Procurement jargon buster

Our handy jargon buster is here to act as your energy procurement glossary.

Click the blue letters to jump to the different sections in the directory.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z #

A

Annual Quantity

The term is used to describe the annual consumption of a gas meter.

B

The Big 6

The six largest energy suppliers in the UK.

C

Change of Tenancy (COT)

A change in the ownership of a business premises.

Change of Ownership (COO)

A change in the ownership of a business.

Climate Change Levy (CCL)

A tax on the use of fossil fuels in the UK. 

Consumption

The amount of energy that is used by a business. 

Contract End Date (CED)

The day your contract ends.

E

Estimated Annual Consumption (EAC)

The estimated total usage for electricity meters. Used for pricing energy contracts and billing.

Estimated Read

A "best guess" Meter Read by the Supplier based on historical consumption patterns.

F

Fixed Price Contract

The majority of costs or all costs are confirmed for the duration of the contract term on a given day. Rates do not change so it is great for budget certainty.

H

Half Hourly Meter (HHM)

A meter that records energy consumption every half hour.

L

Letter of Authority (LOA)

This is a signed permission slip that allows us to deal with your account on your behalf.

M

Meter Serial Number (MSN)

The unique reference for each meter. Visible on the actual meter.

Meter Point Reference Number (MPRN)

The industry's reference for a Gas meter's location. Does not change when meters are changed and is not visible on the actual meter.

Meter Point Administration Number (MPAN)

The industry's reference for an Electricity meter's location. Does not change when meters are changed and is not visible on the actual meter.

O

Ofgem

The Office of Gas and Electricity Markets who are the independent regulator of the UK's energy markets.

P

p/kWh

This is the unit cost that energy is priced on Electricity and Gas contracts.

R

Renewable Energy Guarantees of Origin (REGOs)

Certificates that prove energy has been generated from renewable sources.

S

Smart Meter

A meter that records energy consumption in real time.

Standing Charge

A fixed fee that is charged by energy suppliers regardless of consumption.

T

Tariff

A contract between a business and an energy supplier, that sets out the price of energy and the terms of supply.

W

Wholesale Price

The price of energy that is traded on the wholesale market.