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:
“To market ‘tis our destiny to go.”
—Robert Frost (1874–1963)
“I talk democracy to these men and women. I tell them that they have the vote, and that theirs is the kingdom and the power and the glory. I say to them “You are supreme: exercise your power.” They say, “That’s right: tell us what to do;” and I tell them. I say “Exercise your vote intelligently by voting for me.” And they do. That’s democracy; and a splendid thing it is too for putting the right men in the right place.”
—George Bernard Shaw (1856–1950)
“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)