  For a simple model of price-responsive demand, we consider a deregulated
electricity marketplace wherein the grid (ISO, retailer-distributor) accepts
bids per-unit supply from generators (simplified herein neither to consider
start-up/ramp-up expenses nor day-ahead or shorter-term load following) which
are then averaged (by supply allocations via an economic dispatch) to a common
"clearing" price borne by customers (irrespective of variations in
transmission/distribution or generation prices), i.e., the ISO does not
compensate generators based on their marginal costs. Rather, the ISO provides
sufficient information for generators to sensibly adjust their bids.
Notwithstanding our idealizations, the dispatch dynamics are complex. For a
simple benchmark power system, we find a price-symmetric Nash equilibrium
through numerical experiments.
