Glossary

 

Term Definition
Availability Availability is the number of hours that a generating unit is capable of providing service at full output, whether or not it is actually in service, as a percentage of total hours in the period.
Base load facility A base load facility produces electricity at an essentially constant rate and runs continuously.
Biomass power Biomass power is energy produced by the burning of biofuels, including wood waste from the forestry industry.
Capacity Capacity is the net amount of electricity generated by a generating unit as a percentage of the total possible generation over the period.
Cogeneration Cogeneration refers to the simultaneous production of electricity and thermal energy in the form of heat or steam from a single fuel source, a process that results in high efficiency and an effective use of energy.
Consumer Price Index (CPI) The CPI is an indicator of inflation that measures the change in the cost of a fixed basket of products and services, including housing, electricity, food and transportation.
Direct Customer Rate (DCR) The Direct Customer Rate, which is set by the Ontario Electricity Financial Corporation, is calculated based on a three-year average of the total market cost of electricity to industrial customers.
EBITDA and Adjusted EBITDA Earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA adjusts standardized EBITDA for unrealized gains and losses on derivatives, foreign exchange gains and losses, loss on debt extinguishment, equity accounted income and distributions from equity investments.
Funds from operations EBITDA less interest expense.
Hydro power Hydro power is generated by the natural movement of masses of water.
Hydrology The effect of precipitation and evaporation upon the occurrence and distribution of water in streams, lakes and on or below the land surface.
Intermediate facility Intermediate facilities operate between base load and peaking extremes, curtailing their output in periods of low demand.
Kilowatt (kW) This commercial unit of electrical power, refers to 1,000 watts of electrical power. This is the total amount of power needed to light 10 light bulbs of 100 watts each.
Megawatt (MW) A megawatt is 1,000 kilowatts.
MMBtu A unit of heat equal to one million British thermal units. A British thermal unit is a measure of the quantity of heat, as defined by the quantity of energy necessary to raise the temperature of one pound of water by one degree Fahrenheit.
Payout ratio Payout ratio refers to the percentage of cash flow paid out in dividends to holders of common shares.
Peaking facility A peaking facility is reserved for operation during the hours of highest daily, weekly or seasonal loads.
Power Purchase Agreement (PPA) A PPA is an agreement to purchase electricity at a specified rate for a defined period of time.
Solar photovoltaic (PV) power The generation of electricity directly from sunlight.
Total return The total return on an investment includes income from distributions, as well as unit price appreciation or depreciation, over a given time period.
Watershed A drainage basin where water from rain or snow melt drains downhill into a body of water, such as a river, lake, reservoir, wetland, sea or ocean. The drainage basin includes both the streams and rivers that convey the water as well as the land surfaces from which water drains into those channels.
Watt A watt is the scientific unit of electric power.
Wind power Wind power is generated through the use of a turbine, usually mounted on a tower, which collects wind energy and converts it to electricity.
Yield Yield refers to the amount that MPIC pays out to its common shareholders in the form of dividends and is calculated by taking the amount of dividends paid per share over the course of a year and dividing by the trading price of MPIC's common shares on the Toronto Stock Exchange.