--- title: "Power Market Glossary" url: https://frekansenerji.com/en/glossary/ lang: en description: "Terms, abbreviations and concepts used in the Turkish electricity market, from PTF to KÜPST and from YEKDEM to standalone storage, with the rules that apply…" --- Insights / Glossary # Power market glossary Terms, abbreviations and concepts used in the Turkish electricity market, from PTF to KÜPST and from YEKDEM to standalone storage, with the rules that apply in 2026. 210 terms · 8 categories A ## Active energy charge Supply and consumers The bill item for consumed energy; the part that differs between suppliers. TR Aktif enerji bedeli Related: Distribution charge Bilateral contract ## Aggregation Regulation Regulation and institutions Published 17 December 2024; sets a 2,000 MW cap for generation in an aggregator portfolio, of which 500 MW can be unlicensed. TR Toplayıcılık Faaliyeti Yönetmeliği Related: Aggregator ## Aggregator Regulation and institutions A licensed company taking several sites to market as one portfolio, responsible for imbalance and KÜPST at portfolio level. TR Toplayıcı Related: Balancing Responsible Group Aggregation Regulation ## Ancillary service certificate Storage and flexibility A certificate showing, with tested parameters, that a unit can provide an ancillary service. TR Yan hizmet sertifikası Related: Primary frequency control Secondary frequency control ## Ancillary services Storage and flexibility Services procured for secure system operation besides energy, such as frequency control and reactive power. TR Yan hizmetler Related: Primary frequency control Secondary frequency control Ancillary Services Market ## Ancillary Services Market Storage and flexibility The TEİAŞ process procuring frequency reserves with hourly and block offers; settlement is published monthly by EPİAŞ. TR Yan Hizmetler Piyasası Related: Primary frequency control Secondary frequency control ## Arbitrage Trading, risk and finance Buying energy at a low price and selling it at a high price, as batteries do across hours. TR Arbitraj Related: Spread Battery Energy Storage System ## Asset management Trading, risk and finance Integrated management of an asset’s output, positions, imbalance, settlement and commercial operations. TR Varlık yönetimi Related: Portfolio ## Automatic generation control AGC Grid and technical The automatic set-point signal TEİAŞ sends to units in secondary control. TR Otomatik üretim kontrolü Related: Secondary frequency control National Load Dispatch Centre ## Automatic Meter Reading System OSOS Grid and technical A system that reads meter data remotely and hourly. TR Otomatik Sayaç Okuma Sistemi Related: Meter Load profiling ## Auxiliary source Renewables and support A second source added to the main source, such as solar at a wind site. TR Yardımcı kaynak Related: Main source Multi-source (hybrid) plant ## Available capacity Grid and technical The capacity actually available for use in a given period. TR Emre amade kapasite Related: Installed capacity B ## Balance responsible party Balancing and settlement The participant financially responsible for its own and its group’s imbalances. TR Dengeden sorumlu taraf Related: Balancing Responsible Group ## Balancing and Settlement Regulation DUY Regulation and institutions The regulation governing the spot and balancing markets, imbalance and settlement. TR Dengeleme ve Uzlaştırma Yönetmeliği Related: Energy imbalance Settlement ## Balancing instruction Balancing and settlement An up- or down-regulation order issued by TEİAŞ against balancing offers, paid as bid. TR Dengeleme talimatı Related: Up-regulation Down-regulation Instruction tag ## Balancing Power Market DGP Balancing and settlement The TEİAŞ market where up- and down-regulation offers are used to balance the system in real time. TR Dengeleme Güç Piyasası Related: Up-regulation Down-regulation System Marginal Price ## Balancing Responsible Group DSG Balancing and settlement A group combining several participants’ imbalances; from 2026 a member with an individual imbalance ratio above 5% bears its own imbalance. TR Dengeden Sorumlu Grup Related: Aggregator Energy imbalance Netting ## Balancing unit Balancing and settlement A generation, consumption or storage unit qualified to bid into and receive instructions in the balancing market. TR Dengeleme birimi Related: Balancing Power Market Settlement injection-withdrawal unit ## Baseload Markets and products A product profile delivering the same volume in every hour of the period. TR Baz yük Related: Peak Forward / futures contract ## Battery Energy Storage System BESS Storage and flexibility A system storing electricity chemically and releasing it on demand, earning from arbitrage, frequency control and balancing. TR Batarya enerji depolama sistemi Related: Standalone storage facility Arbitrage Secondary frequency control ## Bilateral contract Markets and products An agreement in which two parties freely set the volume, profile, term and price of electricity; volumes are notified to EPİAŞ. TR İkili anlaşma Related: Over-the-counter market Power Purchase Agreement Eligible consumer ## Biomass plant Renewables and support A plant generating from organic waste; 2,424 MW at the end of August 2026. TR Biyokütle santrali Related: Renewable Energy Support Mechanism ## Block bid Markets and products A day-ahead bid covering several consecutive hours at one price and quantity, accepted or rejected as a whole. TR Blok teklif Related: Day-Ahead Market Hourly bid ## Board decision Regulation and institutions A regulatory