Glossary of Terms
J - Joule
A Joule is the rate at which gas energy is produced or used.
kW - Kilowatt
A watt is the rate at which electrical energy is produced or used. One kilowatt is equivalent to one thousand watts.
kWh - Kilowatt hour
kWh is commonly used as the 'unit' of electrical energy. One kWh is equivalent to the consumption of one kilowatt of power over one hour.
Market contract
This is a contract negotiated between you and a retailer and may offer you a better price (or some other benefit) than the standing contract. Market contracts may have a fixed term (generally between one and three years), or could be on-going.
Meter
This device measures your electricity or gas consumption. There are 4 different meter types for electricity and one for gas.
MIRN
MIRN is your Meter Installation Reference Number. This is a unique number used by gas suppliers to identify your individual gas meter.
MJ - MegaJoule
One MegaJoule is equivalent to one million Joules.
MW - Megawatt
One megawatt is equivalent to one hundred kilowatts or one million watt.
MWh - Megawatt-hour
One megawatt-hour is equivalent to one thousand kilowatt-hours.
NMI
NMI is your National Meter Identifier. This is a unique number used by electricity suppliers to identify your individual electricity meter.
Off-peak electricity
Refers to rates the charged for electricity used at a time of day where demand is generally low. For electricity off-peak times are generally 11pm to 7am. The price charged for electricity is generally lower during off-peak times.
Off-peak gas
Refers to the rates charged for gas used at the time of year where demand is generally low. For gas off-peak times are generally 30 September to 1 June inclusive. The price for gas is lower during off-peak times.
Peak electricity
Refers to rates charges for electricity used at a time of day where demand is generally high. For electricity peak times are generally 7am to 11pm. The price for electricity is generally higher during peak times.
Peak gas
Refers to rates charged for gas used in Winter where demand is generally high. For gas peak times are generally 1 June to 30 September inclusive. The price for gas is higher during peak times.
Renewable energy
Renewable energy is energy that is generated from natural resources that cannot be exhausted, such as the sun, wind and water.
Retailer
Retailers buy the electricity and gas from generators and sell it to you. Energy Retailers will have various different plans and services to meet your needs. They bill you and generally manage your relationship with the rest of electricity and gas industry on your behalf.
Smart meter
A smart meter provides a digital reading of electricity usage by time of day. Smart meters are being trialled in several States; when they are installed in your home they will enable you to better manage your electricity usage. It will also enable electricity companies to offer better pricing to consumers who are able to use less electricity during peak times.
Standing contract
This is a basic contract you will be on if you have not entered into any new type of contract since the introduction of competition in 2001, or if you have moved premises and you have not negotiated a market contract. You may be on a standing contract now with AGL, Origin or TRUenergy.
Tariff
This is the price you are charges for your electricity or gas
Unit
A 'unit' of electricity is the common expression used to represent the electricity consumed by (for example) a 1000 watt heater in one hour. It is the same as kWh (Kilowatt hour) above.
Wh - Watthour
The electrical energy unit of measure equal to one watt of power supplied to, or taken from, an electric circuit steadily for one hour.
W - Watt
The unit of electrical power equal to one ampere under a pressure of one volt. A Watt is equal to 1/746 horsepower.
