Power and energy systems are very complex, and several tools are available to assist operators in their planning and operation. However, these tools do not allow a sensitive analysis of the impact of the interaction between the different sub-domains and, consequently, in obtaining more realistic and reliable results. One of the key challenges in this area is the development of decision support tools to address the problem as a whole. Tools Control Center - TOOCC - proposed and developed by the authors, enables the co-simulation of heterogeneous systems to study the electricity markets, the operation of the smart grids, and the energy management of the final consumer, among others. To this end, it uses an application ontology that supports the definition of scenarios and results comparison, while easing the interoperability among the several systems. This paper presents the application ontology developed. The paper addresses the methodology used for its development, its purpose and requirements, and its concepts, relations, facets and instances. The ontology application is illustrated through a case study, where different requirements are tested and demonstrated. It is concluded that the proposed application ontology accomplishes its goals, as it is suitable to represent the required knowledge to support the interoperability among the different considered systems.