decision of the EPDK Board, published in the Official Gazette. TR Kurul kararı Related: Energy Market Regulatory Authority ## Board-set coefficient KBK Supply and consumers The coefficient applied to PTF plus YEKDEM in the last resort tariff: 1.05 for households and 1.0938 for others in 2026. TR Kurulca belirlenen katsayı Related: Last Resort Supply Tariff C ## Capacity factor Grid and technical The ratio of actual output to the output at full capacity over the same period. TR Kapasite faktörü Related: Installed capacity ## Capacity mechanism Regulation and institutions A mechanism under which TEİAŞ pays selected plants for capacity to secure supply. TR Kapasite mekanizması Related: Turkish Electricity Transmission Corporation ## Capacity payment Storage and flexibility Payment for capacity held in reserve, in TL/MW for frequency control. TR Kapasite bedeli Related: Primary frequency control Secondary frequency control ## Capture price Trading, risk and finance The output-weighted average price a plant actually receives; for solar it can fall below the daily average PTF. TR Yakalanan fiyat Related: Capture rate Solar power plant ## Capture rate Trading, risk and finance The ratio of capture price to the period’s average PTF. TR Yakalama oranı Related: Capture price ## Carbon Border Adjustment Mechanism SKDM Renewables and support The EU mechanism pricing the carbon content of imports, relevant for Turkish exporters. TR Sınırda Karbon Düzenleme Mekanizması Related: Renewable Energy Guarantee of Origin Emissions Trading System ## Cash settlement Trading, risk and finance Closing a derivative by paying the difference between the contract and reference price instead of physical delivery. TR Nakdi uzlaşma Related: VİOP power futures Physical delivery ## Central counterparty MKT Trading, risk and finance An entity that becomes buyer to every seller and seller to every buyer; Takasbank on VİOP. TR Merkezi karşı taraf Related: Takasbank Counterparty risk ## Collateral Trading, risk and finance Cash, bank guarantees or other assets provided to secure market obligations. TR Teminat Related: Takasbank Daily advance payment ## Combined renewable plant Renewables and support A plant using several renewable sources; net output is valued under YEKDEM at the lowest applicable price. TR Birleşik yenilenebilir üretim tesisi Related: Multi-source (hybrid) plant Renewable Energy Support Mechanism ## Commercial operation Trading, risk and finance A plant starting to produce and trade after provisional acceptance. TR Ticari işletmeye geçiş Related: Provisional acceptance ## Connection agreement Grid and technical The agreement setting the terms for connecting a site to the grid. TR Bağlantı anlaşması Related: System use agreement ## Connection capacity Grid and technical The maximum power a site can inject or withdraw, set in its connection agreement. TR Bağlantı kapasitesi Related: Curtailment Connection agreement ## Consumer Services Regulation Regulation and institutions The regulation setting minimum terms for supply contracts, billing and withdrawal rights. TR Tüketici Hizmetleri Yönetmeliği Related: Right of withdrawal Low-consumption eligible consumer ## Consumption-integrated storage Storage and flexibility Storage installed at a consumption site, including storage inside industrial zones. TR Tüketim tesisine bütünleşik depolama Related: Storage Activities Regulation ## Continuous trading Markets and products Trading where orders match instantly and each trade executes at its own price, as on the intraday market and VEP. TR Sürekli ticaret Related: Intraday Market Power Futures Market ## Counterparty risk Trading, risk and finance The risk that the other party fails to pay or deliver. TR Karşı taraf riski Related: Collateral Central counterparty ## Curtailment Grid and technical A plant feeding in less than it could because of grid or connection limits. TR Üretim kısıtlaması Related: Connection capacity Storage-integrated generation plant ## Cycle Storage and flexibility One full charge and discharge of a battery. TR Çevrim Related: Degradation D ## Daily advance payment Balancing and settlement Daily payment and collection of day-ahead and intraday trades ahead of monthly settlement. TR Günlük avans ödemesi Related: Settlement Takasbank ## Day-Ahead Market GÖP Markets and products The EPİAŞ single-price auction for each hour of the next day; bids close at 12:30 on D−1 and results are published at 14:00. TR Gün Öncesi Piyasası Related: Market Clearing Price Intraday Market Block bid Hourly bid ## Degradation Storage and flexibility Loss of battery capacity with use and time. TR Degradasyon Related: Cycle ## Demand-side response Storage and flexibility Consumers or aggregators reducing load to support balancing or capacity. TR Talep tarafı katılımı Related: Aggregator Ancillary services ## Deviation charge from final generation plan KÜPST Balancing and settlement A charge generators pay for deviations from the final plan beyond a tolerance band set by source type. TR Kesinleştirilmiş Üretim Planından Sapma Tutarı Related: Final settlement period generation plan Energy imbalance Tolerance band ## Distribution charge Supply and consumers The EPDK-set charge for carrying power over the distribution grid, the same whichever supplier is chosen. TR Dağıtım bedeli Related: Active energy charge Distribution company ## Distribution company Supply and consumers The licensed company running the grid in a region, reading meters and handling faults; reached on 186. TR Dağıtım şirketi Related: Distribution system Distribution