Topic:"Capital Expenditures" in M12451

8.2.2 Decommissioning Costs - A Depreciation Study requires NS Power to estimate the future cost of decommissioning its - generation sites, as depreciation rates are generally set to recover the unrecovered - decommissioning costs over the...

AI summary NS Power's depreciation study estimates decommissioning costs using three studies (Hatch Hydro, Boreas Hydro, Stantec Remediation) and a partial decommissioning scenario. Excluded are Wreck Cove, Tusket, and Mersey sites. Costs include removal of structures but exclude water management infrastructure. Adjustments consider inflation, labor, and material costs.

Additions to Plant - In 2026, depreciation and accretion expense is forecast to increase by $2.5 million over the 2024 - GRA Compliance Filing. In 2027, depreciation and accretion expense is forecast to increase by - $18.4 million from the...

AI summary The document discusses NS Power's capital expenditures and depreciation forecasts for 2026 and 2027, highlighting increases due to updated depreciation rates and capital additions. These investments aim to improve reliability, ensure safe service delivery, and meet decarbonization targets. The capital plan aligns with the 80% Renewable Electricity Standard and coal phase-out by 2030.

Overview - Rate base is the investment made by NS Power in assets required to provide service to customers. - Included in rate base are physical assets like power plants, wind turbines, power lines, vehicles, - buildings and inventories of...

AI summary The rate base includes physical and financial assets, with regulatory assets and liabilities. The method for calculating the rate base is consistent with previous GRA. Forecast changes include decreased FAM asset balance due to securitization and capital investment.

9.2.1 Average Capital Assets - Average capital assets reflect NS Power's forecast average net book value of property, plant, and - equipment plus construction work in progress over the 2022-2024 test period. Please refer to FO- - 12 of thi...

AI summary NS Power's average capital assets have increased due to investments in reliability, renewable energy, regulatory compliance, and grid modernization. Replacing aging assets with new ones drives rate base growth, influenced by inflation and expanding customer needs. The company emphasizes efficient capital management to provide value to customers.

Maritime Link Capital Applications - In its last GRA, NS Power requested approval of four capital projects associated with transmission upgrades to accommodate energy flowing from the Maritime Link onto and through NS Power's system, and t...

AI summary NS Power requested approval for four capital projects related to transmission upgrades to accommodate energy from the Maritime Link. The Board deferred including these projects in the rate base until NS Power demonstrated that wheeling tariff revenue and/or the economic value of Nalcor surplus energy purchases met specific cost thresholds. By Q1 2025, these revenue streams exceeded the costs for four consecutive quarters.

SPECIAL CONDITIONS - (1) Metering will normally be at the low voltage side of the transformer. Should the customer's requirements make it necessary for the Company to provide primary metering, then the customer will be required to make a c...

AI summary The special conditions outline requirements for metering and service provisions. Metering is typically at the low voltage side, but primary metering requires customer capital contributions to cover cost differences. Adjustments to kWh readings occur at high voltage levels. Non-standard service provisions may require customer ownership of transformers. Rate Code 22 applies to specific power ranges.

per month Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 Capital Charge (if applicable)

AI summary The document outlines the monthly capital charge effective January 1, 2026, and January 1, 2027, with amounts of $22.16 and $23.07 respectively.

SPECIAL CONDITIONS (1) Metering will normally be at the low voltage side of the transformer. Should the customer's requirements make it necessary for the Company to provide primary metering, then the customer will be required to make a cap...

AI summary The document outlines a special condition requiring metering to be installed on the low voltage side of the transformer, with customers bearing capital costs if primary metering is necessitated. This provision addresses cost allocation responsibilities between the utility and customers for metering infrastructure.

Baseline Data NS Power Customers Customers Meter Reads Opt-out Customers 7.3 Section 1.0 Schedule of load research charges One rate for all equipment types Bi-monthly Monthly The capital costs of metering equipment to be recovered will be...

AI summary The document outlines the baseline data for load research charges and installation charges related to metering equipment. It details the incremental capital costs of AMR meters compared to non-AMR meters and provides installation charge rates for different service types, including single phase and three phase services.

ONE TIME 1.0 Recovery of Capital Cost of Meter Equipment The capital costs of metering equipment to be recovered will be the incremental cost of the AMR AMI meter installed compared to an equivalent non-AMR AMI meter.

AI summary The document discusses the recovery of capital costs for AMR AMI meters, specifying that only the incremental cost compared to non-AMR AMI meters will be recovered.

2026-2027 GRA Direct Evidence Appendix 1A Page 2 of 7 REDACTED (CONFIDENTIAL INFORMATION REMOVED) OP-01 NS Power / Emera Regulated Annual Reports Attachment 1 – NS Power 2024 Q3 MD&A Attachment 2 – NS Power 2024 Financial Statements Attach...

AI summary This document lists various attachments related to financial and operational data for NS Power and Emera, including MD&A reports, financial statements, and breakdowns of expenses, revenue requirements, capital costs, and rate bases for the 2026-2027 period. Some attachments are partially confidential.

Timing and Shortening the forecast process: The Company's Budget is prepared on an annual basis in August/September. After internal review and approval of the Budget, the Company uses the budgeted financial information to prepare the WACC/...

AI summary The company prepares its annual budget in August/September, using it to calculate WACC/AFUDC filed with the Board in November. The budget provides necessary financial data for forecasting debt and equity balances and interest rates. The company recommends continuing to use budget figures for these calculations.

2026-2027 GRA Direct Evidence Appendix 3B Page 5 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED) meet the capital expenditure justification criteria (CEJC), as approved by the Nova Scotia Utility and Review Board. NS Power recognizes tha...

AI summary NS Power outlines its approach to climate adaptation planning, emphasizing flexibility and continuous improvement. It commits to monitoring climate risks, sharing accountability across departments, and enhancing climate knowledge through data collection and external expertise, while adhering to capital expenditure justification criteria (CEJC) approved by the Nova Scotia Utility and Review Board.

Re-design Re-design typically requires engineering input to modify/redevelop an asset to incorporate changes to reduce the risk of failure. In some cases, it may involve changing the design standard to ensure new assets of a particular typ...

AI summary Re-design involves modifying assets to reduce failure risks, often requiring engineering changes. It may alter design standards to improve performance or capacity, with costs classified as capital or operating expenditure. For example, increasing conductor sizing and re-designing fasteners can mitigate risks from wind events like hurricanes.

Refurbishment For many assets, it is possible to refurbish to extend the useful life and/or increase the functional operation of the asset rather than completely replacing the asset. Refurbishment may entail significant component replaceme...

AI summary Refurbishment extends asset life and improves functionality through component replacement or modifications, offering a cost-effective alternative to full replacement. It may involve significant changes and is categorized as operating or capital expenditure based on criteria like magnitude and benefits (e.g., extended life, increased capacity). Examples include re-machining damaged pumps to restore functionality.

Capital Replacements Capital replacement, in essence replacing the entire asset with a new asset, is often one of the last options selected for risk mitigation as it is often the costliest. The new asset may be of similar specifications to...

AI summary Capital replacement involves replacing entire assets, typically as a last resort due to high costs. It may be chosen if refurbishment is infeasible, risks cannot be managed otherwise, or if it's more cost-effective. An example is replacing a low-lying substation with a higher-elevation one to mitigate flood risks.

6. Step 6: Develop a Business Case for Selected Measures This section overviews the procedure for prioritizing recommended adaptation measures. NS Power has robust existing operating and capital expenditure budgeting processes. Adaptation...

AI summary NS Power integrates climate adaptation into existing operating and capital expenditure processes. Measures are selected based on cost, implementation ease, risk mitigation effectiveness, and asset mission. Risk management plans undergo approval by asset teams, management, and regulators. The CEJC process uses a 5x5 risk matrix to prioritize capital expenditures, with detailed criteria outlined in a 2023 document submitted to the Nova Scotia Utility and Review Board.

Quality assurance / quality control of inspections NS Power uses a two-parts quality program. The first is quality control for the regular inspection programs to ensure they are being performed as planned and the inspectors are well-aligne...

AI summary NS Power employs a two-part quality program: one for regular inspection programs ensuring alignment with criteria, and another for post-completion capital project checks (e.g., verifying correct design/installation). This applies to both transmission and distribution, with ongoing improvements focused on distribution's post-construction quality control.

7.0 Vegetation Management NS Power's electrical system is made up of over 32,000 km of power lines—the majority of which run along forested areas and tree lined roads. Each year, the Company's vegetation management team identifies work are...

AI summary NS Power invests increasing amounts in vegetation management to maintain power line reliability, using methods like trimming, removing trees, and herbicides. The 2023-2025 investment rose from $32M to $45M. They reference a 2025-2029 Five-Year Reliability Plan filed with NSUARB.

1.4 Enterprise Asset Management and Project Implementation The EAM and Project Implementation teams are responsible for asset management strategies, capital management and execution of large capital projects. These teams are responsible fo...

AI summary The EAM and Project Implementation teams manage asset strategies and capital projects for NS Power, focusing on decarbonization and reliability. OM&G expenses rose to $8.5M in 2024 due to expanded EIT programs and increased headcount. Forecasts show continued growth through 2027, driven by inflation, personnel needs, and cybersecurity investments. EITs are prioritized for cost-effective project management.

1.5.2 T&D Contractor Management - Provincial population growth and the provincial Internet for Nova Scotia program has led to a significant increase in the requested work for the Utility Services team since the 2023- 2024 GRA forecast was...

AI summary NS Power reports increased operating expenses due to higher demand from population growth and the Internet for Nova Scotia program, leading to more work for the Utility Services team. Fleet costs have risen due to increased field resources, supply chain delays, and aging vehicles requiring more maintenance. NS Power plans capital investments in 2025-2027 to address fleet costs, but expects continued increases due to staffing and fleet growth.

as provided in the graph below. Figure 7A-7: Energy Delivery 2024 Actual vs. 2025 Budget ($ Million) The increased 2025 OM&G expense results mainly from the following: - Increased Storm Expense, consistent with the 2024 GRA Budget, of $5.0...

AI summary The 2025 OM&G expense is increasing due to higher Storm Expense, Energy Delivery Services Expense, and Control Centre Operations expense. These increases are attributed to additional staff, inflation, and consulting costs related to generation interconnection. Administration expense is expected to decrease due to the recovery of mutual aid costs.

Corporate Adjustments As noted above, Corporate Adjustments are credits and expenses that are not assigned to a specific business unit or functional area. These mainly include administrative overhead allocated to capital and certain payrol...

AI summary Corporate Adjustments include administrative overhead and payroll costs not tied to specific business units. Recoveries increased from $46.4 million in 2024 to $56.5 million, driven by higher administrative overheads, capital investment, and interest expenses. Further increases are projected for 2025 to 2027 due to changes in capital investment, staffing, and compensation expenses.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 7B Page 1 of 2 2024 Compliance 2024 Compliance Restated TOTAL CORPORATE GROUPS 95,631 - 26 2 - 262 95,897 Head Office 3.56 3.561 Thermal Plants 42,75 42,752...

AI summary The document presents a compliance report for 2024, detailing financial and operational data across various corporate groups and departments, including energy production, asset management, and environmental services. The data includes figures for head office, thermal plants, renewable energy sources, and other operational segments, with some entries showing discrepancies or restatements.

(in Thousands of $) 530050 Regular Labour 530200 Overtime Labour 530250 Sales Comm.Salaries 530300 Term Labour 530350 Loaned Op.Labour 530360 Borrowed Operating Labour 530400 Loaned Cap. Labour 530550 Labour Clearing Total Labour 530900 Of...

AI summary The document presents a financial breakdown of various cost categories, including labour, office supplies, travel expenses, materials, and software, with figures for 2024 actuals, 2025 budget, and 2026 and 2027 forecasts. It includes compliance and forecast data for specific line items.

pt/Info.Software 194 187 177 180 (17) (10) 536100 Rental/Mtnce equipment/software - - - - - - 532850 Appl. Software - - - - - - - - - - - - 532900 Comp.Hrdwr & Op.Sftwr 532950 Directors' Fees & Exp - - - - - - 533100 Ext. Legal & Audit 42...

AI summary The text presents a table with various expense categories and their associated costs over multiple years, including rental/maintenance equipment, software, legal and audit expenses, meals and entertainment, employee benefits, insurance, energy use, rent, cost recovery, training, personal equipment, severance costs, commissions, write-offs, recoveries, and other goods and services. The data includes figures for 2024 and forecasts for 2026 and 2027.

Tufts Cove & Combustion Turbines (in Thousands of $) 2024 2026 2026 Forecast vs 2024 2026 Forecast vs 2024 2026 Forecast vs 2025 2027 Forecast vs 2026 Responsibility Area Power Production Tufts Cove and Combustion Turbines Overview Tufts C...

AI summary The document provides a financial overview of the Tufts Cove Generating Station and combustion turbines, detailing costs associated with engineering, maintenance, and operations across various years, including comparisons between 2024 actuals, 2025 budgets, and 2026 forecasts. It highlights forecasted changes and variances over multiple years.

Biomass (in Thousands of $) 2024 2026 Forecast 2026 Forecast 2026 Forecast 2027 Forecast Compliance vs 2024 vs 2024 vs 2025 vs 2026 Restated 2024 Actual 2025 Budget 2026 Forecast 2027 Forecast Compliance Actuals Budget Forecast 530050 Regu...

AI summary The text presents a financial table detailing labor and operational expenses for biomass-related activities across different years, including compliance figures and forecasts for 2024 to 2027. It outlines variations in costs for regular labor, overtime, materials, contracts, and other operational expenses.

Transmission & Distribution Contractor Management 2024 Compliance 2026 Forecast vs 2024 2026 Forecast vs 2024 2026 Forecast vs 2025 2027 Forecast vs 2026 Responsibility Area Energy Delivery 2025 Budget 2026 Forecast 2027 Forecast 2024 Actu...

AI summary The document outlines the 2024 compliance and 2026 and 2027 forecasts for Transmission & Distribution Contractor Management under the Energy Delivery responsibility area. It highlights increases in contracts, fleet fuel, and other variations, primarily due to inflation and labour escalations.

- - - - - - - 7 (51 - - (7) 51 - 535950 Royalties/Easements/Appraisals 532100 Telephones 112 69 126 128 14 57 3 536050 Data Communication Circuits - - - - - - - - - - - - - - 532250 Leasing 532450 Corporate Filing Fees - - - - - - - 532500...

AI summary The text presents a list of expense categories with numerical values, likely from a financial report or budget breakdown. It includes items such as royalties, telephone costs, data communication, leasing, consulting, and various other operational expenses. The data appears to be organized by category and year, though the years are not explicitly labeled.

Transmission, Distribution, and General Plant accounts. The historical net salvage data for the years 1976 through 1992 were available only in total for the function and though not considered as the statistical basis for the net salvage es...

AI summary The document discusses net salvage estimates for transmission, distribution, and production plant accounts, based on historical data, management plans, and studies conducted by Stantec and Hatch. The estimates for hydro and steam plants are derived from site-specific decommissioning studies.

GENERAL PLANT 389.10 LAND RIGHTS - GENERAL PLANT 50 - R5 0 4,346,529 1,595,626 2,750,903 77,009 1.77 35.7 390.10 STRUCTURES AND IMPROVEMENTS 42 - R2.5 (10) 184,609,960 73,153,643 129,917,313 5,247,008 2.84 24.8 391.10 OFFICE FURNITURE AND...

AI summary The text presents financial data related to land rights, structures, office furniture, and computer hardware under the General Plant category. It includes details such as costs, reserves, and amortization for various assets.

RESERVE VARIANCE AMORT - COMPUTER HARDWARE (416,440) c 416,440 83,288 5.0 b 391.32 OFFICE FURNITURE EQUIPMENT - COMPUTER SOFTWARE 10 - SQ 0 246,257,554 85,873,932 160,383,622 24,625,754 10.00 6.5 RESERVE VARIANCE AMORT - COMPUTER SOFTWARE...

AI summary The text presents financial data related to computer hardware and software, including reserve variance amortization, office furniture, and computer software expenses. The figures include amounts, percentages, and other financial metrics. Some information is redacted as confidential.

392.00 TRANSPORTATION EQUIPMENT 13 - R1 10 102,651,502 53,324,459 39,061,892 5,182,391 5.05 7.5 394.00 TOOLS, SHOP AND GARAGE EQUIPMENT 20 - SQ 0 3,986,623 1,103,512 2,883,111 199,331 5.00 14.5 RESERVE VARIANCE AMORT - TOOLS, SHOP AND GARA...

AI summary The document presents financial data related to transportation equipment, tools, shop and garage equipment, and communication equipment, including costs, revenues, and variances. The data includes line items such as reserve variance amortization and specific categories like SCADA equipment and remote monitoring equipment.

FULLY AMORTIZED GENERAL PLANT d 391.10 OFFICE FURNITURE AND EQUIPMENT 7,251,565 7,251,565 391.31 OFFICE FURNITURE AND EQUIPMENT - COMPUTER HARDWARE 29,762,603 29,762,603 391.32 OFFICE FURNITURE AND EQUIPMENT - COMPUTER SOFTWARE 18,345,792...

AI summary The text provides a list of fully amortized general plant items, including office furniture and equipment, computer hardware and software, stores equipment, tools, and laboratory equipment, with corresponding monetary values listed for each category.

GRAND ETANG (RETIRED) 6,196 6,197 VI-6 TOTAL WIND PRODUCTION PLANT NOT STUDIED 6,196 6,197 ARO COSTS (12,291,457) (19,119,247) CAPITAL CONTRIBUTIONS (155,427,722) (154,748,262) SITE RESTORATION ASSET - - TOTAL DEPRECIABLE PLANT NOT STUDIED...

AI summary The text presents financial data related to a wind production plant, including ARO costs, capital contributions, and total depreciable plant not studied. The data shows figures for two years, 6,196 and 6,197, with negative values indicating expenses or reductions.

NONDEPRECIABLE PLANT PURCHASE DIFFERENCE 2,334,555 - NON-UTILITY PROPERTY 14,641,746 4,405,697 RESEARCH AND DEVELOPMENT - - LAND - STEAM PRODUCTION 5,121,213 - LAND - HYDRAULIC PRODUCTION 5,396,781 - LAND - WIND PRODUCTION 39,000 -

AI summary The text presents a breakdown of nondepreciable plant and related assets, including purchase differences, non-utility property, research and development, and land associated with various energy production methods such as steam, hydraulic, and wind. Specific figures are provided for each category.

39,000 - LAND - OTHER PRODUCTION 7,629 - LAND - TRANSMISSION 13,274,264 - LAND - DISTRIBUTION 4,563,115 - LAND - GENERAL 12,033,064 340,495 TOTAL NONDEPRECIABLE PLANT 57,411,367 4,746,191 - - TOTAL ELECTRIC PLANT 7,854,829,331 3,363,668,58...

AI summary The text presents a detailed breakdown of land-related costs and total electric plant values, including depreciation and nondepreciable plant figures. These numbers likely represent financial and asset data relevant to regulatory proceedings.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8A Page 100 of 297 ACCOUNT 362.30 STATION EQUIPMENT - MISCELLANEOUS NOVA SCOTIA POWER, INC. SMOOTH SURVIVOR CURVE _ VII-40 Nova Scotia Power Inc. December 3...

AI summary The document contains financial account details related to Nova Scotia Power Inc., specifically accounts for station equipment and energy storage equipment, including EV chargers and distributed solar, as of December 31, 2023.

) (5,991,808) (606,102) (20) (121,220) (6,113,028) (35,156,805) (17) PORT HAWKESBURY BIOMASS (179,498,344) (3) (5,108,660) (32,674,687) (20) (6,534,937) (11,643,597) (212,173,030) (5) INTERNATIONAL COAL PIER (11,479,941) (172) (19,746,485)...

AI summary The text presents financial figures related to various energy production facilities, including Port Hawkesbury Biomass, International Coal Pier, and the Total Steam Production Plant, with details on costs, revenues, and other financial metrics.

STEAM PRODUCTION PLANT LINGAN 2049 48,429,000 79,452,908 55,118,780 (407,345,807) (14) POINT ACONI 2029 32,123,000 35,466,388 26,435,832 (546,201,297) (5) POINT TUPPER 2048 30,354,000 48,822,504 29,922,697 (149,864,128) (20) TRENTON 2029 3...

AI summary The document presents data on various steam production plants in Nova Scotia, including their names, years, and associated financial figures. It includes information on costs, revenues, and other financial metrics for each plant.

2023 2,603,303 892,393 34 55,534 2 836,859- 32- TOTAL 62,794,839 14,659,609 23 494,548 1 14,165,060- 23- THREE-YEAR MOVING AVERAGES 93-95 1,239,704 71,811 6 14,448 1 57,363- 5- 94-96 906,146 56,076 6 13,110 1 42,966- 5- 95-97 1,013,236 121...

AI summary The document presents financial data from Nova Scotia Power Inc. (NSP) for 2023 and three-year moving averages from 1993 to 2000. It includes figures related to station equipment and book salvage summaries, though much of the content is redacted due to confidentiality.

COST OF GROSS NET REGULAR REMOVAL SALVAGE SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT 1993 259 311 52 1994 1995 80,275 80,275- 1996 80,275- 80,275 1997 60,000 48,976 82 3,273 5 45,703- 76- 1998 1999 2000 2001 2002 2003 2,410...

AI summary The text presents a table showing the cost of retirements, gross and net amounts, and salvage values over various years from 1993 to 2016. It includes data on regular removals and salvage percentages for each year, indicating financial details related to asset retirements and salvage recovery.

COST OF GROSS NET REGULAR REMOVAL SALVAGE SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT 1993 1,938,240 0 0 0 1994 15,857 0 0 0 1995 674 34,795 34,121 1996 466,789 1,971 0 0 1,971- 0 1997 753,766 8,775 1 0 8,775- 1- 1998 2,776,0...

AI summary The text presents a table detailing the cost of retirements, gross amounts, net amounts, and salvage values over various years from 1993 to 2010. It includes data on removal percentages and salvage percentages for each year, reflecting financial and asset management activities over time.

COST OF GROSS NET REGULAR REMOVAL SALVAGE SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT THREE-YEAR MOVING AVERAGES 99-01 1,692,763 998,824 59 10,733 1 988,091- 58- 00-02 4,060,676 857,547 21 5,107 0 852,440- 21- 01-03 3,450,282...

AI summary The document presents a table detailing the cost of retirements, gross amounts, and net salvage values over multiple years, showing trends in asset retirements and salvage values from 1999 to 2016. The data reflects the financial implications of retiring assets and the salvage value recovered.

COST OF GROSS NET REGULAR REMOVAL SALVAGE SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT 1993 6,843,689 1,587,915 23 872,638 13 715,277- 10- 1994 218,020 50,241 23 22,540 10 27,701- 13- 1995 247,762 484,084 195 171,683 69 312,40...

AI summary The text presents a table detailing the cost of retirements, gross amounts, and salvage values over multiple years, including percentages for each category. It outlines financial data related to asset retirements and salvage recoveries from 1993 to 2010.

COST OF GROSS NET REGULAR REMOVAL SALVAGE SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT THREE-YEAR MOVING AVERAGES 99-01 57,390 18,726 33 132 0 18,594- 32- 00-02 399,948 19,087 5 83 0 19,004- 5- 01-03 391,759 105,935 27 17 0 10...

AI summary The text presents a table outlining the cost of retirements, gross removal, salvage amounts, and percentages over various three-year periods from 99-01 to 16-18. The data includes metrics such as net amounts and percentages, reflecting financial and operational details related to asset retirements and salvage values.

COST OF GROSS NET REGULAR REMOVAL SALVAGE SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT 1993 6,374,687 6,147 0 31,834 0 25,687 0 1994 1,522,091 29,931 2 39,163 3 9,232 1 1995 1,140,984 707,353 62 451,438 40 255,915- 22- 1996 1,...

AI summary The document presents a table detailing asset retirements and salvage values from 1993 to 2010, including gross and net amounts, as well as percentages for each year. It outlines the financial aspects of asset removal and salvage over time.

COST OF GROSS NET REGULAR REMOVAL SALVAGE SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT THREE-YEAR MOVING AVERAGES 99-01 455,926 152,254 33 814 0 151,440- 33- 00-02 920,838 146,143 16 379 0 145,764- 16- 01-03 824,841 151,573 18...

AI summary The text provides a table showing the cost of retirements, gross amounts, net amounts, and salvage values over various three-year periods, with percentages indicating the proportion of each category relative to the total.

6.66 454,850 422,211 341,088 20.00 17,054 1995 661,063.09 428,674 397,914 335,866 20.28 16,561 1996 1,840,539.66 1,174,316 1,090,051 952,948 20.34 46,851 1997 776,506.87 486,469 451,561 410,361 20.45 20,067 1998 956,085.08 589,951 547,618...

AI summary The document presents financial data spanning from 1995 to 2003, including figures related to various accounts and depreciation accruals for Nova Scotia Power Inc. The latter part of the text refers to a calculated remaining life depreciation accrual related to the steam production plant as of December 31, 2023.

004 436,340 34.67 12,586 2012 316,127.58 140,562 49,593 516,276 34.80 14,836 2013 8,588,564.85 3,566,659 1,258,378 14,115,153 34.75 406,191 2014 1,104,238.99 424,373 149,726 1,826,862 34.75 52,572 _ IX-20 Nova Scotia Power Inc. December 31...

AI summary This document presents financial data and depreciation calculations for Nova Scotia Power Inc. related to the hydraulic production plant, including original cost, accrued depreciation, book reserves, future accruals, remaining life, and annual accruals for the Bear River Interim Survivor Curve and Iowa 100-L0.5. The probable retirement year is listed as 12-2066, and the net salvage percentage is -79.

6 1988 1,602.22 2,103 426 3,659 33.46 109 1990 8,346.17 10,624 2,153 19,129 33.61 569 _ IX-24 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8A Page 222 of 297 NO...

AI summary The document presents financial data for Nova Scotia Power Inc., including depreciation accruals for the Hydraulic Production Plant as of December 31, 2023. It outlines original costs, calculated accruals, book reserves, future accruals, remaining life, and annual accruals for the plant, with a probable retirement year of 2066 and a net salvage percentage of -155.

262 2,658,397 3,428,654 23.17 147,978 2004 5,121,884.86 2,756,598 2,564,739 3,581,523 23.98 149,355 2005 4,357,328.53 2,244,198 2,088,002 3,140,792 24.60 127,674 2006 4,721,280.64 2,320,037 2,158,563 3,506,974 25.24 138,945 2007 4,390,423....

AI summary The table presents financial data from 2004 to 2008, including figures related to costs and accruals. It also includes depreciation calculations for Nova Scotia Power Inc. as of December 31, 2023, specifically for Account 353.00 Station Equipment, with details on original cost, accrued depreciation, and remaining life.

SERVE ACCRUALS LIFE ACCRUAL (1) (2) (3) (4) (5) (6) (7) SURVIVOR CURVE.. IOWA 45-R3 NET SALVAGE PERCENT.. -20 2007 124,624.18 58,234 52,342 97,207 25.87 3,758 2008 1,323,933.05 583,696 524,643 1,064,077 26.69 39,868 2009 1,641,167.05 682,5...

AI summary The text presents a table with financial data including accruals, survivor curve, net salvage percent, and other metrics across multiple years from 2007 to 2023. The data includes figures related to various financial and operational aspects.

ERVE ACCRUALS LIFE ACCRUAL (1) (2) (3) (4) (5) (6) (7) SURVIVOR CURVE.. IOWA 15-S2.5 NET SALVAGE PERCENT.. -5 1995 378.87 397 398 1996 789.05 820 829 1997 150,708.96 155,159 158,244 1999 28,920.51 29,313 30,367 2000 2,528.31 2,539 2,655 20...

AI summary The text presents a table with financial data, including accruals, life, and other metrics across various years. It includes values for different years, such as 1995 to 2023, with columns labeled 'SURVIVOR CURVE.. IOWA 15-S2.5' and 'NET SALVAGE PERCENT.. -5'. The data appears to be related to financial accounting and asset management.

ONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8B Page 5 of 33 Nova Scotia Power Inc. - Hydroplant Asset Study Update Hydro System Decommissioning Study Update - December 11, 2024 Executive Summary Hatch was retain...

AI summary Nova Scotia Power Inc. (NSPI) commissioned Hatch to update the 2018 Class 5 cost estimate for decommissioning all of NSPI’s hydroelectric assets. The update incorporates lessons from recent decommissioning projects and escalates the 2018 estimate to 2024 dollars. Key cost categories include infrastructure removal, environmental studies, and sediment management.

H374195-0000-21A-249-0001, Rev. 0 Page ES-1 © Hatch 2024 All rights reserved, including all rights relating to the use of this document or its contents. REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8B...

AI summary Hatch was retained by Nova Scotia Power Inc. (NSPI) to update a 2018 hydro asset study, revalidating baseline assumptions and updating cost estimates from 2018 to 2024 dollars, taking into account decommissioning works such as those at Roseway.

recent NSPI projects. The actual costs were compared to the previously developed estimates and to the results from the application of the environmental cost estimating matrix. 2.3 Sediment Management Costs Sediment management costs in the...

AI summary The document discusses sediment management costs for NSPI reservoirs, comparing actual costs to previous estimates and using a cost breakdown from Pansic et al. (2018) that allocates 48% of decommissioning costs to sediment management.

5 100% Wreck Cove Rocky with some granular No significant activity 1 0% As sediment management costs were estimated by a factor of the environmental and infrastructure removal costs already adjusted to 2024 values, the costs include inflat...

AI summary The updated decommissioning cost for NSPI's hydroelectric system is estimated at $905 million (2024 CAD), an increase of approximately $143 million from the 2018 estimate. The increase is attributed to inflation and new information regarding contamination and refined empirical relationships based on removal cost data from 2018 to 2024.

6,800,000 5,715,000 8,404,000 465,468 2,541,000 3,125,430 7,970,000 11,994,898 Report Done in 2013 Costs were escalated to ROSEWAY Spillway Dam unknown Stroage 17.1 216 67.1 unknown 171 63.22 387 5.2 50 1 904,131 904,131 1,112,081 0 363,00...

AI summary The text provides numerical data related to costs and projects, including a mention of the Roseway Spillway Dam and environmental costs in 2018. The data includes figures for various categories, but the context and discussion around the costs are unclear.

818,000 818,000 1,006,140 NA 90000 NA 908,000 and Penstocks St. MARGARETS Tidewater Powerhouse and Penstocks x Y 10.0 2012 981,000 981,000 1,206,630 NA 180,000 NA 1,161,000 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct E...

AI summary The document contains a table with financial figures and infrastructure details, including entries for St. MARGARETS Tidewater Powerhouse and Penstocks, with dates and costs listed. The text also includes a redacted section and a page reference from an evidence appendix.

etailed Decommissioning Opinion of Probable Cost). The Detailed Opinion of Probable Cost consists of line items developed in 2010 and is consistent with the NSPI plant system Work Breakdown Structure. 2.1 Cost Categories Revised probable c...

AI summary The document outlines the methodology for estimating the probable costs of decommissioning NSPI power production sites, including the use of updated price indices and industry benchmarks, as well as the classification of estimates based on AACE guidelines.

ach site are presented in Appendix A. Detailed site decommissioning probable costs worksheets are included in Appendix B. Table 2 NSPI Site Remediation Study – 2024 Probable Cost Summary

AI summary The document presents a summary of probable costs for site remediation by NSPI, with detailed worksheets provided in Appendix B. Table 2 outlines the 2024 NSPI Site Remediation Study Probable Cost Summary.

INISTRATION EXPENSES 1,676,855 Not included in demolition phase of work. 900's SCHEDULES AND GENERAL DRAWINGS: 90 DRAWINGS 44,455 Not included in demolition phase of work. SUB-TOTAL (excluding contingency): 38,742,905 CONTINGENCY ALLOWANCE...

