Degree days are used in energy analysis as an

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degree days are used in energy analysis as an indicator of air conditioning energy requirements or use. CFTC Commodity Futures trading Commission CIF Cost, Insurance and Freight. shipping Incoterm refers to cargos for which the seller pays for the transporta- tion and insurance up to the port of destination. City-Gate Physical location where gas is delivered by a pipeline to a local distribution company. Clearing the process of matching trades, settling trades and provision of a guarantee for traded contracts. often a service performed by exchanges. Clearing Fee a fee charged by a clearing house for clearing trades. Close Out Finalizing a transaction by making an equal and oppo- site trade to an open position. CME Chicago Mercantile Exchange CNG Highly compressed natural gas, commonly used as an automotive fuel.
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- 3 - Cogeneration Delta Cogeneration the production of both electricity and useful thermal energy from the same energy source. natural gas tends to be a favored fuel for combined-cycle cogen- eration units, in which waste heat is converted to elec- tricity. Combination Hedging a risk management strategy that uses a combination of hedges using different derivative instruments. Combined Cycle the combination of one or more gas turbine and steam turbines in an electric generation plant. an elec- tric generating technology in which electricity is pro- duced from otherwise lost waste heat exiting from one or more gas (combustion) turbines. the heat is routed to a conventional boiler or to a heat recovery steam generator for use by a steam turbine in the production of electricity. this process increases the efficiency of the electric generating unit. Condensate Very high aPI crude oil, which in its natural state is in gaseous form, but condenses to liquid upon production. Congestion a condition that occurs when insufficient transfer capacity is available to implement all of the preferred schedules for electricity transmission simultaneously. Contango Market situation where prices are higher for forward delivery dates than for nearer delivery dates. (oppo- site of backwardation). Conway Conway, kansas. the main propane trading hub in the Midwest United states. Cracking refining process to break large molecules into smaller ones. Crack Spread the spread differential which represents refining margins. Credit Risk Credit risk is the risk of loss to a company due to non- payment of a bill or a loan, or to a nonperformance of a contract. When a company provides a service or goods and expects payment later, the company assumes the credit risk of the counterparty not paying. Cushing Cushing, oklahoma. the delivery point for nyMEX WtI crude oil futures. D Day-Ahead Market Forward markets where electricity quantities and market clearing prices are calculated individually for each hour of the day on the basis of participant bids for energy sales and purchases.
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