Market Power Mitigation
Often generators reside in load pockets where physical competition is constrained due to insufficient transmission. Virtual bidding allows virtual traders to compete to supply power within the constrained area. For this benefit to exist the type of virtual bidding must allow bid submission at the nodal level or at the constrained area level.
Read more about this topic: Virtual Bidding
Famous quotes containing the words market, power and/or mitigation:
“I respect not his labors, his farm where everything has its price, who would carry the landscape, who would carry his God, to market, if he could get anything for him; who goes to market for his god as it is; on whose farm nothing grows free, whose fields bear no crops, whose meadows no flowers, whose trees no fruit, but dollars; who loves not the beauty of his fruits, whose fruits are not ripe for him till they are turned to dollars. Give me the poverty that enjoys true wealth.”
—Henry David Thoreau (1817–1862)
“In this our talking America, we are ruined by our good nature and listening on all sides. This compliance takes away the power of being greatly useful.”
—Ralph Waldo Emerson (1803–1882)
“Law is a thing which is insensible, and inexorable, more beneficial and more profitious to the weak than to the strong; it admits of no mitigation nor pardon, once you have overstepped its limits.”
—Titus Livius (Livy)