Glossary - f
For your convenience, this page contains an alphabetically organized list of terms, definitions and common acronyms used in the electric utility industry.
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Term/Acronym |
Definition |
| F&A | Finance and Audit |
| FASD | First Available Switch Date |
| FCE | Future Credit Exposure |
| Fed | Federal |
| FERC | Federal Energy Regulatory Commission |
| FGR | Flowgate Right |
| FIP | Fuel Index Price |
| FOP | Fuel Oil Price |
| FPA | Federal Power Act |
| FRR | Final RPS Requirement |
| FTP | FTP File Transfer Protocol |
| Facilities | Equipment situated for the purpose of conducting service and/or business through use of the ERCOT System. |
| Facility Identification Number | A number assigned to a renewable Resource facility by ERCOT. |
| Final Day-Ahead Schedule | Those schedules ERCOT deems valid following the close of the Day Ahead period. |
| Final Statement | See Settlement Statement |
| Financing Person | The lender, security holder, investor, partner, multilateral institution, or other Entity providing financing or refinancing for the business of another 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. |
| Flowgate Right (FGR) | See Congestion Revenue Right (CRR) |
| Force Majeur Event | Any event beyond the reasonable control of, and that occurs without the fault or negligence of, an Entity whose performance is prevented by the occurrence of such event. Examples of such a Force Majeure Event may include the following, subject to the limitations of the above sentence: 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. |
| Forced Outage | See Outage |
| 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 Index Price (FIP) | The midpoint price expressed in dollars per million British thermal units ($/MMBtu), published in Gas Daily, in the Daily Price Survey, under the heading “East-Houston-Katy, Houston Ship Channel.” The Gas Daily indicates which flow dates the prices are effective. For Saturdays, Sundays, holidays, and other days for which Gas Daily does not publish an effective price, the effective price shall be the effective price for the Operating Day following the holiday or day without a published price. If, at the time of calculation of peaking operating cost of System-Wide Offer Cap, or at the time of settlement or calculation of generic costs, the described midpoint price for a particular Operating Day is not available, the effective price for the most recent preceding Operating Day shall be used. |
| Fuel Oil Price (FOP) | The sum of five cents per gallon plus the average of the Platts Oilgram Price Report for U.S. Gulf Coast, pipeline No. 2 oil, converted to dollars per million British thermal units ($/MMBtu). The conversion is 0.1385 MMBtu per gallon. The Platts Oilgram Price Report indicates which Operating Days the prices are effective. 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. |