AI-generated summary
· Application · 07/30/2026
Consumer Advocate, NS Power, and Eastward Energy file comments and intervention in M12954 review of variance account interest rate treatment
AI summary
- The Nova Scotia Energy Board initiated generic proceeding M12954 to review Nova Scotia Power Inc treatment of interest rates on deferral and variance accounts, following a December 2024 decision in M11912 directing a formal rule for interest assessment under s. 64AB of the Public Utilities Act Nova Scotia.
- London Economics International (LEI) was retained by Board Counsel to independently review current Accounting Policies for deferral and variance account interest and analyze alternatives; draft Terms of Reference (ToR) were circulated July 6, 2026 for comment.
- The Consumer Advocate (David Roberts, Pink Larkin) endorsed Industry Group comments and proposed that LEI assess whether NS Power sought interest treatment inconsistent with applicable legislation, and that LEI survey current Canadian jurisdictional practice and different calculation methods (e.g., monthly vs. annual mid-year balance).
- NS Power submitted that the ToR title should be revised from 'Interest Rate Treatment' to 'Cost of Financing Treatment' to reflect that deferral accounts are financed through sources beyond debt, and argued that WACC — most recently approved in M12451 — is the accepted and Board-vetted standard consistent with s. 45 of the PUA and the regulatory compact; NS Power also requested final submissions/rebuttal rights and a default paper hearing format.
- Eastward Energy Incorporated filed a Notice of Intervention, indicating it may address any issues established by the Board in this proceeding.
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
- 103008 Comments - CA
- 103012 Notice of Intervention - EE
- 103024 Comments - NS Power