The Independent Electricity System Operator (IESO) was established in 1998, through the Electricity Act of Ontario, to fulfill the following responsibilities: •Direct the operation and maintain the reliability of the IESO-controlled grid •Operate the wholesale electricity market, overseeing the development of the rules that govern the market, and supporting participants in their interactions with the market •Act as the Reliability Co-ordinator for the province, developing and enforcing reliability standards •Provide forecasts and evaluations of Ontario’s current and short-term electricity needs and the adequacy and reliability of the integrated power system to meet those needs •Coordinate activities with system operator counterparts outside Ontario •Manage the settlements and financial operations of the $10 billion wholesale market •Oversee emergency preparedness activities for Ontario’s power system •Evolve the wholesale market for the benefit of all consumers working in partnership with stakeholders The IESO is a non-profit, corporate entity without share capital established in 1998 by the Electricity Act of Ontario. Independent of all other electricity marketplace participants, the IESO is governed by a Board of Directors, appointed by the Minister of Energy to oversee the management of the organization’s business and affairs. Its fees are paid through the IESO Administration Service Charge, currently set at $0.822/MWh. This charge is just one component of the Wholesale Market Service Charge found on consumer bills.