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Scope 2 emissions
The component of indirect greenhouse gas emissions attributable to the consumption of electricity.
The factors presented through such medium as the National Greenhouse Accounts, that outline the scope 1, 2 and 3 carbon dioxide equivalent emissions, per unit of energy, for various fuel types.
Short-Term Energy Market
The element of the Western Australian Wholesale Electricity Market that provides a mechanism for market participants to ‘balance’ already contracted positions, also referred to as a ‘net pool’. See also Gross pool market, Net pool market and South West Interconnected System.
Small-Scale Renewable Energy Scheme
An Australian Government scheme designed to increase the proportion of energy produced from prescribed small-scale renewable energy systems. The Small-Scale Renewable Energy Scheme places an obligation on liable parties (wholesale purchasers of electricity – primarily, energy retailers) to purchase a required amount of Small-Scale Technology Certificates from providers or owners of prescribed technologies each year.
Small-scale technology certificates
Certificates created under the Small-scale Renewable Energy Scheme in the online REC Registry administered by the Office of the Renewable Energy Regulator. Technologies covered include correctly installed eligible solar water heaters, heat pumps, and small-scale solar panels, wind, and hydro systems. End users may be able to benefit from creation of Small-scale technology certificates (e.g. if they install eligible technologies). One certificate is equivalent to 1 MWh (megawatt hour) of:
- renewable electricity generated by the solar panel, small-scale wind or small-scale hydro system (unless a Solar Credits multiplier applies); or
- electricity displaced by the installation of a solar water heater or heat pump.
See also Small-scale Renewable Energy Scheme.
South West Interconnected System
The primary electricity grid of Western Australia. It supplies the majority of the South West region from Albany in the South, to Kalgoorlie in the East and Kalbarri in the North.
A market where products or commodities are traded for immediate delivery. This contrasts with forward or future markets where the trade is for delivery of the product or commodity at some time in the future.
The wholesale market clearing price for a specific trading interval. It is based on bids that generators or gas traders have submitted detailing the quantity of energy they will supply for a given price, and ranked in order from lowest to highest price. See also Regional Reference Price and Dispatch Price.
The price parties agree to in a forward contract.