Glossary of Terms

AEMOAustralian Energy Market Operator
AESTAustralian Eastern Standard Time
Approved Energy Loss FactorThe aggregate of any applicable loss factors (including both the intra-regional loss factors and the distribution loss factors)
ASXAustralian Securities Exchange (or any successor entity).
Billing Periodmeans a period which will be as close as possible to a Contract Month.
BODBeginning of Gas Day
Business DayA day other than a Saturday or Sunday or a public holiday in the State or Territory in which the relevant Premises are located.
Carbon NeutralCompanies, processes and products become carbon neutral when they calculate their carbon emissions and compensate for what they have produced via carbon offsetting projects/certificates.
Carbon FootprintThe total amount of greenhouse gases (including carbon dioxide and methane) that are generated by a company or organisation.
Carbon offsetsBroadly refers to a reduction in GHG emissions – or an increase in carbon storage (e.g., through land restoration or the planting of trees) – that is used to compensate for emissions that occur elsewhere.
Co2Carbon Dioxide
Co2-eCarbon Dioxide equivalent
Carbon IntensityThe average carbon dioxide equivalent intensity of generators registered under the National Electricity Rules a (in tonnes of CO2-e/MWh)
Carbon Permitmeans a unit, permit, credit, offset, permission, allowance or other proprietary right capable of being used by its holder to satisfy a liability for the emission of one tonne of carbon dioxide equivalent under the Carbon Scheme
Carbon SchemeMandatory Commonwealth scheme for the management of greenhouse gas emissions or concentrations which applies to emissions relating to the generation or transmission of electric power in the National Market, or emissions from fuel sources used for the generation of electric power in the National Marke
Certificate Periodmeans each period where the first Certificate Period starts on and the last Certificate Period ends on the Expiry Date
Child Connection PointA metered point within an embedded network
CommissionAny amount that is incorporated into the charges payable by the Customer which is remitted by a retailer to the Intermediary as a commission for the services the Intermediary provided or provides to the Customer.
Contracted Gas QuantitiesACQ - Annual contract quantity
MDQ - Maximum daily quantity
MHQ - Maximum hourly quantity
DSMDemand Side management
DWGMDeclared Wholesale Gas Market (Vic)
EEIS (AEEC)Energy Efficiency Improvement Scheme (ACT)
Embedded NetworkPrivate electricity networks that serve multiple premises, such as in apartment blocks, caravan parks and shopping centres
ENOEmbedded Network Operator (ENO) takes care of procurement, billing, collection and customer service
ENMThe Embedded Network Manager (ENM) is a service provider accredited by the Australian Energy Market Operator (AEMO).
EmissionsScope 1
Scope 2
Scope 3
Feed In TariffThe energy rate paid by retailer for the export of electricity
Green PowerCarbon offset
Large-scale Renewable Energy TargetLarge-scale generation certificate-based scheme established under the Renewable Energy Act and the Renewable Energy (Electricity) (Large-scale Generation Shortfall Charge) Act 2000 (Cth), to encourage additional electricity generation from renewable energy sources.
Small-scale Renewable Energy SchemeSmall-scale technology certificate-based scheme established under the Renewable Energy Act and the Renewable Energy (Electricity) (Small-scale Technology Shortfall Charge) Act 2010 (Cth), to encourage additional electricity generation from renewable energy sources.
Default Ratesmeans the unit rates and any other relevant additional charges for the supply of electricity without a contract
Distribution Systementity responsible for the connection, transportation, delivery or physical supply of electricity to the Site
Emissions and Renewable Energy LegislationRenewable Energy (Electricity) Act 2000 and any other Energy Law which has as one of its purposes the reduction or limitation of greenhouse gases or the minimisation of the impact on the environment of the electricity industry generally.
Emissions and Renewable Energy SchemeA scheme, program or requirement established under Emissions and Renewable Energy Legislation. Schemes which may include the Commonwealth Large-scale Renewable Energy Target, the Commonwealth Small-scale Renewable Energy Scheme, the NSW Energy Savings Scheme, the Retailer Energy Productivity Scheme, and the Victorian Energy Efficiency Target Scheme.
Energy LawMeans any statute, regulation, code, rules, direction, mandatory guideline, licence condition or other regulatory instrument which governs or affects any one or more of the price of electricity, the cost to AGL of purchasing or selling electricity, the Delivery of Electricity, the sale of electricity to the Customer or the electricity industry generally.
ESCEnergy savings certificate created under the NSW Energy Savings Scheme.
ESTEastern Standard Time
Final Scheme Percentage(a) in relation to ESCs, the value calculated as the product of the energy savings scheme target multiplied by the energy conversion factor for that year, each as set out in Schedule 5 of the NSW Act;
(b) in relation to LGCs, the renewable power percentage for that year determined in accordance with Part 4, Division 2 of the Renewable Energy Act (expressed in decimals);
(c) in relation to STCs, the small-scale technology percentage for that year determined in accordance with Part 4, Division 2A of the Renewable Energy Act (expressed in decimals); and
(d) in relation to VEECs, the greenhouse gas reduction rate for electricity for that year determined in accordance with Part 4 of the VIC Act.
