Bulk organic or mineral material used mainly to produce construction mortar and concrete and build roads.
The balancing market is what is referred to as a technical market. That means it is not a place to sell energy. Its purpose is the physical delivery of the energy purchase/sale agreements executed by participants and balancing the demand for electricity with its generation in real time in the national electrical energy system (KSE). The existence of the balancing market is indispensable for the energy market to function. Entities that buy energy have an obligation to participate in this market.
BEST AVAILABLE TECHNOLOGY – BAT
The most efficient and sophisticated level of technology development and methods for conducting a given business. BAT are defined for various branches of industry. In the energy sector BAT forms the basis for determining borderline emission quantities, among others, to eliminate, or if that is not practicable, limit emissions and their overall environmental impact.
Denotes a biodegradable fraction of products, waste and residue from agricultural and forestry production and related branches of industry, including fishing and aquaculture, and biogas and a biodegradable fraction of industrial and communal waste.
Certificates confirming the generation of energy from agricultural biomass.
Bond market. It is run on the transaction platforms of the Warsaw Stock Exchange and BondSpot.
CCS TECHNOLOGY (CARBON CAPTURE AND STORAGE)
Carbon dioxide capture, transport and geological storage technology.
CCU TECHNOLOGY (CARBON CAPTURE AND UTILISATION)
Capture and use (management) of carbon dioxide, eg. in the the chemical industry.
The rock material taken from the mine face. It includes the mineral and gangue.
Group of coals with the particle size distribution from 25 mm to 200 mm. This group includes in particular cube coal (63-200), nut coal (25-80).
CORPORATE SOCIAL RESPONSIBILITY, CSR
Corporate Social Responsibility – business philosophy and management strategy calling for an organization to take responsibility for the impact exerted by its decisions and actions on society and the environment. Its foundations are rooted in ethical and transparent conduct, taking into consideration the expectations of stakeholders and cultivating good long-term relations with the overall environment. Corporate social responsibility is one of the key methods of achieving sustainable socio-economic development.
Contractual clause, order or ban imposed on a borrower to minimize the risk of its invsolvency. Covenents most frequently constitute protection for sources of debt payment to creditors, e.g. by banning further borrowing or disposing of assets.
Strategy to acquire and retain customers in this time of growing competition.
Portion of a company’s net earnings per share designated for payment to shareholders.
Earnings Before Interest, Taxes, Depreciation and Amortization.
It is a product that belongs to the group of eco-friendly coal fuels, intended for boilers with automatic feed. It is one of the medium coals, with the particle size distribution being specified from 5 mm to 31.5 mm (in TWD 5–25 mm). This product holds a certificate of the environmental security mark awarded by the Institute for Chemical Coal Processing in Zabrze.
Using electric vehicles, both individual vehicles such as an electric car, electric scooter, electric motorcycle and electric bicycle and public transport means: trams, trolleybuses and trains.
The assumptions for the Electromobility Development Plan and the domestic framework for the policy of alternative fuel infrastructure development call for there being one million electric vehicles on Polish roads by 2025.
TAURON is conducting research and analyses on developing, promoting and disseminating electromobility among Polish nationals, developing the electromobility industry in Poland and in particular collaborating in launching and implementing the findings of scientific and technical work in this area.
Moreover, jointly with PGE, Energa and Enea, TAURON has submitted an application to the Office of Competition and Consumer Protection to receive a permit to establish a company called ElectroMobilityPoland to create grounds for developing electromobility.
Eco Management and Audit Scheme, an EU instrument to encourage all types of organizations to improve their environmental protection constantly. Functions on the basis of Regulation (EU) no. 1221/2009 of the European Parliament and of the Council of 25 November 2009 on the voluntary participation by organizations in a Community eco-management and audit scheme (EMAS). The EMAS requirements constitute guidelines for organizations to structure their environmental protection duties, optimize costs and effectively manage energy and resources. EMAS is also a system for reporting an organization’s environmental impact making it easier to conduct dialogue in this area with stakeholders. Registration in the EMAS system means that an organization has satisfied the most rigorous environmental requirements.
EMERGENCY COLD RESERVE (IRZ)
Mechanism introduced by the transmission system operator in 2016. It involves the TSO paying the owners of generation sources which are planned to be withdrawn for keeping them ready to run in response to the operator’s instruction during the anticipated periods of capacity shortage.
ENERGY FROM DISTRIBUTED SOURCES
Generation of energy by small generation units or facilities connected directly to distribution grids or located in the user’s electrical energy grid that usually generate electricity from renewable energy sources or non-conventional sources, frequently in cogeneration with the generation of thermal energy (distributed cogeneration). The following parties, for instance, may be part of a distributed generation grid: prosumers, energy cooperatives and municipal power plants.
ENERGY REGULATORY OFFICE (ERO)
Government authority regulating the Polish energy market (electricity and gas, among others).
