AI-generated summary
· Decision · 03/25/2026
Nova Scotia Energy Board approves NS Power's 2026 General Rate Application with amendments, setting a ~$5.6–5.9B rate base and 9% ROE while rejecting coal asset write-downs and AMI opt-out fees.
AI summary
- The Board approved NS Power's Settlement Agreements for the 2026/2027 Revenue Requirement as amended, following hearings held January 7–13, 2026, with a compliance filing required before a final order issues; the Board emphasized that settlement agreements must be just, reasonable, and in the public interest — not merely accepted at face value.
- The Board accepted NS Power's forecasted average Rate Base of $5.58B (2026) and $5.89B (2027) and maintained the existing 40% equity/60% debt Capital Structure with a 9% Return On Equity (capped at 9.25%), rejecting the Department of Energy's request to write down coal assets, affirming the prudent original cost valuation method under the Public Utilities Act.
- On Depreciation Amortization, the Board excluded decommissioning costs for the Wreck Cove, Mersey, and Tusket hydro systems from 2026–2027 depreciation rates, rejected an independent expert's proposed changes to asset service lives, and approved amortization accounting for five General Plant accounts, while partially accepting settlement agreement adjustments to net salvage rates.
- The Board partially approved NS Power's Operating Expenses increase (from $297.4M in 2024 to $351.8M in 2026), approved the EIFEL tax deferral, rejected deferral of pre-test-period GRA costs, and found NS Power's Climate Adaptation plan insufficient for lacking transparency and stakeholder consultation.
- Several contested items were rejected or deferred: the AMI opt-out fee was denied due to insufficient cost evidence and questionable projections; Rate Design innovations were acknowledged but criticized as inadequate; the Board directed a future proceeding on distribution cost classification methodology (minimum system vs. basic customer methods); and performance-based Incentive Structures for alternative regulation were flagged as a priority for future development.
Disclaimer: This summary was generated by AI from the filings it describes. We take care to make it accurate, but errors are possible - and it isn't advice. Only the filings themselves are the record: if you're relying on something here, confirm it against the source documents or the Nova Scotia Energy Board's own record. Full disclaimer →
What was filed
Documents filed on this day
- 101354 Board Decision
- 101354 Board Decision