Purpose, Vision and Strategy
Our strategic plan provides clarity, direction and focus, connecting the IESO’s purpose and vision for the future to our core strategies, which provide a roadmap to achieving our strategic objectives. The IESO’s business activities and initiatives are guided by this overarching five-year plan, which also informs the development of the IESO’s annual business planning processes. The resulting documents, in turn, provide an overview of the organization’s near-term activities and financial plans. The IESO also tracks specific corporate performance measures to ensure the organization is meeting its targets, and delivering on its mandate to ensure the reliability of the province’s power system on behalf of all Ontarians.
Electricity is the backbone of modern civilization. We are the heartbeat, ensuring affordable electricity is available where and when people need it.
Recognized as leading the charge to a more competitive electricity marketplace.
One of the fundamental building blocks of our strategic plan, our strategic objectives describe the outcomes we want to achieve by the end of our five-year planning horizon and set the benchmarks for our success:
- Competitive marketplace: Achieve a more competitive electricity marketplace
- Reliability: Sustain excellence in electricity system reliability
- Stakeholder value perception: Enhance stakeholder perception of IESO value
- Prioritized spending: Align allocation of spend to most important priorities
- Culture and workforce transformation: Align culture, mindset, skills and capabilities to deliver on strategy
While our vision is our ultimate destination over the life of the plan, our core strategies and associated initiatives/tactics describe the route we will take on the journey.
Drive business transformation
Transform our business to meet the needs of an evolving industry and business environment, by building and maintaining a culture of excellence, focusing on the needs of our workforce and evolving tools and processes to simplify the way we do things.
Advance sector leadership
Enhance our leadership position and relevance in the Ontario electricity marketplace by focusing on developing our brand in the sector, increasing public perception of the value we provide stakeholders through effective engagement, evolving our governance model and enhancing our relevance through thought leadership.
Ensure system reliability
Advance our core business focus to ensure the long-term reliability of Ontario’s electricity grid, through ongoing upgrades to systems and technology, the development of best-in-class data and analytics capabilities and a robust plan to protect the organization from cyber attacks and other threats to its ongoing operations.
Create and enhance competitive mechanisms and increase/enable market participation, through the development of a capacity auction and a competitive transmission procurement process, as well as support for sector innovation that helps drive system reliability and cost-effectiveness.