Exchange

See energy exchange.

A type of energy exchange in which one electric utility agrees to supply electricity to another. Electricity received is returned in kind at a later time or is accumulated as an energy balance until the end of a specified period, after which settlement may be made by monetary payment. Note: This term is also referred to as exchange energy.

A type of energy exchange in which one company agrees to deliver gas, either directly or through intermediaries, to another company at one location or in one time period in exchange for the delivery by the second company to the first company of an equivalent volume or heat content at a different location or time period. Note: Such agreements may or may not include the payment of fees in dollar or volumetric amounts.

A type of energy exchange in which quantities of crude oil or any petroleum product(s) are received or given up in return for other crude oil or petroleum products. It includes reciprocal sales and purchases.

Delete in favor of the already-defined term exchange energy, which should be renamed exchange, electricity or exchange, electricity.