A dynamic power meter circuit receives a set of clock signals. The clock signals are summed by a clock sum adder, thereby generating a clock sum value. A dynamic power meter output value is generated based at least in part on the clock sum value. In one particular example, a dynamic power meter circuit receives clock signals and from them generates a clock sum model sub-value. The dynamic power meter circuit also receives event signals, and from them generates an architectural event model sub-value. A corresponding pair of clock sum model sub-value and architectural event model sub-value are then ratiometrically combined, thereby generating a dynamic power meter output value. Due to the use of both event signals and clock signals, a stream of dynamic power meter output values is generated that more closely tracks actual dynamic power of a circuit being monitored.