Every term of art in the manual set, alphabetically. Each entry names where the concept is taught — follow the link for the full treatment. In the volumes, the first use of a term in a chapter links back here.
Accession
The act of becoming a Party to the Market Code (§6.2(8)). An applicant becomes a Party on the agreements' effective date — not when they apply, pay the accession fee, or sign. On the Market Operator console, Activate is that step. Publishing the fact on the public register within seven business days is a separate duty (§6.2(9)). Reinstating a previously-active participant is not an accession. Explained in → V9 §3.13 · V11 §21.5
Accession Fee
The fee that accompanies an application to join the market (§6.2(3)). It is paid at application, not at accession, so it is spent on having the application assessed rather than on the outcome — an application that lapses has still been assessed. Explained in → V9 §3.13
Actual Energy
What a Trading Unit's meters say it did: the net across every metering point allocated to it, per Trading Period (§12.3(2)). It is what the Balancing Mechanism measures against Contracted Energy and Instructed Energy. Not netted across a party's several units — that is a Balancing Group's job — and carrying no loss uplift, because losses are the Network Operator's own market purchase. Explained in → V9 §14.2
Actuals generator
The sim's single source of metered truth: baseline × day factor × (1 + σ·noise) − curtailed , written as 20-minute meter rows both settlement legs read. Explained in → V3 · Strategy
Achieved price
Average sell price earned only on energy that found a buyer (unsold hours ignored). Flattering when the plant is under-contracted — compare with realised . On the IPP Dashboard sources ledger it is the Total earned line achieved {N} c on sold. Explained in → V4 §4 · Dashboard V4 §12.4.7
Adjustment
A cross-period settlement correction — banking movements, shortfall cures, escalation true-ups, dispute outcomes — carried as its own record so a closed period is never silently edited. Explained in → V0 §4
Additional day-ahead energy payment (AEPM)
What you are paid on top of the Market Price Cap when the market clears at the cap and you offered above it (§9.9). You are still scheduled and still paid the cap through the energy market; the difference between the cap and your own offer comes back separately, out of ancillary-service recovery rather than out of other participants. Generation only — a load offering above the cap is expressing willingness to pay, not a cost of producing. Explained in → V9 §13.6
Administered Schedule
What the Market Operator computes under a System Failure (§15.11.3): Administered Quantities per Trading Unit per period and Administered Prices per period — the Wholesale Tariff unless the Market Governance Committee indicates otherwise — reproducing the scheduling algorithm's result as far as practicable. Once the failure is corrected, Settlement Reruns follow. Explained in → V9 §16.2
Administered Settlement
Settling a day the ordinary way is impossible — a System Failure or an Electrical System Collapse (§15.11). A mode of the ordinary pipeline with substituted inputs rather than a separate path, because a path that only runs in a crisis has never been tested. Requires the Market Governance Committee's prior written approval of the calculations and methodology, which is published afterwards. Explained in → V9 §16
Advantage (Sales Desk)
A simulated deal's margin uplift over holding the same energy for the day-ahead market, for the contract term at P50, as a share of the gap's market value (0–100). Shown with its P10 and P90 variants and the break-even strike. Explained in → V4 §6
Adverse basis
On IPP Fleet See buyer exposure, the price tail that valued a buyer row. The grade sits in the middle of the cell: p90 when the book is short (caption 1-in-10 high price · short, buying replacement energy) and p10 when the book is long (caption 1-in-10 low price · long, selling leftover energy). These are the book's unkind price tails, not generation P90, and not an invoice. Explained in → V4 §2
AES (Available Energy for Sales)
max(0, FG − ED_total) — the MWh you can still offer to new buyers. Explained in → V4 §8.1.6 · V4 §5 (widget)
Against instruction
A schedule change the participant caused by changing its own declaration — reducing Declared Available Capacity, or raising declared consumption (§10(6), §10(8)). It is settled flat at the Intra-Day Price, with no protection from the unit's own offered price. A single hour can carry an against-instruction leg and an on-instruction one at once, priced differently. Explained in → V9 §5.2
Against instruction (balancing)
The part of a deviation the participant caused itself. Priced at max(BPB, SMP) when short and min(BPS, SMP) when long, measured from max/min of Instructed and Contracted Energy (§13.9). With no instruction those collapse to the schedule, which is what makes a band breach reprice the whole deviation. Explained in → V9 §6.2
Agreement reference
A contract's permanent identifier, minted when a proposal is accepted: PPPA-YYYYMM-… for physical deals, VPPA-… for virtual. Explained in → V7 §3
Allocation (metering)
Turning a metered hour into two settlement legs: one at the point's own Trading Unit and one, sign reversed, at the counterparty's (§12.3(1)). It always succeeds and always reports what it could not do — one unpaired point must not stop a market-wide settlement. Explained in → V9 §14.1
Allocation run
One immutable execution of the engine for a scenario + period; produces tagged lines + KPIs. The trader screen that shows those lines is the run ledger. Explained in → V3 · Strategy · V6 §8
Allocation set
The group of PPAs sharing one meter, settled together with a defined split so shared energy is never double-counted. Explained in → V8 §5 · V0 §4
Allocation tab
The single IPP strategy tab (third of five, after Sales and before Curtailment) whose three modes are Rules (the editable hierarchy), Forecast (next month's carve) and Outcomes (the settled replay). Formerly the Hierarchy, Forecast and Allocations tabs. All three modes share an Explanations control (#allocation-explanations-open) that opens a right-hand drawer of the abbreviations and terms used on Allocation, as one alphabetic list (AES through Surplus). Explained in → V4 §3.2 · V4 §7 · V4 §8 · V4 §9
Allocation tier
The three ways a buyer can hold IPP energy: PRIORITY (ranked, filled in order), PRO_RATA (equal tier, shortfall shared proportionally), FIXED (entitlement-scaled, filled last). Leftover after those three is Surplus. Explained in → V4 §7.1 · dry-hour strip V4 §7.9
Ancillary service recovery
The second of the three settlement pots. Constrained-schedule adjustments, reserve capacity, above-cap payments, intraday and balancing all accrue here, and the System Operator recovers the whole pot as an ancillary service charge. It does not net to zero and is not meant to: it is where the cost of somebody's decision lands, rather than the cost of energy. Explained in → V9 §13.2 · V8 §8.5
Annual exposure
The year-ahead estimate of the seller's unrecovered curtailed value on one generator site. On Curtailment claims it is the sixth white tile (#curtailment-exposure): a Rand amount or the words no basis, plus the basis in words (Estimated from this site's curtailment history, Estimated from the framework's expected curtailment rate, or No curtailment history or framework rate yet, so there is nothing to estimate from) and a limit line. The same estimate appears on the IPP Dashboard as a white card #ipp-curtailment-exposure (label Annual curtailment exposure, no limit line). It is not a tile on the Money Room — there is no dark Annual exposure card at /org/money. Distinct from this month's Cash at risk (open files), from Unrecovered (closed files on this tab), and from the Money Room sentence Unrecovered curtailment (period leftover). Explained in → V4 §10.5 · tile V4 §10.7 · Dashboard card V4 §11.5.6
ARF (Allocation Reliability Factor)
Fulfilment: allocated ÷ demand (or settled ÷ expected on HAF). On the IPP Allocations Members table it is the period fulfilment column; HAF also reports it per tier and portfolio-wide. Explained in → V4 §9.5.0 · V4 · IPP (HAF factor 3)
Artifact registry
The SimRun 's ledger of every row it created, per resource — the source of exact teardown and of the SIMULATED ribbon. Explained in → V3 · Strategy
Asks
The terms you put on a proposal for the other side to see — indicative capacity and term, a seller price card, party-coded contract fields. Distinct from your private walk-aways on the negotiating brief. Explained in → V7 §3.5
AUG-BASELINE
The reference Scenario Lab recipe (seed 42, 1–31 Aug). Stage S12 enriches it with a mid-month cloudy spell, every SO event kind, every MO injection kind, comparison runs, a failed run, a torn-down run, and a deliberate 20 Aug edit so one cook shows Scenario drifted. Explained in → V14 §6 · V3 §16
Automatic Generation Control (AGC)
The System Operator's closed-loop control of a unit's output, moving it continuously to hold system frequency. An AGC signal is a dispatch instruction like any other for settlement purposes — it takes the unit off its intraday schedule, and with it the 5 % metering allowance for every period it covers. Explained in → V12 §3.5
Availability slide
On the IPP Dashboard Chapter 4 loss ledger, the valued drop in HAF from its best recorded month: each later month below that peak is (peak − this month) × that month's P50 × the SAWEM daytime baseline. The grey line names the drop (HAF 0.86 → 0.79 since 1 March 2026 · estimated). Zero means availability is still at its best. Distinct from Below P50 generation, which values energy never made; the two questions can overlap. Explained in → V4 §12.5.4 · ledger V4 §12.5
Balancing Agreement
One of the two agreements you sign to join the market. It makes you accountable through the balancing mechanism — for the difference between what you scheduled and what your meters did. Distinct from the Market Participation Agreement: a party can be balance-responsible without ever bidding. Explained in → V9 §3.13
Balancing Energy Sold / Bought Stack
The two merit orders the balancing prices are averaged over, built from submitted offer curves rather than from anything that happened in real time (§13.1). Sold is what the System Operator could have bought to raise generation or cut consumption — floored at intra-day scheduled energy plus scheduled instantaneous reserve, ascending. Bought is the mirror, floored at Minimum Stable Generation, descending. Published anonymised: an increment price is a participant's own cost curve. Explained in → V9 §6.4
Balancing Group instructed response
When a group nets outside its band, the part of the residual attributable to dispatch: max(0, Σ SE − max(Σ AE, Σ IE)) when short, and the mirror when long (§13.10). Allocated across eligible members by merit order — highest price first when short, lowest first when long — as a signed quantity, so each member's uninstructed portion reads AE − (SE + allocation) in both directions. Explained in → V9 §6.7
Balancing Penalty Factor
A ratio §2.1(24) defines, apparently to guarantee a minimum balancing penalty, and which no formula in the Market Code uses. Implemented as an inert multiplier defaulting to 1.0 and applied to the System Marginal Price floor, so at 1.0 the arithmetic is exactly §13.7(4) and above 1.0 it lifts the buying price — including in the hour where the Out of Merit Energy exclusion would otherwise remove the penalty entirely. Explained in → V9 §6.5
Balancing Price (Buying) — BPB
What a short Balance Responsible Party pays per MWh: the volume-weighted average of the Balancing Energy Sold stack, walked ascending to the market's Imbalance Energy Bought, after the Out of Merit Energy exclusion and the above-cap exclusion, floored at the System Marginal Price (§13.7). Three times the SMP in a tight hour — or exactly equal to it when the exclusion empties the stack. Explained in → V9 §6.4
Balancing Price (Selling) — BPS
What a long Balance Responsible Party is paid per MWh: the same shape over the Balancing Energy Bought stack, walked descending, with no Out of Merit Energy exclusion (§13.8). Flooring it at the System Marginal Price makes §13.9.1's min(BPS, SMP) collapse to the SMP and removes the over-delivery penalty; the platform ships the literal reading and reports every period where the floor binds. Explained in → V9 §6.4
Bilateral settlement dispute
One party to a PPA formally challenging a settled period's energy or money — raised with Raise dispute on the period, negotiated figure by figure with the counterparty, and closed by two sign-offs. It stamps the period DISPUTED, which stops routine re-runs from replacing the figures under argument. Distinct from a Settlement Dispute, which is the market's third-tier challenge to a Market Operator statement: different object, different room, and neither triggers the other. Explained in → V8 §11.5
B-BBEE
Broad-Based Black Economic Empowerment — the organization's certification level (Level 1–8 or Non Compliant), recorded on its profile and visible to counterparties. Explained in → V2 §2
Background job
Scheduled platform work — the Oban cron workers and resource triggers that settle, forecast, bid, poll and reconcile on the clock, without anyone signing in. Explained in → V1 · The Four Rhythms · preview V0 §6 · ops catalog V21 §3
Balancing Group
Two or more of your own Trading Units designated to be balanced together, so a unit that over-delivers offsets one that under-delivers and neither is penalised. You have to ask for it on /org/trading-units. Four ways it stops, kept distinct: a duration date, a cancellation, an administrative suspension by the Market Operator (a pause with a reason and a window), and a §3.3(6) exclusion — computed per member, per hour, never stored as a group status. Explained in → V9 §3.6 · V9 §6
Banking (energy)
Carrying unconsumed wheeled energy forward as a credit under the PPA's banking terms, drawn down oldest-first in later periods. Explained in → V8 §7 · V0 §5
Battery contract
The owner's register for this generator site's battery: cycle-life, pack replacement cost, dated capacity (state of health), contracted reserves, and the trailing-year KPIs (cycles, round-trip efficiency, availability). On the IPP Dashboard it appears only inside Chapter 5 when this site has a Bess asset. The deep page is /org/generator-sites/:id/strategy/battery. Explained in → V4 §20 · Dashboard health V4 §12.6.1
BESS
Battery energy storage system — a generator site (technology BESS/HYBRID) with dispatch parameters, moving energy through time. Explained in → V3 · Strategy · trader page V6 §11.11
Bess asset
The one battery record (BessAsset) on a BESS or hybrid generator site — power, usable storage, efficiency and wear. One per site. A solar or wind site cannot hold this record. The IPP Dashboard weaves the contract into health only when this site has one. Explained in → V3 §10.3 · owner register V4 §20
Bi-annual audit
The independent audit of the Market Operator's IT infrastructure and software that §16(4) requires twice a year and makes publicly available. Its scope and evidence pack are published at /api/v1/publication/audit. The evidence is the artefacts the build already produces — conformance results, reference vectors, invariant assertions, replay proofs — rather than a pack assembled specially, because a pack assembled specially is an audit of the assembly. Explained in → V9 §17
Bid Desk (organisation)
The organisation's trading floor at /org/brp/bid-desk. Daily is the front door. From a Trading Unit card you walk into Submissions (the day-ahead write), IDM (the intraday patch), Forward (the standing order), Settlement (one Trading Day chalkboard) and Imbalance (meters against the ticket). You talk to the Market Operator. The System Operator appears as a system-condition banner, and as Instructed Energy on Settlement / Imbalance. The Billing Period wallet lives on Market Month (sidebar After Delivery). Distinct from the Market Operator's Bidding console. Explained in → V10 §12 · V9 §4
Bid ladder
The hour's offer rungs (one per component, at opportunity cost × 10 + safety margin , cheapest first) or its single buy line (limit avoided cost × 10 − margin ). R/MWh = c/kWh × 10 — the module's only unit conversion. Explained in → V9 §4
Bid status
DRAFT → SUBMITTED → ACCEPTED / PARTIAL / REJECTED / EXPIRED . Gate-miss bids expire unsubmitted. Explained in → V9 §4
Bidding (MO console)
The Market Operator workbench at /mo/bidding: six tabs (Daily, Submissions, IDM, Settlement, Month, Clear) sharing one trading date. Replaces the old MO Bid Desk. The MO cannot edit a price curve; Solve and Publish are two buttons. Explained in → V11 §13.5
Bill saving
Σ (grid tariff − landed cost) × wheeled kWh consumed, net of over-contracting losses. The off-taker book's headline (KPI SAVINGS_R ). Distinct from the directory Saving · month tile, which is energy-only and ignores landed cost. Explained in → V5 §4.1 · V3 · Strategy
Billing period
The wholesale market's invoicing month: one calendar month from 00:00 on the 1st. Deadlines counted from it read BP+xWD — x business days after the month ends. Explained in → V1 §1.3
Book
One party's whole strategy portfolio — its pools, runs, simulations, nomination plans, battery schedules, snapshots and limits. Created automatically the first time you open Strategy. Comes in three kinds : TRADER (keyed to a trader pool), OFFTAKER (keyed to an off-taker site, buy-only) and IPP (keyed to a generator site, sell-only). Explained in → V3 · Strategy
Book check
On trader Book · Outcomes, the strip under Procured against sold: in-legs, out-legs, uncovered out-legs, optional fan-out, and the warehouse badge (Σ sell ≤ procured or Sold more than procured). Distinct from a chain's own book-check strip, which repeats the month warehouse under one opened path. Explained in → V6 §6A.9 · chains V6 §6B.8
Book Explanations
The right-hand drawer on the trader Book tab (#book-explanations-open). Same chrome as Overview Explanations: opens right, green header, X top-right. How to Read the View and the A–Z list change with the mode — Rules, Forecast, or Outcomes. Close with the X, the backdrop, or Escape. Explained in → V6 §5.8 · V6 §6.8 · V6 §6A.4
BRP
Balance Responsible Party — the registered party financially accountable for the gap between its market schedule (and System Operator instructions) and its metered actuals. One registration per organisation; may balance many books; submits day-ahead and intraday bids for those books' residuals. Explained in → V9 §1.3 · V9 §3 · V10 §5
Cavitation zone
A band of megawatts a hydro or pumped-storage turbine may not be held at, because vapour bubbles form and collapse on the blades there and erode the metal. Not a preference — a forbidden output range, listed in ascending megawatts and never overlapping, so a scheduler can walk them and a schedule that lands inside one is a schedule that damages the machine. Explained in → V9 §3.7
Capacity cover
On OffTaker Sites, how much of a site's average demand in the latest metered month could be met by booked physical supply, in megawatts, capped at 100 %. Agreed, signed and active physical PPAs count. A virtual PPA does not. The column is Capacity cover · est. A dash means the figure is unavailable. It is not a measurement of energy delivered. Explained in → V5 §2.1.1 · portfolio tile V5 §2.1.3
Capacity qualifying
How many megawatts of your contracted reserve actually earn a capacity payment in a Trading Period (§9.8.3). Normally the headroom your schedule left — you cannot stand ready with capacity you are already using. Two exceptions: if the reserve was utilised you qualify the full contracted amount, because utilisation is not a penalty; and if the category's band condition failed you qualify zero, with no fallback to the contracted amount. Explained in → V9 §13.5
c/kWh
Cents per kilowatt-hour — the usual small unit for an electricity price on this platform. 96 c means 96 cents for each kilowatt-hour. Ten c/kWh = 1 R/MWh. Distinct from a monthly Rand total. Explained in → V5 §2.1.1 · V5 §8
Capture rate
Accepted ÷ offered volume across the book's bids — how much of what you bid the market took. Distinct from IPP Overview generation-hour value, which compares the plant's generation hours to the average market hour. Explained in → V9 §4
Carbon credit
1 tCO₂e of verified avoided or removed emissions, issued only against a registered offset project. Distinct from a REC (1 MWh of renewable electricity) and from an avoided-emissions report. A tax pack may surrender a COAS-listed credit; it cannot mint one from a REC. Explained in → V0 §10 · V19 · Carbon
Carbon participant
An organization an operator has admitted to the carbon side of the platform: the carbon market, certificates and the carbon-tax pack. You apply from the Organization tab; the application waits as Pending approval (you may withdraw it) until an operator activates or refuses it. Explained in → V2 §2.5 · operator side V11 §12
Carbon tax
The emitter's section-6 liability under the Carbon Tax Act. The platform computes, evidences, assembles and exports the July pack; it never holds SARS eFiling credentials and never submits. Explained in → V0 §10.3 · V20 · Carbon Tax Compliance
COAS
The Carbon Offset Administration System — the South African list a carbon credit must be on before a surrender can reduce carbon tax. A COAS holding in Certificates is not yet a surrender. The Tax room counts a surrender only when the retirement evidence is recorded. Explained in → V20 §6 · V19 §21
Cascade runs dry (allocation)
See Where the cascade runs dry. Not the market debit-note cascade.
