HomeGlossary

Glossary - F

For your convenience, this page contains an alphabetically organized list of terms, definitions and common acronyms used in the electric utility industry.

A B C D E F G H I J K L M
N O P Q R S T U V W X Y Z

Term/Acronym Definition
F&A Finance and Audit
FASD First Available Switch Date
FCE Future Credit Exposure
FED Federal
FERC Federal Energy Regulatory Commission
FGR Flowgate Right
FIP Fuel Index Price
FIPRR Fuel Index Price for Resource

FIS

Full Interconnection Study

FME

Frequency Measurable Event

FOP Fuel Oil Price
FPA Federal Power Act
FRR Final RPS Requirement
FRRS Fast Responding Regulation Service
FRRS-DOWN Fast Responding Regulation Down Service
FRRS-UP Fast Responding Regulation Up Service
Facilities Equipment situated for the purpose of conducting service and/or business through use of the ERCOT System.
Facility Identification Number A number assigned to a renewable Resource facility by ERCOT.
Fast Responding Regulation Down Service (FRRS-Down) See Regulation Service
Fast Responding Regulation Service (FRRS) See Regulation Service
Fast Responding Regulation Up Service (FRRS-Up) See Regulation Service
Final Day-Ahead Schedule Those schedules ERCOT deems valid following the close of the Day Ahead period.
Financing Person The lender, security holder, investor, partner, multilateral institution, or other Entity providing financing or refinancing for the business of another Entity, including development, construction, ownership, operation and/or maintenance of a facility or any portion thereof, or any trustee or agent acting on behalf of any of the foregoing.
Flowgate Right (FGR) See Congestion Revenue Right (CRR)

Force Majeure Event

Any event beyond the reasonable control of, and that occurs without the fault or negligence of, an Entity whose performance is prevented by the occurrence of such event. Examples of such a Force Majeure Event may include the following, subject to the limitations of the above sentence: an act of God, labor disturbance, act of the public enemy, war, insurrection, riot, fire, storm or flood, explosion, breakage or accident to machinery or equipment, or a curtailment, order, regulation or restriction imposed by governmental, military, or lawfully established civilian authorities.

Forced Derate

The portion of the Resource removed from service when the derating exceeds the greater of ten MW or 5% of its Seasonal net max sustainable rating provided through the Resource Registration process.  For QSEs representing Intermittent Renewable Resources (IRRs), the loss of a portion of the capacity shall be due to the unavailability of a portion of the equipment and shall not include capacity changes due to changes in the power source (e.g., wind speed at the Wind-powered Generation Resource (WGR) facility for a WGR, or changes in solar irradiance at the PhotoVoltaic Generation Resource (PVGR) facility for a PVGR).  

Forced Outage See Outage

Frequency Measurable Event (FME)

An event that results in a frequency deviation, identified at ERCOT’s sole discretion, and meeting one of the following conditions:

(a) A frequency deviation that has a pre-perturbation [the 16-second period of time before t(0)] average frequency to post-perturbation [the 32-second period of time starting 20 seconds after t(0)] average frequency absolute deviation greater than 100 mHz (the 100 mHz value may be adjusted by ERCOT to capture 30 to 40 events per year); or

(b) A cumulative change in generating unit/generating facility, Direct Current Tie (DC Tie), and/or firm load pre-perturbation megawatt value to post-perturbation megawatt value absolute deviation greater than 550 MW (the 550 MW value may be adjusted by ERCOT to capture 30 to 40 events per year).

Fuel Index Price (FIP)

The midpoint or average of the daily index prices for fuel for each Operating Day for the Houston Ship Channel area (Houston Ship Channel), expressed in dollars per million British thermal units ($/MMBtu). ERCOT shall issue a Market Notice disclosing the name of the ERCOT-selected source for the average daily index prices used to calculate FIP. In the event that the ERCOT-selected index becomes unavailable, or ERCOT determines that the index has become unsuitable for the intended purpose, ERCOT may select a substitute index source. ERCOT shall issue a Market Notice disclosing its intent to use a substitute index source and the name of the substitute index source at least 60 days prior to the beginning of its use, or as soon as practicable.  The effective dates for daily index prices shall be as indicated in the ERCOT-selected index. For Saturdays, Sundays, holidays, and other days for which the ERCOT-selected index source does not publish an effective price, the effective price shall be the effective price for the Operating Day following the holiday or day without a published price. If, at the time of calculation of peaking operating cost of System-Wide Offer Cap, or at the time of settlement or calculation of generic costs, the described midpoint or average price for a particular Operating Day is not available, the effective price for the most recent preceding Operating Day shall be used.

Fuel Oil Price (FOP)

An average of the daily index prices for fuel oil for each Operating Day, plus five cents per gallon, for U.S. Gulf Coast, Houston pipeline No. 2 oil, converted to dollars per million British thermal units ($/MMBtu). The conversion is 0.1385 MMBtu per gallon. The effective dates for daily index prices shall be as indicated in the ERCOT-selected index. In the event, at the time of settlement or calculation of generic costs, that the effective price for a particular Operating Day is not available, the effective price for the most recent preceding Operating Day shall be used.  ERCOT shall issue a Market Notice disclosing the name of the ERCOT-selected source for the average daily index prices used to calculate FOP. In the event that the ERCOT-selected index becomes unavailable, or ERCOT determines that the index has become unsuitable for the intended purpose, ERCOT may select a substitute index source. ERCOT shall issue a Market Notice disclosing its intent to use a substitute index source and the name of the substitute index source at least 60 days prior to the beginning of its use, or as soon as practicable.

Full Interconnection Study (FIS)

The set of studies conducted by a Transmission Service Provider (TSP) for the purpose of identifying any electric system improvements or enhancements required to reliably interconnect a new All-Inclusive Generation Resource consistent with the provisions of Planning Guide Section 5, Generation Resource Interconnection or Change Request.  These studies may include steady-state studies, system protection (short-circuit) studies, dynamic and transient stability studies, facility studies, and sub-synchronous oscillation studies.