Pacific Basin

 

Definition: Region bordering the Pacific Ocean where natural gas and petroleum are extracted.

 

Pass-through Charges

 

Definition: Charges that appear on bills to cover the costs of third parties involved in the energy supply chain to deliver a customer's power.

 

Peak Load

 

Definition: Electricity load between 7:00 and 19:00 Monday to Friday.

 

Peak Power Contract

 

Definition: A contract traded solely for the period 7:00 to 19:00 on weekdays only for the duration of the contract in question.

 

Peak Shaving

 

Definition: During times of peak demand, supplies from sources other than normal suppliers are used to reduce demand on the system.

 

Physical Electricity Index (Phelix)

 

Definition: The reference price for power in Germany and large parts of central Europe.

 

Power Exchange

 

Definition: An entity set up to provide an efficient, competitive trading area, open on a non-discriminatory basis to all electricity suppliers, which meets the loads of all exchange customers at efficient prices.

 

Power Factor (PF)

 

Definition: The relationship between kw and KVa in an electrical circuit..

 

Power Marketers

 

Definition: Business entities engaged in buying, selling, and marketing electricity. They do not usually own generating or transmission facilities. They take ownership of the electricity and are involved in interstate trade. These entities file with the Federal Energy Regulatory Commission for status as a power marketer.

 

Power Purchase Agreement (PPA)

 

Definition: A contract between two parties, one that generates electricity for the purpose of sale (the seller) and one that is looking to purchase electricity (the buyer).

 

Powernext

 

Definition: A Paris-based company operating a European energy exchange that provides an electronic market for the trading of energy contracts in Europe.

 

Price Cap

 

Definition: Price control over electricity or gas prices.

 

Prompt Market (PM)

 

Definition: Refers to trading for delivery between (but not including) within-day trading and the next month (front-month). This includes a number of products, such as products for delivery in the following day (e.g. day-ahead), weekend, weekdays, and trades for the balance of the week and balance of the month.