普氏能源行业术语表

Glossary（术语表）The Platts industry glossary is continuously updated. Please email to let us know if there is an entry you would like us to add, clarify or expand, or if you think we have made a mistake in any of our definitions. The glossary covers common terms and abbreviations from the oil, power, petrochemicals, nuclear, gas, coal and metals markets and industriesA-B-C-D-E-F- G-H-I-J-K-L- M-N-O-P-Q-R- S-T-U-V-W-X- Y-Z15-Day BrentAAAUsA/FAbandonAccumulationAcetoneAcrylonitrileAcrylonitrile-butadiene-styrene (ABS)AfforestationAGAGOAlkylateAlternating current (AC)Alternating current distributionAmerican style optionAmpere (amp)Ancillary servicesAndrews PitchforkAniline pointAnnex I PartiesAnnex II PartiesanodeANSanthraciteAPIAPI gravityAPTARAArab GulfAramcoarbitragearomaticsasphasphaltassayassessmentassociated gasat-the-moneyAUDavailability factoravailable but not needed capacityavailsaverage cost pricingavgasavoided costBB/LBackwardationBalancingBargeBarrelBase gasBase loadBase load capacityBase load plantBase metalBBQBcfBearishBenzeneBidBid priceBill of ladingBio-leachingBiomass conversionBituminous coalBlack startBlackoutBlendstockBlister copperBlowmoldingBollinger bandsBPABreakoutBrent blendBritish thermal unit (btu)BrownoutBS&WBtuBTXBTX extractionBullishBunker CBurner-tipBurnupBusbarBusbar costButadieneCC+FC4sCall optionCandlesticksCapacitorCapacityCapacity (purchased)Capacity chargeCapacity marginCapacity releaseCapacity relinquishmentCap-and-tradeCaribsCash and carryCash marketCash settlementCat crackerCat gasolineCatfeedCathodeCaustic SodaCDMCERsCentistokeCertified Emission ReductionsCetaneCetane numberCFDCFPPChannelChemical gradeChina main portCIFCircuitCity-gateClean Development MechanismClearingClearing feeClose outCloud pointCMECMPCNGCNRCOACOPCofiringCogenerationCombined cycleCombined heat and power plantCommodity Channel IndexCompressed natural gasCompressor stationConcentratesCondensateConductorConference of PartiesCongestionConnectionConsolidationContangoConti IndexContractContract for differencesContract priceCoolantCPCrack spreadCrackedCracked fuelCrackingCrude C4Cubic feet per secondcurrenciesCTO/MTOcurrentcurtailable ratecushion gascustom smeltercyclescyclingDDAP/DATdated Brentdecay productdeclining block ratedegree daydehydro-genationdekathermdeliverabilitydelta hedgingdelta neutraldemanddemand side management (dsm)demurragedepleted uraniumDERDERDderivativedesign daydiesel indexDifferentialdirect current (dc)dirty powerdiscountdisplacementdistributiondistribution (2)DNADOEdomestic/retail competitiondore bardouble bottomdouble topDow theorydowntrenddry gasDWTEE-4EBeconomy energyEFPEISelectrolytic refiningElliott Waveembedded costenabling agreementenergy chargeenriched uraniumenvironmental impact studyERUsETBEEthaneEthyleneEthylene DichlorideEthylene GlycolETSEUAexerciseexit feeexpiry (options)exponentially-smoothed moving averageFfarm-outFASfast breeder reactorfast reactorFCAFCCFCC (2)FDfeedstockfeedstock gasFERCFERC order 636fertile materialFibonaccifinal disposalFIPfirm energyfirm gasfirm powerfirst corefissile materialfissionfixed chargeflagflash pointflaskflexibility mechanismflue gas desulfurization unit (scrubber)FOBFODforce majeureforced outage rateFortiesforward priceforward price curveforward contractFree CarrierFree on BoardFTfuel assemblyfuel cellfuel fabricationfuel switchingfull-forced outagefusionfutures contractGg/lgalgallonGann theorygas bubblegas-gatheringgasoilgasolinegenerationgeneratorgeothermalGHGsgigajoule (GJ)gigawattgigawatt hour (gwh)gigawatt-hourGISGOBgold loansGOM or GMg-pgridGrosskrotzenburgGroup 3HHDAhead and shouldersheap leachingheavy crude oilheavy metalsheavy waterhedgeHenry HubHexaneHFCsHigh Density Polyethylene (HDPE)highly enriched uraniumHIPSHLSHOHormuzHot AirHSFOhubhydroelectric plantIimpedanceinitial margininjin-lieu energyinterconnectionInterconnector, (the European)intermediate loadinterruptible demandinterruptible gasin-the-moneyintrinsic valueinverse head and shouldersIPEIPPirradiated fuelisomerisomerateisomerizationisotopesITITLITTJJIJISCjoint