AI-generated summary
· Closing_evidence · 04/23/2026
EfficiencyOne files audited consolidated financial statements for the year ended December 31, 2025, seeking board-only confidentiality for subsidiary financials.
AI summary
- EfficiencyOne's counsel (McInnes Cooper) filed the 2025 audited consolidated financial statements with the NSEB on April 23, 2026, including five attachments covering DSM fund details, a T2 corporate tax return, and financials for subsidiaries Efficiencyone Services Inc and the Halifax Climate Investment Innovation And Impact Fund.
- The auditor (Doane Grant Thornton LLP) issued a clean opinion confirming the statements fairly present EfficiencyOne's financial position in accordance with Canadian accounting standards for not-for-profit organizations, and separately confirmed compliance with the Corporation's Cost Considerations cost allocation methodology.
- EfficiencyOne operates under a three-year $173 million supply agreement with NS Power for Demand Side Management services covering 2023–2025, with Revenue Requirement recognized on the deferral method as program expenses are incurred.
- The DSM Fund's statement of financial position shows total assets of approximately $12.75 million as at December 31, 2025, while the broader consolidated balance sheet reflects a decrease from ~$236.7 million to ~$189.1 million in total assets year-over-year — though these figures are drawn from section excerpts and the full statements were not read.
- EfficiencyOne requests Confidentiality (Board Only treatment) exclusively for Attachment 4 (EfficiencyOne Services Inc. financials) on the basis of commercial sensitivity; all other attachments, including the main audited statements and the Halifax Climate Fund financials, are filed in redacted public form.
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
- E-1 Financial Statements - Redacted
- E-1(BC) Financial Statements - Board Confidential Board Only
- 101721 Letter enclosing financial statements and request for confidentiality