1) The minimum expected customer power requirements at a given time. Baseload power is generally supplied from plants, which cannot be ramped up and down as quickly as peaking generation plants. As baseload demand is generally predictable and steady, it is less expensive than peak power. Power is often traded as baseload to denote a constant quantity of power over a period such as a day.
2) Baseload futures contracts specify constant power for 24 hours every day (24/7).
* see also peak load