the rate of currency conversion that equalises the purchasing power of different currencies. It makes allowance for the differences in price levels and spending patterns between different countries.
Working together to ensure reliable, affordable and clean energy
Glossary
The following definitions reflect those used by the International Energy Agency (IEA); definitions used by other organisations and publications may vary.
p.p.
percentage points
PAFC
phosphoric acid fuel cells
PAR
performance appraisal report
PCC
pulverised coal combustion
PCI
pulverised coal injection
PDS
public distribution system
PE
private equity
PEFC
polymer electrolyte fuel cells
PEM
proton exchange membrane
PHEV
plug-in hybrid electric vehicles
PLDV
passenger light-duty vehicle
PM
particulate matter
PM2.5
particulate matter with a diameter of 2.5 micrometers or less
PPI
Private Participation in Infrastructure
PPP
purchasing power parity
PSA
production-sharing agreement
PV
photovoltaic
photovoltaic (PV)
directly convert solar energy into electricity using a PV cell; this is a semiconductor device that converts solar energy into electricity. (See also ).
plug-in hybrid electric vehicle (PHEV)
contain both an internal combustion engine and a motor with battery pack. In contrast, a regular hybrid vehicle does not have enough battery storage on board to be worthwhile adding a plug-in capability. PHEVs tend to have a shorter electric-driving range than EVs, but conversely have the benefit of a back-up internal combustion engine should the battery get drained.
power generation
fuel use in electricity plants, heat plants and combined heat and power (CHP) plants. Both main activity producer plants and small plants that produce fuel for their own use (autoproducers) are included.
price cap
a cap set on the price of traded emissions allowances.
private equity
money invested in companies that are not publicly traded on a stock exchange or invested as part of buyouts of publicly traded companies in order to make them private companies.
project finance
the financing of long-term infrastructure, industrial projects and public services, based upon a non-recourse or limited recourse financial structure where project debt and equity used to finance the project are paid back from the cashflow generated by the project.
purchasing power parity (PPP)
pkm
passenger km
ppm
parts per million (volume)