The most followed European physical index for coal (ARA region). It shows the “CIF” (cost, insurance and freight) price.

Situation where prices of the Forward market are higher at the start of the curve than prices further along the forward curve.

Situation where market participants anticipate a downward movement in market price.

Bank of England : central bank of the United Kingdom.

Bank of Japan: central bank of Japan.

North Sea Oil. The price of a barrel of Brent is used as a reference for the European market and even for a majority of world oils.

Situation where market participants anticipate an upward movement in market price.

Situation where market prices at the start of the forward curve are lower than prices further along the forward curve.

European Central Bank: central bank of the European Union.

European Power Exchange : is a European electric power exchange for the spot market (Intraday and Day-Ahead). EPEX Spot covers countries representing 95% of the European power consumption (Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Luxembourg, the Netherlands, Norway, Poland, Sweden and Switzerland).

Emission Trading Scheme: is the European carbon dioxide emissions trading system. It constitutes one of the cornerstones of European climate policy. More information

European Union Allowances are the credits that are allocated to the companies covered by the EU Emission Trading Scheme (EU ETS). Each one represents the right to emit one tonne of carbon dioxide and are available in limited amount. More information

Federal Reserve: American central bank.

Long-term market: this market allows you to purchase electricity or natural gas for deferred delivery.

Liquefied Natural Gas is gas cooled down to a temperature where it goes from the state of gas to liquid. The energy intensity is therefore increase by 500 times, allowing for efficient transportation by ship.

It is a major distribution center for natural gas to several gas pipelines. It serves as a reference point for calculating the price of natural gas in the United States.

Intercontinental Exchange is a US based global, electronic marketplace for trading energy contracts.

International Energy Agency

Japan Korea Marker: the Liquefied Natural Gas (GNL) benchmark price assessment published by Platts for physical cargoes delivered into Japan, South Korea, China and Taiwan.

In a traded market, liquidity refers to a number factors like the number of active participants, the volumes that can be traded etc.

The specified order in which power plants are operated based on their marginal generation cost (cost to produce an additional unit (fuel, operational and maintenance costs), independent of fixed costs (depreciation, rent, salaries, etc.)).

North Western Europe: France, Belgium, Netherlands and Germany.

Organization of Petroleum Exporting Countries

A long position hold by a market participant means he has purchased a commodity with the expectation that he will sell it later at a higher price.

A short position hold by a market participant means he has sold a commodity with the expectation that he will buy it later at a lower price.

RePowerEU is an initiative by the European Union aimed at reducing dependency on Russian fossil fuels and accelerating the transition to renewable energy sources. It focuses on diversifying energy supplies, improving energy efficiency, and increasing the production of clean energy within the EU. The plan includes measures to boost investments in renewable energy, enhance energy infrastructure, and promote energy-saving practices to ensure a more secure and sustainable energy future for Europe.

Short-term market: this market allows you to purchase electricity or natural gas for immediate delivery (Intraday or Day Ahead).

Title Transfer Facility: European gas price reference. It's related to natural gas operated by GTS, the transmission operator in the Netherlands.

Zeebrugge Trading Point (ZTP) is a key natural gas hub in Belgium. It serves as a reference point for natural gas prices in the region, facilitating the trading of gas on both the spot and futures markets.