Encore Glossary |
Find here terms and their explanations commonly used in Energy Industry, Finance and Trading Boards
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| There are 20 entries in the glossary. |
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| EFP | See Exchange of Futures for Physicals. |
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| Electric Utility | An enterprise that is engaged in the generation, transmission, and/or distribution of electric energy primarily for use by the public and is the major power supplier within a designated service area. Electric utilities include: investor-owned, publicly owned, cooperatively owned, and government-owned entities. |
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| Electronic Trader | A person who is authorized to enter orders for his own account and/or for customers' accounts on the NYMEX ACCESS electronic trading system. |
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| Embedded Generator | A generator with a direct connection to a PES's distribution system, rather than NGC's transmission system. |
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| End-User | The ultimate consumer of petroleum products or natural gas; most commonly refers to large commercial, industrial, or utility consumers. |
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| Energy Watch | A non-governmental body set up to safeguard the interests of energy users. |
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| Energy White Paper | The White Paper is the first comprehensive, forward-looking statement of UK energy policy for over 20 years. The white paper sets four new goals for energy policy: to put ourselves on a path to cut the UK's carbon dioxide emissions by 60% by the year 2050, with real progress by 2020, to maintain the reliability of energy supplies, to promote competitive energy markets in the UK and beyond and to ensure that every home is affordably heated |
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| Enhanced Capital Allowance | Enhanced Capital Allowances (ECAs) enable a business to claim 100% first-year capital allowances on their spending on qualifying plant and machinery. |
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| European Emissions Trading Scheme | The EU ETS is one of the policies being introduced across Europe to tackle emissions of carbon dioxide and other greenhouse gases and combat the serious threat of climate change. The scheme will commence on 1 January 2005. The phase runs from 2005-2007 and the second phase will run from 2008-2012 to coincide with the first Kyoto Commitment Period. Further 5-year periods are expected subsequently. |
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| European Option | An option that may be exercised only on its expiration date.
See also:
American Option |
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| Excess Availability Charges | A penalty charge being applied by certain suppliers to clients who are drawing kVa above their Available Supply Capacity (ASC). This can be three times the contracted pence per kVa rate. See also: Availability Charge |
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| Exchange Certified Stocks | Stocks of commodities held in depositories or warehouses certified by an Exchange-approved inspection authority as constituting good delivery against a futures contract position. Current total certified stocks are reported in the press for many important commodities such as platinum. |
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| Exchange of Futures for Cash | A transaction in which the buyer of a cash commodity transfers to the seller a corresponding amount of long futures contracts, or receives from the seller a corresponding amount of short futures, at a price difference mutually agreed upon. In this way, the opposite hedges in futures of both parties are closed out simultaneously. |
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| Exchange of Futures for Physicals | A futures contract provision involving an agreement for delivery of physical product that does not necessarily conform to contract specifications in all terms from one market participant to another and a concomitant assumption of equal and opposite futures positions by the same participants at the time of the agreement. |
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| Exercise | The process of converting an options contract into a futures position. |
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| Exercise Price | The price at which the underlying futures contract will be bought or sold in the event an option is exercised. Also called the strike price. |
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| Exit Point | A point of connection at which a supply of electricity may flow between the Rec's system and the client's installation, suppliers installation or the distribution system of another person. |
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| Expiration Date | The date and time after which trading in an options contracts terminates, and after which all contract rights or obligations become null and void. |
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| Extra High Voltage | 22,000 volts or higher voltage |
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| Extrinsic Value | The amount by which the premium exceeds its intrinsic value. Also known as time value. |
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Glossary V2.0 |
