Like many industries, the energy industry has developed an language all of it's own. Brokers and suppliers talk about Duos Charges and Triads and avialabiity, but what to they actually mean?

We've put together what we think is the most complete glossary of energy terms on the net, if you can't find what you're looking for here give us a call and we'll see if we can help you.

N

NAP:

National Allocation Plan. Each Country is required, under the EU_ETS scheme to produce a plan for reducing carbon emissions. The plan, once approved by the EU, determines the total amount of carbon that can be produced, and hence the allocation of EUAs to industry.

NBP:

National Balancing Point. A notional point in the UK national transmission system (NTS) used as a delivery point for gas that is traded ‘entry paid’ – i.e., already in the NTS, rather than at the beach. For accounting and balancing purposes, all gas is said to flow through this point.

NETA:

New Electricity Trading Arrangement introduced in March 2001 for England and Wales.  NETA is a system of bilateral trading between generators, suppliers and consumers on the UK market, the aim of which is to reduce wholesale electricity prices. Replaced by BETTA on April 1st 2005.

NFFO:

Non Fossil Fuel Obligation; a statutory measure that used to require suppliers to purchase electricity from certain renewables plants installed pursuant to a series of bidding processes, ending with NFFO-5 before the introduction of the RO in 2002.

NGTA:

New Gas Trading Arrangements. The new gas trading arrangements were introduced in the UK in October 1999 in an attempt to improve the efficiency of the balancing system.  The arrangements consist of the on-the-day commodity market, auctions of entry capacity and improved incentives for shippers to balance their own positions.

NFPA:

Non-Fossil Purchasing Agency, which sells the output of the NFFO projects.

NGC:

National Grid Company, the UK electricity Transmission Operator. Now part of National Grid Transco.

NGET:

National Grid Electricity Transmission (previously National Grid Transco and National Grid). Nat

NTS:

National Transmission System. The UK high-pressure pipeline system, owned by:National Grid Transco, used to transport gas between terminals, storage facilities, large consumers and regional sites. When the gas leaves the NTS at an offtake, it goes through a series of pressure-reducing tiers before it reaches the consumer.

National Allocation Plan:

Each participating country in the EU ETS must produce a National Allocation Plan (NAP). The plan shows the overall amount of allowances to be allocated for the EU ETS in that country for any given phase of the scheme, and how those allowances will be allocated to all installations participating in the EU ETS in that country.

Natural Gas:

Gas consisting of methane and ethane that occurs naturally in the earth’s crust. It is often found in association with crude oil, when it is called associated gas. Futures and options contracts are traded on the New York Mercantile Exchange, International Petroleum Exchange and Kansas City Board of Trade.

NPV:

Net Present Value. A technique for assessing the worth of future payments by looking at the present values of those futures cashflows discounted at today’s cost of capital.

Netting:

An agreement that offsets the values of contracts by creating a single net exposure between counterparties.

NordPool:

The Nordic Power Exchange is the world's first international commodity Exchange for electrical power. Nord Pool organizes trade in standardized physical (Elspot) and financial power contracts including clearing services to Nordic participants, and provides customer-support in Sweden, Finland, Norway and Denmark. Being the Nordic Power Exchange, Nord Pool plays a keyrole as part of the infrastructure of the Nordic electricity power market and thereby provide an efficient, publicly known price on electricity, both in the spot and the derivatives market

NOx:

Nitrous oxide and other oxides of nitrogen.

Nuclear electric power (nuclear power):

 Electricity generated by the use of the thermal energy released from the fission of nuclear fuel in a reactor.

Nuclear Fuel:

Fissionable materials that have been enriched to such a composition that, when placed in a nuclear reactor, will support a self-sustaining fission chain reaction, producing heat in a controlled manner for process use.