The point in time by which all Contract Notifications and Final Physical Notifications must be submitted for each settlement period. Parties should not change their positions other than through instruction by the SO after gate closure. It is currently set at one hour before the start of the relevant settlement period.
Means the combination of Gateway Hardware and Gateway Software.
Hardware installed by the Network Service Provider at the Users site for the operation of the Data Transfer Network.
Software provided by the Network Service Provider and installed on the Gateway Hardware to provide logical linkage between each User's respective systems and the Data Transfer Network.
Gemserv Limited is the service company established by the retail UK electricity market to provide governance management skills and expertise to utility markets as a whole.
A measure of the average value of a set of numbers, sometimes viewed as a better measure of the true average than the arithmetic mean it is calculated as the nth root (where n is the number of observations) of the product of all observations.
A unit of power equal to 1 billion watts; 1 million kilowatts or 1000 megawatts.
A unit of energy equal to million kilowatt-hours. 1 GWh is equivalent to the total electricity typically used by 250 homes in one year.
A Grid Trade Master Agreement (GTMA) is a legal agreement between the two parties in a trade that sets out terms in relation to financially settling the contract and physically delivering the power.
Grid Supply Point – mean a meter connection point at which the transmission system is connected to a distribution system.
An industry standard trading agreement.