venturejoulesKkerokilowattkilowatt (kw)kilowatt year (kw-y)kilowatt-hourktKyoto ProtocolLlambdalanded costLaufenburglaycanlblendingLIBORliftingLinear Low Density Polyethylene (LLDPE)light crude oillight endsligniteliquefied natural gasliterLLSLMELNGloadload curveload factorload managementload shapeloaninglonglong-run marginal costsloop flowloss of load probability (lolp)Low Density Polyethylene (LDPE)LPGLRLSFOLSWRLVNMMACD (moving average convergence divergence)marginal cost pricingmarginal price of energymarket-area storage, or hubmarket on closemark-to-marketmcfMedmegawatt (mw)megawatt-hour (mwh)MEKMethanolMethyl Tertiary-Butyl Ether (MTBE)MIBKmmbtummcfMMSmoderatormogasmomentumMONMonoethylene Glycol (MEG)MOPMOPAGMOPSmothballmoving averagemoving average crossovermoving average envelopesMRMR (2)mtMTBEmunicipal utilityNN&AN2Onameplate capacityNAPnaphthanaphthenicnaphthenic naphthaNational Balancing PointNational Energy Boardnatural gasnatural gasnatural gas measurementsNERnet capabilitynet generationnet smelter returnnetworkNGLnuclear fuelnuclear fuelnuclear power plantnuclear reactornuclear wasteNWENYHNYMEXOo/roctane numberofferoff-peakoffsetOfgemohmolefinsOn Balance VolumeOPECopen interestopen interestopen outcryopen pitoperating reserve marginoptimizationoptions contractorthoxyleneoscillatorout-the-moneyout-turnover-the-counteroxygenateoxygenated gasolinePP&CP/CPADDparaffinicparaffinic naphthaParaxyleneparkingPDHpeak demandpeak loadpeak load plantpeaking capacitypennantsPEP indexpetrochemicalsPFCsPFGPhenolphysical deliveryplplutoniumpoint-and-figurePolyethylene (PE)Polyethylene Terephthalate (PET)polymersPolypropylene (PP)Polystyrene (PS)Polyvinyl chloride (PVC)pooling pointpostage stamp rateposted pricepour pointpower purchase agreementppmPPTprempremiumprice capprimary/secondaryprime moverpromptPropyleneproxy hubPRTpumped-storage hydroelectric plantPurified Terephthalic Acidput optionputs/calls ratiopygasQQua IboquotaRR+M/2rack priceradioactive decayraffinate-1, raffinate-2rallyrandom walkRate of Change of Pricesreactor typesRECre-enrichmentrefrefineryReforestationreformateregreg unlregassification pointRelative Strength Indexrenewable sourcereserve capacityReservesreservoirresidsresistanceretail competitionretracementreverse tollingRFGRINsRNRrisk disaggregationroll overRONrun-of-river plantRVPSs/dsaltingSBRsecondary marketsettlement priceSF6shortSIMEXsmeltersolar generationsolvent extraction-electrowinningSolvent Naphtha (C9)sour/sweet crudesour/sweet gasspark spreadspillspinning reservespot marketSPRspreadspread (options)Spread-tradingsteam crackersteam generation plantstochasticsstoragestraight runstranded investment/stranded costsstress testingstrike pricestyrenesubstationsuperconductivitysuperconductorsupportsurplus energysuspswitching station/switch yardswaps contractsynthetic natural gassystem lambdasystem operatorTt/at/ctailingstake-or-paytankerstariffTDPtech grdterawatt hours (twh)TETthermthermal generationthoriumthroughputtiered ratestime valuetimechartertolling arrangementtolling feeToluenetonnetransformertransmissiontransmission losstransmission voltagetreatment/refining chargestrendtrend linestriangletriple bottomtriple topturbineturnaroundTVATVA (2)two-part rateUUKCULCCUnconventional gasuncovered position (futures)uncovered position (options)UNFCCCUNLuptrenduraniumUSACUSECUSGUSWCVValue at Risk (VaR)vanadiumvarvariable costsvariation marginVERsVGOVinyl Chloride MonomerviscosityVLCCvolatility (Chaikins)volatility (historical volatility)volatility (options)voltvoltage controlvoltage reductionWwattwatt hour (wh)weighted moving averagewet gaswheelingwheeling servicewholesale wheelingworking gasWTIWTSXXylenesZZeebrugge15 Day BrentThe 15-Day Brent crude oil market is so-called because a seller must give a buyer a minimum 15 days notice of the intended loading dates for a cargo of Brent Blend North Sea crude oil in any particular month traded. 