a general term for markets that facilitate the provision of specialty services and functions beyond generation and transmission. These services generally maintain grid stability (e.g.

Image courtesy: Delft University of Technology the acquisition of a specified quantity of generating capacity from another utility for a specified period of time. Measured in megawatts (MW).

“Earth” by Yuri Samoilov is licensed under CC BY 2.0 a financial market that lets market participants commit to purchasing or selling wholesale electricity one day before the operating

Image licensed under CC0 1.0 A percentage value that can either increase or decrease a contracted value over time or for a given market condition. Pros

“Integration in English” by Andrew c is licensed under CC BY-SA 3.0 the process of a company increasing production of goods or services at the same level of the supply chain. A company

Image licensed under CC0 1.0 a metric used in capital budgeting to estimate the profitability of potential investments. Generally speaking, the higher a project’s internal rate of return, the

“Diesel generator” by Guangjian Duan is licensed under CC BY 2.0 additional generation capacity above the expected load scheduled which can be available within 10 minutes to protect

Image licensed under CC0 1.0 used in capital budgeting and investment planning to analyze the profitability of an investment or project. It is assumed that an

“As solar firmengebaude” by ChristofferRiemer is licensed under CC BY 3.0 a financing mechanism in which energy efficiency and renewable energy improvements on private residential (R-PACE) and commercial

Image licensed under CC0 1.0 a legal contract between an electricity generator (provider) and purchaser (buyer, typically a commercial or industrial business, government entity, utility, or other large power buyer/trader). Pros