AI summary The text provides a demolition estimate for a project, including a subtotal of $38,742,905 and a 25% contingency allowance of $9,885,728, resulting in a grand total of $48,428,631. The estimate is based on previous site visits, limited drawings, and past experience, without actual quotes for demolition work or field data for environmental remediation.

on Plant) 189,524 Z1 OIL/ GAS SUPPLY STRUCTURES - REMOVE TO GRADE LEVEL 81,953 300's BOILERS AND AUXILIARIES: 33 BOILER PLANT· REMOVALS 1,188,380 34 BOILER INSTRUMENTS AND CONTROL REMOVALS 34,631 35 FUEL HANDLING SYSTEMS REMOVALS 244,920 3...

AI summary The text presents a list of costs associated with the removal of various components from a power plant, including boilers, fuel handling systems, environmental protection systems, turbines, and generators. These costs are categorized under different sections and items.

cription Estimated Cost July 2024 Assumptions / Notes: Code 500's ELECTRICAL: 50&51 ON SITE DISTRIBUTION LINES REMOVALS 72,907 56 ELECTRICAL POWER SYSTEMS REMOVAL 127,587 57 OTHER AUXILIARY SYSTEMS AND EQUIPMENT REMOVALS 58 ELECTRICAL CONT...

AI summary The text lists various cost estimates for different categories of removal and decommissioning activities, including electrical systems, water systems, building ventilation, and administrative expenses, with specific figures provided for each item.

Item Description Assumptions / Notes: Code 12 SITE REMEDIATION ISSUES $ 7,000,625 13 SITE ACCESS REMOVALS $ 240,491 15 SITE SERVICES REMOVALS $ 196,680 200's BUILDINGS AND STRUCTURES: 21 POWERHOUSE AND AUXILIARY STRUCTURES REMOVALS $ 10,43...

AI summary The text outlines various costs associated with site remediation, building removals, and decommissioning activities, including specific figures for different categories such as powerhouse removals, coal handling plant decommissioning, and ash handling plant decommissioning.

. 58 ELECTRICAL CONTROL AND COMMUNICATION $ 50,258 700's COMMON SERVICES: 71 WATER SYSTEMS REMOVAL $ 195,908 73 BUILDING VENTILATION AND HEATING REMOVALS $ 171,331 75 COMPRESSED GAS SERVICES REMOVAL (EXCLUDING FUEL GAS) $ 100,247 77 PLANT...

AI summary The document lists various costs associated with electrical control and communication systems, water systems removal, building ventilation and heating removals, compressed gas services removal, plant operating equipment removals, field facilities and decommissioning, administration expenses, and general drawings. These costs are itemized with specific dollar amounts.

Estimated Cost July 2024 Assumptions / Notes: 2024 Code 500's ELECTRICAL: 50&51 ON SITE DISTRIBUTION LINES REMOVALS $ 9,113 56 ELECTRICAL POWER SYSTEMS REMOVAL $ 127,587 57 OlliER AUXILIARY SYSTEMS AND EQUIPMENT REMOVALS $ 91,133 58 ELECTR...

AI summary The document outlines estimated costs for various removal and decommissioning activities across different categories, including electrical systems, common services, and general expenses as of July 2024. The costs are categorized under specific line items and codes.

$ - 77 Plant Operating Equipment Removals $ - 800's GENERAL AND UNDISTRIBUlED: 82 Field Facilities and Decommissioning $ 9,113 85 Administration Evftllnses $ 296 627 ()stantec. \\ca0213-ppfss01\work_graup\1214\aclive\121418266\05_report_de...

AI summary The document presents a summary of site decommissioning estimates for the Financial Depreciation Cost Study 2024, focusing on the Burnsides Gas Turbine Site. It includes line items for plant operating equipment removals, field facilities and decommissioning, and administrative expenses.

ION: BURNSIDE GAS TURBINE SITE DATE: Julv2024 Account Estimated Cost: Item Description Assumptions / Notes: Code July 2024 900's SCHEDULES AND GENERAL DRAWINGS: 90 Dl'aWnas $ 18,227

AI summary The document provides an account code and estimated cost for the 'Schedules and General Drawings' item at the Burnsidge Gas Turbine Site, with an estimated cost of $18,227 as of July 2024.

$ 7,257 27 OIL/ GAS SUPPLY STRUCTURES - REMOVE TO GRADE LEVEL $ - 300's BOILERS AND AUXILIARIES: 33 BOILER PLANT - REMOVALS $ 43,542 34 BOILER INSTRUMENTS AND CONTROL REMOVALS $ 7,257 35 FUEL HANDLING SYSTEMS REMOVALS $ 7,257 36 BOILER STE...

AI summary The document contains a list of costs associated with the removal of various components from a power plant, including boilers, turbines, generators, and auxiliary systems. These costs are categorized under different sections and item numbers, with some items having specific monetary values and others marked as not applicable.

77 PLANT OPERATING EQUIPMENT REMOVALS $ 2,903 800's GENERAL AND UNDISTRIBUTED: 82 FIELD FACILITIES AND DECOMMISSIOMNG $ 20,320 including all outside building demolition & removals 85 ADMINISTRATION EXPENSES $ 319,308 900's SCHEDULES AND GE...

AI summary The text provides a summary of costs related to plant operating equipment removals, field facilities decommissioning, administration expenses, and drawings. These figures are presented in a financial context, likely from a regulatory proceeding.

SCHEDULES AND GENERAL DRAWINGS: 90 DRAWINGS $ 21,771 SUB-TOTAL (excluding contingency): $ 2,238,914 CONTINGENCY ALLOWANCE FOR MARGIN OF ESTIMATING ERROR: 25% $ 559,728 GRAND TOTAL: $ 2,798,642 NOTE: The Demolition Estimate is based on prev...

AI summary The text presents a schedule and general drawings for a project with a total estimated cost of $2,798,642, including a 25% contingency allowance. The estimate is based on previous site visits, limited drawings, past experience, and consultation with a contractor, but no actual quotes were obtained. The environmental remediation costs are based on assumptions about site conditions and contamination levels.

2,460 58 ELECTRICAL CONTROL AND COMMUNICATION $ 4,920 700's COMMON SERVICES: 71 WATER SYSTEMS REMOVAL $ 73 BUILDING VENTILATION AND HEATING REMOVALS $ 4,920 75 COMPRESSED GAS SERVICES REMOVAL (EXCLUDING FUEL GAS) $ 77 PLANT OPERATING EQUIP...

AI summary The document presents a list of costs associated with various electrical control and communication systems, as well as general and undistributed expenses, including field facilities and administration expenses, with specific monetary values listed.

SCHEDULES AND GENERAL DRAWINGS: 90 DRAWINGS $ 7,257 SUB-TOTAL fexcludlna contlnaencvl: $ 1,622,374 CONTINGENCY ALLOWANCE FOR MARGIN OF ESTIMATING ERROR: 25% $ 405,594 GRAND TOTAL: $ 2,027,968 NOTE: The Demolition Estimate is based on previ...

AI summary This section outlines the total costs for demolition and environmental remediation, including a contingency allowance of 25% due to limited data and reliance on past experience and estimates. The total estimated cost is $2,027,968.

Code 1.23 Factor for Up-dating from July 2020 to 2024 1oo·s SITE REMEDIATION ISSUES: 12 Site Remediation Issues $ 799,613 13 Site Access Removals $ 6,962 15 Site Services Removals $ 38,639 200's BUILDINGS AND STRUCTURES: 21 Powerhouse and...

AI summary The text outlines various costs associated with site remediation, building and structure removals, and boiler and auxiliary decommissioning, with specific figures provided for different categories.

. 27 Oil/Gas Supply Structures - Remove to Grade Level $ 121,769 300's BOILERS AND AUXILIARIES: 33 Boiler Plant• Removals . 34 Boiler Instruments and Control Removals $ $ . 35 Fuel Handling Systems Removals $ . 36 Boiler Steam and Water Sy...

AI summary The text outlines various costs associated with the removal of equipment and systems in a power plant, including boilers, turbines, generators, and environmental systems. Specific line items include fuel handling systems, ash and water treatment systems, and combustion turbine-generator removals with associated costs.

tem Description Assumptions / Notes: Code 500's ELECTRICAL: 50 & 51 On Site Dist ribution Lines Removals . . $ 56 Electrical Power Svstems Removal $ 57 Other Auxiliarv Svstems and Eauioment Removals $ . 58 Electrical Control and Communicat...

AI summary The text outlines various costs associated with the removal of electrical and common services infrastructure, including distribution lines, power systems, and building ventilation. Specific line items are listed with associated costs, such as $4,130 for electrical control and communication systems.

ription Estimated Cost July 2024 Assumptions/ Notes:2024 Code 100'8 SITE REMEDIATION ISSUES: 12 SITE REMEDIATION ISSUES $ 2,376,850 13 SITE ACCESS REMOVALS $ - 15 SITE SERVICES REMOVALS $ - 200's BUILDINGS AND STRUCTURES: 21 POWERHOUSE AND...

AI summary The text outlines estimated costs for site remediation and removal of structures and buildings associated with a power plant, including costs for site remediation, powerhouse removal, coal handling plant removal, and auxiliary buildings. Some items have no estimated cost.

$ 58 ELECTRICAL CONTROL AND COMMUNICATION $ 700'8 COMMON SERVICES: 71 WATER SYSTEMS REMOVAL $ 73 BUILDING VENTILATION AND HEATING REMOVALS $ 75 COMPRESSED GAS SERVICES REMOVAL (EXCLUDING FUEL GAS) $ 77 PLANT OPERATING EQUIPMENT REMOVALS $...

AI summary The text outlines various line items and costs associated with electrical control and communication services, including removal of water systems, building ventilation, compressed gas services, and plant operating equipment. It also includes administration expenses, drawings, and a contingency allowance for estimating errors, with a grand total of $5,939,913.

TIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8D Page 47 of 189 DIGBY WIND GENERATING STATION Account Code Account Description Estimated Cost 2024 Assumptions / Notes: 100's SITE REMEDIATION ISSUES: 12 SITE REMEDIATION I...

AI summary The document outlines the estimated costs for the decommissioning of the Digby Wind Generating Station, including site remediation, building removal, turbine and substation removal, electrical line removal, and administrative expenses.

IAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8D Page 48 of 189 NUTBY WIND GENERATING STATION Account Code Account Description Estimated Cost 2024 Assumptions / Notes: 100's SITE REMEDIATION ISSUES: 12 SITE REMEDIATION IS...

AI summary The document outlines the estimated costs and account codes associated with the decommissioning and site remediation of the Nutby Wind Generating Station, including expenses for site services removal, building removal, turbine and substation removal, and administrative costs.

Item Description Assumptions / Notes: Code 100's SITE REMEDIATION ISSUES: 12 Site Remediation Issues 2,997,991 . $ 13 Site Access Removals $ 15 Site Services Removals $ 31,000 200's BUILDINGS AND STRUCTURES: 21 Powerhouse and Auxiliary Str...

AI summary The document outlines various costs associated with site remediation, building removals, and decommissioning activities related to power infrastructure. Specific line items include site access and service removals, powerhouse and auxiliary structures removals, and coal and ash handling plant decommissioning.

@ 170/Ton 273 Fuel Oil Drainage System (including Drain Tank) 274 Gas Pipeline Layout and Supports 300's BOILERS AND AUXILIARIES: 33 BOILER PLANT· REMOVALS 4,297,435 330 General 331 Boiler 4,127,927 332 Draft Plant (including Air & Gas and...

AI summary The text lists items related to fuel oil drainage systems and boiler plant removals, including costs for various components such as boilers, draft plants, precipitators, and chemical cleaning systems.

July 2024 34 BOILER INSTRUMENTS AND CONTROL REMOVALS 111,138 340 Unit Instruments and Controls - General 44,455 No escalation 341 Plant DCS and Boiler Control System 37,046 No escalation 343 Burner Automation System 14,818 No escalation 34...

AI summary The document outlines expenditures related to the removal of boiler instruments and control systems, as well as fuel handling systems, with no escalation noted for these costs.

ling and Storage (off-site) 400's TURBINES, GENERATORS AND AUXILIARIES: 41 TURBO-GENERATOR REMOVALS 922,103 410 General 193,036 Account for complicated dis-assembly of turbines and generators, not contemplated in 2002. 411 Turbine and Auxi...

AI summary The document outlines the costs associated with the removal of various components from a power generation facility, including turbines, generators, condensing plants, and feedwater heating systems. Specific line items and notes are provided for each section, detailing the nature of the work and associated expenses.

27,340 building demolition only, (Chlorination system already removed) 43 FEEDWATER HEATING SYSTEM REMOVALS 233,302 431 High Pressure Feedwater System 72,907 432 Bled Steam and Heater DrainsNents System 54,680 433 Low Pressure Feedwater Sy...

AI summary The text outlines various costs associated with the removal of infrastructure at a generating site, including demolition, feedwater heating systems, and turbo-generator controls. Specific line items and amounts are listed, but the content is partially redacted and appears to be part of a larger estimate document.

Code July 2024 77 PLANT OPERATING EQUIPMENT REMOVALS 32,897 770 Environmental - Monitoring Equipment 7,380 771 Maintenance Equipment 18,227 772 Vacuum Cleaning System 7,291 B00's GENERAL AND ADMINISTRATION: 82 FIELD FACILITIES AND DECOMMIS...

AI summary The text provides a detailed breakdown of costs related to plant operating equipment removals, field facilities decommissioning, and administration expenses, including specific line items such as demolition contractor facilities, consultant services, and environmental engineering costs.

July 2024 15 SITE SERVICES REMOVALS 191,212 150 Site Services 153 Raw Water Supply 36,453 154 Sewage Systems 36,453 155 Storm Water and Floor Drainage Systems 36,453 156 Retaining Walls, ,Fences, Gates, Railways 18,227 157 Miscellaneous Im...

AI summary The document provides a detailed breakdown of costs associated with site services removals and building structures removals, including raw water supply, sewage systems, storm water systems, retaining walls, lighting, and sediment control, as well as powerhouse and auxiliary structures removals.

47,896 For Tidal work& Sediment & Erosion Contol 23 COAL HANDLING PLANT - REMOVE TO 1 METER BELOW GRADE 345,503 230 Waste Water / Effluent Treatment System 23,695 231 Dumper House Facilities (incl. Coal Unloading Facilities and Primary Con...

AI summary The text outlines various costs associated with coal handling plant removal and related infrastructure, including wastewater treatment, conveyors, stackers, and temporary facilities, with a total estimated cost of approximately $47,896 for tidal work and sediment erosion control.

- •-:�:.. COST STUDY ?n?A LOCATION: POINT ACONI GENERATING STATION DATE: 1-Jul-24 Account Estimated Cost: Item Description Assumptions/ Notes:2024 Code July 2024 24 ASH HANDLING PLANT DECOMMISSIONING 136,700 240 General 241 Disposal System...

AI summary The text provides a cost study for the decommissioning of the ash handling plant at the Point Aconi Generating Station, with an estimated cost of $136,700 for ash silo demolition and related activities.

A.I ·- - •-:�:.. COST STUDY ?n?A LOCATION: POINT ACONI GENERATING STATION DATE: 1-Jul-24 Account Estimated Cost: Item Description Assumptions/ Notes:2024 Code July 2024 34 BOILER INSTRUMENTS AND CONTROL REMOVALS 34,631 340 Unit Instruments...

AI summary The document outlines estimated costs for the removal of boiler instruments and control systems, as well as fuel handling systems at the Point Aconi Generating Station in July 2024. Specific line items include costs for unit instruments, boiler control systems, burner automation systems, and instrumentation.

359 Natural Gas Systems (Station Gas, Unit Gas and Propane Fuel Gas) 36 BOILER STEAM AND WATER SYSTEMS REMOVALS 205,961 360 General 363 Boiler Vents, Drains and Slowdown System 47,389 364 High Pressure Steam System (Main Steam, Hot & Cold...

AI summary The text provides a breakdown of costs related to the removal of boiler steam and water systems, as well as ash and water treatment systems. It includes various sub-systems and their associated costs, such as chemical feed systems, reserve feedwater systems, and waste water treatment systems.

·- - •-:�:.. COST STUDY ?n?A LOCATION: POINT ACONI GENERATING STATION DATE: 1-Jul-24 Account Estimated Cost: Item Description Assumptions/ Notes:2024 Code July 2024 38 ENVIRONMENTAL SYSTEMS REMOVALS 380 FGD System (Flue Gas Desulfurisation...

AI summary The document outlines the estimated costs for the removal of environmental systems and turbo-generator components at the Point Aconi Generating Station in July 2024. Specific items include the FGD system, limestone handling, gypsum handling, and various turbine and generator removals with detailed cost breakdowns and assumptions.

.I.TION COST STUDY ?n?A LOCATION: TUFT'S COVE THERMAL GENERATING STATION DATE: Jul-24 Account Item Description Assumptions/ Notes:2024 Code 13 SITE ACCESS REMOVALS 140,244 130 General 131 Access Roads and Road Bridges 45,567 132 Access Rai...

AI summary The document outlines costs associated with site access and site services removals at the Tuft's Cove Thermal Generating Station as of July 24, 2024, detailing specific line items and their respective costs.

:t"'I.I.TION COST STUDY ?n?A LOCATION: TUFT'S COVE THERMAL GENERATING STATION DATE: Jul-24 Account Item Description Assumptions/ Notes:2024 Code 23 COAL HANDLING PLANT - REMOVE TO 1 METER BELOW GRADE 140,339

AI summary The text provides a line item from a cost study related to the removal of a coal handling plant at Tuft's Cove Thermal Generating Station, with a cost of $140,339 and a note indicating the work is to be done to 1 meter below grade.

na 275 Dyke/ Containment Berm removal 145,140 For Dyke/ Containment Berm removal 0 Stantec \\ca0213-ppfss01\work_group\1214\active\121418266\05_report_deliverable\draft_doc\Revised_Draft\Site5_2024 Estimate-Tufts Cove Generating Station -...

AI summary The text provides a line item for the removal of a dyke and containment berm at Tufts Cove Generating Station, with a cost of $145,140. The document is a cost study related to the 2026-2027 GRA Direct Evidence Appendix 8D.

ption Assumptions/ Notes:2024 Code 300's BOILERS AND AUXILIARIES: 33 BOILER PLANT - REMOVALS 2,147,084 330 General 331 Boiler 911,334 Auxiliary Boiler 8' dia x 28' long, structural steel base, walkway & handrail 332 Draft Plant (including...

AI summary The text outlines the removal costs for various components of a boiler plant, including the boiler, draft plant, precipitators, soot blowing systems, and other auxiliary equipment, with detailed line items and associated costs.

316,986 340 Due to Big. Height & boiler Suspension 362,850 Due to Building Height & boiler Suspension 34 BOILER INSTRUMENTS AND CONTROL REMOVALS 91,133 340 Unit Instruments and Controls - General 18,227 341 Plant DCS and Boiler Control Sys...

AI summary The text lists costs associated with boiler instruments and control removals, fuel handling systems removals, and related items, with specific line items and amounts provided for each category.

513 Transformers (May Contain PCB's) 56 ELECTRICAL POWER SYSTEMS REMOVAL 127,587 560 General -Electrical (including Junction and Terminal Boxes) 54,680 561 Medium Voltage Systems (4 kV to 15 kV) 18,227 562 Low Voltage Systems (480 V to 600...

AI summary The document itemizes costs related to the removal of electrical power systems, including transformers, with specific line items for different voltage systems and associated equipment, totaling $127,587.

2026-2027 GRA Direct Evidence Appendix 8D Page 101 of 189 -.- - SITE - ·-·•,TE wni:;,,...C!1..u:::ET FnR c11.1ANt"'IA• ni:::c,i:.oi:::t"'I.I.TION COST STUDY ?n?A LOCATION: TUFT'S COVE THERMAL GENERATING STATION DATE: Jul-24 Account Item De...

AI summary The document provides a line item from a cost study related to the Tuft's Cove Thermal Generating Station, specifically under the 'Electrical Control and Communication' account with an associated cost of $43,710 as of July 2024.

734 District Heating I Cooling System 75 COMPRESSED GAS SERVICES REMOVAL (EXCLUDING FUEL GAS) 45,567 750 General 751 Plant Service Air System 9,113 752 Nitrogen System 9,113 753 Hydrogen System (when separate from Turbine/Generator Contrac...

AI summary The document outlines costs associated with the removal of compressed gas services and plant operating equipment, including specific line items such as plant service air systems, nitrogen systems, and environmental monitoring equipment, with detailed cost allocations.

14,581 772 Vacuum Cleaning System 9,113 \\ca0213-ppfss01\work_group\1214\active\121418266\0S_report_deliverable\drafl:_doc\Revised_Draft\Site5_2024 Estimate-Tufts Cove Generating Station - R1 .xlsx �Stantec Page 8 of 9 REDACTED (CONFIDENTI...

AI summary The text appears to be a cost study related to the Tufts Cove Thermal Generating Station, including account codes and item descriptions, such as 'Vacuum Cleaning System'. The document is part of a larger estimate and is labeled as a revised draft.

Page 105 of 189 SITE ;- - - ·- 11\JINt:: �;:-••••-i; ,. �"-IEETS:nD �111.1 A.11.lr'IAI -,_ :IATION COST STUDY ?n?A LOCATION: BURNSIDE GENERATING STATION (COMBUSTION TURBINE) DATE: July 2024 Estimated Account Item Description Cost: July Ass...

AI summary The document provides an estimate of removal costs for site access and services at the Burnsides Generating Station, including access roads, railways, and other infrastructure, with a total estimated cost of $63,793 for July 2024.

0 137 Ton @ 170 /Ton 273 Fuel Oil Drainage System (induding Drain Tank) 18,227 274 Gas Pipeline Layout and Supports () Stantec \\Ca0213-ppfss01\work_group\1214\active\121418266\05_report_deliverable\draft_doc\Revised_Draft\Slte6_2024 Estim...

AI summary This document includes a cost study for the Burnsides Generating Station, focusing on infrastructure elements such as fuel oil drainage systems and gas pipeline layouts. The text is part of a larger estimate and appears in a redacted section of a regulatory proceeding.

LOCATION: BURNSIDE GENERATING STATION (COMBUSTION TURBINE) DATE: July 2024 Estimated Account Item Description Cost: July Assumptions / Notes:2024 Code 2024 300's BOILERS AND AUXILIARIES 33 BOILER PLANT· REMOVALS does not apply to this site...

AI summary The document outlines the estimated costs for the removal of boiler plant components and fuel handling systems at the Burnsides Generating Station in July 2024. The focus is on specific account codes related to boiler and fuel handling system removals, with a noted cost of $4,305 for fuel handling systems.

2026-2027 GRA Direct Evidence Appendix 8D Page 110 of 189 SITE ;- - - ·- 11\JINt:: �;:-••••-i; ,. �"-IEETS:nD �111.1 A.11.lr'IAI -,_ :IATION COST STUDY ?n?A LOCATION: BURNSIDE GENERATING STATION (COMBUSTION TURBINE) DATE: July 2024 Estimat...

AI summary This document provides an estimate of $27,340 for the removal of electrical power systems at the Burnsides Generating Station, covering various components including general electrical systems, medium and low voltage systems, and continuous power systems, as of July 2024.

77 PLANT OPERATING EQUIPMENT REMOVALS 770 Environmental - Monitoring Equipment 771 Maintenance Equipment 772 Vacuum Cleaning System () Stantec \\Ca0213-ppfss01\work_group\1214\active\121418266\05_report_deliverable\draft_doc\Revised_Draft\...

AI summary The text outlines plant operating equipment removals, including environmental monitoring equipment, maintenance equipment, and vacuum cleaning systems at the Bumside Generating Station. It includes a cost study dated July 2024 and references a draft document related to the 2026-2027 GRA Direct Evidence Appendix 8D.

Assumptions / Notes:2024 Code 2024 BOO's GENERAL AND ADMINISTRATION: 82 FIELD FACILITIES AND DECOMMISSIONING 9,113 825 Demolition Contractor Facilities 9,113 828 Decommissioning Costs 85 ADMINISTRATION EXPENSES 296,627 850 Demolition Studi...

AI summary The document outlines various costs and expenses related to field facilities, demolition, and administration for the year 2024, including demolition contractor facilities, administration expenses, and drawing costs. Specific line items include consultant services, field supervision, and environmental engineering costs.

2026-2027 GRA Direct Evidence Appendix 8D Page 115 of 189 ·- . i:n � CIIJAl.lt'IAI -, .. _ :1.1\TION COST STUDY ?n?.t SITE -,;::,,- - :�lnNINI':: ;::_:::;.T;,_:.,TE WO- TUFTS COVE LM6000 Units (2) Plus WHR Boiler and LOCATION: Steam Turbin...

AI summary This document is a cost study related to the removal of the coal handling plant at the Tufts Cove LM6000 units, including a waste heat recovery boiler and steam turbine generator, as of July 2024. The work involves removing the plant to 1 meter below grade.

·- SITE -,;::,,- - :�lnNINI':: ;::_:::;.T;,_:.,TE WO- . i:n � CIIJAl.lt'IAI -, .. _ :1.1\TION COST STUDY ?n?.t TUFTS COVE LM6000 Units (2) Plus WHR Boiler and LOCATION: Steam Turbine Generator DATE: Julv 2024 Account Estimated Cost: Item D...

AI summary The text provides an estimate of costs associated with the removal and replacement of turbines and generators at the Tufts Cove site, including assumptions made for the year 2024. The costs for turbine removals and the LM6000 units are outlined with specific assumptions noted.

- 414 LM6000 (two exist onsite) 725,700 based on no salvage value 42 CONDENSING PLANT AND CIRCULATING WATER SYSTEM REMOVALS 29028 420 General 29028 421 Condensers and Auxiliaries 422 Circulatina Water Svstem (Screens Pumps PiPina and Valve...

AI summary The text outlines the removal and associated costs of various components in a power plant, including condensing plants, feedwater heating systems, and turbo-generator controls. It includes specific line items and associated costs, such as the removal of condensers, circulating water systems, and turbine instruments.

GENERATING STATION (COMBUSTION TURBINE) DATE: 7/15/224 Account Estimated Cost: July Item Description Assumptions/ Notes: 2024 Code 2024 300's BOILERS AND AUXILIARIES: 33 BOILER PLANT• REMOVALS does not apply to this site 330 General 331 Bo...

AI summary The document outlines the account codes and estimated costs for boiler plant removals and related systems at a combustion turbine generating station, noting that certain items do not apply to the site.

OST STUDY ?n?.t LOCATION: TUSKET GENERATING STATION (COMBUSTION TURBINE) DATE: 7/15/224 Account Estimated Cost: July Item Description Assumptions/ Notes: 2024 Code 2024 SOO's ELECTRICAL: 50& 51 ON SITE DISTRIBUTION LINES REMOVALS 504 Suppo...

AI summary The document outlines the estimated costs for the removal of electrical infrastructure at the Tuskett Generating Station, including distribution lines, power systems, and associated equipment, with a specific line item for electrical power systems removal valued at $25,000.

ION COST STUDY ?n?.t LOCATION: TUSKET GENERATING STATION (COMBUSTION TURBINE) DATE: 7/15/224 Account Estimated Cost: July Item Description Assumptions/ Notes: 2024 Code 2024 700's COMMON SERVICES 71 WATER SYSTEMS REMOVAL 710 General 711 Co...

AI summary This document outlines the estimated costs for the removal of various systems at the Tuskett Generating Station, including water systems, building ventilation, and heating systems, with specific notes on the addition of an HVAC system in 2020.

2026-2027 GRA Direct Evidence Appendix 8D Page 127 of 189 SITE •- - �"',lnNINt: · •,TE wn - 1 �nR Clt.lAt.lt"IAI • :lATION COST STUDY ?n?.t LOCATION: TUSKET GENERATING STATION (COMBUSTION TURBINE) DATE: 7/15/224 Account Estimated Cost: Jul...

AI summary The document provides a cost study for the Tuskett Generating Station, focusing on general and administration expenses, including field facilities demolition and decommissioning costs estimated for July 2024.

N: VICTORIA JUNCTION GENERATING STATION (COMBUSTION TURBINE) DATE: July 2020 Account Estimated Action By Item Description Assumptions/ Notes: 2024 Code Cost2024 1.23 Factor for Up-dating from July2020 to2024 100's SITE REMEDIATION ISSUES:...

AI summary The document outlines site remediation issues at the Victoria Junction Generating Station, with an estimated cost of $799,613 for 2024, based on an update factor from July 2020.

Cost2024 15 SITE SERVICES REMOVALS 38,639 150 Site Services 153 Raw Water Supply 5,570 removal and capping of water and sewer services 154 Sewage Systems 5,570 155 Storm Water and Floor Drainage Systems 8,354 156 Retaining Walls, , Fences,...

AI summary The document outlines costs associated with the removal of site services and structures, including raw water supply, sewage systems, storm water systems, and powerhouse and auxiliary structures. Specific line items include removal and capping of water and sewer services, lighting in yard areas, and the removal of turbine/generator foundations.

2026-2027 GRA Direct Evidence Appendix 8D Page 130 of 189 lnNINt:: ESTIM4TE - - IEE'T FOR FI ... AIJl"IAI -,_ SITE ni::- - •-:nN COST STUDY ?n?A LOCATION: VICTORIA JUNCTION GENERATING STATION (COMBUSTION TURBINE) DATE: July 2020 Account Es...

AI summary This document presents a cost study for the Victoria Junction Generating Station, focusing on the removal of the coal handling plant to 1 meter below grade. The study was conducted in July 2020 and includes estimated costs for the action.

LOCATION: VICTORIA JUNCTION GENERATING STATION (COMBUSTION TURBINE) DATE: July 2020 Account Estimated Action By Item Description Assumptions/ Notes: 2024 Code Cost2024 75 COMPRESSED GAS SERVICES REMOVAL (EXCLUDING FUEL GAS) 750 General 751...

AI summary The text provides a breakdown of costs related to the removal of compressed gas services and plant operating equipment, as well as general and administration expenses, at the Victoria Junction Generating Station in 2024. Specific line items include demolition contractor facilities and administration expenses.

11,603 828 Decommissioning Costs 85 ADMINISTRATION EXPENSES 207,712 850 Demolition Studies 851 Consultant Service 29,240 852 Field Supervision 153,164 853 Head Office Engineering - Salaries and Expenses 7,603 856 Environmental Engineering...

AI summary The document outlines decommissioning costs and administrative expenses related to a remediation study update for NSPI Power Production Sites, including demolition studies, consultant services, field supervision, and engineering costs, as part of a 2026-2027 GRA Direct Evidence Appendix.

es and Mooring Facilities 2,377,393 15 SITE SERVICES REMOVALS 827,333 150 Site Services 153 Raw Water Supply 4,755 capping water at main and line removal of piping 154 Sewage Systems 4,755 removal same trench as water line 1 M deeper 155 S...

AI summary The text outlines costs associated with the removal of various site services and structures, including water supply lines, sewage systems, storm water systems, retaining walls, and buildings. Specific costs are noted for different components, such as the removal of the coal handling facility and associated structures.

LOCATION: MARINE TERMINAL POINT TUPPER DATE: 15-Jul-24 Account Estimated Cost: Item Description Assumptions/ Notes:2024 Code July 2024 23 COAL HANDLING PLANT. REMOVE TO 1 METER BELOW GRADE 332,835

AI summary The document provides an estimate for the removal of a coal handling plant to 1 meter below grade at the Marine Terminal Point Tupper, with an estimated cost of $332,835 in July 2024.

July 2024 23 COAL HANDLING PLANT. REMOVE TO 1 METER BELOW GRADE 332,835 230 Waste Water / Effluent Treatment System 7,925 mosUy sch 40 PVC pipe 231 Coal Pile Distribution Facilities (incl. Coal Unloading Facilities and Primary Conveyors) 1...

AI summary The text details the costs associated with the decommissioning of coal handling and ash handling plants, including removal of structures, conveyors, and disposal systems. It outlines various components and their associated costs, such as waste water treatment systems, coal pile distribution facilities, and temporary coal handling plants.

