Corporate Strategy and Business Planning

With demand for electricity on the rise, additional resources required to meet growing needs, and new technologies providing options to meet those needs, the electricity system is facing some unique challenges in the coming years. The IESO’s 2023-2025 Business Plan positions the organization well to deliver the reliable, resilient and efficient grid and market that Ontario ratepayers rely on. This plan sets out our priorities in a number of key areas, which include ensuring resource adequacy, enabling new resources, fostering innovation, exploring pathways to decarbonization, and advancing market renewal.

Since the government’s Powering Ontario’s Growth plan was released last year, the IESO has been actively moving the energy transition forward to support the province’s priorities. During this period of unprecedented change, the IESO has been diligent in meeting the needs of the sector and driving efficiencies in all aspects of our business. For the remainder of the current 2023-2025 business cycle, the IESO will continue to be a responsible fiscal manager, seeking opportunities to reduce costs and mitigate budget deficits where possible while minimizing impacts on our ability to deliver our currently budgeted scope of work that includes Powering Ontario’s Growth.

The multiyear approval process of the IESO 2023-2025 Business Plan has provided revenue certainty for the IESO to plan future years and it permits flexibility to move work over the planning horizon to achieve the IESO’s corporate strategies and address changing priorities. As part of this business planning approach, the IESO is required to submit an annual update in the form of the Interim Year Business Outlook to the Minister for each fiscal year (i.e., 2023 and 2024) during a business plan cycle for approval. This year’s edition is the second Interim Year Business Outlook and provides updates on how the IESO’s plans are progressing, and it offers an early estimate of what the 2026-2028 Business Plan submission may contain.

To learn more, please read the 2023-2027 Interim Year Business Outlook.