Wiki · Definitions
Energy-market glossary
Short, practical terms used on the desk: imbalance, BRP, nomination, settlement.
BRP
Balance Responsible Party: the entity financially responsible for the imbalance of a balancing group.
Source: ERE / OST · 2020-07-02
BRP · balancing
Read moreBalancing Group
A set of metering points whose schedules and actuals are netted under one BRP.
Source: ERE / OST · 2020-07-02
balancing · BRP
Read moreImbalance
The difference between a market participant's scheduled/nominated energy and its actual measured energy, subject to the applicable balancing and settlement rules.
Source: ERE / OST · 2020-07-02
imbalance · balancing · settlement
Read moreAggregator
A party that groups multiple assets or sites into one market position.
aggregation · portfolio
Read moreAggregation
Combining multiple assets or participants into a single portfolio position.
aggregation · portfolio
Read moreNomination
The hourly energy plan sent for scheduling before delivery.
Source: ERE / OST · 2020-07-02
nomination · scheduling
Read moreDay-Ahead Market
The market where hourly volumes for the next delivery day are traded before the day starts.
Source: ERE / ALPEX · 2022-12-27
day-ahead · market
Read moreIntraday Market
The market used to change the day-ahead position after it is locked, before delivery.
Source: ERE / ALPEX · 2022-12-27
intraday · market
Read moreSettlement
The financial close of market and imbalance volumes after delivery.
Source: ERE / ALPEX · 2022-12-27
settlement · imbalance
Read moreBalancing Energy
Energy activated to correct the system after nominations, used in imbalance settlement.
Source: ERE / OST · 2020-07-02
balancing · energy
Read moreMarket Participant
A licensed party that nominates, trades or settles energy on the market.
Source: Republic of Albania / ERE · 2026-06-18
participant · licensing
Read moreMetering Point
The point where energy is measured for nomination, imbalance and settlement.
Source: ERE · 2008-08-26
metering · imbalance
Read more