It is normally used either when a power station has excess electricity, which it wishes to "sell back" to the power grid, or when the electricity company wishes to buy surplus power to meet a surge in demand, or reduction in supply.
Although electricity is a non-tangible asset, these agreements are used in order to trade guarantees to provide power for a certain length of time.
The BBL Pipeline (Balgzand Bacton Line, BBL) is a natural gas interconnector between the Netherlands and the United Kingdom.British Energy Efficiency Federation
The British Energy Efficiency Federation (or BEEF) was founded in 1996 by the United Kingdom Government to provide a forum for consultation between existing industry associations in the energy sector.Coal Authority
The Coal Authority is a non-departmental public body of the United Kingdom government.Electricity North West
Electricity North West is a British electricity distribution network operator, responsible for the administration and maintenance of the network, that distributes electricity to the North West of England excluding Merseyside and parts of Cheshire.Energy Institute
The Energy Institute (EI) is a UK chartered professional membership body.Energy Retail Association
The Energy Retail Association (ERA) was a trade association which promoted the interests of electricity and gas retailers in the domestic market in Great Britain, formed in 2003. In April 2012 it merged with the Association of Electricity Producers and the UK Business Council for Sustainable Energy to become Energy UK.Franco-British Nuclear Forum
The first meeting of the Franco–British Nuclear Forum was held in Paris in November 2007, chaired by the Minister for Energy and the French Industry Minister. The working groups are focusing on specific areas for collaboration. A follow-up meeting on the issue in London was planned for March 2008, but did not take place.Hardy Oil and Gas
Hardy Oil and Gas plc is a leading British-based oil and gas exploration and production business. It is headquartered in Aberdeen and is a former constituent of the FTSE 250 Index.Murco Petroleum
Murco Petroleum Limited is a United Kingdom based oil refining company. It was set up by Murphy Oil Corporation in 1960. The company owns a forecourt based chain of Costcutter convenience stores. In 1981, Murco purchased a 30% stake in Amoco's Milford Haven Refinery, and in 2007, they purchased the remaining 70%.In November 2014, it was announced that Milford Haven Refinery was to close, with the loss of around 350 jobs. In October 2008, they purchased Petrol Express Limited for £52 million from its parent company GNE Group, and the 63 sites brought Murco's total number of petrol stations to 230.New Electricity Trading Arrangements
New Electricity Trading Arrangements (NETA) is the system of market trading arrangements under which electricity is traded in the United Kingdom's wholesale electricity market as of 27 March 2001. The arrangements provided that parties could trade off their imbalances close to real time.Opus Energy
Opus Energy Limited supplies gas and electricity to businesses across the United Kingdom. It purchases electricity from wind, solar, hydro, and anaerobic digestion generators, and provides support to develop energy-generating sites. It is headquartered in Northampton, United Kingdom with an additional office in Oxford.Regal Petroleum
Regal Petroleum plc is a petroleum company based in London with assets in Romania, Ukraine, Greece, and Egypt. It was founded by Frank Timiş in November 1996, and is listed on the London Alternative Investment Market.Sunbury Research Centre
The Sunbury Research Centre -- also known as ICBT Sunbury -- is a main research institute of BP in north-east Surrey.UK Power Networks
UK Power Networks is a distribution network operator for electricity covering South East England, the East of England and London. It manages three licensed distribution networks (Eastern Power Networks PLC, South Eastern Power Networks PLC and London Power Networks PLC) which together cover an area of 30000 square kilometres and approximately eight million customers.
In 2014 UK Power Networks was awarded £25 million from the electricity regulator Ofgem's Low Carbon Networks Fund for the Low Carbon London project. In 2011 it was awarded £6.7 million by Ofgem for another project, Flexible Plug and Play, which is researching new ways, technical and commercial, to connect renewable energy to the distribution network in Cambridgeshire.
As well as the three distribution arms UK Power Networks also operates UK Power Networks Services Holdings Limited, which develops and maintains electrical networks for clients including London Underground, Heathrow and Stansted airports, Docklands Light Railway and Canary Wharf.Wales
Wales (Welsh: Cymru [ˈkəmri] (listen)) is a country that is part of the United Kingdom. It is bordered by England to the east, the Irish Sea to the north and west, and the Bristol Channel to the south. It had a population in 2011 of 3,063,456 and has a total area of 20,779 km2 (8,023 sq mi). Wales has over 1,680 miles (2,700 km) of coastline and is largely mountainous with its higher peaks in the north and central areas, including Snowdon (Yr Wyddfa), its highest summit. The country lies within the north temperate zone and has a changeable, maritime climate.
Welsh national identity emerged among the Britons after the Roman withdrawal from Britain in the 5th century, and Wales is regarded as one of the modern Celtic nations. Llywelyn ap Gruffudd's death in 1282 marked the completion of Edward I of England's conquest of Wales, though Owain Glyndŵr briefly restored independence to Wales in the early 15th century. The whole of Wales was annexed by England and incorporated within the English legal system under the Laws in Wales Acts 1535 and 1542. Distinctive Welsh politics developed in the 19th century. Welsh liberalism, exemplified in the early 20th century by Lloyd George, was displaced by the growth of socialism and the Labour Party. Welsh national feeling grew over the century; Plaid Cymru was formed in 1925 and the Welsh Language Society in 1962. Established under the Government of Wales Act 1998, the National Assembly for Wales holds responsibility for a range of devolved policy matters.
At the dawn of the Industrial Revolution, development of the mining and metallurgical industries transformed the country from an agricultural society into an industrial nation; the South Wales Coalfield's exploitation caused a rapid expansion of Wales' population. Two-thirds of the population live in South Wales, including Cardiff, Swansea, Newport and the nearby valleys. Now that the country's traditional extractive and heavy industries have gone or are in decline, Wales' economy depends on the public sector, light and service industries and tourism.
Although Wales closely shares its political and social history with the rest of Great Britain, and a majority of the population in most areas speaks English as a first language, the country has retained a distinct cultural identity and is officially bilingual. Over 560,000 Welsh language speakers live in Wales, and the language is spoken by a majority of the population in parts of the north and west. From the late 19th century onwards, Wales acquired its popular image as the "land of song", in part due to the eisteddfod tradition. At many international sporting events, such as the FIFA World Cup, Rugby World Cup and the Commonwealth Games, Wales has its own national teams, though at the Olympic Games, Welsh athletes compete as part of a Great Britain team. Rugby union is seen as a symbol of Welsh identity and an expression of national consciousness.Western Power Distribution
Western Power Distribution is the trading identity of four electricity distribution companies - WPD South West (operating in South West England), WPD South Wales (operating in South Wales) and WPD Midlands (operating in East Midlands and West Midlands). All of the companies act as the distribution network operator for their respective regions, and are registered in Bristol, England. Western Power Distribution serves approximately 7.7 million customers over its combined distribution areas.
Western Power Distribution is a subsidiary of the American utility corporation PPL.
It should not be confused with WPD, a wind farm company in north-western Europe, or Western Power Corporation, an electricity distributor in Australia.