> Only if customers are willing to buy at that price. Which is only true now because there are no cheaper competitors to turn to, which in turn is because the entire system is operating at capacity.

In other words, the price is the marginal price: at the very edge. What is the highest price consumers want to pay for X amount of electricity. You should split it up: say price of electricity is 5$. That means:

Electricity produced at 1$: sells for 5$

Electricity produced at 2$: sells for 5$

Electricity produced at 3$: sells for 5$

Electricity produced at 4$: sells for 5$

Electricity produced at 5$: sells for 5$

Electricity produced at 6$: does not sell, plants get paused