N-42026-2027 GRA PR 01-03 - Proposed Rates (Tariffs)
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FUEL ADJUSTMENT MECHANISM (FAM) The FAM Actual Adjustment (AA) and Balance Adjustment (BA) charges or credits (in cents per kilowatt-hour) applicable to the Tariff for the current rate year, shown in the FAM Tariff, shall apply, in additio...
AI summary The Fuel Adjustment Mechanism (FAM) includes Actual Adjustment (AA) and Balance Adjustment (BA) charges or credits (in cents per kilowatt-hour) applied to the Tariff for the current rate year, in addition to the energy charge.
Rates
AI summary The document section titled 'Rates' is present but contains no substantive content or analysis. Key acronyms related to regulatory mechanisms and entities are noted but not elaborated upon in the provided text.
(1) Base Cost of Fuel The Base Cost of Fuel can be re-set in a General Rate Application or, absent a General Rate Application, every second year as part of the FAM adjustment process. Changes in the Base Cost of Fuel will be reflected in c...
AI summary The Base Cost of Fuel is reset via General Rate Applications or every two years through the FAM adjustment process. Changes affect customer rates using the Board-approved Cost of Service Methodology, applied consistently across customer classes.
(2) Incentive For a total fuel cost variance of up to $50 million dollars (Actual Fuel Costs - [(Actual Sales) x (Base Fuel Cost $/MWh)]), 90% of any savings or increase in cost will be credited or charged to customers. The portion of any...
AI summary The incentive structure outlines that for fuel cost variances up to $50 million, 90% of savings or additional costs are passed to customers. Excess variances are fully applied in the 'AA' calculation. Credits and charges are applied to the energy component of rates on a cents per kWh basis.
(4) Fluorescent Crosswalk
AI summary The document section titled '(4) Fluorescent Crosswalk' contains no substantive text or analysis. It appears to be an incomplete or placeholder section within a Nova Scotia regulatory proceeding document.
APPLICABILITY This schedule is a mandatory rider to all electric rate schedules, except the following tariffs: Generation Replacement and Load Following, Extra High Voltage Time-of-Use Real Time Pricing, High Voltage Time-of-Use Real Time...
AI summary The schedule applies to all electric rate schedules except specified tariffs. FAM adjustments apply to certain tariffs and Additional Energy under the Mersey System Agreement when priced at applicable tariffs.
(1) Base Cost of Fuel The Base Cost of Fuel can be re-set in a General Rate Application or, absent a General Rate Application, every second year as part of the FAM adjustment process. Changes in the Base Cost of Fuel will be reflected in c...
AI summary The Base Cost of Fuel is reset via General Rate Applications or every two years through the FAM process. Adjustments affect customer rates using the Board-approved Cost of Service Methodology, applied uniformly across customer classes.
N-52026-2027 GRA Appendix 1-6 - Redacted
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1 FAM FRAMEWORK The Fuel Adjustment Mechanism (FAM) is governed by the Plan of Administration (POA) which was introduced for the 2009 calendar year and which is periodically updated and approved by the NSEB. The FAM also uses the Cost of S...
AI summary The Fuel Adjustment Mechanism (FAM) is governed by the Plan of Administration (POA), introduced in 2009 and updated by the Nova Scotia Energy Board (NSEB). The FAM uses Cost of Service (COS) data to allocate fuel costs among customer classes.
2026-2027 GRA Direct Evidence Appendix 6A Page 5 of 10 REDACTED (CONFIDENTIAL INFORMATION REMOVED) establishing customer fuel rates to recover or return the FAM deferral amount, and as noted in Section [1.3](#page-163-0) below, NS Power fi...
AI summary The document outlines the process for establishing customer fuel rates to recover or return the FAM deferral amount using 12 months of actual fuel data (October to September). The total deferral amount is divided by the upcoming year's sales forecast to determine the AA rate.
1.4.4 Removal of Appendix D "FAM Regulatory Calendar" NS Power is requesting that the NSEB agree to remove the requirement to include a calendar in the POA. Appendix D, when drafted, includes dates and processes that are unknown at the tim...
AI summary NS Power requests the NSEB to remove Appendix D from the POA, arguing it contains unreliable dates and processes for FAM-related activities. Known timelines (e.g., reporting) are in section 4.0, while Hearing Orders specify dates for audits and proceedings. NS Power asserts Hearing Orders are the accurate resource for stakeholders.
2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 4 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Interest will be added to all over/under-balance amounts and calculated at NS Power's Annual Weighted Average Cost of Capital (WACC)...
