(US) Entity, regulated by the Federal Energy Regulatory Commission (FERC), that is responsible for ensuring the efficient use and reliable operation of the transmission grid and, in some cases, generation facilities. Individual ISOs cover either a single state (for example, the California ISO) or a region (for example, the Midwest ISO). ISO responsibilities vary by jurisdiction, but can include co-ordinating scheduling for transmission transactions; overseeing the instantaneous balancing of generation and load; managing and redispatching generation in system emergencies; managing operating reserves; ensuring new transmission facilities are built when and where needed; and co-ordinating transmission payments. In some cases, ISOs are also responsible for managing power exchange activities.
The Energy Risk Glossary, now in its eighth edition, provides an at-a-glance explanation of the myriad specialised terms and acronyms used in energy trading and risk management.
This year, the guide has been updated by Aviv Handler of ETR Advisory. Energy Risk would like to thank him for his input into this edition, which benefits greatly from his valuable experience and insight into energy markets.
The fast-changing nature of these markets means much has changed since our last edition – almost 200 new entries and revisions have been made this year. Reflecting the increasing importance of regulation, definitions of the Markets in Financial Instruments Directive (MiFid) and the Ljubljana-based Agency for the Cooperation of Energy Regulators (Acer) make it into the glossary for the first time. A focus on improving back-office infrastructure and mitigating counterparty risk is also apparent from the inclusion of terms such as ‘portfolio reconciliation’ and ‘portfolio compression’.
The glossary is extensively cross-referenced, making for easy and thorough searches. We hope you find it useful.
Sign up for Risk.net email alerts
UK, 29th - 30th May 2014
UK, 12th - 13th Jun 2014
UK, 10th - 11th Sep 2014
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.