LOCATION: MARINE TERMINAL POINT TUPPER DATE: 15-Jul-24 Account Estimated Cost: Item Description Assumptions/ Notes:2024 Code July 2024 700's COMMON SERVICES 71 WAlER SYSTEMS REMOVAL 710 General 711 Common I Domestic Water System 712 Auxili...

AI summary The document outlines estimated costs for the removal of various infrastructure systems at the Marine Terminal Point Tupper, including water systems, building ventilation and heating, and compressed gas services, with specific item codes and descriptions provided for each category.

separate from main Plant Building) 734 Disbict Heating / Cooling System 75 COMPRESSED GAS SERVICES REMOVAL (EXCLUDING FUEL GAS) 750 General 751 Plant Service Air System 752 Nitrogen System 753 Hydrogen System (when separate from Turbine/Ge...

AI summary The document outlines various costs associated with the removal of plant equipment and administration expenses, including decommissioning costs and administration expenses related to field facilities and decommissioning.

assessment, and $50,000 for the freshwater and terrestrial portion of the risk assessment. No change since 2020; therefore, apply inflation factor. 125 Phase 5 - Implementation of Decommissioning and Clean-up Plans: Preparation of Specific...

AI summary The text outlines costs for Phase 5 of a decommissioning and clean-up plan, including preparation of specifications and tender documents for coal laydown areas, with costs estimated similarly to previous projects. It also notes that air monitoring is not anticipated due to minimal remedial activities.

RAILCAR MAINTENANCE CENTRE DATE: DATE: 30-Jul-24 Account Estimated Cost: Estimated Cost: Item Description Assumptions / Notes: 2024 Code July 2020 July 2024 23 COAL HANDLING PLANT. REMOVE TO 1 METER BELOW GRADE N/A 230 Waste Water / Efflue...

AI summary The document outlines the estimated costs for decommissioning and removal activities at a railcar maintenance centre, specifically focusing on the coal handling plant and ash handling plant. It includes various account codes and descriptions related to the decommissioning process.

NSPORTATION AND RAILCAR MAINTENANCE CENTRE DATE: DATE: 30-Jul-24 Account Estimated Cost: Estimated Cost: Item Description Assumptions / Notes: 2024 Code July2020 July2024 57 AUXILIARY SYSTEMS AND EQUIPMENT REMOVALS 570 General 571 Lighting...

AI summary The document outlines various account codes and associated costs for auxiliary systems, electrical control and communication, and water systems removal at the NSPORTATION AND RAILCAR MAINTENANCE CENTRE as of July 2024. It includes estimated costs for different items and subcategories.

,098 400's TURBINES, GENERATORS AND AUXILIARIES: 41 TURBO-GENERATOR REMOVALS 3,006,100

AI summary The document text includes a line item for 'TURBO-GENERATOR REMOVALS' with a cost of $3,006,100 under the category 'TURBINES, GENERATORS AND AUXILIARIES'.

t - 42 Substation - 421 Demolition/removal substation transfonners (2 units) $19k/unit- disassembly (remove rads/oil tank-conservator/bushings), disconnection of cables, rigging for 38,000 removal of unit from pad- labour 422 Draining tran...

AI summary The text outlines the costs associated with the demolition and removal of various substation components, including transformers, grounding transformers, steel equipment, and foundations, as well as the use of a hydraulic crane for the project.

Expenses 69,483 2%ofTDREC 900's EQUIPMENT SALVAGE - RECOVERY 3,077,119 901 Turbine Components (steel & copper) for tower, hub, nacelle 2,560,000.00 Allow $128,000 per turbine (15%recovery) 902 TurbineTransformers (34) 340,000.00 3400 kVA p...

AI summary The text outlines various expenses related to equipment salvage and recovery, including turbine components, transformers, utility poles, and other infrastructure items, with specific recovery amounts and resale values noted for each category.

sion Control n/a 15 SITE SERVICES REMOVALS 14 760 150 Site Services n/a 153 Raw Water Suoolv n/a 154 Sewaae Svstems n/a 155 Storm Water and Floor Draina11e Svstems n/a 156 Retainino Walls Fences Gates Rail-wavs n/a 157 Miscellaneous lmorov...

AI summary The text outlines costs associated with site services removals and building structures, including raw water systems, sewage systems, storm water systems, and auxiliary buildings. It includes specific line items with associated costs, such as the removal of siding and concrete structures.

Estimated Cost 2024 Action Account Item Description Assumptions / Notes: By Code 2024 BOO's GENERAL AND ADMINISTRATION: 81 FIELD FACILITIES AND DECOMMISSIONING 57,180 811 Demolition Contractor Site trailers / Facilities 57,180 1.5% ofTDREC...

AI summary The document outlines estimated costs for field facilities, administration, and equipment salvage in 2024, with figures based on percentages of TDREC. These costs are associated with BOO's activities and include demolition, consultant services, supervision, and engineering expenses.

p in 2021. This area historically had scrap metals and minor items (overhead doors, conveyor structure, metal lighting mast, complete with fixtures and roof trusses) stockpiled here, which have been removed from the site. Applied inflation...

AI summary The text discusses the historical removal of scrap metals and minor items from a site, the application of an inflation factor to 2021 estimates, and the reduction of annual capital costs for progressive reclamation activities from 2021 through 2024, adjusted based on the published CPI and the higher costs associated with smaller programs.

LOCATION: Glen Morrison Quar!Jl DATE: July 2024 Account Estimated Action By Item Description Assumptions/ Notes: 2024 Code Cost2024 26 AUXILIARY BUILDING REMOVAL Covered in other sections (NOT ASSOCIATED WITH PRODUCTION PLANT) 27 OIL / GAS...

AI summary The document outlines various account actions related to the removal of structures and systems at a site, including auxiliary buildings, oil/gas supply structures, and boiler plant components. Some items are noted as not applicable to the site, while others include estimated costs, such as $5000 for fuel handling systems removal.

LOCATION: Glen Morrison Quar!Jl DATE: July 2024 Account Estimated Action By Item Description Assumptions/ Notes: 2024 Code Cost2024 77 PLANT OPERATING EQUIPMENT REMOVALS 770 Environmental - Monitoring Equipment 771 Maintenance Equipment 77...

AI summary The document outlines various costs associated with plant operating equipment removals, field facilities decommissioning, and administration expenses for 2024, including specific line items such as demolition contractor facilities, consultant services, field supervision, and environmental engineering costs.

21,000 NSPI involvement 856 Environmental Engineering Cost - Salaries and Expenses 21,000 to deal with changes to procedures and plan 900's SCHEDULES AND GENERAL DRAWINGS: 90 DRAWINGS 18,227 900 Final Site General Arrangement Drawing 18,22...

AI summary The document provides a summary of hydro decommissioning costs for the 2026-2027 period, including a breakdown of environmental engineering costs and drawing-related expenses associated with NSPI's involvement.

NET SALVAGE, ORIGINAL COST, BOOK RESERVE AND CALCULATED ANNUAL DEPRECIATION ACCRUALS RELATED TO ELECTRIC PLANT IN SERVICE AS OF DECEMBER 31, 2023 PROBABLE ESTIMATED NET ORIGINAL COST BOOK RESERVE CALCULATED COMPOSITE RETIREMENT SURVIVOR SA...

AI summary The text presents financial data related to the depreciation of electric plant assets as of December 31, 2023, including net salvage, original cost, book reserve, and calculated annual depreciation accruals for solar production plants and other production plants.

UIPMENT (KELLY ROCK) 12-2029 40 - R2 (5) 2,513,071 2,489,646 149,078 26,380 1.05 5.7 TOTAL GENERAL PLANT 740,996,013 287,433,514 467,888,732 53,887,702 7.27 d FULLY AMORTIZED GENERAL PLANT OFFICE FURNITURE AND EQUIPMENT 7,251,565 7,251,565...

AI summary The text presents financial data related to equipment and plant assets, including fully amortized general plant and depreciable plant studied. It outlines costs and values for various categories of equipment and total depreciation figures.

COST, BOOK RESERVE AND CALCULATED ANNUAL DEPRECIATION ACCRUALS RELATED TO ELECTRIC PLANT IN SERVICE AS OF DECEMBER 31, 2023 PROBABLE ESTIMATED NET ORIGINAL COST BOOK RESERVE CALCULATED COMPOSITE RETIREMENT SURVIVOR SALVAGE AS OF AS OF FUTU...

AI summary The text presents a table outlining the cost, book reserve, and calculated annual depreciation accruals related to electric plant in service as of December 31, 2023. It includes columns such as probable retirement date, estimated survivor curve, salvage percent, original cost, book reserve, future accruals, calculated annual accrual, and remaining life.

247) CAPITAL CONTRIBUTIONS (155,427,722) (154,748,262) SITE RESTORATION ASSET - - TOTAL DEPRECIABLE PLANT NOT STUDIED (128,441,598) (158,065,921) - - TOTAL DEPRECIABLE PLANT 7,797,417,965 3,358,922,389 5,535,377,118 365,694,997

AI summary The text presents financial data related to capital contributions and depreciable plant, including figures for different periods and categories such as site restoration assets and total depreciable plant not studied.

CI Number: 43324 Date: January 27, 2022 Expenditure Profile Type of Filing Year Budget Amount Project Estimate Capital Project Authorization X 2013 54,114 54,114 Unforeseen and Unbudgeted (U&U) 2014 323,882 319,327 Planned & Advanced (P&A)...

AI summary The document presents an expenditure profile with budget amounts, project estimates, and types of filings for various years from 2013 to 2021, highlighting different categories such as Unforeseen and Unbudgeted, Planned & Advanced, Subsequent Approval Item, and Authorization to Overspend.

Summary of Related CIs +/- 2 years Pursuant to Section 11.2 of the CEJC, related CIs for Transmission projects include "Work completed on the same asset class (Padmount transformers, Breakers, etc.) or in the same location (feeder, Transmi...

AI summary The document outlines related Cost Items (CIs) for Transmission projects under Section 11.2 of the CEJC, including specific projects like the Canso Crossing Double Circuit Tower upgrade and 345 KV Node Swap. It details depreciation classes and an estimated useful life of 45 years for transmission assets.

Retirement Information: Categorization of Retirement: Accounting Policy 6420 - Retirement and Disposal of CapitalAssets • Percentage of Asset Pool: 1.0%

AI summary The document references Accounting Policy 6420, which categorizes 1.0% of the asset pool under retirement and disposal of capital assets. This policy outlines procedures for handling the retirement of capital assets within the organization's accounting framework.

Variance Explanation The reduction of $3,440,719 from $22,067,148in the original submission to $18,626,428in this submission is due to the completion of subsequent additional detailed engineering and scoping. The design was subsequently op...

AI summary The variance explanation details a cost reduction of $3,440,719 due to design optimization and reduced material requirements following detailed engineering and scoping. The project involves replacing L6513 and upgrading line terminals, with cost savings reflected across multiple budget categories.

Parent CI Number : - Asset Location : 1455 - 1455 Transmission Plant General Budget Version UARB Submissions Capital Item Accounts Exp. Type Utility Account Forecast Amount Additions 0200 - TP - Land Rights 1,437,235 Additions 0300 - TP -...

AI summary The document presents a detailed breakdown of capital item accounts and associated costs for a transmission plant general project, including various additions, forecast amounts, and cost estimates for labor, materials, and other expenses.

CI Number: 43678 Date: January 27, 2022 Expenditure Profile Type of Filing Year Budget Amount Project Estimate Capital Project Authorization X 2014 68,290 68,290 Unforeseen and Unbudgeted (U&U) 2015 1,345,363 1,345,363 Planned & Advanced (...

AI summary The document presents a detailed expenditure profile for a capital project, including budget amounts, project estimates, and types of filings from 2014 to 2021. The total budget amount is $19,251,601, while the total project estimate is $20,387,278.

Title: Separate L8004/L7005 on Canso Crossing Double Circuit Tower (DCT) Start Date: 2014/01 In-Service Date: 2018/07 Final Cost Date: 2021/11 Function: Transmission Forecast Amount: $20,387,278

AI summary The document details a transmission project involving the separation of lines L8004/L7005 on the Canso Crossing Double Circuit Tower (DCT), with a forecasted cost of $20.4 million. The project started in 2014, became operational in 2018, and reached final cost in 2021, highlighting capital expenditures for transmission infrastructure.

DESCRIPTION: This project consisted of building a second transmission line tower crossing over the Strait of Canso to physically separate two existing transmission lines that shared common towers. As a result of the increased capacity and...

AI summary The project involved constructing a second transmission line tower over the Strait of Canso to separate shared 345kV and 230kV lines. Initially planned in ACE 2014-2017, it was referenced in the 2018 ACE Plan with a $19.25M budget. Now submitted for approval via the General Rate Application, the project is complete with final costs.

Summary of Related CIs (+/- 2 years): Pursuant to Section 11.2 of the CEJC, related CIs for Transmission projects include "Work completed on the same asset class (Padmount transformers, Breakers, etc.) or in the same location (feeder, Tran...

AI summary The text outlines related Capital Investments (CIs) for Transmission projects under Section 11.2 of the CEJC, including examples of specific projects (e.g., line terminal upgrades, thermal rating improvements) with associated costs and a depreciation class for Transmission Plant assets.

Why do this Project Now? The System Impact Study Report TSR400-SIS2-R1 prepared by the Nova Scotia Power System Operator dated 2013- 03 identified six actual, or potential, system upgrades required to prevent NS Power transmission related...

AI summary The 2013 System Impact Study Report identified necessary system upgrades to prevent thermal overloads and voltage collapses. This project, part of the Maritime Link initiative, was implemented before the project's interconnection to NS Power's grid. Originally scheduled for Q3 2017, the project aimed to align with design timelines, minimize outages, and reduce environmental impacts.

Asset Location : - Budget Version UARB Submissions 1455 1455 Transmission Plant General Capital Item Accounts Exp. Type Utility Account Forecast Amount Additions 0200 - TP - Land Rights 672,151 Additions 0300 - TP - Bldg.,Struct.Grnd. 24,5...

AI summary The document outlines capital item accounts related to the Transmission Plant General under the Budget Version UARB Submissions. It includes details on additions and retirements for various items, such as land rights, buildings, wood poles, and overhead conductors, along with cost estimates and references for the Canso Crossing Double Circuit Tower project executed between 2014 and 2019.

CI Number: 45066 Date: January 27, 2022 Expenditure Profile Type of Filing Year Budget Amount Project Estimate Capital Project Authorization X 2014 159,565 159,565 Unforeseen and Unbudgeted (U&U) 2015 3,372,430 2,192,324 Planned & Advanced...

AI summary The document outlines a detailed expenditure profile for a project from 2014 to 2017, including budget amounts, project estimates, and types of filings such as Unforeseen and Unbudgeted, Planned & Advanced, Authorization to Overspend, and Final Cost. The total expenditure is listed as $3,957,530 with a project estimate of $2,691,017.

Summary of Related CIs +/- 2 years: Pursuant to Section 11.2 of the CEJC, related CIs for Transmission projects include "Work completed on the same asset class (Padmount transformers, Breakers, etc.) or in the same location (feeder, Transm...

AI summary The summary outlines related Capital Investment (CI) projects for Transmission in Nova Scotia, including specific projects from 2014–2015, their costs, and the depreciation class and useful life for Transmission Plant equipment.

Reason for Variance: The reduction of $1,266,513 from $3,957,530 in the original submission to $2,691,017 in this submission is due to a large decrease in the number of structures that needed to be replaced. The original budgetestimate was...

AI summary The reduction of $1,266,513 in the budget is attributed to a decrease in the number of structures needing replacement, following Lidar & Thermal studies. This has led to cost reductions across multiple budget categories, as detailed in the Variance Page.

CI Number: 45067 Date: January 27, 2022 Expenditure Profile Type of Filing Year Budget Amount Project Estimate Capital Project Authorization X Unforeseen and Unbudgeted (U&U) 2014 1,030,887 899,897 Planned & Advanced (P&A) 2015 2,242,625 1...

AI summary The document presents an expenditure profile with budget amounts, project estimates, and types of filings for various years. It includes entries such as Unforeseen and Unbudgeted (U&U), Planned & Advanced (P&A), Authorization to Overspend (ATO), and Final Cost (FIN). The total figures are provided for reference.

Reason for Variance The final costs of $2,982,714 for the project were $767,760 lower than the original submission of $3,750,474, primarily due to the use of internal versus external labour. At the time of the original submission, the Proj...

AI summary The final project cost was significantly lower than the original submission due to the use of internal labour instead of external resources. This change led to cost savings across most budget categories and eliminated the need for contingency funds, although some costs increased due to market conditions and unforeseen requirements.

2,982,714 Capital Item Acco punts Ехр. Туре Utility Account Forecast Amount Additions 0300 - TP - Bldg.,Struct.Grnd. 752,279 Additions 0700 - TP - Environmental 2,345 Total Cost:

AI summary The text provides a summary of capital item additions for a utility account, including building, structural, and ground additions, as well as environmental additions, with forecast amounts totaling $754,624.

Original Cost: Transmission 45067-T801 Location: CI# / FP#:

AI summary The text provides a reference to a transmission cost item, identified by the code 45067-T801, along with a location and cost item/forecasting plan number. The context suggests this is part of a larger cost or project tracking system.

67N Onslow 345 kV Node Swap Title: Description Unit Quantity Unit Estimate Total Estimate Cost Support Reference Completed Similar Projects (FP#'s) Cables Frame Leakage Current Transformers Lot Lot 1 1 $ $ 104,052 $ 4,140 $ 104,052 4,140 I...

AI summary The document outlines cost estimates for various components and services related to the 67N Onslow 345 kV Node Swap project, including cables, insulators, breakers, civil works, and consulting services. It provides detailed breakdowns of unit estimates, quantities, and total costs for different project elements.

15 F. Capital Market Conclusions Interest rates on government and utility bonds have remained about the same as when the UARB approved the settlement in NSPI's previous GRA. This indicates that despite the uncertainties in the economy, the...

AI summary The document discusses the stability of interest rates for government and utility bonds since the UARB approved NSPI's previous GRA. It highlights long-term challenges for the utility industry, including climate change, decarbonization, and grid modernization, while noting load growth from electrification and data centers. Economic forecasts and modeling approaches are referenced.

10 Year System Outlook. 73 Third Session of the 63rd General Assembly of the Nova Scotia Legislature, March 9, 2021, Speech from the Throne. it did not specifically address the phase-out of coal for energy use.[74](#page-92-0) 1 However, B...

AI summary The document discusses Nova Scotia's 2030 Clean Power Plan, which includes renewable energy targets and the phase-out of coal by 2030. Morningstar DBRS acknowledges the plan but notes that it will require significant funding from provincial and federal governments. The plan also includes investments in wind, solar, natural gas, battery storage, and a new transmission line to New Brunswick.

Criteria Score Deemed Equity Below Average Allowed ROE Good Energy Cost Recovery Below Average Capital and Operating Cost Recovery Good Cost of Service vs. Incentive Rate Excellent Mechanism Political Interference Poor Stranded Cost Recove...

AI summary The document presents a table with various criteria and their respective scores, highlighting areas such as 'Deemed Equity' and 'Allowed ROE.' The section '2 e. Capital Cost Recovery' is mentioned, indicating a focus on capital cost recovery mechanisms.

3 NSPI files a capital budget with the Board annually, which includes the Company's capital budget 4 for the upcoming year, as well as a five-year outlook. As part of that filing, the Board approves 5 certain capital expenditures for the c...

AI summary NSPI files an annual capital budget with the Board, including a five-year outlook. The document compares NSPI's capital cost recovery risk to other Canadian utilities, noting higher risks in Alberta and factors contributing to NSPI's greater business risk, including regulated generation assets and aggressive DSM targets.

Re: M08349 – CI 47124 – Advanced Metering Infrastructure (AMI) Project – Costs Associated with Opt-Out Services The Nova Scotia Utility and Review Board (NSUARB, Board) approved Nova Scotia Power Incorporated's (NS Power, Company) applicat...

AI summary The Nova Scotia Utility and Review Board approved NS Power's AMI Project in 2018 and directed the company to explore cost-effective opt-out meter reading services and track associated costs. NS Power has installed over 531,000 smart meters, with 97% now using OTA billing. The Board approved discontinuing monthly updates due to NS Power's progress and commitment to complete installations.

Capital Investment In order to provide an opt-out option to customers, a capital investment was required to modify various NS Power systems to support a new, non-standard meter service. Like many IT investments, this involved the design, b...

AI summary A capital investment was made to modify NS Power systems to support a new non-standard meter service, allowing customers an opt-out option. The capital costs, included in CI 47124 - AMI Project, were incurred up to December 31, 2024, with no costs in 2022, 2023, or 2024.

8 COSS Model Run #16 Equivalent Peaker Method: - 9 This model run classifies non-fuel generation costs using the equivalent peaker method. NSP does - 10 not build new CT or coal units so the cost per kW of capacity is based on Capital Cost...

AI summary This section describes the use of the equivalent peaker method in the COSS Model Run #16 to classify non-fuel generation costs. Nova Scotia Power uses capital costs from the U.S. Energy Information Administration to determine the cost per kW of capacity, with calculations detailed in the BCF file.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 46 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) CONCENTRIC EVIDENCE: GRA COSS ELEMENTS will match the associated costs for the time period in question. Briggs also raises the issue of...

AI summary The text discusses the issue of data mismatch in forecasting net book value and depreciation expense for poles, noting that while capital additions exceed depreciation, much of the addition is due to asset replacement rather than growth. Briggs highlights this discrepancy and its implications.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests 1 In determining capital investment by functions, NS Power follows the FERC Uniform System of 2 Accounts supported by more detailed accounting activities at a...

AI summary NS Power explains its method for tracking capital investments in substations, noting challenges with hybrid and bulk power substations. It uses a pooled asset methodology and re-functionalizes investment records to align with industry principles for cost of service studies.

NON-CONFIDENTIAL 1 Request DR-18: 2 - 3 Please provide NS Power's transmission substation investment by transmission voltage. If 4 not available, please provide typical costs for substation transformers of the sizes and - 5 voltages used b...

AI summary NS Power does not track transmission substation investment by voltage due to pooled asset accounting. Instead, historical data would be required to estimate the rate base value associated with transmission substations by voltage. The response includes estimated transformer costs based on recent purchases.

20 Ending Balance, Net Regulated Plant In-Service ($ millions) Functional Class Depreciation Asset Pool 2023 2022 2021 2020 2019 Distribution Plant - D Poles, Towers and Fixtures 321 299 272 260 249 Transmission Plant - T Poles and Fixture...

AI summary The table presents the ending balance of net regulated plant in-service across different functional classes and years, highlighting changes in distribution and transmission plant values from 2019 to 2023. The data is part of a partially confidential GRA Direct Evidence Appendix.

2.6 OVERHEAD LINE AND SERVICE EXTENSIONS A service extension is normally terminated on the customer's building. Should it be necessary to terminate a service on a pole, or if the customer, for any other reason, requires that the Company pr...

AI summary The document outlines the conditions under which a customer may require an additional pole for service extension, specifying that the customer must contribute to the capital cost of the pole and provide necessary equipment such as the weatherhead, conduit, and meter base.

Nova Scotia Power Unmetered Services Pricing January 2022 1 3.0 UNMETERED SERVICE STUDY 2 3 Street and crosswalk lighting and area lights represent 95 percent of NS Power's unmetered service 4 units and the total revenue collected from unm...

AI summary The document outlines the methodology and schedules used in the 2022-2024 Unmetered Service Study by Nova Scotia Power, focusing on street and crosswalk lighting inventory levels, maintenance costs, depreciation, and capital-related expenses. It references the Cost of Service Study (COSS) and includes forecasted inventory levels based on actual data from 2021.

17 3.3 Schedule 3- Determination of Average Installation Labour Costs Associated with 18 Streetlighting Gross Assets 19 The installation and retirement costs for the fixtures are determined using the current approved 20 methodology for for...

AI summary Schedule 3 outlines the methodology for determining average installation labour costs related to streetlighting gross assets, using current approved methods, the number of fixtures, and recent market replacement values.

19 3.4 Schedule 4- Determination of Depreciation and Capital-related Costs by Fixture Type 20 Schedule 4 illustrates the determination of capital costs and rates for non-LED and LED fixtures. - 22 The Company has maintained the distinction...

AI summary Schedule 4 outlines the determination of capital costs and rates for non-LED and LED fixtures. The Company maintains a distinction between these two groups, as was done in the 2013 GRA, due to differences in their capital cost calculations.

1 2 3 TABLE E1-1 Nova Scotia Power Inc. 2022 Transmission Tariff WACC Rate Millions of dollars 1) Interest (Carrying Cost) a) Weighted Average Cost of Capital - Pretax Proportion Cost Extended ST Debt 3.80% 0.84% 0.03% LT Debt 57.40% 4.98%...

AI summary The document provides a detailed breakdown of Nova Scotia Power Inc.'s 2022 Transmission Tariff WACC Rate, including components such as interest, weighted average cost of capital, income tax, and grants in lieu of property tax. It outlines financial figures and percentages related to transmission expenses and allocated amounts.

1 TABLE E1-1 Nova Scotia Power Inc. 2024 Transmission Tariff WACC Rate Millions of dollars 1) Interest (Carrying Cost) a) Weighted Average Cost of Capital - Pretax Proportion Cost Extended ST Debt 0.90% 1.08% 0.01% LT Debt 55.30% 4.92% 2.7...

AI summary The table presents Nova Scotia Power Inc.'s 2024 Transmission Tariff WACC Rate, including weighted average cost of capital calculations, tax considerations, and forecasted expenses related to transmission infrastructure. It also references various GRA attachments and confidential documents.

Inclusion of Forecasted Costs - Mr. Briggs disputes the use of forecasted costs in the derivation of net book value and depreciation - expense associated with po[les](#page-180-2). 29 It is appropriate to use both capital and O&M forecaste...

AI summary Mr. Briggs disputes the use of forecasted costs in calculating net book value and depreciation for poles. He argues that using forecasted net book value with historical pole counts may lead to inaccuracies, as capital additions may reflect asset replacement rather than growth.

1 2 Capital Cost of 60 MW CT (1994) ($M) 39.06 CT Capacity (kW) 60,000 Cost per kW of Capacity ($) 651 Customer Demand Served (60 MW/1.2) 1 (MW) 50 Plant Life (years) 35 Real Cost of Money (%) 6.86 Annual Cost ($M) 3.031 Annual Cost of Loa...

AI summary The text presents a cost analysis of a 60 MW combined cycle (CT) power plant built in 1994, including capital costs, cost per kW, annual costs, and adjustments for inflation. The data includes details such as plant life, real cost of money, and customer demand served.

NON-CONFIDENTIAL - 1 Capital costs match 2022 Evergreen assumptions. 2 • All dollar amounts in the table are in 2021 dollars. 2022 Evergreen IRP assumptions were - 3 adjusted from 2022 dollars to 2021 dollars using an inflation rate of 4.0...

AI summary The document discusses capital costs aligned with the 2022 Evergreen IRP assumptions, adjusted for inflation, and highlights differences between the current interruptible credit and levelized cost calculations based on updated capital costs from the 2022 Evergreen IRP.

Input Assumptions - 1. Capital costs are for a 50MW combustion Turbine (Frame) from E3 Resource Option Study using 2021 nominal values; - 2. Fixed Operating costs are derived from E3 Resource Option Study using 2021 nominal values - 3. Scr...

AI summary The input assumptions outline capital and operating costs for a 50MW combustion turbine based on 2021 values from the E3 Resource Option Study. Assumptions include the incorporation of AFUDC into system costs, no administrative overhead, and annual escalation of FO&M costs at 2%.

Resource Cost, Performance, & Financing Performance Inputs Financing Performance Inputs Financing System Depreciable Lifetime 35 % Financed w/ equity % Financed w/ debt Ongoing Costs Debt Interest rate Fixed O&M Costs ($/kW-yr) $17.69 Cost...

AI summary The document presents a table outlining performance inputs and financing details for a system, including system cost, depreciation lifetime, financing percentages, interest rates, tax assumptions, and levelized costs. It includes data on capital costs, O&M expenses, and PRM adjustments.

COSS IG DR-10 Attachment 1 Page 5 of 6 Year 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Debt Term Flag 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Capital Cost $55,903,798 $55,903,798 $55,903,798 $55,903,798 $55,903,798 $55,903,798 $5...

AI summary The document presents a table showing capital costs, rate base, accumulated depreciation, and debt balances over multiple years. These figures are used to track financial obligations and asset depreciation for a regulatory proceeding, likely related to utility or energy infrastructure.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to IG Data Requests 1 Request DR-15: 2 3 Please detail NSPI's requirements regarding customer contributions for connecting large 4 industrial customers to the distribution system...

AI summary NSPI explains that it provides all distribution-connected customers with the same Free Service Allowance of up to 92 metres of line or service extension. Capital contributions from customers are not tracked by customer class and are applied against the cost of the project incurred by NS Power.

NON-CONFIDENTIAL 1 Request DR-2: 2 3 Provide NS Power's most recent costs for lowest capital cost peaking combustion turbines 4 that are natural gas fired as per the most recent IRP: 5 6 (a) Capital costs 7 8 (b) Cost of money to determine...

AI summary The document requests Nova Scotia Power's most recent costs for natural gas-fired peaking combustion turbines, including capital costs, cost of money, unit life, O&M, and equivalent capacity. NS Power responds that Frame CTs were the lowest cost option in the 2022 Evergreen IRP, providing capital costs of $1,278 per KW.

COSS SBA DR-6 Attachment 1 Page 3 of 24 121700 INVENTORY ASH 122050 INVENTORY COAL 122100 INVENTORY COAL FX 122150 INVENTORY BIOMASS 122200 INVENTORY BUNKER 122250 INVENTORY BUNKER C FX 122350 INVENTORY PROPANE 122400 INVENTORY DIESEL 1224...

AI summary The document contains a list of inventory and asset items, including fuel, coal, biomass, and other materials, as well as regulatory and financial assets. It also references a partially confidential appendix related to the 2026-2027 GRA Direct Evidence.

Functionalization (Standard for Electric Utilities) - Group similar assets and expenses - GenerationStations with many sub‐functions - PowerPurchases, Fuel, DSM and Storage - TransmissionLines: differentiated by voltage, towers, wires, etc...

AI summary The document outlines a standard for functionalization in electric utilities, emphasizing grouping similar assets and expenses. It includes categories like Generation Stations, Power Purchases, Fuel, DSM, Storage, Transmission Lines, and Distribution Lines, each with specific sub-functions and cost considerations.

Path to 2030 Report • In the 2023Annual Capital Expenditure (ACE) Plan Order (M11017) the UARB direct NS Power to: "File a detailed and specific plan outlining how the Company will achieve the 2030 obligations, what specific steps are requ...

AI summary The UARB directed NS Power to file a detailed plan in the 2023 ACE Plan Order (M11017) outlining how it will meet 2030 obligations. The Path to 2030 report was submitted on December 22, 2023, as part of the 2024 ACE Plan (M11458).

COSS Net Plant Value System NPV Transmission NPV Amount Cumulative Applicable Share Amount Cumulative % Share in System Cumulative Service Areas $4,079.5 $4,079.5 $833.8 $833.8 General Property $444.6 $4,524.1 20.4% $90.86 $924.7 20.4% Wor...

AI summary The text presents a table detailing Net Plant Value, System NPV, and Transmission NPV, including figures for Service Areas, General Property, Working Capital, and Operating Expenses. It also includes expense allocations such as Interest, Common, Income Tax, Grants in Lieu, and Misc Rev Credit, along with their respective shares and amounts.

Memo to Participants in COSS Stakeholder Process Net Book Value, at December 31, in millions. 2011 ($) 2023 ($) Communication Equip - SCADA 2.1 18.3 Remote Monitoring Equipment 0.7 1.3 Misc Equipment 15.3 23.5 Roads, Bridges and Trails 0.4...

AI summary The memo highlights significant growth in the Company's IT infrastructure, particularly in the Computer Software depreciation pool, with a net book value increase of $165 million from 2011 to 2023. This growth is attributed to IT infrastructure upgrades over the past 12 years, including ERP Upgrade, Work and Asset Management, Customer Energy Management, Data Center Disaster Recovery, and ADMS Upgrade.

