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When attempting to register a new customer with a registration notice to takeover supply, the current supplier objects to Electricity Directs request for transfer.


On the day commodity market. This market enables anonymously financially cleared on the day trading between market participants.


Period of relatively low system demand. These periods often occur in daily, weekly, and seasonal patterns; these off-peak periods differ for each individual electric utility.


Office of Gas and Electricity Markets


Refers to the consumption of electricity produced by a generator on, or immediately adjacent to the physical site occupied by the generator without use of either a private network or the DNOs network.


A contract that gives the purchaser the right, but not the obligation, to buy or sell the underlying commodity at a certain price (the exercise, or strike price) on or before an agreed date.

Over-the-counter (OTC)

An over-the-counter deal is a customised derivative contract usually arranged with an intermediary such as a major bank or the trading wing of an energy major, as opposed to a standardised derivative contract traded on an exchange. Swaps are the commonest form of OTC instruments.

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