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.

Price Area

It covers all proposal areas that have the same hourly marginal price for a reconciliation period within the scope of the balancing energy market.

Real-Time Balancing

It refers to the activities carried out by the system operator to balance, in real time, the supply and demand for active electrical energy.

Day-Ahead Balancing

It refers to the day-ahead planning or the activities related to the day-ahead market for the day-ahead balancing of the supply and demand on the system and/or the production and/or consumption plans through the contractual commitments of market participants.

Day-Ahead Price

It refers to the system marginal prices determined as part of the day-ahead planning, or the final market clearing prices determined in the day-ahead market.

Day-Ahead Price

It refers to the system marginal prices determined as part of the day-ahead planning, or the final market clearing prices determined in the day-ahead market.

Day-Ahead Market Price

It refers to the system marginal prices determined as part of the day-ahead planning, or the final market clearing prices determined in the day-ahead market.

Day-Ahead Market Participation Agreement

It is a standard agreement that contains the terms and conditions regarding the market participant’s participation in the day-ahead market and the Market Operator’s operation of the day-ahead market.

Day-Ahead Market Proposals

These include the hourly purchase-sales proposals, block purchase-sales proposals and flexible sales proposals offered by market participants participating in the day-ahead market.

Day-Ahead Market Proposals

These include the hourly purchase-sales proposals, block purchase-sales proposals and flexible sales proposals offered by market participants participating in the day-ahead market.

Day-Ahead Planning Module

It is a software module within the scope of the Market Management System, used by the Market Operator and the system operator in order to determine the system marginal prices and create the day-ahead program in a manner that will minimize the balancing costs, as part of day-ahead planning.

Day-Ahead Planning

It refers to the activities carried out under the coordination of the Market Operator in order to balance the hourly demand -which is estimated for the next day- on the day ahead until the time that the day-ahead market is active.

Day-Ahead Program

It is the national-scale production/consumption program created for the next day as a result of the day-ahead balancing activities.

Day-Ahead System Purchase Proposals

These include the hourly and block purchase proposals offered as part of the day-ahead balancing activities.

Day-Ahead System Sales Proposals

These include the hourly, block and flexible sales proposals offered as part of the day-ahead balancing activities.

Bilateral Agreements

These are trade agreements for purchasing and selling electrical energy, signed between natural persons or legal entities and license holder legal entities, or just between license holder legal entities, subject to private law provisions.