charge ## Distribution system Grid and technical The medium- and low-voltage grid delivering power to consumers; Türkiye has 21 distribution regions. TR Dağıtım sistemi Related: Distribution company Transmission system ## Down-regulation YAT Balancing and settlement A TEİAŞ instruction to reduce output or increase consumption, issued when the system is long. TR Yük atma Related: Up-regulation Balancing Power Market Balancing instruction ## Duck curve Markets and products The daily net load shape created by midday solar, explaining the gap between midday and evening prices. TR Ördek eğrisi Related: Solar power plant Spread E ## Electricity consumption tax BTV Supply and consumers A municipal tax on the active energy charge: 1% for industry, 5% for households and commercial users. TR Elektrik tüketim vergisi Related: Energy fund levy Value added tax ## Electricity Market Law 6446 Regulation and institutions Law No. 6446, the main law of the Turkish power market. TR Elektrik Piyasası Kanunu Related: Energy Market Regulatory Authority Licence ## Electricity Market Licensing Regulation Regulation and institutions The regulation on pre-licence and licence types, applications and amendments. TR Elektrik Piyasası Lisans Yönetmeliği Related: Licence Pre-licence ## Eligibility threshold Supply and consumers The minimum annual consumption for supplier choice: 950 kWh in 2024, 750 kWh in 2025, 500 kWh in 2026. TR Serbest tüketici limiti Related: Eligible consumer ## Eligible consumer Supply and consumers A consumer whose current or previous-year consumption exceeds the EPDK threshold and can choose its supplier; 500 kWh in 2026. TR Serbest tüketici Related: Eligibility threshold Bilateral contract Supplier switch ## Emissions Trading System ETS Renewables and support A cap-and-trade system for greenhouse gas allowances. TR Emisyon Ticaret Sistemi Related: Carbon Border Adjustment Mechanism ## Energy Exchange Istanbul EPİAŞ Regulation and institutions The market operator running the day-ahead, intraday, futures and YEK-G markets and handling settlement. TR Enerji Piyasaları İşletme A.Ş. Related: Day-Ahead Market Intraday Market Settlement ## Energy fund levy Supply and consumers A levy formerly charged on the active energy charge; removed from electricity bills together with the TRT levy on 1 January 2022. TR Enerji fonu Related: Electricity consumption tax ## Energy imbalance Balancing and settlement The difference between energy traded and energy actually produced or consumed in a settlement period. TR Enerji dengesizliği Related: Imbalance price Imbalance coefficients (k and l) Deviation charge from final generation plan ## Energy Market Regulatory Authority EPDK Regulation and institutions The independent regulator of the electricity, gas, oil and LPG markets. TR Enerji Piyasası Düzenleme Kurumu Related: Licence Board decision ## EPİAŞ Transparency Platform Markets and products The EPİAŞ platform publishing price, generation, consumption and ancillary data openly. TR EPİAŞ Şeffaflık Platformu Related: Energy Exchange Istanbul Market Clearing Price System Marginal Price F ## Final Day-Ahead Generation/Consumption Schedule KGÜP Balancing and settlement The hourly schedule balancing units submit to TEİAŞ after the day-ahead results. TR Kesinleşmiş Gün Öncesi Üretim/Tüketim Programı Related: Balancing Power Market Final settlement period generation plan Day-Ahead Market ## Final settlement notice Balancing and settlement The notice containing final settlement results for an invoicing period; for August 2026 published on 15 September. TR Faturaya esas uzlaştırma bildirimi Related: Preliminary settlement notice Settlement ## Final settlement period generation plan KUDÜP Balancing and settlement The generation plan finalised for each settlement period, against which KÜPST is calculated. TR Kesinleştirilmiş Uzlaştırma Dönemi Üretim Planı Related: Final Day-Ahead Generation/Consumption Schedule Deviation charge from final generation plan ## Flexibility Storage and flexibility An asset’s ability to change output or consumption quickly in response to prices or system needs. TR Esneklik Related: Battery Energy Storage System Reservoir hydro ## Flexible bid Markets and products A day-ahead bid offering a quantity under a price condition and leaving the matching hour to the algorithm. TR Esnek teklif Related: Day-Ahead Market ## Forward / futures contract Markets and products A contract fixing today the price for a future delivery period; it reduces price risk but not volume risk. TR Vadeli kontrat Related: Power Futures Market VİOP power futures Hedging G ## Generation forecast Trading, risk and finance Predicting a plant’s hourly output from weather and plant data. TR Üretim tahmini Related: Energy imbalance Deviation charge from final generation plan ## Generation licence Regulation and institutions The licence to build and operate a power plant. TR Üretim lisansı Related: Pre-licence ## Generation-integrated storage Storage and flexibility Storage at a plant’s connection point; grid energy cycled through it does not benefit from the plant’s incentives. TR Üretim tesisine bütünleşik depolama Related: Storage-integrated generation plant ## Geothermal plant JES Renewables and support A plant generating from underground heat; 1,798 MW at the end of August 2026. TR Jeotermal enerji santrali Related: Renewable Energy Support Mechanism ## Gigawatt GW Grid and technical A unit of power equal to 1,000 MW. TR Gigavat Related: Megawatt ## Green tariff Supply and consumers A tariff option for buying fully renewable