Updated Business Plan to Support Implementation of Powering Ontario's Growth Initiatives
December 7, 2023
The IESO has received approval from the Minister of Energy for an Amendment to its 2023-2025 Business Plan. The amended plan provides the IESO with increased funding through 2024 and 2025 to ensure it has the resources needed to carry out initiatives in support of the government’s Powering Ontario’s Growth plan, which was released in July 2023.
With demand for electricity on the rise, additional resources required to meet growing needs, and new technologies providing options to meet those needs, the power system is facing some unique challenges in the coming years. The updated plan builds on the initial 2023-2025 Business Plan, which sets out our priorities in a number of key areas, including ensuring resource adequacy, enabling new resources, fostering innovation, exploring pathways to decarbonization and advancing market renewal.
The Minister has also acknowledged the 2023-2026 Interim Year Business Outlook. This is the first of a new and required submission under the IESO’s new three-year business planning cycle that provides an overview of adjustments to priority initiatives and operational activities and offers a look into the next business plan cycle, which begins in 2026.