D. S. Kirschen, "Demand-side view of electricity markets," IEEE Transactions on Power Systems, vol. 18, no. 2, pp. 520-527, 2003.

S. Borenstein, S. P. Holland, "On the Efficiency of Competitive Electricity Markets with Time-Invariant Retail Prices," The RAND Journal of Economics, vol. 36, no. 3, pp. 469-493, 2005.

E. Bompard, Y. Ma, R. Napoli, G. Abrate, "The Demand Elasticity Impacts on the Strategic Bidding Behavior of the Electricity Producers," IEEE Transactions on Power Systems, vol. 22, no. 1, pp. 188-197, 2007.

Simona Bigerna, Carlo Andrea Bollino, "Demand market power and renewables in the Italian electricity market," Renewable and Sustainable Energy Reviews, vol. 55, 2016.

Severin Borenstein, James Bushnell, Christopher R. Knittel, Catherine Wolfram, "Inefficiencies and market power in financial arbitrage: A study of California's electricity markets," The Journal of Industrial Economics, vol. 56, 2008.

A. B. Philpott, E. Pettersen, "Optimizing demand-side bids in day-ahead electricity markets," IEEE Transactions on Power Systems, vol. 21, no. 2, pp. 488-498, 2006.

Fushuan Wen, A.K. David, "Optimal bidding strategies for competitive generators and large consumers," International Journal of Electrical Power & Energy Systems, vol. 23, no. 1, 2001.

S. J. Kazempour, A. J. Conejo, C. Ruiz, "Strategic Bidding for a Large Consumer," IEEE Transactions on Power Systems, vol. 30, no. 2, pp. 848-856, 2015.

J. Choi, "LSE's Demand Bidding Strategy Considering Dynamic Generator Interactions and Transitional Market Characteristics in Korea Electricity Market," M.S. thesis, Graduate School of Energy Convergence, Gwangju Institute of Science and Technology (GIST), 2025.

Korea Power Exchange (KPX), "Allocation of Voting Rights to Members for 2026," 2026.

K.-Y. Ok, "Details and Implications of Reformed Korean Day-Ahead Electricity Market," The Transactions of the Korean Institute of Electrical Engineers, vol. 70, no. 7, pp. 969-977, 2021.

John D. Wilson, Mike O'Boyle, Ron Lehr, "Monopsony behavior in the power generation market," The Electricity Journal, vol. 33, no. 7, 2020.

Roger G NOLL, "Buyer power and economic policy," Antitrust Law Journal, vol. 72, no. 2, pp. 589-62, 2005.