Topic:"Affiliate Transactions" in M12665

cuted by NS Power and NSPEMI for the period under review for prudency and for compliance with the Fuel Manual - Review of NS Power's use of hedging to appropriate accounting and performance standards - Review of system sales - Review of in...

AI summary The FAM Audit Scope outlines the review of NS Power and NSPEMI's activities, including prudency and compliance with the Fuel Manual, use of hedging, system sales, and audit reports on fuel procurement. It also includes a follow-up on NSPI's response to 2020-2021 FAM Audit recommendations.

ly recognizes as requiring a different approach.83 During the Audit Period, the Emera Credit Policy was updated once on November 26, 2025, though we observed no material changes in the updated policy. A third important risk management docu...

AI summary The document discusses the Emera Credit Policy and the Affiliate Code of Conduct as key risk management documents. The Emera Credit Policy was updated once during the Audit Period without material changes, while the Affiliate Code of Conduct governs NSPI's dealings with its affiliates, emphasizing fair pricing and prohibiting certain transactions.

Estimating the Fair Market Value of NSPI's Natural Gas Purchases from Emera NSPI's natural gas transactions with Emera Energy, Inc. are subject to NSPI's Code of Conduct ("Code") regarding affiliate transactions. The Code requires that NSP...

AI summary The document discusses NSPI's compliance with its Code of Conduct regarding natural gas transactions with Emera Energy, focusing on determining the Fair Market Value (FMV) of these transactions. It outlines the requirements for establishing FMV, including competitive tendering and benchmarking, and notes that NSPI had two types of transactions: spot and term.

Figure XII-10: NSPI's Short-Term Power Imports, by Counterparty634 2024 2025 Counterparty Number of Transactions Transaction Volume Average Price (USD/MWh) Number of Transactions Transaction Volume Average Price (USD/MWh) The figure above...

AI summary The figure shows NSPI's short-term power imports by counterparty, including transactions with NSPEMI, a subsidiary of NSPI. NSPEMI was approved by the Board in 2018 to handle power and gas transactions, replacing previous agents like Emera and New Brunswick Energy Marketing. Costs are passed through to customers without markup, and NSPEMI's creation did not significantly alter operations or oversight.

XII.B.3. Affiliate Transactions NSPI's purchase and sale of power involves three different affiliate transaction types: (a) power import/export transactions in which NSPEMI transacts on NSPI's behalf; (b) purchases from the 708 Quantities...

AI summary NSPI's affiliate transactions include power import/export through NSPEMI, purchases from the Brooklyn Power facility owned by Emera, and payments to NSPML for Maritime Link charges. Discrepancies in quantities between reports may occur due to transmission limitations or reliability adjustments.

XII.B.3.a. NSPEMI NSPEMI is an affiliate of NSPI created to allow NSPI to transact for power and natural gas in the United States without the use–and added cost—of an agent. While technically an affiliate, NSPEMI's operations are conducted...

AI summary NSPEMI, an affiliate of NSPI, operates with NSPI employees and executes power and REC transactions. NSPI proposed a flow-through pricing protocol, which was approved by the Board. The NSUARB confirmed NSPI's compliance with the Affiliate Code of Conduct and approved pricing protocol.

XII.B.3.b. Brooklyn Power Brooklyn Power is a 30-MW biomass generator located in Liverpool, Nova Scotia that uses a conventional steam turbine fueled primarily by wood, but that can also be powered by fuel oil. The PPA that underlies the B...

AI summary Brooklyn Power is a 30-MW biomass generator in Nova Scotia, operating under a PPA signed in 1992 with Emera Inc. as the current owner. The PPA is an exception to the Affiliate Code and is governed by its own terms. The document references a NSUARB matter and a request for UARB approval related to NS Power Energy Marketing Inc.

undland during the Audit Period. We observed no evidence that NSPI is responsible for these lesser flows. Conclusion XII-28: The Maritime Link's average hourly flow was MW, about % of its average Conclusion XII-30: NSPI engaged in limited...

AI summary The audit found that NSPI's power exports during the Audit Period were limited and occurred in September and October 2025, with all transactions involving fixed price sales to NLH at prices exceeding NSPI's system cost, benefiting FAM customers. Transactions were compliant with the Affiliate Code of Conduct and pricing protocols.