Category: 📘 Glossary & Acronyms
Real-Time Electrical Price
The price of electricity determined in the real-time electricity market based on current supply and demand conditions.
The real-time electricity price reflects the cost of supplying electricity during actual system operations.
Generators submit offers to supply electricity, and the system operator determines which generators must operate to meet demand at that moment.
Real-time prices can change frequently as system conditions evolve.
In Ontario, the real-time market operates alongside scheduling mechanisms such as the Day-Ahead Market introduced through the Market Renewal Program (MRP).
The real-time market ensures that electricity supply and demand remain balanced as actual system conditions change.
If electricity demand increases unexpectedly due to extreme weather, additional generators may be dispatched and the real-time electricity price may rise.
Last Updated: YYYY-MM-DD