15-Day Brent is traded in discreet months. At the point where the buyerwho may be at the end of a long trading chainis informed of the loading dates, the cargo becomes a so-called Dated Brent cargo.AAUsAssigned Amount Units: National level greenhouse gas emission allowances established under the Kyoto Protocol. One AAU represents one metric ton of CO2 equivalent greenhouse gas. The amount held by each country is determined by the 1990 emissions baseline and national Kyoto target for 2008-2012. AAUs are tradable at state level only. A country failing to meet its Kyoto emissions reduction target can buy AAUs from another Kyoto Annex I country that has met its target and holds a surplus.A/FAbbreviation for anti-freeze, one of the larger end-uses of monoethylene glycol.AbandonTo allow an option to expire worthless.AccumulationA situation in which the market is dominated by buyers, who accumulate the commodity they are trading.AcetoneAcetone is a volatile liquid used as an industrial solvent.AcrylonitrileAcrylonitrile is an important monomer for the manufacture of useful plastics such as polyacrylonitrile. Most industrial acrylonitrile is produced by catalytic ammoxidation of propylene.Acrylonitrile-butadiene-styrene (ABS)ABS is a terpolymer made by polymerizing styrene and acrylonitrile in the presence of polybutadiene.AfforestationThe establishment of trees on an area that has lacked forest cover for a very long time or has never been forested (see also reforestation).AGSee Arab GulfAGOAtmospheric gasoil.AlkylateA gasoline blending component composed of isobutane and propylene or butylene.Alternating current (AC)A periodic current, the average value of which over a period is zero. Typically refers to a current that reverses its direction at regularly recurring intervals of time and that has alternately positive and negative values. Almost all electricity utilities generate AC electricity because it can easily be transformed to higher or lower voltagesAlternating current distributionThe supply of electricity from one or more major receiving stations to the point of consumption. Energy is generally supplied at a voltage that can be directly used by large rotating machinery and step-down transformers are used to reduce the voltage for most commercial or residential utilizationAmerican style optionAn option which can be exercised by the buyer (holder) at anytime during its lifeAmpere (amp)The unit of measurement of electrical current produced in a circuit by 1 volt acting through a resistance of 1 ohm. The measure of the rate of flow of electrons past a given point in an electric conductor such as a power lineAncillary servicesAny service required by a system operator to deliver electricity to the ultimate consumer. Ancillary services include balancing services, load following, or providing kilovars (reactive power).Andrews PitchforkThree parallel trendlines are drawn linking a major low or high with a point either side of this marking an intermediate high or low. The lines are extended to generate support/ resistance levels. The lines look a bit like the prongs of a pitchfork, hence the indicators name.Aniline pointReports the aromatics content of a mixture.Annex I PartiesThe 40 industrialized countries that were members of the OECD in 1992, plus countries with economies in transition (EIT parties), including the Russian Federation, the Baltic States, and several Central and Eastern European States. This group ratified the Kyoto Protocol and agreed to try to limit their GHG emissions relative to a 1990 baseline.Annex II PartiesThe OECD members of Annex I, minus the EIT parties, which agreed to pay developing (non-Annex I) countries for climate change adaptation.anodeA rectangular plate of metal cast in a shape suitable for refining by the electrolytic process.ANSAlaska North Slope crude oil.anthraciteA hard, black coal with high energy content, often referred to as hard coalAPIUsually: American Petroleum Institute. But note that there is an Italian oil company called Anonyma Petroli Italiana, universally referred to in Europe as API.API gravityAn arbitrary scale expressing the gravity or density of liquid