ENTERPRISE RISK MANAGEMENT (ERM) SYSTEM
Set of rules, standards and tools to accomplish the fundamental objective of risk management i.e. ensuring the security of the TAURON Group’s operations. This system is regulated by the document entitled Enterprise Risk Management System in the TAURON Group, defining the TAURON Group’s enterprise risk management framework and rules.
CO2 emission unit.
FINE CARBONATE SORBENT
Fine carbonate sorbent (limestone powder) – is a product derived from the process of dehydrating and profound milling of limestone whose active ingredient is calcium carbonate, CaCO3. Fine carbonate sorbent is used in processes to desulfurize flue gas – to remove SOx.
Group of coals with the particle size distribution from 0 mm (optionally from 1 mm – for coal covered by the Act on Fuel Quality Monitoring System) to 31.5 mm. This group includes fine coal i (0/1-31.5mm), fine coal ii (0/1-20mm), fine coal iii (0/1 – 6/10);
The rock that is extracted from a deposit of a given mineral that is considered to be unusable waste.
GLOBAL REPORTING INDEX (GRI)
Independent international organization whose mission is to create a joint global framework for communicating responsibility and sustainable development. The GRI guidelines are an international reporting standard for organizations regardless of size, business sector and venue. Their application gives a guarantee of consistency in terminology and indicators.
Certificates of origin, i.e. a document that confirms the generation of electricity with renewable energy sources. The green certificate system has been in force in Poland since 1 October 2005 (and has changed in the new RES Act).
Signifies the equivalence of the production costs of renewable energy with the energy generated in conventional power plants.
Generating electrical or mechanical energy and usable thermal energy in cogeneration to save the original energy used in the cogeneration unit in an amount no lower than 10% compared to the generation of electrical energy and thermal energy in separate systems or in a cogeneration unit with an installed electricity capacity under 1 MW compared to the generation of electrical energy and thermal energy in separate systems.
HV AND MV LINES
HV – high voltage grid in which the voltage ranges from 110 kV. This grid is used to transmit electrical energy over large distances.
MV – medium voltage grid, i.e. an electrical energy grid in which the electrical voltage ranges from 1 kV to 110 kV. Medium voltage is broadly used in electrical energy grids to transmit electrical energy over medium distances and switch energy. It is used as an intermediate voltage between high voltage and low voltage connected to end-users.
International Financial Reporting Standards – standards and their interpretations approved by the International Accounting Standards Board (IASB).
Losses because of the impairment of non-current assets taken in accordance with the regulations of international accounting IFRS (MSSF) standard.
INTERNATIONAL INTEGRATED REPORTING COUNCIL (IIRC)
The International Integrated Reporting Council is an organization whose purpose is to create globally accepted integrated reporting guidelines based on combining financial, environmental, social and corporate governance reporting in a clear, succinct, coherent and comparable format. It consists of global leaders such as the International Federation of Accountants (IFAC), the International Accounting Standards Board, the United Nations Environmental Program (UNEP), the International Organization of Securities Commissions, the World Business Council for Sustainable Development and the Global Reporting Initiative (GRI).
Internet of Things – concept according to which clearly identified objects may directly or indirectly collect, process or exchange data via computer network.
International integrated reporting standard encompassing financial and non-financial data devised by IIRC.
ISO 14001, PN-EN ISO 14001:2005 STANDARD
One of the ISO standards used in managing environmental protection. This standard designated for all organizations regardless of their type and size defines the requirements whose satisfaction supports the achievement of environmental (for instance preventing the emission of pollutants) and economic objectives.
Group of coals with the particle size distribution from 5 mm to 40 mm. This group includes pea coal (5–40), pea coal i (e.g. 16–40) and pea coal ii (5–25);
Technological process involving the cogeneration of thermal and electrical energy based on the utilization of small-scale equipment and medium capacities.
Micro-cogeneration may be employed in all facilities in which there is a concurrent need for electrical and thermal energy. The greatest benefits from employing micro-generation are obtained in facilities in which the demand for these two types of energy does not oscillate much or is constant. That is why individual users, hospitals and educational centers, sports centers, hotels and public utilities are usually the most frequent users of cogeneration systems.
Electrical energy micro-grid – set of generation equipment, electrical energy storage and receiver units connected in a joint network to ensure the reliable supply of electrical energy and minimize its cost.
MSCI EMERGING MARKETS EUROPE 10/40 INDEX
Index comprising key companies listed on emerging markets in Europe.
MSCI POLAND INDEX
Index comprising more than 20 key companies listed on the Warsaw Stock Exchange.
Liabilities for loans and borrowings less cash and cash equivalents.
According to the omni-channel idea, the future of commerce is to conduct online sales while simultaneously encouraging customers to make traditional purchases. Online and offline sales during the digital revolution should fluidly penetrate one another.
OPERATING CAPACITY RESERVE (ORM)
Mechanism of providing operational reserves by the Centrally Discharged Units (JWCD), where they were able to deliver electricity to the system, but for market reasons were not used. It was implemented in Poland in 2014.
PEAK POWER GENERATION UNITS
Power generation units used only during a period when the power system has the highest demand for capacity. Power generation units in this class are used fewer than 2000 hours a year.
