Current Hourly Ontario Energy Price (HOEP): Charged to Local Distribution Companies and large customers who use more than 250,000 kWh a year. HOEP is also paid to self-scheduling generators. HOEP is the hourly arithmetic average of the uniform Ontario energy price determined for each of the 12, 5-minute dispatch intervals in a particular hour.
Market Clearing Price (5-Minute Price): Calculated every five minutes, 12 times an hour. This is the price paid to generators and charged to dispatchable load.
Global Adjustment: Accounts for the difference between the market price and the rates paid to regulated and contracted generators and for conservation and demand management programs.
The First Estimate: Published at the beginning of the month and incorporates a forecast of Ontario demand to project the revenue needed to cover the global adjustment costs for that month. It also takes into account variances from previous months. Actual Global Adjustment costs for the previous month are also posted.
Average Weighted Price (Month): The Hourly Ontario Energy Price weighted by the amount of electricity used throughout the province within each hour, with adjustments.
Hourly Uplift Settlement Charge: The Estimated Hourly Uplift Settlement Charges presents hourly estimates of this charge which covers the costs of Operating Reserve, Congestion Management Settlement Credits, Intertie Offer Guarantee payments (IOG), and other hourly costs such as energy losses on the IESO-controlled grid.