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Problem 2 (3 points): Three GenCos and three LSEs (load serving entities) participate in a centralized electricity market. The market operator has received the following

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Problem 2 (3 points): Three GenCos and three LSEs (load serving entities) participate in a centralized electricity market. The market operator has received the following bids (to buy energy) and offers (to sell energy). Determine the market clearing price. Also determine the cleared quantity and settlement/payment for each company. Offers (to sell energy) Company ID (Quantity, Price) G1 (200, $15); (100, $20) G2 (80, $27) G3 (400, $10) Bids (to buy energy) LSE ID (Quantity, Price) L1 Inelastic load, no bid L2 (200, $22); (60, $14) L3 (100, $25)

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