energy, backed by YEK-G certificates. TR Yeşil tarife Related: Renewable Energy Guarantee of Origin ## Grid emission factor Renewables and support The average carbon emissions per MWh drawn from the grid. TR Şebeke emisyon faktörü Related: Renewable Energy Guarantee of Origin Carbon Border Adjustment Mechanism H ## Hedging Trading, risk and finance Fixing prices in advance through futures or bilateral contracts to limit the effect of price moves. TR Fiyat riskinden korunma (hedge) Related: Forward / futures contract Layered hedging ## Hourly bid Markets and products A day-ahead bid made of price-quantity pairs for a single hour. TR Saatlik teklif Related: Day-Ahead Market Block bid Flexible bid ## Hourly netting Renewables and support Netting an unlicensed site’s generation and consumption hour by hour, in force since 1 May 2026 except for households. TR Saatlik mahsuplaşma Related: Unlicensed generation Monthly netting ## Hydroelectric plant HES Renewables and support A hydro plant; at 32,331 MW the largest source of capacity in Türkiye. TR Hidroelektrik santrali Related: Reservoir hydro Run-of-river hydro I ## I-REC I-REC Renewables and support An international renewable energy certificate standard. TR I-REC Related: Renewable Energy Guarantee of Origin ## Imbalance coefficients (k and l) Balancing and settlement Coefficients in the imbalance price; since 1 January 2026, 6% when deviating with the system and 3% when against it. TR Dengesizlik katsayıları (k ve l) Related: Imbalance price System direction ## Imbalance price Balancing and settlement The price at which imbalance settles: MAX(V, PTF, SMF) × (1 + k) for shortfall, MIN(PTF, SMF) × (1 − l) for surplus. TR Dengesizlik fiyatı Related: Imbalance coefficients (k and l) V unit price ## Incumbent supplier GTŞ Supply and consumers The supplier obliged to serve non-eligible and last resort consumers in a region. TR Görevli tedarik şirketi Related: Last resort supply National tariff ## Installed capacity Grid and technical Total generating capacity; Türkiye’s stood at 126,944 MW at the end of August 2026. TR Kurulu güç Related: Megawatt Capacity factor ## Instruction tag Balancing and settlement The code showing why an instruction was issued: 0 energy balancing, 1 transmission constraint, 2 ancillary service. TR Talimat etiketi Related: Balancing instruction System Marginal Price ## Intraday Market GİP Markets and products A continuous market opening at 18:00 on D−1, where each contract trades until 60 minutes before delivery. TR Gün İçi Piyasası Related: Day-Ahead Market Weighted Average Price Continuous trading ## Invoicing period Balancing and settlement The one-month period over which settlement is run and invoices issued. TR Fatura dönemi Related: Settlement K ## Kilowatt-hour kWh Grid and technical Energy equal to one kilowatt over one hour; used on bills and consumer thresholds. TR Kilovatsaat Related: Megawatt-hour L ## Last resort supply Supply and consumers Supply by the incumbent to consumers without a contract or whose supplier has left the market. TR Son kaynak tedariki Related: Last Resort Supply Tariff Incumbent supplier ## Last Resort Supply Tariff SKTT Supply and consumers A tariff for consumers above the threshold without a contract, priced daily at (PTF + YEKDEM) × KBK. TR Son Kaynak Tedarik Tarifesi Related: Board-set coefficient Last resort supply Renewable Energy Support Mechanism ## Layered hedging Trading, risk and finance Pricing parts of the volume at different times and tenors to spread price risk. TR Kademeli fiyat sabitleme Related: Hedging ## Licence Regulation and institutions EPDK permission for generation, supply, aggregation, distribution or transmission activities. TR Lisans Related: Pre-licence Supply licence Generation licence ## Load profiling Balancing and settlement Allocating monthly consumption of non-hourly metered consumers to hours with approved profile coefficients. TR Profil uygulaması Related: Automatic Meter Reading System Settlement ## Local content premium YADF Renewables and support An extra YEKDEM price for plants using domestically produced components. TR Yerli aksam destek fiyatı Related: Renewable Energy Support Mechanism ## Low-consumption eligible consumer Supply and consumers An eligible consumer below 100,000 kWh a year, with a 3-year contract cap, 14-day withdrawal right and mandatory pre-contract information. TR Tüketimi düşük serbest tüketici Related: Right of withdrawal Consumer Services Regulation M ## Main source Renewables and support The primary source of a multi-source plant; output cannot exceed the main-source units’ accepted capacity. TR Ana kaynak Related: Auxiliary source Multi-source (hybrid) plant ## Marginal pricing Markets and products Applying the price of the last accepted bid to all matched trades in the hour, as in the day-ahead market. TR Marjinal fiyatlama Related: Market Clearing Price Pay-as-bid ## Market Clearing Price PTF Markets and products The hourly price set where supply and demand meet in the day-ahead market; the reference price of the Turkish power market. TR Piyasa Takas Fiyatı Related: Day-Ahead Market System Marginal Price Maximum price limit ## Market participant Regulation and institutions A licensed legal entity registered with EPİAŞ and trading in the organised markets. TR Piyasa katılımcısı Related: Energy Exchange Istanbul Licence ## Maximum price limit Markets and products The highest bid price allowed in the day-ahead and balancing markets: 4,500 TL/MWh since 4 April 2026 under EPDK decision 14459. TR Azami fiyat limiti Related: Minimum