Glossary

This glossary has also been published in Vattenfall's Annual and sustainability report.

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

Power units
Energy units
Weight units
Voltage

A

APX
Amsterdam Power Exchange. An energy exchange for the Netherlands, the UK and Belgium.

Aspect
GRI term that describes sustainability areas based on the categories Environment, Economy and Society.

Availability
Actual electricity generation in relation to the maximum possible generation.

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B

Biomass
Renewable fuel, such as wood, bark and pine oil.

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C

CHP (Combined Heat and Power)
A plant that produces both heat and electricity. In such a plant a large share of the primary energy is used for electricity and heat production, with little wasted heat.

CO2
Carbon dioxide.

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D

Derivative instrument
A financial instrument that is commonly used to manage risk. Its value and change in value is related to the underlying (derived) instrument. Examples of derivative instruments are options, forward contracts and swaps.

DMA
"Disclosures on Management Approach". Describes why certain sustainability aspects are identified as material for the company and how steering and monitoring of these are conducted.

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E

EEX
The European Energy Exchange. The Germany electricity exchange.

Efficiency
An efficiency rating indicates the relationship between energy output and the energy input in a system.

EPD
Environmental Product Declaration – a third-party environmental declaration in accordance with ISO 14025 (www.environdec.com).

EPEX
The spot market of EEX. Since 2009 part of EPEX Spot SE, Paris.

EU 27
The 27 member-states of the EU after its widening on 1 January 2007.

EU ETS
The EU Emissions Trading System. The EU's trading system for CO2 emission allowances. The system sets a cap for emissions from businesses within the system and facilitates optimisation through trading in emission allowances.

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F

Forward market
A market in which buyers and sellers agree on a set price for a future delivery of the underlying instrument, such as an electricity contract. (See also Derivative instrument).

Fossil fuels
Fuels based on hydrocarbons from ancient sedimentary layers – mainly coal, oil and natural gas.

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G

Global Compact
The United Nations' (UN's) ten principles for companies surrounding human rights, labour issues, the environment and anti-corruption.

GRI
Global Reporting Initiative – a global standard for sustainability reporting.

Gross capacity
The electric output delivered directly from a plant's generator. Measured in MW (Megawatt).

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H

HOB (Heat only boiler)
A plant that produces heat for district heating as its sole output.

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I

IED (Industrial Emissions Directive)
An EU directive that sets higher demands on lowering emission levels and spills to soil and water.

IFRS
International Financial Reporting Standards – Vattenfall has been reporting in accordance with IFRS since 2005.

Indicator
GRI term that provides qualitative or quantitative information about the performance and development of the aspects that are identified as material for the company.

Installed capacity
The performance according to design data for power plants. Commonly measured in MW (Megawatt).

Intrapreneurship
An innovative process within an organisation, typically larger companies.

ISO 14001
An international standard in the ISO 14000 series for establishing environmental management systems.

ISO 9001
An international standard in the ISO 9000 series for establishing quality management systems.

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L

LEC (Levelised Energy Cost)
The average cost of production per kilowatt hour electricity, calculated over the full life-time of the generating asset. The net present value method is used to discount future costs with the average cost of capital (WACC).

Life cycle analysis (LCA)
Methodology to establish a products' total environmental impact during its life cycle, from raw material extraction, through manufacturing processes and usage, to waste management, including all transportation and energy consumption.

LTI (Lost Time Injury)
Work-related accidents resulting in absence longer than one day, and accidents resulting in fatality. Commonly expressed as LTIF, or Lost Time Injury Frequency, the number of such accidents per 1 million hours worked.

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M

Margin call
Marginal security that the holding of a derivative position must pledge to cover the credit risk of its counterparty (OTC or exchange).

Merit order
The order in which production capacity at plants is used.

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N

Net capacity
The electric output that a plant delivers to distribution networks, i.e., gross capacity less the energy used by the plant itself. Measured in MW (Megawatt).

