To ensure that the system does not attain its maximum production capacity, it is necessary to conduct demand management vis-?-vis electricity consumers to both decrease demand for electricity and to move demand from peak to offpeak times
Cluster of hours during which the electricity tariff is the same rate, as determined by the electricity regulator
In the summer of 2008, inadequate natural gas production capacity and strong demand created a large deficit that quickly exhausted inventories. The lack of an inventory buffer necessitated sharply higher prices to bring the demand down in line with supply to keep the market in balance (demand destruction). Due to the financial crisis which started towards the end of 2008, demand (for oil and gas) has fallen far below supply, such that large surpluses are beginning to breach global storage capacity, requiring production shut-ins motivated by sharp declines in spot prices (supply destruction). Storage is the mechanism that creates the link between spot and forward prices. As storage capacity is exhausted, spot prices are disconnected from forward prices. Global working oil storage capacity is less than 10 days of demand, so less than 10 days of use separates demand from supply destruction. In 1980 that number was more than 28 days, which suppressed volatility to a fraction of the level at the beginning of 2009
Deposit formed by a flowing sediment-laden current as it enters an open or standing body of water, such as a river spilling into a gulf. As a river enters a body of water, its velocity drops and its ability to carry sediment diminishes, leading to deposition. The shape of deltas can be similar to the Greek letter delta. The three main classes of deltas are river-dominated (Mississippi River), wave-dominated (Nile River), and tide-dominated (Ganges River). Ancient deltas contain some of the largest and most productive petroleum systems.
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As part of the reform of IEC, a subsidiary of IEC will be set up that will deal with the delivery system to include transmission, transformation and switching
Point where the gas is delivered by the seller to the buyer. Important to ascertain these points as any expenses beyond delivery point are to be paid by the buyer. For instance, the Delivery Point shall be the outlet flange of the Terminal at the point where the Terminal connects to the INGL system
Pipeline used to deliver the energy