price limit Market Clearing Price System Marginal Price ## Maximum settlement price AUF Regulation and institutions A temporary 2022–2023 mechanism capping settlement prices by source. TR Azami uzlaştırma fiyatı Related: Maximum price limit ## Megawatt MW Grid and technical A unit of power equal to 1,000 kW; installed capacity is expressed in MW. TR Megavat Related: Megawatt-hour Installed capacity ## Megawatt-hour MWh Grid and technical Energy equal to one megawatt over one hour, or 1,000 kWh; wholesale prices are quoted in TL/MWh. TR Megavatsaat Related: Kilowatt-hour Megawatt ## Message Management System İYS Regulation and institutions The national registry of consents for commercial electronic messages. TR İleti Yönetim Sistemi Related: Personal Data Protection Law ## Meter Grid and technical The device measuring generated or consumed electricity; reading and maintenance are done by the distribution company. TR Sayaç Related: Metering point Automatic Meter Reading System ## Metering point Grid and technical The physical point where energy is measured for settlement. TR Ölçüm noktası Related: Meter Settlement injection-withdrawal unit ## Minimum price limit Markets and products The lowest bid price allowed in the day-ahead and balancing markets: 0 TL/MWh, so prices cannot go negative. TR Asgari fiyat limiti Related: Maximum price limit Negative price ## Ministry of Energy and Natural Resources ETKB Regulation and institutions The ministry setting energy policy and publishing installed capacity statistics. TR Enerji ve Tabii Kaynaklar Bakanlığı Related: Renewable Energy Resource Area ## Monthly netting Renewables and support Netting generation and consumption over a month; since 2026 only for households. TR Aylık mahsuplaşma Related: Hourly netting ## Multi-source (hybrid) plant Renewables and support A plant combining several sources at one connection point under one licence. TR Birden çok kaynaklı (hibrit) üretim tesisi Related: Auxiliary source Main source N ## National Load Dispatch Centre MYTM Regulation and institutions The TEİAŞ centre operating and balancing the transmission system in real time. TR Milli Yük Tevzi Merkezi Related: Turkish Electricity Transmission Corporation Balancing Power Market ## National tariff Supply and consumers The regulated EPDK tariff for non-eligible consumers below the last resort threshold. TR Ulusal tarife Related: Incumbent supplier Last Resort Supply Tariff ## Negative imbalance Balancing and settlement Producing less than sold or consuming more than bought; settled at MAX(V, PTF, SMF) × (1 + k). TR Negatif dengesizlik Related: Positive imbalance Imbalance price ## Negative price Markets and products A price at which generators pay to sell; it cannot occur in Türkiye because the price floor is 0 TL/MWh. TR Negatif fiyat Related: Minimum price limit ## Net instruction volume NTH Balancing and settlement The net of 0-tagged up and down instructions in a settlement period, which sets the system direction. TR Net talimat hacmi Related: System direction ## Net load Grid and technical Total demand minus variable renewable output. TR Net yük Related: Duck curve ## Netting Balancing and settlement Opposite deviations of plants in a portfolio offsetting each other and reducing total imbalance. TR Sönümleme Related: Balancing Responsible Group Aggregator O ## Off-peak hours Markets and products Hours of low demand and usually low prices. TR Puant dışı saatler Related: Peak Arbitrage ## Official Gazette RG Regulation and institutions The official publication in which laws, regulations and Board decisions take effect. TR Resmî Gazete Related: Board decision ## Open position Trading, risk and finance Volume whose price is not yet fixed and remains exposed to the market. TR Açık pozisyon Related: Position Price risk ## Organised industrial zone OSB Supply and consumers An area hosting industrial sites; licensed zones can run their own distribution. TR Organize sanayi bölgesi Related: Distribution company ## Organised wholesale electricity markets Markets and products Markets organised by the market operator, including the day-ahead, intraday, futures and organised YEK-G markets. TR Organize toptan elektrik piyasaları Related: Energy Exchange Istanbul Day-Ahead Market Intraday Market Power Futures Market ## Organised YEK-G market Renewables and support The EPİAŞ market for YEK-G certificates; 2026 fees are 1.00 TL/MWh and 3,000 TL a year. TR Organize YEK-G Piyasası Related: Renewable Energy Guarantee of Origin ## Outage notification Balancing and settlement A plant notifying TEİAŞ that it cannot follow its schedule because of a fault. TR Arıza bildirimi Related: Final Day-Ahead Generation/Consumption Schedule ## Over-the-counter market OTC Markets and products Power trades done directly between parties outside the organised markets. TR Tezgâhüstü piyasa Related: Bilateral contract Counterparty risk P ## Pay-as-bid Balancing and settlement A method paying each instructed unit its own bid price, used for balancing instructions. TR Teklif fiyatından ödeme Related: Balancing Power Market Marginal pricing ## Pay-as-produced offtake Markets and products An offtake model buying a plant’s actual output under an agreed formula, moving volume risk to the buyer. TR Üretime dayalı alım Related: Power Purchase Agreement Volume risk ## Peak Markets and products The time band with the highest demand and usually price; 17:00–22:00 in the three-rate tariff. TR Puant Related: Baseload Three-rate tariff ## Personal Data Protection Law KVKK Regulation and institutions Law No. 6698 