N-89 Exhibits 01/20/2026

Response to Undertaking U-25 - Redacted

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This document is an exhibit filed in a Nova Scotia Energy Board regulatory matter. It contains a response to Undertaking U-25, addressing how the numbers in Figure 2 of the Q1 2025 Maritime Links Benefits Report confirm that Nova Scotia Power met the test to include the Maritime Link Projects in rate base, and discussing the treatment of surplus energy and bilateral energy transactions as market-priced energy.

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Filed in: M12451 — Nova Scotia Power Inc. - 2026 General Rate Application (GRA)

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