Topic:"Affiliate Transactions" in M12240

10 2. AFFILIATES Table 1 provides details of E1's Affiliates.[3](#page-3-2) 11 12

AI summary The section discusses E1's affiliates, with Table 1 providing details. The context includes known acronyms such as E1 and NSUARB.

3. ASSETS, SERVICES AND PRODUCTS PROVIDED [4](#page-4-3) - During 2024, E1 provided shared services to both Affiliates. No services were provided by either - Affiliate to E1 during the 2024 reporting period.

AI summary In 2024, EfficiencyOne provided shared services to its Affiliates, while no services were provided by the Affiliates to EfficiencyOne during the same period.

3.1 E1S - E1 and EfficiencyOne Services ("E1S") entered into a Shared Services Agreement ("E1S Agreement") on August 29, 2017, and remains in effect. There have been no amendments or updates to the Shared Services Agreement between E1 and...

AI summary E1 and E1S have a Shared Services Agreement in place since 2017, governing shared services and fully allocated cost accounting. The CEO of E1 oversees both entities, and no employees were seconded to E1S in 2024. Attachments provide asset, service, and employee details.

3.2 HCi3 • E1 and Halifax Climate Investment, Innovation and Impact Fund (HCi3) entered into a Shared Services Agreement ("HCi3 Agreement") on January 1, 2021, and remains in effect. There have been no amendments or updates to the Shared S...

AI summary E1 and HCi3 have a Shared Services Agreement that governs the allocation of corporate services between them on a fully allocated cost basis. The agreement has not been amended since its inception in 2021, and details of the services and costs are provided in attachments. E1 also has an employee-specific service agreement with the President and CEO of E1, who oversees both entities.

4. COST ALLOCATORS AND METHODOLOGY [6](#page-5-2) The EfficiencyOne Code of Conduct Governing Affiliate Transactions Internal Guidelines filed on May 11, 2017,[7](#page-5-3) remains in effect, and is included as Attachment E. The Internal...

AI summary The document references the EfficiencyOne Code of Conduct Governing Affiliate Transactions Internal Guidelines , which outlines how EfficiencyOne calculates costs for shared services, fully allocated costs, and time reporting for seconded employees.

5. INTER-AFFILIATE COSTING PRICING PROCEDURES [9](#page-5-5) E1 has developed several internal procedures to manage Affiliate transactions. These procedures include Affiliate invoicing, Affiliate time reporting, and Affiliate fully allocat...

AI summary EfficiencyOne (E1) has developed internal procedures for managing affiliate transactions, including invoicing, time reporting, and fully allocated costing rates. These procedures were audited by KPMG in 2019, and all recommendations from the audit were implemented by E1.

6. OVERHEAD COSTS - As outlined in the Code "Sharing of Assets, Equipment, and Other Overhead Costs", the "assets, - equipment and other overhead costs of E1, used in relation to the Utility, shall be separated in - ownership from the asse...

AI summary This section discusses the sharing of overhead costs between E1 and its affiliates, including E1S and HCi3. It outlines how overhead costs are calculated, billed, and allocated based on full-time equivalents involved in affiliate activities, and provides details on the 2024 overhead costs for E1S.

1 Table 2: E1S Affiliate Transactions - 2024 Overhead Costs by Category Affiliate Transaction Overhead Cost by Type E1 Employee Cost for Affiliate Transactions Affiliate Employee Costs for Affiliate Transactions Total Overhead Costs for Af...

AI summary Table 2 outlines the 2024 overhead costs for E1S Affiliate Transactions, categorized by type. The table shows costs related to Information Technology, Office and Insurance, Rent, and Training and Development, with E1 Employee Costs and no Affiliate Employee Costs recorded.

4 6.2 HCi3 5 As provided in Attachment C (Summary of Affiliate Transactions – Services Provided by E1 to 6 HCi3), 2024 total overhead costs for the HCi3 affiliate were $39,186. Table 3 provides a 7 breakdown of these 2024 overhead costs by...

