The BIG Gas Market Jargon-buster and Acronym-fixer
At Business Gas.com we are committed to transparency. Our clients love doing business with us because we are open about the nature of our contracts and always accessible whenever there is an issue.
We always try to help our customers better understand the energy market – and use smart meters and gas loggers to help customers better understand their consumption patterns.
Here is a jargon buster prepared by us to help you understand some of the more complex aspects of the gas buying market. If you have any other questions please get in touch via our online form, through social media or in the comments section below.
Defining gas terminology and acronyms
Annual Quantity
The total quantity of gas consumed by a business or household over one year.
BTU
British Thermal Units – the amount of therms consumed by a particular piece of equipment during a specified period, this measure can be used to forecast daily, weekly and annual consumption.
CCL
Climate Change Levy – a tax imposed by government on the use of energy in industry, commerce and public sector.
DNO
Distribution Network Operator – the company which owns and maintains your energy network.
EAC
Estimated Annual Consumption – an estimated forecast annual energy consumption. This can be worked out using historical meter data or a smart meter.
End user
The ultimate consumer of gas in residential, commercial or industrial setting.
Energy broker
An individual or a company acting on behalf of a client to get the best deal on energy.
Fixed price contract
A contract which guarantees a set price for the duration of a contract which insulates consumers against price shifts.
Gas Buying Group
A group of businesses who join together to buy higher volumes of gas. By grouping with other gas intensive companies they stand to benefit from better economies of scale and ultimately a cheaper wholesale price.
Gas Supplier
A company that sells gas to the end consumer.
GW
Gigawatt – equal to one million kilowatts.
kWh
kilowatt hour – the most commonly used unit for energy in gas.
MPR
Meter Point Reference – the unique reference number which appears on your gas bill. It is used to identify your gas supply.
OFGEM
Office of Gas & Electricity Markets – the regulatory body of the energy market in the UK.
Therm
A somewhat dated measure for volume of gas delivered. It has largely been replaced by the kWh. 1 Therm = 29.3071 kWh.