Encore Glossary |
Find here terms and their explanations commonly used in Energy Industry, Finance and Trading Boards
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| There are 19 entries in the glossary. |
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| Imbalance | A situation where there is a difference between the amount of power produced and the amount of electricity contracted or sold. |
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| Imbalance Energy | Discrepancy between the amount that a seller contracted to deliver and the actual volume of power delivered. Imbalances are resolved through monetary payment. |
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| Immediate or Cancel | An order which must be filled immediately or be canceled. IOC orders need not be filled in their entirety. |
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| Implied Volatility | A measurement of the market's expected price range of the underlying commodity futures based on market-traded options premiums. |
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| IMServ | IMServ are an independent data collector of Half Hourly Data, from whom Broadfern purchase data. IMServ are responsible for checking the accuracy of the data. |
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| In-the-Money | An option that can be exercised and immediately closed out against the underlying market for a cash credit. The option is in-the-money if the underlying futures price is above a call option's strike price, or below a put option's strike price. |
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| In-well Transfer | An inventory transfer of propane held in underground caverns or storage. |
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| Inadvertent Energy | The imbalance of energy flows back and forth that are on-going and routine between a generator of power and the centers of demand. These imbalances are typically settled through exchanges of physical product. |
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| Independent | Term generally applies to a non-integrated oil or natural gas company, usually active in only one or two sectors of the industry. An independent marketer buys petroleum products from major or independent refiners and resells them under his own brand name or buys natural gas from producers and resells it. There are also independents which are active exclusively either in oil or gas production or refining. |
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| Independent Power Producer (IPP) | A non-utility power generating company that is not a qualifying facility (See Qualifying Facility). |
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| Integration | A term that describes the degree in, and to, which one given company participates in all phases of the petroleum industry. |
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| Interconnector | A connection or link between power systems that enables them to draw on each others' reserve capacity in time of need. |
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| Interruptible Gas | Gas supplied to a customer whose site has an alternate fuel source, on the basis that the supply might be interrupted for a specified period. |
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| Interruptible Service | Utility service which expects and permits interruption on short notice, generally in peak-load periods, in order to meet the demand by firm service customers. Interruptible service customers usually pay a lower rate than firm service customers. Opposite of Firm Service. |
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| Intrinsic Value | The amount by which an option is in-the-money. An option which is not in-the-money has no intrinsic value. For calls, intrinsic value equals the difference between the underlying futures price and the option's strike price. For puts, intrinsic value equals the option's strike price minus the underlying futures price. Intrinsic value is never less than zero. |
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| Introducing Broker | A firm engaged in soliciting or in accepting orders for the purchase or sale of any commodity for future delivery. |
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| Inverted Market | A futures market is said to be inverted when distant contract months are selling at a discount to nearby contract months; also known as backwardation. |
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| Invisible Supply | Uncounted stocks of a commodity in the hands of wholesalers, manufacturers and producers which cannot be identified accurately; stocks outside commercial channels but theoretically available to the market. |
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| IPPC | Regulatory demands on industrial activity throughout the EC are more stringent than ever. The Integrated Pollution and Control (IPPC) directive means companies face new aspects for consideration, controls to put in place and an increase in work required to obtain and comply with environmental permits. |
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Glossary V2.0 |
