Glossary and acronyms

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A

ACCC

  • Australian Competition and Consumer Commission

Access arrangement

  • An arrangement for third party access to a pipeline provided by a service provider and approved by the relevant regulator in accordance with the Gas Code

Access arrangement information

  • Information provided by the service provider to the relevant regulator pursuant to section 2 of the Gas Code

Access regulation

  • Arrangements to provide existing and potential competitors in an existing market with access to essential facilities at reasonable terms and conditions, for example, parts of the gas, electricity, and telecommunications industries

Advocacy Panel

  • The Advocacy Panel of the National Electricity Code was established in 2003 to grant funds to representatives of domestic and business electricity customers for advocacy on the development on the National Electricity Code and the national electricity market.

AEMC

  • Australian Energy Market Commission

AER

  • Australian Energy Regulator

APIA

  • Australian Pipeline Industry Association

ATO

  • Australian Taxation Office

C

CAPEX

  • Capital expenditure

CAPM

  • Capital asset pricing model

CBA

  • Cost–benefit assessment

CIS

  • Competition impact statement

CRNP

  • Cost reflective network pricing 

D

DAC

  • Depreciated actual cost

DNSP

  • Distribution network service provider

DORC

  • Depreciated optimised replacement cost

DRP

  • Draft statement of regulatory principles

DUOS

  • Distribution use of system

E

EAG

  • Energy Action Group

ENA

  • Energy Networks Association

ERAA

  • Energy Retailers Association of Australia

ESAA

  • Electricity Supply Association of Australia

ESC

  • Essential Services Commission

ESCoSA

  • Essential Services Commission of South Australia

ESIPC

  • Electricity Supply Industry Planning Council

EUAA

  • Energy Users Association of Australia

EUG

  • Energy Users Group

F

FAR

  • Final approval request

FCAS

  • Frequency Controlled Ancillary Services

FRC

  • Full Retail Competition

G

GJ

  • Gigajoule

GST

  • Goods and services tax

GWh

  • Gigawatt hour

I

ICB

  • Initial Capital Base

ICRC

  • Independent Competition and Regulatory Commission

IPART

  • Independent Pricing and Regulatory Tribunal

IRPC

  • Inter Regional Planning Committee

K

kW

  • Kilowatt

M

MAR

  • Maximum allowable revenue

MEAV

  • Modern equivalent asset valuation

MLF

  • Marginal loss factor

MNSP

  • Market network service provider

MVA

  • Megavolt ampere

MW

  • Megawatt

MWh

  • Megawatt hour

N

NCAS

  • Network Control Ancillary Service

NCC

  • National Competition Council

NCP

  • National Competition Policy

NDSC

  • National Dispatch and Security Centres

NEC

  • National Electricity Code

NECA

  • National Electricity Code Administrator

NEDF

  • National Electricity Distributors Forum

NEM

  • National Electricity Market

NEMF

  • National Electricity Market Forum

NEMMCO

  • National Electricity Market Management Company

NET

  • National Electricity Tribunal

NGF

  • National Generator Forum

NSP

  • Network service provider

O

ODRC

  • Optimised depreciated replacement cost

ODV

  • Optimised deprival value

OPEX

  • Operation & maintenance expenditure

ORC

  • Optimised replacement cost

OTTER

  • Office of the Tasmanian Energy Regulator

P

PASA

  • Projected assessment of system adequacy

PJ

  • Petajoule

Q

QCA

  • Queensland Competition Authority

R

RAB

  • Regulated asset base

Reliability Panel

  • The Reliability Panel is responsible under the market rules for:
    • determining and maintaining the power system security and reliability standards; 
    • determining and maintaining guidelines governing the exercise of NEMMCO’s power to issue power system directions;
    • determining and maintaining guidelines and policies governing the exercise of NEMMCO’s power to contract for the provision of reserves; and 
    • reviewing the performance of the market in terms of power system security and reliability.

RIEMNS

  • Review of the Integration of Energy Markets and Network Services

RIS

  • Regulatory impact statement

S

SOO

  • Statement of Opportunities

SRA

  • Settlement Residue Auction

SRAS

  • System Restart Ancillary Service

SRP

  • Statement of regulatory principles

T

TAR

  • Tender approval request

TFP

  • Total factor productivity

TJ

  • Terajoule

TNSP

  • Transmission network service provider

TPA

  • Trade Practices Act

TUOS

  • Transmission use of system

TWh

  • Terrawatt Hours

V

VENCorp

  • Victorian Energy Networks Corporation

VOLL

  • Value of Loss Load

VWA

  • Volume Weighted Average

W

WACC

  • Weighted average cost of capital

WEPI

  • Wholesale Electricity Price Index

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