AI summary The document discusses the 2024 overhead costs for the HCi3 affiliate, including a breakdown by category type and the allocation based on full-time equivalents. It also mentions how overhead costs are applied to both E1 and HCi3 employees.

1 Table 3: HCi3 Affiliate Transactions - 2024 Overhead Costs by Category Affiliate Transactions Overhead Cost by Type E1 Employee Costs for Affiliate Transactions Affiliate Employee Costs for Affiliate Transactions Total Overhead Costs for...

AI summary Table 3 presents the 2024 overhead costs by category for HCi3 affiliate transactions, including information technology, office and insurance, rent, and training and development, with details on employee costs and total overhead costs.

21 8. EMPLOYMENT STRUCTURE 22 E1 reports on progress made in revising the employment structure to ensure that the business 12 As per subsection 8.3(j) of the Code. - continues to minimize or eliminate the sharing of directors, officers, an...

AI summary The document discusses E1's efforts to revise its employment structure in accordance with the NSUARB Decision from August 29, 2017, including the status of Employee Specific Service Agreements for E1S and HCi3 as of 2024.

9. EXEMPTIONS [15](#page-9-3) There have been no exemptions utilized or granted to this Code. M07390, Inter-Affiliate Code of Conduct, NSUARB Decision, August 29, 2017, page 8, s.20. M11095, NSUARB Letter to E1, 2022 Affiliate Code of Cond...

AI summary The section discusses exemptions related to the Code, noting that no exemptions have been utilized or granted. It references various regulatory decisions and compliance reports, including a letter from the NSUARB to EfficiencyOne regarding the 2022 Affiliate Code of Conduct Annual Compliance Report.

Affiliate Transactions - Services Provided by EfficiencyOne to EfficiencyOne Services Inc. Shared Services Hours Salary Benefits Overhead Products Total Affiliate Business Activities 24.25 $ 2,193.51 $ 414.58 $ 292.63 $ 2,900.72 Corporate...

AI summary The document outlines the affiliate transactions between EfficiencyOne and EfficiencyOne Services Inc., detailing the shared services, hours worked, salaries, benefits, overhead, and total costs for the year 2024. This includes various categories such as Affiliate Business Activities and Corporate Services.

REDACTED Attachment B EfficiencyOne - Affiliate Code of Conduct - Annual Compliance Report Summary of Affiliate Transactions - EfficiencyOne Services Inc. EfficiencyOne Employees % of Available FTE Fully Allocated Employee Hours Time Spent...

AI summary The document presents an annual compliance report summarizing affiliate transactions between EfficiencyOne and its affiliated entities, including EfficiencyOne Services Inc. and the Halifax Climate Investment, Innovation, and Impact Fund. It includes details on employee hours, costing rates, and total expenses for various departments and services provided.

None EfficiencyOne - Affiliate Code of Conduct - Annual Compliance Report Summary of Affiliate Transactions - Halifax Climate Investment, Innovation and Impact Fund EfficiencyOne Employees

AI summary The document provides a summary of EfficiencyOne's Annual Compliance Report related to its Affiliate Code of Conduct and transactions with the Halifax Climate Investment, Innovation and Impact Fund, focusing on employee-related activities.

EfficiencyOne Code of Conduct Governing Affiliate Transactions Internal Guidelines These Internal Guidelines outline how EfficiencyOne will calculate Fully Allocated Costs when the Utility acquires Shared Services from, or provides Shared...

AI summary EfficiencyOne's Internal Guidelines describe the process for calculating Fully Allocated Costs in situations involving Shared Services between the Utility and its Affiliates, including when employees are shared between the Utility and its Affiliates.