Cash at risk
On the IPP Curtailment claims tab, claimed Rand minus provisional payment on rows still LODGED, PROVISIONALLY_PAID or DISPUTED — money you have asked for that is not yet closed. The tile is #claim-total-cash-at-risk. A DRAFT is not yet at risk on this tile (you have not filed). Distinct from Unrecovered (closed files) and from Annual exposure (the site-year estimate). Explained in → V4 §10.7
CAT (Central Africa Time)
UTC+02 with no daylight saving — the same offset as SAST. SAPP day-ahead gate is 09:30 CAT. Not a second timezone database. Explained in → V0 §9 · V18 §2
Certified reserve capacity
How much reserve the System Operator has agreed a unit can hold — Regulating, Instantaneous, Ten-Minute and Synchronous Condenser Operation (§7.2(q)–(t)). Not self-declared: each carries an SO certification reference and an effective date, and until it is certified the capacity is 0.000, which forces every availability indicator in every submission to U. Revocable, forward only. Decided on the SO Registry queue. Explained in → V9 §3.7 · V12 §6
Certainty equivalent (CE)
What a risky market price is worth to you : CE = P50 − λ × (P50 − P10) . Compared against a fixed bilateral offer → hold for market / marginal (within 5%) / sign bilateral . Explained in → V10 §12.3.9 · V3 · Strategy
CfD (Contract for difference)
The virtual PPA's settlement formula: pay or receive (strike − reference) × volume. On Eskom Virtual Wheeling the reference is the WER credit rate applied to consumption. Explained in → V7 §9 · V0 §5.2 · V8 §14
Check meter
The independent second meter used to verify the main meter. On a generator site it checks the revenue meter. On OffTaker onboarding it is optional: a number, manufacturer and model beside the demand meter. Creating the site writes a check-meter device when that number is present. Explained in → V2 §6 · V5 §2.2
Chain reconciliation
A cross-PPA check that volumes and trader margin still add up across an IPP → trader → off-taker (or similar) commercial chain for a period. Distinct from BRP ↔ MO settlement-file matching. Explained in → V3 §5B · V8 §10
Claim set
All physical and virtual claims on one generator, settled together so the same energy is never sold twice. Explained in → V8 §5 · V0 §4
Classification (recon)
Per line: MATCHED , WITHIN_TOLERANCE , VARIANCE (flagged, hinted), MISSING_MO (you have it, they don't), MISSING_INTERNAL (they bill it, you have no record). Explained in → V9 §8
Clip
An open-position clamp: the hour's bid volume cut to the book's OPEN_POSITION_MW limit, cheapest rungs kept. Logged and shown on the Bid Desk's clip strip. Explained in → V9 §4
CO (Contractual Obligation)
What each off-taker will actually receive — its ED pushed through the waterfall against FG. Never exceeds ED. Explained in → V4 §8.1.4
COD
Commercial Operation Date — the day a generator site went (or goes) commercially live. With the site's lifetime it fixes the end-of-life date. Explained in → V2 §4
CODEX-S12-ISOLATION
The one-day Scenario Lab recipe (typically 25 Aug when as_of is in July) used only to prove Teardown deletes that cook's rows and leaves every other desk unchanged. Explained in → V14 §8
CODEX-S12-WARM
The three-day Scenario Lab recipe (the 10th–12th of the month after as_of) that setup actually drives so you can open a finished cook without waiting for a thirty-one-day run. Explained in → V14 §7
Collateral Reserve Account
Where the cash element of your posted credit cover sits: in the Market Operator's sole name, designated to you, subject to a first fixed charge in the Market Operator's favour as trustee for market creditors. Your money, and you cannot withdraw it — cover you could take back at will would be cover only until the moment it was needed. Interest still accrues to you. Explained in → V9 §3.16
Combined fleet
On IPP Fleet chapter 03, the one-month VaR-95 of the organisation's plants scored together on the same made-up months, so a good hour at one plant can offset a bad hour at another. Distinct from sites added together, which adds each plant's own VaR. A shorter combined bar is the model saying the plants offset one another. Explained in → V4 §2
Comment window
The month §9.5(7) gives participants to respond to an amendment to the scheduling algorithm before it takes effect. One full calendar month, not thirty days — so an amendment published on 31 January opens a 28-day window and one published on 1 February does too, and both are a month. The algorithm decides who runs and at what price; a participant that learned of a change from its settlement statement was given no opportunity to respond at all. Explained in → V9 §17
Commercial log
The separate electronic record the System Operator must make when it instructs a non-dispatchable unit under an emergency or a load-reduction need (§11.4(5)). The duplicate is what makes the curtailment an instruction for settlement: with it the reduction is priced at the unit's own offer, without it at the balancing price on the whole shortfall. A distinct record, not a flag — the point is that it can be reconciled against the dispatch log. Explained in → V12 §3.6
Conditions precedent (CP)
Checklist items that must be true before a virtual PPA can start flowing money (grid agreement, VWA registration, metering, insurance certificates, and similar). Outstanding CPs set the earliest start date — a schedule risk, not a price term to haggle. Explained in → V7 §3.5a · V7 §4.7
Conformance checklist
The thirty-five requirements a build must meet to be Code-conformant across the seven target chapters. Each row maps to the tests that discharge it and the build fails if a row has no test behind it — including when the test it rested on is renamed in an unrelated refactor. A checklist that cannot fail is decoration. Explained in → V9 §17
Consolidated setup
The deterministic demo dataset — `mix wb.setup --profile full_demo`, seed 42 — that every follow-along callout and worked example binds to. All demo seats share the password documented in the setup CODEX. Explained in → V21 §4 · V0 §7
Conserved
On IPP Allocation → Outcomes, the month (and each settled hour) balances: Σ allocations + surplus equals metered generation within 1 kWh. The badge reads Conserved or Conservation error. Rounding residue from 3-decimal kWh storage is assigned to surplus so a member's figure is never nudged. Distinct from the settlement ledger's Σ = 0 money proof. Explained in → V4 §9.4
Contracted Energy
The energy scheduled in the most recent intraday iteration (§13.3(3)) — not the day-ahead schedule. It is the baseline every balancing deviation is measured against once the day is delivered, so a unit moved at 12:00 is judged against 12:00's number and not against yesterday's. Explained in → V9 §5.7
Contracted ratio
On Book · Forecast, sold supply ÷ all supply for the picked run (the inverse of Spill %). The Margin tile prints it next to Margin@Risk. Explained in → V6 §6.12
Credit Call
The Market Operator's draw-down on Posted Credit Cover (§15.10.4(1)). Notified by rapid means — email or fax — that the call was made, then separately with the amount, the sums called and the Billing Periods. Cover is re-established within two business days. Explained in → V9 §15.4
Credit Cover Increase Notice
Issued the same business day cover falls short; satisfied by 17:00 on the second working day (§15.10.2(2)). Two ways to satisfy it (§15.10.2(3)): post more cover, or pay an outstanding invoice early — which reduces Actual Exposure by the same amount, so the requirement falls rather than the cover rising. For a participant short of cash, that is the difference between answering a call and defaulting on one. Explained in → V9 §15.4
Credit Cover Provider
Whoever stands behind your non-cash credit cover. Must be a bank with a South African banking licence, or an international bank authorised to provide banking services in South Africa — nothing else qualifies, because cover has to be callable on demand on the day the participant it covers has stopped paying. Lose one and you have ten business days to appoint another. Explained in → V9 §3.16
Credit note
A numbered Eskom billing document that pays money out — on Virtual Wheeling, the month's consolidated WER to the account holder. Immutable after issue; corrections are a new version or a further credit/debit note, never an in-place edit. Explained in → V17 §6 · V17 §8 · V15 · Billing
Cron (Oban)
A scheduled background job in the platform crontab (SAST). The operations catalog lists every entry with cadence, observable effects and failure modes. Explained in → V21 §3
Corridor
The assumed (or, later, declared) capability between two adjacent network zones — how many megawatts may flow in the listed direction. The Model card's Export / Import totals add only corridors written from / to that zone. A blank side means none were listed that way, not that the wires are unconstrained. Reverse capability sits on the pair and does not fill the blank. Explained in → V12 §2.5 · V12 §2.6
Constrained scheduling model
The System Operator's published network model: the areas the grid is divided into and how much power can move between them. Due three months before the market opens; not yet published, which is why the zone map in use is provisional. On the SO console it is the Model tab of /so/network-model; the JSON is the API tab. Explained in → V12 §2 · V12 §5
Constrained purchases payment (CPP)
What you are paid when the constrained schedule moves you up from the unconstrained one — struck at your own offered price across the increment, not at the market price. The System Operator carries it, because it is the cost of the System Operator's network limit rather than anything the market did. Explained in → V9 §13.4
Consumption explorer
The meter history on a site's Operations page. The directory Meter action opens that page. TOU-stacked bars drill months → days → 20-minute intervals (All months marks high season Jun–Aug vs low season; the day view shows the weekday beside the date). The numbers sit under View energy data and choose a month. The Reads tab is the coverage heatmap. Explained in → V2 §7.2 · V5 §3.2
Constrained sales charge (CSC)
What you are charged when the constrained schedule moves you down — struck at your own offered price across the reduction. A renewable that offered R0/MWh is charged R 0.00 to be curtailed and keeps the full energy payment for the volume it was originally scheduled to produce. That is deliberate in the Market Code, not a defect: the charge is the participant's own price, and a unit with no fuel cost offers zero. Explained in → V9 §13.4
Content hash
A SHA-256 fingerprint of the contract's commercial terms, bound to each signature. Both signatures must carry the same hash to advance to SIGNED — proof of what, exactly, was signed. Explained in → V7 §5
Contract type
The shape of a physical deal's energy promise: AS_GENERATED (take what the plant makes), FIRM (guaranteed profile), CAPPED (as-generated to a ceiling), BASELOAD (flat block), TOP (take-or-pay minimum), SHAPED (TOU-shaped profile). The buyer picks from the seller's supported shapes; the choice prunes which term families exist. Explained in → V7 §1
Counterparty BRP
The party on the other side of the energy at one metering point — one sells through it, one buys through it. Derived from your signed PPAs rather than typed in; a trader in the middle is the counterparty at both ends. A point with no counterparty cannot be settled, and none is ever invented to fill the gap. Explained in → V9 §3.4
Co-optimisation
Scheduling energy and the four reserve categories in one problem rather than energy first and reserve after. Holding headroom is a claim on the same megawatts as selling energy, so a reserve requirement genuinely changes the energy schedule: a cheap unit at its full rating has no headroom left, and meeting the requirement means backing it off and paying a dearer one. Solving in sequence is not merely more expensive — it can be infeasible. Explained in → V9 §4.15
Constrained schedule
The second of the day's two clearings: the same model plus the System Operator's security limits. It is what the system is dispatched from, and it is not what sets the price. Where it differs from the unconstrained schedule, the difference is compensated at the unit's own offered price and charged to the System Operator — which is why being curtailed by the SO is free and re-declaring your own capacity down is not. Explained in → V9 §4.14
Contingency Reserve
The one reserve category with no market. The System Operator sets a probabilistic requirement and the Market Operator reports whether enough capacity remains after energy and reserve scheduling. It is never scheduled, never contracted and never produces a settlement line — the adequacy report is the whole of it. Explained in → V9 §4.15
Cost above Energy Market
What a unit is paid for holding Regulating Down reserve: `its own incremental price − SMP`, floored at zero. A unit held above where it would rather be, so it has something to reduce, is carrying a cost equal to the gap between what it is producing at and what the market pays. The mirror image of the cost of lost opportunity. Explained in → V9 §4.15
Cost of lost opportunity
What a unit is paid for holding up-direction reserve: `SMP − its own incremental price`, floored at zero. Holding capacity back forgoes the infra-marginal profit it would have earned selling that energy. It is zero whenever the unit holding the reserve is also the unit setting the price — which is why an uncongested hour lands every reserve price on its floor. Computed per unit and never published to anyone else: it reveals the unit's own cost curve. Explained in → V9 §4.15
Cost increment
One step of a trading unit's offer curve: the price per megawatt-hour it wants for the next slice of output. A production curve has five (CI0–CI3 plus Emergency Level 1); every market money formula that says "the incremental price offered" is the area under these steps. Explained in → V9 §9
Cover (directory tile)
The fourth OffTaker Sites fleet tile: committed megawatts (AGREED PPAs plus SIGNED and ACTIVE contracts, physical and virtual) against last month's average metered megawatts, plus how many sites have no contract. Distinct from engine Coverage % and from Overview Coverage. Explained in → V5 §2.1 · committed capacity
Coverage %
Delivered energy ÷ demanded energy. On the trader Overview it is a Structural position gauge (COVERAGE_PCT). On the OffTaker Overview it is the Own Load hedge share from the latest snapshot. It is not the directory Cover tile (MW vs MW). Explained in → V6 §4.2 · V5 §4.1 · V3 · Strategy
Cross-instrument counter
Answering a Pending proposal in the other instrument (Physical ↔ Virtual) from review Decide: disclosure, compose the other type, then Send — the original becomes superseded and stays linked. Requires the other instrument available for the pair and a material difference; depth capped at two hops; renewal budget inherited. Explained in → V7 §3.5e · V7 §1.1
Coverage quantile
The off-taker mirror of q*: Cu (grid − landed) ÷ (Cu + Co) . Uses non-negative mistake costs and stays between 0 and 1. Cu at zero means buy zero; positive Cu with Co at zero means q* = 1. It is computed from reference prices, not a fixed buying percentage. Overview draws it as the dashed Recommended contract (q*) line on the typical-day chart. Explained in → V5 §4.2.C · maths V5 §6.1 · V3 · Strategy
Critical quantile (q*)
Cu ÷ (Cu + Co) — how far up the residual distribution to nominate. Costlier shortfalls ⇒ higher q* ⇒ nominate above the median. Explained in → V3 · Strategy
CSF (Contract Sensitivity Factor)
Structural exposure of the buyer's chosen tier: PRIORITY 1.00 · FIXED 0.90 · PRO_RATA 0.80. Explained in → V4 · IPP (HAF factor 4)
Cu / Co
The optimiser's asymmetric costs: Cu (underage) = c/kWh cost of being short (top-up − buy); Co (overage) = c/kWh cost of being long (buy − spill value). Explained in → V3 · Strategy
Curtailment
An SO order capping a generator's output over a window. Emerges on the run as CURTAILMENT lines (a Phase-3C line kind) carrying the instruction that caused them. Recovering the energy that was ready is a separate curtailment claim. Explained in → V12 §3.2 · V4 §10
Curtailment claim
The dated commercial record for one ended curtailment (or a chain of replacements): instruction references, how deemed energy was estimated, the Rand claimed, the 48-hour lodgement clock, evidence, and later payments. An ended instruction creates the draft; you do not type a blank form. Lodging files that draft on the Review drawer Record form; the application does not email NTCSA by itself. Explained in → V4 §10 · V4 §10.4
Curtailment regime
Which recovery route a claim is on: CONGESTION_FRAMEWORK (dated wind congestion rules in the Eastern and Western Cape), SYSTEM_EVENT_PPA (the PPA buyer already pays deemed energy in settlement), or UNCOMPENSATED (no lodgement; the loss is still visible). Distinct from the physical instruction. Explained in → V4 §10.1
CV (Coefficient of Variation)
Spread divided by the average. On OffTaker Performance, Load variance prints it for midday weekday consumption: under 0.15 is low, 0.15 or above is high. Fewer than 60 settled days adds thin. With no meter history the line says no meter history. Explained in → V5 §4.1.C · drawer V5 §4.11
Data Query
The first tier of challenge (§15.4.1, §15.4.2), raiseable only during the Data Verification Period — the seven working days after the Indicative Settlement Statement. About the data: a meter reading, a dispatch instruction, an availability figure. The Market Operator resolves within 10 business days, endeavouring within 3; unresolved, it becomes a Settlement Dispute unless the participant grants up to 10 more. Explained in → V9 §15.5
Data Verification Period
The window in which a participant may query the data settlement used (§15.3.4(1)(b)) — seven working days, where metering is verified in seven calendar days. Across a long weekend the two invert, so the window is held open until at least one business day after official prices publish rather than closing before they exist. Explained in → V9 §14.5
Data vintage
Which version of a metered figure this is: provisional (from the day after, never invoiced), verified (within seven days, what official prices and statements are built on) or revised (later, from a query, dispute or meter test, feeding a rerun). Carried on every figure and on the API response header, because a number stored without its vintage has lost the distinction reruns exist to reconcile. Explained in → V9 §14.3
Data-exchange document
The document §16(1),(2) obliges the Market Operator to maintain on its website, covering eight topics from communication channels and cyber-security to how rounding is managed and a generic specification of the algorithm. Published at /api/v1/publication/data-exchange, with its OpenAPI description generated from the running code so the published contract and the interface cannot drift apart. Explained in → V9 §17 · API catalogue V13 · Market API
Diversification benefit
How much lower fleet VaR-95 is than the sum of site VaRs: max(sites added together − combined fleet, 0). On IPP Fleet it is a KPI tile in How sure are we? and a note on the VaR tiles. A fleet of one shows R 0 (fleet of one). If the combined book looks riskier, the tile still shows R 0 (it never goes negative) while chapter 03 says the combined bar is longer. Explained in → V4 §2
