We study the magnetic excitations of a square lattice spin-ice recently produced in an artificial form, as an array of nanoscale magnets. Our analysis, based upon the dipolar interaction between the nanomagnetic islands, correctly reproduces the ground-state observed experimentally. In addition, we find magnetic monopole-like excitations effectively interacting by means of the usual Coulombic plus a linear confining potential, the latter being related to a string-like excitation binding the monopoles pairs, what indicates that the fractionalization of magnetic dipoles may not be so easy in two dimensions. These findings contrast this material with the three-dimensional analogue, where such monopoles experience only the Coulombic interaction. We discuss, however, two entropic effects that affect the monopole interactions: firstly, the string configurational entropy may loose the string tension and then, free magnetic monopoles should also be found in lower dimensional spin ices; secondly, in contrast to the string configurational entropy, an entropically driven Coulomb force, which increases with temperature, has the opposite effect of confining the magnetic defects.