FRMPFinancially Responsible Market Participant
FCASFrequency Control Ancillary Services
FRCFull Retail Competition
GJGigajoule - measurement of gas
IntermediaryBroker, buying group or other third party involved in providing energy brokering, procurement or contracting advice to the Customer.
KVAKilovolt ampere - kVA is a measure of apparent power
KWhKilo Watt Hour - measurement of electricity
LGCLarge-scale generation certificate created under the Commonwealth Large-scale Renewable Energy Target.
LNSPLocal Network Service Provider
LORLack of reserve - This condition exists when reserve levels are lower than the two largest supply resources in a state. Also LOR2 and LOR3 increasing in severity in lack of demand
Loss factorsmeans the transmission or distribution loss factors (as applicable) for a Site published or determined by AEMO
Market ChargesCharges associated with the operation of the National Market imposed by Energy Law, the System Operator, any other regulatory authority or with the Customer’s agreement, and includes any ancillary services, charges, or costs, and includes charges associated with AEMO’s Reliability and Emergency Reserve Trader function.
Metering ChargesMetering costs in relation to the Premises, or charges in relation to the provision of Metering Equipment and any Metering Installation and the collection and distribution of metering data
Metering CoordinatorCustomer Appointed MC or an Retailer MC appointed to provide metering services in accordance with the National Electricity Rules and Energy Laws including:
Metering Data ProviderProvision of interval data
Metering EquipmentEquipment installed (or to be installed) to measure, record and in certain cases forward the data relating to the amount of electricity delivered to a Premises from the Distribution System
Metering ProviderThe owner, installer of metering equipment
MSATSMarket Settlement and Transfer Solution Procedures
MWhMegawatt hours - 1000 KWhs
NEMNational Electricity Market
National Energy Retail RulesRules made pursuant to the National Energy Retail Law.
National MarketAustralian wholesale electricity market operated under the National Electricity Rules.
Network ChargesCosts charged by the Distributor in relation to the Premises including the cost of Delivery of Electricity and connection to the Distribution System and any excluded services.
NMINational Meter Identifier
Off PeakAll other times not defined under Peak or Shoulder.
Peak means:(a) for New South Wales and the Australian Capital Territory, 7.00 am – 9.00 am and 5.00 pm – 8.00 pm local time on Business Days (example only refer to your retailer for exact times, dates)
(b) for South Australia, 7.00 am – 9.00 pm local time on Monday to Friday (example only refer to your retailer for exact times, dates)
(c) for Victoria, 7.00 am – 11.00 pm local time on Monday to Friday (example only refer to your retailer for exact times, dates)
(d) for Queensland, 7.00 am – 11.00 pm local time on Business Days and Gazetted Show holidays throughout Queensland (example only refer to your retailer for exact times, dates)
PDRSPeak Demand Reduction Scheme
PPProgressive Purchasing
Pricing TermPeriod from the Commencement Date to the Pricing Termination Date.
REPSRetailer Energy Productivity Scheme
RERTReliability and Emergency Reserve Trader - is a function conferred on AEMO to maintain power system reliability and system security using reserve contracts
Roll In/Roll OutFor each contract Period for each State, the number of contracted sites that can be rolled into a contract or rolled out of a contract without penalty
RRPRegional Reference Price - applicable each Trading Interval
SecurityA refundable deposit or pre-payment, guarantee from a third party or other security
ShoulderNew South Wales and the Australian Capital Territory, 9.00 am – 5.00 pm and 8.00 pm – 10.00 pm local time on Business Days (example only refer to your retailer for exact times, dates)
STCSmall-scale technology certificate created under the Commonwealth Small-scale Renewable Energy Scheme.
STTMShort Term Trading Mechanism (NSW, QLD, SA and ACT)
System OperatorAny person or body appointed under Energy Law whose functions are, amongst other things, to operate and administer the National Market, control the security of the electricity supply system, or regulate and monitor the electricity transmission system.
Take or Pay PercentageThe minimum amount of gas that must be consumed without penalty - Typically 80%
Trading DayDay on which the ASX is due to be open for trading during its regular trading session.
TNSPTransmission Network Service Provider
UAFGUnaccounted for Gas
UFEUnaccounted for Energy
VEECVictorian energy efficiency certificate created under the Victorian Energy Efficiency Target Scheme.
Victorian Energy Efficiency Target SchemeScheme established under the VIC Act to reduce greenhouse gas emissions and encourage investment, employment and technology development in industries that supply goods and services which reduce the use of electricity and gas of consumers.
Wholesale Energy ContractMeans a wholesale, power purchase, hedge or other similar contract that has the purpose or effect of reducing  exposure to the volatility of the wholesale cost of acquiring electricity in the National Market.
Zero EmissionsZero emissions, or ‘absolute’ or ‘true’ zero, refers to zero greenhouse gas emissions. Achieved without the use of offsetting to balance emissions.
100% Renewable Energy100% renewable is when the amount of renewable energy produced is equal to or more than what is consumed.