Dispatchable shape
A representative hourly generation pattern for a plant whose output can be scheduled. It is a forecast assumption, not a unit-commitment instruction. Explained in → V4 §18
Heat rate
Fuel energy required per MWh of electricity, expressed in GJ/MWh. Multiplying it by a sourced R/GJ fuel price gives fuel cost per MWh. Explained in → V4 §18.5
Heat strip (unsold)
On the IPP Dashboard Chapter 4, the hour × month amber grid (#ipp-story-heat-chart) of leftover energy from 06h to 18h SAST. Darker cells hold more unsold megawatt-hours. A dashed box marks 08h–15h and the caption states that window's share of everything unsold. The hourly shape comes from the latest completed FORECAST run's SPILL lines, or a built-in daytime bell. Distinct from Overview's 24-hour Unsold profile, which is one typical day. Explained in → V4 §12.5.5
Hold option (Option 0)
The do-nothing choice that is row 0 of a desk's comparison. On the off-taker Procurement Desk it is stay on the grid: the uncovered block priced at the TOU rates, this year and by year 6 at the assumed escalation (V3 §13.2). On the Sales Desk, the baseline every deal is judged against: bid the unsold energy day-ahead on SAWEM, valued at the hourly P50 price for the unsold hours less a 5 % imbalance allowance, with P10 and P90 as the poor and good price years. Row 0 of the comparison. Explained in → V4 §6
Hybrid composition
A plant record that combines existing generation components and optional storage from the same organization under one connection limit. Explained in → V4 §18.3
Market Bank
The one bank where the market's three settlement accounts live — Trading Clearing, Collateral Reserve, and Market Operator Charge — all in the Market Operator's name. Explained in → V9 §3.16
Market Month
The organisation's Billing Period wallet after the tickets — sidebar After Delivery at /org/brp/after-delivery/month. The month tiles, the till, the settlement statement, query clocks, and the monthly file-join against the Market Operator (the old Recon tab). Settlement and Imbalance are Bid Desk rooms for one Trading Day and one Trading Unit. You do not bid here. Cash still moves on Accounts. Explained in → V10 §13
Market Operator Charge Account
Where the Market Operator's own fee income sits, ring-fenced. Its balance may never be applied to a shortfall or an unsecured bad debt (§15.3.4(6)) — if it could, the Market Operator would be underwriting the market it referees. Explained in → V9 §3.16
Market Operator (MO)
The independent party that runs SAWEM: admits Balance Responsible Parties, publishes MarketRules and gates, clears day-ahead and intraday auctions, publishes schedules and the System Marginal Price, holds credit cover in trust, invoices market charges, and administers market settlement queries and disputes. Distinct from the System Operator (wires and dispatch) and from bilateral PPA settlement. Explained in → V9 §1.5 · V10 §2 · V11 §1 · V11 §12
Market API
The SAWEM HTTP interface under /api/v1 (plus /internal for MO↔SO), described by live OpenAPI at GET /api/v1/publication/openapi. External BRPs and Network Operators call it; the Webill UI and Oban BRP workers use domain modules / MoGateway instead — each operation's chapter states the caller. Explained in → V13 · Market API
Debit Note
How Unsecured Bad Debt is collected: each non-defaulting creditor's Self-Billing Invoice is reduced by its share of the debt (§15.3.4(10)). Shares are pro rata to total payments in the month (§15.7) while collection is against the self-billing invoice — two different bases, which is what creates an Excess Participant. Explained in → V9 §15.3
Debit Note Excess
The part of a debit note that exceeds the Self-Billing Invoice it was to be collected from (§2.1(86)). Paid in cash within two business days. In the worked month a creditor owed R60 000 receives a R100 000 debit note, gets nothing, and sends R40 000 back to the market. Explained in → V9 §15.3
Defect switch
One of the eight places where Market Code Rev 2.3 admits two defensible readings and the platform makes the choice a setting rather than code. When the Market Governance Committee decides, the market changes by configuration on a day the committee chooses, with the size of the move already measured. Explained in → V9 §17
De-loading ramp
The rate at which a unit comes down from its maximum toward its minimum, in MW per hour (§7.2(o)). One of four registered rates; it governs Instructed Energy on a down-instruction, and it is often not the same number as the loading ramp. Explained in → V12 §3.3
Declared Available Capacity (DAC)
What a Trading Unit says it can produce in a given Trading Period, as distinct from the standing rating it registered. For a non-dispatchable renewable the DAC is the commitment — a forecast that becomes a promise — which is why the forecast question and the registration question are different questions. Explained in → V9 §3.7
Designation
The label inside a shared Market Bank account that says which slice of the money belongs to which participant (§15.2(2)). One real bank account, many labels — you do not have your own Trading Clearing Account; you have a designation inside the market's one. Explained in → V9 §3.16
Declared Consumption (DC)
What a consuming Trading Unit says it will draw in a given Trading Period — per period, not a monthly or annual figure, because that is the grain at which everything else is settled. The top of the willingness-to-pay ladder: everything the market may curtail is measured down from it. Explained in → V9 §3.7
DAM / IDM
Day-Ahead Market (bid all 24 hours of tomorrow — and the following six days, 168 periods — before the 10:00 SAST gate on D−1) / IntraDay Market (five smaller auctions that only move hours not yet delivered). The organisation screen is Bid Desk. Explained in → V9 §1 · V10 §12
DAM uplift
Market revenue net of the counterfactual (spill credit foregone / top-up avoided) — what participation actually added. Decomposed as recovered spill + avoided top-up on the MARKET panel. Explained in → V9 §4
Day factor
A scenario's per-day generation/load multiplier (default 1.0) — scripted weather. AUG-BASELINE's cloudy spell is solar 0.35 on 12–14 Aug. Explained in → V3 · Strategy
Dead letter
A webhook delivery that could not be completed: eight unsuccessful attempts, an immediate refusal (including HTTP 410), a 72-hour abandoned retry, or a disabled subscription. Previous attempts stay on the Timeline. Retry starts a new schedule. Five consecutive dead letters pause the subscription; resume is a human action. Explained in → V21 §11.1
Deal type
Who sells to whom: IPP→Off-taker (IO), IPP→Trader (IT), Trader→Off-taker (TO), Trader→Trader (TT). Each exists physically and virtually — eight cells in all. Explained in → V0 §3.2
Dealbreaker
A gap-analysis verdict: the offered term is beyond your private walk-away. It is a warning you can override with acknowledgement — unlike an impossible ask (wrong contract type, oversaleable capacity, term past plant life, below-LCOE), which blocks accept outright. Explained in → V7 §3.5b
Decline finding
A structured reason attached when you decline a proposal: which term failed, your preferred target (never your walk-away), and whether you share it. Impossible asks are always shared so the next attempt is not identical. Explained in → V7 §3.5d
Deemed energy
Energy that was ready but undelivered because of a curtailment, valued at the member's energy price — 17 110 kWh × 65 c = R 11 121.50 in the worked example. Who pays is the treatment's question. On an IPP claim it is potential output minus the greater of metered output and the instruction cap, never below zero, and never the plant's own failure to reach the cap. Explained in → V4 §10.2 · V12 §3.2
Default Notice
The notice that starts the clock on a default. It must say what the default is, how long you have to fix it — at least two business days, often more — and anything else the Market Operator reasonably requires. You are still trading while it runs. Explained in → V9 §3.14
Default Retailer
The supplier the Market Governance Committee directs to meet a suspended demand-side unit's load. Until one is named, a suspension of that unit cannot take effect at all — suspending a load does not stop it, and somebody has to be settled for the electricity that keeps flowing. A retailer is deliberately not a market participant, and exists in the register for exactly this. Explained in → V9 §3.14 · MO board V11 §21
Degradation cost
c/kWh of warranty wear per discharged kWh (default 15) — subtracted from every candidate pair's spread so cycling is never treated as free. Explained in → V3 · Strategy
Demand served by contracts
The first OffTaker Sites fleet tile: the load-weighted share of last month's metered use on live sites that committed contracts can cover, capped at 100 %. Uses a book COVERAGE_PCT snapshot when one exists; otherwise committed MW ÷ metered MW. Not a delivery promise, and not Overview Coverage %. Explained in → V5 §2.1
Deregistration
Removing a Trading Unit, or a whole party, from the register — on application and by consent order. The row survives: the TUID is never reused, and the unit keeps its Fixed Credit Requirement until the last Settlement Rerun for the day it was deregistered. Explained in → V9 §3.15
Dispatch instruction
Not "reduce output" but three things together: a level, a time and a ramp rate (§13.4.1(1)). The energy the market credits you with is the area under that ramp, not a step change at the instruction time — so an instruction to be at 480 MW at 18:20 at 8 MW/min begins its ramp at 18:18.125, and those minutes are yours. Explained in → V12 §3.3
Dispatch interval
One persisted hour of a run's battery schedule (charge/discharge kWh, source, cost, value, spread, SoC after, rationale) — the audit trail behind the BESS views. Explained in → V3 · Strategy · hour table V6 §11.11
Dispatch-algorithm formulation
The published statement of what the scheduling algorithm optimises and under what constraints — the objective, the eighteen constraint families with their clauses, and the tie-break — which §9.5(7) obliges the Market Operator to publish and maintain. Published as data rather than described in prose, so the artefact and the thing that runs are the same object. Explained in → V9 §4
Dispute case
A flagged line escalated to the MO: DRAFT → SUBMITTED (with its evidence pack) → RESOLVED or WRITTEN_OFF. The BRP's kanban and the MO's inbox are two views of the same case. Explained in → V9 §8
Dispute item
One figure under negotiation on a bilateral settlement dispute: what settlement said, what is currently offered, who offered it, and whether it is agreed. Turn-taking is the contract wizard's — the party who did not propose the value on the table is the one who may approve it, and countering means proposing your own. No dispute resolves while any item is still pending. Explained in → V8 §11.9
Money grade (settled · invoiced · estimated)
The confidence label on every month of the IPP Dashboard story: settled and invoiced months come from the Money Room fact base; estimated months are rebuilt from allocation runs, meter registers and contract prices. The verdict card How sure is this story shows the share of months in each grade. The grades measure the same money at different stages, so they are never added: each month's value stream counts once, at its best grade (invoiced, then settled, then estimated). Explained in → V4 §12.1.5 · V16 §3
Money Room
The organisation energy profit-and-loss page at /org/money (currency icon in the organisation sidebar). A connected overview shows the energy result, monthly performance, site and pool contributions, payment obligations, and losses with next steps. Month, Year to date and Rolling 12 months share the same layout. Performance scope filters attributable energy facts; savings (buying sites only), payments and losses remain organisation-wide. What is owed and owing is read from the organisation's side of each document, as on the Billing Hub. It is not a claim-filing screen and it does not show Annual exposure. Panel 4 (Loss Ledger) may list Unrecovered curtailment as a period leftover from finalized claims. Explained in → V16 §7 · IPP relationship V4 §10.5
Registry twin
The market registry projection of a plant’s engineering facts. Its provenance distinguishes captured facts, assumptions and missing answers. Explained in → V4 §18.2
Resolution digest
A hash of a dispute's agreed figures plus the chosen outcome, stamped when every item is agreed and quoted back on each sign-off. If anything about the agreed set moves in between, the sign-off is refused — the settlement counterpart of the proposal rule that you cannot be bound to a price you never saw. Explained in → V8 §11.9
DLF
Distribution loss factor: kwh_delivered = kwh_sent × DLF . Buy on sent, sell on delivered. Explained in → V3 · Strategy Physical-PPA loss values are stored as loss fractions: 0.02 means 2% loss. Enabled distribution, transmission and municipal losses are combined; the delivery multiplier is 1 minus their sum, so 2% + 1% + 3% leaves 0.94 delivered. A loss fraction must not itself be used as the delivery multiplier.
Driver
The sim clock loop: walks the scenario's days calling the real cycle functions (DAM build → clear → SO events → IDM → imbalance) with a simulated clock, then publishes + reconciles the month. Seconds, deterministic. Explained in → V3 · Strategy
ED (Expected Demand)
What each off-taker will realistically ask for next month: min(historical allocation, contract ceiling) . Explained in → V4 §8.1.1
Effective cost
The off-taker's blended supply cost per MWh consumed (grid + wheeled + virtual together). On Overview it is not a labelled tile — the price rail is the on-screen cousin. Explained in → V5 §4.9 · V3 · Strategy
Effective price (Forecast)
On Book · Forecast, the fourth tile: sold-line margin ÷ sold energy, in c/kWh. It ignores leftover supply. The same tile's realised R/MWh divides that margin by all generation. Distinct from the IPP TOU effective price. Explained in → V6 §6.12
Effective price (TOU)
Shape-weighted price under a TOU multiplier set: Σ generation × base × multiplier ÷ Σ generation. A flat set's effective price is exactly the base. Explained in → V4 §6.7.3
Elasticity (k)
MWh the residual market absorbs per 100% price move. Small k = thin market, big price impact; k = ∞ = the flat mock (no impact). AUG-BASELINE uses 500. Explained in → V3 · Strategy
Electrical node
The point on the network a metering point physically sits at — a substation busbar, in the System Operator's own naming (e.g. KENDAL-88kV-B1). It is what makes a pairing checkable: two parties are counterparties only if they have declared the same node. Explained in → V9 §3.4
Elbow point
A megawatt volume where an offer curve's price steps to the next cost increment. Exactly at an elbow the Market Code takes a different price depending on which clause is asking — four separate tie-breaks — so the platform makes the choice an explicit argument rather than a default. Explained in → V9 §9
Emergency Level 1 (EL1)
The output ceiling above a plant's maximum continuous rating, offered as the fifth and top block of its production curve — capacity the System Operator can reach only in a declared emergency. Priced highest, because running there is not sustainable. Explained in → V9 §4.8 · V9 §9
Emergency Operating Condition
A declared, audited system state — not a mood. It is what permits the System Operator to override a participant's contractual dispatch restrictions (§3.3(3)), and only then where the participant can comply within its statutory limits and with a report to NERSA. It is also one of the two grounds on which an instruction to a non-dispatchable unit must be duplicated into the commercial log. Explained in → V12 §4.6
Energy limit
A cap on how much energy an energy-constrained Trading Unit may produce — daily and weekly, submitted alongside the curve rather than registered as standing data, because the constraint moves with the water, the fuel contract or the state of charge. A unit that declares itself energy-constrained and submits no limit is rejected. Explained in → V9 §4.8 · V9 §3.7
Energy payment (EPM)
Your day-ahead energy money: scheduled volume × the System Marginal Price (§9.8.1). Struck on the unconstrained schedule, at the same price for everyone who cleared — your offer decides whether you clear, never what you are paid. Consumption is the same line with the sign flipped, which is why the energy pot sums to exactly R 0.00 across the whole market. Explained in → V9 §13.3
Env guard ( :sim_enabled )
The flag that makes simulation possible at all: absent in production, so a SimRun refuses to start and the Lab's route isn't compiled. The reason "can the sim touch prod?" is a category error. Explained in → V3 · Strategy
Equivalent full cycle
Discharged energy ÷ usable capacity. The warranty cap ( max cycles/day , default 1.5) is denominated in these. Explained in → V3 · Strategy
Error injection
A declared corruption of the MO's outputs only : republish_price → VARIANCE/PRICE, meter_bias → VARIANCE/METER, drop_line → MISSING_MO, phantom_line → MISSING_INTERNAL. How the reconciler gets something real to catch. Explained in → V3 · Strategy
Escalation
How a contract price grows over its term: CPI, CPI-minus, a fixed percentage, or an index — applied per calendar year at settlement and assumed by strategy valuations. Explained in → V7 §4.7
Eskom
South Africa's national electricity utility — generator, transmission system operator and distributor. Owns the reference tariffs, loss factors and use-of-system charges the platform applies, maintained through the Eskom app. Explained in → V0 §1
Eskom top-up
c/kWh cost of covering a demand member from the grid when the book falls short. Prices firm shortfalls, the optimiser's under-nomination cost Cu , and the battery's firm-backing value. Explained in → V3 · Strategy
Eskom trader accreditation
The Eskom paperwork an organization needs to trade wheeled energy on Eskom's network: the Trader Participation Agreement (TPA) and the Balancing & Settlement Agreement (BSA), each with its date. It counts only when both agreements are ticked and dated; the Accreditations tab shows a Complete or Incomplete chip. Explained in → V2 §2
The widest plant-feed read grant: the grantee may download a curtailment trace (Download evidence bundle) and also holds SAMPLES and LIVE_PANEL. A read grant never authorises a push. Formerly taught as V4 §20. Explained in → V4 §11.7 · traces V4 §11.6
Evidence bundle
The sealed CSV pack for one curtailment claim version: the instruction, curve, weather and meter snapshots used to compute deemed energy, plus a SHA-256 fingerprint of those exact bytes. Distinct from a market-dispute evidence pack. Preparing the bundle freezes that version; later weather edits do not rewrite it. Explained in → V4 §10.3
Evidence pack
The dispute's auto-assembled references — line, period, charge type, variance, hint. Assembled, never authored; the artefacts already exist in the platform. Explained in → V9 §8
Excess Participant
A creditor whose debit note exceeds what it was owed, so it must pay the balance in cash (§15.3.4(11)). Structurally a net buyer: it pays a lot into the market and is owed little, so its share of somebody else's default outruns the payment it was expecting. Not an error and not rare — budget for it. Explained in → V9 §15.3
exhaustion strip
See Where the cascade runs dry.
