This is the market condition wherein the energy market prices of the current day are higher than the predicted future market prices for energy. This is seen as a positive bias as it represents an opportunity for customers to save on their future energy contracts if they were to lock in now. The alternative to this is contango.
The mechanism used by the National Grid Company to balance the supply and demand of electricity in each half hour trading period of every day.
Barrel of oil (bbl)
This is the unit of measurement used by oil and energy organisations. 1 barrel = 0.16 m3.
Base load is the level below which electricity demand never drops.
This term is used to describe an expected drop in energy prices. The name is used because the graph created during this downward trend is similar to the stance taken by a bear during an attack.
This Governmental department brings together responsibilities for business, industrial strategy, science, innovation, energy, and climate change.
Biomass & Biofuel
Biomass, also known as biofuels or bioenergy, is a source of renewable fuel obtained from organic sources.
This is a digital ledger that provides a secure way of making and recording transactions, agreements and contracts – anything that needs to be recorded and verified as having taken place. The concept came to prominence in 2008 with the invention of the digital currency Bitcoin.
The most commonly traded North Sea crude oil which also acts as a global benchmark for other grades of oil.
An organisation that works on behalf of other businesses to negotiate utility deals. Usually they focus solely on “the deal” which can result in good discounts. However, there is a danger that they are not reviewing the market but instead have a prerequisite quota with a utility company. To add to this they often don’t provide any additional supporting services.
This is used to assess the environmental performance of both new and existing buildings. Credits are awarded in each area according to performance.
This term is used to describe an expected increase in energy prices. The name is used because the graph created during this upward trend is similar to the stance taken by a bull during an attack.
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