governing how suppliers process customer, invoice and meter data. TR Kişisel Verilerin Korunması Kanunu Related: Consumer Services Regulation ## Physical delivery Trading, risk and finance Settling a contract through actual delivery of energy, as with VEP contracts. TR Fiziki teslimat Related: Power Futures Market Cash settlement ## Planned and unplanned outage Grid and technical Supply interruptions for maintenance or faults, handled by the distribution company. TR Planlı ve plansız kesinti Related: Distribution company ## Portfolio Trading, risk and finance The set of generation, consumption and storage assets managed together. TR Portföy Related: Aggregator Balancing Responsible Group ## Portfolio registration Supply and consumers A supplier adding a consumer’s meter to its portfolio in the EPİAŞ system. TR Portföy kaydı Related: Supplier switch ## Position Trading, risk and finance The net of energy bought and sold for a given hour or period. TR Pozisyon Related: Open position ## Positive imbalance Balancing and settlement Producing more than sold or consuming less than bought; settled at MIN(PTF, SMF) × (1 − l). TR Pozitif dengesizlik Related: Negative imbalance Imbalance price ## Post-10-year purchase price Renewables and support For unlicensed plants past 10 years: 90% of the current YEKDEM price for licensed plants, capped at hourly PTF (Decision 11415). TR 10 yıl sonrası alım fiyatı Related: Surplus energy Renewable Energy Support Mechanism ## Post-YEKDEM period Renewables and support The period after a plant’s ten-year YEKDEM term ends and it must choose its own sales channel. TR YEKDEM sonrası dönem Related: Renewable Energy Support Mechanism Bilateral contract ## Power Futures Market VEP Markets and products The EPİAŞ market for physically delivered monthly, quarterly and yearly power contracts; the 2026 trading fee is 3.00 TL/MWh. TR Vadeli Elektrik Piyasası Related: VİOP power futures Forward / futures contract Baseload ## Power Purchase Agreement PPA Markets and products A long-term contract to buy a generator’s output under an agreed price formula. TR Enerji alım anlaşması Related: Bilateral contract Pay-as-produced offtake ## Pre-licence Regulation and institutions A time-limited preliminary permit to obtain approvals before a generation licence. TR Önlisans Related: Generation licence Storage-integrated generation plant ## Preliminary settlement notice Balancing and settlement The notice EPİAŞ publishes before final settlement, open to objections; for August 2026 it was published on 11 September. TR Ön uzlaştırma bildirimi Related: Final settlement notice ## Price risk Trading, risk and finance The risk that spot prices move against an open position. TR Fiyat riski Related: Hedging Volume risk ## Primary frequency control PFK Storage and flexibility Reserve responding automatically to frequency deviations within seconds, paid a capacity price in TL/MW. TR Primer frekans kontrolü Related: Secondary frequency control Ancillary services System frequency ## Profile risk Trading, risk and finance The risk that the hourly shape of output or load differs from the contracted or price profile. TR Profil riski Related: Volume risk Capture price ## Project finance Trading, risk and finance Financing a project against its own cash flows; revenue predictability is key. TR Proje finansmanı Related: Power Purchase Agreement Hedging ## Provisional acceptance Regulation and institutions Official confirmation that a completed plant is fit for operation. TR Geçici kabul Related: Commercial operation R ## Reactive compensation Grid and technical Capacitor or reactor systems installed to offset reactive energy. TR Kompanzasyon Related: Reactive energy ## Reactive energy Grid and technical Non-working energy from the phase difference between voltage and current; consumption above set limits is charged. TR Reaktif enerji Related: Reactive compensation ## Reactive power control Grid and technical An ancillary service adjusting reactive power to keep voltage within limits. TR Reaktif güç kontrolü Related: Reactive energy ## Renewable energy certificate (YEK) Renewables and support A certificate showing a plant is renewable, required to join YEKDEM. TR YEK belgesi Related: Renewable Energy Support Mechanism ## Renewable Energy Guarantee of Origin YEK-G Renewables and support An electronic certificate showing one MWh came from a renewable source, issued by EPİAŞ. TR Yenilenebilir Enerji Kaynak Garanti Belgesi Related: Organised YEK-G market I-REC Green tariff ## Renewable Energy Resource Area YEKA Renewables and support Large renewable sites designated by the ministry and allocated through tenders. TR Yenilenebilir Enerji Kaynak Alanı Related: Ministry of Energy and Natural Resources Renewable Energy Support Mechanism ## Renewable Energy Support Mechanism YEKDEM Renewables and support A feed-in mechanism buying output of YEK-certified plants at a set price for a fixed term; its cost is passed to suppliers. TR Yenilenebilir Enerji Kaynaklarını Destekleme Mekanizması Related: YEKDEM cost Renewable energy certificate (YEK) YEKDEM price ## Reservoir hydro Renewables and support A dam-based plant that can store water and shift output into high-price hours. TR Rezervuarlı HES Related: Hydroelectric plant Run-of-river hydro ## Revenue stacking Storage and flexibility Combining revenue from arbitrage, ancillary services and balancing; the same capacity cannot be sold twice in one hour. TR Gelir katmanları Related: Battery Energy Storage System Arbitrage ## Right of withdrawal Supply and consumers The right