Excused (imbalance)
An hour whose deviation was SO-instructed: charge R 0, shown with the counterfactual (what it would have cost) so the excusal's value stays visible. Explained in → V12 §3.2
Execution risk (netting)
The imbalance exposure a netted-away leg would have carried as a separate order — 2.00 MWh × R 1 850 = R 3 700 /hour in the worked example. The main prize of netting. Explained in → V3 · Strategy
Fan-out
On trader Book · Outcomes, the book-check prefix when one or more sell legs sit outside any linear chain. The statement still owns those sells; Chains only walks IPP → trader → sink paths and keeps one next hop. Explained in → V6 §6A.9 · V6 §6B.8
Feed
A named pathway into or out of the platform — one provider, one family, one grain, one mode, and an effective-dated freshness policy. Each try is an attempt; live status (NEVER / FRESH / STALE / REFUSING) is derived from last success and that policy. MOCK and MANUAL modes never pretend to be live. Explained in → V21 §11
Feed family
The kind of thing a feed carries: METER, TELEMETRY, WEATHER, PRICE, FX, REGISTRY, BILL, MARKET, or EVENT. PRICE is reserved (no registered pathway). Plant TELEMETRY is not a settlement meter. Explained in → V21 §11
Feed grain
The size of one reading on that feed, in minutes (20-minute meters, 60-minute weather). A dash means the feed is not interval-shaped. Grain belongs to the feed — a meter does not redefine a forecast. Explained in → V21 §11
Feed mode
How the pipe is allowed to run: LIVE (freshness is derived), MOCK (practice data; badge stays MOCK), or MANUAL (a person must act; badge stays MANUAL). Explained in → V21 §11
Feed policy
The effective-dated rule for “still current”: a freshness window in seconds, an optional quota, and a source note. A live feed with no policy is already STALE. Defaults: 2,400 s for meters, 21,600 s otherwise. Explained in → V21 §11
FG (Forecasted Generation)
Next month's predicted generation: a weighted blend of the last two HAG months (seasonally normalised) and SM. Explained in → V4 §8.2
Fill order
On a Virtual Wheeling account: in each quarter-hour, pour fleet generation into the meter with the most uncovered consumption first, up to what that meter used, then the next, until generation runs out. Ties break on member id so a re-run is identical. Nothing carries across quarter-hours or TOU windows. Explained in → V17 §5 · V17 §8
First fixed charge
A legal lock on money in the Collateral Reserve Account: it cannot be paid away until the person holding the charge is satisfied. The Market Operator holds it as trustee for market creditors — not for its own benefit — so the deposit is callable on the day a participant stops paying. Explained in → V9 §3.16
Firm demand
A demand pool that must be served: covered from FIRM supply first, before open demand; shortfalls priced at grid top-up. Explained in → V3 · Strategy
Firm verdict
The viability card's outcome: ✅ Accept (expected margin > 0 as-generated) · 🔋 Needs storage (negative as-generated, positive with the battery marginal) · ❌ Decline (negative either way). Explained in → V4 §6.8.1 · V4 §6.8
Fit score
0–100 cosine match between a candidate's 24-hour shape and your gap (buy) or surplus (sell), both in SAST hours. Explained in → V3 · Strategy
Flexible indicator
One character per Trading Period, F or I, and the most consequential single character on a submission. F lets the market schedule you anywhere between Mingen and your declared capacity, and lets your offer set the System Marginal Price. I means you will be scheduled at exactly your declared capacity — a commitment, not a ceiling — and your offer cannot be price-setting. A forecast declared I has become a promise. Explained in → V9 §4.9
Forecast said, book settled
On trader Book · Outcomes, the drift card (#book-drift): P50 margin at forecast time against the settled net margin, last six months. A twelve-month snapshot is scaled to one month before the compare. The gap is forecast error you are paying for. Distinct from IPP Allocation Forecast vs settled. Explained in → V6 §6A.13
Forecast vs settled
On Allocation → Forecast, the card Forecast said, settlement did (#forecast-vs-settled): last month's live forecast carve against what Outcomes allocated, buyer by buyer, plus Surplus. Empty copy: Needs a forecast for last month and a settled month to compare it with. Distinct from the trader Book · Outcomes drift panel Forecast said, book settled. Explained in → V4 §8.1.8 · V4 §9
Forgone / never offered
Unsold generation valued at a stated baseline — on the IPP Dashboard, the SAWEM day-ahead P50 for 08h–15h less a 5 % imbalance allowance. It is money nobody was offered, not a bill and not a subtraction from Net. On Monthly Money it is the amber band below zero. Distinct from cost of generation (LCOE), which is what it cost you to make the energy. Explained in → V4 §12.2.3 · losses V4 §12.5 · valued V4 §12.5.3
Fulfilment
On Allocation → Forecast, CO ÷ ED for one buyer in the month-ahead carve. 100% means this forecast expects to serve their full Expected Demand. Colour: green at or above 99.5%, amber from 75%, rose below. The settled cousin on Outcomes is ARF. Explained in → V4 §8.1.4
GAF (Generation Availability Factor)
Can the plant physically cover its promises? Recent generation ÷ subscribed demand, capped at 1. Explained in → V4 · IPP (HAF factor 1)
Gap analysis
Per-field comparison of what the other party offered against your negotiating brief: acceptable, worth pushing back on, dealbreaker, or not stated — with annual Rand cost on price gaps where volume is known. Infeasibilities (physical impossibilities) are listed separately and always block. Explained in → V7 §3.5b
Gate closure
The submission deadline: DAM at 10:00 SAST the day before delivery; IDM at delivery − 60 min, per hour. Both come from the market rules, not from code. Acceptance is judged against the gate in force at the moment of receipt, so an extension granted later cannot resurrect a rejection already returned — and the clock the desk shows is the server's, never the browser's. Miss it and you get a rolled-over submission, not nothing. Explained in → V9 §4.10 · V9 §1
Gate miss
A bid built after its gate: expired unsubmitted, counted on the MARKET panel, and raised as a critical alert. Should be zero. Explained in → V9 §4
Gen-wheeling rate
The c/kWh rate Eskom uses to price matched Virtual Wheeling energy for a meter's tariff category and time-of-use window (Peak, Standard, Off-peak). Same family as the WER credit rate; a Nightsave meter has no peak window. Explained in → V17 §4 · V17 §1
Generation-hour value (capture)
On IPP Overview, the historical market price of the hours this plant generated, as a share of the average market hour (captured R/MWh ÷ baseload R/MWh). Distinct from Bid Desk capture rate (accepted ÷ offered). Not this forecast run's contracted earnings. Explained in → V4 §4.4 · maths V4 §19
Generator Curtailment
A limit on the Active Power a Trading Unit may generate, imposed for a network or system constraint (§2.1(96)). For a non-dispatchable unit it is the case where the commercial log decides whether the participant is compensated or penalised. Explained in → V12 §3.6
Generator site
An independent power producer's (IPP's) plant — the sell side. Carries technology, capacities, TOU split, grid connection and its meters. Explained in → V0 §3
Generator site status
The shop-front badge on an IPP Sites card: Open (registered, not yet marked operational), Active (live), Inactive (taken off the floor, record kept), or Closed (no new activity). Activate writes Active; Deactivate writes Inactive. Distinct from grid-connection status. Explained in → V2 §4.8
Global Allocation Hierarchy
An IPP's published, versioned ordering of its buyers into PRIORITY / PRO_RATA / FIXED tiers. When generation runs short, settlement carves the metered energy down the tiers in that order. Explained in → V4 §7 · V4 §7.9
Graph RAG
Answering a question by first walking the organisation's map of contracts, invoices and market days to collect only the relevant neighbourhood, then explaining that — instead of letting a model rummage and guess. The walk is org-scoped and month-scoped. Explained in → V16 §10
Green coverage %
Non-grid delivered energy ÷ total consumption — the REC-backed share of the site's load. On Overview it is the Wheeled + Virtual mix-bar share and a next-best-action when below 30%. Explained in → V5 §4.1.B · V5 §4.4.D · V3 · Strategy
Grid
The utility network that will sell you energy in any hour no PPA covers — in South Africa, typically Eskom or a municipality at the site\'s retail tariff. The off-taker\'s last-resort door. Distinct from a trader pool and from a wheeled PPA. Explained in → V5 §8 · V0 §1
Grid backstop
The off-taker book's synthetic supply member: infinite capacity, last in merit order, never spills, priced at the site's retail grid tariff per TOU (with escalation). Makes "what the grid would have cost" a first-class, priced participant in every hour. Explained in → V3 · Strategy
Grid-displacement profile
The off-taker's 24-hour vector of energy currently drawn from the grid backstop — what a buy candidate is fit-scored against. Explained in → V3 · Strategy
Grid escalation
The book's %/yr assumption for retail tariff growth (default 12). Compounds per calendar year on the grid backstop price; drives the 5-year divergence chart and the year-5 saving. Explained in → V5 §4.5 · wedge V5 §4.3 · V3 · Strategy
HAF (Historical Availability Factor)
Score in [0,1] — how much of your paper availability is bankable , given evidence. GAF × SF × ARF × CSF . Explained in → V4 §5 (capacity screen + factor maths)
HAG (Historical Actual Generation)
What the plant really made in a past month — metered kWh at the bus bar, summed monthly. Explained in → V4 §8.1.2 · V4 §5 (HAF inputs)
Hedge band
The soft 70–80% planning range for how much of an off-taker site's own-load demand should have a supply plan. Overview fires a next-best-action when snapshot COVERAGE_PCT is below 70%. The Own Load seed target (75%) sits inside the band; it is not a separate alarm. Explained in → V5 §4.4.E
HHI
Concentration index: sum of squared member shares (0 = diversified, 1 = single source/customer). On the trader Overview, Supply HHI and Demand HHI are the two meters on Concentration. On the IPP Overview, see revenue HHI. On the IPP Dashboard sources ledger it is the lifetime PPA-buyer figure in the Total earned row. Explained in → V6 §4.3 · V4 §4.5 · Dashboard V4 §12.4.7
Hour template
One (day-type, hour) slot of a nomination plan — e.g. "weekdays, 19:00" — expanded into every matching calendar day at submission. Explained in → V3 · Strategy
Idempotency-Key
The header a participant sends on every write, so a retry after a timeout returns the original answer rather than acting twice. The window is 24 hours — longer than the usual — because a retry across a gate boundary must not turn a rejection into an acceptance, nor an on-time submission into a late one. Explained in → V9 §12
Imbalance
Per Trading Period, the difference between what a Trading Unit contracted for and what its meters recorded. There is no single imbalance price: Market Code §13 settles it through eleven cumulative legs whose volume and price basis depend on whether the System Operator instructed you, and whether you stayed inside the 5 % Metering Accuracy Band. On the Bid Desk it is the weighbridge after the hour — not last night's auction receipt. Explained in → V10 §12.7 (the organisation screen) · V9 §6 (the decision tree)
Imbalance Energy Bought / Sold
The two market-wide volumes each Trading Period, summed across all Trading Units: Bought is Σ max(IE − AE, 0), Sold is Σ max(AE − IE, 0) (§13.2). Named from the System Operator's side of the trade, so a participant contributing to Bought is short and pays. A consumer taking more than instructed contributes to Bought, in the same direction as a generator that under-produced. The balancing prices are struck over these, never over one participant's own deviation. Explained in → V9 §6.4
Imbalance reserve
Battery charge held back daily as a buffer against forecast error: hold when avoided imbalance > forgone spread ( reserve × best spread ); on hold the min-SoC floor rises by the buffer (2.0 → 4.5 MWh in the worked example). Explained in → V3 · Strategy
Indicative Settlement Statement
The statement issued at 17:00 on the working day after a Settlement Day (§15.3.4(1)(a)). Not billable — it exists so a participant can check the data during the seven-working-day Data Verification Period, before it becomes billable (§2.1(102)). It carries the same line detail as the Initial Statement, because a summary would defeat its purpose. Explained in → V9 §15.1
Initial Settlement Statement
The billable statement for a whole Billing Period, issued at 12:00 five working days after the period ends (§15.3.4(1)(c)). Built on verified metering and official balancing prices; an initial statement raised on preliminary figures is refused. It is what the invoice is struck on. Explained in → V9 §15.1
Inputs hash
SHA-256 fingerprint of a run's inputs (book, scenario, period, members with all pricing terms, rules, forecasts, edges, battery parameters); equal hashes ⇒ identical, reproducible outputs. Explained in → V3 · Strategy
Instructed / uninstructed imbalance
The Phase-3C split of each hour's deviation: the part covered by an SO window (excused — charged nothing) vs the part that is your own forecast error (charged as before). Explained in → V3 · Strategy
Instructed Energy
The megawatt-hours a Trading Unit would have delivered had it followed its dispatch instructions exactly, ramps included (§11.4(11), §13.4.1) — the basis for every balancing payment. Computed by integrating the instructed trajectory over the period; published with the segment table so a participant can reconcile it, and disputable under §13.4.1(3) if it cannot. Explained in → V12 §3.4
Interval
The derived 20-minute energy quantity (wheeling consumption) that settlement, forecasting and strategy consume; rolled up into daily and monthly series. A person can also load intervals from a wb-interval-1 file. Explained in → V0 §3 · V2 §7.7
Intra-Day Price (IDP)
One iteration's price for one period: the volume-weighted average of the incremental prices of the on-instruction changes only, capped within ±5 % of the day-ahead System Marginal Price (§10(10)). A participant that re-declared its own capacity does not get to move the price it will then be charged at. Explained in → V9 §5.4
Intraday market (IDM)
Five auctions a Trading Day at fixed gates — 18:00 the day before, then 00:00, 06:00, 12:00 and 18:00 — at which a participant may re-declare its available capacity or consumption for hours not yet delivered (§10(1),(3)). Not a rolling window: a re-declaration at 17:00 cannot move 18:00. The organisation screen is Bid Desk → IDM. Explained in → V9 §5.1 · V10 §12.4.4
Invoice (SAWEM)
What a participant receives when it owes the Market Operator. Payable in full into the Trading Clearing Account by 12:00 three business days later, without deduction, set-off or counterclaim (§15.3.4(2)(d)). Anything less is a Shortfall — including a payment reduced by an amount under dispute. Explained in → V9 §15.1
IPP
Independent Power Producer — a private generator selling energy through PPAs rather than to Eskom alone. Explained in → V0 §1
IPP Fleet
The four-chapter story across every generator site the organisation owns: energy still to sell, who the fleet depends on, whether combining plants looks safer than adding them up, and three places to act. It does not allocate energy or place bids. Open it as the default Fleet tab of sidebar IPP Sites (/org/ipp-sites; /org/fleet still opens the same page); its top bar and header read IPP Sites. The numbers behind the story sit in right-hand drawers. The title-row Export CSV and Recompute now buttons photocopy today's KPIs / members / pair sources and reprint the fleet book; they are not one plant's Run Forecast Now. Explained in → V4 §2 · buttons V4 §2.6 · V10 §3
Iteration
One of the five intraday auctions, numbered 1 to 5 in gate order. Each produces a revised schedule published within an hour of clearing (§10(5)), its own Intra-Day Price per period, and its own settlement legs. Every iteration is kept on record, because a reversal at iteration 5 is measured against what iterations 1 to 4 covered. Explained in → V9 §5.1
Joint terms approval
The per-field negotiation loop on joint terms: a saved value goes PENDING (proposed by you), the counterparty approves (locks it) or rejects and counters. A physical contract can only be finalised when nothing is pending. Explained in → V7 §4
Knowledge graph
The platform dictionary, filled in with this organisation's actual contracts, invoices, sites and market days, connected so software can walk the connections. Stored as a typed edge table in Postgres, populated in the same run that builds the month's facts. Explained in → V16 §10
Landed cost
What wheeled energy really costs per delivered kWh: contract price ÷ DLF + wheeling . The number to compare against the grid tariff — not the contract price. On Overview it is the flat 5-year line and the green tick on the price rail. Explained in → V5 §8 · rail V5 §4.9 · V3 · Strategy
LCOE
Levelised cost of energy (c/kWh) held on the IPP book — the cost basis every realised price is judged against. Default 48. On Overview the assumptions strip and the price rail both show it in c/kWh (LCOE 48 c/kWh; 48 c on the rail). Explained in → V4 §4.3 · rail V4 §4.7
Line item
One double-entry ledger row of a settlement: party, category, quantity, rate, amount. All of a settlement's line items sum to zero. Explained in → V0 §3.3 · V8 §8
Line kinds
ALLOCATION (energy that flowed), SPILL (supply nobody took), SHORTFALL (demand nobody met), BESS_CHARGE (energy into a battery — margin 0), BESS_DISCHARGE (energy out — margin = realised arbitrage, buy price = stored marginal cost). Explained in → V3 · Strategy
Live tick
One S15 live-meter advance: the Simulator moves the virtual clock +20 minutes and enqueues an ingest worker. Distinct from seeded S05 history and from the Lab's accelerated Driver. Explained in → V21 §6
LIVE_PANEL
The narrowest plant-feed read grant: the grantee may see Plant now (today's measured output) and nothing else. It does not open the day chart, the sample table, or trace downloads, and it never authorises a push. Battery health is excluded from this projection. Formerly taught as V4 §20. Explained in → V4 §11.7
Market Participation Agreement
One of the two agreements you sign to join the market. It makes you a participant in the day-ahead and intraday markets. Distinct from the Balancing Agreement, and you can hold one without the other. Issued by the Market Operator within ten business days of it having everything it needs, returned executed within ten — and at least three business days before the effective date. Explained in → V9 §3.13
Market phase
A NERSA determination of which SAWEM doors are open, to whom, and from which size — not a software release and not a feature flag. It is a twenty-fifth row on the same effective-dated market rules register as the Annexure 2 figures, with a small matrix beside it that says what the phase permits (DAM, IDM, private-trader access, a wholesale floor, and a dormant forward-registration key). Changing it is a register publish on /mo/rules, not a deployment. Explained in → V9 §18 · V21 §8.7
Matched energy
Per interval, min(resolved supply, resolved demand) after any allocation or claim-set carve — the quantity the deal actually covers before losses. Explained in → V8 §1.2 · V8 §2
Matched fraction
Share of plant generation that overlaps the buyer's consumption hour by hour (Σ min(gen, cons) ÷ Σ gen). Only that overlapping energy earns an Eskom WER credit on a virtual PPA — the rest is unmatched volume. Explained in → V7 §3.4b (Matched shapes) · V7 §9 · V3 §13.2
Contract for difference
See CfD (Contract for difference).