AI summary Interest is applied to over/under-balance amounts using NS Power's WACC. The Fuel Adjustment Mechanism (FAM) recovers fuel cost changes via Actual Adjustment (AA) and Balancing Adjustment (BA) for each rate class, calculated as the difference between actual fuel costs and Base Cost of Fuel (BCF) on a ¢/kWh basis.
2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 7 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED) The BA rate is calculated for the following year (year 2) on the basis of the overor under-recovery of the Actual Adjustment and Bal...
AI summary The document outlines the calculation methodology for Balance Adjustment (BA) and Actual Adjustment (AA) rates, referencing Appendix A for FAM calculations and the FAM Tariff in Appendix D. Fuel-related costs are allocated to specific customer classes using test year principles, with a focus on non-FAM and ATL classes.
6.0 STAKEHOLDER REVIEW AND DISCOVERY Monthly, quarterly and annual non-confidential and confidential reporting will be available for access and viewing. NS Power confidential reporting will be available electronically or in a confidential...
AI summary The document outlines stakeholder access to non-confidential and confidential reports, including monthly, quarterly, and annual data. Confidential information requires a Confidentiality Agreement. Stakeholders may challenge NS Power's fuel costs, methodology, and forecasts during hearings, with support documentation provided for the Base Cost of Fuel forecast. Appendix C and D detail reporting templates and the FAM process calendar.
N-142026-2027 GRA OP 01-15 - Redacted
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2026-2027 GRA OP-01 Attachment 02 Page 17 of 19 REDACTED (CONFIDENTIAL INFORMATION REMOVED) For the three months ended June 30, 2025, NSPI issued 0.04 million common shares (2024 – 0.04 million common shares) to Emera for total considerati...
AI summary NSPI issued 0.04 million common shares to Emera for $0.4 million in both the three and six months ended June 30, 2025. Additionally, NSPI returned $340 million of capital to Emera without reducing the number of shares outstanding. As of June 30, 2025, NSPI owed $179 million to Emera and affiliates, up from $150 million as of December 31, 2024.
Equity ~$400M per year through DRIP and ATM programs
AI summary The document mentions approximately $400 million per year allocated through DRIP and ATM programs, highlighting potential equity-related initiatives or funding mechanisms.
Equity ~$400M per year on average through DRIP and ATM programs1
AI summary The document mentions an average of ~$400M per year allocated through DRIP and ATM programs, highlighting significant financial commitments related to equity initiatives.
Defined Benefit The following table shows years of credited service, estimated pension amounts and changes to accrued obligations from January 1, 2024 to December 31, 2024 for the NEOs who participated in the Pension Plan on a defined bene...
AI summary The document presents a table showing credited service years, estimated pension amounts, and changes to accrued obligations for Named Executive Officers (NEOs) participating in the Pension Plan on a defined benefit basis from January 1, 2024, to December 31, 2024.
N-27NSPI (NSEB) RIR 1-152 - Redacted (settlement agreement attached at IR-1)
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Defined Contribution Plan The Company also provides a defined contribution pension plan for certain employees. The Company's contribution for the year ended December 31, 2024, was $7 million (2023 – $6 million).
AI summary The Company provides a defined contribution pension plan for certain employees, with contributions of $7 million in 2024, up from $6 million in 2023.
As at December 31, 2024, future minimum lease payments to be received for each of the next five years and in aggregate thereafter are as follows: millions of dollars 2025 2026 2027 2028 2029 Thereafter Total Minimum lease payments to be re...
AI summary The text presents a table showing future minimum lease payments to be received by the company for each of the next five years and in aggregate thereafter, as of December 31, 2024. The section title 'RELATED PARTY TRANSACTIONS' suggests that the following content will discuss transactions involving related parties.
As at December 31, 2024, NSPI had $150 million due to Emera and affiliates (December 31, 2023 – $123 million).
AI summary As of December 31, 2024, Nova Scotia Power Inc. (NSPI) had a debt of $150 million owed to Emera and its affiliates, an increase from $123 million as of December 31, 2023.
NSPI has a contractual obligation to pay NSPML, a related party, for the use of the Maritime Link over approximately 38 years from its January 15, 2018, in-service date. On November 29, 2024, NSPML received UARB approval to collect up to $...
