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This paper introduces some modifications to the conventional Hopfield Neural Network (HNN) to enhance its performance. A comprehensive study of the effect of the HNN parameters on the solution quality of the Economic Dispatch Problem (EDP), as a case study, is done. By investigating the describing curves, the best values for the HNN parameters are tuned. To further improve the solution quality, an adaptive correction factor is proposed and introduced to the EDP solution obtained by HNN. To investigate the effect of the modifications on the solution quality of the EDP, two case studies are selected and solved. Comparisons of results are then made with others to prove the validity and effectiveness of the proposed modifications.