3. Review of Treatment of General Plant During discussion in the COSS Stakeholder Engagement Session 2, held on February 22, 2024, intervenors noted that when looking at the COSS, General Plant costs had grown significantly. Intervenors we...

AI summary The document discusses the treatment of General Plant in the Cost of Service Study (COSS), noting significant growth in General Plant costs. It explains that General Plant includes NS Power's investments in buildings, communication equipment, transportation, and IT infrastructure, and that its Net Book Value is tracked separately and apportioned among generation, transmission, and distribution service areas.

November 1, 2024 Memo to Participants in COSS Stakeholder Process Net Book Value, at December 31, in millions. 2011 ($) 2023 ($) Stores Equipment 0.1 - Communication Equip 17.4 42.3 Communication Equip - SCADA 2.1 18.3 Remote Monitoring Eq...

AI summary The memo highlights a significant increase in the net book value of the Company's IT infrastructure, particularly in the Computer Software depreciation pool, from 2011 to 2023. This growth is attributed to major IT infrastructure upgrades over the past 12 years, including ERP Upgrade, Work and Asset Management, Customer Energy Management, Data Center Disaster Recovery, and ADMS Upgrade.

3. Review of Treatment of General Plant During discussion in the COSS Stakeholder Engagement Session 2, held on February 22, 2024, intervenors noted that when looking at the COSS, General Plant costs had grown significantly. Intervenors we...

AI summary The discussion during the COSS Stakeholder Engagement Session 2 highlighted significant growth in General Plant costs and the need for analysis of its impact on the COSS. General Plant includes NS Power's investments in buildings, communication equipment, transportation, and IT infrastructure. The NBV of General Property is tracked separately and apportioned among generation, transmission, and distribution based on relative NBV shares.

December 6, 2024 Memo to Participants in COSS Stakeholder Process Net Book Value, at December 31, in millions. 2011 ($) 2023 ($) Stores Equipment 0.1 - Communication Equip 17.4 42.3 Communication Equip - SCADA 2.1 18.3 Remote Monitoring Eq...

AI summary The memo highlights significant growth in the Company's IT infrastructure, particularly in the Computer Software depreciation pool, with a net book value increase of $165 million from 2011 to 2023. Key investments include ERP Upgrade, Work and Asset Management, Customer Energy Management, Data Center Disaster Recovery, and ADMS Upgrade.

General Plant Category 2025 2026 2027 2028 Computer Hardware 4.0 4.5 5.3 4.6 Computer Software 15.6 22.6 23.7 21.8 Vehicles 21.4 20.2 17.3 17.8 Telecommunication 15.2 15.3 15.3 4.3 Other 9.2 9.1 9.0 9.1 Total 65.4 71.7 70.6 57.7 2026-2027...

AI summary The document presents a table showing projected costs for various general plant categories from 2025 to 2028, including computer hardware, software, vehicles, telecommunications, and other expenses. The total costs are also provided for each year.

4 Table 2 – Summary of NS Power Proposed Methodology Status Quo Change Generation • Allocation except for treatment of purchased power • No initial classification to energy for environmental and fuel conversion reasons • Use system load fa...

AI summary NS Power proposes changes to its methodology for classifying and allocating costs related to generation, transmission, and distribution. Key changes include refunctionalizing radial-to-generation, using system load factors for classification, and creating new storage sub-functions. These changes aim to improve cost allocation and align with updated regulatory practices.

1 Requirement: 2 3 Capitalization 4 (A) Debt (%) 5 (B) Preferred (%) 6 (C) Common (%) 7 (D) Total Regulated Capitalization ($) 8 9 Financial ratios 10 (A) Return on approved regulated common equity (%) 11 (B) Average common equity ($M) 12...

AI summary The document outlines a table related to Nova Scotia Power Inc.'s capital structure and financial ratios, including debt, preferred and common equity percentages, total regulated capitalization, return on equity, average common equity, FFO interest coverage, and details of debt submissions. It references a partially confidential attachment for further details.

2026-2027 Financial Outlook 1 (1) Compliance (2) (3) Forecast (4) Present Rates (5) Present Rates (7) Proposed Rates (8) Proposed Rates 2 2024 Actual 2024 2025 2026 2027 2026 2027 3 4 5 Capitalization: 1- _ 6 Debt % 60.0% 60.0% 60.0% 60.0%...

AI summary The 2026-2027 financial outlook presents a table detailing capitalization, debt and common percentages, regulated capitalization figures, financial ratios, and debt details. It outlines financial performance metrics such as return on average common equity, FFO interest coverage, and cash flow to total debt, highlighting projections and actual figures for 2024, 2025, 2026, and 2027.

2026-2027 Financial Outlook 1 2026-2027 Financial Outlook (1) (2) (3) (4) Present (5) Present (6) Proposed (7) Proposed 2 Compliance 2024 Actual 2024 Forecast 2025 Rates 2026 Rates 2027 Rates 2026 Rates 2027 3 Assets 4 Fixed assets (net) 4...

AI summary The 2026-2027 Financial Outlook presents a detailed breakdown of assets, liabilities, and equity for a given entity, including forecasts for fixed and current assets, liabilities, and equity. The table outlines the financial position for 2024, 2025, and projected figures for 2026 and 2027.

2026-2027 Financial Outlook 1 (1) (2) (3) (4) Present (5) Present (6) Proposed (7) posed 2 npliance 2024 Actual 2024 Forecast 2025 Rates 2026 Rates 2027 Rates 2026 R ates 027 3 Operating Activities 2024 2024 1 0100001 2020 2020 202. 2020 -...

AI summary The financial outlook for 2026-2027 outlines operating activities, net earnings, and cash flows, including depreciation, deferrals, and regulatory amortization. It includes forecasts for operating cash flow, financing activities, and investing activities, providing a detailed financial projection for the period.

53 54 Constant Dollars 2024 202 4 Actual 2025BP 2026F 2027F 55 Power Production $ 8.8 $ 9.2 $ 9.2 $ 9.4 56 Enterpise Asset Management & Project Implementation 0.9 8.0 0.8 0.9 57 Environment 0.2 0.3 0.3 0.3 58 Energy Delivery (Formerly Cust...

AI summary The table presents financial data for various operational and corporate categories from 2024 to 2027, including power production, asset management, environment, energy delivery, customer experience, and corporate adjustments. It includes figures in constant dollars and highlights changes over time.

Nova Scotia Power Inc. FO-10Estimated Average Capital and Cost of Capital Year Ended December 31stThousands of Dollars

AI summary This document presents Nova Scotia Power Inc.'s FO-10 Estimated Average Capital and Cost of Capital for the year ended December 31, with figures provided in thousands of dollars.

3) Average capital reflects average of year-end balances. 1 Requirement: 2 3 Details of Interest Charges. 4 5 Submission: 6 7 Please refer to Partially Confidential Attachment 1. REDACTED 2026-2027 GRA FO-11 Attachment 1 Page 1 of 1 REDACT...

AI summary The text discusses the calculation of average capital based on year-end balances and refers to a confidential attachment containing details of interest charges. No further details are provided due to redaction.

2026-2027 Financial Outlook (1) (2) (3) (4) (5) (7) 1 Forecast Proposed Proposed Average Average 2 2025 Rates 2026 Rates 2027 2025/2026 2026/2027 Reference 3 Net Regulated Plant in Service 4 Net Regulated Plant in Service, beginning balanc...

AI summary The document presents a financial outlook for 2026-2027, focusing on changes in Net Regulated Plant in Service and Construction work in progress. It includes figures for asset additions, depreciation, salvage costs, and securitization proceeds, with references to various filings and line items.

A-7 PLANT MAINTENANCE ( Confidential/Non-Confidential ) - Power Production unit maintenance schedule (confidential) of all units (planned vs actual and budget schedule) - OM&G and Capital spending by station (non-confidential) - Reporting...

AI summary The document outlines the structure and content of the A-7 Plant Maintenance report, which includes maintenance schedules, OM&G and capital spending by station, reporting periods, and identification of major projects. The first report will establish a baseline for historical data.

Calcium Chloride 2015 Calcium chloride systems are installed at each plant. The systems are run as required, based on fuel blend. Nova Scotia Power Inc.Annual FAM Reporting NON-CONFIDENTIAL Year [20XX] NSPI (FAM) A-13c Mercury Abatement Pr...

AI summary The document discusses calcium chloride systems installed at each plant, operated based on fuel blend. It also includes confidential and non-confidential annual FAM reporting by Nova Scotia Power Inc., focusing on the Mercury Abatement Program and technical/capital changes.

Operations NSPI's earnings are most directly impacted by the range of ROE and capital structure approved by the NSEB, the prudent management and approved recovery of operating costs, electric sales volumes, weather, the approved recovery o...

AI summary NSPI's 2025 earnings are projected to rise but remain below the NSEB-approved ROE range, influenced by higher sales volumes, increased capital investment ($680M), and cost recovery mechanisms. The company emphasizes investments in system reliability and service.

Wasoqonatl Transmission Line: On March 5, 2025, NSPI, the Canada Infrastructure Bank ("CIB") and the Wskijinu'k Mtmo'taqnuow Agency ("WMA") announced the Wasoqonatl transmission line project to create a reliability intertie between Nova Sc...

AI summary NSPI, Canada Infrastructure Bank, and Wskijinu'k Mtmo'taqnuow Agency formed Wasoqonatl Transmission Incorporated (WTI) to build a reliability intertie between Nova Scotia and New Brunswick. WTI applied to NSEB for $685M capital investment approval, with a decision expected in Q4 2025. NSPI holds 50% indirect voting interest in WTI and will manage its operations.

Significant changes in the Condensed Consolidated Balance Sheets between June 30, 2025 and December 31, 2024 include: millions of dollars Increase (Decrease) Explanation Assets Receivables, net $ 145 Increased due to timing of activity Inc...

AI summary The condensed consolidated balance sheets show significant changes between June 30, 2025, and December 31, 2024, including increases in receivables, income taxes receivable, and inventory, and decreases in derivative instruments and regulatory liabilities. These changes are attributed to factors such as timing of activity, clean technology investment tax credits, and capital investment.

2026-2027 GRA OP-01 Attachment 1 Page 9 of 13 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NSPI's future liquidity and capital needs will be predominantly for working capital requirements, ongoing rate base investment and debt servicing. In...

AI summary NSPI anticipates significant capital needs for working capital, rate base investments, and debt servicing in 2025, with $680 million allocated to power system reliability projects. It has access to $800 million in revolving credit and $500 million in nonrevolving facilities, with $456 million available as of June 30, 2025, as detailed in the 'Debt Management' section.

Cash Flow used in Investing Activities Net cash used in investing activities increased $82 million to $298 million in 2025 compared to $216 million in 2024 due to higher capital investment.

AI summary Net cash used in investing activities increased by $82 million to $298 million in 2025 compared to $216 million in 2024, primarily due to higher capital investment.

(2) NSPI's discount notes are backed by a revolving credit facility which matures in 2029. (3) Future interest payments are calculated based on the assumption that all debt is outstanding until maturity. For debt instruments with variable...

AI summary The text outlines various financial and operational commitments of NSPI, including debt instruments, purchasing agreements, outsourced services, pension obligations, and operating leases. These commitments are relevant for assessing the company's financial responsibilities and planning.

Q2 2025 compared to Q2 2024 Q2 2025 net income decreased by $12 million compared to Q2 2024. The decrease is due to increased OM&G expenses, and increased depreciation and amortization due to increased PP&E in service. OM&G expenses increa...

AI summary Q2 2025 net income decreased by $12 million compared to Q2 2024, primarily due to increased OM&G expenses and higher depreciation and amortization from increased PP&E in service. OM&G expenses rose due to higher power generation costs and those related to a Cybersecurity Incident.

Nova Scotia Power Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) For the Six months ended June 30 millions of dollars 2025 2024 Operating activities Net income $ 116 $ 75 Adjustments to reconcile net income to net cash pr...

AI summary The condensed consolidated statements of cash flows for Nova Scotia Power Inc. for the six months ended June 30, 2025, and 2024, show net income of $116 million and $75 million, respectively. Net cash provided by operating activities was $95 million in 2025 and $296 million in 2024. Investing activities used $298 million in 2025 and $216 million in 2024. Financing activities provided $211 million in 2025 and used $120 million in 2024.

13. REDEEMABLE PREFERRED STOCK On August 30, 2024, NSPI authorized 800,000 redeemable preferred shares and issued 400,000 redeemable preferred shares ("Series A") at a par value of $25 per share to finance the Battery Energy Storage System...

AI summary NSPI issued 400,000 redeemable preferred shares (Series A) at a par value of $25 per share to finance the Battery Energy Storage System Project. These shares are accounted for as a liability on the balance sheets, and dividends are recorded as interest expense.

INTRODUCTION AND STRATEGIC OVERVIEW Emera (TSX/NYSE: EMA) is a North American provider of energy services, owning and operating a portfolio of cost-of-service, rate-regulated electric and gas utilities. Its largest operations are in Florid...

AI summary Emera is a North American energy services provider with a focus on regulated utilities, particularly in Florida, Atlantic Canada, New Mexico, and the Caribbean. Its strategy involves investment in regulated utilities, operational efficiency, and reliability. Earnings depend on rate base, equity, and return on equity, with Florida utilities accounting for the majority of its rate base. A significant capital investment plan of approximately $20 billion is forecasted from 2025 to 2029, primarily in Florida.

2026-2027 GRA OP-01 Attachment 3 Page 4 of 31 REDACTED (CONFIDENTIAL INFORMATION REMOVED) As at millions of dollars 2025 2026 2027 2028 2029 Total Capital investment plan $ 3,420 $ 3,990 $ 4,050 $ 4,380 $ 4,590 $ 20,430 Average consolidate...

AI summary The document presents a capital investment plan and average consolidated rate base for 2025 through 2029, showing increasing figures for both US and Canadian operations. The data excludes NMGC, with further details on its pending sale referenced in 'Other Developments.'

2026-2027 GRA OP-01 Attachment 3 Page 8 of 31 REDACTED (CONFIDENTIAL INFORMATION REMOVED) For the Six months ended June 30 millions of dollars 2025 2024 Operating cash flow before changes in working capital $ 1,306 $ 1,244 Changes in worki...

AI summary The document presents cash flow and balance sheet data for the six months ended June 30, 2025, and December 31, 2025. Operating cash flow decreased from 1,193 million to 799 million, while investing cash flow was negative at 1,672 million. Total assets decreased slightly to 42,531 million, and total long-term debt remained nearly unchanged at 18,423 million.

2026-2027 GRA OP-01 Attachment 3 Page 11 of 31 REDACTED (CONFIDENTIAL INFORMATION REMOVED) On February 3, 2025, the FPSC issued the final order approving the rate case decision, effective January 1, 2025. For additional details on the rate...

AI summary The FPSC approved a rate case decision in February 2025, which was later challenged but ultimately upheld. A motion for reconsideration was denied, except for minor corrections. Additionally, a petition for recovery of $466 million USD in storm-related costs was approved, subject to a true-up mechanism. Capital investments in the Florida Electric Utility segment are expected to reach $1.7 billion USD in 2025.

NSPI NSPI anticipates earning below its allowed ROE range in 2025. NSPI expects earnings in 2025 to be higher than 2024. Sales volumes are expected to be higher in 2025 than 2024. On March 5, 2025, NSPI, the Canada Infrastructure Bank ("CI...

AI summary NSPI expects to earn below its allowed ROE range in 2025 but anticipates higher earnings than in 2024. Sales volumes are also expected to increase. NSPI is involved in the Wasoqonatl transmission line project with CIB and WMA, and is investing approximately $680 million in capital projects to support power system reliability.

NSPML Equity earnings from NSPML in 2025 are expected to be consistent with 2024. The NSPML investment is recorded as "Investments subject to significant influence" on Emera's Consolidated Balance Sheets. On July 18, 2025, NSPML submitted...

AI summary NSPML expects consistent equity earnings in 2025 compared to 2024. It has submitted applications to recover costs for the Maritime Link and submarine cable protection, with decisions expected in Q4 2025. NSPML also received approval to collect funds from NSPI in 2025, with a holdback mechanism in place.

PGS PGS anticipates earning at the bottom of its allowed ROE range in 2025. USD earnings for 2025 are expected to be consistent with 2024 primarily due to higher operating costs and depreciation driven by ongoing capital investments to sup...

AI summary PGS expects to earn at the lower end of its allowed ROE range in 2025, with USD earnings consistent with 2024 due to increased operating costs and depreciation from capital investments. PGS filed a rate case with the FPSC in March 2025, requesting a USD 93 million increase in annual base rates and additional adjustments for 2027. A settlement agreement in principle was reached in August 2025, with details expected to be filed with the FPSC.

Other Electric Utilities Other Electric Utilities' USD earnings in 2025 are expected to be consistent with the prior year. In 2025, capital investment in the Other Electric Utilities segment is expected to be approximately $140 million USD...

AI summary Other Electric Utilities' USD earnings in 2025 are expected to remain consistent with the prior year, with capital investment projected at approximately $140 million USD, including AFUDC, focused on more efficient and cleaner generation sources such as renewables and battery storage.

LIQUIDITY AND CAPITAL RESOURCES The Company generates internally sourced cash from its various regulated and non-regulated energy investments. Utility customer bases are diversified by both sales volumes and revenues among customer classes...

AI summary Emera generates cash from regulated and non-regulated energy investments, with liquidity sufficient to meet near-term capital needs and debt obligations. The company has a capital investment plan of approximately $20 billion from 2025 to 2029, supported by operations, debt, equity, and the pending sale of NMGC. Credit facilities provide significant liquidity, and the company maintains a cash balance of $204 million as of June 30, 2025.

Cash Flow from Investing Activities Net cash used in investing activities increased $1,257 million to $1,672 million for the six months ended June 30, 2025, compared to $415 million for the same period in 2024. The increase was due to the...

AI summary Net cash used in investing activities rose to $1,672 million for the six months ended June 30, 2025, due to higher capital investments and proceeds from the sale of LIL in 2024. Capital investments totaled $1,757 million, with significant increases across various utility segments.

As at June 30, 2025, contractual commitments for each of the next five years and in aggregate thereafter consisted of the following: millions of dollars 2025 2026 2027 2028 2029 Thereafter Total Long-term debt principal (1)(2) $ 23 $ 1,257...

AI summary As of June 30, 2025, the document outlines contractual obligations for the next five years and beyond, including long-term debt, interest payments, purchased power, transportation, fuel, capital projects, and other commitments. These obligations are expected to be transferred to the buyer upon the completion of the sale of NMGC.

Common Stock millions of millions of Issued and outstanding: shares dollars Balance, December 31, 2024 295.94 $ 9,042 Issuance of common stock under ATM program (1) 0.19 10 Issued under the DRIP, net of discounts 2.68 153 Senior management...

AI summary The document outlines the changes in common stock issued and outstanding for the period ending June 30, 2025, including details on stock issuance under various programs and the remaining sales limit under the ATM program.

(2) Segment net income is reported on a basis that includes internally allocated financing costs of $8 million for the three months ended June 30, 2025, and $14 million for the six months ended June 30, 2025 between the Gas Utilities and I...

AI summary The text discusses the inclusion of internally allocated financing costs in the segment net income for the Gas Utilities and Infrastructure and Other segments, reporting figures of $8 million for the three months ended June 30, 2025, and $14 million for the six months ended June 30, 2025.

As at June 30 December 31 millions of dollars 2025 (1) 2024 Regulatory assets Deferred income tax regulatory assets $ 1,274 $ 1,227 TEC capital cost recovery for early retired assets 710 737 Storm cost recovery clauses 447 613 Pension and...

AI summary The text provides a table showing regulatory assets and liabilities for various entities as of June 30, 2025, and December 31, 2024. It includes items such as deferred income tax, cost recovery clauses, and environmental remediations. A note mentions that NMGC's assets and liabilities were classified as held for sale following an agreement announced by Emera on August 5, 2024.

NSPML On July 18, 2025, NSPML submitted an application to the NSEB requesting recovery of approximately $199 million in Maritime Link costs for 2026. On May 21, 2025, NSPML submitted an application to the NSEB for approval of a $33 million...

AI summary NSPML has submitted applications to recover costs related to the Maritime Link and submarine cable protection, totaling approximately $232 million. NSPML was approved in 2024 to collect up to $197 million from NSPI in 2025, with a potential holdback of up to $4 million per month.

15. RELATED PARTY TRANSACTIONS In the ordinary course of business, Emera provides energy and other services and enters into transactions with its subsidiaries, associates and other related companies on terms similar to those offered to non...

AI summary Emera engages in intercompany transactions with subsidiaries and related parties, including energy and service agreements. Key transactions include Maritime Link assessments, natural gas transportation capacity purchases, and asset sales. These transactions are reported in financial statements and are eliminated on consolidation, with exceptions for net profit between regulated and non-regulated entities.

A. Commitments As at June 30, 2025, contractual commitments (excluding pensions and other post-retirement obligations, long-term debt and asset retirement obligations) for each of the next five years and in aggregate thereafter consisted o...

AI summary This section outlines contractual commitments as of June 30, 2025, excluding pensions, long-term debt, and asset retirement obligations, detailing commitments for each of the next five years and in aggregate thereafter.

2. Quarterly test year figures are based on an allocation of the annual test year amounts as these amounts are not profiled quarterly. As at June 30 millions of Canadian dollars 2025(1) Unregulated Retained Earnings Unregulated retained ea...

AI summary This text provides quarterly test year figures for unregulated retained earnings, property, plant and equipment, other assets, deferred income taxes, and related parties for June 30, 2025. The figures are based on an allocation of annual test year amounts due to the lack of quarterly profiling. Certain adjustments are forecast due to a cybersecurity incident and its response.

Table of Contents (Cont'd) - ◼ Capital Additions Metrics - Capital Employed per Retail Customer - Total Plant Additions as Percent of Total Electric Plant - Total Plant Additions as Percent of Depreciation Expense - Production Additions as...

AI summary The document provides a table of contents for a regulatory proceeding, outlining various metrics related to capital additions, finance and accounting, human resources, supply chain, and information technology, as well as appendices covering technical details of energy infrastructure.

Capital Additions Metrics 5-Year Average Category Median NSPI Total Plant Additions Total Capital Employed per Retail Customer $11,778 $7,753 Total Plant Additions as % of Total Electric Plant 6.1% 5.1% Total Plant Additions as % of Deprec...

AI summary This section presents a comparison of capital additions metrics between the median and Nova Scotia Power Inc. (NSPI) over a five-year period, highlighting differences in total plant additions, production, transmission, and distribution capital additions as percentages of respective plant values and depreciation expenses.

CA1 – Capital Employed per Retail Customer - ◼ On a 5-year average basis, NSPI Capital Employed (or Net Plant) per Retail Customer lowest of the peer group - ◼ NSPI Capital Employed per Retail Customer in 2023 was 8% higher than in 2019, w...

AI summary NSPI's Capital Employed per Retail Customer is compared to peer companies, showing that NSPI's Capital Employed per Retail Customer was 8% higher in 2023 compared to 2019, while the peer median increased by 14% over the same period. NSPI's Net Plant was 13% higher in 2023 compared to 2019, while the peer median was 23% higher. The number of retail customers for both NSPI and peers increased by 5% from 2019 to 2023.

CA2 – Total Plant Additions as % of Total Electric Plant - ◼ On a 5-year average basis, NSPI Total Plant Additions as a Percent of Total Electric Plant is lower than the peer median - ◼ NSPI Total Plant Additions as a Percent of Total Elec...

AI summary NSPI's Total Plant Additions as a Percent of Total Electric Plant has been lower than the peer median on a 5-year average basis. While NSPI's Total Plant Additions increased by 17% from 2019 to 2023, the peer median increased by only 4%. NSPI's Total Electric Plant increased by 14% in nominal terms, compared to a 26% increase for the peer median.

CA10 – General Plant Additions as % of Total General Plant - ◼ On a 5-year average basis, NSPI General Plant Additions as a Percent of Total General Plant is at the median of the peer group - ◼ NSPI General Plant Additions as a Percent of...

AI summary NSPI's General Plant Additions as a Percent of Total General Plant have decreased slightly over recent years, but nominal values have increased significantly compared to 2019. NSPI's performance is at the median of the peer group, with peer median General Plant Additions showing a larger increase than NSPI's.

CA11 – General Plant Additions as % of Depreciation Expense - ◼ On a 5-year average basis, NSPI General Plant Additions as a Percent of Depreciation Expense is below the peer group median and second lowest - ◼ NSPI General Plant Additions...

AI summary NSPI's General Plant Additions as a Percent of Depreciation Expense has been below the peer group median, with a slight increase between 2019 and 2023. While NSPI's additions increased by 19% in nominal terms, the peer median increased by 34%. Depreciation expenses for NSPI rose 18% compared to 2019, while the peer median rose 39%.

Summary Observations - ◼ On a 5-year average basis, NSPI Capital Employed per Retail Customer is just below the median. On a trend basis, NSPI moved above the median in 2021-2023 - ◼ On a 5-year average basis, NSPI Total Plant Additions as...

AI summary The document provides a comparative analysis of NSPI's capital and plant additions metrics relative to peer groups over a five-year period, highlighting trends in capital employed, plant additions, and depreciation expenses.

Observations - ◼ Percentage of Total IT Cost Allocated to Capital Costs in 2023 is just above the industry group median - ◼ NSPI Percentage of Total IT Cost Allocated to Capital Costs decreased by 16 percentage points between 2019 and 2023...

AI summary The text discusses changes in NSPI's IT cost allocation and capital costs over time, noting a decrease in the percentage of IT costs allocated to capital costs and a decline in capital costs compared to an increase in total IT costs.

Emera at a Glance $7.6 B 2022 revenue 1 6 High-quality regulated utilities $40 B total assets1 41% reduction in CO 2 emissions since 2005 1 60%+ capital plan committed to cleaner, reliable energy 68 % reduction in use of coal in generation...

AI summary Emera, a company with six high-quality regulated utilities, reported a 2022 revenue of $7.6 billion and total assets of $40 billion. It has reduced CO2 emissions by 41% since 2005 and plans a $8.9 billion capital investment from 2024 to 2026, with 75% focused in Florida. The company aims for a 10.0% annualized 10-year total shareholder return and has committed 60% of its capital plan to cleaner, reliable energy.

Visible Growth Plan - $8.9B baseline capital investment plan through 2026 1,2 - 7.0% forecasted rate base growth through 2026 2

AI summary The Visible Growth Plan outlines an $8.9 billion baseline capital investment through 2026, with a forecasted 7.0% rate base growth over the same period.

1. Rate Base Growth • Deploy $8.9B baseline capital plan to achieve forecasted rate base growth of 7% annualized through 2026. An additional $2.3 billion of potential capital investments over the same period could drive rate base growth up...

AI summary The document outlines a baseline capital plan of $8.9 billion aimed at achieving 7% annualized rate base growth through 2026, with an additional $2.3 billion in potential investments that could increase growth to approximately 8% annualized.

Capital Plan $8.9 B 2024-2026 baseline capital spend 1 7% Rate base growth through 2026 1 75% of capital plan focused in Florida 1 An additional $2.3 billion of potential capital investments over the same period could drive rate base growt...

AI summary The capital plan outlines a baseline of $8.9 billion in capital spending from 2024 to 2026, with 7% rate base growth expected by 2026. Approximately 75% of the capital plan is focused in Florida, and an additional $2.3 billion in potential investments could increase annualized rate base growth to around 8%.

2024-2026 $8.9B CAPITAL SPEND 1 1 Forecasted capital spend 2024-2026 in millions of CAD, includes $240M of additions to Emera's equity investment in LIL in 2024 2 Florida includes TEC & PGS; 3 Atlantic Canada includes Nova Scotia Power, NS...

AI summary The document discusses a forecasted capital expenditure of $8.9 billion from 2024 to 2026, including $240 million in additional equity investment by Emera in LIL in 2024. The figures are supported by several figures and notes, including regional breakdowns and other components of the capital spend.

Relative Earnings Impact on Capital Invested Emera's 2024-2026 Capital Plan reflects 75% of capital investment planned in the state of Florida in support of: - Replacing fuel cost exposure with renewable asset infrastructure - System relia...

AI summary Emera's 2024-2026 Capital Plan includes 75% of investments planned in Florida, focusing on replacing fuel costs with renewable infrastructure, enhancing system reliability, and supporting customer growth.

- Grid modernization and customer focused technologies Earnings Impact of Capital Profile Florida Nova Scotia Capital Investment $ 100 $ 100 Equity %5 54% 37.5% Equity $ $ 54 $ 37.5 Return on equity5 10.2% 9.0% EARNINGS IMPACT $ 5.51 $ 3.3...

AI summary The document discusses the earnings impact of capital investment profiles in Florida and Nova Scotia, comparing equity percentages and returns on equity. It references the 2024-2026 Capital Plan, highlighting financial considerations related to grid modernization and customer-focused technologies.

2024-2026 Target Sources of Funding for $8.9B Baseline Capital Plan :

AI summary The document presents the 2024-2026 target sources of funding for the $8.9B Baseline Capital Plan, illustrated in a figure. The figure likely outlines the distribution of funding across various initiatives and projects.

Debt Financing - 2024 Holdco Refinancing: - US$300M bond at Emera Finance LP - We expect to raise additional capital at operating companies to fund growth

AI summary The document discusses debt financing activities, including a 2024 Holdco Refinancing with a US$300M bond issued at Emera Finance LP, and plans to raise additional capital at operating companies to fund growth.

Capex 2024-2026 $4.0 billion baseline with additional potential investments of $0.5B

AI summary The document outlines a capital expenditure (Capex) plan with a baseline of $4.0 billion for the years 2024-2026, including an additional $0.5 billion in potential investments.

Capex 2024-2026 $1.2 billion baseline with additional potential investments of $1.0B

AI summary The document outlines a capital expenditure (Capex) plan for the period 2024-2026, with a baseline of $1.2 billion and the potential for an additional $1.0 billion in investments.

Regulatory Construct 8.50% approved ROE $740 million equity investment

AI summary The document outlines an approved ROE of 8.50% and an equity investment of $740 million, indicating key financial decisions made in the regulatory process.

Capex 2024-2026 $1.0 billion baseline with additional potential investments of $0.1B

AI summary The document outlines a baseline capital expenditure (Capex) plan for 2024-2026, set at $1.0 billion, with an additional potential investment of $0.1 billion.

Capex 2024-2026 $0.4 billion baseline and additional potential investments of $0.2B

AI summary The document outlines a baseline capital expenditure (Capex) of $0.4 billion for the period 2024-2026, with an additional potential investment of $0.2 billion.

Capex 2024-2026 $0.2 billion baseline and additional potential investments of $0.3B

AI summary The document outlines a baseline capital expenditure (Capex) of $0.2 billion for the period 2024-2026, with an additional $0.3 billion in potential investments.

Capital Forecast by Affiliate 2023F 2024F 2025F 2026F 2024–2026 Total US OPERATIONS Tampa Electric $ 1,340 $ 1,275 $ 1,535 $ 1,235 $ 4,045 Peoples Gas 370 345 385 310 1,040 Seacoast - 5 10 - 15 New Mexico Gas 120 135 125 115 375 Emera Cari...

AI summary The document presents a capital forecast by affiliate for various operations, including US and Canadian divisions, detailing projected capital expenditures from 2023 to 2026. It includes figures in USD and CAD, along with exchange rate assumptions and additional potential investments.

Reducing holding company leverage - Reduced Holdco debt to total debt by 3% - Pursuing asset sales with proceeds available to retire holding company debt

AI summary The document outlines efforts to reduce holding company leverage by decreasing Holdco debt to total debt by 3% and pursuing asset sales to retire holding company debt.

In addition to capital spend, includes $240M of additions to Emera's equity investment in LIL in 2024

AI summary The text mentions an additional $240M in equity investment by Emera in LIL for 2024, beyond capital expenditures.

