Glossary

AMP
Asset management plan, which is developed by water utilities in the United Kingdom every five years and approved by Ofwat. 

Annual long-term average production
An average production figure based on the actual electricity production of a facility since the start of full operations.

Availability
Availability is the number of hours that a generating unit is able to provide service at full output, whether or not it is actually in service, as a percentage of total hours in the period.

Base load facility
A base load facility produces electricity at an essentially constant rate and runs continuously.

Capacity
Capacity is the net amount of electricity generated by a generating unit as a percentage of the total possible generation over the period.

Cogeneration
Cogeneration refers to the simultaneous production of electricity and thermal energy in the form of heat or steam from a single fuel source, a process that results in high efficiency and an effective use of energy.

Consumer Price Index (CPI)
The CPI is an indicator of inflation that measures the change in the cost of a fixed basket of products and services, including housing, electricity, food and transportation.

Curtailment
A period during which a facility continues to operate but at less than capacity.

Direct Customer Rate (DCR)
The Direct Customer Rate, which is set by the Ontario Electricity Financial Corporation, is calculated based on a three-year average of the total market cost of electricity to industrial customers.

Gigajoule (GJ)
One GJ is equivalent to the amount of energy available from 26.1 m3 of natural gas.

Gigawatt hour (GWh)
A unit of electrical energy equal to 1,000 megawatt hours.

Green metric tonne (GMT)
A unit of weight equal to 1,000 kilograms.

Hydrology
The effect of precipitation and evaporation upon the occurrence and distribution of water in streams, lakes and on or below the land surface.

K Factor
The regulated annual rate by which each licenced water company can increase its charges annually on top of inflation.

Kilowatt (kW)
This commercial unit of electrical power refers to 1,000 watts of electrical power. This is the total amount of power needed to light 10 light bulbs of 100 watts each.

KLbs
Thousands of pounds of steam.

Megawatt (MW)
A megawatt is 1,000 kilowatts.

Megawatt hour (MWh)
This is a measure of energy production or consumption equal to one million watts produced or consumed in one hour (total amount of power required to light 10,000 100-watt light bulbs).

ML/d
Millions of litres of water per day. 

MMBtu
A unit of heat equal to one million British thermal units. A British thermal unit is the quantity of energy necessary to raise the temperature of one pound of water by one degree Fahrenheit.

Ofwat
The UK Water Services Regulation Authority.

Outage
A period of time when a power generation facility does not produce any electricity.

Payout ratio
Payout ratio refers to the percentage of cash flow paid out in dividends to holders of common shares.

Peaking facility
A peaking  power facility is reserved for operation during the hours of highest daily, weekly or seasonal loads.

Power Purchase Agreement (PPA)
A PPA is an agreement to purchase electricity at a specified rate for a defined period of time.

RCV
The regulated capital value, or capital base, that is used by Ofwat to set the prices a water utility may charge its customers in each asset management plan period. 

SIM
Service Incentive Mechanism, a new incentive mechanism introduced by Ofwat to reward or penalize water companies' service performance.

Solar photovoltaic (PV) power
The generation of electricity directly from sunlight.

Total return
The total return on an investment includes income from dividends, as well as share price appreciation or depreciation, over a given time period.

Watt
A watt is the scientific unit of electric power.

Yield
Yield refers to the amount of dividends paid per share over the course of a year divided by the trading price of the common shares.