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:
“Have you not heard of that madman who lit a lantern in the bright morning hours, ran to the market place, and cried incessantly: “I seek God! I seek God!””
—Friedrich Nietzsche (1844–1900)
“Here far from the city we make our roadside stand
And ask for some city money to feel in hand
To try if it will not make our being expand,
And give us the life of the moving-pictures’ promise
That the party in power is said to be keeping from us.”
—Robert Frost (1874–1963)
“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)