REDACTED Attachment E EfficiencyOne Code of Conduct Governing Affiliate Transactions Internal Guidelines

AI summary This document outlines the EfficiencyOne Code of Conduct for managing affiliate transactions, providing internal guidelines to ensure compliance and proper governance in such interactions.

3 POSITIVE TIME REPORTING In accordance with section 6.7 of the Code of Conduct, the determination of the cost of personnel providing an Affiliate Service shall be based on positive time reporting. Positive time reporting for Affiliate Ser...

AI summary The document outlines the requirement for positive time reporting under section 6.7 of the Code of Conduct, specifying that the cost of personnel providing Affiliate Services must be based on this reporting method. This applies to all employees, including executives, and involves monthly reporting of hours by specific project or function.

BACKGROUND On August 29, 2017, the Nova Scotia Utility and Review Board (the "UARB") approved EfficiencyOne's (E1) Code of Conduct Governing Affiliate Transactions (the "Code"). The Code applies to E1's electricity efficiency and conservat...

AI summary In 2017, the Nova Scotia Utility and Review Board (UARB) approved EfficiencyOne's Code of Conduct for Affiliate Transactions, which governs E1's electricity efficiency and conservation activities. The Code applies to E1's transactions with its two Affiliates, EfficiencyOne Services and the Halifax Climate Investment, Innovation and Impact Fund.

PURPOSE OF STAFF INTERNAL GUIDELINES The purpose of the Staff Internal Guidelines is: - a) to ensure employees are aware of how the Code applies to any Affiliate work in which E1 staff are engaged; - b) to outline what the expectations are...

AI summary The Staff Internal Guidelines aim to ensure employees understand how the Code applies to Affiliate work involving E1S and HCi3, outline compliance expectations, and provide direction to supporting documents.

PURPOSE OF CODE OF CONDUCT The Code sets out standards and parameters for all Affiliate interactions to ensure that there are no adverse effects on E1. This means that: - a) E1 cannot support an Affiliate through providing goods and servic...

AI summary The Code of Conduct outlines rules for Affiliate interactions with E1, ensuring no adverse effects on E1. It requires fair market valuation of services, protection of customer information, and separate financial record-keeping.

UNDERLYING PRINCIPLES OF THE CODE It is important that all Affiliate transactions are transparent and that there are no associated risks to E1. This is accomplished through the following: - a) Affiliate transactions requiring E1 staff supp...

AI summary The text outlines principles for managing Affiliate transactions at E1, emphasizing transparency and risk mitigation. Key requirements include pre-approval of transactions requiring staff support, manager approval for involvement in Affiliate activities, and time tracking for all Affiliate-related work.

Affiliate Invoicing Where services are provided by E1 to an Affiliate or vice versa, there must be a customer invoice created with the same payment terms as other E1 suppliers. SPP -Affiliate Invoicing documents this process. (SharePoint L...

AI summary The document outlines the requirements for affiliate invoicing by EfficiencyOne (E1) and its affiliates, specifying that customer invoices must follow the same payment terms as other E1 suppliers and that third-party contractors should invoice affiliates directly.

SHARING OF RESOURCES The Code allows for sharing of resources, providing that all the following conditions are met: - a) the organization continues to provide a management team capable of maintaining superior level of performance; - b) A S...

AI summary The Code permits resource sharing under specific conditions, including the execution of a Shared Service Agreement, tracking time spent on Affiliate projects, and billing at fully allocated costs. These provisions ensure continued performance and proper financial accountability.

Management Team The Executive Leadership Team (ELT) for E1 is not necessarily the leadership team for an Affiliate. ELT members may work in a dual capacity. In this case, a separate Shared Service Agreement is required.

AI summary The Executive Leadership Team (ELT) for EfficiencyOne may not be the same as the leadership team for an Affiliate, and members may serve in dual roles, requiring a separate Shared Service Agreement.

Shared Services (Affiliate Business Activities) The ability to share employees is documented through a Shared Service Agreement and requires the completion of a Temporary Assignment form (Sharepoint Link). Staff should not engage in Affili...

