AI-generated summary
· Rir · 07/16/2025
EfficiencyOne filed responses to six Board information requests on its 2024 audited financial statements, explaining a 600% surge in DSM program support expenses and a 50% rise in incentive costs.
AI summary
- Program support expenses for the DSM fund rose approximately $2.6 million (600%), driven by regulatory costs tied to legislative changes (Bill 228), a NSUARB-directed benefit cost analysis framework, and the expanded 2026–2030 DSM Plan development, including third-party consultant engagement for strategic electrification (IR-01).
- DSM incentive expenses increased 50% or $14.7 million, reflecting higher program participation and a 31% jump in incremental annual net energy savings—172.8 GWh in 2024 versus 131.6 GWh in 2023 (IR-02).
- A $3.369 million return of deferred DSM revenue in 2024 represents surplus funds from the 2020–2022 DSM Plan period, comprising $2.875 million in underspend and $0.494 million in interest, returned to Nova Scotia Power Inc. under the Supply Agreement (IR-04).
- Future DSM fund commitments total approximately $18 million, with the largest shares allocated to Low Income Homeowner Service ($5.3M) and Custom Business programs ($6.3M), as detailed in Note 11 of the financial statements (IR-05).
- The 46% increase in Provincial Fund salaries and benefits was confirmed to have no allocation to the DSM Fund, with shared expenses governed by the NSUARB-approved Cost Allocation Methodology (IR-06).
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-2 E1 (NSEB) RIR 1 to 6
- 98567 Letter E1 re: RIRs