C |
| |
Conveyancing agreements |
| A conveyancing agreement is where a network company contracts directly with a customer for the use of its local network to deliver electricity to that customer. The network company invoices the customer directly for network services. Conveyancing agreements usually involve only large customers. See also Use of Systems Agreements. |
| |
CT |
| A CT is a current transformer. This measures an exact proportion of energy going into a site. As a proportion is measured, a multiplier must be used to convert the meter reading to a total volume. Where a site draws a load current in excess of say 80 amps, it is not possible to pass the entire load through a meter. CTs are used to measure a proportion of the current drawn by a site. |
| |
D |
| |
Data logger |
| The part of the ToU meter that records usage in half-hourly intervals. |
| |
Direct Connected |
| Meter where the current drawn into a site is passed directly through the meter. |
| |
G |
| |
Gigawatt (GW) |
| A unit of power equal to 1 billion Watts; 1 million kilowatts, or 1,000 megawatts. |
| |
Gigawatt Hour (GWh) |
| A unit or measure of electricity supply or consumption of 1 million kilowatts over the period of one hour. |
| |
GIP |
| Grid injection point. Direct connection between the national grid and a generator, where energy flows into a grid. |
| |
GXP |
| A GXP or Grid Exit Point is the point when line ownership changes from Transpower to a Network Company or a direct supply customer. Pricing for Corporate customers is usually done at GXP so that prices can be compared without the effect of local losses. |
| |
I |
| |
ICP Number |
| Your ICP number (or installation control point number) is a unique number given to the contestable connection point between your site and the network company's line. |
| |
ISDA Contract |
| An ISDA contract is a standard contract produced by the International Swap Dealers Association which we use where we supply customers energy on a contract for difference basis. |
| |
K |
| |
Kilowatt (kW) |
| A standard unit of electrical power equal to one thousand watts, or to the energy consumption at a rate of 1000 Joules per second. |
| |
Kilowatt-hour (kWh) |
| A unit or measure of electricity supply or consumption of 1,000 Watts over the period of one hour; equivalent to 3,412 Btu. This is the basic unit for charging of electricity. |
| |
L |
| |
Lagging power factor |
| This is quite a technical issue so please contact us for a more detailed explanation on 0800 469 496. |
| |
Leading power factor |
| This is quite a technical issue so please contact us for a more detailed explanation on 0800 496 496. |
| |
Load Profile |
| The Load Profile is 12 months of half hourly electricity usage. |
| |
Local Losses / Loss Factor |
| Energy is lost when it is transported over the lines system due to factors such as resistance and the size of the cable. These losses are an inevitable part of electricity distribution, and every network company applies a "loss factor" to their network charges (a percentage multiplier) to account for them. The same loss factor for a given site is applied to every electricity retailer. |
| |
M |
| |
Meter |
| Refer to Types of Metering. |
| |
N |
| |
National Grid |
| The national grid is essentially the system of high voltage power lines that connects to the power stations to send electricity around the country. |
| |
Network Charges |
| These are the charges made by the Network Company for transporting energy from the GXP to the customer site. |
| |
Network Company |
| Network companies (also called Distribution or Lines companies), own the low-voltage power lines and networks in local areas that connect to the national grid to deliver power to business and residential users. |
| |
NZEM |
| The New Zealand Electricity market. Refers to rules, which, along with MARIA rules, provide systems to track and measure the quantity of electricity sold, identify the buyer and seller, and match all of this information with the correct contract. |
| |
P |
| |
Potential Fuses |
| Fuses used in a metering system to protect the system from short circuits or overloads. |
| |
Power Factor |
| This is a measure of how effectively electricity is being used by your site. The power factor of a site can be used to help analyse its overall energy efficiency and is shown in the standard reports available to Meridian Energy customers. |
| |
R |
| |
Reconciliation |
| Under the terms of MARIA, each retailer aggregates customer metering data (adjusted for local losses). The aggregated data is then passed on to the National Reconcilitation Manager, and is reconciled with metering information from Generators and the Grid Operator. Reconciled quantities are then passed on to the Clearing Manager to calculate the amounts owed and to whom. |
| |
Ripple relay |
| A ripple relay is an electrical switch that is remotely controlled by the injection of a coded signal into the electrical network. Ripple relays are used to remotely switch load off and on - for example, your domestic electricity account may allow the network company to swtich your water heating on and off at set times. This may be done through a ripple relay. |
| |
S |
| |
Spot Market |
| The popular name for the New Zealand Electricity Market, where electricity is bought and sold in half-hourly intervals. |
| |
Static Meter |
| A meter where the energy measured is recorded on a cumulative register (as opposed to a Time of Use meter, where the energy is recorded and the meter zeroed every half hour). For example, the meter at your house is a static meter. |
| |
T |
| |
Test Block |
| Connection block used in metering systems that allows measuring devices to be replaced without disturbing measuring elements (CTs, VTs and potential fuses.) |
| |
Time of Use Meter |
| A meter that records energy in half-hourly intervals (the intervals in which it is bought and sold in the wholesale market). |
| |
U |
| |
Use of Systems Agreement |
| Use of systems agreements are contracts between electricity retailers and network companies for the use of local networks to deliver electricity to customers. The retailer on-invoices network charges to the customer, based on load information collected from meters at customer sites. See also Conveyancing Agreements. |
| |
V |
| |
VT - Voltage transformer |
| A device that measures very accurately a proportion of the voltage on a conductor. Where a voltage in excess of say 400 volts is supplied to a site, it is not possible to pass all of the voltage to a meter. VTs are used to measure a proportion of the voltage supplied. |
| |