Glossary for the electricity sector

Term 

Description 

ADMD 

After Diversity Maximum Demand 

ADMS 

Advanced Distribution Management Systems 

AEMO 

Australian Energy Market Operator 

AI 

Artificial Intelligence 

AMI 

Advanced Metering Infrastructure (i.e. Smart Meters) 

AMP 

Asset Management Plan 

AMS

Asset Management System

ARC 

Audit Risk Committee 

BA 

Business Assurance  

BBAR 

Building Blocks Allowed Returns 

BBC 

Benefit Based Charges 

BBI 

Benefit Based Investments 

BCG 

Boston Consulting Group 

BCP

Business Continuity Plan

BESS 

Battery Energy Storage Systems 

BEV 

Battery Electric Vehicle 

BP 

Business Plan 

CAB 

Contracted Asset Base 

CAIDI 

Customer Average Interruption Duration Index  

c/kWh 

Cents per kilowatt hour 

Cap cons 

Capital Contributions 

CAPEX 

Capital Expenditure 

CBD 

Central Business District 

CC or Com Com 

Commerce Commission 

CCC 

Climate Change Commission 

CCGT 

Combined Cycle Gas Turbines 

CCS 

Customer Compensation Scheme 

CCS 

Carbon Capture and Storage 

CCD 

Clean Car Discount 

CER 

Consumer Energy Resource 

Code (the Code)

Electricity Industry Participation Code 2010

CPI 

Consumer Price Index 

CPP 

Customised Price Path 

CRM 

Customer Relationship Management 

CSR 

Corporate Social Responsibility 

CT

Current Transformer

CY 

Calendar Year 

DCF 

Discounted Cash Flow 

DDA 

Default Distributor Agreement 

DR 

Demand Response 

DER 

Distributed Energy Resources 

D & I 

Diversity and Inclusion 

DNO 

Distribution Network Operators 

DNSP 

Used in Australia meaning Distributed Network Service Provider 

DPP 

Default Price Path 

DSO 

Distribution System Operator 

ECI 

Early Contractor Involvement  

ECNZ 

Electricity Corporation of New Zealand 

EA 

Electricity Authority 

EAAG 

Electricity Authority Advisory Group 

EBIT 

Earnings Before Interest and Tax 

EBITDA 

Earnings Before Interest, Taxes, Depreciation and Amortisation 

EDB 

Electrical Distribution Business 

EEA 

Electricity Engineers’ Association 

EECA 

Energy Efficiency & Conservation Authority 

EIEP

Electricity Information Exchange Protocols

ENA 

Electricity Networks Aotearoa 

ERANZ

Electricity Retailers' Association of New Zealand

ERP 

Emissions Reduction Plan 

ESG 

Environmental, Social and Governance 

ETS 

Emissions Trading Scheme 

EV 

Electric Vehicle 

FBT 

Fringe Benefit Tax 

FFO 

Funds From Operation 

FIR 

Fast Instantaneous Reserves 

FMA 

Financial Markets Authority 

FMD 

First Mover Disadvantage 

FN 

Future Network 

FSR 

Future Security and Resilience 

FTE 

Full Time Employee 

GDP 

Gross Domestic Product 

Gentailers 

Generators and Retailers 

GIC 

Gas Industry Company 

GIDI Fund 

Government Investment in Decarbonising Industry Fund  

Greenhouse gases 

Carbon dioxide, methane, nitrous oxide, and hydroflocarbons. These gases all cause changes in the earth's atmosphere 

Gross emissions 

The greenhouse gases that an economy produces, ignoring carbon offset (e.g., from forestry) 

GST 

Goods And Services Tax 

GTP 

Gas Transition Plan 

GW 

Gigawatt 

GWAP

Generation Weighted Average Price

GWh 

Gigawatt Hours 

GXP 

Grid Exit Point 

Huntly 

Refers to Huntly Power Station 

HHR

Half Hour (referring to meters)

