Glossary
Here you will find explanations of key terms used in energy and energy transformation.
Democratization of Energy
The democratization of energy is the strengthening of the role of the end customer in the electricity market. Customers have the opportunity to generate, sell, and possibly share electricity. In the future, they could even influence the final price they pay for electricity through their behavior.
Energy Exchange
An energy exchange is an organized market where energy, primarily electricity and gas, is traded. The energy exchange ensures the financial settlement of all executed trades. Trades can either take place in auctions, where supply and demand are gathered in one place and evaluated at a specific time, determining the price of electricity by matching offered and requested quantities. Alternatively, trading can be continuous, where supply and demand are matched in real-time for a given period (e.g., hourly or quarter-hourly) based on surplus or insufficient electricity.
Energy Community
An energy community is a group of people who have commercial relationships related to energy. It is a broader concept than "Energy Community" and "Renewable Resource Community" concepts.
Energy Transformation
Energy transformation refers to the transition from current concepts in energy to new ones. Energy began as a "one-way" system, where electricity was generated in power plants and sent to customers. Nowadays, this "one-way" system no longer applies, as customers can generate electricity and send it to the grid. Energy transformation revolves around four D’s: Decentralization, Decarbonization, Democratization, and Digitalization – these terms are explained separately in the glossary.
Energy Community
An energy community is a group of people or businesses who have decided to form or join a community to improve the energy, social, economic, or environmental conditions in the given community. It can be compared to a cooperative. Unlike an active customer, the community must be registered not only with the EDC but also with the Energy Regulatory Authority as a legal entity. You can share with up to 999 other members, so the total number of members can be up to 1000, acting as customers or electricity producers. The only restriction is that the members must be located close to each other – within the territories of no more than three municipalities with extended competence or within the territory of Prague.
Energy Management
Energy management is a set of activities and processes aimed at optimizing energy usage in buildings, industrial enterprises, and organizations with minimal impact on their internal structure. The goal of energy management is to reduce energy costs, increase energy efficiency, and minimize environmental impact. Energy management can include planning energy production and consumption, monitoring and controlling energy usage, optimizing installed power, energy audits, and further strategies for managing energy.
Energy Assessment vs Audit vs Feasibility Study
An energy assessment is a document that summarizes information on how a subject performs according to technical, ecological, and economic parameters set by the energy assessment requestor, including results and evaluations. In contrast, an energy audit is a set of activities aimed at reducing overall energy costs for a subject. A feasibility study is a document that describes and analyzes an investment plan from economic, technical, legal, and environmental perspectives, covering all major aspects of the project.
Phase (study) vs Project
In a study, you analyze the feasibility, possibilities, and risks of a proposal. It's a kind of research on what, where, when, and for how much something can be done, with a conclusion offering recommendations (possibly multiple, depending on scenarios). A project, in contrast, is a clearly defined plan to implement a proposal, typically based on a study, and aims to put the proposed solution into practice.
Community Energy
Community energy is a concept focused on the production, consumption, sharing, accumulation, and distribution of electricity within an energy community.
Energy Sharing and Community Sharing
Energy sharing is a process where a customer or organization shares surplus energy they have produced with other customers or organizations. Community sharing refers to sharing electricity within a defined energy community.
Renewable Resources Community
A renewable resources community is essentially the same as an energy community but can additionally produce other forms of energy (such as heat or gas) from renewable sources.
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