Glossary

 
 
 
The glossary introduces and describes the main terms used in and about Tender365. In case terms are missing or if you have any questions of understanding, please let us know.

Your Tender365 team

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50Herz Transmission GmbH
One of the four power market transmission system operators in Germany. See control areas.

A

API connection
Integration of Tender365 into your in-house systems for automated trading.
API documentation
Will be provided to the users of the platform on request to connect their systems to Tender365.
Agile bidding process
Form of invitation to tender in which the invitation to tender can be terminated prematurely. This is done by the acceptance of a bid by the advertiser.
Amprion GmbH
One of the four power market transmission system operators in Germany. See control areas.

B

Balancing group
All gas products that are currently tradable on Tender365 are traded only at the virtual trading point and in customers own balancing group.
Base price
Specifies the consumption-independent price (in Euro per month) for gas or power. Part of the bid placement.
Baseload
Power profile with constant quantity over the entire delivery period.
Basic data
Input of all relevant basic data when creating tenders.
Bid
Can be placed within the validity of a tender.
Bidder
Counterparty who bids on tender invitations placed on Tender365.
Binding
Bids placed on tenders are binding and cannot be withdrawn.
Binding period for agile bidding process
Validity period of a binding bid. The validity period begins with the submission of the bid and is determined by the bidder when the bid is placed. This validity period cannot be longer than the remaining validity period of the tender.
Binding period for invitation to tender (classic)
Validity period of a binding bid. The validity period begins with the start of the decision period and is determined by the bidder when the bid is placed. The binding period cannot be longer than the decision period.

C

Closure
Is concluded between two counterparties when a bid has been accepted and an invitation to tender has been successfully terminated.
Commodity
Goods for trade on Tender365. In this case, gas and power.
Commodity price
Quantity-dependent price of the commodity.
Companies
Overview of all companies registered on Tender365 and overview of all companies with which your own company has framework agreements.
Contractual party
The contractual parties may be the platform users and Tender365 GmbH.
Control area
Geographically defined areas in the German power market. In Germany, there are four control areas, each of them is managed by a transmission system operator, which is responsible for stability and transport.
Customer
Consumer of gas and/or power volumes

D

Decision period
Period where bids can be accepted for the initiation method "Invitation to tender (classic)". The length of the decision period is determined when the tender is created.
Delivery period
Describes the period when the gas or power will be delivered.
Delivery quantity
Describes the quantity of gas or power in kWh to be transported over a certain period of time. The sum of the delivery quantities of all time slices of a tender is the total delivery quantity.
Direction
When creating a tender, the advertiser can choose between the directions buy and sell.

F

Fixed price
Alternative pricing model to gas index.
Flat delivery
Gas product with constant delivery rate over the entire delivery period.
Flexible delivery (gas)
Flexible gas product in addition to flat and scheduled deliveries.
Framework agreement
Basis for the execution of transactions and trades between two counterparties on Tender365

G

Gas index
Alternative pricing model to fixed price.
Gas quality
Choice of the type of gas on which the tender is based (H-gas / L-gas).
Gaspool
One of the market area operators in the German natural gas market. See market area.
Granularity
For gas and power products, structure of time slices for product types that are not based on a constant delivery rate over the entire delivery period.

H

H-gas
Abbreviation for high calorific gas, which contains a high proportion of hydrocarbons. See also L-gas.

I

Initiation methods
There are different initiation methods for tendering on Tender365, see also Agile bidding process and invitation to tender.
Integrability
Describes the capability to comprehensively embed Tender365 into the platform users' system environment.
Invitation to tender (classic)
Tenders in which the decision period follows the end of the validity period. Within this period, the bids are checked by the advertiser and, if applicable, one of the bids is accepted.

L

L-gas
Abbreviation for low calorific gas, which contains a lower proportion of hydrocarbons. See also H-gas.

M

Market area
Choice of market area in which gas trading should take place.
Market place
Overview of all active tenders on Tender365.
Monthly scheduled delivery
Option for the scheduled delivery of a gas product, in which the time slices have a length of one calendar month in each case.
My bids
Overview of all bids placed by me or my company.
My tenders
Overview of all tenders created by me or my company.

N

NCG
Abbreviation for NetConnect Germany, one of the market area operators in the German natural gas market. See market area

O

OTC trading
Abbreviation for over-the-counter trading, which means off-exchange trading.
Off-peak
Power supply with a constant delivery rate in the time which is not covered by peak load.

P

Peakload
Option for power profiles, where the electricity is supplied with constant delivery rate from Mon-Fri from 8 am to 8 pm.
Pricing model
For gas products it is possible to choose between fixed price and gas index.
Product
Gas and power products available on Tender365.
Profile
Personal profile area including an overview of TenderCoin and permissions

Q

Quality management
EXXETA, as technical operator and developer of the platform software, is certified according to DIN EN ISO 9001:2015
Quarterly scheduled delivery
Option for the scheduled delivery of a gas product, in which the time slices have a length of one quater in each case.

R

Registration process
The registration of new companies will be done digitally. For this purpose, input masks are available under "Register" for new interested parties, where all relevant company data can be entered. Afterwards, an internal verification and subsequent activation of newly registered companies is carried out by means of a defined verification process. This process can take about 1-2 working days.

S

Scheduled delivery (gas)
Gas product with equally long time slices within a constant delivery rate. Day, month and quarter are available for the length of the time slices.
Scheduled delivery (power)
Electricity profile with equally long time slices within a constant delivery rate. 15 minutes and hours are available for the length of the time slices.
Summary
The last step in the creation of tenders and submission of bids. All relevant information is summarised and have to be checked and confirmed by the user.
Supplier
Distributor providing quantities of gas and/or electricity.
Supplier of data
Provides data for the gas price indices.

T

Technical requirements for use
The only technical requirements for the users of the platform are an Internet connection and the use of the current version of one of the following Internet browser: Firefox, Chrome or Internet Explorer (11 or later).
Tender
Term for invitations to tender on Tender365.
Tender365
The name of the platform.
TenderCoin
Accounting unit for Tender365. With TenderCoin tenders are paid. For the creation of a tender, one TenderCoin is always deducted from the company account.
TenderCoin packages
Packages that contain a defined amount of TenderCoin and can be purchased via the platform.
TenneT TSO GmbH
One of the four power market transmission system operators in Germany. See control areas.
Training
Trainings can be requested on demand from Tender365 GmbH and will be offered on www.tender365.energy in the future.
TransnetBW GmbH
One of the four power market transmission system operators in Germany. See control areas.

V

Validity
Describes the validity period of the tender. Bids can only be placed within the validity period.
Verification process
After completion of the registration process, an internal verification and subsequent activation of newly registered companies is carried out by means of a defined verification process. This process can take about 1-2 working days.