In this case with regulated vs deregulated I meant whether there is some kind of open access scheme for generators, or whether there is a utility with both powe

In this case with regulated vs deregulated I meant whether there is some kind of open access scheme for generators, or whether there is a utility with both power generation and transmission in a monopoly position. Of course, even in such a deregulated market there are laws and regulations that apply to generators. > ERCOT is a little unusual as they don't co-optimize reserves in their real-time 5-minute market. ERCOT has their ORDC which IIUC they are happy with.