Category: 📘 Glossary & Acronyms
Hourly Ontario Electricity Price (HOEP)
The wholesale electricity price calculated for Ontario for each hour based on electricity supply and demand conditions.
The HOEP represents the average price of electricity across Ontario during a specific hour.
It is calculated using market offers submitted by generators and reflects the marginal cost of supplying electricity during that hour.
The HOEP is a key price signal used in Ontario’s electricity market and influences payments to generators and charges to certain electricity consumers.
While the HOEP represents the market price of electricity, total electricity costs for many consumers also include additional charges such as the Global Adjustment.
If electricity demand rises during a summer afternoon, the HOEP may increase to reflect the higher cost of supplying electricity.
Last Updated: YYYY-MM-DD