Glossary

BESS

Battery Energy Storage System

CapEx

Capital Expenditure

BM

Balancing Mechanism

CM

Capacity Market

DNO

Distribution Network Operator

EPC

Engineering, Procurement, Construction

ESG

Environmental, Social, Governance

IDNO

Independent Distribution Network Operator (private entity licensed by Ofgem to manage discreet sections of distribution networks and interface with National Grid transmission network)

IRR

Internal Rate of Return

LFP

Lithium ferro-phosphate

NEC

NextEnergy Capital

NESF

NextEnergy Solar Fund

NGESO

National Grid Electricity System Operator

NMC

Lithium-Nikel-Manganese-Cobalt-Oxide

O&M

Operation & Maintenance

OpEx

Operational Expenditure

Optimiser

Entity that manages the route to market, ensuring the battery is able to generate anticipated revenues

OtL

Option to Lease

ROFO

Right of First Offer

RTB

Ready to Build

RTM

Route to Market (contracts that allow battery to take part in revenue generating services)

SHA

Shareholder Agreement

SHL

Shareholder Loan

TA

Technical Advisor

PREVIOUS SECTION, 4: From Ancillary Services to Energy Trading

Cookie	Duration	Description
_ga	2 years	The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_gat_gtag_UA_109301815_3	1 minute	Set by Google to distinguish users.
_gid	1 day	Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT	16 years 3 months 2 days 4 hours	YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.

Cookie	Duration	Description
IDE	1 year 24 days	Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile.
test_cookie	15 minutes	The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE	5 months 27 days	A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSC	session	YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devices	never	YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-id	never	YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.