Base Residual Auction (BRA)
An auction held regularly by PJM to secure future electricity capacity (usually 3 years out) to ensure enough power will be available to meet demand.

Bearish
When prices are anticipated to go down.

Billion Cubic Feet (Bcf)
A unit of measurement for natural gas. One Bcf equals 1 billion cubic feet of natural gas.

Bullish
When prices are anticipated to go up.

Capacity
How much electricity a power plant can make at one time when it’s running at full strength.

Capacity Rates
Charges that reflect the cost of maintaining enough electricity supply to meet peak demand. These rates help ensure that power is available when customers need it most, especially during high-usage periods.

Climate Prediction Center (CPC)
A division of the U.S. National Weather Service that provides forecasts and data on climate trends, including seasonal outlooks and long-term weather patterns that can affect energy usage.

Cooling Degree Days (CCDs)
A measure of how much the average daily temperature is above a specific base temperature, typically 65°F, indicating the potential need for air conditioning.

Department of Energy (DOE)
The government group that deals with energy and power in the U.S.

Energy Information Administration (EIA)
A federal agency within the U.S. Department of Energy (DOE) responsible for collecting, analyzing, and disseminating independent and impartial energy information.

ENSO-Neutral
A climate state in which neither El Niño nor La Niña conditions are present in the tropical Pacific Ocean. In this phase, sea surface temperatures, atmospheric pressure patterns, and trade winds in the region are close to their long-term average values and, as a result, global weather patterns tend to be more stable or typical compared to the shifts that occur during El Niño or La Niña events.

Federal Energy Regulatory Commission (FERC)
A U.S. government agency that regulates electricity, natural gas, and oil markets, especially interstate transmission.

Flexible Load Model
A model in which certain electricity-consuming devices, systems, and processes can shift, reduce, or increase power usage in time or intensity to help balance supply and demand on the grid.

Gigawatts (GW)
A unit of power equal to one billion watts. Gigawatts are commonly used to describe the capacity of large power plants or the total electricity demand of a region.

Heating Degree Days (HDDs)
A measure of how much the average daily temperature is below a specific base temperature, typically 65°F, indicating the potential need for heating.

Henry Hub
A major natural gas pipeline hub located in Erath, Louisiana, serving as the delivery point for NYMEX natural gas futures contracts.

Intermittent Renewables
Energy sources like solar and wind that don’t produce power continuously, as they depend on time of day and weather conditions.

Inverter-Based Resources (IBRs)
Power sources, like solar or wind, that use special equipment to send energy to the grid.

La Niña
A climate pattern characterized by cooler-than-average sea surface temperatures in the central Pacific Ocean. La Niña can influence global weather, often bringing colder winters to parts of North America and affecting energy demand.

Liquefied Natural Gas (LNG)
A natural gas that’s been cooled into a liquid so it’s easier to ship and store.

Locational Marginal Pricing (LMP)
Represents the price of electricity at a specific location, based on supply, demand, and transmission constraints at that point on the grid.

Megawatt-hour (MWh)
A unit of energy equal to 1 million watts used for one hour. It’s commonly used to measure electricity usage or production.

NYMEX
A major marketplace where people trade energy products like oil and gas to set future prices.

PJM Interconnection
A large power grid that manages electricity in parts of the eastern U.S.

PUCO (Public Utilities Commission of Ohio)
The state agency that regulates utility services in Ohio, including electricity, natural gas, water, and telecommunications. PUCO ensures that customers receive safe and reliable service at fair prices.

Regional Transmission Organization (RTO)
An independent group that coordinates the movement of electricity over large areas to ensure reliability and efficiency.

Renewable Generation
Electricity produced from sources that naturally replenish, such as solar, wind, hydro (water), and geothermal energy. 

Storage Injections
When natural gas is put into storage to save for later use.

Transmission Costs
The expenses associated with moving electricity from power plants to local distribution networks over high-voltage transmission lines.

Trillion Cubic Feet (Tcf)
A unit of measurement used to describe large volumes of natural gas. One Tcf equals one trillion (1,000,000,000,000) cubic feet of gas — enough to supply millions of homes for a year.