MAPE (Mean Absolute Percentage Error)
Rolling forecast-vs-actual error; drives confidence bands and recalibration alerts. Explained in → V4 §8.1.1 · V4 §8.2
Margin bridge
The seven-step walk from a book-month's plan of record to settled actuals (volume, price, shape, imbalance, contract, leaks, unexplained). The card eyebrow is Why the plan was missed when actual fell short of plan, Why actual beat the plan when it was higher, Plan met when they match, and Plan against actual while no bridge is built. It is an explanation of the plan-to-actual gap — not part of the P&L and not added to the Loss Ledger. On the IPP Dashboard it sits in Chapter 1 above Monthly Money (performance-bridge-{book id}). Explained in → V4 §12.2.5 · arithmetic V16 §5
Margin@Risk (MaR)
(P50 margin − P90 adverse margin) ÷ P50 margin — the share of expected margin a bad-generation period wipes out. Explained in → V3 · Strategy
Marginal unit
The unit whose incremental price is the SMP in a period — the most expensive flexible unit scheduled to run. Not necessarily the most expensive unit running: a plant at its minimum, one declared inflexible, one whose ramp bound or one held up by Regulating Down reserve is all excluded, however dear. Where several units share the marginal price, the marginal volume is split pro rata to increment width — not equally and not by registration order. Explained in → V9 §4.13
Inflexible
Unable to set the SMP, on any of four grounds: scheduled at or below Minimum Stable Generation; declared I for the period; ramp-constrained; or held by Regulating Down reserve. The last two are properties of the clearing rather than of your submission — you cannot tell from your own volume that a ramp bound, which is why the schedule says so. Distinct from the flexible indicator, which is one of the four. Explained in → V9 §4.13
Marginal pro-rata
A rung priced exactly at the clearing price is accepted only for what the residual absorbs at that price (10 MWh offered at 965 → 7.653 accepted). Explained in → V3 · Strategy
Market revenue forecast
Forward expected market result: Σ net position × P50 over the period. Explained in → V3 · Strategy
Market notice
MO-broadcast message to BRPs: GENERAL , SYSTEM_STRESS , or PRICE_CAP_EVENT . Explained in → V9 §9
Market rules
The MO's versioned parameter set — twenty-four Market Code parameters (caps, floors, gates, the metering band, settlement and security thresholds), a twenty-fifth market phase row from NERSA's Draft Trading Rules, plus eight labelled switches where the Code is defective. Data with an effective date, never a constant; an expired value keeps applying until the Market Governance Committee replaces it; every bid pins the version it was built under. Explained in → V9 §9 · V9 §18
Market Balancing Account
The account the ancillary-service-recovery pot is carried in. Everything the System Operator's decisions cost — constrained adjustments, reserve capacity, above-cap payments — accrues here and is recovered from the market as an ancillary service charge. The Market Operator's settlement board shows its position for every published day, beside the energy-account residual that must read R 0.00. Explained in → V9 §13.2
Market Price Cap
The most a megawatt-hour can be worth in one hour: R 5 396.40/MWh (Market Code Annexure 2). Five mechanisms in the Code fire only when a price exceeds it, so a cap set too high silently disables all five. Explained in → V9 §9
Market rung
The forecast-priced charge source / discharge outlet added to the battery's ladders: buy from the market planned at a high quantile, sell planned at a low one. A contract rung always wins a tie. Explained in → V3 · Strategy
Materiality (settlement)
Whether a correction is High or Low, measured against the Materiality Threshold (R100 000) by reference to a single Settlement Statement — not market-wide and not cumulatively (§15.4.2(7)). Low is settled on the next Timetabled Rerun; High gets an additional rerun for that period. Low after the final rerun also gets an additional one, because there is no next. Explained in → V9 §15.5
Member
A contract (PPA), a site (prospecting or battery), or a counterparty trader block inside a pool. Explained in → V3 · Strategy
Materiality threshold
Whether the Physical vs Virtual difference is large enough to act on for your role. Below it, review Gaps and the Decide counter stay silent; compose still shows both verdicts so you can see the position. Explained in → V7 §3.4c · V7 §3.5b
Load Curtailment
Load reduction obtained from customers able to reduce demand on instruction (§2.1(117)) — priced demand response, valued in the merit order. Preferred to load shedding when the System Operator considers the total economic cost. Explained in → V12 §4.10
Load Reduction
The ability to reduce customer demand, by curtailment or by shedding (§2.1(118)). In issuing such an instruction the System Operator must consider the total economic cost (§11.4(6)) — which in market terms means preferring priced demand response to unpriced shedding, and recording the ranking so the cost report can be produced. Explained in → V12 §4.10
Loading ramp
The rate at which a unit moves from its minimum to its maximum, in MW per hour (§7.2(n)). One of four registered rates; the one that governs Instructed Energy on an ordinary up-instruction. Which of the four applies is decided by the transition, not chosen — and selecting the wrong one silently changes the money. Explained in → V12 §3.3
Loading ramp rate
How fast a unit moves from minimum generation up to its Maximum Continuous Rating, in MW/h (§7.2(n)). One of four ramp rates the Code asks for — start-up, loading, de-loading and shut-down — and the four are not interchangeable: the loading rate determines Instructed Energy on an up-instruction and the de-loading rate on a down-instruction, so collapsing them into one figure changes money. Explained in → V9 §3.7
Lodgement (IDM)
The receipt for what a participant handed in to an intraday auction before that iteration's gate: a re-declaration (unit, hour, new volume, reason) or a day's rescheduling consent. It is an input, not the market result. Status Logged means the slip exists; it is not yet the price, the revised schedule, or the money. A second lodge for the same unit, date, iteration, hour and kind replaces the first. The organisation screen is Bid Desk → IDM → Lodgements. Explained in → V10 §12.4.6
Meter
The revenue meter recording a site's energy at its connection point. A check meter is the independent second meter used for verification. Explained in → V0 §3
Meter-point
On off-taker site onboarding, the indigo square marker and the Meter-point latitude / longitude fields — the GPS of the demand meter, which may sit at a kiosk or gate away from the buildings. Defaults to the site pin; Same as site location snaps it back. Not the same as a market metering point (a till with two owners) and not the generator point of connection. Explained in → V5 §2.3
MCR (Maximum Continuous Rating)
The highest output a plant can sustain indefinitely — the third elbow of its production curve, and the ceiling of normal operation. Above it lies only Emergency Level 1. Explained in → V9 §9
Metering Accuracy Band (MAB)
A 5 % tolerance around Contracted Energy inside which a deviation settles at the System Marginal Price with no penalty (§13.5(2)). Two things about it decide most balancing outcomes: a System Operator instruction negates it entirely for that period (§13.5(4)) — it is a tolerance for metering error on a self-scheduled position, not an allowance against an instruction — and breaching it is a cliff: the whole deviation reprices at the balancing price, not merely the excess. Explained in → V9 §6.3
Metering point
A registered Point of Delivery seen from settlement's side: the place a meter measures, and the place the pairing rule applies. Every one has two owners — the energy through it is sold by one Balance Responsible Party and bought by another — and until both are registered, nothing through it can settle for either. Explained in → V9 §14.1
Metering Service Provider
The Market Operator's agent, required to be able to remotely interrogate all metering installations and verify the data (§12.2(1)). An interrogation that fails is recorded as a failure and produces no reading — filling the gap with an estimate turns an unreachable meter into a settled number and hides the fault. Explained in → V9 §14.4
Modelled exposure
Adverse-price Rand against a named (or Unattributed) buyer on IPP Fleet chapter 02 — not last month's invoice and not revenue. The engine values megawatts × hours at the adverse basis: short positions at the high-price tail (p90, caption 1-in-10 high price · short, buying replacement energy); long positions at the low-price tail (p10, caption 1-in-10 low price · long, selling leftover energy). A buyer that takes energy from two plants is grouped once. Stored as COUNTERPARTY_EXPOSURE_R. Explained in → V4 §2
modification (effective-dated)
A §7.1(5) change to what the market believes a Trading Unit is — MCR, ramps, zone — written as a new row that opens on a named date. The current row is closed the day before; it is never mutated, because today's settlement is computed against it. The change must be in writing by 08:00 SAST on the day preceding the effective date. A console request after that cutoff for the next Trading Day is refused and names the cutoff. Explained in → V9 §3.7
Mincharge
The lowest rate at which a storage unit can charge stably (§7.4(e)) — the charging equivalent of Mingen. New to the registry and derivable from nothing we already hold: a defaulted zero would claim the battery charges stably at any rate down to nothing. Explained in → V9 §3.7
Minimum down time
How long a unit must stay off once it has shut down (§7.2(l)). Zero for a renewable; hours for a thermal plant. Explained in → V9 §3.8
Minimum run time
How long a unit must stay on once it has been committed (§7.2(k)). The most dangerous zero in the registry: correct for a solar farm, and on a coal plant it tells the market the unit may be cycled hourly — which produces a schedule the plant cannot follow and an imbalance penalty the participant did not earn. Which is why every §7.2 field records where its value came from. Explained in → V9 §3.8
Mingen (minimum generation)
The lowest output a plant can hold while running — the must-run block of its production curve. A unit at or below Mingen is inflexible, so its must-run block can never set the market price. Explained in → V9 §9
MO / Market Desk
The Market Operator and its console ( /mo , fourth landing card): publishes rules versions, works the application board through to ACTIVE, sees the day's bid board, clears the day, broadcasts notices. Phase 3C adds its settlement-publish panel and dispute inbox. Explained in → V11 §1 · V11 §12
MPID
Market Participant identifier — the organisation-level id on the Market registration. Trader-pool onboarding does not type it; Market standing data hands off to /org/brp/registry. Explained in → V6 §2B.13 · V9 §3
Municipal accreditation
The per-municipality analogue of Eskom accreditation: trader-register entry and signed municipal wheeling agreement, tracked per wheeling-enabled municipality on the Accreditations tab. A row is complete only when both are ticked and dated. Gates trader-pool creation. Explained in → V2 §2
Municipality
A local electricity distributor. A wheeling-enabled municipality lets private energy reach customers on its network; it configures participation and tariffs through the Munix app. Explained in → V0 §1
Negotiation
The wizard-driven phase where both parties complete a draft PPA's terms step by step until it is ready to sign. Explained in → V0 §4
Negotiating brief
Your private, versioned record of targets, walk-aways and rationale on a proposal. Readable only by your organisation; the counterparty sees only your public asks. Explained in → V7 §3.5
NERSA
The National Energy Regulator of South Africa. Licenses generation and trading and approves the tariffs the platform's reference data mirrors. Explained in → V0 §1
Net position (market)
Per SAST hour: Σ spill − Σ shortfall from the book's freshest run, with the member decomposition kept — the bridge from book to bid. On Bid Desk → Submissions this is the stacked-area chart Net position (MWh by SAST hour). Explained in → V9 §4 · V10 §12.3
Netting (cross-book)
Summing the signed per-hour positions of all books under one registration and bidding only the residual — the market settles the registration, not the book. Component ladders are merged, never price-blended; attribution keeps each book truthful at SMP. Explained in → V9 §4
Network zone
A geographic area of the grid, defined so the market can tell when a corridor is full. Everything in one market registration has to sit in one zone, so a portfolio spanning three zones becomes three registrations, balanced separately. Explained in → V12 §2
Newsvendor
The commit-under-uncertainty method behind the optimiser: with asymmetric mistake costs, the optimal commitment sits at the critical quantile of the demand distribution, not its average. On the off-taker desk, under-buying forgoes Cu (grid − landed) and over-buying costs Co (landed − spill credit), so q* usually sits below the median. Explained in → V5 §6.1 · V3 · Strategy
Next chapter (IPP Dashboard)
Chapter 6 of the generator-site Dashboard (#ipp-story-next): three sales or availability jobs ranked by stored annual worth (#ipp-story-actions, data-role="next-action") — bid the leftover on SAWEM, sign daytime buyers, or arrest / hold HAF. Priced from the same baseline as the loss ledger. The buyers card is per megawatt; the other two are year totals. Not a fourth money figure and not the fleet chapter 04 / The next chapter. Explained in → V4 §12.8 · cards V4 §12.8.2
Next best actions
A ranked list of what to do next, ordered by Rand at stake. On the trader Overview the panel is #overview-actions (Next best actions · ranked by rand at stake); each card deep-links to Desk, Nominations, Pools, Allocations, BESS or Dashboard. On the OffTaker Overview the panel is #offtaker-actions and deep-links to Procurement. Advice, not a signed order. Distinct from IPP Dashboard Next chapter. Explained in → V6 §4.5 · V5 §4.4
Nomination
The monthly hour-by-hour declaration of a flexible member's delivery, submitted as 20-minute settlement rows and binding at settlement. Explained in → V0 §3.3 · V8 §3 · V3 §9
Nomination plan
One member-month's nomination proposal: 72 hour templates (3 day-types × 24 hours) with full optimiser rationale, moving DRAFT → PROPOSED → APPROVED → SUBMITTED. Explained in → V3 · Strategy
NMD (Notified maximum demand)
The highest load the network has agreed an off-taker site may draw, in kilovolt-amperes (kVA). On onboarding Supply it is Current notified maximum demand (kVA); Proposed NMD is optional when a change is planned. Explained in → V5 §2.3
Notified capacity
The off-taker meter's agreed capacity in kVA (notified_capacity_kva). Virtual Wheeling enrolment requires it strictly above 100 kVA; a site at exactly 100 kVA is refused. Related to NMD on Supply onboarding. Explained in → V17 §3 · V17 §8
Official balancing price
The balancing figure produced on day n+7 from verified metering and a verified dispatch instruction log (§13.1(1), §13.6(1)). What the invoice is struck on. It coexists with the preliminary figure rather than replacing it, so the difference between the two is always attributable. Explained in → V9 §6.8
Off-taker site
An energy consumer's site — the buy side. Carries its category, connection voltage, meter, tariff preference and demand profile. Explained in → V0 §3 · V5 §2 · V5 §2.3 · V2 §3
Off-taker site draft
The durable working record for a partly completed off-taker registration (off_taker_site_onboarding_cases). Created by Add New Site, opened at /org/off-taker-sites/onboarding/:id, resumed from the amber Off-taker site drafts rail. The live site is written only when you press Create off-taker site. Edit on a live site reuses the same URL with that site attached — Save changes updates it and does not create a second shop. Explained in → V5 §2.3 · V2 §3.3
On trust
Held by one party, owned by another, not to be mixed with the holder's own money. The Trading Clearing Account is in the Market Operator's name on trust: the money is yours, the Market Operator may not spend it on its own business, and the interest accrues to you (§15.2(4)). Explained in → V9 §3.16
On instruction
A schedule change the Market Operator chose, with no matching change in the participant's own declaration — or the part of a change in excess of one (§10(7), §10(9)). The participant keeps the better of its own offered price and the Intra-Day Price. Explained in → V9 §5.2
On instruction (balancing)
The part of a deviation that follows a System Operator dispatch instruction. Settled at the unit's own offer curve — floored at the System Marginal Price for a sale, capped at it for a purchase (§13.4) — and integrated to the energy actually delivered rather than to the energy instructed, so a unit is not paid for what its meter never saw. Explained in → V9 §6.6
Organization
Your company on the platform: it owns sites and pools, holds Eskom and municipal accreditations, and employs the users who sign in. Every org-app screen is scoped to one organization. Explained in → V0 §3
Out of Merit Energy
A volume — 2 000 MW at commencement — of the most expensive Balancing Energy Sold increments that §13.7(2) excludes before the Balancing Price (Buying) is averaged. Where the whole stack is smaller than the allowance, everything is excluded, the price falls to the System Marginal Price and the balancing penalty ceases to exist for that period. The platform alarms when it happens rather than returning the number quietly. Explained in → V9 §6.5
Outage overlay
The effect of an OUTAGE instruction: the site's forecast is zeroed for the window only — an overlay at run time; the forecast series itself is never edited. Explained in → V3 · Strategy
Over-contract exposure
Rand lost on wheeled energy the site didn't consume: paid at landed cost, recovered only at the spill credit. The buyer's spill. On Overview it is Over-contract cost / Spilled back on the mix hero and the Trim next-best-action. Explained in → V5 §4.1.D · V5 §4.4.A · V3 · Strategy
Overview Explanations
The right-hand drawer on Generator, OffTaker and Trader Strategy Overview (#overview-explanations-open) that lists every term and abbreviation on that screen in alphabetic order. Same chrome as Allocation Explanations and the fleet-detail drawer: opens right, green header, X top-right. Each seat has its own list. The trader Overview also has How to Read the View. The trader Book tab has a twin drawer with a different list per mode — see Book Explanations. Explained in → V4 §4.8 · V5 §4.11 · V6 §4.11
Posted Credit Cover
What the participant has actually lodged: a cash deposit in a Collateral Reserve Account (§15.10(3)). The headroom — posted less required — is what a Warning Notice measures, and what a Credit Call draws down. Explained in → V9 §15.4
Preliminary balancing price
The balancing figure published from provisional metering by 17:00 on the day after the Trading Day (§13.3(1), §13.6(1)). What a participant plans against, explicitly labelled — it is not what the invoice is struck on. Explained in → V9 §6.8
P(short)
In the firm-viability check: the probability the plant's generation falls short in a firm block's hours, from its hourly shape. Solar at 19:00 → 1.0. The Sales Desk card labels it Chance the plant falls short and shows it as a percentage (1.0 → 100 %). Explained in → V4 §6.8.1 · V4 §6.8.2
P05 / P50 / P95 (margin)
On IPP Fleet → Understand the estimate → Distribution data, three leftover grades for one pile of made-up days or months: a poor leftover (about 5 in 100 worse), the middle leftover, and a strong leftover. They are Rand the book keeps on those slips, not VaR-95 (VaR-95 is the gap from the average leftover down to the poor neighbourhood). Not generation P50 / P90 and not price P10 / P50 / P90. Horizons print as 1 day and 1 month. Empty fold copy: No fleet distribution has been run yet. Explained in → V4 §2
P10 / P50 / P90 (price)
Per forecast cell: the price only 10% of recent same-type hours cleared below (seller's bad case), the median, and the price only 10% cleared above (buyer's bad case). Not the leftover grades on IPP Fleet Distribution data (P05 / P50 / P95 (margin)). Explained in → V3 · Strategy
P50 / P75 / P90 (Probability bands)
FG at 50/75/90 % confidence. P90 is the conservative figure — 90 % of the time actuals land at or above it. Explained in → V4 §8.1.3 · V4 §8.1.6
P50 / P90
Expected vs conservative generation forecast grade; P90 ≤ P50. Derived per technology when not measured (solar ×0.94, wind ×0.86, …). Not the leftover grades on IPP Fleet Distribution data (P05 / P50 / P95 (margin)). On the trader Overview, P50 is the headline case and P90 is the adverse case behind Margin@Risk. Explained in → V6 §4.10.3 · V4 §4.2 · outlook V4 §4.6 · V3 · Strategy
P90 month runs dry
Amber row on the Forecast cascade (data-role="p90-dry"): a conservative (P90) generation month would empty inside this tier, so buyers on and below it would be short. Not the Rules hourly strip Where the cascade runs dry. Explained in → V4 §8.1.4
p_base
The hour's base SMP before participant impact — the familiar deterministic TOU curve (700/980/1400). Explained in → V3 · Strategy
Party assignment
Who controls each term: S (seller sets), B (buyer sets), J (joint — proposed and approved by both), D (derived — computed, read-only). Every proposal and wizard field wears its chip. Explained in → V7 §3
Payment reversal
Taking a receipt or payment recorded by mistake back off the documents it paid. Those documents open again, and the record stays, marked Reversed, with its reason and what it had paid, so the trail is never deleted. Not the market's intraday reversal. Explained in → V15 §16.4
Performance adjustment factor
A multiplier the System Operator applies to a reserve capacity payment when your delivery was assessed below par. It scales qualifying capacity × system price and is named on the settlement line, so a reduced payment can be told apart from a floored price or a failed band condition. Explained in → V9 §13.5
Physical PPA
A PPA where energy is actually delivered across the grid: settlement matches metered supply to metered demand interval by interval, applies loss factors and network charges, and produces a delivered-energy profile. Explained in → V0 §5
Plant feed
The named pipe from a generator site into the live register: a path (Push API, Mirror file, or Mock), a cadence (five or ten minutes), an effective date, and whether pushes must be signed. Distinct from a settlement meter and from a platform feed in the operations catalogue. Formerly taught as V4 §20. Explained in → V4 §11.4 · schema V2 §11
Plant live
The live register inside the IPP site workspace’s Operations view, page #ipp-plant. The full live register: Plant now, the feed book, dated samples, events, traces and consent. Not a Dashboard drawer. Formerly V4 §20. Explained in → V4 §11
