M&C Energy Group Glossary |
Find here terms and their explanations commonly used in Energy Industry, Finance and Trading Boards
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| There are 14 entries in the glossary. |
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| Gamma | The sensitivity of an option's delta to changes in the price of the underlying futures contract. |
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| Gas Substation | A pressure reduction station located on the customers' premises where gas is reduced from mains pressure regulated at a medium or low pressure for domestic or industrial use. |
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| Gasoil | European designation for No. 2 heating oil and diesel fuel. |
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| Gasoline, Straight-Run | Also known as raw gasoline. Gasoline which is obtained directly from crude oil by fractional distillation. Straight-run gasoline generally must be upgraded to meet current motor fuel specifications. |
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| Gate Closure | In relation to a settlement period, the time 3.5 hours before the start of that settlement period. It defines the moment when bilateral contracting ends and the Balancing Mechanism for each associated trading period begins. |
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| Generation | This covers the production of electricity at power stations. At present the main fuels used are gas, nuclear and coal, although there is now a growing use of renewable forms of energy, such as wind power, the burning of gas from landfill and waste incineration. |
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| Gigajoule (GJ) | One billion joules, approximately equal to 948,211 British thermal units. One million Btus equals 1.0546175 GJ. |
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| Gigawatt (GW) | A unit of power equal to 1 billion watts; 1 million kilowatts, or 1,000 megawatts. |
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| Gigawatt-hour (GWh) | A unit of energy equal to million kilowatt-hours. 1 GWh is equivalent to the total electricity typically used by 250 homes in one year. |
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| Good Delivery | Approved metals brands acceptable for delivery against the metals contracts. |
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| Good till Canceled | An order to be held by a broker until it can be filled or until canceled. |
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| Grade 1 Copper | Copper which is good for delivery against the COMEX Division high grade copper futures contract and meets the ASTM specification B115-91. |
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| Grid Supply Point | A point of supply from the national transmission system to the local system of the distribution network operator. |
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| GSS | Guaranteed Service Standard - customer service standards of performance that are set by OFGEM. |
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Glossary V2.0 |
