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Glossary

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L

LDSO

Licensed Distribution System Operator

LEBA

See  London Energy Brokers' Association

LEC

See Levy Exemption Certificate

LEG

Licence Exempt Generator

LEGA

Licence Exempt Generator Agreement

Letter of Credit (LoC)

A document issued by a financial institution, used in place in place of cash as collateral in particular where one of the counterparties have a weaker credit standing.

Levy Exemption Certificate

Issued by Defra to "good quality" CHP to enable electricity to be supplied exempt from the Climate Change Levy.

LF

See Load Factor

Line Loss Factors

As energy travels from the point of production to the end user, some of it is ‘lost’ on the system. Under the BSC arrangements there are two ways in which these losses are accounted for:
•Losses on the low voltage Distribution Networks are allocated through the use of Line Loss Factors (LLFs).
•Losses on the high voltage Transmission System are allocated across BSC Parties through the use of Transmission Loss Multipliers (TLMs).

Line Loss Factors (LLFs) are multipliers which are used to scale energy consumed or generated in order to account for losses on the UK’s Distribution Networks. There are two types of Line Loss Factor: Central Volume Allocation (CVA) LLFs and Supplier Volume Allocation (SVA) LLFs.

Information:
http://www.elexon.co.uk/reference/technical-operations/losses/

Data:
All LLF data is published on the ELEXON Portal: https://www.elexonportal.co.uk

Liquid Market

A market characterised by the ability to buy and sell with relative ease.

Liquidity

Liquidity is the ability to quickly buy or sell a product without causing a significant change in its price and without incurring significant transaction costs.

LLF

See Line Loss Factor

Load Factor

The Load Factor is the ratio of the average load to peak load. Load Factor is a measure of how variable a customer’s consumption is. A customer with a continuous demand at the same level will have a high load factor. A customer whose demand is generally very low but with large short duration peaks will have a low load factor.

Also see Maximum Demand.

LoC

Letter of Credit (LoC) - A document issued by a financial institution, used in place in place of cash as collateral in particular where one of the counterparties have a weaker credit standing.

London Energy Brokers’ Association

The London Energy Brokers' Association (LEBA) was formed in 2003 in affiliation with the Wholesale Markets Brokers' Association  to represent wholesale markets broking firms active in the Over the Counter (OTC) and exchange traded UK and liberalised European energy markets.

LEBA Market Data Service

One of LEBA’s principle activities is the collection, validation and distribution of a rapidly growing set of aggregated transaction indexes and benchmark forward curves. These currently cover gas, power, coal and carbon, and have gained rapid industry acceptance due to a consistent methodology and their verifiable underlying transactions.

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