Nova Scotia Independent Energy System Operator filed its inaugural revenue requirement application for the test year ending March 31, 2026, seeking approval of $6.75M in ongoing OM&A expenses and establishment of a Net OM&A Deferral and Variance Account pending future rate recovery.

M12412 · Nova Scotia Independent Energy System Operator (IESO Nova Scotia) - Proposed expenditure and revenue requirements for test year ending March 31, 2026

AI summary

The Nsieso (NSIESO), a not-for-profit corporation established October 24, 2024 under the More Access To Energy Act, filed its first-ever Revenue Requirement application (M12412) on August 5, 2025, covering the fiscal year ending March 31, 2026, pursuant to Section 29 of the Act.
Total gross OM&A costs are forecast at $7.98M, comprising $6.75M in ongoing OM&A (the subject of this application) and $1.23M in one-time transition costs; the one-time costs are expected to be fully covered by a $2.68M Provincial grant, leaving a forecasted residual of $1.44M to partially offset ongoing costs, yielding a net deferred amount of approximately $5.31M (Exhibit B-1, Table 3).
The NSIESO is not seeking rate recovery approval at this stage; instead, it proposes a symmetrical Net OM&A Cost Deferral and Variance Account (Exhibit C-1) with three sub-accounts to record approved forecast costs, actual variances, and a trued-up balance, with recovery to be sought in a future application no later than the 2027–2028 test year filing.
The largest ongoing OM&A cost categories are NSPI Employee Transfers and IRP Consulting ($1.61M), Administration Salaries and Wages for 13 new hires including a CEO ($1.57M), Procurement—including a 300 MW RFP anticipated for Fall 2025 ($0.99M), and Legal and Regulatory ($0.81M) (Exhibit B-2, Table 4).
The application reflects a phased operational transition from Nova Scotia Power Inc (NSPI): System Planning and Grid Interconnection functions are expected to transfer in Q4 2025, while real-time dispatch operations are not anticipated to transfer until Q2 2027, with capital expenditure approvals to be sought in separate future applications (Exhibit A-1, Sections 3 and 6).

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What was filed

Documents filed on this day

N-1 Notice of Application exhibits
N-1-(i) Application Exhibits exhibits