The IESO's 2024 Annual Report is Now Available
May 1, 2025
It was a year full of new developments, highlighted by the IESO’s revised forecast projecting electricity demand in Ontario to grow 75 per cent by 2050. Our latest annual report provides an overview of what we did in 2024 to meet this anticipated demand through projects and initiatives to drive and guide our rapidly evolving sector, ensure reliability while supporting cost-effectiveness and drive business transformation. Yet, even as Ontario weathers the economic storm brought on by U.S. trade policies at the start of 2025, the IESO still sees a clear need to proceed with our planned investments given the magnitude of growth expected over the next 25 years.
The IESO remains focused on delivering ratepayer value and results. In addition to the financial statements, the report describes some of the outcomes achieved in the areas of resource adequacy – particularly with storage – demand side management, market renewal, and stakeholder and community engagement, among others. These efforts help ensure Ontario’s energy needs are met in the most cost-effective manner while supporting reliability and sustainability.