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The N2 Exchange, a recently established GB electricity market platform, which is operated by Nasdaq OMX and Nord Pool Spot AS.


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.


See Naational Balancing Point


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.


Non-Fossil Purchasing Agency


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.


Notification of Inadequate System Margin


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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