Emera at a Glance $7.6 B 2023 revenue 1 High-quality regulated utilities $39 B total assets1 47 % reduction in CO 2 emissions since 2005 1 62 % of capital plan committed to cleaner, reliable energy 77 % reduction in use of coal in generati...

AI summary Emera provides an overview of its financial and operational highlights, including revenue, total assets, CO2 emissions reduction, capital plan commitments, and dividend growth targets. The company emphasizes its focus on clean energy and regulated utilities, with a significant portion of its capital plan allocated to Florida.

Visible Growth Plan - $8.9B baseline capital investment plan through 2026 1,2 - 7.0% forecasted rate base growth through 2026 2

AI summary The Visible Growth Plan outlines an $8.9 billion baseline capital investment plan through 2026, with a forecasted 7.0% rate base growth during the same period.

New Mexico Gas - In September 2023, NMGC filed a rate application for new rates effective October 2024 - NMGC requested a ~$49M USD increase in annual base rates, reflecting an ROE of 10.5% (currently 9.375%) and a capital structure of 53%...

AI summary NMGC filed a rate application in September 2023 requesting a ~$49M USD increase in annual base rates, effective October 2024, based on a requested ROE of 10.5% (currently 9.375%) and a capital structure of 53%/47% equity/debt (currently 52%/48%).

Investing in Cleaner, More Reliable Energy CLEANER & MORE RELIABLE CAPITAL PROJECTS (2024-2026)1 Tampa Electric – Storm Hardening $ 795 Tampa Electric – Solar Investments 690 Tampa Electric – Grid Modernization, AMI and LED 550 Nova Scotia...

AI summary The document outlines capital projects from 2024 to 2026 aimed at enhancing energy reliability and cleanliness, including storm hardening, solar investments, grid modernization, and battery storage, with a total investment of $5,520 million, representing 62% of the baseline capital program.

Capex 2024-2026 $4.0 billion baseline with additional potential investments of $0.5B

AI summary The document outlines a baseline capital expenditure (Capex) plan of $4.0 billion for the years 2024 to 2026, with the possibility of an additional $0.5 billion in investments.

Capex 2024-2026 $1.2 billion baseline with additional potential investments of $0.9B

AI summary The document outlines a capital expenditures (Capex) plan for 2024-2026, with a baseline of $1.2 billion and the potential for an additional $0.9 billion in investments.

Regulatory Construct 8.50% approved ROE $747 million equity investment

AI summary The document mentions an approved return on equity (ROE) of 8.50% and an equity investment of $747 million, likely related to a regulatory decision or approval.

Capex 2024-2026 $1.0 billion baseline with additional potential investments of $0.1B

AI summary The document outlines a baseline capital expenditures (CAPEX) plan for the period 2024-2026, with a total of $1.0 billion allocated, and an additional $0.1 billion in potential investments.

Capex 2024-2026 $0.4 billion baseline and additional potential investments of $0.2B

AI summary The document outlines a baseline capital expenditure (Capex) of $0.4 billion for the period 2024-2026, with an additional potential investment of $0.2 billion.

Capex 2024-2026 $0.2 billion baseline and additional potential investments of $0.3B

AI summary The document outlines a baseline capital expenditure (Capex) of $0.2 billion for the period 2024-2026, with an additional potential investment of $0.3 billion.

Renewable Natural Gas (RNG) – Peoples Gas - Completed the New River, Brightmark, and Alliance RNG projects at PGS - New RNG pipeline project in development stages Note: Amounts in millions of Canadian dollars unless otherwise noted 1 Forec...

AI summary Peoples Gas has completed several RNG projects and is developing a new pipeline. Forecasted capital spend from 2024-2026 is expected to drive 7-8% rate base growth, with potential for up to 8% annualized growth if additional investments are made.

Delivering on Growth and Sustainability CLEANER & MORE RELIABLE CAPITAL PROJECTS (2024-2026)1,2 Tampa Electric – Storm Hardening $ 795 Tampa Electric – Solar Investments 690 Tampa Electric – Grid Modernization, AMI and LED 550 Nova Scotia...

AI summary The document presents a summary of cleaner and more reliable capital projects from 2024 to 2026, including investments by various entities such as Tampa Electric and Nova Scotia Power, with a total forecasted capital spend of $5.52 billion, representing 62% of the baseline capital program.

2. Traditional Financing Plan Supporting Growth - Focused on raising debt at the operating company level - Room in funding plan for additional hybrid capital - Issued $700M of common equity in 2023 via the ATM, DRIP and other employee plans

AI summary The traditional financing plan focuses on raising debt at the operating company level, with room for additional hybrid capital. In 2023, $700M of common equity was issued through the ATM, DRIP, and other employee plans.

2024-2026 Target Sources of Funding for $8.9B Baseline Capital Plan: REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA OP-12 Attachment 1 Page 156 of 684

AI summary The document presents a figure related to the 2024-2026 Target Sources of Funding for the $8.9B Baseline Capital Plan. The figure is redacted, indicating that confidential information has been removed from the document.

In addition to capital spend, includes $240M of additions to Emera's equity investment in LIL in 2024

AI summary The text mentions an additional $240M in equity investment by Emera in the Labrador Island Link (LIL) in 2024, beyond capital spend.

1 Average rate base; 2 USD/CAD exchange rate for 2022 updated to reflect forecasted rate; 3 Capital structures that support the rate base include deferred tax liabilities (DTL), a zero cost-of-capital component of the capital structure in...

AI summary The text discusses rate base calculations, including deferred tax liabilities, capital structures, and investment values. It references specific figures and components such as USD/CAD exchange rates, capital lease investments, and equity investments in regulated pipeline projects.

Visible Growth Plan - $8.8B baseline capital investment plan through 2026 1,2 - 7.0% forecasted rate base growth through 2026 2

AI summary The Visible Growth Plan outlines an $8.8 billion baseline capital investment plan through 2026, accompanied by a forecasted 7.0% rate base growth during the same period.

Strong record of execution - Capital plan fully deployed in each of the last five years - Excluding the impact of asset sales in 2018, achieved annual adjusted EPS 1 growth of 4.7% over the last five years 2 and 5.3% over the last 3 years....

AI summary The document highlights a strong record of execution, including the full deployment of the capital plan over the last five years, consistent dividend increases, and EPS growth driven by strategic capital allocation and portfolio optimization.

Projected Cash flow improvements in 2024 - 6.9% rate increase at NSPI effective January 1, 2024 ($115M) - New base rates at Peoples Gas effective January 1, 2024 ($107M USD) - New base rates at Tampa Electric effective January 1, 2024 ($21...

AI summary The document outlines projected cash flow improvements in 2024, including rate increases at NSPI and other utilities, regulatory approvals, and capital investments. It highlights a capital plan with a baseline spend of $8.8 billion from 2024 to 2026, focusing 75% on Florida, and potential for higher rate base growth.

Investing in Cleaner, More Reliable Energy 2024 – 2026 Forecasted Capital Spend 1,2,3 $8.8 B

AI summary The document presents a forecast of capital spending from 2024 to 2026, estimating an investment of $8.8 billion in cleaner and more reliable energy initiatives.

2024-2026 Target Sources of Funding for $8.8B Baseline Capital Plan :

AI summary The document presents a figure outlining the target sources of funding for the $8.8B Baseline Capital Plan between 2024 and 2026. It includes various funding mechanisms and sources, though specific details are not provided in the text.

Asset Sales • Divested minority equity interest in Labrador Island Link for ~$1.2B

AI summary The entity has divested its minority equity interest in Labrador Island Link for approximately $1.2 billion.

Capex 2024-2026 $4.0 billion baseline with additional potential investments of $0.5B

AI summary The document outlines a capital expenditure (Capex) baseline of $4.0 billion for the period 2024-2026, with an additional $0.5 billion in potential investments.

Capex 2024-2026 $1.4 billion baseline with additional potential investments of $0.8B

AI summary The document outlines a capital expenditure (Capex) plan for 2024-2026, with a baseline of $1.4 billion and an additional $0.8 billion in potential investments.

Capex 2024-2026 $1.0 billion baseline with additional potential investments of $0.1B

AI summary The document outlines a baseline capital expenditure (Capex) plan for 2024-2026, totaling $1.0 billion, with an additional $0.1 billion in potential investments.

Capex 2024-2026 $0.4 billion baseline

AI summary The document outlines a baseline capital expenditure (Capex) of $0.4 billion for the period 2024-2026.

Capex 2024-2026 $0.2 billion baseline and additional potential investments of $0.3B

AI summary The document outlines a baseline capital expenditure (Capex) budget of $0.2 billion for the period 2024-2026, with an additional $0.3 billion in potential investments.

Customer Growth • 1.8% and 4.4% YTD 2024 for TEC and PGS, respectively 1 Forecasted USD capital spend translated at $1.30 in 2024-2026 2 YTD capital investments, including AFUDC for the six months ended June 30, 2024

AI summary The document highlights customer growth rates for TEC and PGS at 1.8% and 4.4% YTD 2024, respectively, along with forecasted USD capital spend and YTD capital investments, including AFUDC for the six months ended June 30, 2024.

Visible Growth Plan - $8.8B baseline capital investment plan through 2026 1,6 - 7-8% forecasted rate base growth through 2029 6 - 5-7% three-year average target adjusted EPS 2 growth though 2027

AI summary The Visible Growth Plan outlines an $8.8B capital investment plan through 2026, with a forecasted 7-8% rate base growth through 2029 and a target of 5-7% three-year average adjusted EPS growth through 2027.

Completed Strategic Initiatives - 1 Closed $1.2B CAD Labrador Island Link transaction with proceeds used to reduce corporate debt and fund investments in our regulated utility businesses - 2 Replaced Holdco debt with $500M USD of hybrid no...

AI summary The document outlines completed strategic initiatives, including the closure of a major transaction, debt replacement, dividend growth rate adjustment, and the announcement of a sale agreement for a business unit, with proceeds used for debt reduction and investment.

CLEANER & MORE RELIABLE CAPITAL PROJECTS (2024-2026) 1 Tampa Electric – Storm Hardening $ 795 Tampa Electric – Solar Investments 690 Tampa Electric – Grid Modernization, AMI and LED 550 Nova Scotia Power – Reliability Projects 650 New Mexi...

AI summary The document outlines capital projects aimed at enhancing reliability and clean energy initiatives between 2024 and 2026, including storm hardening, solar investments, grid modernization, and battery storage, with total investment amounts listed for various entities and projects.

Forecasted Rate Base1,2 1 Average total rate base in millions of Canadian dollars. U.S. dollar denominated rate base is translated at a forecasted USD/CAD rate of $1.30 in 2024-2026 2 Labrador Island Link removed from historical and foreca...

AI summary The document discusses the forecasted rate base for 2024-2026, noting the removal of Labrador Island Link from the rate base following its disposition and the announcement of an agreement for the sale of NMGC. The forecasted USD/CAD exchange rate is set at $1.30 for the period.

2024-2026 $8.8B CAPITAL SPEND1,5 1 Forecasted capital spend 2024-2026 in millions of CAD 2 Florida includes TEC & PGS; 3 Atlantic Canada includes Nova Scotia Power and the NSP Maritime Link; 4 Other includes ECI, NMGC & Pipelines 5 Announc...

AI summary The document discusses a capital spending plan of $8.8B for 2024-2026, including exploration of Carbon Capture and Sequestration (CCS) and Clean Hydrogen production at the Polk Power Station. It highlights the potential for significant investment, supported by federal funding, and outlines geological and technical progress in feasibility studies.

2024-2026 Target Sources of Funding for $8.8B Baseline Capital Plan1,3 :

AI summary The document presents the 2024-2026 target sources of funding for the $8.8B Baseline Capital Plan, which includes a figure illustrating the financial strategy and funding mechanisms for the plan.

Capex 2024-2026 $4.0 billion baseline with additional potential investments of $0.5B

AI summary The document outlines a baseline capital expenditure (Capex) plan of $4.0 billion for the period 2024-2026, with an additional $0.5 billion in potential investments.

Capex 2024-2026 $1.4 billion baseline with additional potential investments of $0.8B

AI summary The document outlines a baseline capital expenditure (Capex) of $1.4 billion for the period 2024-2026, with an additional $0.8 billion in potential investments.

Capex 2024-2026 $1.0 billion baseline with additional potential investments of $0.1B

AI summary The document outlines a baseline capital expenditure (Capex) plan of $1.0 billion for the years 2024-2026, with an additional $0.1 billion in potential investments.

Capex 2024-2026 $0.4 billion baseline

AI summary The document outlines a capital expenditure baseline of $0.4 billion for the period 2024-2026.

Capex 2024-2026 $0.2 billion baseline and additional potential investments of $0.3B

AI summary The document outlines a baseline capital expenditure (Capex) of $0.2 billion for the period 2024-2026, with an additional $0.3 billion in potential investments.

Capital Forecast by Affiliate 1 2024F1 2025F 2026F 2024–2026 Total US OPERATIONS Tampa Electric $ 1,275 $ 1,535 $ 1,235 $ 4,045 Peoples Gas 310 385 310 1,005 Seacoast 5 10 - 15 New Mexico Gas2 150 125 115 390 Emera Caribbean 80 80 80 240 U...

AI summary The document presents a capital forecast by affiliate for the years 2024 to 2026, detailing projected investments across various operations including US and Canadian divisions. The forecast includes figures in USD and CAD, along with exchange rate assumptions and additional potential investments.

1 In addition to capital spend 2 Announced agreement for sale of NMGC on August 5, 2024. Updated capital forecast to be provided in Emera's 2024 annual capital refresh

AI summary The text mentions an announced agreement for the sale of NMGC on August 5, 2024, and notes that an updated capital forecast will be provided in Emera's 2024 annual capital refresh.

2026-2027 GRA OP-12 Attachment 1 Page 296 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2024F 2025F 2026F 2024–2026 Total US OPERATIONS Tampa Electric $ 1,275 $ 1,535 $ 1,235 $ 4,045 Peoples Gas 310 385 310 1,005 Seacoast 5 10 - 15 Ne...

AI summary The document provides a capital forecast for US and Canadian operations from 2024 to 2026, including financial figures for various companies such as Tampa Electric, Peoples Gas, and Nova Scotia Power, along with assumptions about foreign exchange rates and additional potential investments.

Includes NMGC past expected close date 5-year capital plan to be provided at Emera's 2024 Investor Day

AI summary The text mentions that the NMGC's 5-year capital plan, which was previously expected to be closed, will be provided at Emera's 2024 Investor Day.

5-year capital plan to be provided at Emera's 2024 Investor Day 1 Average rate base; 2 USD/CAD exchange rate for 2022 updated to reflect forecasted rate; 3 Capital structures that support the rate base include deferred tax liabilities (DTL...

AI summary The text discusses the provision of a 5-year capital plan at Emera's 2024 Investor Day, including details on rate base calculations, capital structures, and deferred tax liabilities at various subsidiaries.

Visible Growth Plan - $8.8B baseline capital investment plan through 2026 1,6 - 7-8% forecasted rate base growth through 2029 6 - 5-7% three-year average target adjusted EPS 2 growth though 2027

AI summary The Visible Growth Plan outlines an $8.8B capital investment plan through 2026, with a forecasted 7-8% rate base growth through 2029 and a target of 5-7% three-year average adjusted EPS growth through 2027.

Delivering Meaningful Progress Towards Strengthening Balance Sheet Replaced Holdco debt with $500M USD of hybrid notes, treated as 50% equity Announced adjustment to Dividend Growth rate Closed $1.2B CAD Labrador Island Link transaction Fi...

AI summary The document outlines financial and capital strategies, including debt replacement with hybrid notes, dividend adjustments, and major transactions like the Labrador Island Link and NMGC sale. It also highlights capital spending plans and rate base growth projections.

Investing in Cleaner, More Reliable Energy 2024 – 2026 Forecasted Capital Spend 1,2,3,4 $8.8 B

AI summary The document outlines the 2024–2026 forecasted capital spend, which is estimated at $8.8 billion, indicating a significant investment in cleaner and more reliable energy infrastructure.

5-year capital plan to be provided at Emera's 2024 Investor Day 1 Average rate base; 2 USD/CAD exchange rate for 2022 updated to reflect forecasted rate; 3 Capital structures that support the rate base include deferred tax liabilities (DTL...

AI summary The document references a 5-year capital plan to be provided at Emera's 2024 Investor Day and includes details about capital structures, deferred tax liabilities, and rate base calculations for various entities, including Tampa Electric and Peoples Gas.

$1 billion investment across Emera in automation technology

AI summary The text mentions a $1 billion investment across Emera in automation technology. This highlights a significant financial commitment to technological advancement within the company.

TAMPA ELECTRIC OTHER - 10.5% ROE midpoint - 54% equity thickness - Operating & Capital Expenditures substantially approved - No stay out requirement

AI summary The document outlines a 10.5% return on equity midpoint, 54% equity thickness, substantial approval of operating and capital expenditures, and the absence of a stay out requirement for Tampa Electric.

Allocation of $20B 5-Year Capital Plan 55% of capital spend on transmission, distribution and gas infrastructure in support of reliability and customer growth 17% spend on renewable integration reducing volatile fuel cost exposure Capital...

AI summary The 5-year capital plan allocates 55% of the $20B to transmission, distribution, and gas infrastructure to support reliability and customer growth, with 17% dedicated to renewable integration to reduce volatile fuel cost exposure. The plan is customer-focused.

Emera's capital program Delivers exceptional value to customers Drives top-tier rate base growth1 Supports target adjusted EPS growth of 5%-7% through 2027 7%-8% Rate Base CAGR through 2029

AI summary Emera's capital program aims to deliver value to customers, drive rate base growth, and support earnings per share growth targets through 2027. The program is projected to achieve a 7%-8% compound annual growth rate in rate base through 2029.

2026-2027 GRA OP-12 Attachment 1 Page 418 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) In millions 2024F 2025F 2026F 2027F 2028F 2029F 2025–2029 Total US OPERATIONS Tampa Electric 1,350 1,670 1,750 1,850 2,040 2,180 9,490 Peoples Gas...

AI summary The table presents financial forecasts for US and Canadian operations from 2024 to 2029, including revenue projections for companies such as Tampa Electric, Peoples Gas, Emera Caribbean, and Nova Scotia Power, with a focus on capital expenditures and FX rate assumptions.

4 Includes net investment in capital leases; 2 Excludes fuel and storm cost deferrals included in rate base; 3 Reflects the capital asset values of the regulated pipeline investments;

AI summary The text includes notes on net investment in capital leases, excludes fuel and storm cost deferrals from rate base, and reflects the capital asset values of regulated pipeline investments.

2026-2027 GRA OP-12 Attachment 1 Page 420 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) In millions of USD 2024F 2025F Capital Forecast $120 $85 Rate Base Forecast $890 $970 Announced agreement for sale of NMGC on August 5, 2024. The...

AI summary The document outlines capital and rate base forecasts for 2024 and 2025, and mentions an announced agreement for the sale of NMGC, pending regulatory approvals and expected to close in late 2025.

5 High-Quality Regulated Utilities1 2.5 Million Customers2 $39 billion Total Assets2 $20 billion 5-year Capital Plan3 ~80% Capital Plan Focused in Florida 7-8% Rate Base CAGR Growth Through 2029 5-7% 1-2% 18 1 Excludes NMGC. Announced agre...

AI summary The document highlights a regulated utility with 2.5 million customers and $39 billion in total assets. It outlines a $20 billion 5-year capital plan, with 80% focused in Florida, and projects a 7-8% annual growth in rate base through 2029. The utility has announced the sale of NMGC on August 5, 2024.

Why Invest in Emera Emera is at the forefront of a transformative era in energy with robust opportunities to invest on behalf of customers across the portfolio. Our proven strategy and operational excellence ensure we can capitalize on thi...

AI summary Emera highlights its strong investment opportunities in energy, focusing on its regulated utilities in Florida. It emphasizes a proven strategy, operational excellence, and a 5-year capital plan aimed at driving rate base growth and reliable earnings and dividend growth.

Balanced Rate Case Outcome at Tampa Electric Enables Customer Focused Investment ROE midpoint of 10.5% with range of 9.5% - 11.5% No change to equity thickness of 54% No Stay Out period requirement Operating expenses and capital expenditur...

AI summary The rate case outcome at Tampa Electric sets a return on equity (ROE) midpoint of 10.5%, with no changes to equity thickness or a 'Stay Out' period. Operating expenses and capital expenditures were largely approved, with 72% of a combined 2-year request approved, leading to a total revenue increase of $281M USD.

Allocation of $20B 5-Year Capital Plan 55% of capital spend on transmission, distribution and gas infrastructure in support of reliability and customer growth 17% spend on renewable integration reducing volatile fuel cost exposure Capital...

AI summary The document outlines a 5-year, $20 billion capital plan with 55% allocated to transmission, distribution, and gas infrastructure to support reliability and customer growth, and 17% directed toward renewable integration to reduce volatile fuel cost exposure. The plan emphasizes a customer-focused approach.

Hybrid Capital $750M to $1 billion over the forecast period

AI summary The document outlines a capital investment range of $750 million to $1 billion over the forecast period, likely referring to a hybrid capital strategy.

Recent Regulatory Activity Filed in April 2024 for new rates effective January 1, 2025. The FPSC reached a final decision on December 3rd, 2024 approving new revenues of $281M ($185M in 2025, $87M in 2026 and $9M USD in 2027). This reflect...

AI summary In April 2024, new rates were filed for implementation on January 1, 2025. The FPSC approved new revenues of $281M, including $185M in 2025, $87M in 2026, and $9M USD in 2027. The ROE midpoint increased to 10.5%, and equity thickness remained at 54%. Tampa Electric's operating expenses and capital expenditures were approved without a stay out requirement.

Capex 2025–2029 $9.5 billion

AI summary The document indicates a capital expenditure (Capex) plan for the years 2025 to 2029 with a total budget of $9.5 billion.

Capex 2025-2029 $3.6 billion

AI summary The document outlines a capital expenditure (Capex) plan for the period 2025-2029, with a total budget of $3.6 billion.

Capex 2025-2029 $2.4 billion

AI summary The document outlines a capital expenditure plan for the period 2025-2029, with a total investment of $2.4 billion.

Capex 2025 $0.1 billion

AI summary The document indicates a capital expenditure (Capex) of $0.1 billion for the year 2025.

Capex 2025-2029 $0.6 billion

AI summary The document outlines a capital expenditure (Capex) plan for the period 2025-2029, with a total investment of $0.6 billion.

Capital Forecast In millions 2024F 2025F 2026F 2027F 2028F 2029F 2025–2029 Total US OPERATIONS Tampa Electric 1,350 1,670 1,750 1,850 2,040 2,180 9,490 Peoples Gas 320 360 430 510 560 500 2,360 Emera Caribbean 140 140 150 100 90 70 550 SUB...

AI summary The document provides a capital forecast for various operations in 2024 to 2029, including US and Canadian operations. It outlines projected capital expenditures for companies like Tampa Electric, Peoples Gas, Emera Caribbean, and Nova Scotia Power, with the total capital forecast for Canada reaching 20,430 million CAD over the period.

4 Includes net investment in capital leases; 2 Excludes fuel and storm cost deferrals included in rate base; 3 Reflects the capital asset values of the regulated pipeline investments;

AI summary The text includes notes on financial and capital-related matters, such as net investment in capital leases, exclusions of fuel and storm cost deferrals from rate base, and reflections of capital asset values for regulated pipeline investments.

New Mexico Gas Forecasts In millions of USD 2024F 2025F Capital Forecast $120 $85 Rate Base Forecast $890 $970 Announced agreement for sale of NMGC on August 5, 2024. The sale is pending regulatory and other approvals and is expected to cl...

AI summary The document outlines New Mexico Gas Company (NMGC) capital and rate base forecasts for 2024 and 2025, with a capital forecast of $120 million and $85 million, and a rate base forecast of $890 million and $970 million respectively. An agreement to sell NMGC was announced on August 5, 2024, pending regulatory approvals and expected to close in late 2025.

Strong Financial and Operational Performance in 2024 Emera's regulated utilities continue to be the fundamental growth driver. Contributions from regulated utilities increased 24% in Q4 2024 compared to Q4 2023. 2 Based on normalized credi...

AI summary Emera's regulated utilities showed strong financial growth in Q4 2024, with a 24% increase in contributions compared to Q4 2023. Strategic initiatives were successfully executed, including a constructive outcome at Tampa Electric and the completion of an asset sale program. Over $3.2 billion in capital investment was deployed.

Emera's capital program - Delivers exceptional value to customers - Drives top-tier rate base growth 3 - Supports target adjusted EPS growth of 5%-7% through 2027 80% Capital plan to be invested in Florida 2 Includes Corporate, Emera Newfo...

AI summary Emera's capital program focuses on delivering value to customers, driving rate base growth, and supporting earnings per share growth targets through strategic investments, with 80% of the plan directed toward Florida.

2025 Cash Flow Catalysts - $750M USD sale of NMGC - $185M USD new base rates at TEC - Lower corporate costs and other business growth

AI summary The 2025 Cash Flow Catalysts include a $750M USD sale of NMGC, $185M USD in new base rates at TEC, and reductions in corporate costs alongside business growth.

1 6 High-Quality Regulated Utilities 2.6 Million Customers2 $43 billion Total Assets2 $20 billion 5-year Capital Plan3 ~80% Capital Plan Focused in Florida 7%-8% Rate Base CAGR Growth Through 2029 5-7% Target Avg Annual Adj. EPS4 Growth Th...

AI summary The document outlines key financial and operational metrics for a regulated utility company, including a 5-year capital plan, customer base, total assets, and growth targets for earnings per share and dividends. It also mentions the sale of NMGC, which is included in the company's total assets.

Rate Case $281M USD total revenue increase 2 Increase in ROE midpoint to 10.5% from 10.2% and no change to equity thickness 99% of operating expenses and capital expenditures approved No stay out period required

AI summary The rate case includes a $281M USD total revenue increase, an increase in the ROE midpoint to 10.5%, approval of 99% of operating expenses and capital expenditures, and no stay out period required.

Emera's capital program Delivers exceptional value to customers Drives top-tier rate base growth 1 Supports target annual adjusted EPS 2 growth of 5%-7% through 2027 3 7%-8% Rate Base CAGR through 2029 1 Compared to Canadian Utility Peers...

AI summary Emera's capital program aims to deliver value to customers by driving rate base growth and supporting a target annual adjusted EPS growth of 5%-7% through 2027. The program projects a 7%-8% rate base compound annual growth rate through 2029.

Asset Sales Pending close of $750M USD NMGC transaction

AI summary The document mentions a pending asset sale of the NMGC transaction valued at $750M USD, indicating an ongoing process related to the sale of this asset.

Target sources of funding for $20B Capital Plan 2025-2029 Funding Plan

AI summary The document discusses the target sources of funding for a $20B Capital Plan over the 2025-2029 period, accompanied by visual representations such as figures and pictures that illustrate the funding plan.

Capex 2025 $0.1 billion

AI summary The document indicates a capital expenditure (Capex) of $0.1 billion for the year 2025.

2025-2027 Capital Plan (CAD billions 1 ) ~80% of capital plan focused in Florida to support 2% and 4% customer growth at TEC and PGS, respectively 55% of capital spend on transmission, distribution and gas infrastructure in support of reli...

AI summary The 2025-2027 Capital Plan allocates approximately 80% of funds to Florida for customer growth at TEC and PGS, with 55% of spending directed toward transmission, distribution, and gas infrastructure to ensure reliability and support growth, and 17% focused on renewable integration to mitigate volatile fuel costs.

Regulated utility debt is issued in accordance with regulated capital structures Equity raised to support investment through asset sales, ATM and DRIP, and hybrid bonds Corporate debt used to balance cash requirements while maintaining a r...

AI summary The document discusses regulated utility debt, emphasizing its issuance in accordance with regulated capital structures. Equity is raised through asset sales, ATM, DRIP, and hybrid bonds, while corporate debt is used to balance cash requirements, maintaining a holdco-to-total debt ratio below 35%.

2025 – 2027 Consolidated Funding Plan (in CAD billions) Capital Investment1 $11.1 Reinvested Cash Flow2 $4.1 Utility Debt Issuance $2.3 Corporate Debt Issuance $1.6 ATM and DRIP $1.4 Net Proceeds from NMGC $0.9 Thermal Asset Securitization...

AI summary The 2025–2027 Consolidated Funding Plan outlines various funding sources for capital investment, including reinvested cash flow, debt issuance, ATM and DRIP, and proceeds from NMGC, totaling CAD 11.1 billion.

$2.9B CAD of available liquidity 1 $4.9B CAD of cash and credit facilities across the portfolio Facilities are $2.0B drawn as of March 31, 2025

AI summary The document highlights a company's financial position, noting available liquidity of $2.9B CAD and total cash and credit facilities of $4.9B CAD, with $2.0B drawn as of March 31, 2025.

2025-2027 Capital Plan 1 (CAD billions) ~80% of capital plan focused in Florida to support 2% and 4% customer growth at TEC and PGS, respectively 55% of capital spend on transmission, distribution and gas infrastructure in support of relia...

AI summary The 2025-2027 Capital Plan focuses on infrastructure investment, with 55% allocated to transmission and distribution, and 17% to renewable integration. The plan supports customer growth in Florida and aims to reduce fuel cost volatility.

2025-2027 Capital Plan (CAD billions 1 ) ~80% of capital plan focused in Florida to support 2% and 4% customer growth at TEC and PGS, respectively 55% of capital spend on transmission, distribution and gas infrastructure in support of reli...

AI summary The 2025-2027 Capital Plan allocates ~80% of funds to Florida for customer growth at TEC and PGS, with 55% directed toward transmission, distribution, and gas infrastructure, and 17% toward renewable integration to reduce fuel cost volatility.

1 6 High-Quality Regulated Utilities 2.6 Million Customers2 $43 billion Total Assets2 $20 billion 5-year Capital Plan3 ~80% Capital Plan Focused in Florida 7-8% Rate Base CAGR Growth Through 2029 5-7% Target Avg Annual Adj. EPS4 Growth Thr...

AI summary The document outlines key financial and operational metrics for a regulated utility, including 2.6 million customers, $43 billion in total assets, and a $20 billion 5-year capital plan focused largely in Florida. The utility targets 5-7% average annual adjusted EPS growth and 1-2% annual dividend growth, with 18 years of consecutive dividend growth.

Capex 2025-2029 $2.4 billion

AI summary The document outlines a capital expenditure (CAPEX) plan for the period 2025-2029, with a total investment of $2.4 billion.

Capex 2025 $0.1 billion

AI summary The document outlines a capital expenditure (CAPEX) of $0.1 billion for the year 2025, indicating a planned investment in infrastructure or operations.

Capex 2025-2029 $0.6 billion

AI summary The document indicates a capital expenditure (CAPEX) projection of $0.6 billion for the period 2025-2029.

Capital Forecast In millions 2025F 2026F 2027F 2028F 2029F 2025–2029 Total US OPERATIONS Tampa Electric $1,670 1,750 1,850 2,040 2,180 9,490 Peoples Gas $360 430 510 560 500 2,360 Emera Caribbean $140 150 100 90 70 550 SUBTOTAL: US OPERATI...

AI summary The document presents a capital forecast table showing projected capital expenditures for US and Canadian operations from 2025 to 2029, including entities like Tampa Electric, Peoples Gas, Emera Caribbean, and Nova Scotia Power, with total capital forecasts increasing over the forecast period.

1 Capital structures that support the rate base include zero cost-of-capital components in Florida. 2024 capital structures included DTLs and other items of approx. US$1,600 million at Tampa Electric and approx. US$300 million at Peoples G...

AI summary The text discusses capital structures supporting the rate base in Florida, including details on deferred costs and exchange rates for 2024. It mentions specific figures for Tampa Electric and Peoples Gas, as well as net investment in capital leases and exchange rate updates.

