| Area price | Price valid in specified area. |
| Electricity price | It is calculated as share of sum of all payments for used electricity and the used amount (EUR/kWh). Usually composite prices (tariffs or tariff systems) are used comprising of constant factor (independent from the amount of used electricity, i.e. payment for max. power off-take) and variable factor (dependent on volume of used electricity). Various customers can principally pay different price for the same amount of electricity. The price depends on tariff and off/take nature/process. The average price of electricity for producers and distributors is calculated as share of sum of total production costs or purchase price plus fair profit and the amount of supplied electricity. |
| Cross-border profile | Connection lines connecting two adjacent transmission systems. |
| Daily diagram | The sequence of values of the agreed quantity of electricity consumption or electricity supply in MW for each trading hour of a trading day. |
| Day ahead Market | Known also as Day-Ahead Market, is a way of transparent trading in time close to the time of delivery (one day before the delivery normally). The market is also called Spot market and the outcome is beside others spot price definition. |
| Electricity import | The flow of a contractually agreed quantity of electricity from a European Union Member State or a third state to the defined territory. |
| Energetic week | The sequence of seven following trading days starting on Saturday at 00:00:00 and ending on Friday at 24:00:00. |
| External Market Operator | External company organizing the market in defined trading area, which is a partner of OKTE, a.s., in the process of Market coupling. |
| Kilowatt-hour | Unit of expended active energy means conjunction of active energy and time. 1 kilowatt-hour is the amount of energy used by a 100 W light bulb in 10 hours or a heat storage stove powered by 3kW in 20 minutes. |
| Market coordinator | Entity (possibly part of the information system) coordinating cross border exchanges of electricity among cooperating trading areas. |
| Market coupling | Principle of integration of two or more trading areas. |
| Market Coupling Capacity | Daily transmission capacity reserved for market coupling. |
| Electricity purchase | Records the flow of electricity among subjects doing business in energy sector, i.e. producers, distributors and electricity dealers. |
| Electricity trader | Natural or legal person buying electricity for further sale. |
| Trading day | 24 trading hours except for the transition of the trading day from the Central European Time to the Daylight Saving Time and back starting with the first trading hour at 00:00:00 and ending at 24:00:00. By transition to the Daylight Saving Time the Trading day is 23 trading hours and by transition to the Central European Time the Trading day is 25 trading hours. |
| Trading hour | Basic time frame for which electricity delivery or off-take is agreed. First trading hour of the trading day starts at 00:00:00 and ends at 01:00:00. It is marked by Nr. 1. |
| Trading area | Geographically concluded area which may but need not run independent market evaluation. |
| Electricity consumer | Usually the final consumer of electricity buying electricity for home consumption (production of goods and services or personal consumption) – in such case electricity consumer equals final consumer. |
| Valid currency | Since 1.1.2009 the valid currency is Euro (EUR). |
| Electricity market rules | Government Act Nr. 317/2007 Coll. establishing rules for electricity market operation. |
| Electricity transmission | The transport of electricity on the transmission system in the defined territory, or the transport of electricity on the transmission system from/to the interconnected transmission systems of Member States of the European Union or the territory of third states. |
| Transmission System Operator (TSO) | A legal person authorized to transport electricity in a part of the defined territory according to the Act on Energy. SEPS, a.s., is the Transmission system operator in Slovakia. |
| Spot/Area price | Market clearing price – price achieved in individual time intervals in the process of order matching. |
| Electricity consumer | Customer buying electricity for final consumption. It can be a wholesale customer of electricity (enterprise) and final customer of electricity (households or small firms). The difference between wholesale customer and consumer is in the fact that wholesale customer can sell the electricity further. |
| Subject of Settlement | An electricity market participant that chose the regime of its own responsibility for deviations and signed the Agreement on Settlement of Deviation. |
| Electricity market | Consists of purchase and sale of electricity. Currently there are extensive monopoles on the electricity market and there is a worldwide effort to increase the competition in electricity production and on electricity market. The European Union countries abide to the Directive 96/92/EC passed in 1999, which specifies basic terms for internal electricity markets in member countries. The seclusion of individual functions of electricity system, i.e. production, transmission, distribution and sale of electricity is very important for good function of electricity market. The basic goal of introducing competition into electricity production and market is to achieve higher efficiency of electricity system. The actual form of electricity market differs in various countries but there are two basic models of electricity market. They differ in the form of access to the system – either one buyer only or agreed access of third parties to the system. |
| Short-term organized market participant | Subject of Settlement that signed the Agreement on daily market access and/or other markets organized by OT. |
| Market participant | See Short-term organized market participant. |
| Electricity market participant | The electricity producer, the transmission system operator, the distribution system operator, the electricity supplier, the electricity customer and the wholesale customer of electricity. |
| Regulatory Office for Network Industries | Established in 2001 for state regulation for network industries – production, purchase, transmission and distribution of electricity, gas, heat, production and supply of drinking water, disposal and cleaning of waste water. Those are industries where natural competition is missing and there is a risk of abusing the dominant position of producers and suppliers on the expense of consumers. |
| Electricity producer | A natural or legal person authorized to produce electricity. |
| Electricity export | The flow of a contractually agreed quantity of electricity from the defined territory to a European Union Member State or a third state. |
| Act on Energy | Act Nr. 656/2004 Coll. on Energy and changing several laws as in Act Nr. 555/2005 Coll., Act Nr. 238/2006 Coll., Act Nr. 107/2007 Coll., Act Nr. 112/2008 Coll., Act Nr. 283/2008 Coll., Act Nr. 476/2008 Coll., Act Nr. 73/2009 Coll., Act Nr. 293/2009 Coll., Act Nr. 309/2009 Coll., Act Nr. 136/2010 Coll., Act Nr. 142/2010 Coll. as amended |
| Act on Regulation | Act Nr. 276/2001 Coll. on Regulation for Network industries and changing several laws in Act Nr. 397/2002 Coll., Act Nr. 442/2002 Coll., Act Nr. 656/2004 Coll., Act Nr. 658/2004 Coll., Act Nr. 107/2007 Coll., Act Nr. 112/2008 Coll. and Act Nr. 283/2008 Coll., Act Nr. 73/2009 Coll., 309/2009 Coll., Act Nr. 142/2010 Coll. as amended |
| Deviation Biller | Legal entity providing deviation billing among contractually agreed and actual values of electricity provided in specified time. OKTE, a.s., is the Deviation Biller. |
