The Ontario Energy Board regulates the natural gas and electricity sectors in Ontario and protects the interests of consumers with respect to prices and service. It is responsible for electricity market oversight and for ensuring that regulated natural gas and electricity utilities comply with board decisions and orders.

The Ontario Energy Board creates and enforces rules for the electricity and natural gas sectors, and plays a role in regulatory policy development. It provides advice on energy matters referred to it by the Minister of Energy and the Minister of Natural Resources. It also provides regulatory oversight of the connection standards for Ontario's transmission and distribution systems and issues licences to generation projects with installed capacities of more than 500 kW.

The Ontario Energy Board sets the rules for how local distribution companies settle bills with their customers, approves rates and ensures consumer protection.