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In the Welsh case, the asset-owning bit would be a "virtual utility" employing just 120 people.
Far from being a "virtual utility", Welsh Water will have all the necessary staff and resources to monitor and control the performance of contractors and to step in should this ever prove necessary.
Aside from some hugely popular exclusives – a new Batman Arkham City adventure just for the Wii U, with the emphasis on puzzle solving using the new additional screen which also serves as a sort of virtual utility belt, nice feature for middle-aged gamers like me who get confused trying to find where the gear you collect during the game is stashed... it's now right in front of you, Grandpa!
Virtual utility?
Customer verifications can be virtual, utility bills paid at the touch of a button, money transfers are almost instant and customers in the most remote areas can access banking through their mobile phones.
And by the way, taking the future virtual utility approach also solves the problem that continues to plague the Nigerian economic mindset.
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Some innovative concepts such as microgrids and virtual utilities will be presented.
"Virtual utilities" would then aggregate the micropower from various sources in real time and sell it to the grid.Energy-storage devices will be increasingly important too.
This happens when the allocation rule obtained via pointwise optimization is not incentive compatible, which is possible even with strictly increasing virtual utilities.
With independent bidders' types and possibly interdependent valuations, the seller's problem can be reduced to a search problem in which the surplus is measured in terms of virtual utilities minus search costs.
Whether run in competition with established utilities, or by them, such virtual utilities would, according to Goran Lindahl, head of ABB, a large European generating-equipment company, result in "greater system reliability, lower operating costs, reduced environmental impact and improved overall business".
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