AI-generated summary
· Application · 04/30/2010
Nova Scotia Power Inc. filed its eighth annual 2009 Executive Compensation Report with the UARB, disclosing total NSPI-allocated executive costs of approximately $3.08 million.
AI summary
- Nova Scotia Power Inc filed the 2009 Analysis of Executive Management Expenses on April 30, 2010, fulfilling an annual reporting obligation stemming from the Board's 2002 General Rate Case decision (upheld through 2008 NSDARB 140, paras. 84–86).
- Total NSPI-allocated executive compensation, benefits, and expenses for 2009 were $3,078,497, covering 16 named executives including President & CEO Rob Bennett (individual total: $458,478) and 15 others reported in aggregate as "Other NSPI" ($2,620,019).
- Consistent with prior Board directives, 50% of short-term incentive payments charged to NSPI is excluded from regulated earnings; RSUs and stock options are similarly excluded from the Revenue Requirement calculation (Attachment B, column notes 2, 4, 7).
- Base salaries are benchmarked to the 50th percentile of a Board-directed comparator group, with an independent review by Towers Watson (formerly Towers Perrin) filed confidentially as Attachment A.
- The Emera Business Expense Reimbursement Policy (Attachment C) governs all travel, meals, and entertainment claims, requiring original receipts for expenditures over $30 and electronic approval by direct managers.
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
- N-1 Redacted - Analysis of Executive Management Expenses Report
- 04137 Redacted - 2009 Analysis of Executive Management Expenses Report