of a low-consumption eligible consumer to withdraw within 14 days without reason or fee. TR Cayma hakkı Related: Low-consumption eligible consumer ## Round-trip efficiency RTE Storage and flexibility The ratio of energy discharged to energy charged. TR Gidiş-dönüş verimi Related: Battery Energy Storage System ## Route-to-market Trading, risk and finance Setting up the commercial model and channel through which an asset sells into the market. TR Piyasaya erişim Related: Power Purchase Agreement Bilateral contract ## Run-of-river hydro Renewables and support A hydro plant with little storage, generating with the river flow. TR Nehir tipi HES Related: Hydroelectric plant S ## Secondary frequency control SFK Storage and flexibility Reserve following TEİAŞ’s automatic generation control signal; capacity held for it cannot be offered elsewhere in the same hour. TR Sekonder frekans kontrolü Related: Primary frequency control Automatic generation control ## Settlement Balancing and settlement Calculating and finalising receivables and payables from market activity using meter data, run monthly by EPİAŞ. TR Uzlaştırma Related: Settlement period Preliminary settlement notice ## Settlement injection-withdrawal unit UEVÇB Balancing and settlement The unit, made of one or more metering points, on which settlement is calculated. TR Uzlaştırmaya Esas Veriş-Çekiş Birimi Related: Settlement Metering point ## Settlement period Balancing and settlement The time unit for imbalance and settlement calculations; one hour in Türkiye. TR Uzlaştırma dönemi Related: Settlement ## Single-rate tariff Supply and consumers A tariff with one energy price for all hours. TR Tek zamanlı tarife Related: Three-rate tariff ## Solar power plant GES Renewables and support A PV plant; solar capacity reached 27,914 MW, 22% of the total, at the end of August 2026. TR Güneş enerjisi santrali Related: Capture price Storage-integrated generation plant ## Source share Grid and technical A source’s share of installed capacity; renewables were 62.9% and solar plus wind 34.2% at the end of August 2026. TR Kaynak payı Related: Installed capacity ## Spot market Markets and products Short-term power trading close to delivery on the day-ahead and intraday markets. TR Spot piyasa Related: Day-Ahead Market Intraday Market ## Spread Trading, risk and finance The price difference between two hours, markets or tenors. TR Fiyat farkı (spread) Related: Arbitrage Battery Energy Storage System ## Standalone storage facility Storage and flexibility Grid-connected storage not tied to a generation or consumption site, built under a supply or aggregator licence with at least 2 MW. TR Müstakil elektrik depolama tesisi Related: Battery Energy Storage System Storage Activities Regulation ## State of charge SoC Storage and flexibility The share of a battery’s capacity currently stored. TR Şarj durumu Related: Battery Energy Storage System ## Storage Activities Regulation Storage and flexibility The regulation on generation-, consumption-integrated, standalone, grid and unlicensed storage, amended effective 1 January 2026. TR Depolama Faaliyetleri Yönetmeliği Related: Standalone storage facility Storage-integrated generation plant ## Storage duration Storage and flexibility How many hours a battery can discharge at rated power; MWh divided by MW. TR Depolama süresi Related: Battery Energy Storage System ## Storage-integrated generation plant Storage and flexibility A model giving a tender-free pre-licence for wind or solar equal to committed storage; 28,592 MW across 568 projects by July 2026. TR Depolamalı elektrik üretim tesisi Related: Pre-licence Battery Energy Storage System ## Supplier switch Supply and consumers An eligible consumer moving to another supplier; registered by the last business day before the 6th, it takes effect on the 1st of the following month. TR Tedarikçi değişikliği Related: Eligible consumer Portfolio registration ## Supply licence Regulation and institutions The licence to buy and sell electricity wholesale or retail, also allowing standalone storage. TR Tedarik lisansı Related: Eligible consumer Standalone storage facility ## Surplus energy Renewables and support Energy fed to the grid above consumption after netting; annual output may be at most twice consumption. TR İhtiyaç fazlası enerji Related: Hourly netting Post-10-year purchase price ## System direction Balancing and settlement Whether the system is short, long or balanced in a settlement period, set by net instruction volume. TR Sistem yönü Related: System Marginal Price Imbalance coefficients (k and l) ## System frequency Grid and technical The operating frequency of the grid; nominal 50 Hz in Türkiye. TR Sistem frekansı Related: Primary frequency control Secondary frequency control ## System long Balancing and settlement A state where generation exceeds consumption and TEİAŞ issues net down-regulation; SMF is usually below PTF. TR Enerji fazlası Related: System short System direction ## System Marginal Price SMF Balancing and settlement The hourly price set by 0-tagged balancing instructions in the net direction; equals PTF when the system is balanced. TR Sistem Marjinal Fiyatı Related: Market Clearing Price Balancing Power Market System direction ## System short Balancing and settlement A state where consumption exceeds generation and TEİAŞ issues net up-regulation; SMF is usually above PTF. TR Enerji açığı Related: System long System direction ## System use agreement Grid and technical The agreement governing the terms and charges for using the grid. TR Sistem kullanım