Parallel generation of energy and other products.
Generation of electricity, chiefly for one’s own needs and on a small-scale in installations harnessing renewable energy sources. Households and businesses that do this are called prosumers, meaning that they simultaneously play the role of energy producer and consumer.
Certificates confirming the generation of energy from methane captured in mines.
Photovoltaic cell (PV) – semi-conductor material in which the energy of solar radiation is converted into electrical energy.
Certificates confirming the generation of energy in highly-efficient coal co-generation.
Renewable energy sources.
Index consisting of companies listed on the Warsaw Stock Exchange to identify companies managed in a responsible and sustainable manner. It takes into account the quality of reporting, the level of investor relations, corporate governance and liquidity, among others, whereby it simultaneously constitutes a real point of reference to measure the attractiveness of companies as investments.
Request for proposal.
System average interruption duration index in the supply of electricity calculated in minutes per user. It is a reliability index whose value is the sum of the products of interruption duration in energy supply and the number of users affected by the consequences of such an interruption during a year divided by the total number of users connected to a grid.
System average interruption frequency index of long interruptions in energy supply. It is a reliability index whose value is the number of users affected by the consequences of all such interruptions during a year divided by the total number of users.
According to the Act entitled Energy Law, a sensitive user is a person to whom a housing allowance has been awarded and who is a party to a comprehensive agreement or electricity sale agreement and who lives in the place where electrical energy is supplied.
Smart city is a project involving the implementation of specific solutions exerting a real impact on citizens. One example is supplying tools to urban residents to monitor energy consumption, among others. This is possible thanks to the special platform called eLicznik (eMeter). TAURON supplies smart meters, for instance, under the Smart City Wrocław project.
Smart electrical energy grids to facilitate communication between participants on the energy market to supply energy services while cutting costs and enhancing efficiency and integrating distributed sources of energy, including renewable energy.
System to control a smart home. SMART HOME technologies control burglar alarms, temperature control and electricity supply systems. This is a real-time power consumption monitoring solution that TAURON offers via a platform to check readings from the smart power meter.
Comprehensive and integrated information system encompassing electrical energy smart meters for users of energy, telecommunication infrastructure, central database and management system. Smart metering systems support two-way communication in real time between information systems and electronic electricity meters installed in customers’ locations. Moreover, they may automate the entire billing process for energy users – from obtaining metering data to processing and aggregating them to issuing invoices.
Control system in a smart home, among others – it is responsible for the safety and living comfort of residents.
Natural or legal entity (individual, community, institution, organization, office etc.) which may affect the company or remain under the influence of its actions.
SUB PEAK POWER GENERATION UNITS
Power generation units used during a period when the power system has a higher demand for capacity. Power generation units in this class are used from 2000 to 4000 hours a year.
TAURON Group’s corporate intranet portal, one of the most important tools of communicating with employees. One of the largest platforms of its type in Poland at the time of publishing this report.
TGE’S FCM INDICES
Towarowa Giełda Energii (TGE) is the power exchange running the following markets: electricity (Forward Commodity Market – FCM), Day-Ahead Market – DAM, Intraday Market – IDM) and gas (FCMg, DAMg) and the Property Right Market.
TOWAROWA GIEŁDA ENERGII S.A. (TGE)
Towarowa Giełda Energii (TGE) (Polish Power Exchange) is the only licensed power exchange in Poland. Presently, TGE runs the following markets: Day-Ahead Market (DAM), Commodity Forward Market with physical delivery (CFM), Property Rights Market for RES and Cogeneration. TGE also keeps a register of the Certificates of Origin for electrical energy produced in RES and in highly efficient cogeneration sources and the CO2 Emission Allowance Market.It is based in Warsaw.
Commodities traded on TGE include electricity, natural gas, as well as CO2 emission allowances (EUA).
Third Party Access – TPA is one of the most important principles (besides unbundling) on which the deregulated energy market is founded. TPA gives an energy user the right to buy it from any energy seller of its choosing.
UNDERGROUND MINING PIT
Space created as a result of mining works.
Weighted average cost of capital.
Certificates confirming the saving of a specific quantum of energy as a result of completing investments to enhance energy efficiency.
Warsaw Inter Bank Offered Rate – interest rate used on the Polish interbank market for interbank loans.
Index comprising all the companies listed on the Main Market of the Warsaw Stock Exchange that fulfill the basic criteria for inclusion in its indices.
Index comprising the 20 largest and most liquid companies listed on the Main Market of the Warsaw Stock Exchange.
Index comprising the 30 largest and most liquid companies listed on the Main Market of the Warsaw Stock Exchange.
Sectoral index comprising companies classified in the energy sector.
National index comprising only the domestic companies listed on the Main Market of the Warsaw Stock Exchange that fulfill the basic criteria for inclusion in its indices.
Certificate certifying the origin of energy. Operators of cogeneration units fired with gaseous fuels or with a total installed power source of less than 1 MW may be compensated with yellow certificates.