Positive Energy: how renewable electricity can transform ... - WWF UK

Electricity Market Reform – In December 2010, the government submitted
proposals on the reform of the UK electricity market for consultation. The proposals
include setting an upper limit on emissions from power generations (an Emissions
Performance Standard), scrapping the Renewables Obligation in favour of Feed in Tariffs
for low carbon generation, a Carbon Floor Price to top up the carbon price under the EU
Emissions Trading Scheme and a Capacity Mechanism to ensure sufficient generation
capacity on the system for security of supply.
Feed In Tariff – A long-term contract for electricity generators providing a fixed
payment for every kWh produced.
Gigawatt (GW) – A unit of electricity equivalent to 1,000 MW or 1,000,000kW.
Green Investment Bank – The coalition government have committed to setting up a
new bank which will act as a catalyst for green investment, addressing certain barriers
and market failures which prevent investment in some green technologies.
Indirect Land Use Change (ILUC) – The unintended consequence of releasing more
carbon emissions due to land use changes caused by the increased global demand for
biofuels. Biofuel production can displace feed and food crops, leading to the clearing of
pristine lands for its crops.
Levelised cost – The present value of the total cost of building and operating a
generating plant over an assumed financial life, converted to equal annual payments and
expressed in real terms to remove the impact of inflation.
Load factor – A measure of power output from a generator as a percentage of its
maximum capability.
Open Cycle Gas Turbine (OCGT) – A form of power generation which is less efficient
than CCGT (see above) and often used infrequently at times of peak demand.
Supply led – Renewable electricity sources such as wind and solar whose outputs are
based on weather conditions.
Terawatt hour (TWh) – The use of 1TW of electricity for one hour. Equivalent to
1,000GWh, 1000,000MWh, 10^9 kWh and 10^12 watt hours. Average annual household
electricity consumption is 3,300kWh .
WWF-UK 2011 Positive Energy page 59