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Energy Glossary

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Energy Terms Glossary

You can read the terms more easily with the glossary we created for the descriptions and use areas of energy terms, as well as the calculation methods.

Measuring System

It covers all measurement equipment including meters, measurement transformers (voltage and current transformers), relevant communication equipment and cabling.

Market Operator

It refers to EXIST (Energy Exchange Istanbul).

Market Participation Agreement

It is a standard agreement that sets out the terms and conditions for the market participant’s participation in the balancing mechanism (except for the day-ahead market), and the operation of the balancing mechanism by the Market Operator (EXIST - Energy Exchange Istanbul) and the system operator (National Load Dispatch Center).

Market Participant

It covers the different categories created for license holder legal entities defined in the Electricity Market Compensation-Reconciliation Regulation.

Energy Exchange Istanbul (EXIST)

The main purpose and area of activity of EXIST is to ensure that the energy markets found in the market operating license are planned, established, developed and operated efficiently, transparently and reliably, and in a manner that will meet the needs of the energy market. It aims to become the operator of an energy market where the liquidity is in its highest thanks to the establishment of a reliable reference price without discrimination between equal parties, as well as the ever-increasing number of market participants, product diversity and trading volume, and which allows trading through market mergers.

Market Management System

Aimed at carrying out the activities for the balancing mechanism and reconciliation, this system comprises applications that run on a thin client structure, made available to the Market Operator, system operator, market participants, and legal entities that are responsible for reading the meters and hold a transmission and distribution license.

Primary Frequency Control Capacity

It is the portion of the operating backup that ensures that the turbine speed regulators are used automatically to keep the system frequency within the normal regulation range and that is selected to be enough for this process.

Retail Sales Price

It is the sales price applied to non-eligible consumers within the scope of energy supply.

Retail Sales Contract

It is a contract that is signed between the contracted supplier and consumers for a place of use for which a connection agreement is present, in compliance with the provisions of the relevant legislation. This contract sets out the terms and conditions for the activities carried out to supply and receive electrical energy and/or capacity based on the retail sales tariff or end source tariff.

Eligible Consumer

It is a natural person or a legal entity that consumes more than the amount of electrical energy determined by the Energy Market Regulatory Authority (EPDK) and that has the privilege of selecting their supplier. ( Limit for 2023 is 1000 kWh and above.)

Secondary Frequency Control Capacity

It is the portion of the operating backup that is used through a secondary control system to release the primary frequency control reserve used to control frequencies, to ensure that the frequency can return to the nominal value and to maintain the total electrical energy exchange with the neighboring grids at the scheduled level, and that is selected to be enough for this process.

System Purchase Order

It is a notification, which is sent by the system operator or the Market Operator to the market participants who participate in the day-ahead planning, for system purchases of such participants.

System Purchase Proposal Price

It is the unit price requested by the market participants who participate in the day-ahead balancing activities, for purchases from the system.

System Purchase Proposal Amount

It is the amount of production reduction or consumption increase that the market participants who participate in the day-ahead balancing activities propose to make in the relevant balancing unit.

System Imbalance Price

It is the price applied to the energy imbalance resulting from balance liabilities of the market participants determined based on the reconciliation period.