This ability is similar to Omnipotence to an extent as it allows the user to rule, reshape and control absolutely all existence in his/her own franchise. The user of this power have utter and absolute control of all aspects of the Verse in which they exist, and can freely alter or reshape its nature, content, inhabitants, past, present, future etc. All rules in the verse can be changed on a whim or flat out ignored, as the user is literally the one making and dictating them.
Users are fully beyond what humans are capable of perceiving. They can control everything in their verse like an author controls a work of fiction, with the same absolute power and overwhelming authority. As such they are comparable to the author himself.
Users can notably grant themselves any life and any power they wish, change any aspect of it, or simply start whatever they desire.
Note: Absolute Authority is one of the very few powers in fiction which can be omnipotent or come close to being omnipotent.