The Independent Electricity System Operator (IESO) is a Crown corporation responsible for operating the electricity market and directing the operation of the bulk electrical system in the province of Ontario, Canada. It is one of eight Independent System Operators in North America.
The IESO was established in April 1999 as the Independent Electricity Market Operator (IMO) under the provincial government of premier Mike Harris in preparation for deregulation of the province's electrical supply and transmission system. As part of government plans to privatize the assets of Ontario Hydro, the utility was split into 5 separate Crown corporations with the IMO responsible for directing the flow of electricity across the high-voltage, province-wide network owned by Hydro One and other transmission companies. It was also given the responsibility of managing and operating the competitive wholesale electricity market and working with neighbouring jurisdictions to manage an integrated North American electricity network.
The IMO was renamed to the IESO in January 2005 as a result of the passage of Bill 100, which redefined the direction of deregulation and also led to the creation of the Ontario Power Authority.
The IESO is an independent, not-for-profit entity. It is governed by a board whose directors are appointed by the government of Ontario, its fees and licences are set by the Ontario Energy Board and, most importantly, it operates independently of all participants in the electricity market.
In April 2012, the Energy Minister of Ontario Christopher Bentley introduced legislation in Parliament to merge both the Ontario Power Authority and the IESO . The merger is expected to take place in Fall 2012.
Famous quotes containing the words independent, electricity and/or system:
“We are independent of the change we detect. The longer the lever, the less perceptible its motion. It is the slowest pulsation which is the most vital. The hero then will know how to wait, as well as to make haste. All good abides with him who waiteth wisely; we shall sooner overtake the dawn by remaining here than by hurrying over the hills of the west.”
—Henry David Thoreau (1817–1862)
“Prudence and justice tell me that in electricity and steam there is more love for man than in chastity and abstinence from meat.”
—Anton Pavlovich Chekhov (1860–1904)
“Whoever places his trust into a system will soon be without a home. While you are building your third story, the two lower ones have already been dismantled.”
—Franz Grillparzer (1791–1872)