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:
“At market and fair, all folks do declare,
There is none like the Boy that sold Broom, green Broom.”
—Unknown. Broom, Green Broom (l. 23–24)
“Fortune, which has a great deal of power in other matters but especially in war, can bring about great changes in a situation through very slight forces.”
—Julius Caesar [Gaius Julius Caesar] (100–44 B.C.)
“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)