Plant now
Today's measured output strip (#plant-now-{site id}): freshness, active / available megawatts, setpoint, units, optional battery charge, Available today, and a 24-hour sparkline. In Operations it is the top of the register. On Dashboard (§12) it is a compact glance; Open plant navigates to Operations. Battery health never appears here. Explained in → V4 §11.3 · glance V4 §12.6
Plant profile
The optional engineering recipe on a generator site — tilt and tracking for solar, turbine count and hub height for wind, inflow for hydro, heat rate for thermal. Also called a typed profile. A missing profile leaves the technology default in place. Overview's Unsold profile fold shows an amber profile or default pill. Explained in → V4 §4.2 · V4 §18 · V2 §4.7
Point of connection
The electrical node where a generator site meets the network — often a substation away from the generating plant. On onboarding Identity the indigo square marker and the Point of connection longitude / latitude fields are this pin; they default to the plant when an address is first set. Same as site location snaps them onto the plant pin; a map click places them when no marker exists yet and unticks that box. Not the same as a market Point of Delivery (a metered till with two owners). Explained in → V2 §4.3A
Point of Delivery
One metered point at which energy enters or leaves the grid, registered against a Trading Unit. Carries its electrical node, the meter's device number and the reference the market's metering service provider interrogates it with — plus its counterparty, because every meter has two owners in the market. Explained in → V9 §3.4 · zone allocation V12 §2
Point of Delivery pairing
The §7.1(6) / §12.3(1) workflow that names the other Balance Responsible Party on a meter and waits for reciprocity. Until both sides are registered the point is unpaired — a settlement incident on the meter till: Actual Energy through it cannot be finished for either party. Day-ahead energy payment on the schedule is a different till and does not need that name. After onboarding, add / remove / re-pair lives on the Trading Unit card (Units/Groups and Market › Registry). Removing the last paired point surfaces the clause; it does not leave a silent empty list. Explained in → V9 §3.4 · two tills V9 §3.4
Pool
A named group of members on one side: supply (sources) or demand (sinks), carrying group-level policy (priority, limits, rules, spill routing). Explained in → V3 · Strategy
PPA
Power purchase agreement — a contract to buy or sell energy (and sometimes green attributes) between counterparties. Physical PPAs deliver wheeled energy; virtual PPAs settle financially. Explained in → V0 §5 · V7 §1
PPA (Power Purchase Agreement)
The contract between a seller and a buyer of energy. Comes in two kinds: physical (energy is wheeled across the grid) and virtual (a purely financial hedge). Four deal types exist for each kind. Explained in → V0 §5 · V4 · IPP
Preferred run flag
Y or N per Trading Period, and only for an energy-limited unit. The limit says how much energy you may spend across the day; this says when you would rather spend it. Without it the market has the cap and no guidance about where to apply it, which is why an energy-constrained submission that omits it is rejected. Explained in → V9 §4.8
Price card
A seller's public menu of supported contract shapes with one ask price each (as-generated, capped, top, …). Floors and walk-aways stay on the negotiating brief — the card shows only what the buyer can choose. Explained in → V4 §6.4.1 · V7 §3.4a
Price collar
The ±5 % band around the day-ahead System Marginal Price that the Intra-Day Price is held within (§10(10)). Both the raw figure and the capped one are published with a collared flag, so a participant can see when the cap moved the price — the Code's lower-bound wording is misdrafted and the evidence for fixing it has to be observable. Explained in → V9 §5.4
Price forecast
The trailing-quantile SMP forecast: last 28 days of clearing prices bucketed by market × month × day-type × SAST hour → P10/P50/P90 per cell, versioned; refreshed daily at 12:30. Changes positions, never bid prices. Explained in → V3 · Strategy
Price impact
Your own volume moving the clearing price: 4.71 MWh sold at p_base 980, k 500 clears at 970.77 — R 43.47 of revenue lost to your own selling pressure. The thing the mock could never show. Explained in → V3 · Strategy
Price MaR
The price leg of margin-at-risk: expected revenue minus adverse revenue, where long hours realise P10 and short hours pay P90. Explained in → V3 · Strategy
Price taker
Registration flag: offers go in at the market floor and accept whatever clears — for must-run energy with no opportunity cost. Explained in → V3 · Strategy
Provisional zone model
The estimated network zone map (PROV-2026-07) used while the System Operator has not published its own — eight areas Z1–Z8. Mutually exclusive but covers only about a fifth of the country and carries no corridor limits; every screen and payload showing a zone from it says so. Explained in → V12 §2.1 · V12 §2.3 · SO map /so/network-model?tab=map · MO gaps V11 §12
Provisional (settlement)
A period calculated while some meter or nomination data is still missing — marked so a later idempotent re-run can supersede DRAFT/PRELIMINARY numbers when the series arrives. Explained in → V8 §3 · V8 §11
Proposal
The pre-contract handshake: one organization's offered terms to another. PENDING until accepted, declined, withdrawn or expired; accepting creates the draft PPA. Explained in → V0 §4
Provenance (bid)
Carried on every bid line: the strategy run id and the components (member, MWh, opportunity cost) behind its price. The row-expand on the Bid Desk. Explained in → V9 §4
Ramp rate
How fast a unit may change output, in MW per hour. Four are registered — start-up, loading, de-loading and shut-down (§7.2(m)–(p)) — and the one that applies to an instruction is derived from the transition it implies. A transition spanning the unit's minimum takes the slower of the two applicable rates, being the only reading that cannot instruct a trajectory the plant is unable to follow. Explained in → V12 §3.3
Rate permutation
Expanding a tariff's charges into their priced cells: each charge gets one rate per applicable season × TOU combination (both → 6, season-only → 2, TOU-only → 3, neither → 1), created Pending and then priced and activated. Explained in → V2 §8
Read coverage
Actual vs expected meter reads for a period. A fully-covered hour has 3 × 20-minute reads; the Reads heatmap colours complete hours green and gaps red. On an off-taker site the tiles are Reads, Expected in window, Gaps in window and Days w/ gaps. Explained in → V2 §7 · V5 §3.3
Reading
One raw meter register value at a timestamp. Two consecutive readings make one interval. Explained in → V0 §3
Reading quality
How a metered value was arrived at: actual (read from the meter), or estimated, substituted or interpolated — three different ways of supplying a number nobody measured. An hour takes the worst quality among its readings, and anything but actual seven days on is an allocation exception rather than a settlement input. Explained in → V9 §14.3
Quarter-hour
A fifteen-minute settlement slice — Eskom's Virtual Wheeling grain. The account chip says "15-minute grain"; prose on the organisation page says quarter-hour. Classic wheeling stays at 20 minutes. Explained in → V17 §1 · V17 §4
Realised R/MWh
Revenue (or sold-line margin) ÷ total generation, unsold hours counted at zero. The honest sell-side headline (vs achieved , which is earned only on sold energy). On Book · Forecast it is the note under Effective price. On IPP screens it prints in c/kWh (10 R/MWh = 1 c/kWh): the Dashboard sources ledger's Total earned line reads realised {N} c/kWh on all generated, and Overview's price rail marks realised in c. Explained in → V6 §6.12 · V4 §4 · Dashboard V4 §12.4.7
REC
A Renewable Energy Certificate: 1 MWh of renewable electricity generated, accrued from FINAL settlement and issued in an external registry (zaRECs or I-REC). The platform is a mirror, not a registry. Distinct from a carbon credit. Explained in → V0 §10 · V19 · Carbon
Receipt
Money a customer paid you, recorded against a document you issued. Its record names the customer, so it can pay only that customer's documents. The same record for money you paid out is a payment. Recording either moves no money. Explained in → V15 §16
Reciprocity
The requirement that both parties declare the same electrical node before energy through it can be settled. A one-sided declaration is not a pending nicety: the point sits awaiting counterparty and is unsettleable for both sides. The counterparty is told of every addition and removal, and answers in its counterparty inbox — confirm, or dispute with a reason. Explained in → V9 §3.5
Reconciliation run
One month's join of the internal expectation to the MO settlement file: a summary (lines, % matched, net variance) plus one classified line per (period, charge type). Runs on the 3rd at 07:00, or on demand. Explained in → V3 · Strategy
Reference sandbox
A copy of the market a participant can point its client at, seeded with the worked Trading Day and with a drivable clock. Freeze an instant, submit, advance one second past the gate and submit again — a gate closure exercised in one test run instead of one per day. Explained in → V9 §12
Reference vectors
Published inputs with their expected outputs: canonical message forms with their digests, and every figure of the worked Trading Day. How two independent implementations discover they disagree before money moves — a client that replays the golden day and gets a different System Marginal Price has found a real disagreement, not a rounding preference. Explained in → V9 §12
Register
One of a meter's cumulative counters — ever-increasing kWh per TOU period (consumption registers on demand meters, export registers on generator meters). Intervals are derived from register differences, never from the counters directly. Explained in → V2 §6
Re-propose
Clone a declined (or expired) proposal into a fresh DRAFT that carries both parties' slices and any review notes forward; the source becomes SUPERSEDED. Distinct from renewing an expired clock. Explained in → V7 §3.5d
Ring-fenced
Walled off so the money cannot be used for somebody else's problem. The Market Operator Charge Account is ring-fenced: its balance may never cover a shortfall or an unsecured bad debt (§15.3.4(6)). Explained in → V9 §3.16
Required Credit Cover
Actual Exposure plus Undefined Potential Exposure (§15.10(8)), recalculated every business day and notified by 17:00. The Market Code's own formula is incomplete — clause 15.10.3(4) is unreadable in the gazetted PDF and gives nothing for Undefined Potential Exposure — so ours implements the shape the words require with every coefficient a parameter, published as a method note beside the figure. Explained in → V9 §15.4
Rerun Settlement Statement
A corrected statement, timetabled a month after the Billing Period or raised ad hoc after a query (§15.3.5). It must be in the same format as the initial statement and carry both the previous and the revised values for every period where they differ — so it is a diff, not a snapshot. A statement is never edited; it is superseded. Explained in → V9 §15.6
A participant's standing statement that its day-ahead schedules are, or are not, available for intraday re-scheduling (§10(2)). Declaring non-willing keeps it out of an ordinary re-clear — but not out of one the System Operator drives with an additional network constraint (§10(4)(iii)). Consent is not absolute. Explained in → V9 §5.1
Reversal
An intraday movement that retraces ground an earlier iteration covered. The earlier payment or charge is negated for the reversed portion and the movement raises no charge of its own (§10(15)) — and the netting reaches back past iteration 1 to the day-ahead constrained adjustment itself. A unit returned to its day-ahead schedule has a net intraday position of exactly R 0.00. Explained in → V9 §5.6
Review draft
Your private working copy of terms while a received proposal is PENDING. Staging never touches the shared proposal until you accept (merge) or explicitly share; expiry discards the draft, decline keeps it for a later re-propose. Explained in → V7 §3.5a
Replacement cost
c/kWh of buying market energy to honour a firm block the plant couldn't generate into. Default 210; sets the downside in the firm-viability check. On Overview it is the right-hand mark on the price rail, in c/kWh (210 c). Explained in → V4 §4.3 · rail V4 §4.7 · V4 §6.8.1
Reserve availability indicator
Three per Trading Period — Instantaneous, Regulating, Ten-Minute — each A (available) or U (unavailable). An A is only meaningful against a System Operator certification: reserve capacity is certified, not self-declared, so an A on a category the SO has certified at zero is a claim the unit cannot back, and it is rejected. Explained in → V9 §4.8 · V9 §3.7
Reserve floor price
The Market Governance Committee's minimum for a reserve system price. The published price is `max(floor, the highest cost of lost opportunity among contracted units)`, so it sits at the floor whenever no unit gave up anything valuable to stand ready — which is the normal state of an uncongested hour, not a fault. The board flags it, because R50 from a floor and R50 that cleared mean opposite things about how tight the hour was. Explained in → V9 §4.15
Residual demand
The demand left unserved when the book runs without its nominated members — the quantity a nomination exists to cover. Explained in → V3 · Strategy
Residual market
Everyone not on the platform, modelled as a linear price-elastic curve around p_base : k × (p − p_base) ÷ p_base . What your bids clear against in the sim. Explained in → V3 · Strategy
Revenue HHI
Buyer concentration: sum of squared revenue shares by buyer. 1.0 = a single buyer holds all the plant's revenue. On Overview the buyers meter is this number; next best actions fire diversify when it is above 0.5. On the IPP Dashboard sources ledger it is computed from lifetime PPA-buyer shares only — RECs and SAWEM are not in it. Explained in → V4 §4.5 · Dashboard V4 §12.4.7
Risk limit
A warn/breach threshold on a metric, direction above or below ; evaluated at every snapshot. Explained in → V3 · Strategy
Risk score (Sales Desk)
A 0–100 blend of five components on a simulated deal — Margin@Risk (P50 margin lost under P90 volumes), revenue concentration after the deal, shape / firmness, price lock, counterparty readiness — with weights held on the IPP book (sales_risk_weights). Explained in → V4 §6
Risk snapshot
The frozen daily KPI record (metrics + per-pool breakdown + limit breaches) the Overview and Dashboard read. Trader and OffTaker Overview stay empty until one exists; Run Forecast Now seals a new row for that book. Explained in → V6 §4.10 · V5 §4.5 · V3 · Strategy
Registration notice
A row telling the System Operator that the shared registry changed — unit registered or modified, PoD added/removed, certification requested. The §7.1(2) share is both this push and the pull on GET /internal/mo/registry. Distinct from the §7.1(6) party-to-party counterparty notification. Explained in → V12 §6
Registration status
The four-word answer to may this seat bid today?: PENDING → ACTIVE → SUSPENDED / REVOKED. Bidding requires ACTIVE. Getting from PENDING to ACTIVE is the fifteen-status application board (information, issued agreements, signatures, approval, activate). Explained in → V9 §3.13A
Rolled-over submission
What the Market Operator submits on your behalf when you miss a gate. Day 1 of the rollover is day 2 of your last submission, day 2 is day 3, and day 7 repeats day 7 — there is no day 8 to shift from. Energy limits roll the same way. You are notified every time, and staleness is carried as a number: seven consecutive misses leave you submitting one week-old profile for every day of your horizon, which is why crossing the threshold raises an alert rather than continuing quietly. Explained in → V9 §4.10
Rolling outlook
On Allocation → Forecast, this month's run plus the next three months' live forecast runs (#forecast-outlook). A month without a run reads no run yet / Runs on the 5th. Explained in → V4 §8.1.9
Root-cause hint
The reconciler's re-derivation verdict on a variance: quantities match ⇒ PRICE ; quantities differ ⇒ QUANTITY (energy) or METER (imbalance — a meter-data dispute). Explained in → V9 §8
Round-trip efficiency (η_rt)
The share of cycled energy that survives (default 88%). One-way efficiency = √η_rt; the spread rule divides charge cost by η_rt to tax the loss. Explained in → V3 · Strategy
Run-of-river
Hydro generation that follows available river flow, represented by monthly inflow factors and any declared water-energy limits. Explained in → V4 §18.4
Safety margin
R/MWh (default 10) added to every offer and subtracted from every buy limit, so bids never sit exactly at breakeven. Held on the registration. Explained in → V9 §3
SAGERS
The South African Greenhouse Gas Emissions Reporting System. A facility on the Tax room can store its SAGERS reference so the carbon-tax activity stays lined up with that national report. The platform records the reference. It does not submit the report. Explained in → V20 §3
A plant-feed read grant that opens the day chart, the sample table and the event list, and also includes LIVE_PANEL. It does not open trace downloads — that is EVIDENCE. A read grant never authorises a push. Formerly taught as V4 §20. Explained in → V4 §11.7 · samples V4 §11.5
Procurement Desk
The off-taker site\'s five-step buy screen: the need and what it costs today (Option 0 · stay on the grid), who could supply the block, build the purchase (route, terms, risk terms), saving and security vs grid, compare strategies. A virtual PPA counts as a price hedge only; SAWEM is reached only through a trader candidate. Explained in → V5 §6 · engine picture V3 §13.2
Saving · month (directory tile)
The third OffTaker Sites fleet tile: an energy-only estimate of one month's Rand saved on live sites, last-month kWh × covered share × max(grid c − contract c, 0) ÷ 100, shown compact (R 201 k). Distinct from Overview Bill saving, which uses landed cost and subtracts over-contract. Explained in → V5 §2.1
Saving score (Procurement Desk)
A simulated purchase\'s saving over staying on the grid for the year, as a share of what the uncovered block costs on the grid, 0–100. Explained in → V3 §13.2
Security % (Procurement Desk)
The share of an off-taker\'s hours still covered under the seller\'s P90 (poor) supply year; the grid scores 100. One of the five components of the desk\'s risk score, beside curtailment, spill, price lock and counterparty. Explained in → V3 §13.2
Shared export cap
The maximum combined power a hybrid may export at its connection. Generation and battery discharge share this single limit. Explained in → V4 §18.3
Shape match
A supply-pool allocation rule (SHAPE_MATCH) that pins that shelf to a named demand pool for chosen time-of-use periods or clock hours. You create the joiner by adding this rule with Target pool set to a demand pool, not Any. On trader Book · Rules it is the word shape match on a coloured joiner in the wiring gutter; the colour is the supply type (Solar amber, Wind light blue), not the rule. Explained in → V6 §5.7.2 · reading the gutter V6 §5.7 · rules table V6 §5.4
Strategy (Procurement Desk)
Several simulated purchases run as one hypothetical book, so hours two sellers would both cover are allocated once. Compared as a single row beside the single purchases and the grid. Explained in → V3 §13.2
Recorded obligation fulfilment
Included contract delivery divided by included delivery plus shortfall. Its observation window, agreement interval coverage, evidence basis and settlement statuses qualify the percentage. It does not certify continuous availability, complete meter evidence or observed grid reliability. Explained in → V5 §7.3
Retrospective price benchmark
Historical daytime grid energy multiplied by the positive difference between the grid price and an observed or explicitly indicative contract landed price. It is a counterfactual comparison: historical offers, capacity and hourly delivery fit have not been validated. It is not recorded, missed or guaranteed savings. Explained in → V5 §7.4
Served strip
Under the off-taker Dashboard's monthly timeline, green indicates modelled demand coverage assuming a grid backstop; amber indicates recorded contract shortfall. It does not measure outages or observed grid reliability. Explained in → V5 §7.2
Left on the table
Former name for the off-taker Dashboard's comparison panel. See retrospective price benchmark: a counterfactual price scenario, distinct from recorded shortfall and spill exposure and from the estimated bill difference. Explained in → V5 §7.4
SAWEM share rule
An off-taker trades a share of its grid purchase on the day-ahead market only when the P90 landed market price for its grid hours is still below the grid tariff; the share is capped at 30 % of what remains after a daytime PPA, standard and off-peak hours first, via a trader with a market seat. Its worth is quoted as a P90–P50 range and labelled a model. Explained in → V5 §7.5
Fleet landing
What an organisation sees on arrival at its sites or pools. On OffTaker Sites that arrival page is the directory table plus a folded Portfolio summary & coverage notes: a verdict and four tiles for every registered site. Formerly this also meant a Needs you rail and one card per site. Explained in → V5 §2.1 · summary V5 §2.1.3
Needs you
Former name for the ranked shortlist on a fleet landing (#fleet-needs). On OffTaker Sites the same job is the Needs attention filter (#offtaker-sites-attention): supply, meter, zone and Trading Unit warnings, plus a site that is uncontracted, has never reported, or has capacity cover under 60 %. Distinct from the trader Desk Need card. Explained in → V5 §2.1.5
Glance
The light per-entity read behind an OffTaker Sites row — the latest metered month and the physical agreements — with a state of live, no readings, or not wired. It never runs the engine; the full story stays on the site's Dashboard. Explained in → V5 §2.1.1
Not wired
A landing card for a site with no contract or a pool with no members: dashed, with the one setup step as its verdict. Replaces the rows of zeros that used to look like health. Explained in V2 §5.2.
Committed capacity
Cover the way a landing reads it: AGREED PPAs plus SIGNED and ACTIVE contracts, physical and virtual, in MW. The older contracted capacity counts AGREED only. On OffTaker Sites this is the big number on the Cover tile. Explained in → V5 §2.1 · V2 §3.1.
Kept of what the book could have made
The trader Dashboard's single score: realised margin ÷ achievable margin over the counted months, where achievable is realised plus the avoidable rows of the loss ledger (market alternative not taken, grid top-up above sale price, imbalance charges, nomination misses). Explained in V3 §11.
