Thanks for that. I imagined the alternator/gen output even at idle would be too great for the electrical system of a light engine to absorb.
I will have a stab at answering for you, the engine speed (rpm) is set by the engine governor and it adjust fuel supply to maintain it. If there is little or no load on the engine the fuel supply will only be sufficient to overcome engine frictional losses and generator windage.
A generators output voltage is proportional to rpm, ignoring windage the torque required to drive it is dependent on load current, if all the circuit breakers are open there is no current irrespective of voltage so no additional torque required from the engine.
No additional torque means the speed will not drop so the governor will not inject more fuel.
So the engine itself and it's immediate auxiliaries can absorb the idle power, no external load is needed.
Think of your car engine idling, it does not overspeed even though it has no external load because it is not getting much fuel.