Glossary

A natural gas sales contract in which the seller commits to deliver a stated quantity of natural gas over a stated period of time, without limitation to or commitment of specific reserves or sources of natural gas, and generally with no production-related reservations.

A measure of real power production or usage equal to one Joule per second. The rate of energy transfer .equivalent to 1 ampere flowing under a pressure of 1 volt at unity power factor. An electric unit of power or a rate of doing work.

An electrical energy unit of measure equal to 1 watt of power supplied to, or taken from, an electric circuit steadily for 1 hour.

The weighted average unit cost of a supply of natural gas. WACOG is calculated as the total cost of all natural gas purchased during a base period divided by either the total quantity purchased. (unit of production) or the system throughput (unit of sales) during the same period.

An exploratory well drilled in unproven territory, including a horizon from which there is currently no production in the general vicinity.

The price received by the producer for sales at the well.

The temperature a sample of air would have if .cooled adiabatically to saturation at constant pressure by evaporation of water into it, all latent heat being supplied by the sample of air.

The use of the transmission facilities of one system to transmit power for another system. Wheeling can apply to either wholesale or retail service. (See Wheeling Service, Wholesale Wheeling, RTG.)

The movement of electricity from one system to another over transmission facilities of intervening systems. Wheeling service contracts can be established between two or more systems. (See Wholesale Wheeling and Regional Transmission Group.)

Liquefied natural gas which is produced from refrigeration units at a well site.

A system whereby a distributor of power would have the option to buy its power from a variety of power producers, and the power producers would be able to compete to sell their power to a variety of distribution companies.

The purchase and sale of .electricity from generators to resellers (who sell to retail customers) along with the ancillary services needed to maintain reliability and power quality at the transmission level.

Energy supplied to other electric utilities, cooperatives, municipals, Federal and State electric agencies, and power marketers for resale to ultimate consumers.

The transmission of .electric energy sold, or to be sold, at wholesale in interstate commerce (from EPAct).

The transmission of electricity from a wholesale supplier to another wholesale supplier by a third party.

A broad term which refers to charges levied on power suppliers or their customers for the use of the transmission or distribution wires.

An interest in a mineral property which .entitles an owner to share the production from the mineral property.

A standard utilized to define just and reasonable rates under the Natural Gas Act.

See RATE, ZONE.