The glossary of terms is arranged alphabetically. Click on the letters below to find terms beginning with that letter.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Margin: Funds or good faith deposits posted during the trading life of a futures contract to guarantee fulfillment of contract obligation.
Margin Call: A demand for additional or variation margin funds when futures prices move adversely to a trader's position.
Market Area Hub: An interchange where a shipper can gain access to multiple transportation paths, flexible supply/delivery points, and imbalance protection through short-term storage and borrowing services.
Marketing Affiliate: Most usually a marketing company with corporate ties to a pipeline or distributor. The Federal Energy Regulatory Commission (FERC) issued Order 497 in 1988, which was designed to curb any cozy relationships an interstate pipeline marketing affiliate might have with either the transportation or sales departments of the pipeline.
Marketer: A company, other than the pipeline or LDC, that buys and resells gas or brokers gas for a profit. Marketers also perform a variety or related services, including arranging transportation, monitoring deliveries and balancing. An independent marketer is not affiliated with a pipeline, producer or LDC.
Mcf: 1,000 cubic feet. The average domestic user consumes 100-200 Mcf annually. Very roughly, 1 Mcf = 1 MMBtu = 1 Dth = 1 gigajoule.
Mega-NOPR: The informal title of a Notice of Proposed Rulemaking issued in 1991 by the Federal Energy Regulatory Commission (FERC). The Mega-NOPR encompassed comprehensive revisions to pipeline operations and rate-making, including unbundling of al services, the adoption of straight fixed variable rates and comparability of service. The Mega-NOPR became Order 636.
MMBtu: 1,000,000 British Thermal Units. Generally accepted as a rough equivalent of a Mcf. MMcfc 1,000,000 cubic feet.