Loss ledger (IPP)
Chapter 4 of the generator-site Dashboard: seven lifetime loss kinds (#ipp-story-loss-ledger), each with a baseline in small print, a confidence, grouped Rand, and energy when the row has megawatt-hours. Zeros stay. The seven Rand figures are seven questions — they are not added into Net. Distinct from the trader pool's loss ledger and from the organisation Money Room Panel 4 (eleven kinds, period-scoped). Explained in → V4 §12.5 · kinds V4 §12.5.4
Loss ledger (trader)
Chapter 2 of the pool's story: fixed rows for every Rand the book could have kept and did not, each with an owner — the screen where it is fixed — and staying visible at zero so a new leak shows the month it starts. Explained in V3 §11.
Trading web
Chapter 3 of the pool's story: sources on the left, buyers on the right, the pool in the middle; solid lines are settled kWh, wide by volume; dashed lines are members wired into the book that never settled a leg; spill / SAWEM and the grid are counterparties too, and a trader-to-trader leg is drawn in violet. Explained in V3 §11.
Health strip
Chapter 4 of the pool's story: eight vitals × every month since inception, each cell coloured by the limit in force that month (or a default threshold), with an events row read from contract dates, limit effective dates, the snapshot's structure digest and plan status. Explained in V3 §11.
Month grade (trader)
How much of a month in the pool's story has settled: settled (every leg FINAL) · preliminary · engine (an ACTUAL run, no settlement) · forecast (the current month). A flagged month is a ledger or seed artefact and is excluded from every total. Explained in V3 §11.
Desk (trader)
The trader pool's two-sided trading screen (was the Simulations tab): the book's sell need and buy need each priced against Option 0, candidates for both sides with a signal row, an in-page deal panel beside the candidate list (the same layout as IPP Sales and OffTaker Procurement; formerly a right-hand deal drawer), a basket that runs several legs as one book, the Strategy board, a compare table on one valuation basis, the counterparty exposure table and the Commit step. Explained in V3 §8
Option 0 (IPP)
What the IPP does if it signs no new bilateral deal: hold the unsold shape and bid it day-ahead on SAWEM at the hourly P50 of the newest day-ahead forecast run that prices an hour, less a 5 % imbalance allowance. A run whose every price is 0 is skipped, never read as a market worth R 0. The Sales Desk card Option 0 · hold and sell on SAWEM. Dashboard Chapter 6 prices the same leftover as the Bid the gap move from the last twelve story months. Distinct from Option 0 (trader), which also covers a short-side grid top-up. Explained in → V4 §6 · Dashboard move V4 §12.8.4
Option 0 (off-taker)
Leave the uncovered block on the grid. The Procurement need card prices that residual block. The comparison separately ranks Keep current contracts · no new purchase using the current full-site forecast and an All-grid reference for the same full-site load. The all-grid reference has R 0 saving against itself; the current book may already have a saving or a loss. Existing spill belongs inside contract cost. Explained in → V5 §6 · Overview route V5 §4.7.D
Option 0 (trader)
What the book does if the trader signs nothing: the long side is bid day-ahead at SAWEM's P50 less a 5 % imbalance haircut; the short side is topped up from the grid at the book's top-up price. Row 0 of every compare table on the Desk. Explained in V3 §8.1 · §8.3
Basket (Desk)
The legs a trader has parked from the candidate list or the deal panel, each with its terms; Simulate basket allocates the whole book with all of them injected at once and names the result Strategy A, B, … Explained in V3 §8.8
Strategy board
The Desk's reading of a simulated basket: buy legs → pools → sell legs with the co-ordination between them, the residual to SAWEM and the grid, KPIs before and after, and the share of revenue each counterparty would hold. Explained in V3 §8.8
Need card
One of the two cards in the Desk's position strip — Sell need (long) or Buy need (short) — with the kWh, its share, the heaviest window, Option 0 in Rand and a one-line verdict, The desk says. Explained in V3 §8.1
Thread strip (Book)
The strip at the top of every trader Book mode: Rules → Forecast → Outcomes, each stage with a verdict pill, plus a ranked issues rail whose items point at the mode that fixes them. Clicking a stage switches mode. Explained in → V3 §4
Outcome badge
On a Book · Rules pool card, the pool\'s cap or coverage band drawn as a bar with the limit tick and filled with what the latest forecast actually did to it: green inside, amber outside the band, red when a cap is broken. The same figures appear as the Forecast mode\'s caps table. Explained in → V6 §5 · V6 §6.16
Run ledger
The trader allocation-detail page at /org/trader-pools/:id/strategy/allocations/:run_id: one immutable run's day chart and Allocations / Spill / Shortfall / Margin / Audit (and BESS when intervals exist) tabs. Book · Forecast's Open the run ledger › is the door; this page is the floor. Explained in → V6 §8 · fold V6 §6.18
Run picker
The Book · Forecast control that replaced the runs list: a month input and one chip per run of the month (Forecast P50, Adverse P90, Nominated, Actual) with status pills, a simulations count, Run backcast and New run. The mode reads one run at a time and the URL carries it. Explained in → V6 §6.1 · V6 §6.11
Sales Desk
The IPP Sales tab as a five-step decision: the gap and its market value → who could absorb it → build the deal → profit and risk vs holding → compare and decide. Replaces the sell workbench; TOU pricing and firm viability are its pricing tools. Explained in → V4 §6
SAPP
The Southern African Power Pool. The Coordination Centre in Harare clears the competitive markets; this platform is a participant toolkit (book, gate, path, shadow statement), not a second market operator. Day-ahead gate 09:30 CAT. Explained in → V0 §9 · V18 · Regional Trading
SAWEM
The South African Wholesale Electricity Market — the organised wholesale marketplace where Balance Responsible Parties buy and sell energy in day-ahead and intraday hourly auctions at a uniform System Marginal Price, under rules run by the Market Operator, subject to System Operator grid constraints. An off-taker does not buy on SAWEM directly; Overview compares a SAWEM reference as the trader route. Explained in → V9 §1 · buyer route V5 §4.7.C
SAWEM reference
An optional cents-per-kWh yardstick on the off-taker book (sawem_reference_ckwh) typed under Overview Assumptions. It prices the SAWEM via trader row and the SAWEM next-best-action. Leave blank and that route stays unpriced. It is not the live SMP. Explained in → V5 §4.5 · V5 §4.4.C
SB (Subscription Balance)
FG − ED_total . Negative = oversubscribed (stop selling); positive = headroom. Explained in → V4 §8.1.6 · V4 §15.3
SCE (Safe Contractable Energy)
The widget's headline: min(AES × HAF, capacity headroom) , per prospective tier. Explained in → V4 §5 (capacity screen) · V4 §5.7 · V4 §13 (guard)
Scenario
FORECAST (the plan), NOMINATED (submitted nominations), ACTUAL (settled — later milestone), SIMULATION (what-if — never your live position). Explained in → V3 · Strategy
Scenario (sim)
The complete script of a simulated market month: seed, period, day factors, SO events, MO injections, market parameters, participants. Pure data; fully determines a run. Not the §6 what-if workbench. Explained in → V14 · V3 §17
Scenario drifted
Amber badge on a SimRun when the scenario script was saved after that cook was stored. The diary is still true of the old paper; it is no longer a current baseline. Explained in → V14 §10.2
Scenario Lab
/org/sim (dev/demo builds only, no landing card): author/clone a scenario, edit factors/events/injections/market parameters, run it asynchronously with a streamed day log, compare drift-aware history and tear down. Explained in → V14 · Scenario Lab · V3 §17
Schedule 2 exemption
A claim that this trader pool need not show a full NERSA trading-licence number, issue date and expiry. On trader-pool onboarding the field is Trading licence posture: Schedule 2 exemption / registration applies or NERSA trading licence required. Eskom virtual wheeling still wants the licence-or-exemption evidence reference. Explained in → V6 §2B.7
Seal (setup)
A completed setup stage or full S14 verify — the manifest records COMPLETED with teardown_complete and no failure. Later stages and demos assume sealed predecessors. Explained in → V21 §4
Season
A tariff's demand-season split: HIGH (South African winter — June, July, August) and LOW (the rest). Charges may price differently per season; the TOU clock's peak hours also differ by season. Explained in → V2 §8
Seat
A login persona — a user in a specific app context (an organization user, the Eskom analyst, a municipality officer, the Market or System Operator). The manual's follow-along callouts name the demo seat to use. Explained in → V0 §2
Seeded noise
Forecast error, manufactured deterministically: a hash of (seed, site, hour) in [−1, 1), scaled by the scenario's σ (default 0). No wall-clock, no randomness. Explained in → V3 · Strategy
Self-Billing Invoice
What a participant receives when the Market Operator owes it: the MO raises the invoice on the participant's behalf (§2.1(178)) and pays it by 17:00 four business days later (§15.3.4(2)(e)). One day longer than a participant's own clock, deliberately — the market must collect before it distributes, which is why a Shortfall reaches creditors in the same billing cycle. Explained in → V9 §15.1
Settlement
Two nearby jobs share the word. On a PPA, turning a closed period's metered (or nominated) energy into money: resolve the quantities, match supply to demand, price, adjust, and write a double-entry ledger that nets to zero. On the Bid Desk, the day-ahead chalkboard for one Trading Day and one Trading Unit: each hour's scheduled volume × the SMP, published by 14:00 SAST on D−1 — a receipt after the auction, not the month's invoice and not the meter till. Explained in → V8 §1 (PPA) · V10 §12.6 (Bid Desk) · V9 §13 (the three pots)
Settlement Day
A Trading Day seen from settlement. Deadlines counted from it read SD+xWD — x business days after the day ends, which is how the indicative statement and the query window are dated. Explained in → V1 §1.3
Settlement Dispute
The third tier, referred to the Dispute Resolution Board. Cannot be raised without a prior Settlement Query (§15.4.3(1)): the tiers are a sequence, not a menu. A Board decision that a statement has changed makes it a Validated Dispute. This is a challenge to a Market Operator statement; a challenge to a PPA counterparty's settlement is a bilateral settlement dispute. Explained in → V9 §15.5
Settlement file
The MO's monthly charge-line artefact per registration — the external side of every reconciliation. Published by the MO console (or a feed). Explained in → V9 §8
Settlement period
One contract × one period's settled record — TOU totals, losses, surplus/unmet — with a status lifecycle (DRAFT → PRELIMINARY → FINAL, DISPUTED/REVERSED). Explained in → V8 §11 · V0 §4
Settlement Query
The second tier (§15.4.3), raiseable after the Initial Statement until 17:00 on the fifth working day after the last Timetabled Rerun. About how the data was applied — or about any difference between an item on the Indicative and the Initial Statement, which is the one ground needing no prior Data Query. The Market Operator has one month. Explained in → V9 §15.5
Settlement Recalculation Threshold
The size a correction must exceed before prices and market schedules are recomputed and a Settlement Rerun follows (§15.4.2(3),(4)). Below it the corrected data simply feeds the next run — a settlement correction without a market one. The line exists so one participant's small metering error does not re-price the market for everyone else, and while the Market Governance Committee has not determined it, no market recalculation is performed at all. Explained in → V9 §15.5 · V9 §14.3
SF (Stability Factor)
How trustworthy is the average? 1 − coefficient of variation of seasonally-detrended generation. Explained in → V4 · IPP (HAF factor 2)
Shortfall
An invoice not paid in full by its due date (§15.3.4(4)). The Market Operator calls the participant's Posted Credit Cover forthwith, naming the Billing Period. Cured by 12:00 the next working day, settlement continues; uncured, it becomes Unsecured Bad Debt. A payment reduced by a disputed amount is a Shortfall, not a partial payment. Explained in → V9 §15.3
Shortfall %
Unmet demand ÷ total demand (strategy KPI). On the trader Overview it is a Structural position gauge and the rose inlet on Where the energy goes. In settlement, shortfall is the unmet firm promise after Match and excuses — not every as-generated deal has a shortfall line. Explained in → V6 §4.2 · V8 §1.2 · V3 · Strategy
Sites added together
On IPP Fleet chapter 03, each plant's one-month VaR-95 summed as if each bad month happened on its own. Distinct from the combined fleet bar, which scores the same paths together. Explained in → V4 §2
Sign window
The 10 days after a contract reaches AGREED in which both signatures are expected — shown as "Sign by {date}" on the Negotiations screen. When the window lapses without both signatures the deal becomes SUSPENDED; revival needs one party to request and the counterparty to accept. Explained in → V7 §5
SimRun
One execution of a scenario: status lifecycle, per-day log, artifact registry, KPIs. Ends COMPLETE / FAILED , becomes TORN_DOWN after teardown. Explained in → V3 · Strategy
Setup profile
A named setup plan: foundation, full_demo, acceptance, market, lab, stress, or live — each owns a stage span and teardown rules. Explained in → V21 §4
Setup stage
One sealed unit of consolidated setup (S00–S15): orgs, tariffs, meters, strategy, market, settlement, Lab, verify, live ticks. Explained in → V21 §4
SIMULATED ribbon
The slim amber banner (run id, scenario, seed) on any screen showing a live run's data — consoles included. Sim output is never mistakable for production. Explained in → V14 · V3 §17
Simulation harness ( WB.Sim )
The Phase-3D in-process MO/SO prototype + scenario + actuals generator + driver, plugged in behind the same gateway seams the mock uses. Simulates the market's logic , not its infrastructure. Explained in → V3 · Strategy
SM (Seasonal Model)
The expected generation for a month from the plant's resource model (irradiance/wind feed, same-month history, or P50 shape). Explained in → V4 §8.1.2 · V4 §8.2
SMP (System Marginal Price)
The single per-hour clearing price everything trades at: the incremental price, at the scheduled unconstrained volume, of the most expensive flexible unit scheduled to run. Whichever blocks cleared, every megawatt-hour settles here — your offer decides whether you clear, not what you are paid. It is not the dual of the optimisation: with start-up costs and commitment binaries those differ, and the Code defines the price mechanically. Where every unit is inflexible it is zero, which is not a cheap hour. Explained in → V9 §4.12 · V9 §4.13
SO / Dispatch Desk
The first of the three System Operator rooms (/so): Issue, Active, and Issued. You write a targeted order (or a grid-wide stress banner), watch which windows are still open, and see whether the BRP has acknowledged. The other two rooms are the Network Model (/so/network-model) and the Registry (/so/registry). Explained in → V12 §4 · V12 §5 · V12 §6
Suspension Order
The order that stops a party trading — eventually. It may not issue until one business day after the Default Notice, and then takes effect only after a delay period the Market Governance Committee sets, in business days, different for demand-side units and generators. Before it bites the MGC may amend or lift it for some of a party's Trading Units and not others. Explained in → V9 §3.14
Synchronous Condenser Operation (SCO)
A unit spinning synchronised to the grid, producing or absorbing reactive power but no net energy — grid stability without generation. Measured in MVAr, not MW, and certified by the System Operator (§7.2(t)). It carries a money consequence the other three reserve categories do not: energy consumed in SCO is charged to the System Operator, not to the unit (§2.1(194)) — but only with the certification, so without it the unit pays for energy it was directed to consume. Explained in → V9 §3.7
SO instruction
One normalised grid order: kind, site, window, MW cap, severity, plus the raw SO message for audit. Polled every 15 minutes, ingested idempotently (keyed on the SO's reference). Explained in → V12 §3.2
SoC
State of charge, in kWh or % of usable capacity. Bounded by the min/max SoC window; rolls day to day within a run. Explained in → V3 · Strategy · dispatch chart V6 §11.4
Sources ledger
On the IPP Dashboard Chapter 3, the table of every revenue source since commissioning: each ACTIVE physical PPA buyer, then RECs, then SAWEM day-ahead, then Total earned (#ipp-story-sources-table). Share bars and HHI are among PPA buyers only; the two always-on routes sit on the same table with their zeros. Distinct from Overview Who buys, which is one forecast run. Explained in → V4 §12.4
Spill %
Unsold supply ÷ total supply (strategy KPI). On the trader Overview it is a Structural position gauge and the amber outlet on Where the energy goes. In settlement, spill is supply − matched for the contract after Resolve / Allocate — residue handled by the deal's spill rule. Explained in → V6 §4.2 · V8 §1.2 · V3 · Strategy
Spill credit
c/kWh an off-taker recovers on over-contracted (banked / credited-back) wheeled energy. Default 40. Sets Co in the coverage optimiser. Editable on Overview Assumptions; the leftmost tick on the price rail. On a Virtual Wheeling credit note the same name is the charge category (:spill_credit) used when uncredited excess is routed to a named trader pool. Explained in → V5 §4.5 · rail V5 §4.9 · V3 · Strategy · V17 §7
Spill value
c/kWh a member's spilled energy still recovers; blank = worthless. Doubles as the battery's cost when charging from that spill. Explained in → V3 · Strategy
Spread rule
Dispatch only when value − cost ÷ η_rt − degradation ≥ min spread (default 20 c/kWh). Below it, the battery holds — and tells you so. Explained in → V3 · Strategy · trader walk V6 §11.2
Standing data
The §7.2 answers a Trading Unit must carry — capacities, start-up profile, run limits, ramp rates, classification flags, payment account — each with provenance (engineering_data / measured / assumed / not_supplied). The 30-field catalogue gate refuses :REGISTERED while any field is unsupplied; structurally enforced items (name, TUID, zone, PoDs) sit outside that count. Captured first in the Register generator site wizard. Explained in → V9 §3.7 · V9 §3.9A
Statement
The immutable per-party document assembled from a settlement's ledger — what you owe and what you are owed, versioned and content-hashed. Explained in → V0 §3.3 · V8 §9
Settlement volume basis
On a virtual PPA, whether the CfD multiplies generated volume (buyer carries matching risk), matched volume only (seller carries it), or generated volume subject to a floor. Joint term with no silent default — the parties must choose. Explained in → V7 §4.7 · V7 §9
Termination notice
A party's formal notice that an agreement will end early under a listed termination event. It runs a notice clock (and sometimes a cure window), and when it takes effect the last settlement window can carry a leaving payment. Distinct from a Termination Order, which ends a party's right to trade on the market. Explained in → V8 §12.18 · V7 §4.10
Termination Order
The order ending a party's participation. It changes who may trade and nothing about who owes: payment obligations continue, and Required Credit Cover stays in place until every amount is paid — which can be months later. Explained in → V9 §3.15
Trading Clearing Account
Where trading and capacity payments flow in and out: at the Market Bank in the Market Operator's name, on trust. The money is yours, the Market Operator may not mix it with its own, and the interest accrues to you. Explained in → V9 §3.16
Typed profile
Optional engineering data with fields and validation appropriate to a plant’s technology. A missing profile leaves the existing forecast default in place. On Overview this is the Unsold profile fold. Same idea as plant profile. Explained in → V4 §4.2 · V4 §18
Uncovered out-leg
A trader sell period that sits on no linear chain for the month — a paper commitment, or a buy leg missing from settlement. Counted on the Outcomes book check; the conservation chart paints the matching energy as the red tail past the bought ceiling. Explained in → V6 §6A.9 · V6 §6A.12