New Mexico Gas Forecasts In millions of USD 2024A 2025F Capital Forecast $130 $85 Rate Base Forecast $835 $970 Announced agreement for sale of NMGC on August 5, 2024. The sale is pending regulatory and other approvals and is expected to cl...

AI summary The document outlines capital and rate base forecasts for New Mexico Gas Company (NMGC) for 2024 and 2025, along with an announced agreement for the sale of NMGC, pending regulatory approvals and expected to close in late 2025.

Rate Case - $281M USD total revenue increase1 - Increase in ROE midpoint to 10.5% from 10.2% and no change to equity thickness - 99% of operating expenses and capital expenditures approved - No stay out period required

AI summary The Rate Case involves a $281M USD revenue increase, an increase in the ROE midpoint to 10.5%, approval of 99% of operating expenses and capital expenditures, and no stay out period required.

5-Year Capital Plan is the Largest in Emera's History 1. USD capital spend translated at $1.35 2. Includes Corporate, Emera Newfoundland and Emera Caribbean

AI summary Emera's 5-Year Capital Plan is highlighted as the largest in the company's history, with USD capital spend translated at $1.35. The plan includes contributions from Corporate, Emera Newfoundland, and Emera Caribbean.

Capital Plan Drives Rate Base Growth, Earnings Growth

AI summary The document discusses how a capital plan contributes to rate base growth and earnings growth, illustrated by a figure referenced in the text.

Capital Plan Focused on Delivering Value for Customers 55% of capital spend on transmission, distribution and gas infrastructure in support of reliability and customer growth 17% spend on renewable integration reducing volatile fuel cost e...

AI summary The capital plan emphasizes delivering value to customers by allocating 55% of capital spend to transmission, distribution, and gas infrastructure to support reliability and customer growth, and 17% to renewable integration to reduce volatile fuel cost exposure.

Recent Regulatory Activity The FPSC reached a final decision in December 2024 approving new revenues of $281M ($185M in 2025, $87M in 2026 and $9M in 2027). This reflects a 10.5% ROE midpoint (up from 10.2%) and a 54% equity thickness (unc...

AI summary The FPSC approved new revenues of $281M for Tampa Electric, with a 10.5% ROE midpoint and 54% equity thickness. Operating expenses and capital expenditures were substantially approved, and there is no stay out requirement.

Capex 2025–2029 $9.5 billion

AI summary The document outlines a capital expenditure (Capex) plan for the years 2025 to 2029, with a total budget of $9.5 billion.

Capex 2025–2029 $3.6 billion

AI summary The document outlines a capital expenditure (CAPEX) plan for the period 2025–2029, with a total estimated cost of $3.6 billion.

Capex 2025–2029 $2.4 billion

AI summary The document outlines a capital expenditure (CAPEX) plan for the period 2025–2029, with a total investment of $2.4 billion.

Capex 2025 $0.1 billion

AI summary The document mentions a capital expenditure (Capex) of $0.1 billion for the year 2025.

Capex 2025–2029 $0.6 billion

AI summary The document indicates a capital expenditure (Capex) plan of $0.6 billion over the period 2025–2029.

New Mexico Gas Forecast In millions of USD 2024A 2025F Capital Forecast $130 $85 Rate Base Forecast $835 $970 Announced agreement for sale of NMGC on August 5, 2024. The sale is pending regulatory and other approvals and is expected to clo...

AI summary The document provides a forecast of capital and rate base for New Mexico Gas Company (NMGC) in 2024 and 2025, along with an announced agreement for the sale of NMGC pending regulatory approvals and expected to close in early 2026.

Financial Performance - Growing cash flow profile supported by strong customer growth and tax benefits in support of energy storage investments - Adjusted cash flow to debt of 10%+ and EBIT coverage ratio of 1.6x+ throughout 2023-2025 fore...

AI summary The financial performance section highlights strong cash flow supported by customer growth and tax benefits for energy storage investments. It includes a forecast of adjusted cash flow to debt of 10%+ and EBIT coverage of 1.6x+ through 2025, with a 1.8% base rate increase starting in 2023, while noting regulatory constraints on capital structure.

Update on Progress in 2023 Last year we highlighted Management's planned actions and next steps for 2023. We have executed against this plan and have and have improved and stabilized both the business and financial risk profiles of NSPI: -...

AI summary NSPI has stabilized its business and financial risk profiles in 2023 by receiving UARB approval for the GRA settlement, aligning with the Province on decarbonization mandates, securing government funding for prior period fuel costs, and focusing capital investments on reliability.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA OP-12 Attachment 2 Page 9 of 28 Decarbonization & Capital Program Update

AI summary The document contains a redacted section of an attachment related to a 2026-2027 GRA OP-12, focusing on a Decarbonization & Capital Program Update. Images are included but the content is not visible due to redaction.

Investment in the Transmission & Distribution ("T&D")System - •Investment in the T&D system in 2022 was $263M 1 - • In support of customer growth and improved reliability, the average investment in the T&D system has increased by 62% to $1...

AI summary Nova Scotia Power invested $263M in the T&D system in 2022. Since 2015, annual T&D investment has increased by 62% to $190M. Tree trimming spending has risen from $20M to $40M annually over the next five years, with $30M classified as capital investment and $10M as operating expense.

Update on Progress in 2024 Last year we highlighted Management's planned actions and next steps for 2024. We have executed against this plan and have improved and stabilized both the business and financial risk profile of Nova Scotia Power...

AI summary Nova Scotia Power has made progress in 2024 by negotiating federal and provincial funding for prior period fuel costs, securing a loan guarantee increase, and receiving approvals for capital investments and a storm rider. They are also working on the 2030 Clean Power Plan and preparing for a General Rate Application expected to take effect in 2026.

Investment in the Transmission & Distribution ("T&D") System - Capital investment in the T&D system in 2023 was $222 million, with forecast investment of $238 million in 2024 . - Nova Scotia Power's five-year capital plan forecasts annual...

AI summary The document outlines Nova Scotia Power's investment in the Transmission & Distribution system, highlighting capital investments in 2023 and projected increases through 2029, including significant investments in vegetation clearing to ensure reliability and customer growth.

VISIBLE GROWTH PLAN $20B capital investment plan through 2029, focused on grid reliability, resiliency & modernization, system expansion to meet customer growth, renewable integration, technology and customer-facing solutions 7% to 8% annu...

AI summary The VISIBLE GROWTH PLAN outlines a $20 billion capital investment strategy through 2029, emphasizing grid reliability, resiliency, modernization, system expansion, renewable integration, technology, and customer-facing solutions. The plan forecasts an annualized rate-base growth of 7% to 8%.

Mr. Tilk's track record of growing companies and leading multi-billion-dollar capital expenditure programs makes him an important contributor to Emera's Board. 2024 Board and Committee membership Attendance Total • Board 9 of 9 100% Risk a...

AI summary The document highlights Mr. Tilk's extensive experience in growing companies and managing large capital expenditure programs, emphasizing his value to Emera's Board. It outlines his 2024 board and committee attendance, total compensation, and share-based awards, including DSUs, and references Emera's Director Share Ownership Guideline.

Nova Scotia Power Inc. Continuity Schedules for 2024A, 2024C, 2025, 2026, 2027 (Numbers in $ thousands) RATE BASE TABLE 1- Continuity of Property, Plant and Equipment 1 2 3 2024A Function Beginning Balance Gross Plant - 2024A Additions - 2...

AI summary The document presents Nova Scotia Power Inc.'s continuity schedules for 2024A, 2024C, 2025, 2026, and 2027, detailing changes in property, plant, and equipment, including additions, retirements, securitization proceeds, and depreciation adjustments.

TABLE 1- Continuity of Property, Plant and Equipment (Numbers in $ thousands) 64 Function Beginning Balance Gross Plant - 2026 Additions - 2026 Retirements - 2026 Securitization Proceeds Transfers to Regulatory Assets Transfers to/ from No...

AI summary This table outlines the continuity of property, plant, and equipment for various categories such as generation, transmission, and distribution in 2026, including beginning balances, additions, retirements, and ending balances, along with depreciation and other financial details.

$2,649.14 $2,548.46 $1,902.83 $1,157.71 $1,482.92 $9,328.41 $41,417.74 $4,063.94 $3,699.54 $3,323.69 $4,137.84 $1,513.88 $1,792.47 - share of General Property Plant $29,706,510 $1,991,234 $6,020,338 $4,495,138 $5,221,195 $5,891,686 $2,003,...

AI summary The text presents a series of numerical values, likely representing financial figures related to unmetered service rates for miscellaneous lighting and small loads. These figures are associated with categories such as General Property Plant, Deferred Charges, and Net Present Value (NPV), suggesting a financial or accounting context.

2026-2027 General Rate Application (M12451) NSPI Responses to Bates White Information Requests 1 covered in the recent arbitration with Nordex. These repairs are scheduled to be completed 21 process for establishing the FAM riders to colle...

AI summary The document outlines NSPI's responses to Bates White Information Requests related to the 2026-2027 General Rate Application. It discusses the Fuel Adjustment Mechanism (FAM) and its riders, including the collection of prior period balances and their impact on revenue requirements and corporate financing.

Our Base-Case Scenario Assumptions Key Metrics • Stable economic conditions in the service territory, with a modest increase in the customer base • Continued use of regulatory cost recovery mechanisms. The utility will not experience any a...

AI summary The base-case scenario assumes stable economic conditions, continued use of regulatory cost recovery mechanisms, and stable capital structure for NSPI. Key metrics include FFO/total debt and debt/debt and equity ratios over several years.

Principal Liquidity Sources Principal Liquidity Uses • FFO of C$350 million-C$400 million over the next 12 months • Available credit facility of about C$342 million over the next 12 months • Capital spending of C$350-C$400 million over the...

AI summary The document outlines Nova Scotia Power's principal liquidity sources, including FFO and credit facilities, and liquidity uses such as capital spending, dividends, and working capital outflows. It also mentions other credit considerations.

Our Base-Case Scenario Assumptions Key Metrics • No material persistent impact from the COVID-19 pandemic; • Stable regulatory regime in Nova Scotia with no material adverse regulatory decisions; 2019a 2020e 2021f FFO to debt (%) 13.4 13-1...

AI summary The base-case scenario assumes no material impact from the pandemic, stable regulation in Nova Scotia, and a 1.5% annual base rate increase from 2020 to 2022. Capital spending and dividend payments are estimated at around C$350 million and C$175 million annually, with commodity costs passed through to customers.

Table 2 Nova Scotia Power Inc Financial Summary Industry Sector: Electric Fiscal year ended Dec. 31 2019 2018 2017 2016 2015 (Mil. C$) Revenue 1,430.0 1,440.0 1,338.0 1,356.0 1,417.3 EBITDA 513.0 549.8 554.2 510.3 549.0 Funds from operatio...

AI summary Table 2 presents a financial summary of Nova Scotia Power Inc. over the fiscal years 2015 to 2019, highlighting key financial metrics such as revenue, EBITDA, funds from operations, and debt. The summary indicates that liquidity is deemed adequate.

Capital structure As of Dec. 31, 2019, NSPI's capital structure consists of about C$2.1 billion of senior unsecured debt and about C$310 million of short-term debt, including outstanding commercial paper.

AI summary As of December 31, 2019, Nova Scotia Power Inc. (NSPI) had a capital structure consisting of approximately C$2.1 billion in senior unsecured debt and about C$310 million in short-term debt, including outstanding commercial paper.

Fiscal year ended Dec. 31, 2019 Nova Scotia Power Inc. reported amounts Debt EBITDA Operating income Interest expense S&P Global Ratings' adjusted EBITDA Cash flow from operations Capital expenditure 2,666.0 503.0 272.0 143.0 513.0 172.0 3...

AI summary The document presents financial data for Nova Scotia Power Inc. for the fiscal year ended December 31, 2019, including debt, EBITDA, operating income, interest expense, and capital expenditures. It also includes adjustments made by S&P Global Ratings, such as cash taxes paid, operating leases, and asset retirement obligations.

Financial Risk: Significant We assess NSPI's financial risk profile using our medial volatility financial benchmark tables rather than the financial benchmarks we use for a typical corporate issuer, which reflects the company's lower-risk...

AI summary NSPI's financial risk is significant due to lower-than-expected FFO to debt in 2020, driven by a warmer winter and pandemic impacts. The fuel stability plan and large capital program are expected to pressure credit metrics through 2022. A new base rate filing is anticipated in 2023.

Table 3 Nova Scotia Power Inc Financial Summary Industry sector: electric Fiscal year ended Dec. 31 2020 2019 2018 2017 2016 (Mil. C$) Revenue 1,494.0 1,430.0 1,440.0 1,338.0 1,356.0 EBITDA 529.0 513.0 549.8 554.2 510.3 FFO 380.2 381.4 408...

AI summary Table 3 presents a financial summary of Nova Scotia Power Inc. over the years 2016 to 2020, including revenue, EBITDA, FFO, interest expenses, capital expenditures, and various financial ratios. The data shows trends in financial performance and debt levels.

Nova Scotia Power Inc. reported amounts (mil. C$) Debt EBITDA Operating income Interest expense S&P Global Ratings' adjusted EBITDA Cash flow from operations Capital expenditure 2,942.0 517.0 275.0 140.0 529.0 325.0 319.0 S&P Global Rating...

AI summary The document presents financial data for Nova Scotia Power Inc., including debt, EBITDA, operating income, and capital expenditures. Adjustments by S&P Global Ratings are outlined, affecting cash flow and other financial metrics. The section concludes with a statement of adequate liquidity.

Principal liquidity sources Principal liquidity uses • • Credit facility availability of about C$590 million as Debt maturities of C$290 million, including of Dec. 31, 2020; and outstanding commercial paper; and • • Cash FFO of about C$315...

AI summary The document outlines the principal liquidity sources and uses for the period ending Dec. 31, 2020, highlighting credit facility availability and cash FFO, alongside liquidity uses such as debt maturities and capital spending.

Capital structure As of Dec. 31, 2020, NSPI's capital structure consisted of about C$2.67 billion of senior unsecured debt and about C$290 million of outstanding commercial paper.

AI summary As of December 31, 2020, NSPI's capital structure included approximately C$2.67 billion in senior unsecured debt and C$290 million in outstanding commercial paper.

Overview Key strengths Key risks Low-risk, vertically integrated regulated electric utility with no exposure to nonutility operations. Energy transition risks through its operations in electric generation, which are primarily coal, natural...

AI summary The overview discusses Nova Scotia Power Inc. (NSPI) as a low-risk, vertically integrated utility with a credit-supportive regulatory framework, but highlights energy transition risks due to reliance on fossil fuels. It expects NSPI to maintain financial performance with modest sales growth and capital spending of about $510 million over 2022-2024.

Financial Risk We assess NSPI's financial risk profile using our medial volatility financial benchmark tables rather than the financial benchmarks we use for a typical corporate issuer, which reflects the company's lower-risk regulated uti...

AI summary The document assesses NSPI's financial risk profile, noting its lower-risk regulated utility operations and effective management of regulatory risk. It highlights a proposed rate application with average base rate increases and the use of a Fuel Adjustment Mechanism. NSPI's large capital program and reliance on external financing are also discussed, along with projected FFO to debt ratios.

Reconciliation Of Nova Scotia Power Inc. Reported Amounts With S&P Global Adjusted Amounts (Mil. C$) Shareholder Operating Interest S&PGR adjusted Operating Capital Debt Equity Revenue EBITDA income expense EBITDA cash flow Dividends expen...

AI summary This section reconciles Nova Scotia Power Inc.'s reported financial figures with those adjusted by S&P Global Ratings, highlighting differences in debt, equity, operating income, and capital expenditures. Adjustments include items like cash taxes, lease liabilities, and asset-retirement obligations, resulting in a total adjustment of 146 million C$.

Principal liquidity sources - Total credit facility availability of about C$600 million as of Dec. 31, 2021; and - Cash FFO of about C$380 million.

AI summary The principal liquidity sources for the entity include a total credit facility availability of approximately C$600 million as of December 31, 2021, and cash FFO of about C$380 million.

Principal liquidity uses - No debt maturities within the next 12 months; - C$377 million of drawn outstanding commercial paper; and - Maintenance capital spending of about C$420 million over the next 12 months.

AI summary The principal liquidity uses include C$377 million in drawn outstanding commercial paper and approximately C$420 million in maintenance capital spending over the next 12 months, with no debt maturities expected within that period.

Capital structure As of Dec. 31, 2021, NSPI's capital structure consisted of about C$3.04 billion of senior unsecured debt.

AI summary As of December 31, 2021, Nova Scotia Power Inc.'s capital structure was composed of approximately C$3.04 billion in senior unsecured debt.

Principal liquidity uses: - Assumed maintenance capital spending of about C$375 million; - Debt maturities, including outstanding commercial paper, of about C$108 million; and - Dividend payments of about C$80 million.

AI summary The principal liquidity uses include maintenance capital spending of approximately C$375 million, debt maturities of about C$108 million, and dividend payments of roughly C$80 million.

Capital structure - As of Sept. 30, 2022, NSPI's capital structure comprised about C$3.15 billion of senior unsecured debt.

AI summary As of September 30, 2022, Nova Scotia Power Inc. had a capital structure consisting of approximately C$3.15 billion in senior unsecured debt.

2026-2027 GRA Cleary IR-1 Attachment 7 Page 2 of 5 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Inc. NSPI was fined $10 million for failing to remain compliant under the Renewable Electricity Regulations (RER). Under the p...

AI summary Nova Scotia Power Inc. (NSPI) was fined $10 million for non-compliance with the Renewable Electricity Regulations (RER), citing uncontrollable factors like delays in the Muskrat Falls project. NSPI is appealing the penalty with the UARB. The RER also mandates 80% renewable electricity by 2030, requiring significant investments, including new transmission lines and grid-scale batteries. The company is seeking to recover prudently incurred costs amid inflation and high interest rates.

Nova Scotia Power Inc. Financial Summary Period ending Dec-31-2018 Dec-31-2019 Dec-31-2020 Dec-31-2021 Dec-31-2022 Dec-31-2023 Reporting period 2018a 2019a 2020a 2021a 2022a 2023a Display currency (mil.) C$ C$ C$ C$ C$ C$ Revenues 1,440 1,...

AI summary This financial summary presents Nova Scotia Power Inc.'s financial metrics from 2018 to 2023, including revenues, EBITDA, FFO, capital expenditures, and debt levels. The data highlights trends in financial performance, including fluctuations in operating cash flow and increasing debt.

Rating Update (CONTINUED) mechanism. Fuel costs are also subject to an independent audit by the NSUARB that could potentially disallow a portion of the fuel-related costs. The Company's BRA also reflects the challenges associated with NSPI...

AI summary The rating update discusses NSPI's challenges with high electricity rates, potential cost recovery issues, and compliance with federal coal phase-out plans. It also notes that operating cash flow supports capex and that NSPI will manage dividends to maintain its debt-to-capital ratio within regulatory limits.

3. Limited access to equity markets NSPI has limited access to common equity markets to fund any free cash flow deficits. As such, DBRS expects Emera to continue to support NSPI's capex program with its flexible dividends policy and equity...

AI summary NSPI has limited access to common equity markets for funding free cash flow deficits, prompting DBRS to expect continued support from Emera through flexible dividends and equity injections.

Financial Profile 9 mos. September 30 12 mos. September 30 For the year ended December 31 (CAD millions) 2017 2016 2017 2016 2015 2014 2013 Net income before non-recurring items 106 96 140 130 139 133 134 Depreciation & amortization 160 15...

AI summary The financial profile presents key financial metrics for the period, including net income, depreciation, cash flow, capital expenditures, free cash flow, and total debt. It highlights trends in financial performance and capital structure over several years.

Summary - NSPI's key credit metrics remained reasonable for the current rating. - Operating cash flow saw a modest increase in 9M 2017 versus 9M 2016, as the Company benefited from higher earnings. - NSPI's capex during 9M 2017 was higher...

AI summary NSPI's credit metrics remained reasonable, with increased operating cash flow and higher capex in 9M 2017 due to IT and transmission projects. The company manages its dividend payout to maintain its regulatory capital structure and debt-to-capital ratio within the current rating range.

Outlook - DBRS expects the Company's key credit metrics to continue to support the current rating in the foreseeable future. - Cash flow from operations for YE2018 is expected to reduce as a result of the change in the FAM balance but suff...

AI summary DBRS anticipates that NSPI's credit metrics will maintain the current rating. Cash flow from operations is expected to decrease due to changes in the FAM balance, but will still support Capex. NSPI is in a tax dispute with the CRA, which could affect cash flow if unresolved. Emera is expected to support NSPI financially if needed.

Regulation - NSPI operates under a reasonable regulatory environment of the NSUARB, using a COS methodology that allows the Company to recover all prudently estimated operating expenses and earn a reasonable return on the approved capital...

AI summary NSPI operates under the NSUARB's regulation, using a COS methodology to recover operating expenses and earn a reasonable return on capital investments. The company's target ROE range is between 8.75% and 9.25%, and its 2017 rates are based on a 9.0% ROE. NSPI files an annual ACE plan with the NSUARB, and the Province's Electricity Reform (2013) Act allows licensed renewable generators to sell directly to retail customers, though DBRS does not expect significant competition from new entrants.

Regulatory Environment Assessment Criteria 1. Deemed Equity Ratio Score Excellent Good Satisfactory Below Average Poor Analysis NSPI's target regulated ROE is based on an actual five-quarter average regulated common equity component of up...

AI summary The document evaluates NSPI's regulatory environment, noting its target regulated ROE based on a 37.5% common equity ratio. Capital costs over $250,000 are pre-approved by the regulator, with AFUDC recovery during construction. NSPI operates under a COS model, allowing recovery of operating expenses and return on approved capital investments.

3. Limited access to equity markets NSPI has limited access to common equity markets to fund any free cash flow deficits. As such, DBRS expects Emera to continue to support NSPI's capex program with its flexible dividends policy and equity...

AI summary NSPI has limited access to common equity markets for funding free cash flow deficits, prompting DBRS to expect continued support from Emera through flexible dividends and equity injections.

Financial Information 12 mos. ended September 30 For the year ended December 31 2020 2019 2018 2017 2016 2015 Cash flow/Total debt (%)1 13.9 14.4 14.8 14.3 14.5 13.0 Total debt in capital structure (%)1, 2 62.9 62.4 65.4 64.9 62.7 63.6 EBI...

AI summary The financial information table presents key metrics for the 12 months ended September 30 and the year ended December 31 for various years, including cash flow to total debt, total debt in the capital structure, and EBIT gross interest coverage, adjusted for operating leases.

3. Limited access to equity markets NSPI has limited access to common equity markets to fund any free cash flow deficits. As such, DBRS Morningstar expects Emera to continue to support the Company's capital expenditure (capex) program with...

AI summary NSPI faces limited access to common equity markets for funding free cash flow deficits. DBRS Morningstar anticipates that Emera will support NSPI's capital expenditure program through flexible dividends and equity injections when necessary.

Financial Profile 12 mos. ended September 30 For the year ended December 31 (CAD millions where applicable) 2020 2019 2018 2017 2016 2015 Net income before nonrecurring items 124 138 131 129 130 139 Depreciation & amortization 241 238 225...

AI summary The financial profile outlines key financial metrics for the period ending September 30, 2020, including net income, depreciation, capital expenditures, and cash flow. It also provides insights into free cash flow, debt levels, and financial ratios such as cash flow to total debt and interest coverage.

2019 Summary - NSPI's key credit metrics have been in line with the A (low) rating. - The Company's cash flow-to-debt and EBIT-interest coverage both weakened modestly in 2019 because of the lower earnings and higher debt load for the year...

AI summary In 2019, NSPI's credit metrics remained at an A (low) rating. Although cash flow-to-debt and EBIT-interest coverage weakened slightly due to lower earnings and higher debt, debt-to-capital decreased following a $119 million common stock issuance to Emera. NSPI managed its dividend payout within regulatory capital structure limits and funded its capex deficit through stock and commercial paper issuances.

2020 Summary/Outlook • DBRS Morningstar expects NSPI's key credit metrics to remain stable over the medium term. 2 Adjusted for operating leases. 3 Adjusted for accumulated other comprehensive income. - The Company has forecast capex to be...

AI summary DBRS Morningstar anticipates stable credit metrics for NSPI over the medium term. NSPI forecasts $310 million in capex for 2020, reduced due to pandemic measures. NSPI is in a tax dispute with the CRA, having prepaid $22.7 million of a $62.3 million dispute. Emera is expected to support NSPI through dividends and equity injections.

- As at September 30, 2020, NSPI had a Credit Facility of $600 million, $596 million of which was available. The Credit Facility matures in October 2024. - The Credit Facility is used to backstop the Company's $500 million CP program and t...

AI summary As of September 30, 2020, NSPI had a $600 million Credit Facility with $596 million available, set to mature in October 2024. The facility supports the company’s $500 million CP program, working capital, and capex needs. Availability is reduced by CP issuance, and NSPI complies with a 70.0% debt-to-capital ratio covenant.

Assessment of Regulatory Framework Criteria Score Analysis 4. Capital and Operating Cost Recovery Excellent Good Satisfactory Below Average Poor Capital costs over $1,000,000 are generally pre-approved by the regulator, but there is some m...

AI summary The document assesses the regulatory framework for NSPI, noting that capital costs above $1,000,000 are pre-approved by the regulator, with AFUDC included in recovery. NSPI operates under a COS model, allowing recovery of operating expenses and return on capital investments. The 2013 Electricity Reform Act and Electricity Plan Act have had a modest impact on NSPI.

r rating at R-1 (low). All trends are Stable. The confirmations reflect the stability of the Company's regulated electricity operations and key credit metrics that are in line with the current rating. NSPI's business risk assessment was st...

AI summary NSPI maintains a stable credit rating due to its reasonable regulatory framework and ability to recover prudent expenditures. However, challenges such as transitioning from coal-based generation and meeting renewable energy targets may impact its credit metrics if not managed prudently.

(3) Limited access to equity markets NSPI has limited access to common equity markets to fund any free cash flow deficits. As such, DBRS Morningstar expects Emera to continue to support the Company's capex program with a flexible dividends...

AI summary NSPI has limited access to common equity markets for funding free cash flow deficits, prompting DBRS Morningstar to expect continued support from Emera through flexible dividends and potential equity injections.

2020 Summary - NSPI's key credit metrics weakened in 2020 but remained in line with the A (low) rating. - The Company's cash flow-to-debt and debt-to-capital both weakened in 2020 because of the lower cash flows and higher debt load for th...

AI summary In 2020, NSPI's credit metrics weakened due to lower cash flows and higher debt, though it remained in line with its A (low) rating. The company experienced a net free cash flow deficit, funded by a $300 million notes issuance, while maintaining its debt-to-capital ratio within regulatory limits.

2021 Summary/Outlook - DBRS Morningstar expects NSPI's key credit metrics to remain stable over the medium term. - The Company's cash flow-to-debt and debt-to-capital ratios both recovered to more historical levels because of the higher ca...

AI summary DBRS Morningstar anticipates stable credit metrics for NSPI over the medium term, with improved cash flow ratios. NSPI forecasts $415 million in capex for 2021 and is in a tax dispute with CRA, having prepaid $22.7 million. Emera is expected to support NSPI with dividends and equity injections to maintain leverage within regulatory limits.

- As at September 30, 2021, NSPI had a Credit Facility of $600 million, $402 million of which was available. The Credit Facility matures in October 2024. - The Credit Facility is used to backstop the Company's $500 million CP program and t...

AI summary NSPI has a Credit Facility of $600 million, with $402 million available as of September 30, 2021, used to backstop its $500 million CP program and fund working capital and capex. The facility matures in October 2024 and is subject to a debt-to-capital ratio covenant of 70.0%, which NSPI has been compliant with.

Page 9 of 14 Assessment of Regulatory Framework 3. Energy Cost Recovery Excellent Good Satisfactory Below Average Poor Fuel costs are passed through to the customers through the FAM, and rates change annually to account for variances betwe...

AI summary The document discusses the regulatory framework for energy cost recovery, capital and operating cost recovery, the COS versus incentive rate mechanism, and political interference. Fuel costs are recovered through the FAM, with variances deferred to a FAM regulatory asset or liability. Capital costs are recovered through rates after regulatory approval, and NSPI operates under a COS model. The Electricity Reform Act and Electricity Plan Act have had a modest impact on NSPI.

4. Limited access to equity markets NSPI has limited access to common equity markets to fund any free cash flow deficits. As such, DBRS Morningstar expects Emera to continue to support the Company's capex program with a flexible dividends...

AI summary NSPI has limited access to common equity markets for funding free cash flow deficits, prompting DBRS Morningstar to expect continued support from Emera through flexible dividends and equity injections.

2021 Summary - NSPI's key credit metrics were in line with the A (low) rating in 2021. - The Company's cash flow-to-debt ratio improved modestly because of the stronger cash flows for the year. 2 Adjusted for operating leases. 3 Adjusted f...

AI summary In 2021, NSPI maintained key credit metrics aligned with its A (low) rating. Cash flow-to-debt ratios improved slightly due to stronger cash flows, but the company faced a net free cash flow deficit from its capital expenditures, which were funded by commercial paper. NSPI managed its dividend payout to remain within its regulatory capital structure of $80 million.

2022 Summary/Outlook - DBRS Morningstar expects NSPI's key credit metrics to weaken in the near term because base rate increases are capped at 1.8% over 2022 to 2024. - The Company has forecast capex to be at around $525 million for 2022....

AI summary DBRS Morningstar anticipates NSPI's credit metrics will weaken due to capped base rate increases. NSPI has reduced capex to focus on reliability and safety, forecasting around $350 million in 2022. A dispute with the CRA over tax deductions for 2006-2010 could affect operating cash flow. Emera is expected to support NSPI with dividends and equity injections.

Environmental Carbon and GHG costs had a relevant effect on the credit analysis of NSPI. DBRS Morningstar considers the Company's transition from reliance on coal-based generation (51% of 2021 installed generation capacity) to lower-emitti...

AI summary The transition of NSPI from coal-based generation to lower-emitting sources impacts credit analysis, with DBRS Morningstar highlighting challenges due to the need for significant investments and financial constraints from political intervention in the 2022 to 2024 GRA.

encouraged that the NSUARB approval of the negotiated settlement did not face further political interference from the Province, but considers regulatory interference to still be a heightened concern. Morningstar DBRS notes that in October...

AI summary DBRS Morningstar acknowledges the NSUARB's approval of a negotiated settlement but remains concerned about potential regulatory interference. The Province's 2030 Clean Power Plan includes investments in renewable energy and grid infrastructure, but achieving targets may require significant capital expenditures and government funding support.

under an ambitious time frame. Morningstar DBRS will continue to monitor the Company's progress, especially with the release of a Clean Electricity Solutions Task Force report expected early in 2024. Morningstar DBRS had noted in its most...

AI summary DBRS Morningstar has updated its credit rating for NSPI, noting that the company's earnings and credit metrics were affected by the rate cap under Bill 212. Despite this, the current rating remains supportive, and NSPI is expected to manage capex and dividends prudently. Emera Inc. has supported NSPI through equity injections and a flexible dividend policy.

2022 Summary - NSPI's key credit metrics weakened as expected in 2022 as base-rate increases were capped at 1.8% over 2022 to 2024, and the timing of the dividend payment. - Overall, the Company's key credit metrics are now supportive of t...

AI summary In 2022, NSPI's credit metrics weakened due to capped base-rate increases and dividend timing, though they remain supportive of a BBB rating. Cash flow from operations declined due to lower net income, and the company maintained its dividend within regulatory limits. Gross capex rose to $540 million for reliability and customer growth, funded through CP issuances and credit facilities.

2023 Summary/Outlook - Morningstar DBRS expects NSPI's key credit metrics to be stronger in 2023 because of the higher earnings and the equity injection from its parent. - While the Company's metrics are expected to be weaker than in previ...

AI summary In 2023, Morningstar DBRS anticipates stronger credit metrics for NSPI due to higher earnings and equity injections from its parent, Emera. Capex is expected to be around $440 million, reduced due to Bill 212, which limits base rate increases to reliability improvements. An equity injection of $125 million was received by September 30, 2023.

