Non-geostationary orbit (NGSO) mega-constellations sharing spectrum create dynamic co-frequency interference. We model downlink power control between two independent, equal-priority NGSO operators as a non-cooperative game. We establish an additive weak-coupling potential approximation, prove pure-strategy Nash equilibrium existence, and derive distributed water-filling with a weighted spectral-norm convergence condition. A spherical-Earth model applies off-axis discrimination at both link ends and distinguishes nominal satellite-selection-aware geometry from an unavoided – near-inline window. At , the NE gain over uncoordinated transmission is 0.06% nominally and 3.91% in the near-inline case; all 50 near-inline runs converge, and the gain reaches 10.41% at .

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