The glossary of terms is arranged alphabetically. Click on the
letters below to find terms beginning with that letter.
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Z
Rate Base: The investment value established by
a regulatory authority upon which a utility is permitted to earn
a specified rate of return.
Rate Design: The method of classifying fixed
and variable costs between demand and commodity components.
Rate of Return: The percentage that a company
earns on its investment. A pipeline's rate of return is set by
federal regulators.
Rebundling: After pipelines finished unbundling
to create a menu of services under FERC's Order 636, a number of
industry players began offering "rebundled" services. Marketing
companies, as well as pipelines, now offer "one-stop shopping"
to customers who prefer not to do all the footwork themselves in
setting up gas deals.
Receipt Point: The point at which gas is
delivered to or received from a pipeline, such as the
interconnection between a producer's wellhead facilities and the
pipeline system (also see "delivery point").
Releasing Shipper: The original capacity holder
of firm space on a pipeline for which reservation fees are paid.
This party may release capacity for others to use.
Replacement Shipper: Party acquiring capacity
that has been released by another shipper.
Reservation Charge or Fee: A charge paid to
reserve firm transportation capacity on a pipeline. Also
referred to as a demand charge.
Reserves: Estimated volume of recoverable
natural gas in a reservoir, based on drilling and
geological/geophysical information.