Financial Outlook NSPI's key credit metrics strengthened in the last 12 months ended September 30, 2024 (LTM 2024), because of the stronger earnings and cash flows, and the reduction in debt following the sale of the $117 million balance i...

AI summary NSPI's credit metrics improved in LTM 2024 due to stronger earnings, cash flows, and reduced debt from the FAM sale. The company expects further improvement in 2024 from a $500 million transfer from NSPML. NSPI has a large capex program, but it plans to finance it prudently to maintain its BBB credit rating. Emera Inc. has supported NSPI through flexible dividends and equity injections.

2. Limited access to equity markets NSPI has limited access to common equity markets to fund any free cash flow deficits. As such, we expect Emera to continue to support the Company's capex program with a flexible dividends policy and equi...

AI summary NSPI has limited access to common equity markets for funding free cash flow deficits, and Emera is expected to support the company's capital expenditures through dividends and equity injections.

Appendix 2—Regulation - NSPI operates under the NSUARB's regulatory environment using a COS methodology that allows the Company to recover all prudently estimated operating expenses and earn a reasonable return on approved capital investme...

AI summary NSPI operates under the NSUARB's regulatory framework with a target ROE range of 8.75% to 9.25%. In 2022, the Province amended the Public Utilities Act to cap base-rate increases and ROE. NSUARB approved a negotiated settlement for the GRA in 2023, including rate increases and a Storm Rider. NSPI also manages the FAM and submitted a 2024 ACE plan for approval.

2026-2027 GRA Cleary IR-4 Attachment 1 Page 24 of 32 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Avera ige % Chan ge on Previ ous ( Calend ar Yea ır Annua al Tota al Rates on S Survey y Date Comparison Forecasts IMF (Apr. '24) 1.3 1.4 1.5...

AI summary This table presents economic forecast data from various institutions including the IMF, OECD, and SECO, covering GDP, consumption, investment, and other economic indicators for multiple years. The data reflects changes and comparisons across different time periods.

Brent, U Range 1990-2024 Brent, US$ per barrel Range 1990-2024 US$9.10 - US$143.95 % change over previous year 2020 Histor 2021 rical 2022 2023 2024 Co 2025 onsens 2026 us For 2027 ecasts 2028 2030-34 1 Gross Domestic Product -7.6 6.8 2.6...

AI summary The text presents a table with economic data spanning from 1990 to 2024, including metrics such as Gross Domestic Product, Household Consumption, Business Investment, Manufacturing Production, Consumer Prices, and 10 Year Govt Bond Yield. The data reflects fluctuations and trends over time.

2026-2027 GRA Cleary IR-4 Attachment 1 Page 29 of 32 REDACTED (CONFIDENTIAL INFORMATION REMOVED) ltaly Histor ical Co onsens sus Fo recast s % change over previous year 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030-34 1 Gross Dome...

AI summary The document presents economic data and forecasts for Italy and Canada, including GDP, consumption, investment, industrial production, consumer prices, and treasury bond yields from 2020 to 2034. The data highlights trends and projections for key economic indicators over time.

LONG-TERM FORECASTS No rwa V % change over previous year Histor ical Co nsens us For ecasts ; % Change over previous year 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030-34 1 Gross Domestic Product -2.1 5.6 3.0 0.7 1.4 1.5 1.7 1.5 1...

AI summary The document presents long-term economic forecasts, including GDP, private consumption, investment, industrial production, and consumer prices from 2020 to 2034. It includes data on the current account balance and 10-year treasury bond yields, with some figures highlighted for emphasis.

NON-CONFIDENTIAL 1 America) equal to its respective estimates of average long-term nominal GDP growth. 20 one particular industry (including utility stocks). If not confirmed, please explain. 21 22 (b) Please provide the Blume (1970) study...

AI summary The text contains a request for specific financial data and calculations related to beta estimates and the CAPM model. It asks for the Blume (1970) study, raw beta estimates, and recalculated cost of equity estimates. The response confirms the request and refers to attachments for the study and revised beta data.

2026-2027 General Rate Application (M12451) NSPI Responses to GT Information Requests 1 (DDA) - 2024 Annual Report3 Deferral Account . The update in the 2024 DDA report 2 reflects the need to maintain units available until reliable operati...

AI summary The document discusses NSPI's response to information requests regarding the 2026-2027 General Rate Application, including updates to the Deferral Account and changes in forecast costs related to the operation and maintenance of Trenton Unit 5 and Lingan Unit 2. It also addresses the impact of inflation on operating expenses for thermal plants.

NON-CONFIDENTIAL 2024 Compliance ($) Land Lease 148,300 Insurance 84,969 Total 1,700,541 Proposed Wind farm to be constructed under NS Power's ECEI Other Goods and Services 3,400,000 1

AI summary The text presents a table with compliance costs for 2024, including land lease and insurance expenses, and mentions a proposed wind farm under NS Power's ECEI. Other goods and services are listed with a significant amount.

8 (b) Increased contractor costs in the 2026 forecast compared to 2024 compliance are due to 9 similar reasons as outlined in part (a). In order to successfully execute all of the additional 10 work two new PLT Contractor companies are bei...

AI summary The 2026 forecast shows increased contractor costs due to new companies and higher labour demands from population growth and electrification. Additional work has led to a 40% rise in customer-requested tasks and a $400M increase in transmission and distribution investment over five years. Labour costs are calculated using historical data adjusted for growth.

NON-CONFIDENTIAL 1 Request IR-35: 2 3 Reference: N-6 - 2026-2027 GRA Direct Evidence Appendix 7C Page 37-38 of 58 4 - 5 Per N-6, (Appendix 7C), page 37-38 of 58, we understand that other goods & services expense - 6 has increased from 2024...

AI summary NS Power is installing three grid-scale batteries expected to be operational in 2025 and 2026. The response explains that the increase in other goods & services expense is due to the operating and maintenance costs associated with these batteries, which are outlined in a table.

15 2026 2027 Long Term Service Agreement $734,763 $912,120 Site costs, including 1 full time employee and maintenance expenses $185,820 $235,286 Service Fee paid to partner $50,000 $100,000 Total Grid Scale Battery OM&G $970,583 $1,247,406...

AI summary The text provides a table outlining the projected costs for the Long Term Service Agreement, site costs, and service fees for a Grid Scale Battery OM&G from 2026 to 2027. The costs are detailed in Canadian dollars.

16 Contractor Management T&D Contract Expense ($ thousands) 2024 Compliance Restated 2025 Budget 2026 Forecast 2026 Forecast vs 2024 Compliance 2026 Forecast vs 2025 Budget Fleet 4,784.9 8,037.2 3,252.3 1,708.7 Utility Services 803.7 5,777...

AI summary The table presents contractor management and transmission and distribution contract expenses for 2024, 2025, and 2026, showing increases in costs across various categories, with the total expense forecast to rise significantly from 2024 to 2026.

Notes: - Burnside - o 4 units at Burnside - o Pratt & Whitney units; In service in 1976. - o 33 MW Each unit - o Fuel Oil / Gas - o Peaking Plant Quick to start in an emergency. - o Used in synchronous condenser mode for additional voltage...

AI summary The text provides details about several power generation units, including their locations, capacities, fuel types, and operational roles. It highlights that these units are used for peaking and backup power, and that capital spending has increased in the past decade to modernize them. The 2020 IRP determined that maintaining these units is more cost-effective than decommissioning or building new ones, with a probable retirement date of 2050.

- Replacing 10 per year doesn't even maintain status quo and leaves fleet risk unacceptably high. - Replacing 15 per year is likely to induce unsustainable financial strain. - Strategy going forward will need to include more life extension...

AI summary The discussion focuses on the replacement and maintenance of transformers, highlighting the need for life extension, increased internal expertise, and infrastructure capacity. It addresses the aging of transformers, replacement timelines, and the impact of new generation sources on substation equipment. The document also touches on voltage levels and the transition from 4kV to 25kV infrastructure.

• Circuit-breakers - o NSPI largely SF6 circuit breakers - Other utilities had issues with them leaking at the seals - On any breakers that are experiencing this leaking issue - o Sometimes it's just a gasket replacement or some other kind...

AI summary The document discusses the use and replacement of circuit breakers by NSPI, noting issues with SF6 breakers leaking at seals, maintenance solutions, and the replacement of Pennsylvania breakers. It also mentions the continued use of oil circuit breakers and the projected lifespan of new breakers. The text includes a meeting with various individuals related to thermal plants, ICP, and biomass.

ITEM 2: SUSTAINING CAPITAL Pursue economic reinvestment in existing hydro and combustion turbines with individual capital applications as applicable; economic justification as part of a capital application will be required to confirm a dec...

AI summary The document outlines the need for economic reinvestment in existing hydro and combustion turbines through individual capital applications, requiring economic justification. It also emphasizes monitoring sustaining capital investment in thermal units and conducting analyses if significant changes from IRP assumptions are observed.

ACCOUNT 353 STATION EQUIPMENT REGULAR COST OF REMOVAL GROSS SALVAGE NET SALVAGE 05-07 24,765 39,235 158 0 39,235-158- 06-08 28,924 5,486 19 0 5,486- 19- 07-09 19,522 0 0 0 FIVE-YEAR AVERAGE 05-09 21,179 23,541 111 0 23,541-111- YEAR REGULA...

AI summary The document presents a table detailing the costs and salvage values associated with station equipment retirements over several years, including regular retirements, cost of removal, gross salvage, and net salvage amounts.

ACCOUNT 310.99 STEAM PRODUCTION PLANT YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) LINGAN 1-2 INTERIM SURVIVOR CURVE IOWA 60-L2 PROBABLE RETIREMENT YEAR 6...

AI summary The text presents a table related to the steam production plant under Account 310.99, including details such as original cost, accrued amounts, calculated reserves, and remaining life. It references the Lingan 1-2026 Interim Survivor Curve and probable retirement year, indicating financial and operational planning considerations.

ACCOUNT 330.99 HYDRAULIC PRODUCTION PLANT YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1987 1988 1989 1990 1992 1996 1997 1999 2000 2001 2002 2003 2004 20...

AI summary This document presents a detailed table of financial data for Account 330.99, which relates to the hydraulic production plant. It includes information on original costs, accrued amounts, calculated allocations, book reserves, and annual accruals over various years.

ACCOUNT 340.99 OTHER PRODUCTION PLANT YEAR (1) ORIGINAL COST (2) CALCULATED ALLOC. BOOK FUT. BOOK ACCRUED RESERVE (3) (4) (5) ACCRUALS REM. LIFE (6) ANNUAL ACCRUAL (7) 1990 1991 1992 2,100,772.00 1,960,345.00 6,203,817.00 511,958 453,232 1...

AI summary The document presents a table detailing the financial information for Account 340.99 Other Production Plant, including original costs, accrued reserves, and annual accruals for the years 1990, 1991, and 1992.

ACCOUNT 350.1 LAND RIGHTS - EASEMENTS YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 51,683,256.00 15,950,860 15,703,196 35,980,060 651,189 COMPOSITE REMAIN...

AI summary This table outlines land rights and easements under Account 350.1, including original costs, accrued amounts, calculated reserves, and annual accruals. It provides financial details related to the remaining life and accrual rate for the account.

ACCOUNT 359 ROADS, TRAILS AND BRIDGES YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7)

AI summary The text presents a table related to Account 359, which covers roads, trails, and bridges. It includes columns for year, original cost, accrued amounts, calculated allocation, reserve, accruals, remaining life, and annual accruals. However, no data is provided in the table rows, making it difficult to determine the specific details being discussed.

ACCOUNT 361 STRUCTURES AND IMPROVEMENTS YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1953 1956 1957 1958 1959 1960 1961 1962 1963 1964 1966 1967 1968 1969...

AI summary Account 361 Structures and Improvements presents a detailed table outlining the original cost, accrued amounts, calculated allocations, book future reserves, accruals, remaining life, and annual accruals for various years from 1953 to 1994. This data is used for tracking the financial and structural development of infrastructure over time.

ACCOUNT 362.1 SCADA EQUIPMENT YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) SURVIVOR CURVE IOWA 14-R2.5 NET SALVAGE PERCENT 0 1996 8,409.00 6,778 4,708 3,7...

AI summary This section presents a table detailing the depreciation and accrued costs for SCADA equipment over various years, including original costs, calculated reserves, and annual accruals. It also references a 2010 depreciation study and an attachment from 2026-2027.

ACCOUNT 364 POLES, TOWERS AND FIXTURES YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7)

AI summary This section of the document outlines Account 364, which pertains to poles, towers, and fixtures. It includes columns for original cost, accrued amounts, calculated allocation book future book reserve, accruals, remaining life, and annual accruals. The table appears to be related to financial accounting and asset management.

ACCOUNT 365 OVERHEAD CONDUCTORS AND DEVICES YEAR (1) ORIGINAL COST (2) ACCRUED (3) RESERVE (4) CALCULATED ALLOC. BOOK FUT. BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1990 1991 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003...

AI summary This table details the original cost, accrued expenses, reserve amounts, calculated allocations, and annual accruals for overhead conductors and devices from 1990 to 2009. It provides a breakdown of financial data over time, including remaining life and calculated future book accruals.

ACCOUNT 367 UNDERGROUND CONDUCTORS AND DEVICES YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 20...

AI summary This table provides detailed financial data for Account 367, which relates to underground conductors and devices, including original costs, accrued values, calculated reserves, and annual accruals from 1992 to 2009.

ACCOUNT 368 LINE TRANSFORMERS YEAR (1) ORIGINAL COST (2) ACCRUED (3) RESERVE (4) CALCULATED ALLOC. BOOK FUT. BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000...

AI summary The text presents a detailed table of financial data related to Account 368 Line Transformers, including original costs, accrued amounts, reserves, calculated allocations, future book accruals, remaining life, and annual accruals from 1985 to 2009.

ACCOUNT 391.32 OFFICE FURN & EQUIP - COMPUTER SOFTWARE - FA YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991...

AI summary The document presents a detailed table of financial data for Account 391.32, which relates to office furniture and equipment, specifically computer software. It includes information on original costs, accrued values, calculated reserves, annual accruals, and remaining life for multiple years from 1982 to 2009.

The Parties HEREBY AGREE: - 1. This agreement is a "black box settlement" designed to achieve an overall result. The Parties have agreed to this settlement on the basis that it is made without prejudice to the right of any of the Parties t...

AI summary The Parties have entered into a 'black box settlement' regarding depreciation rates for NSPI, with agreed rates to be used in the next general rate application. The settlement does not preclude future arguments at depreciation hearings. NSPI will conduct a study on hydro assets to assess decommissioning and future investment opportunities.

- 3. NSP[ is entitled to full recovery of and a return on the prudently incurred investment in its regulated assets regardless of the depreciation methodology employed from time to time. - 4. In.lieu of pursuing recovery of the future deco...

AI summary NSP is entitled to full recovery of prudently incurred investments in its regulated assets. Instead of recovering future decommissioning costs for hydro assets as proposed, NSPI will conduct a study to assess retirement obligations, reinvestment, and potential extensions of the useful lives of hydro assets, with any resulting proposals subject to DARB approval.

- 3. NSPI is entitled to full recovery of and a return on the prudently incurred investment in its regulated assets regardless of the depreciation methodology employed from time to time. - 4. In lieu of pursuing recovery of the future deco...

AI summary NSPI asserts its right to recover costs and earn a return on prudently incurred investments in regulated assets, regardless of depreciation methods. Instead of pursuing recovery of future decommissioning costs for hydro assets, NSPI will conduct a study to assess retirement, repowering, and optimization opportunities for hydro assets.

- d Amounts shown are for vintages outside of the amortization period for each account. These amounts should be retired with the adoption of amortization accounting. 1 Request IR-19: 16 • Annual Capital Expenditure (ACE) Plan – NS Power's...

AI summary The text outlines several regulatory submissions by NS Power, including the Annual Capital Expenditure (ACE) Plan, Ten-Year System Outlook (10YSO), and Integrated Resource Plan (IRP), all submitted to the Nova Scotia Utility and Review Board (NSUARB). These documents detail capital investments, reliability planning, and system forecasts.

1 Introduction Nova Scotia Power Inc.'s (NS Power's) mission is that "We are proud to power Nova Scotia. Our customers count on us for safe, reliable and affordable electricity." NS Power is committed to supporting both the provincial and...

AI summary Nova Scotia Power Inc. (NS Power) outlines its commitment to asset management through its Strategic Asset Management Plan (SAMP), emphasizing the need for rigorous processes to support clean energy goals and regulatory compliance. The SAMP is a 5-year plan subject to review and revision as needed.

2 Purpose This SAMP describes NS Power's Asset Management objectives and their alignment with corporate objectives, how value from assets is derived and contributes to the achievement of objectives, the approach NS Power takes to decision-...

AI summary This section outlines NS Power's Strategic Asset Management Plan (SAMP), focusing on its Asset Management objectives, guiding principles, and approach to decision-making. The plan emphasizes integration, technology optimization, continuous improvement, and flexibility in managing assets to meet evolving operational, environmental, and regulatory needs.

2.1 Asset Management Overview NS Power employs Asset Management as a discipline to consistently and diligently understand the requirements of its assets to achieve organizational objectives and the risks to achieving those objectives, whil...

AI summary NS Power employs Asset Management to understand and manage its core assets, including generation and energy delivery infrastructure, to achieve organizational objectives while balancing customer costs. The approach is influenced by factors such as renewable integration, climate change, and regulatory requirements. NS Power has received several Asset Management awards and follows ISO 55000 standards without seeking certification.

6 Stakeholders Stakeholders are person(s) or group(s) that have an interest in the organization's performance, success or the impact of its activities. Both internal and external stakeholders have a vested interest in the quality and effec...

AI summary The document discusses stakeholders, defined as individuals or groups with an interest in NS Power's performance and the impact of its activities, emphasizing both internal and external stakeholders' interest in the quality and effectiveness of NS Power's asset management practices.

7 The Asset Management System As described above and in the Asset Management Framework (Fig. 4), the major components of NS Power's Asset Management System are the Asset Management Policy, SAMP, Asset Management Playbook, AMPs, and Asset M...

AI summary The Asset Management System of NS Power includes key components such as the Asset Management Policy, SAMP, Playbook, AMPs, and SOPs. These tools and processes, aligned with ISO 55000, guide the organization in managing its assets effectively and achieving its objectives.

7.1 Asset Management Playbook The Asset Management playbook is a mid-level document which describes the key processes and functions which enable, integrate and sustain asset management practice. NS Power uses several "icons" to communicate...

AI summary The Asset Management Playbook outlines key processes and functions that support asset management practices at NS Power. It includes visual tools such as the Asset Management Pyramid and Mechanism, which guide risk evaluation, normalization, and continuous improvement. The Capital Execution Justification Criteria (CEJC), approved by the UARB, is integrated into regulated capital project processes.

7.4 Asset Management Portfolio Overview NS Power expressly limits its asset management efforts on assets for operations - all Generation and Energy Delivery (Transmission, Distribution & Substation) assets required to generate and deliver...

AI summary NS Power focuses its asset management efforts on critical generation and energy delivery assets, with less rigor applied to facilities and IT assets. DirectLine and Maximo are the primary systems of record for managing generation and energy delivery assets, respectively.

8 Human Resources Human resource management, as it pertains to Asset Management practice, can be divided into several separate areas. - Asset Management System Function: As noted above, NS Power's Asset Management Pyramid considers roles r...

AI summary The section discusses human resource management within Asset Management at NS Power, covering areas such as the Asset Management System, capital project execution, operations and maintenance resourcing, and competency management. It highlights the importance of balancing resource constraints with risk management and the use of internal and external resources to meet operational and regulatory requirements.

9.1 Capital Process In support of its organizational and Asset Management objectives, NS Power utilizes the Asset Management Mechanism to inform and make risk-based decisions. This matrix, aligned with the matrices in NS Power's CEJC, prov...

AI summary NS Power uses an Asset Management Mechanism to evaluate risks and make decisions based on asset condition and organizational goals. The process considers safety, environmental impact, and business sustainability, while also factoring in customer affordability and financial constraints. A risk matrix is used, but subject matter expertise is essential for accurate evaluations. The Capital Optimization process, led by the EAM team, ensures that decisions balance risk, financial considerations, and operational needs.

Annual Capital Plan (ACE) The NS Power Annual Capital Expenditure (ACE) Plan provides customers, the NSUARB, and other stakeholders with a comprehensive and transparent overview of the Company's intended capital investments for the year ah...

AI summary The Annual Capital Expenditure (ACE) Plan by NS Power outlines the company's intended capital investments for the upcoming year, providing transparency to customers, the NSUARB, and stakeholders. It is aligned with NS Power's objectives and reviewed by the CEJC, and subject to stakeholder engagement processes.

- 11 financing cost to the benefit of customers. 1 Request IR-40: 2 3 Considering NS Power's proposal to securitize the costs of assets that were previously 4 proposed to be added to the DDA, please fully explain the continued purpose of t...

AI summary NS Power explains that securitization of DDA assets will reduce the DDA balance but that sustaining capital investments and decommissioning costs will still need to be recovered. NS Power also notes that the Cost of Removal regulatory account has been tracked since 2016, though full reconciliation by project is limited due to a cyber incident.

2026-2027 General Rate Application (M12451) NSPI Responses to MPA Information Requests 1 Request IR-8: 2 3 References: Direct Evidence p. 72: 4 5 "Maintaining [emphasis added] the current approved common equity ratio is 6 particularly impo...

AI summary The text discusses NS Power's need to maintain and increase its common equity ratio to support credit ratings during large capital investments. It highlights that while AFUDC contributes to earnings, it does not improve cash flow, leading to deterioration in credit metrics during construction phases. The response emphasizes the importance of maintaining financial integrity to attract necessary capital.

Appendix "A" GRA Element Settlement Terms 391.32 RESERVE VARIANCE AMORT - COMPUTER HARDWARE OFFICE FURNITURE EQUIPMENT - COMPUTER SOFTWARE RESERVE VARIANCE AMORT - COMPUTER SOFTWARE 10 - SQ 0 246,257,554 (416,440) c 85,873,932 (22,338,881)...

AI summary The document presents a detailed breakdown of reserve variance amortization across various categories such as computer hardware, office furniture, transportation equipment, and communication equipment. It includes figures and percentages related to different elements and their associated costs and amortization schedules.

REDACTED 2026-2027 GRA NSEB IR-2 Attachment 1 Page 5 of 6 REDACTED (CONFIDENTIAL INFORMATION REMOVED) As at December 31 millions of Canadian dollars 2024 Unregulated Retained Earnings Unregulated retained earnings - December 31, 2023 $181....

AI summary The document provides a detailed breakdown of financial figures related to unregulated retained earnings, property, plant, and equipment, as well as deferred income taxes and related party transactions for the period ending December 31, 2024. Key items include unregulated retained earnings, capital projects, and adjustments related to tax and financing expenses.

Nova Scotia Power Inc. Consolidated Statements of Cash Flows For the Year ended December 31 millions of dollars 2024 2023 Operating activities Net income $ 160 $ 141 Adjustments to reconcile net income to net cash provided by (used in) ope...

AI summary The document presents Nova Scotia Power Inc.'s consolidated statements of cash flows for 2024 and 2023, detailing cash inflows and outflows from operating, investing, and financing activities, along with supplemental disclosures for interest, income taxes, and non-cash activities.

Allowance for Funds Used During Construction AFUDC represents the cost of financing regulated construction projects and is capitalized to the cost of PP&E until the asset is operational. The Company includes an equity cost component in AFU...

AI summary AFUDC represents the cost of financing regulated construction projects and is capitalized to the cost of PP&E until the asset is operational. The calculation uses a weighted average cost of capital approved by the UARB and is compounded semi-annually.

Government Grants The Company accounts for government grants by applying a grant accounting model by analogy to International Accounting Standards ("IAS") 20 , Accounting for Government Grants and Disclosure of Government Assistance . A gr...

AI summary The Company accounts for government grants following IAS 20, with 2024 grants totaling $39 million, primarily for decarbonization and environmental compliance projects. A notable grant is from NRCan's SREP program for battery storage systems, with $26 million received in 2024.

Maritime Link: The Maritime Link is a $1.8 billion (including AFUDC) transmission project, including two 170-kilometre sub-sea cables, connecting the island of Newfoundland and Nova Scotia. The Maritime Link entered service on January 15,...

AI summary The Maritime Link is a $1.8 billion transmission project connecting Newfoundland and Nova Scotia, which became operational in 2018. NSPML received UARB approval in November 2024 to recover up to $197 million from NSPI in 2025, including a $158 million annual cost assessment and a $39 million supplemental assessment for federal loan guarantee repayment.

Battery Energy Storage System Project ("BESS Project"): On June 13, 2024, the UARB approved $238 million of capital investment, including AFUDC, for the BESS Project. The project is comprised of three 50 MW, four-hour battery facilities. T...

AI summary The UARB approved $238 million in capital investment for the BESS Project, which includes three 50 MW battery facilities. Two are expected to be operational by late 2025, and the third by 2026.

NSPI's target asset allocation for 2024 and 2023 was as follows: Asset Class 2024 Target Range at Market 2023 Target Range at Market Short-term securities 0% to 10% 0% to 10% Fixed income 34% to 49% 34% to 49% Equities: Canadian 5% to 15%...

AI summary NSPI's target asset allocation for 2023 and 2024 includes ranges for short-term securities, fixed income, and equities, both Canadian and non-Canadian. The pension assets are managed by the NSPI Management Pension Committee following policies approved by the Board of Directors.

Investments in Emera Incorporated or NSPI As at December 31, 2024 and 2023, the assets related to the pension funds do not hold any material investments in Emera or NSPI securities. However, as a significant portion of assets for the benef...

AI summary As of December 31, 2024 and 2023, pension fund assets do not hold material investments in Emera or NSPI securities. However, due to pooled assets, there may be indirect investments in these securities.

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.

Transactions between the Company and its related parties reported in the Consolidated Statements of Income and Consolidated Balance Sheets are as follows: For the Year ended millions of dollars December 31 Nature of Service Presentation 20...

AI summary The document outlines transactions between the Company and related parties, including sales and purchases, as well as the issuance of common shares to Emera. Key figures include sales of management and administrative services, purchases of fuel and electricity, and a significant decrease in the number of shares issued in 2024 compared to 2023.

A. Commitments As at December 31, 2024, contractual commitments (excluding pensions and other post-retirement obligations, long-term debt, interest payment obligations, long-term payables and ARO) for each of the next five years and in agg...

AI summary The document outlines contractual commitments as of December 31, 2024, excluding certain long-term obligations, and provides a breakdown of these commitments for each of the next five years and in aggregate thereafter.

C. Environment NSPI's activities are subject to a broad range of federal, provincial, regional and local laws and environmental regulations, designed to protect, restore and enhance the quality of the environment including air, water and s...

AI summary NSPI's environmental activities are governed by various regulations, including those related to transitioning off coal and increasing renewable energy sales. Environmental capital spending is estimated at $148 million in fiscal 2025 and $96 million from 2026 to 2029. Compliance with environmental laws is crucial, and failure to comply could have a material adverse effect on the company.

Regulatory and Political Risk NSPI is subject to complex legislative and regulatory frameworks that impact matters such as industry, business, rates and cost structures, revenue requirements, allowable ROE, capital structure, rate base and...

AI summary NSPI operates under a complex regulatory framework that affects its rates, costs, and operations. Regulatory approval is required for rate changes, and delays or disallowances could cause financial harm. Changes in government or policy could also impact regulatory stability and outcomes, potentially leading to a Material Adverse Effect.

Operations NSPI's earnings are most directly impacted by the range of ROE and capital structure approved by the UARB, the prudent management and approved recovery of operating costs, electric sales volumes, weather, the approved recovery o...

AI summary NSPI's earnings are influenced by factors such as approved ROE, capital structure, operating costs, electric sales volumes, and capital investment. In 2025, NSPI expects earnings to remain consistent with 2024 but to fall below its allowed ROE range, with increased sales volumes and capital investment of approximately $480 million.

Battery Energy Storage System Project ("BESS Project"): On June 13, 2024, the UARB approved $238 million of capital investment, including AFUDC, for the BESS Project. The project is comprised of three 50 MW, four-hour battery facilities. T...

AI summary The UARB approved $238 million in capital investment for the BESS Project, which includes three 50 MW battery facilities. Two are expected to be operational by late 2025, and the third by 2026.

Significant changes in the Consolidated Balance Sheets between December 31, 2024 and December 31, 2023 include: Increase millions of dollars (Decrease) Explanation Assets Cash $ (78) Decreased due to timing of receipts Inventory (50) Decre...

AI summary The Consolidated Balance Sheets show significant changes between 2023 and 2024, including decreases in cash, inventory, and regulatory assets, and increases in derivative instruments, pension assets, and property, plant, and equipment. These changes are attributed to factors like timing of receipts, commodity prices, capital investment, and regulatory deferrals related to the Fuel Adjustment Mechanism (FAM).

The Company generates internally sourced cash primarily through the generation, transmission and distribution of electricity. NSPI's customer base is diversified by both sales volumes and rates among customer classes. Circumstances that co...

AI summary NSPI generates cash through electricity generation, transmission, and distribution. Its liquidity and capital needs are driven by working capital, rate base investment, and debt servicing. In 2025, NSPI plans to invest approximately $480 million in capital projects to support power system reliability. It has a $800 million syndicated revolving bank line of credit with $611 million available as of December 31, 2024.

Cash Flow used in Investing Activities Net cash used in investing activities increased $34 million to $483 million in 2024 compared to $449 million in 2023 due to higher capital investment.

AI summary Net cash used in investing activities increased by $34 million to $483 million in 2024 compared to $449 million in 2023, primarily due to higher capital investment.

Cash Flow from Financing Activities Net cash used in financing activities increased $1,155 million to $514 million in 2024 compared to net cash provided by financing activities of $641 million in 2023 primarily due to lower proceeds from l...

AI summary Net cash used in financing activities increased to $514 million in 2024, compared to $641 million in 2023, due to lower long-term debt proceeds and higher net repayments under credit facilities, along with common stock issuance in 2023.

Working Capital As at December 31, 2024, NSPI's working capital decreased to $468 million from $553 million in 2023 primarily due to changes in inventory, changes in cash collateral positions on derivative instruments, and changes in accou...

AI summary NSPI's working capital decreased from $553 million in 2023 to $468 million as of December 31, 2024, mainly due to changes in inventory, cash collateral positions, and accounts payable, partially offset by changes in accounts receivable. The company expects to meet future liquidity and capital needs through internal cash flows, short-term credit facilities, and long-term financing.

Forecast 2025 and actual 2024 and 2023 capital investment, including AFUDC, is shown below: 2025 2024 2023 millions of dollars Forecast Actual Actual Distribution $ 140 $ 175 $ 148 Generation 117 151 147 Transmission 184 107 98 General pla...

AI summary The text provides a comparison of forecasted and actual capital investments for 2025 and 2024, including AFUDC, across various categories such as Distribution, Generation, Transmission, and General Plant. It also notes that NSPI's discount notes are backed by a revolving credit facility maturing in 2029.

Share Capital For the year ended December 31, 2024, the Company issued 0.04 million (2023 – 30.8 million) common shares to Emera for total consideration of $0.4 million (2023 – $308.4 million). As at December 31, 2024, NSPI had 173.5 milli...

AI summary In 2024, NSPI issued 0.04 million common shares to Emera for $0.4 million, significantly less than the 2023 issuance of 30.8 million shares for $308.4 million. As of December 31, 2024, NSPI had 173.5 million common shares issued and outstanding.

PENSION FUNDING For funding purposes, NSPI determines required contributions to its registered defined benefit pension plans based on smoothed asset values. This reduces volatility in the cash funding requirement as the impact of investmen...

AI summary NSPI uses smoothed asset values to determine pension contributions, reducing volatility in cash funding requirements. Contributions to defined benefit pension plans are expected to be $12 million in 2025, while defined contribution plans are projected at $8 million. Investments are managed by external managers under a long-term strategy focused on capital preservation and appropriate returns.

