Mitigation of The Monopsony Power of Load
Load is often large enough to influence the market outcome by varying the quantity they bid into the DA market. Virtual bidding mitigates this power by allowing other market participants to simply bid in the load that was under-scheduled.
Read more about this topic: Virtual Bidding
Famous quotes containing the words mitigation, power and/or load:
“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)
“Power corrupts the few, while weakness corrupts the many.... The resentment of the weak does not spring from any injustice done to them but from the sense of their inadequacy and impotence. They hate not wickedness but weakness. When it is in their power to do so, the weak destroy weakness wherever they see it.”
—Eric Hoffer (1902–1983)
“Men so noble,
However faulty, yet should find respect
For what they have been. ‘Tis a cruelty
To load a falling man.”
—William Shakespeare (1564–1616)