The Seas Trading Ontology defines concepts and relations to describe ownership, trading, bilateral contracts and market licenses:
Ancillary services are the specialty services and functions provided by the electric grid that facilitate and support the continuous flow of electricity so that supply will continually meet demand (source: Wikipedia).
These include black start capability (the ability to restart a grid following a blackout); frequency response (to maintain system frequency with automatic and very fast responses); fast reserve (which can provide additional energy when needed); the provision of reactive power and various other services. (source: Entso-e)
sub class of: Service
Balancing refers to the process in which a Balance responsible party acts to ensure that demand is equal to supply after markets have closed, in and near real time (source: Entso-e).
The execution of some balancing process on a market.
In economics, market clearing is the process by which, in an economic market, the supply of whatever is traded is equated to the demand, so that there is no leftover supply or demand (source: Wikipedia).
A process executed by some player. The execution of some clearing process on an electricity market.
In economics, a commodity is a marketable item produced to satisfy wants or needs. Often the item is fungible. Economic commodities comprise goods and services (source: Wikipedia).
For instance, the electric energy outgoing of a certain connection point can be a commodity, and have a price:
 seas:outgoingElectricEnergy [ a seas:ElectricEnergyProperty ; seas:price [ a seas:Price ; seas:evaluation [ a seas:Evaluation ; seas:evaluatedValue "200 €"^^xsd:ucum ; seas:hasTradedVolumeContext "12 €/MWh"^^xsd:ucum ] ] ]
An electricity bilateral contract is both a connection between electricity players, and a contract. It only connects electricity traders.
It is linked to some player that validates each trade.
An Electricity Market License is a connection point between a player and a market.
In economics, a good is a material that satisfies human wants and provides utility, for example, to a consumer making a purchase while getting an enough-satisfying product. A common distinction is made between ‘goods’ that are tangible property, and services, which are non-physical (source: Wikipedia).
Load Shifting is the process of balancing the supply of electricity on the network with the electrical load by adjusting or controlling the load rather than the power station output. (source:Wikipedia) .
The execution of some Load Shifting process on a market.
Negative Load Shifting is a Load Shifting which occurs when the load is less than the initial request.
The execution of some Negative Load Shifting process on a market.
Positive Load Shifting is a Load Shifting which occurs when the load is greater than the initial request.
The execution of some Positive Load Shifting process on a market.
In economics, a service is an economic activity where an immaterial exchange of value occurs. When a service such as labor is performed the buyer does not take exclusive ownership of that which is purchased, unless agreed upon by buyer and seller. The benefits of such a service, if priced, are held to be self-evident in the buyer’s willingness to pay for it (source: Wikipedia).
sub class of: Commodity
Links an electricity player to its electricity market license.
Links an evaluation to its traded volume validity context.
for instance .
<myConnectionPoint> seas:outgoingElectricEnergy <whatIGive> . <whatIGive> seas:price <priceOfWhatIGive> . <priceOfWhatIGive> seas:evaluation <evaluationOfThePriceOfWhatIGive> . <evaluationOfThePriceOfWhatIGive> a seas:Evaluation ; seas:evaluatedValue "200 €"^^cdt:ucum ; seas:hasTradedVolumeContext "12 €/MWh"^^cdt:ucum .
This concept needs polishing … please ping me if necessary.
Links a system to the one and only player that owns it.
Links a commodity to the one and only player that trades it.
Links some connection to a player that regulates what’s happening through that connection.
Links a player to a system it owns.
Tax for the commodity, quantified as a percentage of something.
Functional sub properties of seas:tax must precise what that something is.
Links a player to a commodity it trades.
An Electricity Player can trade electricity on an Electricity Market.
<http://market.com/> a seas:ElectricityMarket . <http://agregator.com> a seas:ElectricityTrader ; seas:tradesElectricityOn <http://market.com/> . <http://otheragregator.com> a seas:ElectricityTrader ; seas:tradesElectricityOn <http://market.com/> .
These connections are qualified with class seas:ElectricityMarketLicense.
<http://agregator.com> seas:hasElectricityMarketLicense <http://market.com/license12> . <http://otheragregator.com> seas:hasElectricityMarketLicense <http://market.com/license32> . <http://market.com/> seas:connectsSystem <http://agregator.com> , <http://otheragregator.com> . <http://market.com/> seas:connectsSystemAt <http://market.com/license12> , <http://market.com/license32> .
An Electricity Player can trade electricity directly with another electricity player, through an electricity bilateral contract. They then exchange some of the commodities they trade.
These connections are qualified with class seas:ElectricityBilateralContract.
A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of general consumption tax that is collected incrementally, based on the value added, at each stage of production and is usually implemented as a destination-based tax, where the tax rate is based on the location of the customer (source: Wikipedia).
The value added tax is quantified as a percentage of the nett price.