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.

Transmission Capacity

It is the electrical energy in megawatts (MW) that can be sent/received at any point of the transmission system.

Transmission System Configuration

It covers the calculation rules that contain details such as the meters to be considered to calculate the electrical energy given to or received from the transmission system, position of the meters in terms of giving or receiving energy, and the coefficients of loss to be applied to the meters.

Transmission System Configuration

It is the general term used for the electricity transmission facilities and the grid.

Transmission

It is the process of transmitting electrical energy through lines with a voltage level above 36 kV.

Nominal Connection Point

It is the nominal point used to calculate losses in the Procedures and Principles for the Methodology to Calculate Coefficients of Loss, which was drawn up by the Authority and approved by its Board of Directors to come into effect.

Final Day-Ahead Production / Consumption Program

It is the production or consumption values, which the balancing party (to which a reconciliation-based giving-receiving unit is attached) expects to realize the next day depending on their liabilities and the result of the day-ahead balancing, and which the said balancing party reports to the system operator at the beginning of the balancing energy market.

Restriction Management

It refers to the methods to eliminate the restrictions that exist or are expected to exist in the transmission system.

Unrestricted Market Clearing Price

It is the hourly electrical energy purchase-sales price determined by matching the purchase-sales proposals offered for all proposal areas in the day-ahead market for a certain hour.

Lot

It is the amount of energy corresponding to 0.1 MWh, which is used to submit proposals within the scope of the day-ahead market through bilateral agreements that are the basis for reconciliation.

Central Reconciliation Bank Agreement

It is an agreement which is to be signed between the market operator and the central reconciliation bank and which covers the roles and responsibilities of the parties regarding security management and payments.

Central Reconciliation Bank

It is the central reconciliation organization which is established as the central clearing institution as per the Capital Markets Law No. 6362 dated 6/12/2012 and which is used to conduct the financial transactions to be determined with this Regulation (Electricity Market Compensation-Reconciliation Regulation) among market participants.

Final Day-Ahead Production / Consumption Program

It is the production or consumption values, which the balancing party (to which a reconciliation-based giving-receiving unit is attached) expects to realize the next day depending on their liabilities and the result of the day-ahead balancing, and which the said balancing party reports to the system operator at the beginning of the balancing energy market.

National Load Dispatch Center

It is the central unit that is part of the Turkish Electricity Transmission Corporation (TEİAŞ) and that is responsible for balancing the supply and demand for electrical energy in real time and for operating the system.

Final Market Clearing Price

For a specific hour and a specific proposal area, it is the hourly electrical energy purchase-sales price determined according to the transmission restrictions between proposal areas.

Organized Wholesale Electricity Market

It covers electricity markets such as the intra-day market and the day-ahead market where electrical energy and capacity are purchased/sold or retail purchasing/sales of the same is done and which are organized and operated by a central intermediary legal entity that holds a market operating license; markets operated by Borsa İstanbul Anonim Şirketi (Istanbul Stock Exchange) where standardized electricity contracts, which act as a capital market instrument, and the derivative products based on electrical energy and/or capacity are traded; and the electricity markets, such as the balancing energy market and subsidiary services market, organized and operated by the Turkish Electricity Transmission Corporation (TEİAŞ).