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Glossary

Discover the definition of the key terms often used on Watts.Happening and enrich your knowledge of flexibility

Allocated Capacity: This is the capacity awarded to an asset if its Capacity Bid is successful in the capacity balancing auction.
AvailabilityFactor: This measures the percentage of time an asset is available for operation, accounting for scheduling, maintenance, and unforeseen events.
Bid Allocation Percentage: This percentage indicates to what extent the Capacity Bid is considered as Allocated Capacity by the model. If it equals 100%, it means that the asset capacity is rewarded for every auction in which it participates.
Capacity Bid: This is a simulated bid that reflects the participation of the asset in a capacity balancing auction.

Capacity Bidding Price: This is the minimum price below which the asset will not participate in a balancing auction. It is expressed in € per MW per hour.
CapacityRemuneration: This refers to the payment made to an asset owner for providing available capacity to the power grid.
Downward Capacity: This refers to the ability of the asset to increase its electricity consumption or to reduce its electricity production.
Upward Capacity: This is additional electricity generation capacity or a reduction in electricity consumption that can be made available to the power grid.

Activated Capacity: This is the amount of capacity activated by Elia on a minute-by-minute basis.
Activated Energy: This corresponds to the sum of the Activated Capacity over a quarter of an hour, translated into energy.
Activation Merit Order: This corresponds to all the energy bids that are available and can be activated by Elia for each quarter of an hour. There are two separate Activation Merit Orders: one for upward activation and one for downward activation.
Activation Profile: This profile represents the strategy applied by the asset in terms of bidding for energy activation of balancing services. There are three types of profiles: Active, Passive, and Neutral.
CCTU: This stands for ‘Capacity Contracting Time Unit’ and refers to either a period of 4 hours or the whole day for which the Capacity Bid offered by the asset to ELIA can be activated as an Energy Bid.
Energy Bid: This is a simulated bid that reflects the participation of the asset in the Activation Merit Order.
Energy Activation Percentage: This indicates the proportion of time the asset is activated to provide flexibility. 100% means that the asset is offering flexibility at full power all the time, while 0% means that it has never been activated.
Energy Bidding Price: This price is linked to the Energy Bid and is defined by the model according to the Activation Profile. It corresponds to an estimate of the bidding price of the asset in relation to the Activation Merit Order.

Energy Cost Savings: This is the amount of money saved on energy costs by activating downward energy.
Energy Remuneration: This refers to the payment made to an asset owner for providing energy to the power grid if requested by Elia.
Global Control Target of aFRR: This target is equivalent to the minute-by-minute volumes of aFRR capacity required to balance the electricity grid. A positive amount means that Elia has activated Upward Capacity, while a negative amount means that Downward Capacity has been activated.
Last Bid Value Down: This is equivalent to the position of the Energy Bid of the Passive Activation Profile in the Activation Merit Order for downward flexibility.
Last Bid Value Up: This is equivalent to the position of the Energy Bid of the Passive Activation Profile in the Activation Merit Order for upward flexibility.
Mid Bid Value Down: This is equivalent to the position of the Energy Bid of the Neutral Activation Profile in the Activation Merit Order for downward flexibility.
Mid Bid Value Up: This is equivalent to the position of the Energy Bid of the Neutral Activation Profile in the Activation Merit Order for upward flexibility.

Definitions as provided for aFRR and FCR.

Activation Duration: Represents how long an asset can deviate from normal operation to provide flexibility.
Additional (Asset): This means the asset is under construction, is planned, or is at the stage of an idea.
Asset Status: This status represents the current state of the asset. There are two different statuses: "Existing" and "Additional". This status has an important impact on the capacity remuneration within the framework of the CRM.
Auction Price: This is the weighted average price of all contracted capacity for the corresponding auction year, which depends on the Delivery Period.

Delivery Period: This is the period starting from the 1st of November and ending on the 31st of October (inclusive) of the next year, during which the Capacity Providers are remunerated for making their capacity available.
Derating Factor: This is a ratio that represents the expected contribution of a capacity to security of supply during near-scarcity hours relative to its reference power. It is calculated by dividing the average contribution of the technology during near-scarcity hours by its reference power, and is updated by Elia every year according to the most recent studies.
Existing (Asset): This means that the asset is installed and connected to the Belgian grid.