On May 1, 2025, a major transformation to how electricity is priced in Ontario will take effect: the Market Renewal Program (MRP). Designed by the Independent Electricity System Operator (IESO), the MRP modernizes the way Ontario’s electricity market operates. And while the term might sound like just another regulatory update, for commercial and industrial electricity users — particularly manufacturers — it’s something much more: a shift that will impact how and when they consume power, and how much they pay for it.
At EnPowered, we’ve been tracking these changes closely. More importantly, we’re already helping our customers turn this challenge into an opportunity. With the introduction of a new Day-Ahead Pricing Alerts, we’re providing timely intelligence so customers can avoid high-cost hours and reduce their electricity bills — with confidence and clarity.
So what is the Market Renewal Program, and what does it mean for your business?
The MRP introduces two major structural changes:
First, it replaces the old two-schedule system (where one schedule determined which energy resources would run, and another calculated prices) with a streamlined single-schedule market. This simplifies market operation and ensures that pricing reflects system needs more accurately.
Second, and most importantly for businesses, the MRP introduces a Day-Ahead Market (DAM). This means that most electricity pricing and schedules will be determined a day in advance — giving consumers a preview of the next day’s market conditions.
Together, these reforms will bring more efficiency to the Ontario market as well as actionable transparency – flexible loads can take advantage of pricing information to avoid high priced hours as well as fully leverage lower priced hours.
Before we go deeper into how to capitalize on this, let’s clear up one common concern: the MRP does not affect the Industrial Conservation Initiative (ICI).
This is important. Many businesses have reached out to us asking if ICI and the Coincident Peak (CP) program will change after May 1. The answer is no. While the markets which set the prices of electricity will have changes, the Global Adjustment (GA) costs to be recovered through the ICI program will remain unchanged — which EnPowered supports with daily peak alerts and strategy guidance. So, if you’re participating in ICI, nothing changes.
But your commodity costs — the hourly price of electricity — will change. That’s the part MRP transforms, and that’s where savings are possible.
Here’s how.
Electricity prices will continue to vary hour to hour. During peak demand — think hot summer afternoons — prices may spike. During off-peak times — overnight, weekends, or mild weather — prices may drop significantly. The greater the price spread, the more opportunity there is to manage your usage smartly and cut costs.
And with the new Day-Ahead Market, you’ll know when those expensive hours are coming before they hit. That’s a game-changer.
EnPowered’s new Day-Ahead Pricing Alerts helps customers unlock this advantage. We take DAM prices, analyze them, and provide you with customized, clear, actionable insights on tomorrow’s energy pricing. We’ll highlight which hours will be most expensive, and how you can adjust your operations to reduce your bill.
For example, take a greenhouse in Southern Ontario. During the winter months, its supplemental lighting system runs 18 hours a day, drawing several megawatts of power to support crop growth. Under the old system, the greenhouse might not know until the next day that they were running lights during a price spike.
But under MRP, with EnPowered’s help, they’ll know that tomorrow between 4 PM and 7 PM, prices are expected to surge to $290/MWh. By shifting lighting to earlier or later in the day — or dimming output slightly during that window — the greenhouse can avoid high prices without impacting plant health. The result? Thousands of dollars saved over the course of a season.
This is just one example. Similar opportunities exist for manufacturers, cold storage facilities, data centers — any operation with flexibility in their electricity use.
And that’s the heart of the message: with better information comes better control.
EnPowered is already a leader in helping Ontario businesses manage electricity risk. Our North American CP and DR programs save customers millions annually. With the launch of our Day-Ahead Pricing Alerts, we’re extending that expertise into a new frontier — helping you get ahead of commodity pricing and act in advance, not in hindsight.
The MRP may be new to Ontario, but guiding customers to minimize their net electricity costs is familiar territory for us.
And while no one can predict exactly how the market will behave after May 1, we’re confident that flexibility, insight, and proactive decision-making will be the keys to success.
We’re here to make that easy for you.
If you’d like to sign up for our Day-Ahead alerts and gain notifications covering tomorrow’s price intelligence, reach out to chat with our team. We’ll walk you through how the alerts work, what kind of savings to expect, and how to integrate it into your existing operations with zero disruption.
The Ontario market is evolving. Make sure your energy strategy evolves with it.
