BackwardationWhere the spot price of a commodity is higher than the forward price
Balancing and Settlement Code (BSC)The code by which all electricity providers are obliged to provide by for balancing and imbalacing settlement charges
Balancing MechanismThe process of balancing the demand of supply against the available capacity
Base LoadThe lowest amount of energy being used during non operational hours
BBL pipelineA natural gas pipeline between the UK and the Netherlands
Beach GasGas before it enters the national transmission system
BearishThe general downward movement of the wholesale energy market
BETTAThe British Electricity Transmission and Trading Arrangement introduced in 2005 covering England, Wales and Scotland
BidBusiness Improvement District
Bilateral Energy TradingTrading where two parties enter in to an agreement to deliver a commodity at an agreed date in the future
Brent Crude OilBrent Crude is a major trading classification of sweet light crude oil that serves as a major benchmark price for purchases of oil worldwide
BullishThe general upward movement of the wholesale energy market
Buy-Out FundIf a supplier is unable to meet their Renewal Obligations in a given period they must make payments in to a fund for investment in to renewable technology