Home > Glossary

Glossary - f

For your convenience, this page contains an alphabetically organized list of terms, definitions and common acronyms used in the electric utility industry.

F

Term/Acronym	Definition
FERC	Federal Energy Regulatory Commission
FTP	FTP File Transfer Protocol
Facilities	Equipment situated for the purpose of conducting service and/or business through use of the ERCOT System.
Final Day-Ahead Schedule	Those schedules ERCOT deems valid following the close of the Day Ahead period.
Final Statement	See Settlement Statement
Financing Persons	The lenders, security holders, investors, partners, multilateral institutions, and others providing financing or refinancing for the business of Entity, including development, construction, ownership, operation and/or maintenance of a Facility or any portion thereof, or any trustee or agent acting on behalf of any of the foregoing.
Force Majeur Event	Any event beyond the reasonable control of, and that occurs without the fault or negligence of, the Entity whose performance is prevented by the occurrence of such event. Examples of such a Force Majeure Event include, but are not limited, to: an act of God, labor disturbance, act of the public enemy, war, insurrection, riot, fire, storm or flood, explosion, breakage or accident to machinery or equipment, or a curtailment, order, regulation or restriction imposed by governmental, military, or lawfully established civilian authorities.
Forced Derate	For a Generation Resource, a failure that requires immediate removal (either through controlled or un-controlled actions) of a portion of the capacity of the Resource from service through automated or manual means. The portion of the Resource removed from service must exceed two-percent (2%) of its prior High Sustainable Limit (HSL) for Generation Resources larger than 500 MW and ten-percent (10%) of its prior HSL for Generation Resources smaller than 500 MW. For Qualified Scheduling Entities (QSEs) representing Wind-powered Generation Resources (WGRs), the loss of a portion of the capacity shall be due to the unavailability of a portion of the equipment and shall not include capacity changes due to changes in the weather. For QSEs representing WGRs, the percentage calculation will be determined using the generating unit’s maximum net power.
Frequency Bias of Portfolio	A positive (+) value, in megawatts per 0.1Hz, to represent response of a QSE's Resources to a deviation in frequency from scheduled frequency.
Fuel Index	An electronically-published index that reflects the price of fuel as determined by a fuel industry organization using available market information.
Fuel Oil Price (FOP)	The Market Participant may use either of the following two fuel oil index prices: (1) Gulf Coast No. 2 The sum of five cents plus the average of the Platts Oilgram Price Report for U.S. Gulf Coast, pipeline No. 2 oil, converted to dollars per million British thermal units ($/MMBtu). The conversion is 0.1385 MMBtu per gallon. The Platts Oilgram Price Report indicates which Operating Days the prices are effective. For Saturdays, Sundays, holidays, and other days for which Platts Oilgram Price Report does not publish an effective price, the effective price shall be the effective price for the Operating Day following the holiday or day without a published price. In the event, at the time of settlement or calculation of generic costs, that the effective price for a particular Operating Day is not available, the effective price for the most recent preceding Operating Day shall be used. (2) Ultra Low Sulfur (ULS) Diesel #2 The sum of five cents plus the average of the Platts Oilgram Price Report for ULS Diesel #2, converted to dollars per million British thermal units ($/MMBtu). The conversion is 0.1385 MMBtu per gallon. The Platts Oilgram Price Report indicates which Operating Days the prices are effective. For Saturdays, Sundays, holidays, and other days for which Platts Oilgram Price Report does not publish an effective price, the effective price shall be the effective price for the Operating Day following the holiday or day without a published price. In the event, at the time of settlement or caluculation of generic costs, that the effective price for a particular Operating Day is not available, the effective price for the most recent preceding Operating Day shall be used.