Nominal capacity
The capacity that a generator is designed for. This concept is used mainly for electricity generation power plants, e.g., hydro power plants and wind turbines. Measured in MW (Megawatt).

Nord Pool
The Nordic electricity exchange. Started in Sweden and Norway in 1996.

NOx
Collective term for nitrogen oxide, nitrogen dioxide and similar nitrogen compounds.

NPS
Net Promoter Score, or NPS, is a score ranging from -100 to 100 that measures the willingness of customers to recommend a company's products or services to others and is used to determine the customer's overall satisfaction with a company and loyalty to the brand.

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O

OHSAS 18000
A series of standards that can be used as a basis for an occupational health and safety management system.

OTC
Over the Counter. Trading outside of exchanges (directly or via brokers) in physical and financial contracts.

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P

Peer-to-peer
Two or more individuals or customers can connect and transact directly, without going through a company.

Power-to-Heat
Converting electricity to heat using electric boilers combined with hot water storage. With Power-to-Heat systems, the excess power generated primarily from renewable energy can be utilised later as district heating.

Primary energy
Primary energy is the form of energy that is accessible directly from the original sources. Vattenfall uses the interpretation applied by Eurostat and IEA. This means that all fuels are assigned a primary energy content corresponding to its heating value. Uranium is assigned a primary energy content corresponding to the heat released in the power plant. Solar, wind and hydro power are assigned a primary energy content corresponding to the extracted electricity (or heat).

Prosumer
Someone who both produces and consumes electricity.

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R

Renewable energy sources
Non-finite energy sources such as hydro power, biomass, wind, the sun, ocean waves and geothermal energy.

Repowering
The process of replacing older wind power stations with newer ones that either have a greater capacity or more efficiency, which results in a net increase of power generated.

Reservoir levels
Refers to the volume of water stored in a reservoir which on a specific occasion can be used for hydro power generation. Reservoir levels vary during the year depending on precipitation and production.

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S

SAIDI (System Average Interruption Duration Index)
An index of average power interruption times within electricity distribution. Measured in terms of interruption duration per customer and year.

SAIFI (System Average Interruption Frequency Index)
An index of average power interruption frequency within electricity distribution. Measured in terms of the number of power interruptions per customer and year.

SF6
A greenhouse gas over 15,000 times more potent than CO2 which is commonly used for electrical insulation.

SKB
Svensk Kärnbränslehantering AB (The Swedish Nuclear Fuel Management Company) – responsible for handling radioactive waste in Sweden.

SO2
Sulphur dioxide.

Spot market
A market in which trading is conducted for immediate delivery.

Swap
A financial instrument that is a combination of a spot and forward transaction – a type of financial swap agreement.

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T

Thermal power
Electricity generated via a heating process, such as a gas turbine or a steam process in a coal or nuclear power plant (compare combined heat and power).

TPI (Third party integration)
A process in which excess or waste heat, which would otherwise be released to the atmosphere, is captured from the industrial facilities in which it is produced and integrated into the district heating network.

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V

Volatility
A measure of how the price of a product varies during a given period of time.

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W

Waste hierarchy
The EU's prioritisation framework for how waste is to be avoided and managed.

White label
A product or service which is provided to customers who then brand the product themselves and resell it as their own.

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Power units

  • Power is energy per unit of time
  • Power output is measured in watts (W)
  • 1 kW (kilowatt) = 1,000 W
  • 1 MW (megawatt) = 1,000 kW
  • 1 GW (gigawatt) = 1,000,000 kW

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Energy units

  • Energy is power multiplied by time
  • 1 kWh (kilowatt hour) = 1 kW in one hour
  • 1 MWh (megawatt hour) = 1,000 kWh
  • 1 GWh (gigawat hour) = 1,000,000 kWh
  • 1 TWh (terawatt hour) = 1,000,000,000 kWh

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Weight units

  • ktonnes (kilotonnes) = 1,000 tonnes
  • Mton (megatonnes) = 1,000,000 tonnes

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Voltage

1 kV (kilovolt) = 1,000 volts (V)

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