petroleum products devised jointly by the American Petroleum Institute and the National Bureau of Standards. The measuring scale is calibrated in terms of degrees API. Oil with the least specific gravity has the highest API gravity. The formula for determining API Gravity is:API gravity = (141.5/specific gravity at 60 degrees F) 131.5.APTAmmonium paratungstate. Intermediate product derived from tungsten concentrates.ARAAmsterdam-Rotterdam-Antwerp. Abbreviation commonly used in shipping to designate discharge or loading at one of these three ports.Arab GulfThis phrase and its abbreviation AG are current in some sectors of the oil industry, especially the tanker world, as a designator for the Persian Gulf, which is the correct name in international law for the body of water bordered by the UAE, Saudi Arabia, Qatar, Kuwait, Iraq and Iran. Note that there is a Gulf of Arabia which is not the same piece of sea as the Persian Gulf.AramcoTechnically refers to a now-defunct US-Saudi company. But in practice widely used to designate the companys modern-day descendant Saudi Aramco.arbitrageThe simultaneous purchase of a commodity/derivative in one market and the sale of the same, or similar, commodity/derivative in another market in order to exploit price differentialsaromaticsGroup of petrochemicals characterized by a ring structure, produced in refinery reformers and petrochemical plants. The most commonly traded aromatics are benzene, toluene and xylenes. Used for chemical production or as high-octane components for gasoline blending.asphOccasional abbreviation for asphaltene.asphalt1. A mixture of bitumen and mineral aggregate as prepared for the construction of roads or in other paving uses.2. In the US, asphalt refers to the product known as bitumen in the rest of the world.assayA chemical test performed on a sample of ores or minerals to determine the amount of valuable metals contained.assessmentA Platts assessment is the product of a market survey and the application of strict methodological rules to determine the repeatable tradable price range for a commodity during the assessed period. Assessment typically aims to zero in on these typical transactable levels by discarding unrepresentative market information (out-of-market bids, offers and transactions), and the process differs in this respect from indexation, which is an inclusive process, averaging all available market information. Platts produces indexes in highly liquid markets, for example North American natural gas; and assessments in illiquid markets, such as those for physical oil. Platts assessments typically are published as a low-high range for each instrument. See Platts Guide to Specifications and also Frequently Asked Questions for details of Platts methodologies.associated gasAlso known as wet gas. natural gas produced in association with crude oil. Non-associated gas, or dry gas, is natural gas occurring on its own. Also, LPG is produced as an associated gas and must be treated (dried) before being used.at-the-moneyAn option whose exercise price is equal, or close to, the current price in the underlying marketAUDAustralian dollar.availability factorIn a nuclear power plant, the disposable energy which could have been generated during a period, expressed as a percentage of the energy which could have been produced by a continuous power rate during the same period essentially relates to the time a reactor spends off line owing to planned outages or unplanned stoppages.available but not needed capacityNet capability of main generating units that are operable, but not considered necessary to carry load and cannot be connected to load within 30 minutesavailsJargon, short for availabilities, and actually meaning supplies.average cost pricingA pricing mechanism based on dividing the total cost of providing electricity incurred in a period by the number MWh (wholesale) and kWh (retail) sold in the same periodavgasHigh octane aviation gasoline used in piston type aircraft engines.avoided costThe cost to produce or procure electric pow