| |
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| ABI |
|
Association of British Insurers, a body which, inter alia, sets standards of corporate
governance on behalf of insurance companies. |
| ANP |
|
American National Power. |
| Availability |
|
A measure giving the proportion of electrical energy that was available during the year,
after taking account of both planned and unplanned plant outages. |
| BACT |
|
Best available control techniques. |
| BITC |
|
Business in the Community, a charitable foundation. |
| Bond |
|
Security that obligates the issuer (International Power) to make specified payments to
the bondholder (financial institutions). |
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|
| CO2 |
|
Carbon dioxide. |
| CSR |
|
Corporate social responsibility. |
| CCGT |
|
Combined cycle gas turbine – turbines, that are typically fuelled by natural gas, are used
to drive generators to produce electricity. The exhaust gases are then passed through a
boiler to produce steam that in turn drives an additional turbine coupled to a generator. |
| Cogen |
|
The simultaneous generation of heat and electricity, typically where the need for both
arises for industrial or commercial purposes. |
| Debt capitalisation |
|
Net debt divided by the sum of the net debt and total equity |
| Demerger Agreement |
|
The demerger agreement dated 21 August 2000 between National Power,
Innogy Holdings and Innogy. |
|
|
|
| EH&S |
|
Environmental, health and safety. |
| EPS |
|
Earnings per share, calculated by dividing the profit after interest and tax by the number
of shares in issue. |
| EV |
|
Enterprise value – market capitalisation plus debt capitalisation. |
| ERCOT |
|
The Electric Reliability Council of Texas – is the corporation that administers the power
grid for the state of Texas. |
| ESPS |
|
Electricity Supply Pension Scheme. |
| FRS |
|
Financial Reporting Standard. |
|
|
|
| Gearing |
|
Net debt divided by total equity. |
| Generator nameplate capacity (installed) |
|
The maximum output of a generator under specific conditions designated by the manufacturer. Installed generator nameplate capacity is commonly expressed in megawatts (MW) and is usually
indicated on a nameplate physically attached to the generator. |
| GT24B |
|
Proprietary gas turbine built by Alstom Power. |
| Heat rate |
|
A measure of the amount of heat required to produce a unit of electricty. |
| HUBCO |
|
The Hub Power Company. |
|
|
|
| IASB |
|
International Accounting Standards Board. |
| IFRS |
|
International Financial Reporting Standards. |
| IGCC |
|
Integrated gasification/combined cycle – a combined cycle gas turbine that is fired on a
gas fuel derived from the gasification of liquid or solid carbonaceous material,
eg. oil residues or coal. |
| ISO 14001 |
|
The international standard of environment management systems. |
| KAPCO |
|
Kot Addu Power Company. |
|
|
|
| Merchant market |
|
A merchant market is a deregulated market. |
| Merchant plant |
|
Our merchant plants operate in deregulated markets selling power into the traded market
without long-term power purchase agreements (PPAs). |
| MIGD |
|
Millions of imperial gallons per day. |
| MW |
|
Megawatt; one MW equals 1,000 kilowatts. |
| MWth |
|
One megawatt of thermal power. |
| NEPOOL |
|
The New England Power Pool – together with the ISO New England (Independent
System Operator, New England) is responsible for managing the region's electric bulk
power generation and transmission systems. |
| NOx |
|
Oxides of nitrogen. |
| Non-recourse debt |
|
Debt secured on an asset. |
|
|
|
| OCGT |
|
Open cycle gas turbine. Turbines, typically fuelled by gas or diesel oil, are used to drive
the generators to produce electricity. |
| OHSAS 18011 |
|
Occupational Health and Safety Assessment Series 18011. A management
system specification, developed by the British Standards Institute, for health
and safety which is compatible with ISO 9001:1994 (Quality) and
ISO 14001:1996 (Evironmental) management. |
| O&M |
|
Operations and maintenance, usually used in the context of operating and maintaining
a power station. |
| Off-take agreement |
|
Power purchase agreement between International Power and its customer (the offtaker)
whereby the customer takes the electricity generated by a power station. |
| PAT |
|
Profit after tax. |
| PBIT |
|
Profit before interest and tax. |
| Peak load |
|
The maximum demand during a specified high demand period. This may require use of
plant (for example, pumped storage) that is generally idle. |
| Put |
|
To sell a security back to the issuer at a pre-determined price. |
|
|
|
| RPI |
|
Retail Price Index. |
| Recourse debt |
|
Debt secured by the Company. |
| Reliability |
|
A measure giving the proportion of planned electrical energy that was actually available
during the year, after taking account of unplanned plant outages. |
| Safety walk |
|
A formally structured safety inspection of all operational areas to assess aspects of
general safety, good housekeeping, lighting etc. |
| SCR |
|
Selective catalytic reduction – equipment to reduce the concentration of NOx in flue gases. |
| Spark spread |
|
The difference between the power price and fuel costs. |
|
|
|
| Tolling contract |
|
A form of long-term electricity contract where the buyer of the electricity also supplies
the fuel and the generator provides the energy conversion services in the form of the
plant and operational services required to change the energy in the fuel into electricity. |
| Toolbox talk |
|
Team discussions held on topics related to health and safety, environment, technical
and business environment as a means of improving communication. |
| Trade investment |
|
A business entity over which the investor does not excercise significant influence. |
| UK GAAP |
|
Generally Accepted Accounting Principles in the UK. |
