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National Balancing Point (NBP)
The National Balancing Point, commonly referred to as the NBP, is a virtual trading location for the sale and purchase and exchange of UK natural gas. It is the pricing and delivery point for the ICE (IntercontinentalExchange) natural gas futures contract. It is the most liquid gas trading point in Europe and is a major influence on the price that domestic consumers pay for their gas at home. Gas at the NBP trades in pence per therm.

National Grid
The National Grid owns the main transmission systems and is responsible for transmitting the electricity from the generator to local areas.

Natural Gas
Naturally occurring gas, predominantly methane, but usually containing some proportions of ethane, propane and butane. Natural gas can be either associated gas or non-associated.

Natural Uranium
Uranium with an isotopic composition as found in nature, containing 99.3% U-238, 0.7% U-235 and a trace of U-234. Can be used as fuel in heavy water-moderated reactors.

Negawatts
A relatively new term used to describe power saved as a result of demand side response.

Night Rate
Expressed in pence (or cents) per kilowatt, the rate charged for consumption during those hours defined by the supplier as 'night'.

Nitrogen Oxides (NOx)
Formed in the combustion process when nitrogen in the air or fuel combines with oxygen.

Nominal Annual Quantity or Nominated Consumption
See Annual Quantity and Maximum Daily Quantity.

Nomination
The amount of gas stated by a gas shipped to flow or trade between counterparties.

Nomination Flow
A notice to xoserve from a Shipper to indicate the request for the offer details for a Supply point (transportation, metering, capacity, commodity costs, etc.)

Non Half Hourly (NHH) Meters
Unlike HH meter a meter reader must visit the site to obtain readings. There are different tariffs available.

Non-Daily Metered (NDM) Supply Point
Volume of gas consumed at supply point is recorded at monthly, quarterly or longer intervals by traditional meter reading.

Non-Domestic
A supply point with an AQ of 73,200 kWh (2,500 therms) is deemed as a domestic site. A supply point with an AQ of over 73,00 kWh is deemed as non-domestic.

Notice of Intent
Formal notice by a consumer or consumer's representative that s/he intends to 'accept' a contract offer, see Acceptance.

Nuclear
Nuclear is a low carbon energy source. Even when all the processes such as construction, uranium mining and enrichment are included, its overall emissions are very low, and surprisingly, comparable to wind power.

Nuclear Fission
The process of splitting the nucleus of certain atoms (e.g., uranium) with the resultant release of heat and radiation, as in atomic bombs or nuclear reactors.

Nuclear reactor
A device in which a nuclear fission chain reaction occurs under controlled conditions so that the heat yield can be harnessed or the neutron beams utilised. All commercial reactors are thermal reactors, using a moderator to slow down the neutrons.

NYMEX
New York Mercantile Exchange.