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Upstream Natural Gas > Glossary 1 > Flashcards

Glossary 1 Flashcards

1
Q

BALANCING

A

Reconciling an LDC’s delivery of gas into a pipeline with withdrawals out of a pipeline system. Balancing may be required daily, monthly or seasonally with penalties assessed for excessive transportation imbalances.

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2
Q

BASIS DIFFERENTIAL

A

The difference in the market value of natural gas at two separate physical locations at the same point in time.Used as a proxy for the market value of pipeline transportation between those two locations at that time.

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3
Q

BTU

A

British Thermal Unit. The quantity of heat required to raise one pound of water, one degree Fahrenheit.

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4
Q

CAPACITY ASSIGNMENT

A

The process by which an entity that holds the rights and obligations to interstate pipeline capacity transfersthose rights and obligations to another entity.

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5
Q

CCF

A

100 cubic feet.

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6
Q

CGA

A

Cost of Gas Adjustment. The mechanism by which a utility periodically adjusts its prices in order to compensate for changes in thegas acquisition costs.

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7
Q

CITY GATE

A

Physical location where gas is delivered by an interstate pipeline to a local distribution company.

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8
Q

COGENERATION

A

The sequential production of electricity and useful thermal energy from the same energy source.

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9
Q

CUBIC FEET

A

The most common unit of measure of gas volume. One cubic foot roughly equals 1,000 Btu’s.

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10
Q

CURTAILMENT

A

Reduction of gas deliveries because of a shortage of supply or because demand for service exceeds a pipeline’scapacity.

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11
Q

DEKA THERM

A

10 therms of 1 million Btu’s. Very roughly = 1 MMBtu.

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12
Q

DISTRIBUTION

A

Local pipeline delivery of natural gas.

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13
Q

DUAL-FUEL

A

The ability of a facility or piece of equipment to use more than one kind of fuel, usually gas or oil.

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14
Q

FERC

A

Federal Energy Regulatory Commission.

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15
Q

FIRM SERVICE

A

The highest quality sales or service offered to customers; anticipates no planned interruption.

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16
Q

FUEL LOSS

A

A percentage of gas received by a pipeline or LDC that is retained to compensate for lost and unaccounted for gas.

17
Q

INTERRUPTIBLE SERVICE

A

Gas service, which is subject to interruption at the option of the pipeline or LDC. Tariffsfor interruptible service are cheaper than firm.

18
Q

INTERSTATE PIPELINE

A

A federally regulated company engaged in the business of transporting natural gas across state lines fromproducing regions to end use markets.

19
Q

LDC

A

Local Distribution Company (i.e. the utility)

20
Q

LNG

A

Liquefied Natural Gas. Natural gas converted to a liquid state, usually for storage purposes, by pressure and severe cooling.

21
Q

LOAD FACTOR

A

The ratio of the average amount of gas a customer takes to the peak amount of gas a customer takes ina given period.

22
Q

MCF

A

1,000 cubic feet.

23
Q

NYMEX

A

New York Mercantile Exchangeother energy futures are traded.

24
Q

OFF-PEAK

A

Period of year when minimum demand for fuel occurs (typically April through October). Generally, costsare lower during this period.

25
Q

ON-PEAK

A

Period of year when maximum demand for fuel occurs (typically November through March). Generally, costs are higherduring this period.

26
Q

PIPELINE CAPACITY

A

A service provided by a pipeline for a fixed monthly reservation charge which gives a transporter the right tomove up to a maximum daily quantity of gas between defined points on the pipeline’s system.

27
Q

RATE CLASS

A

Type of billing classification or category.

28
Q

SPOT GAS

A

Interruptible or best efforts gas for specified volumes on a limited (usually monthly) basis.

29
Q

TARIFF

A

Compilation of all of the effective rate schedules for a company, along with general terms and conditions.

30
Q

THERM

A

Unit of measure of heat content, equivalent to 100,000 Btu’s.

31
Q

TRANSPORTATION GAS

A

Third party owned gas delivered on the interstate pipeline system to a LDC on behalf of a customer.

32
Q

WACOG

A

Weighted Average Cost of Gas.

Upstream Natural Gas (3 decks)

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