Beneficial Term: TERRE (Trans European Replacement Reserves Exchange)
TERRE (Trans European Replacement Reserves Exchange) is a pan-European market for trading reserve electricity. It features all 34 European countries.
Plain English definition
TERRE is a pan-European market for trading reserve electricity. Through TERRE, operators of the high voltage networks (Transmission System Operators) in the participating countries will be able buy reserve electricity in this new market. For example, a British generator that has reserve electricity to sell could trade it with the owner of the high-voltage grid in France.
More detail
TERRE creates a European platform for trading reserve electricity with electricity transmission system operators in nine participating countries, including GB. The project will implement a new Replacement Reserve balancing product, which has been developed by a group of European Transmission System Operators (TSOs). This will enable all TERRE participating Balancing Service Providers (BSPs) to submit bids to National Grid on an hourly basis to fulfill 15 minute delivery periods.