Step 1

Heat oil in a large heavy pot over medium heat. Add bell peppers and onion and cook, stirring occasionally, until softened and just beginning to brown, 10–12 minutes.

Step 2

Add tomatoes, garlic, jalapeño, basil, oregano, chili powder, and paprika to pot. Reduce heat to medium-low and continue to cook, stirring occasionally, until vegetables are very soft and liquid is thickened, 20–30 minutes; season with salt and pepper. Discard jalapeño.

Step 3

Preheat oven to 400°. Transfer bell pepper mixture to a 13x9” baking dish. Using the back of a spoon, make 6 evenly spaced divots in mixture. Spoon a dollop of ricotta into each divot, then crack 1 egg into each. Top with cheddar and Parmesan; season with salt and pepper. Bake, rotating dish halfway through, until Parmesan is melted and egg whites are almost set but yolks are still runny, 15–18 minutes.

Step 4

Serve baked eggs with toast. (Yolks will continue to cook as dish sits, so serve right away if you prefer your eggs soft.)

Step 5

DO AHEAD: Bell pepper mixture can be cooked 1 day ahead. Let cool; cover and chill.