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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 are 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 [[
As of January 1, 2015 the ''IESO'' and the [[Ontario Power Authority]] were merged.<ref>http://www.ieso.ca/Pages/Media/Release.aspx?releaseID=6946</ref>
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