TORONTO - Ontario will save $25 million a year by merging two of the many bodies that regulate the power sector, Energy Minister Chris Bentley said Wednesday.

"The electricity system has changed a great deal in the past eight years," Bentley said in a news release, announcing the Ontario Power Authority and the Independent Electricity System Operator would be rolled into one body, pending legislation.

"We are rebuilding and modernizing our energy system using cleaner sources of power instead of dirty coal, saving billions of dollars in future costs including health care, while at the same time creating new jobs.

"As we modernize, we are looking at every aspect to provide the best value for Ontarians," he said.

The OPA is in charge of planning where Ontario will get its power from and signs contracts with private sector companies to get it. That includes contracts for renewable energy such as wind and solar.

The IESO is the body that keeps the province's lights on day in and day out, monitoring supply and demand and ensuring power is always available.