a specified period, also called ‘peak load’.