Unexplained (kWh)
On a trader chain volume bridge: the residual after first-leg supply minus permitted loss, contract spill and banked energy, compared to last-leg delivered. Zero (within 1 kWh) means the bridge closes; a non-zero value is the named break quantity — never silently absorbed. Explained in → V8 §10.6 · V8 §10.2
Unrecovered
On a single curtailment claim, max(claim − final, 0) once a final determination exists. On the Curtailment claims totals strip it is the sum of that remainder on CLOSED and RECONCILED rows that were not withdrawn or closed as historical-not-lodged. The tile is #claim-total-unrecovered. Distinct from Cash at risk (still-open files), from Annual exposure (the year-ahead estimate), and from the Money Room sentence Unrecovered curtailment. Explained in → V4 §10.4 (row) · V4 §10.7 (tile)
Unrecovered curtailment
The Money Room Loss Ledger sentence for kind curtailment_unrecovered on Panel 4 (#money-panel4): finished-file leftover for the selected organisation period (month, year-to-date, or rolling 12), printed as Unrecovered curtailment — {MWh} not deemed · ≈ R …. Drafts and superseded versions never inflate it. It is not Annual exposure and there is no Annual exposure tile on this page. Explained in → V16 §5 · kind list V16 §8.3 · IPP relationship V4 §10.5
Unsecured Bad Debt
An uncured Shortfall (§15.3.4(8)). Held by the Market Operator as trustee and agent for the participants beneficially interested, charged across them in proportion to their total payments in the month, and recovered outside the Dispute Resolution Process — a defaulter cannot slow recovery by disputing it. Default Interest accrues throughout, compounded monthly from the day after the due date. Explained in → V9 §15.3
Validated Dispute
A Settlement Dispute the Dispute Resolution Board has decided requires a statement to change (§2.1(219)). Materiality then decides which rerun carries the correction — and §15.5(3) applies that rerun to every participant, not only to the one who raised it. Explained in → V9 §15.6
Verified metering
Metering data finalised within seven days of the Trading Day (§12.2(2)) — every reading actual, none estimated or substituted. Official balancing prices and initial settlement statements are built on it and on nothing else; a day carrying one substitution is not verified, however much of it is. Explained in → V9 §14.3
Volume correlation
The effective-dated matrix of how two plants' generation (volume errors) move together — do they sag on the same hours, or miss each other? Combined-fleet VaR uses it so plants that move in lockstep are not treated as if they offset. On IPP Fleet → How sure are we? → Assumption sources, the eyebrow is Volume correlation. Pair badges: estimated (n = … h) (computed from overlapping hourly residuals; n is the hour count actually used, and the default floor to qualify is 720 hours), default — no history yet (technology and province register), or manual. An inconsistent matrix is refused rather than quietly repaired; no stochastic snapshot is written from a refused version. Explained in → V4 §2.2
Volume basis
The energy quantity a money figure is computed on — matched, contracted, or generated volume — stated in the same line as the Rand amount. Distinct from settlement volume basis (the virtual CfD multiplier choice). Explained in → V7 §3.4c · V7 §3.5b
Story drawer
The right-hand Fleet detail panel (#fleet-story-drawer): branded green header, eyebrow IPP Sites / Fleet details, close (X) top-right, backdrop, Escape. Explore the fleet, Review the sales plan, See buyer exposure, Understand the estimate, How sure are we? and Review the assumptions all use this shell; chapter 04's three rows leave the dashboard instead. It reports; it does not place a bid. Explained in → V4 §2.1
Stored marginal cost
What a discharged kWh really cost: charge cost ÷ η_rt + degradation. Carried as the BESS_DISCHARGE line's buy price for margin provenance. Explained in → V3 · Strategy
Strike ladder
The seller's public virtual quote: typically two priced rows (flat and time-of-use). Floors stay on the private negotiating brief and are never sent. Unlike a physical price card, the ladder does not collapse when the buyer replies — structure stays joint. Explained in → V7 §9 · V7 §3.4b
Strike price
The fixed price a CfD settles against — the hedge line both parties agreed. May be flat or time-of-use; together with the WER credit it sets the buyer's net cost of hedged energy. Explained in → V7 §9 · V0 §5.2
Submission
What a Trading Unit actually sends the market, and not a price and a volume: for every hour of the next seven days, how much it can produce (or draw), a five-block price curve for it, a flexible indicator and three reserve availability indicators. 168 Trading Periods, contiguous and aligned; every version is kept, and a re-submission for the same day supersedes rather than overwrites. You build and Validate it on Bid Desk → Submissions. Explained in → V9 §4.8 · V10 §12.3
Superseded
An older artefact replaced by a newer one for the same scope, kept for history. In Strategy: a simulation or nomination run excluded from "latest". In the Deal Room: a proposal replaced by re-propose or a cross-instrument counter (SUPERSEDED status) — linked forward, still readable, never re-accepted. Explained in → V3 · Strategy · V7 §3.5e · V7 §3.5d
System Operator (SO)
The party responsible for keeping the physical power system secure — network zones and transfer limits, constrained schedules, dispatch and curtailment instructions, reserve certification, and system-condition declarations. Distinct from the Market Operator (auctions and money). Instructions change what good delivery means for imbalance and are compensated under ancillary rules, not by quietly rewriting the day-ahead energy price. Explained in → V12 §1 · V9 §1.6 · V10 §8 · V12 §4 · V12 §5 · V12 §6
System condition
The SO's declared grid stress level (LOW / MEDIUM / HIGH) — the Bid Desk banner. Context, not a command. Explained in → V12 §3.2
Take-or-pay minimum
The least energy a year a buyer pays for under a physical PPA whether or not it takes it (top_min_volume_mwh_yr, formerly labelled ToP min volume). It should sit at or below the energy the deal allocates: above it, the buyer would pay for energy the contract never delivers, and the seller studio refuses to send. Explained in → V7 §3.4a
Target
The value you would prefer on a term — stored on your negotiating brief and used by gap analysis and decline findings. Distinct from walk-away (the line you will not cross) and from the public ask on the proposal. Explained in → V7 §3.5 · V7 §4.3
Tariff
A priced structure of charges and rates — seasons, TOU periods, blocks — owned by Eskom or a municipality and versioned over time. Explained in → V0 §3
Teardown / tombstone
Deleting exactly a run's registered rows (zero row-count difference) while keeping the run row itself — log + KPIs preserved, data gone, status TORN_DOWN . Explained in → V14 §10.6 · V14 §8
Terms badge (Sales Desk)
The letter the Sales Desk gives every set of identical deal terms — capacity, price, term, contract type and pool — so runs on the same terms compare buyers rather than deals: Terms A, Terms B… Shown on the candidate card, the impact card and the comparison row, and used by the Same terms filter. Called the Params badge before 3.27.51. Explained in → V4 §6.5
TLF
Transmission loss factor — scales energy for losses on the transmission network, looked up by zone and voltage from Eskom's effective-dated tables. On an off-taker site, Eskom TLF distance band records how far the buyer sits from Megawatt Park so the load-side factor can be found: ≤ 300 km, > 300 and ≤ 600 km, > 600 and ≤ 900 km, or > 900 km. Creating the site does not require the band. Explained in → V0 §1 · V5 §2.2
Tolerance (recon)
The don't-bother threshold, max(R 50, 0.1%) by default, configurable per registration. Variances inside it are logged but not flagged. Explained in → V9 §8
Tolerance breach probability
From the scenario set: the chance the realised residual lands outside the contract's imbalance band around the nomination — penalty exposure, flagged ⚠ per plan. Explained in → V3 · Strategy
ToP utilisation %
Allocated ÷ available take-or-pay (FIRM-pool) energy — how much of your must-pay supply is actually earning. On the trader Overview the Structural position label is Take-or-pay used (TOP_UTILISATION_PCT). On Book · Forecast it is the fifth tile only when the run has no battery KPIs. Explained in → V6 §4.2 · V6 §6.12 · V3 · Strategy
TOU (Time of use)
Time-of-use tariff periods — peak / standard / off-peak — on the SAST calendar. Tariffs price by period; contracts carry per-period multipliers; forecasts and settlements split energy across them. Explained in → V2 §8.2 · V4 §6.7
Trigger (AshOban)
A resource-scoped scheduled action (e.g. expire stale proposals hourly; activate SIGNED physical PPAs daily). Distinct from the Oban crontab workers. Explained in → V21 §3
Typical day
On Book · Forecast, the long-or-short chart: every line of the picked run grouped by SAST clock hour, then divided by the number of days in the period. Stack above the demand line is long (spill); line above the stack is short (shortfall). Distinct from Overview's clock, which adds a Tomorrow toggle and a clip strip. Explained in → V6 §6.15 · Overview V6 §4.6
Trader pool
A licensed energy trader's trading vehicle: no meter of its own; buys from generators and sells to consumers, carrying trading rights, treatments and saleable capacity. Explained in → V0 §3 · V6 §2 · V6 §2B · V2 §5
Trader pool draft
The durable working record for a partly completed trader-pool registration (trader_pool_onboarding_cases). Created by Add New on Trader Pools, opened at /org/trader-pools/onboarding/:id, resumed from the amber Trader pool drafts rail. The live pool is written only when you press Create trader pool. Edit on a live pool reuses the same URL with that pool attached — Save changes updates it and does not create a second book. Explained in → V6 §2B
Trading Day
Midnight to midnight of real-time market operation — always exactly 24 Trading Periods. South Africa has no daylight saving, so there is no 23- or 25-hour day and no repeated hour; the platform asserts this rather than assuming it. Explained in → V1 §1.3
Trading Period
One standard hour, starting at minute 00 — the grain of every wholesale volume, price and penalty. Finer data (five-minute, four-second) is evidence, summed to hours before any money is calculated. Explained in → V1 §1.3
Trading Unit
What the market registers, as distinct from your book, which is what you organise: a bundle of metering points that may not span more than one network zone. The same thing as the book for a single-site generator; at least two of them for a portfolio with generation in one zone and customers in another — nominated, scheduled and balanced separately. Explained in → V9 §3.3 · V12 §2
Treatment
The PPA's curtailment-risk clause, resolved per instruction window: DEEMED_ALWAYS / BUYER_RISK (buyer pays 100% of deemed), SHARED (50%), SELLER_RISK (0 — the generator absorbs it). On the IPP Curtailment tab those allocations classify the claim's regime. Explained in → V3 · Strategy · V4 §10.6
Truthful-bidding invariant
The Phase-3C hard rule: no forecast value may move a bid-ladder rung. Enforced by a regression test; grounded in uniform-price clearing, where shading a reservation price can only lose. Explained in → V3 · Strategy
Unconstrained schedule
The first of the day's two clearings: the cheapest way to meet the submitted demand, ignoring the network. It sets the SMP and your energy payment is struck on it — including megawatt-hours the constrained schedule later says you may not produce. Congestion is deliberately kept out of the market price and compensated separately. Explained in → V9 §4.14
Uniform-price clearing
Blind auction: an offer clears when its price ≤ SMP, a buy when its limit ≥ SMP — and all cleared volume trades at the SMP, not at the bid. Bid prices are reservation prices. Explained in → V3 · Strategy
Uncredited excess
Fleet generation that landed in a quarter-hour when no enrolled meter could use it (or above what the fill could match). Always reported on the Virtual Wheeling refund; earns nothing unless the account opts in to route it to a trader pool as a spill-credit line. Never carried to another quarter-hour or TOU window. Explained in → V17 §5 · V17 §8
Unsold %
Generation with no buyer ÷ total generation — the revenue gap, and the shape the Sales desk scores buyers against. Explained in → V4 §4
Use-of-System (UoS)
The network charges for using the wires: TUoS (transmission), DUoS (distribution), ETUoS (Eskom's retail TUoS). Which ones apply depends on the wheeling path's topology. Explained in → V0 §1
Value at Risk (VaR)
A modelled shortfall against the average leftover for a chosen period (the platform convention is loss relative to expected: average leftover minus the poor leftover). Picture a bakery: the model writes a pile of made-up days, and a separate pile of made-up months. VaR-95 means: in 95 of 100 of those made-up days (or months), the shortfall against the average is smaller than this Rand amount; in the worst 5 it is this amount or worse. It is a gap, not a cash pile you already hold, not a maximum loss, and not a call you will definitely pay. One-day VaR-95 and One-month VaR-95 are separately sampled piles — not the day number × 30 or × √30. On IPP Fleet → Understand the estimate (drawer title What the risk estimate means) they are the two tiles; the one-month tile is the green combined fleet bar. Chapter 03 compares that month with sites added together. The fold Distribution data prints leftover grades (P05 / P50 / P95), not the gap. Explained in → V4 §2 · V4 §2
Variance (recon)
MO − internal , signed: positive means the MO's figure is higher than yours. Explained in → V3 · Strategy
Vesting contract
A regulator-imposed two-way contract for difference on a legacy generation unit. A published determination names the unit, a declining MW-per-TOU profile, a vesting price, and a counterparty (usually the Central Purchasing Agency). It is not a Bid Desk trade and not a negotiated PPA. Each period settles vested MWh × (vesting price − SMP); the curve walks the plant from a regulated tariff onto spot. Explained in → V10 §13.5 · V11 §21.13 · V9 §19
Virtual PPA (VPPA)
A purely financial PPA — a contract for difference settled against a reference price. No delivery obligation; the buyer keeps buying grid energy and the contract hedges the price. Explained in → V0 §5
Virtual Wheeling account
The named portfolio registration Eskom refunds: one account holder, many generators and meters enrolled against it, one consolidated WER credit note per month at 15-minute grain. Identity is vwa_account_ref. Distinct from a site's VWA application status on Supply. Explained in → V17 §1 · V17 §2 · V17 §8
VWA
Eskom's Virtual Wheeling arrangement. An Eskom-connected off-taker site records its VWA application reference, registration status (Not Submitted / Pending / Registered / Conditional) and approval date — prerequisites for virtual deals settled against Eskom. On onboarding Supply the same status words also cover a municipal wheeling application. Explained in → V5 §2.3 · V2 §3
Walk-away
Your private reservation on a term — the line you will not cross. Stored only on your negotiating brief; never sent with the proposal. Distinct from a published floor or cap that is part of the offer. Explained in → V7 §3.5
Warehouse rule
On trader Book · Outcomes: Σ sell ≤ procured. Green badge when sold energy sits inside what was bought; rose Sold more than procured otherwise. The everyday picture is a warehouse stocktake — you cannot honestly have sold more flour than you took in. Explained in → V6 §6A.9
Warning Limit
An early-warning threshold on your credit exposure, capped by the Market Governance Committee. You may set it lower than the cap and never higher — the point is a warning you choose for yourself, and the cap protects every other participant from you. Explained in → V9 §3.16
Warning Notice
Issued when the difference between Posted and Required Credit Cover falls to the Warning Limit (§2.1(226)). It fires while the participant is still covered — that is what makes it a warning rather than a call. A participant may set its own limit, capped at the maximum the Market Governance Committee sets. Explained in → V9 §15.4
wb-interval-1
The published file schema for a person-uploaded interval file (JSON envelope or CSV). Offset-bearing interval starts, feed grain, mandatory quality; extra columns refuse the whole file. Served at /api/v1/publication/interval-schema. Explained in → V2 §7.7
Weather forecast
Per-generator-site issued series (irradiance / wind / plant curve) used to plan and to bid. A later issue of the same hour is the nowcast. Every issued row is kept so a 03:00 bid remains explicable at 15:00. Mock adapter is the default in every environment. On IPP Overview the three-day Weather outlook is P50 generation against committed. Explained in → V0 §11 · V0 §6 · V4 §4.6 · V4 §17
Webhook
A doorbell on your system: you paste an HTTPS URL and tick its topics (for example invoice.issued); the platform POSTs a signed JSON body when that news happens (Standard Webhooks; secret prefix whsec_, shown once). It is not a feed into Webill. The outbound pathway is the EVENT feed events:webhook_out. Configuration offers only the three organisation topics that knock today; the Market API page lists the whole vocabulary — see the topic table. Explained in → V21 §11.1 · V13 §13
WER (Wheeled Energy Refund)
Eskom's virtual wheeling credit on qualifying consumption (WEPS / local / non-local positions) — refunded on the off-taker's bill. With a CfD, credit + CfD locks the off-taker on the strike. Also called the WER credit or Gen-Wheeling credit; rates vary by the buyer's Eskom tariff category and TOU. On a Virtual Wheeling account the same kernel becomes one consolidated credit note per month to the account holder. Explained in → V0 §5.2 · V7 §9 · V8 §14 · V17 §4 · V17 §6
WER credit
See WER (Wheeled Energy Refund).
Where the cascade runs dry
On IPP Allocation Rules, the right-hand card #hierarchy-exhaustion (heading Where the cascade runs dry) and its 24-cell exhaustion strip. Each South African Standard Time clock hour is coloured by the last allocation step that received energy on a typical day of the last settled month — the last completed month, never the current one: Priority, Pro-rata, Fixed, or reached Surplus. Amber on the strip is labelled reached Surplus — did not run dry (leftover exists; it is not a warning that the cascade emptied). Grey means that clock hour never settled. The strip is a receipt of the settled month, not a preview of the draft. The same strip sits under Outcomes' hour chart. Not the market debit-note cascade. Explained in → V4 §7.9
Wheeling
Moving energy across the shared grid from a private seller's connection point to a buyer's: the network delivers the energy, the contracts decide who pays whom. On strategy screens, also the c/kWh network charge for that transport, applied on delivered energy. Explained in → V0 §1 · V3 · Strategy
Wheeling status
A municipality's participation level: WHEELING (enabled), PARTIAL, PILOT, or NONE. Drives site eligibility banners, accreditation options and the market maps' colours. Explained in → V2 §9
Wiring gutter
The middle strip on trader Book · Rules (#book-wires between the Supply and Demand columns). Solid coloured arrows are supply-pool Shape match rules that name a destination demand pool: colour is the supply type, the word is the rule. You create one on the supply card's Rules modal by setting Target pool to a named demand pool. A dashed red curve labelled rest → spill · N % is leftover supply from the latest forecast, not a rule. Hidden on a phone-width board. Explained in → V6 §5.7.2 · reading V6 §5.7
Zone constraint flag
The System Operator's runtime statement that a zone's imports, exports, or both are constrained (§3.3(6)). Raised and lifted on /so/network-model?tab=map. It is not part of the published network model. While a flag is in force, members of a Balancing Group who are pushing in the constrained direction drop out of the group for those Trading Periods only — a computed exclusion, not an administrative suspension. Explained in → V12 §5.5 · V9 §3.6
λ (risk aversion)
The book's risk-appetite dial for the CE (default 0.5): 0 = risk-neutral (CE = P50), 1 = plan on the pessimist's price (CE = P10). The Bid Desk card's slider. Explained in → V10 §12.3.9 · V3 · Strategy