IESO (Ontario) Hourly Electricity Prices

1-2-3 Hr. Forecast Prices
Updated Daily
Operating Reserve Prices
HOEP

Hourly Ontario Energy Price (HOEP) and Operation Reserve Prices and 1-2-3 day-ahead forecast prices in $/MWh

This is an example data from history; subscriber data is updated daily
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Charts of IESO (Ontario) Hourly Electricity Prices

Applications

  • Short-term and long-term prediction of dynamic Ontario electricity prices
  • Seasonal average and distribution of historical power prices
  • HOEP vs. Operating Reserve Prices correlation analysis
  • Peak and off-peak price range analysis

DOCUMENTATION

IESO (Ontario) Hourly Electricity Prices

Overview

This data product offers Hourly Ontario Electricity Prices (HOEP) and Operating Reserve (OR) prices and 1, 2, 3 hour ahead forecast prices.

HOEP will give you a clear idea of wholesale electricity prices in the Ontario energy market. The IESO calculates the hourly Ontario energy price (HOEP), which is charged to large consumers that participate in the market, as well as local distribution companies (LDCs) who recover it from the subset of customers that pay the market price.

Businesses that use more than 250,000 kWh a year pay the hourly price.

The HOEP is also the basis for regulated rates charged to residential and small business customers.

  • HOEP (Hourly Ontario Energy Price)
  • Forecast prices for one, two and three hours ahead
  • Operating reserve for 10-minute synchronized, 10-minute non-synchronized and 30-minute

All electricity consumers in Ontario pay the wholesale price, also referred to as the commodity price, except for those who have entered into a retail contract.

The HOEP is the average of the twelve market clearing prices (MCP) set in each hour. 
A new MCP is set every five minutes. Averages are weighted by the amount of electricity used 
throughout the province within each hour. 

Operating reserve (OR) is stand-by power or demand reduction that can be called on with short notice to deal with an unexpected mismatch between generation and load. Through the administration of operating reserve markets, the IESO ensures that additional supplies of energy are available should an unanticipated event take place in the real-time energy market.

In this data product you will get the three types of operating reserve classes that can be offered by dispatchable generators and dispatchable loads are:

  • 10-minute synchronized (spinning) reserve
  • 10-minute non-synchronized (non-spinning) reserve
  • 30-minute reserve (non-synchronized)

Data Source

IESO (The Independent Electricity System Operator) works at the heart of Ontario's power system. The IESO delivers key services across the electricity sector including: managing the power system in real-time, planning for the province's future energy needs, enabling conservation and designing a more efficient electricity marketplace to support sector evolution.

Key Features

  • Includes hourly Ontario electricity prices as well as 1, 2, 3 hours ahead forecast prices
  • Three operating reserve prices (10 min spinning, 10 min non-spinning, 30 min reserve) is available 2018 forward
  • Updated daily at or before 5:00 PM ET
  • Historical data goes back to 2010

Data Provider

Alta Bering

Until a few decades ago majority of us were employed in real world businesses. Alta Bering came out of a history of production technology and reconciled it with sophisticated algorithmic math, an after-thought in enterprise system functionality.We believe efficiency is key to mitigating scarcity economics. In the early 2000s, we set our sights on helping companies achieve higher efficiency and growth, not just growth.Today we enable advanced prescriptive analytics for data scientists and enterprise cloud platforms. Our goal is to help business analysts step up to corporate responsibility.Contact us for more about how we deliver our predictive analytics consulting to large and medium sized clients.

DATA DICTIONARY

9 Data Columns

Delivery Datetime (delivery_dt)

The date and hour when the market runs and energy is supplied

Peak Hour Specification (on_peak_off_peak_hours)

The on-peak, off-peak flag of the hour

HOEP (hoep)

Hourly Ontario electricity price

One Hour Ahead Predispatch Price (price_1h_predispatch)

1-hour ahead pre-dispatch price

Two Hour Ahead Predispatch Price (price_2h_predispatch)

2-hour ahead pre-dispatch price

Three Hour Ahead Predispatch Price (price_3h_predispatch)

3-hour ahead pre-dispatch price

10S OR Price (price_10s)

10-minute synchronized (spinning) operating reserve price

10S OR Price (price_10n)

10-minute non-synchronized (non-spinning) operating reserve price

30R Operating Reserve Price (price_30r)

30-minute operating reserve price

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