HPL 

Highly Productive Land 

HV 

High Voltage 

HVDC 

High Voltage Direct Current 

ICE 

Internal Combustion Engine 

ICP 

Installation Control Point 

ID 

Information Disclosures 

IASB 

International Accounting Standards Board 

IEA 

International Energy Agency 

IFRS 

International Financial Reporting Standards 

IM 

Input Methodologies 

IoT 

Internet Of Things 

IPP 

Individual Price Path 

IR 

Integrated Reporting 

IRA 

Inflation Reduction Act 

IRD 

Inland Revenue Department 

IRIS 

Incremental Rolling Incentives Scheme 

Kt 

Kilotonne 

KWh 

Kilowatt Hour 

Lake Onslow 

Refers to the Lake Onslow pumped hydro project 

LCOE 

Levelised Cost of Energy 

LGOIMA 

Local Government Official Information Meetings Act 

LOE 

Letter of Expectation 

LRMC 

Long Run Marginal Cost 

LV 

Low Voltage 

MAR 

Maximum Allowable Revenue 

MBIE 

Ministry For Business, Innovation, and Employment 

MD 

Material Damage 

MDAG 

Market Development Advisory Group 

MEP 

Metering Equipment Provider 

MEUG 

Major Energy Users Group 

MMD

Monthly Maximum Demand 

MOSP 

Market Operations Service Provider 

MREP 

Melbourne Renewable Energy Project 

Mt 

Mega tonne 

MV 

Medium Voltage 

MVA 

Mega Volt Ampere 

MVP 

Minimal Viable Product 

MW 

Megawatt 

MWh 

Megawatt Hours 

NEM 

National Electricity Market (Australia) 

Net emissions 

The greenhouse gases that an economy emits minus those gases taken out of the air, e.g., by new forestry planted 

NHH

Non Half Hour (referring to meters)

NPAT 

Net Profit After Tax 

NPV 

Net Present Value 

NREL 

National Renewable Energy Laboratory 

NTR 

Network Transformation Roadmap 

NZEM 

New Zealand Wholesale Electricity Market 

NZU 

New Zealand Unit 

OAG 

Office Of the Auditor General 

OCC 

Office of Conservation Campaign 

OCGT 

Open Cycle Gas Turbines 

OCI 

Other Comprehensive Income 

OECD 

Organisation For Economic Co-Operation and Development 

OFGEM 

Office Of Gas and Electricity Markets (UK) 

OPEX 

Operating Expenditure 

ORDC 

Operating Reserve Demand Curve 

PHEV 

Plug-in Hybrid Electric Vehicles 

PI 

Professional Indemnity 

PJ 

Petajoule 

PL  

Public Liability 

POC

Point of Connection

PPA 

Power Purchase Agreement 

PPE 

Property, Plant and Equipment 

PPE 

Personal Protective Equipment 

PV 

Photovoltaic(s) 

PwC 

Price Waterhouse Coopers 

RAB 

Regulated Asset Base 

Rankines/Rankine units 

A type of steam turbine currently in use at Huntly power station 

Registry

Electricity Registry

RERT 

Reliability And Emergency Reserve Trader 

RESI 

Residential 

Residual load 

The amount of electricity that cannot be met by intermittent renewable capacity (e.g., wind and solar) 

REZ 

Renewable Energy Zones 

RM

Reconciliation Manager

RMA 

Resource Management Act 

RPT 

Related-party Transactions 

RRO 

Retailer Reliability Obligation 

SAIDI 

System Average Interruption Duration Index 

SAIFI 

System Average Interruption Frequency Index 

SCADA 

Supervisory Control And Data Acquisition 

SF6 

Sulfur Hexafluoride 

SIR 

Sustained Instantaneous Reserve 

SO 

System Operator (run by Transpower) 

SOI 

Statement of Intent 

SPA 

Sale and Purchase Agreement 

SRMC 

Short Run Marginal Cost 

TCFD 

Taskforce on Climate-Related Financial Disclosures 

Tiwai Point 

Refers To Tiwai Point Aluminium Smelter 

TNSP 

TNSP is a term used in Australia that stands for Transmission Network Service Provider 

Tonne (t) CO -e2 

The unit for measuring the climate impact of the greenhouse gases and stands for tonnes of carbon dioxide equivalent. Each of the different greenhouse gases has a different impact on the atmosphere, so a weighting is given to the other gases so that we have an idea of the overall impact of greenhouse gases emitted. 

ToR 

Terms Of Reference 

TOTEX 

Total Expenditure 

TOU 

Time of Use 

TPM 

Transmission Pricing 

TSO

Transmission System Operator

TWh 

Terawatt Hours 

TX 

Transformer 

UNGI 

Underwriting New Generation Investments 

VPP 

Virtual Power Plant 

VRE 

Variable Renewable Electricity 

VT

Voltage Transformer

WACC 

Weighted Average Cost of Capital 

WEC 

World Energy Council 

YTD 

Year To Date 

ZS 

Zone Substation