AI-generated summary
· Application · 08/26/2026
NSEB finalizes Terms of Reference for generic review of NS Power's cost of financing treatment for deferral and variance accounts
AI summary
- The Nova Scotia Energy Board issued a finalized Terms of Reference (TOR) on August 26, 2026, launching matter M12954, a generic proceeding to review Ns Power's cost of financing treatment for five deferral and variance accounts: the Fuel Adjustment Mechanism (FAM), Dcrr (DCRR), Storm Cost Recovery Rider (SCRR), Securitization Deferral, and Decarbonization Deferral Account (DDA).
- London Economics International (LEI), retained by Board Counsel, will independently review current interest rate treatments — primarily NS Power's WACC versus the default s. 64AB Public Utilities Act rate (Bank of Canada policy rate plus 1.75%, simple interest) — and analyze alternative approaches through a structured 12-step process including information requests, an independent report, interrogatories, and optional oral hearing.
- The proceeding was triggered by the Board's December 23, 2024 Decision in M11912 (DCRR matter), which directed a generic proceeding to address interest rate methodology across variance accounts; interim WACC treatment on most accounts was continued in the 2026–2027 GRA Decision (M12451, March 25, 2026) pending this review.
- Comments on the draft TOR were received from NS Power, Consumer Advocate, Small Business Advocate, and the Industrial Group by July 30, 2026; LEI provided reply comments August 11, 2026 before the Board finalized the TOR.
- The panel assigned to M12954 is Chair Stephen T. McGrath, K.C., Vice Chair Roland A. Deveau, K.C., and Member Steven M. Murphy, MBA, P.Eng.; lead LEI consultant is Amit Pinjani.
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
- 103339 Board letter re: terms of reference
- 103340 Final Terms of Reference