PART II INDEPENDENT ELECTRICITY SYSTEM OPERATOR
Objects
6 (1) The objects of the IESO are, (a) to exercise the powers and perform the duties assigned to it under this Act, the regulations, directions, the market rules and its licence; (b) to enter into agreements with transmitters to give it authority to direct the operation of their transmission systems; (c) to direct the operation and maintain the reliability of the IESO-controlled grid to promote the purposes of this Act; (d) to participate in the development by any standards authority of criteria and standards relating to the reliability of the integrated power system; (e) to establish and enforce criteria and standards relating to the reliability of the integrated power system; (f) to work with the responsible authorities outside of Ontario to co-ordinate the IESO’s activities with the activities of those authorities; (g) to operate the IESO-administered markets to promote the purposes of this Act; (h) to engage in activities related to contracting for the procurement of electricity supply, electricity capacity, electricity storage, transmission systems or any part of such systems and conservation resources; (i) to engage in activities related to settlements, payments under a contract entered into under the authority of this Act and payments provided for under this Act or the Ontario Energy Board Act, 1998; (j) to engage in activities in support of the goal of ensuring adequate, reliable and secure electricity supply and resources in Ontario; (k) to forecast electricity demand and the adequacy and reliability of electricity resources for Ontario for the short term, medium term and long term; (l) to conduct independent planning for electricity generation, demand management, conservation and transmission; (m) to engage in activities to facilitate the diversification of sources of electricity supply by promoting the use of cleaner energy sources and technologies, including alternative energy sources and renewable energy sources; (n) to engage in activities in support of system-wide goals for the amount of electricity to be produced from different energy sources; (o) to engage in activities that facilitate load management; (p) to engage in activities that promote electricity conservation and the efficient use of electricity; (q) to assist the Board by facilitating stability in rates for certain types of consumers; (q.1) to exercise the powers and rights and to perform the duties and obligations assigned to it under the Ontario Fair Hydro Plan Act, 2017 and to engage in activities to facilitate the implementation of the Ontario Fair Hydro Plan Act, 2017, including, (i) entering into agreements or arrangements with any person for the purposes of the Ontario Fair Hydro Plan Act, 2017, (ii) engaging in activities related to making payments to and receiving payments as contemplated under the Ontario Fair Hydro Plan Act, 2017 and related settlement activities; (iii)  Repealed: 2019, c. 6, Sched. 3, s. 11 (1). (r) to collect and make public information relating to the short term, medium term and long term electricity needs of Ontario and the adequacy and reliability of the integrated power system to meet those needs; and (s) to engage in such other objects as may be prescribed by the regulations. 2014, c. 7, Sched. 7, s. 3 (1); 2016, c. 10, Sched. 2, s. 3; 2017, c. 16, Sched. 1, s. 43 (1); 2019, c. 6, Sched. 3, s. 11 (1). Not for profit (2) The business and affairs of the IESO shall be carried on without the purpose of gain and any profits shall be used by the IESO for the purpose of carrying out its objects. 2014, c. 7, Sched. 7, s. 3 (1). Capacity (3) The IESO has the capacity, rights, powers and privileges of a natural person for the purpose of carrying out its objects, except as otherwise limited by this Act. 2014, c. 7, Sched. 7, s. 3 (1). Limitation on powers, financial (4) The IESO’s powers to borrow, to invest its funds and to manage its financial assets, liabilities and risks are subject to such rules and restrictions as may be prescribed by the regulations. 2014, c. 7, Sched. 7, s. 3 (1). Section Amendments with date in force (d/m/y) 2004, c. 23, Sched. A, s. 6 - 01/01/2005 2014, c. 7, Sched. 7, s. 3 (1) - 01/01/2015 2016, c. 10, Sched. 2, s. 3 - 01/07/2016 2017, c. 16, Sched. 1, s. 43 (1) - 01/06/2017 2019, c. 6, Sched. 3, s. 11 (1) - 01/11/2019