AI summary NSPI is obligated to pay NSPML for using the Maritime Link over 38 years. In 2024, NSPML received UARB approval to collect up to $197 million from NSPI in 2025 to recover costs related to the Maritime Link, including a $158 million annual cost assessment and a $39 million supplemental assessment for repaying a federal loan guarantee.
ime to hire and ensures alignment with operational needs. The team continues to optimize the system's functionality, always leaning towards continuous improvement. Please also refer to NSEB IR-62 (d). (d) While the idea of a scholarship fo...
AI summary The document discusses challenges in hiring skilled tradespeople, particularly in unionized environments, and highlights NS Power's initiative to partner with NSCC to increase the number of Utility Line Worker graduates. This aims to address the shortage of qualified Apprentice Powerline Technicians.
2026-2027 GRA NSEB IR-85 Confidential Attachment 1 has been removed due to confidentiality. 1 Request IR-86: (a) Customer deposits are included in the line item "Accounts payable and accruals" on NS Power's regulated balance sheet which ca...
AI summary The document discusses NS Power's customer deposits, including how they are collected, returned, and the reasons for their decrease over recent years. It also mentions an increase in low-income customers and the potential for NS Power to waive security deposits for them.
N-84Response to Undertaking U-17
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ection is filed under subsection 93.4(4) or (5) of the Act. 4 (1) The Act is amended by adding the following after section 93.3: Definitions 93.4 (1) The following definitions apply in this section. FABI surplus, of a foreign affiliate (re...
AI summary The text outlines an amendment to the Act, specifically adding definitions under section 93.4. It defines FABI surplus in relation to a foreign affiliate, including specific conditions related to taxable surplus calculations under the Income Tax Regulations.
he subject affiliate’s taxable surplus were amounts that are included in computing the subject affiliate’s net earnings or net loss (as defined in subsection 5907(1) of the Income Tax Regulations) (i) in respect of foreign accrual property...
AI summary The text discusses the calculation of taxable surplus for an affiliate, focusing on foreign accrual property income and its relation to foreign accrual business income. It outlines conditions under which such income is attributable to the affiliate's operations and includes specific definitions and exceptions.
ductible 248(1), but does not include a natural person or a part- par l’effet de la division 95(2)f.11)(ii)(D)) nership. (contribuable) sur le total des sommes dont chacune re- présente : transaction includes an arrangement or event. (opér...
AI summary The text outlines definitions related to tax regulations, including terms such as 'transaction,' 'transferred capacity,' and provisions under subsection 95(2)f.11)(ii)(D). It discusses revenue from interests and financing of affiliated companies and sums included under specific tax subdivisions.
2 the foreign affiliate’s relevant affiliate écrit en vertu de la présente division selon les interest and financing expenses (as de- modalités réglementaires, fined in subsection 18.2(1)) (determined without regard to this clause and subs...
AI summary The text outlines specific financial calculations related to a foreign affiliate's interest and financing expenses, as well as foreign accrual property losses, under a regulatory framework. These calculations are determined without regard to certain subsections of the Income Tax Regulations.
3 les dépenses d’intérêts et de finance- (determined without regard to this clause, ment de la société affiliée pertinentes clause (D) and subsection 18.2(19)) for the (au sens du paragraphe 18.2(1)) de la socié- taxation year, and té étra...
AI summary The text outlines the determination of interest and finance expenses of a foreign affiliate, excluding specific provisions, and references the foreign affiliate's foreign accrual property loss or income for the taxation year.
his sec- 127.47 (1) Les définitions qui suivent s’appliquent au tion. présent article. at-risk amount has the meaning assigned by subsection commanditaire S’entend au sens du paragraphe 96(2.4) 96(2.2). (fraction à risques) compte non tenu...
AI summary This text defines key terms related to financial provisions and legal structures, including 'at-risk amount' and 'clean economy allocation provision,' within the context of regulatory or legal proceedings.
transactions that oc- (2) Le paragraphe (1) s’applique aux opérations cur after 2023. se produisant après 2023. 54 (1) Subparagraph (a)(iii) of the description of 54 (1) Le sous-alinéa a)(iii) de l’élément I de la I in subsection 204.2(1.2...
AI summary This text outlines legislative changes related to financial transactions and definitions under a specific Act, particularly focusing on amendments to subsections and the effective date of these changes starting April 1, 2023.
101354Board Decision
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illion would accrue in the deferral if PHP remains as a Below-the-Line customer for the entirety of 2026 (Undertaking U-2), and there would also be a $5.7 million fuel balance captured under the FAM;
AI summary If PHP remains a Below-the-Line customer in 2026 (Undertaking U-2), a deferral would accrue, along with a $5.7 million fuel balance captured under the Fuel Adjustment Mechanism (FAM).
