Glossary
- N2EX
The N2 Exchange, a recently established GB electricity market platform, which is operated by Nasdaq OMX and Nord Pool Spot AS.
- NAO
National Audit Office
- National Balancing Point
A theoretical point within the National Transmission System (NTS) where gas is traded on the wholesale market.
- National Grid
Another name for the transmission network.
- National Grid Company
The company that owns the transmission system in England and Wales and operates the balancing mechanism for the whole of Great Britain.
- NBP
See Naational Balancing Point
- NCG
See National Grid Company
- Near Curve
Relates to the period of the forward curve running from the front month to the beginning of the front season.
- Netting Off
The process by which the grossed up output of a distributed generator is deducted from a supplier's total take within a GSP group.
- Network Service Provider
DTN operator and service provider.
- NFPA
Non-Fossil Purchasing Agency
- NHH
Non-Half Hourly – means any Metering Point, which provides measurements of supply of electricity other than on a half hourly basis.
Customers with a demand below 100kW.
Non-half hourly meters are read monthly, quarterly, six monthly, or annually.
- NISM
Notification of Inadequate System Margin
- NIV
Net Imbalance Volume
- Non-designated customer
Customers who use over 12,000 units of electricity a year with maximum demand of less than 100 kW pa. Customers will also be classed as non-designated customers, even though they use less than 12,000 units a year, if they:
- Have un-metered supply
- Have maximum demand metered
- Have half-hourly metering
- Are covered by a multi-site contract which includes some non-designated sites
- Non-fossil Fuel Obligation
The main instrument for encouraging the development of renewable generation prior to the introduction of the Renewables Obligation.
- Non-physical market participants
Participants who prefer to trade out positions ahead of delivery. Non-physical market participants usually trade for speculative purposes.
- Nord Pool
Nord Pool, the Nordic Power Exchange, a single power market for Norway, Denmark, Sweden and Finland.
- Notional Balance Point
The (notional) point at which all electricity is traded in Great Britain.
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