Energy is a complex category, what can make it even more complex in Australia is the use of acronyms and highly technical language.
It’s our aim to break down this complexity. If you understand the category better you can make more educated and informed decisions when you purchase Energy in Australia.
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
B
BB: National Gas Market Bulletin Board (NGMBB)
C
CAM: Cost Allocation Method
CAPEX: Capital Expenditure
CAPM: Capital Asset Pricing Model
CBA: Cost–Benefit Assessment
CCA: Competition and Consumer Act 2010
CCG: Consumer Consultative Group
CCGT: Combined Cycle Gas Turbine
CCP: Consumer Challenge Panel
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
CRG: Consumer Reference Group
CRNP: Cost Reflective Network Pricing
CSG: Coal Seam Gas
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
E
EAG: Energy Action Group
EBSS: Efficiency Benefit Sharing Scheme
EDPR: Electricity Distribution Price Review
ENA: Energy Networks Australia
ENM: Embedded Network Manager
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
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
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
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
IRG: Investor Reference Group
IRPC: Inter Regional Planning Committee
K
kV: Kilovolt
kW: Kilowatt
kWh: Kilowatt hour
L
LNG: Liquefied Natural Gas
LNSP: Local Network Service Provider
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
N
National Electricity Law: National Electricity Law (NEL)
National Electricity Rules: National Electricity Rules (NER)
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 – (States and territories that operate under the NERL include New South Wales, South Australia, Tasmania, Queensland and the Australian Capital Territory).
NERR: National Energy Retail Rules
NET: National Electricity Tribunal
NGF: National Generator Forum
NGL: National Gas Law
NGMBB: National Gas Market Bulletin Board
NGR: National Gas Rules
NSP: Network Service Provider
NTP: National Transmission Planner
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
P
PASA: Projected Assessment of System Adequacy
PJ: Petajoule
Q
Q: Quarter
QCA: Queensland Competition Authority
QNI: Queensland to New South Wales Interconnector
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-D: Regulatory Investment Test for Distribution
RIT-T: Regulatory Investment Test for Transmission
RoLR: Retailer of Last Resort
RRG: Retailer Reference Group
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
SRP: Statement of regulatory principles
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
TSS: Tariff Structure Statement – the methodology for designing and charging network tariffs
TUOS: Transmission Use of System
TW: Terawatt
TWh: Terawatt hour – where Tera is an SI prefix and represents a multiplier of 1×10 to the power of 12
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
W
WACC: Weighted Average Cost of Capital
WEPI: Wholesale Electricity Price Index
Glossary Original Source Australian Energy Regulator
