Time Weighted Average
A method for calculating an average market price that weights the price in each trading period equally without regard to the level of demand or volume for that period. See also Volume Weighted Average.
Terajoule (1012 Joules).
Volume Weighted Average
A method for calculating an average market price that weights the price in each trading period by the level of demand or volume for that period. See also Time Weighted Average.
Western Australian Wholesale Electricity Market
The electricity market within Western Australia that includes the South West Interconnected System and the North West Interconnected System. See also National Electricity Market.
Whole of business evaluation
Whole of business evaluation is the financial evaluation of an energy efficiency opportunity considering all relevant and quantifiable financial costs and benefits (e.g. energy savings and costs, avoided capital investment, OH&S costs and benefits, reduced maintenance, reduced or increased waste and water usage costs and improved productivity). Whole of business evaluations are used to calculate payback periods.
The price of electricity or gas set through the dynamics of supply and demand by producers and consumers participating in a traded market. The wholesale price fluctuates from period to period and can take on extreme (and sometimes negative) values.