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Energy Glossary

Energy Terms Glossary

You can read the terms more easily with the glossary we created for the descriptions and use areas of energy terms, as well as the calculation methods.

Lot

It is the amount of energy corresponding to 0.1 MWh, which is used to submit proposals within the scope of the day-ahead market through bilateral agreements that are the basis for reconciliation.

Central Reconciliation Bank Agreement

It is an agreement which is to be signed between the market operator and the central reconciliation bank and which covers the roles and responsibilities of the parties regarding security management and payments.

Central Reconciliation Bank

It is the central reconciliation organization which is established as the central clearing institution as per the Capital Markets Law No. 6362 dated 6/12/2012 and which is used to conduct the financial transactions to be determined with this Regulation (Electricity Market Compensation-Reconciliation Regulation) among market participants.

Final Day-Ahead Production / Consumption Program

It is the production or consumption values, which the balancing party (to which a reconciliation-based giving-receiving unit is attached) expects to realize the next day depending on their liabilities and the result of the day-ahead balancing, and which the said balancing party reports to the system operator at the beginning of the balancing energy market.

National Load Dispatch Center

It is the central unit that is part of the Turkish Electricity Transmission Corporation (TEİAŞ) and that is responsible for balancing the supply and demand for electrical energy in real time and for operating the system.

Mobil Jeneratör

Taşınabilir, geçici elektrik kaynağı sağlayan jeneratörlerdir.

Final Market Clearing Price

For a specific hour and a specific proposal area, it is the hourly electrical energy purchase-sales price determined according to the transmission restrictions between proposal areas.

Nükleer Enerji

Atom çekirdeğinin parçalanması veya birleştirilmesiyle elde edilen enerjidir. Bu enerji, büyük miktarda elektrik üretimi için kullanılır ancak atık yönetimi ve güvenlik açısından zorluklar barındırır.Detaylı bilgi için "Nükleer Enerji Nedir?" yazımızı inceleyebilirsiniz.

Organized Wholesale Electricity Market

It covers electricity markets such as the intra-day market and the day-ahead market where electrical energy and capacity are purchased/sold or retail purchasing/sales of the same is done and which are organized and operated by a central intermediary legal entity that holds a market operating license; markets operated by Borsa İstanbul Anonim Şirketi (Istanbul Stock Exchange) where standardized electricity contracts, which act as a capital market instrument, and the derivative products based on electrical energy and/or capacity are traded; and the electricity markets, such as the balancing energy market and subsidiary services market, organized and operated by the Turkish Electricity Transmission Corporation (TEİAŞ).

Medium Voltage

It is the contractual power between 1 kV and 36 kV.

Automated Meter Reading System (OSOS)

It is a system that will be established by the Turkish Electricity Transmission Corporation (TEİAŞ) and legal entities with a distribution license and that contains the software, hardware and communication infrastructure required, in order to remotely read the data on the meters, transfer such data to a central system, validate the data, complete missing data, store the data and submit the same to the relevant parties in the desired format.

Billing Period Dependent on Payment Notice

It defines the period for which the consumption was measured for the relevant bill. Billing period is determined by the parties in the bilateral agreement. Otherwise, billing period will be the same as the reading period.

Measuring System

It covers all measurement equipment including meters, measurement transformers (voltage and current transformers), relevant communication equipment and cabling.

Retail Sales Price

It is the sales price applied to non-eligible consumers within the scope of energy supply.

Retail Sales Contract

It is a contract that is signed between the contracted supplier and consumers for a place of use for which a connection agreement is present, in compliance with the provisions of the relevant legislation. This contract sets out the terms and conditions for the activities carried out to supply and receive electrical energy and/or capacity based on the retail sales tariff or end source tariff.