Natural Gas Glossary - Corpus Christi Electric
BCF - One Billion Cubic Feet
One BCF is one billion cubic feet of natural gas at standard distribution pressure of 14.73 pounds per square inch and 60° Fahrenheit.
Bid Week
The five business days immediately preceding the first of the month. During bid week, all financial positions must be closed out. Financial positions serving as hedges for physical natural gas transactions must be converted into physical supplies. Physical trading activity throughout bid week is the basis of the price index numbers printed in Inside F.E.R.C.’s Gas Market Report.
BCF - One Billion Cubic Feet
One BCF is one billion cubic feet of natural gas at standard distribution pressure of 14.73 pounds per square inch and 60° Fahrenheit.
BTU - British Thermal Unit
The heat required to raise the temperature of a one-pound mass of water by one degree Fahrenheit. One BTU is equivalent to 252 calories, 0.293 watt-hours, or 1,055 joules.
CCF - One Hundred Cubic Feet
One BCF is one billion cubic feet of natural gas at standard distribution pressure of 14.73 pounds per square inch and 60° Fahrenheit.
City Gate
The point of demarcation between a natural gas transmission pipeline and the local distribution company. The city gate is the most common point of sale in the retail natural gas business, since transfer of control and risk of loss between the marketer (who is also typically the shipper of record on the pipeline) and the LDC happens at this point.
Cubic Foot (CF)
The most common measurement of gas volume. One Cubic Foot is equal to the amount of gas required to fill one cubic foot under standard temperature and pressure. 1 Cubic Foot is approximately 1,025 British Thermal Units (BTUs). 100 Cubic Feet = 1 CCF.
DT - Dekatherm
One dekatherm of natural gas contains one million BTU (one MMBTU) of energy. One dekatherm is equivalent to 10 therms.
Demand Day
That 24-hour period specified by a supplier-user contract for purposes of determining the purchaser's daily quantity of gas used (e.g., 8 AM to 8 AM, etc.). This term is mainly used in pipeline-distribution company agreements. It is similar to, and usually coincides with, the distribution company "sendout day".
FERC - Federal Energy Regulatory Commission
This federal agency is in charge for the regulation of the production, transmission and sale of natural gas and electric power, as well as the transportation of oil.
Premise
The rate plan price for each therm of natural gas consumption.
Rate Plan
This describes the type of plan and pricing details for your natural gas service. Details include whether the plan is fixed or variable, the Rate per Therm and the Customer Service Fee. Fixed rate plan details include the term of the rate plan and business rate plans include the Interstate Pipeline Charges.
Therm
The unit for measuring natural gas consumption used to compute Gas Charges based on your Rate per Therm.