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The IESO is an independent, not-for-profit entity. It is governed by a board whose directors are appointed by the government of Ontario, its fees and licences were set by the [[Ontario Energy Board]] and it operates independently of all participants in the electricity market.
In April 2012, the Energy Minister of Ontario [[Chris Bentley (politician)|Chris Bentley]] introduced legislation in [[Legislative Assembly of Ontario|provincial Parliament]] to merge the [[Ontario Power Authority]] and IESO.<ref>{{Cite web|url=https://www.thestar.com/news/queenspark/2013/05/24/possible_opa_merger_would_reduce_public_consultation_on_planning_oppositions_says.html|title=Possible OPA merger would reduce public consultation on planning, oppositions says|date=May 24, 2013|website=thestar.com}}</ref> The merger was expected to take place in late 2012. After the [[Premier of Ontario]] [[Dalton McGuinty]] resigned in the fall of 2012, the merger was postponed.
As of January 1, 2015 the IESO and the [[Ontario Power Authority]] were merged.<ref>{{Cite web|url=https://www.ieso.ca/Error-404.aspx?item=%2fpages%2fmedia%2frelease&user=extranet%5cAnonymous&site=ieso|title=Error-404|website=www.ieso.ca}}</ref>
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