AI summary The document outlines the process for E1 staff engaging in Affiliate business activities through a Temporary Assignment form, which requires manager approval and is reconciled by Finance. Compliance with these procedures is emphasized to ensure proper tracking and approval of staff time spent on Affiliate work.

Fully Allocated Costs All hours inputted into Payworks are billed bi-weekly to an Affiliate at fully allocated costing rates. Fully allocated costing rates are calculated by Finance at the first of each new year. Finance is responsible for...

AI summary The document outlines the process for calculating and applying fully allocated costing rates, which are used to bill Affiliates bi-weekly based on hours inputted into Payworks. These rates are determined annually by Finance and are intended to be accurate and up to date.

ANNUAL COMPLIANCE REPORTING E1 has an obligation to file an Annual Compliance Report with the UARB. The report includes all Affiliate transactions and is subject to an external audit. E1 may conduct internal audits as well. Both audits, wh...

AI summary EfficiencyOne (E1) is required to file an Annual Compliance Report with the Nova Scotia Utility and Review Board (UARB), which includes all Affiliate transactions and is subject to external audit. Internal audits may also be conducted by E1 to ensure compliance with the Code.

1 Request IR-01: 2 3 What is the current outlook for EfficiencyOne Services Inc.'s (E1S) business development 4 activity for 2025 and beyond? 5 6 Response IR-01: 7 8 1 There have been no changes or updates to EfficiencyOne's IR response fr...

AI summary The document outlines responses to information requests regarding EfficiencyOne Services Inc.'s (E1S) business development and affiliate activities. There have been no changes to E1S's previous responses, and affiliate transactions beyond 2024 remain uncertain. In 2024, E1S's affiliate activities included time spent by employees on two projects, one completed and the other continuing into 2025.

- number of Affiliate FTE positions increased from 1.5 in 2023 to 4.0 in 2024. 1 Request IR-04: 2 3 Please provide a high-level breakdown of the direct overhead cost categories for HCi3 for 2024. 4 5 Response IR-04: 6 7 The high-level brea...

AI summary The number of Affiliate FTE positions increased from 1.5 in 2023 to 4.0 in 2024. This increase led to a reduction in 'affiliate business activity' hours and an increase in 'corporate services' hours, attributed to onboarding new staff and increased reporting requirements.

efficiencyone.com T +1 902 470 3500 F +1 902 470 3599 April 25, 2025 Nova Scotia Energy Board 3rd Floor, Summit Place 1601 Lower Water Street Halifax, Nova Scotia B3J 3S3 Attention: Crystal Henwood, Clerk of the Board Re: EfficiencyOne Com...

AI summary EfficiencyOne is submitting its 2024 Affiliate Code of Conduct Compliance Report to the Nova Scotia Energy Board, including various attachments detailing affiliate transactions and internal guidelines. The report requests confidential treatment for certain attachments.

- for 2025 and beyond? - Request IR-2: - What specific expenses or activities were included under "affiliate business activities" for E1S in - 2024? - Request IR-3: - Overhead costs for Information Technology for the Halifax Climate Invest...

AI summary The document outlines several information requests related to financial and operational details of E1S and the Halifax Climate Investment, Innovation and Impact Fund (HCi3), including changes in affiliate business activities, IT overhead costs, and corporate services hours.

M12240 – EfficiencyOne - 2024 Affiliate Code of Conduct Annual Compliance Report On April 25, 2025, EfficiencyOne (E1) filed its 2024 Affiliate Code of Conduct (ACoC) Compliance report. This report is a requirement of the Inter-Affiliate C...

AI summary EfficiencyOne filed its 2024 Affiliate Code of Conduct Compliance Report, which was reviewed by the Board. The Board approved the report and granted confidential treatment for certain attachments. The report is required under the Inter-Affiliate Code of Conduct approved in 2017.