"That's the kind of area where you're going to have a very sophisticated buyer and somebody who's going to do a top-of-the-line renovation," he said.

Individuals would join large groups and be represented by a sophisticated buyer, known as a sponsor.

Those products are for more sophisticated buyers.

And sophisticated buyers, aware of such developments, have begun demanding that they be allowed to purchase power from independent suppliers.

But these are generally targeted at sophisticated buyers of expensive cars.

Under this plan, individuals would be organized into large groups - usually at work - and represented by a sophisticated buyer, called a sponsor.

States would be required to set up regional purchasing groups run by a sophisticated buyer, or sponsor.

If a smart, sophisticated buyer like Investcorp has come forward, competing buyers may do the same.

Managed competition would solve these problems by organizing consumers into large groups run by a sophisticated buyer, or sponsor.

Under this concept, consumers would join large groups and be represented by a sophisticated buyer, known as a sponsor.