anlaşması Related: Connection agreement Transmission tariff T ## Takasbank Trading, risk and finance The institution handling collateral and cash settlement for organised power trades; central counterparty on VİOP. TR Takasbank Related: Collateral Central counterparty ## Tariff group Supply and consumers The consumer’s tariff class, such as residential, commercial, industrial or agricultural. TR Abone grubu Related: Distribution charge Electricity consumption tax ## TEİAŞ connection tender Regulation and institutions A tender allocating grid capacity when demand exceeds it; not required for storage-integrated pre-licences. TR TEİAŞ bağlantı yarışması Related: Storage-integrated generation plant ## Terawatt-hour TWh Grid and technical A unit of energy equal to one million MWh; 229.9 TWh matched in the day-ahead market in 2025. TR Teravatsaat Related: Megawatt-hour Day-Ahead Market ## Three-rate tariff Supply and consumers A tariff with separate prices for daytime, peak and night hours. TR Üç zamanlı tarife Related: Peak Single-rate tariff ## Tolerance band Balancing and settlement The deviation from the final plan accepted without charge in the KÜPST calculation, set by source type. TR Tolerans bandı Related: Deviation charge from final generation plan ## Transmission constraint Grid and technical A grid capacity limit preventing free flow between regions; related instructions carry tag 1. TR İletim kısıtı Related: Instruction tag ## Transmission system Grid and technical The high-voltage grid operated by TEİAŞ. TR İletim sistemi Related: Turkish Electricity Transmission Corporation Distribution system ## Transmission tariff Supply and consumers EPDK-approved charges for using the transmission system; the 2026 tariffs were approved by decision 14204. TR İletim tarifesi Related: Transmission system Distribution charge ## Turkish Electricity Transmission Corporation TEİAŞ Regulation and institutions The system operator running the transmission grid, real-time balancing and ancillary services. TR Türkiye Elektrik İletim A.Ş. Related: Balancing Power Market Ancillary services National Load Dispatch Centre U ## Unlicensed generation Renewables and support Generation without a licence, mainly to meet the owner’s own consumption. TR Lisanssız üretim Related: Hourly netting Surplus energy ## Unlicensed-site storage Storage and flexibility A storage category, since 1 January 2026, for storage built by unlicensed plants. TR Lisanssız tesis depolaması Related: Unlicensed generation Storage Activities Regulation ## Unlicensed-to-licensed transition ruling Regulation and institutions A Constitutional Court ruling annulling the licence fee provision from 10 December 2026, which ends the transition route unless new law is passed. TR Lisanssızdan lisanslıya geçiş kararı Related: Unlicensed generation ## Up-regulation YAL Balancing and settlement A TEİAŞ instruction to increase output or reduce consumption, issued when the system is short. TR Yük alma Related: Down-regulation Balancing Power Market Balancing instruction V ## V unit price V Balancing and settlement A unit price set by Board decision and compared with PTF and SMF in the shortfall imbalance price; initial value 150 TL/MWh. TR V birim fiyatı Related: Imbalance price ## Value added tax KDV Supply and consumers VAT on the bill total: 10% for households and agricultural irrigation, 20% for others. TR Katma değer vergisi Related: Electricity consumption tax ## Variable renewable energy Renewables and support Sources such as wind and solar whose output varies with the weather. TR Değişken yenilenebilir enerji Related: Solar power plant Wind power plant ## VİOP power futures VİOP Markets and products Cash-settled power contracts on Borsa İstanbul’s derivatives market, closed against the average PTF of the delivery period. TR VİOP elektrik vadeli işlem sözleşmeleri Related: Power Futures Market Cash settlement ## Volume risk Trading, risk and finance The risk that actual output or consumption differs from the contracted volume. TR Hacim riski Related: Energy imbalance Price risk W ## Weighted Average Price AOF Markets and products The volume-weighted average price of trades in an intraday contract. TR Ağırlıklı Ortalama Fiyat Related: Intraday Market ## Wind power plant RES Renewables and support A wind farm; capacity stood at 15,434 MW at the end of August 2026. TR Rüzgâr enerjisi santrali Related: Energy imbalance Multi-source (hybrid) plant Y ## YEKDEM cost Renewables and support The per-MWh cost of YEKDEM purchases above market value; EPDK publishes monthly estimates. TR YEKDEM maliyeti Related: Renewable Energy Support Mechanism Last Resort Supply Tariff ## YEKDEM price Renewables and support The TL price, within a US dollar floor and cap, for YEK-certified plants commissioned between July 2021 and 2030. TR YEKDEM fiyatı Related: Renewable Energy Support Mechanism Z ## Zero-price hours Markets and products Hours when PTF clears at the 0 TL/MWh floor, typically spring middays. TR Sıfır fiyatlı saatler Related: Minimum price limit Solar power plant 1 ## 186 power fault line 186 Supply and consumers The distribution companies’ fault and outage hotline. TR 186 Alo Elektrik Arıza Related: Distribution company Planned and unplanned outage Definitions reflect the legislation and EPDK decisions in force as of October 2026. Figures can change by Board decision; legal and commercial decisions should rely on the current text of the legislation. ## Let’s assess what a term means for your asset. [Talk to Frekans](https://frekansenerji.com/en/contact/) Language