[37] The terms of the settlement agreement are set out in a schedule to the agreement and provide as follows: GRA Element Settlement Terms PHP Treatment a) NS Power's 2026/2027 cost of service study includes PHP as an above-the-line custom...
AI summary The settlement agreement outlines the treatment of Port Hawkesbury Paper (PHP) in NS Power's cost of service study, including its load characteristics, interruptible credit, and the analysis of Active Demand Control (ADC) as a potential rider to the cost-based rate.
3.2.2 FAM Plan of Administration and Fuel Manual
AI summary The FAM Plan of Administration and Fuel Manual outlines procedures for managing fuel costs and administrative processes under Nova Scotia's Fuel Adjustment Mechanism. It addresses regulatory oversight, compliance with energy policies, and ensures alignment with utility operations and rate design frameworks.
3.2.2.1 Plan of Administration [60] In its application, NS Power requested approval of amendments to the FAM Plan of Administration as described in Section 6 and Appendix 6A and set out in Appendix 6B. On page 32 of the application, NS Pow...
AI summary NS Power seeks approval to amend the FAM Plan of Administration (POA) for the 2026-2027 GRA period, including aligning fuel costs with COSS, adding renewable program credits, and moving OM&G expenses to FAM. The NSEB requested clarification on language in the amendment, and NS Power referenced prior Board decisions and matter M11127.
wer's Battery Energy Storage Project and an increase in the return paid to the Canada Infrastructure Bank from 1.15% to 9.00% on the Wasoqonatl Transmission project for the NS/NB Reliability Intertie. [298] However, Morrison Park also note...
AI summary The document discusses NS Power's Battery Energy Storage Project and increased returns to the Canada Infrastructure Bank on the Wasoqonatl Transmission project. Morrison Park highlights that bond markets react positively to NS Power's developments, such as government actions to address FAM balances, leading to improved bond yields despite no credit rating changes.
Interpretation 2 In this Act, unless the context otherwise requires, "alternative form of regulation" means a method of establishing just and reasonable rates, tolls, charges and tariffs by performance-based regulation, including earnings...
AI summary The document discusses NS Power's consideration of alternative regulation methods, including performance-based rate plans, while acknowledging implementation complexities. NS Power emphasizes the need to align with Nova Scotia's 2030 decarbonization goals and evaluate impacts on regulatory mechanisms like FAM and RES, as well as the role of IESO-NS.
99748NSEB (NSPI) IR 1 to 152
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Request IR-28:
AI summary A regulatory proceeding document under Request IR-28 in Nova Scotia, involving entities like NS Power and programs such as RTR and FAM. The text lacks detailed arguments or citations but references key acronyms and entities relevant to energy regulation.
Request IR-32: - Reference: Exhibit N-5, Appendix 5A Fuel and Purchased Power, p.8 - It is noted in section 1.1.3 that "NS Power does not use heavy fuel oil (HFO) as a primary fuel to - generate electricity due to its high cost relative to...
AI summary NS Power avoids heavy fuel oil (HFO) due to its high cost, but FAM reports for Jan-Feb 2025 showed HFO consumption over budget. This was attributed to increased system demand and reduced solid fuel generation from sulphur dioxide emission constraints. The inquiry asks if NS Power considered alternatives like virtual power plants to reduce HFO use instead of relying on costly fuel.
Request IR-33: - Reference: Exhibit N-5, Appendix 6A (FAM Framework) and 6B (FAM Plan of Administration) - NS Power proposes a change to s. 3.2.8 of the FAM POA to include costs associated with renewable energy programs (e.g., on bill cred...
AI summary NS Power proposes to include renewable energy program costs in the FAM POA. The request asks how to distinguish recoverable from non-recoverable costs and the appropriateness of additional language about costs not recoverable from participants.
Request IR-34: - Reference: Exhibit N-3, GRA Direct Evidence, Section 6 Fuel Adjustment Mechanism and - Appendix 6B - NS Power notes that it has proposed changes to the FAM Plan of Administration to move some - costs previously included in...
AI summary NS Power proposes moving certain costs from OM&G to the FAM, but the Board staff notes that ash hauling and Tufts Cove Wharf costs were added to the POA, requiring a GRA (M11127) for FAM inclusion. The Board requests confirmation of all proposed cost movements, 2024 GRA amounts, and clarification on OM&G forecast adjustments for 2026/2027.