Glossary

A

ABS

Australian Bureau of Statistics

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 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

ACL

Australian Consumer Law

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

AEMA

Australian Energy Market Agreement

AEMC

Australian Energy Market Commission

AEMO

Australian Energy Market Operator

AGS

Australian Government Solicitor

AMI

Advanced Metering Infrastructure

APIA

Australian Pipeline Industry Association

ASIC

Australian Securities and Investments Commission

ASX

Australian Stock Exchange

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B

BB

National Gas Market Bulletin Board (NGMBB

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C

CAM

Cost Allocation Method

CAPEX

Capital Expenditure

CAPM

Capital Asset Pricing Model

CBA

Cost–Benefit Assessment

CCA

Competition and Consumer Act 2010

CCG

Customer Consultative Group

CCG

Consumer Consultative Group

CCGT

Combined Cycle Gas Turbine

CDPP

Commonwealth Director of Public Prosecution

CIR

Congestion Information Resource

CIS

Competition Impact Statement

COAG

Council of Australian Governments

CPI

Consumer Price Index

CPRS

Carbon Pollution Reduction Scheme

CPT

Cumulative Price Threshold

CRNP

Cost Reflective Network Pricing

CSG

Coal Seam Gas

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D

DAC

Depreciated Actual Cost

DNSP

Distribution Network Service Provider

DORC

Depreciated Optimised Replacement Cost

DPI

Victorian Department of Primary Industries

DRA

Dispute Resolution Adviser

DRP

Draft Statement of Regulatory Principles

DUOS

Distribution Use Of System

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E

EAG

Energy Action Group

EBSS

Efficiency Benefit Sharing Scheme

EDPR

Electricity Distribution Price Review

Electricity Law

National Electricity Law (NEL)

Electricity Rules

National Electricity Rules (NER)

ENA

Energy Networks Association

ERA

Economic Regulation Authority of WA

ERAA

Energy Retailers Association of Australia

ESAA

Electricity Supply Association of Australia

ESCoSA

Essential Services Commission of South Australia

ESCV

Essential Services Commission of Victoria

ESIPC

Electricity Supply Industry Planning Council

EUAA

Energy Users Association of Australia

EUG

Energy Users Group

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F

FAR

Final Approval Request

FCA

Federal Court of Australia

FCAS

Frequency Controlled Ancillary Services

FIT

Feed-in Tariff

FOI

Freedom of Information

FRC

Full Retail Competition

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G

Gas Law

National Gas Law (NGL)

Gas Rules

National Gas Rules (NGR)

GJ

Gigajoule

GSL

Guaranteed Service Level

GSOO

Gas Statement of Opportunities

GST

Goods and Services Tax

GW

Gigawatt

GWh

Gigawatt hour

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I

ICB

Initial Capital Base

ICRC

Independent Competition and Regulatory Commission of the ACT

IDGCC

Integrated Drying Gasification Combined Cycle

IGCC

Integrated Gasification Combined Cycle

IPART

Independent Pricing and Regulatory Tribunal of NSW

IRPC

Inter Regional Planning Committee

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K

kV

Kilovolt

kW

Kilowatt

kWh

Kilowatt hour

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L

LNG

Liquefied Natural Gas

LNSP

Local Network Service Provider

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M

MAR

Maximum Allowable Revenue

MCE

Ministerial Council on Energy

MEAV

Modern Equivalent Asset Valuation

MLF

Marginal Loss Factor

MNSP

Market Network Service Provider

MOS

Market Operator Services

MOU

Memoranda of Understanding

MVA

Megavolt ampere

MW

Megawatt

MWh

Megawatt hour

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N

NCAS

Network Control Ancillary Service

NCC

National Competition Council

NCP

National Competition Policy

NDSC

Negotiated Distribution and Service Criteria

NEC

National Electricity Code

NECA

National Electricity Code Administrator

NEDF

National Electricity Distributors Forum

NEL

National Electricity Law

NEM

National Electricity Market

NEMDE

National Electricity Market Dispatch Engine

NEMF

National Electricity Distributors Forum

NEMMCO

National Electricity Market Management Company

NERL

National Energy Retail Law

NERR

National Energy Retail Rules

NET

National Electricity Tribunal

NGF

National Generator Forum

NGMBB

National Gas Market Bulletin Board

NSP

Network Service Provider

NTP

National Transmission Planner

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O

OCGT

Open Cycle Gas Turbine

ODRC

Optimised Depreciated Replacement Cost

ODV

Optimised Deprival Value

OPEX

Operating Expenditure

ORC

Optimised Replacement Cost

OTC

Over-the-counter financial markets for electricity derivatives

OTTER

Office of the Tasmanian Economic Regulator

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P

PASA

Projected Assessment of System Adequacy

PJ

Petajoule

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Q

Q

Quarter

QCA

Queensland Competition Authority

QNI

Queensland to New South Wales Interconnector

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R

RAB

Regulated Asset Base

Reliability Panel

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

RERT

Reliability and Emergency Reserve Trader

RET

Renewable Energy Target

RIEMNS

Review of the Integration of Energy Markets and Network Services

RIS

Regulatory Impact Statement

RIT-T

Regulatory Investment Test for Transmission

RoLR

Retailer of Last Resort

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S

SAIDI

System Average Interruption Duration Index, means the length of time each customer is without supply when averaged over all customers in the distribution network (or defined part of the distribution network)

SAIFI

System Average Interruption Frequency Index, means the number of supply interruptions each customer experiences for the year when averaged over all customers on the distribution network (or defined part of the distribution network)

SFE

Sydney Futures Exchange

SOO

Statement of Opportunities

SRA

Settlement Residue Auction

SRAS

System Restart Ancillary Service

SRP

Statement of Regulatory Principles

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T

TAR

Tender Approval Request

TFP

Total Factor Productivity

TJ

Terajoule

TJ/d

Terajoules per day

TNSP

Transmission Network Service Provider

TPA

Trade Practices Act 1974

TUOS

Transmission Use of System

TW

Terawatt

TWh

Terrawatt hour - where Terra is an SI prefix and represents a multiplier of 1x10 to the power of 12

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V

VENC

Victorian Energy Networks Corporation

VIC EDC

Victorian Electricity Distribution Code

VIC GSL

Victorian Guaranteed Service Level

VOLL

Value of Loss Load

VWA

Volume Weighted Average

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W

WACC

Weighted Average Cost of Capital

WEPI

Wholesale Electricity Price Index

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