Glossary
A form of demand-side response where an energy user can reduce energy consumption (and demand) during peak periods. See also Demand-side response and Load shifting.
An expression that refers to a particular characteristic of a load profile, which is considered ‘peaky’ if it is particularly variable or volatile. All else being equal, retailers will charge individual end users more for peaky demand. See also Load profile.
Petajoule (1015 Joules).
A curve that shows the distribution of trading interval wholesale energy prices over a year in descending order.
An indirect signal provided by a market price to existing generators and potential new entrants indicating that there may be value in providing additional capacity.
A notional reference point in each region of the National Electricity Market where the Regional Reference Price is set for every half-hourly trading interval. Regional Reference Nodes are also used for calculating inter-regional loss factors, which are the loss incurred when transmitting electricity between two regions using regional interconnectors. See also Inter-Regional Loss Factors, Loss Factors and Regional Reference Price.
The wholesale pool price for a particular half-hourly trading interval. See also Dispatch Price, Regional Reference Node and Spot Price.
Where corporations conduct energy assessments of sample sites, fleets, technologies or processes that can be shown to be reasonably representative of other sites, fleets, technologies or processes.
Relating to the Western Australian Electricity Market: The amount of reserve capacity required in the Western Australian Electricity Market that is deemed necessary (by the Independent Market Operator (IMO)) to cover expected system peak demand. See also Independent market Operator and South West Interconnected System.
The minimum incremental financial benefit a party requires to compensate them for taking on a certain level of risk.
The component of indirect greenhouse gas emissions attributable to the consumption of electricity.
The factors presented through such medium as the National Greenhouse Accounts, that outline the scope 1, 2 and 3 carbon dioxide equivalent emissions, per unit of energy, for various fuel types.
The element of the Western Australian Wholesale Electricity Market that provides a mechanism for market participants to ‘balance’ already contracted positions, also referred to as a ‘net pool’. See also Gross pool market, Net pool market and South West Interconnected System.
An Australian Government scheme designed to increase the proportion of energy produced from prescribed small-scale renewable energy systems. The Small-Scale Renewable Energy Scheme places an obligation on liable parties (wholesale purchasers of electricity - primarily, energy retailers) to purchase a required amount of Small-Scale Technology Certificates from providers or owners of prescribed technologies each year.
Certificates created under the Small-scale Renewable Energy Scheme in the online REC Registry administered by the Office of the Renewable Energy Regulator. Technologies covered include correctly installed eligible solar water heaters, heat pumps, and small-scale solar panels, wind, and hydro systems. End users may be able to benefit from creation of Small-scale technology certificates (e.g. if they install eligible technologies). One certificate is equivalent to 1 MWh (megawatt hour) of:
- renewable electricity generated by the solar panel, small-scale wind or small-scale hydro system (unless a Solar Credits multiplier applies); or
- electricity displaced by the installation of a solar water heater or heat pump.
See also Small-scale Renewable Energy Scheme.
The primary electricity grid of Western Australia. It supplies the majority of the South West region from Albany in the South, to Kalgoorlie in the East and Kalbarri in the North.
A market where products or commodities are traded for immediate delivery. This contrasts with forward or future markets where the trade is for delivery of the product or commodity at some time in the future.
The wholesale market clearing price for a specific trading interval. It is based on bids that generators or gas traders have submitted detailing the quantity of energy they will supply for a given price, and ranked in order from lowest to highest price. See also Regional Reference Price and Dispatch Price.
The price parties agree to in a forward contract.
The process of long-distance transmission of computer-based information. Vehicle telematics are systems which use remote devices to help road freight operators by using information and communications technology (ICT) to control or monitor vehicles, drivers, trailers and other mobile assets. Some of these systems can monitor the location of vehicles and their activity at any given time as well as driver performance and personal security.