"Transactive control and coordination" features market-like mechanisms for the selection of resources and demand-side assets in an electric power grid. Battelle has been developing this technology at its Pacific Northwest National Laboratory since the 1990's and completed an often-cited field pilot demonstrations of one embodiment of the technology in its Gridwise Olymipic Peninsula Project [PNNL 2007]. Battelle presently leads the Pacific Northwest Smart Grid Demonstration, an ARRA project that also includes participants from 11 utiltiy sites, the Bonneville Power Administration, and about seven entities that are helping Battelle formulate, implement, and test an embodiment of transactive control and coordination. The new embodiment was found necessary and was influenced by the geographical expanse of the demonstration (a five-state region), the fact that the demonstration operates across grid regulation and business boundaries, the immense diversity of participating resources and loads to be coordinated, and the fact that the embodiment must function at multiple scales (both large areas of the transmission region and at individual devices). The locations on the electric power grid that complete the algorithms of the embodiment are herein called "transactive nodes." This invention report first incorporates the "algorithmic framework," the highest-level algorithmic responsibilities that are to be conducted at a transactive node. A document was drafted by Battelle staff that teaches the algorithmic framework. Two functional blocks within the algorithmic framework allow for the further incorporation of (1) "toolkit resource functions" and (2) 'toolkit load functions." Depending on the unique features extant at a given transactive node (e.g., certain types of generation resources, inelastic electrical loads, other loads that might be responsive to a price-like signal in a demand-responsive way), one or more toolkit functions and their unique functionality may be incorprated. These toolkit functions respectively modify the formulation of the price-like signal by the framework, or modify the amount of load that is to be generated or consumed by assets at this grid location. The functions also advise the control of responsive assets.