Glossary
- IBC
Incentivised Balancing Cost
- ICE
Intercontinental Exchange
- I&C Sector
Industrial and Commercial sector. The non-domestic sector in general rather than any specific group of customers.
- IDNO
Independent Distribution Network Operator
- Imbalance
Energy imbalances are differences between the total level of demand and the total level of generation on the system within the half hour balancing period. The cash-out price aims to reflect the price of actions taken to solve energy imbalances, rather than those taken to solve system imbalances.
- Imbalance Price
Energy Imbalance Prices (or cash-out prices) - are applied to parties for their imbalances in each half-hour period. System Buy Price (SBP) is charged for short contracted positions. System Sell Price (SSP) is paid for long contracted positions.
- Incumbent
An incumbent is the company of the former monopoly supplier in a particular region. The incumbent in each region for electricity is known as the ex-PES. British Gas (Centrica) is the incumbent in the gas market.
- Initial Margin
A margin intended to cover within-day price volatility and is payable at the time the contract is entered into.
- Interconnector UK (IUK)
Natural gas pipeline linking the UK with continental Europe (Bacton in the UK with Zeebrugge in Belgium).
- Intermediary
Third party between two trading parties offering intermediation services.
- Intra-Day Market
Purchase and sale of a product within a given trading day.
- IPE
International Petroleum Exchange
- IPN
International Petroleum Exchange
- IS
Imbalance Settlement
- IWA
Initial Written Assessment
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