Guarantees and Letters of Credit As at December 31, 2024, the Company had $104 million US Dollars ("USD") (2023 – $104 million USD) of guarantees outstanding with terms of varying lengths, all of which are issued on behalf of NSPI's subsid...

AI summary As of December 31, 2024, the Company has $104 million USD in guarantees and $7 million USD and $3 million CAD in letters of credit outstanding, all issued on behalf of NSPI's subsidiary, NSPEMI.

Liquidity and Capital Market Risk Liquidity risk relates to NSPI's ability to ensure sufficient funds are available to meet its financial obligations. NSPI's access to capital and cost of borrowing is subject to several risk factors, inclu...

AI summary The document discusses liquidity and capital market risks faced by Nova Scotia Power Inc. (NSPI), including the impact of financial market conditions, credit ratings, and interest rate fluctuations on its ability to access capital and manage financing costs. A decrease in credit ratings could lead to higher borrowing costs and the need for additional collateral.

Project Development and Land Use Rights Risk The Company's capital plan includes significant investment in generation, infrastructure modernization and customer-focused technologies. Any projects planned or currently in construction, parti...

AI summary The Company's capital plan involves significant investment in generation and infrastructure, but faces risks including delays, cost overruns, and regulatory approval challenges. Projects may also require land-use rights from third parties, including Indigenous Peoples, which could lead to additional costs if not negotiated successfully.

Supply Chain Risk NSPI's ability to meet customer energy requirements, respond to storm-related disruptions and invest in capital in a cost-effective and timely manner are dependent on maintaining an efficient supply chain. Domestic and gl...

AI summary NSPI's operations are vulnerable to supply chain risks, including delays, cost increases, and shortages due to domestic and global issues, inflation, labor shortages, and regulatory changes. These risks could impact the company's ability to meet customer needs and invest in capital projects.

The following table sets forth selected annual consolidated financial information of the Company for the three years ended December 31: millions of dollars 2024 2023 2022 Operating revenues $ 1,855 $ 1,671 $ 1,675 Net income $ 160 $ 141 $...

AI summary The text provides selected annual consolidated financial information of the Company for the years 2022 to 2024, including operating revenues, net income, total assets, and total long-term debt. It also includes a request and response related to filing the current version of NS Power's 'The Path to 2030' and references an appendix to the 2025 Annual Capital Expenditure Plan.

5 Figure 6 – Main transformer installation for Spider Lake BESS site. 7 8 As directed by the Board in its Order regarding M11539, NS Power will provide a detailed interim 9 update report to the NSUARB and stakeholders by September 30, 2025...

AI summary NS Power is required to provide an interim update report to the NSUARB and stakeholders by September 30, 2025, detailing actual project costs, external funding developments, and projected completion dates for the three BESS Project sites, as directed by the Board in its Order regarding M11539.

9 SAIDI 2019 2020 2021 2022 2023 2024 NS Power 43.88 6.57 5.60 74.87 23.03 6.34 Atlantic Canada 26.37 7.21 6.03 47.69 18.44 6.91 Region 2 10.74 6.70 7.01 17.08 12.59 7.82 All-Canada 8.38 5.35 5.57 14.32 9.95 6.25 SAIFI 2019 2020 2021 2022...

AI summary The document presents SAIDI, SAIFI, and CAIDI metrics for NS Power and other regions from 2019 to 2024 and includes a request for NS Power to explain how reliability and affordability have been balanced in its 2026-2027 GRA application, referencing specific plans and exhibits.

Five-Year Reliability Plan – 2025-2029 NON-CONFIDENTIAL 2026-2027 GRA NSEB IR-20 Attachment 1 Page 7 of 40 1 customer engagement. In other jurisdictions in the United States and Canada, surveys have been 2 distributed to customers to gathe...

AI summary NS Power supports integrating customer engagement and Value of Lost Load (VoLL) into its reliability planning process. The Plan emphasizes adaptability and flexibility in response to external factors, and highlights the importance of balancing system resilience investments with ratepayer impacts. The Board's 2022 decision on capital expenditures is referenced as a key consideration.

10 2025-2029 Forecast Investment: $15 million 12 Similar to the distribution program, this program focuses on transmission lines and widening 13 corridors with existing managed ROWs to improve reliability for critical transmission assets....

AI summary NS Power plans to invest $15 million between 2025 and 2029 to widen transmission rights-of-way in six corridors, improving reliability for critical transmission assets. The 2025 ACE Plan outlines a $3.0 million investment for 2025 alone.

9 (c) The Tufts Cove Wharf / Buoy Chain Inspection and Maintenance Costs have been removed from the Tufts Cove and Combustion Turbines OM&G forecast for 2026 and 2027. The NS Power-Owned Variable Production Costs, which includes third part...

AI summary The Tufts Cove Wharf / Buoy Chain Inspection and Maintenance Costs have been removed from the Tufts Cove and Combustion Turbines OM&G forecast for 2026 and 2027. NS Power-Owned Variable Production Costs, including third-party production bonuses and penalties for NS Power-owned Wind Generation, have been removed from the Wind Hydro & Solar OM&G forecast for 2026 and 2027.

Request IR-46: (a) Please identify the amount budgeted in proposed rates for OM&G costs for vegetation management in 2026 and 2027. (b) Please provide a table showing the amount of OM&G funds spent on vegetation management for each year fr...

AI summary The request asks for budgeted OM&G costs for vegetation management in 2026 and 2027, along with a table of OM&G and capital funds spent on vegetation management and related work orders from 2019 to 2024. The response has not been provided yet.

Table of Contents (Cont'd) - Capital Additions Metrics - Capital Employed per Retail Customer - Total Plant Additions as Percent of Total Electric Plant - Total Plant Additions as Percent of Depreciation Expense - Production Additions as P...

AI summary The document outlines various metrics related to capital additions, finance and accounting, human resources, supply chain, and information technology. These metrics include percentages, costs, and efficiencies across different operational areas, with summary observations provided for each section.

Capital Additions Metrics 5-Year Average Category Median NSPI Total Plant Additions Total Capital Employed per Retail Customer $11,778 $10,350 $7,753 Total Plant Additions as % of Total Electric Plant 6.1% 5.6% 5.1% Total Plant Additions a...

AI summary The document presents capital additions metrics over a five-year period, comparing median values, NSPI values, and other metrics such as percentages of total electric plant, depreciation expense, and plant categories like production, transmission, and distribution.

CA1 – Capital Employed per Retail Customer - On a 5-year average basis, NSPI Capital Employed (or Net Plant) per Retail Customer is lowest of the peer group - NSPI Capital Employed per Retail Customer in 2023 was 8% higher than in 2019, wh...

AI summary This section discusses NSPI's Capital Employed per Retail Customer, showing that it is the lowest in the peer group on a 5-year average basis. In 2023, NSPI's Capital Employed per Retail Customer was 8% higher than in 2019, compared to a 16% increase for the peer median. The number of retail customers for both NSPI and peers increased by 5% over the period 2019 to 2023.

CA2 – Total Plant Additions as % of Total Electric Plant - On a 5-year average basis, NSPI Total Plant Additions as a Percent of Total Electric Plant is lower than the peer median - NSPI Total Plant Additions as a Percent of Total Electric...

AI summary NSPI's Total Plant Additions as a Percent of Total Electric Plant is lower than the peer median on a 5-year average basis. From 2019 to 2023, NSPI's Total Plant Additions increased by 17%, while the peer median increased by 31%. NSPI's Total Electric Plant increased by 14% in nominal terms, while the peer median increased by 26%.

CA3 – Total Plant Additions as % of Depreciation Expense - On a 5-year average basis, NSPI Total Plant Additions as Percent of Depreciation Expense is below the peer group median and the second lowest among all peers - NSPI Total Plant Add...

AI summary NSPI's Total Plant Additions as a Percent of Depreciation Expense has been below the peer group median, with a significant decrease in 2020 and a gradual recovery in subsequent years. While NSPI's Total Plant Additions increased by 17% from 2019 to 2023, peer median Total Plant Additions increased by 31% over the same period. Depreciation Expense for both NSPI and the peer median increased by 19% and 28%, respectively, in nominal terms.

CA10 – General Plant Additions as % of Total General Plant - On a 5-year average basis, NSPI General Plant Additions as a Percent of Total General Plant is above at the median of the peer group - NSPI General Plant Additions as a Percent o...

AI summary NSPI's General Plant Additions as a Percent of Total General Plant have decreased slightly between 2019 and 2023, but remain above the median of the peer group. In nominal terms, NSPI's General Plant Additions and General Plant increased significantly compared to 2019, though not as much as the peer median.

Summary Observations - On a 5-year average basis, NSPI Capital Employed per Retail Customer is just below the median. On a trend basis, NSPI moved above the median in 2021-2023 - On a 5-year average basis, NSPI Total Plant Additions as a P...

AI summary The document provides a comparative analysis of NSPI's capital and plant additions over a five-year period, highlighting its performance relative to the peer group median. Key metrics include Capital Employed per Retail Customer, Total Plant Additions, and various plant additions as a percentage of depreciation expense and plant values.

Observations - NSPI Total Cost to Perform the Process Group "Procure Materials and Services" per $1,000 Revenue in 2023 is 16% lower than the industry group median - NSPI Total Cost to Perform the Process Group "Procure Materials and Servi...

AI summary NSPI's cost to perform the 'Procure Materials and Services' process group has decreased significantly over the past five years, with a 23% reduction from 2019 to 2023, while revenue increased by 17% over the same period. The total cost to procure has decreased by 10% nominally.

IT4 – Percentage of Total IT Cost Allocated to Capital Costs

AI summary The document discusses the allocation of total IT costs to capital costs, referencing figures on page 12 that illustrate the percentage distribution.

Observations - Percentage of Total IT Cost Allocated to Capital Costs in 2023 is just above the industry group median - NSPI Percentage of Total IT Cost Allocated to Capital Costs decreased by 16 percentage points between 2019 and 2023 - N...

AI summary The text discusses changes in NSPI's IT cost allocation and capital costs over time, noting a decrease in the percentage of total IT cost allocated to capital costs and a decline in capital costs compared to an increase in total IT costs.

Factors Contributing to Performance The trend in reduced allocation of costs to capital is explained by movement of services to the Cloud, resulting in reduced need for IT infrastructure investment (i.e., servers) and a higher proportion o...

AI summary The reduction in IT capital costs is attributed to the shift towards cloud-based services, which reduces the need for physical IT infrastructure and increases reliance on software as a service models.

- 19 is the same as customer growth, it shows this information below. Company Percentage Change in Reported Number of Customers 7 NS Power's investment in its system is below average compared to its peers. 8 9 (b) Might this suggest that N...

AI summary The text discusses NS Power's investment levels compared to its peers, noting that overall capital employed per retail customer and five-year average total plant additions are below the peer median. However, production additions are in line with the peer median and trending higher in recent years.

2026-2027 GRA NSEB IR-85 Confidential Attachment 1 has been removed due to confidentiality. 1 Request IR-86: 4 • Nova Scotia has experienced higher levels of interprovincial migration. Many of these 5 new customers already have an establis...

AI summary The document discusses Nova Scotia Power's forecast of reduced security deposits due to interprovincial migration and rising living costs, as well as a request for information on capital items in the GRA that have not received NSEB approval. NS Power is committed to supporting low-income customers.

- on a differing timeline, NS Power expects that other capital investments will take their place and - the overall level of expected capital investment will be similar to that which is included in forecast. - NS Power calculates depreciati...

AI summary NS Power expects other capital investments to occur on a differing timeline, but overall investment levels will remain similar to forecasts. NS Power calculates depreciation at an asset group level, not a project level, and has not calculated depreciation for the projects in Attachment 1. The equity portion of financing expense for these projects is estimated at $7 million in 2026 and $14 million in 2027.

2026-2027 GRA NSEB IR-92 Attachment 1 has been filed electronically. 1 Request IR-93: 2 3 Please list all capital items included in the rate base which have not received Final Cost 4 approval from the NSEB. 5 6 (a) Include the approved wor...

AI summary The document discusses a request (IR-93) asking Nova Scotia Power to list capital items in the rate base without Final Cost approval from the NSEB. Nova Scotia Power responds that some projects are not yet complete, making it difficult to determine if Final Cost approval will be needed in the future.

1 Request IR-94: 2 3 With respect to rate base and regulated capitalization, please reconcile the two balances as 4 of the December 31, 2023, and December 31, 2024, year ends. 5 6 Response IR-94: 7 8 Please see below:

AI summary The document includes a request (IR-94) asking to reconcile rate base and regulated capitalization balances for the years ending December 31, 2023, and December 31, 2024, along with a response that refers to providing details below.

REDACTED 1 Request IR-96: 2 3 Reference: Exhibit N-3 GRA Direct Evidence, 9.3 Maritime Link Capital Applications 4 5 On page 60, NS Power addresses the Board's directive from the 2023-2024 GRA Decision 6 regarding inclusion of four Maritim...

AI summary The document discusses a request for detailed breakdowns of benefits and costs related to the Maritime Link transmission projects, including depreciation, financing costs, and energy purchases. It also asks for estimated costs of energy generation without using Maritime Link energy and capital costs for the projects.

4 At no point were NS Power's tie-lines constrained; therefore, there was no incremental 5 cost of redispatch to allow flow through. 7 (d) Please refer to GRA Application, Appendix 9A, 9B, 9C, and 9D for original capital costs. 8 Please re...

AI summary The text states that NS Power's tie-lines were not constrained, eliminating incremental redispatch costs. It also directs readers to appendices in the GRA Application for original capital costs and a table for Remaining Net Book Values as of January 1, 2026.

16 17 Capital Project Depreciation Incurred at Net book value at Item # Project Name Cost Shareholder Expense Jan 1, 2026 Upgrade L6511 and L7019 45066 Thermal Rating 2,546,158 474,943 2,071,215 Separate L8004/L7005 on Canso Crossing Doubl...

AI summary The document presents a table with capital project details, including depreciation and net book value, and includes a request and response regarding NS Power's working capital requirements. The response explains that an increase in 2026 is due to an investment tax credit expected to be received in 2027.

Commercial Paper Limit $800 million

AI summary The Commercial Paper Limit is set at $800 million, indicating the maximum amount of short-term debt that can be issued by the entity involved in the proceeding.

Financial Outlook NSPI's key credit metrics strengthened in the last 12 months ended September 30, 2024 (LTM 2024), because of the stronger earnings and cash flows, and the reduction in debt following the sale of the $117 million balance i...

AI summary NSPI's credit metrics improved in LTM 2024 due to stronger earnings, cash flows, and reduced debt from the sale of the FAM balance to the Province. Further improvements are expected in 2024 with the $500 million transfer from NSPML. NSPI has a large capex program but is expected to manage financing prudently to maintain BBB credit ratings. Emera Inc. has supported NSPI through flexible dividend policies and equity injections.

2. Limited access to equity markets NSPI has limited access to common equity markets to fund any free cash flow deficits. As such, we expect Emera to continue to support the Company's capex program with a flexible dividends policy and equi...

AI summary NSPI has limited access to common equity markets for funding free cash flow deficits, so Emera is expected to support the capex program through flexible dividends and equity injections when necessary.

Liquidity (CAD millions as at September 30, 2024) Amount Drawn/Letter of Credit Available Expiry Cash & cash equivalents 3 - 3 N/A Committed revolving facilities 800 291 509 June 2029 Total 803 291 512 - We consider the Company's liquidity...

AI summary The document presents the company's liquidity position as of September 30, 2024, showing cash and committed revolving facilities. It states that liquidity is adequate to support operating requirements.

Appendix 2—Regulation - NSPI operates under the NSUARB's regulatory environment using a COS methodology that allows the Company to recover all prudently estimated operating expenses and earn a reasonable return on approved capital investme...

AI summary NSPI operates under the NSUARB's regulatory framework, with a target ROE range of 8.75% to 9.25%. Bill 212 in 2022 imposed caps on base-rate increases and ROE. In 2023, the NSUARB approved a negotiated settlement with a 6.9% average rate increase for 2023 and 2024, including a Storm Rider and a FAM. In 2024, the NSUARB approved a Storm Rider of $24 million and the 2024 ACE plan. NSPI also sold a portion of its FAM asset to the Province and issued debt guaranteed by the federal government.

2026-2027 GRA NSEB IR-117 Attachment 1 has been filed electronically. 1 Request IR-118: 2 3 Reference: Exhibit N-8, Appendix 10A, Cost of Capital Report, page 68 of 87 4 5 Page 68 references a December 2024 economic forecast by TD Economic...

AI summary The document discusses the submission of a request (IR-118) regarding economic forecasts and capital projects in Nova Scotia. It questions whether recent economic forecasts and government investments have changed expectations about the province's macroeconomic situation and business investment. The response indicates that the September 2025 economic forecast from TD Economics does not significantly alter the near-term outlook.

IT IS HEREBY ORDERED THAT: - 1. Capital Item #47124 for NS Power's AMI Project in the amount of $133,228,952 is approved, subject to the findings in the Board's Decision. - 2. NS Power is directed to provide a detailed accounting of the us...

AI summary The Board approves NS Power's AMI Project capital item, directs detailed accounting of contingency funds, and mandates timelines for filing tariffs and compliance reports. It also requires NS Power to consider low-income and small business concerns, ensure health and safety information is available, and address opt-out procedures.

2026-2027 General Rate Application (M12451) NSPI Responses to EMRYDIA Information Requests 1 Request IR-4: 287,095,315.52 226,901,538 131,910,745 169,539,337 29,156,606 TRENTON COMMON INTERIM SURVIVOR CURVE IOWA 65-L1 PROBABLE RETIREMENT Y...

AI summary The document presents a table with financial data related to asset retirement obligations, including original costs, accrued reserves, future accruals, and annual accruals for the Trenton Common Interim Survivor Curve Iowa 65-L1 with a probable retirement year of 12-2029 and a net salvage percent of 5. The data spans from 1980 to 2000.

ACCOUNT 330.99 HYDRAULIC PRODUCTION PLANT YEAR (1) ORIGINAL COST (2) CALCULATED ACCRUED (3) ALLOC. BOOK RESERVE (4) FUTURE BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1958 5,296.16 4,903 3,991 4,536 34.03 133 1959 13,032.28 12,004 9...

AI summary The document provides a detailed table of financial data for Account 330.99, which relates to the Hydraulic Production Plant. It includes original costs, accrued amounts, book reserves, future accruals, remaining life, and annual accruals for various years from 1958 to 1995.

ACCOUNT 340.99 OTHER PRODUCTION PLANT - COMBINED CYCLE YEAR (1) ORIGINAL COST (2) CALCULATED ACCRUED (3) ALLOC. BOOK RESERVE (4) FUTURE BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 2003 2007 2010 2013 2014 2015 2016 2017 2018 2019 20...

AI summary This table provides a detailed breakdown of costs, accrued amounts, book reserves, future accruals, remaining life, and annual accruals for Account 340.99 Other Production Plant - Combined Cycle over various years, highlighting financial data related to this asset category.

ACCOUNT 354.00 TOWERS AND FIXTURES YEAR (1) ORIGINAL COST (2) CALCULATED ACCRUED (3) ALLOC. BOOK RESERVE (4) FUTURE BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) SURVIVOR CURVE IOWA 60-S2.5 NET SALVAGE PERCENT40 1978 378,679.49 349,99...

AI summary The document presents a detailed table of financial data related to Account 354.00, which covers towers and fixtures, including original costs, accrued amounts, book reserves, future accruals, remaining life, and annual accruals from 1978 to 2019.

ACCOUNT 365.00 OVERHEAD CONDUCTORS AND DEVICES YEAR (1) ORIGINAL COST (2) CALCULATED ACCRUED (3) ALLOC. BOOK RESERVE (4) FUTURE BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) SURVIVOR CURVE IOWA 42-R2 NET SALVAGE PERCENT30 1971 17,723....

AI summary The text provides a detailed table of financial data for Account 365.00, which relates to overhead conductors and devices, including original costs, calculated accrued values, allocated book reserves, future book accruals, remaining life, and annual accruals from 1971 to 2012.

ACCOUNT 366.00 UNDERGROUND CONDUIT SURVIVOR CURVE IOWA 70-S3 NET SALVAGE PERCENT 0 1968 110,427.39 77,836 95,775 14,652 20.66 709 1969 5,803.23 4,042 4,974 829 21.24 39 1970 64,993.45 44,715 55,021 9,972 21.84 457 1971 72,375.15 49,174 60,...

AI summary The text presents a table with financial data related to underground conduit costs and accruals over multiple years, including original costs, calculated accrued values, allocation book reserves, future book accruals, remaining life, and annual accruals for the Survivor Curve Iowa 70-S3.

ACCOUNT 369.00 SERVICES YEAR (1) ORIGINAL COST (2) CALCULATED ACCRUED (3) ALLOC. BOOK RESERVE (4) FUTURE BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) SURVIVOR CURVE IOWA 48-S2.5 NET SALVAGE PERCENT65 1952 1,688.32 2,520 2,786 1953 3,...

AI summary The text presents a table detailing original costs, calculated accrued values, allocated book reserves, future book accruals, remaining life, and annual accruals for Account 369.00 Services over various years from 1952 to 1993. These figures appear to be related to financial accounting and asset management.

Notes: • Computer hardware o - o They use HP as their primary vendor - o 5 years was used in the last depreciation study - o Any new changes in the operating? - Do they refresh their laptops more frequently than the desktops? - They believ...

AI summary The document discusses NSPI's computer hardware and software depreciation practices, including their use of HP as a primary vendor, the 5-year depreciation period for hardware, and the 10-year useful life for software. It also mentions a planned replacement of their legacy CIS system and benchmarking against industry standards for service lives.

ITEM 2: SUSTAINING CAPITAL Pursue economic reinvestment in existing hydro and combustion turbines with individual capital applications as applicable; economic justification as part of a capital application will be required to confirm a dec...

AI summary The document outlines the need for economic reinvestment in existing hydro and combustion turbines, requiring individual capital applications and economic justification. It also emphasizes monitoring sustaining capital investment levels and unit reliability, with potential triggers for analysis and studies if significant changes from IRP assumptions are observed.

Estimated Decommissioning Costs and Net Salvage Percents Related to Electricity Generating Stations Estimated Total Total Depreciable Max. Rated Decommissioning Decommissioning Annual Cost Decommissioning Original Net Probable Capacity Cos...

AI summary The document provides a detailed table of estimated decommissioning costs and net salvage percentages for various electricity generating stations in Nova Scotia, including hydroelectric facilities like Avon, Annapolis Tidal, and Bear River, along with their retirement dates, capacities, and financial figures.

ACCOUNT 353 STATION EQUIPMENT REGULAR COST OF REMOVAL GROSS SALVAGE NET SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT 1993 2,049,168 115,166 6 9,208 0 105,958- 5- 1994 1,250,184 68,489- 5- 11,241- 1- 57,248 5 1995 419,759 168,7...

AI summary The text presents a table detailing station equipment retirements and related financial figures from 1993 to 2006, including amounts for retirements, cost of removal, gross salvage, and net salvage. The data includes yearly totals and three-year moving averages, highlighting trends over time.

ACCOUNT 362 STATION EQUIPMENT YEAR REGULAR RETIREMENTS COST OF REMOVAL AMOUNT PCT GROSS SALVAGE AMOUNT PCT NET SALVAGE AMOUNT PCT 2006 1,167,022 1,002,847 86 0 1,002,847- 86- 2007 2,243,112 928,138 41 0 928,138- 41- 2008 1,998,048 1,450,52...

AI summary The text presents a table detailing station equipment retirements and associated costs from 2006 to 2005, including regular retirements, cost of removal, gross salvage amount, and net salvage amount percentages over various years and three-year moving averages.

ACCOUNT 310.99 STEAM PRODUCTION PLANT YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1986 1987 1988 1989 1994 1985 94,221,719.00 60,142,100 58,372,335 44,32...

AI summary This table provides financial details for the Steam Production Plant, including original costs, accrued amounts, calculated reserves, and annual accruals from 1986 to 1994. It outlines the financial allocation and depreciation over time.

ACCOUNT 330.99 HYDRAULIC PRODUCTION PLANT YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1987 1988 1989 1990 1992 1996 1997 1999 2000 2001 2002 2003 2004 20...

AI summary The text presents a table related to the hydraulic production plant account, detailing original costs, accrued amounts, calculated allocations, book future reserves, annual accruals, and remaining life for various years. It provides a breakdown of financial data over time.

ACCOUNT 340.99 OTHER PRODUCTION PLANT YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1...

AI summary The document presents a detailed financial table for Account 340.99, Other Production Plant, listing original costs, accrued amounts, calculated reserves, annual accruals, and remaining life for various years from 1952 to 1989. This data is used for accounting and financial planning purposes.

ACCOUNT 359 ROADS, TRAILS AND BRIDGES YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7)

AI summary The text presents a table titled 'ACCOUNT 359 ROADS, TRAILS AND BRIDGES' with columns for year, original cost, accrued amounts, calculated allocation, reserve, accruals, remaining life, and annual accrual. However, no data is provided in the rows, making it difficult to extract meaningful information.

ACCOUNT 361 STRUCTURES AND IMPROVEMENTS YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1953 1956 1957 1958 1959 1960 1961 1962 1963 1964 1966 1967 1968 1969...

AI summary Account 361 Structures and Improvements presents a detailed table with financial data spanning multiple years, including original costs, accrued amounts, calculated reserves, and annual accruals. The data appears to be related to long-term asset management and depreciation calculations.

ACCOUNT 362.3 MISCELLANEOUS EQUIPMENT YEAR (1) ORIGINAL COST (2) ACCRUED (3) RESERVE (4) CALCULATED ALLOC. BOOK FUT. BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1...

AI summary The text presents a detailed table with financial data for Account 362.3 Miscellaneous Equipment, including original costs, accrued amounts, reserves, calculated allocations, future book accruals, remaining life, and annual accruals from 1946 to 1985. It outlines the financial history and depreciation of miscellaneous equipment over several decades.

ACCOUNT 365 OVERHEAD CONDUCTORS AND DEVICES YEAR (1) ORIGINAL COST (2) ACCRUED (3) RESERVE (4) CALCULATED ALLOC. BOOK FUT. BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1929 1930 1931 1932 1933 1934 1935 1937 1938 1939 1940 1941 1942...

AI summary The document presents a detailed table outlining the historical costs, accrued expenses, reserves, and annual accruals for overhead conductors and devices from 1929 to 1958, providing a financial overview of infrastructure maintenance and depreciation over time.

ACCOUNT 367 UNDERGROUND CONDUCTORS AND DEVICES YEAR (1) ORIGINAL COST (2) ACCRUED (3) CALCULATED ALLOC. BOOK FUT. BOOK RESERVE (4) ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7) 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 20...

AI summary This section provides a detailed table of financial data for Account 367, which relates to underground conductors and devices. The table includes original costs, accrued amounts, calculated allocation book future book reserve, accruals, remaining life, and annual accruals for various years from 1992 to 2009.

ACCOUNT 368 LINE TRANSFORMERS YEAR (1) ORIGINAL COST (2) ACCRUED (3) RESERVE (4) CALCULATED ALLOC. BOOK FUT. BOOK ACCRUALS (5) REM. LIFE (6) ANNUAL ACCRUAL (7)

AI summary The text presents a table related to Account 368 Line Transformers, detailing financial data such as original cost, accrued amounts, reserves, and annual accruals. The table includes columns for year, original cost, accrued amounts, reserve, calculated allocation book future book accruals, remaining life, and annual accrual.

- d Amounts shown are for vintages outside of the amortization period for each account. These amounts should be retired with the adoption of amortization accounting. 1 Request IR-19: 16 • Annual Capital Expenditure (ACE) Plan – NS Power's...

AI summary The text outlines several regulatory submissions required by Nova Scotia Power, including the Annual Capital Expenditure (ACE) Plan, Ten-Year System Outlook (10YSO), and Integrated Resource Plan (IRP), all submitted to the Nova Scotia Utility and Review Board (NSUARB). These documents provide details on capital investments, system reliability, and long-term planning.

7.1 Asset Management Playbook The Asset Management playbook is a mid-level document which describes the key processes and functions which enable, integrate and sustain asset management practice. NS Power uses several "icons" to communicate...

AI summary The Asset Management Playbook outlines key processes and functions for asset management at NS Power, including the Asset Management Pyramid and Mechanism. These tools support continuous improvement, reliability, and risk management, with the Mechanism integrated into capital projects via the CEJC, approved by the UARB.

7.4 Asset Management Portfolio Overview NS Power expressly limits its asset management efforts on assets for operations - all Generation and Energy Delivery (Transmission, Distribution & Substation) assets required to generate and deliver...

AI summary NS Power focuses its asset management on critical generation and energy delivery assets, with practices also applied to facilities and IT assets. Data management strategies are being developed, and different systems of record are used for generation and energy delivery assets.

8 Human Resources Human resource management, as it pertains to Asset Management practice, can be divided into several separate areas. - Asset Management System Function: As noted above, NS Power's Asset Management Pyramid considers roles r...

AI summary The section discusses human resource management within Asset Management at NS Power, covering areas such as the Asset Management System, capital project execution, operations and maintenance resourcing, and competency management. It highlights the importance of balancing resource constraints with risk and the use of tools like the Competency Management System (CMS) to ensure compliance and performance.

9.1 Capital Process In support of its organizational and Asset Management objectives, NS Power utilizes the Asset Management Mechanism to inform and make risk-based decisions. This matrix, aligned with the matrices in NS Power's CEJC, prov...

AI summary NS Power uses a risk-based Asset Management Mechanism to evaluate and prioritize capital decisions. While the mechanism provides a starting point for risk evaluation, it emphasizes the need for SME input due to potential data limitations. Risk considerations include safety, environmental impact, and business sustainability, with final decisions balancing risk, affordability, and operational needs.

Annual Capital Plan (ACE) The NS Power Annual Capital Expenditure (ACE) Plan provides customers, the NSUARB, and other stakeholders with a comprehensive and transparent overview of the Company's intended capital investments for the year ah...

AI summary The NS Power Annual Capital Expenditure (ACE) Plan outlines the company's proposed capital investments for the upcoming year, aligned with its objectives and vetted according to the Capital Execution Justification Criteria (CEJC). The plan is submitted to the NSUARB and involves stakeholder engagement through written requests, public hearings, and other regulatory processes.

3.66%, while its U.S. 30-year forecast it uses of 4.14% is below the November 20, 2025 actual yield of 4.73%, so the difference in terms of the Canadian yields in this particular situation is minimal. Concentric proceeds to estimate an app...

AI summary The text discusses the use of the Capital Asset Pricing Model (CAPM) to estimate appropriate beta values for utilities, noting that U.S. utilities are not suitable comparators for Canadian ones due to higher business risk. Adjusted betas for utilities are found to be upwardly biased, leading to higher CAPM estimates compared to raw betas.

4 4.1.2 Capital Market Conditions The 30-year Government of Canada bond yield as of November 20, 2025 was 3.66%, while the 10-year yield was 3.23%. The total cost of borrowing to utilities is a function of both the level of government yiel...

AI summary The text discusses capital market conditions, noting that as of November 20, 2025, the 30-year Government of Canada bond yield was 3.66%, and the A-rated utility yield was 4.75%, resulting in a yield spread of 1.09%, below the long-term average of 1.39%. This indicates lower risk premiums in the bond market.

Expert Witness Experience: September 2025-August 2026 – Nova Scotia Energy and Regulatory Boards Tribunal (NSERBT). Prepare evidence and make recommendations regarding the Nova Scotia Power GRA Proceedings. July-December 2025 – Nova Scotia...

AI summary The text outlines the expert witness experience of an individual who has prepared evidence and made recommendations for various regulatory proceedings across Canada, focusing on return on equity, capital structure, and risk margins for utilities.

- "Debt Rating Initiations: Natural Evolution or Opportunistic Behavior?" 2013. Co-authored with Laurence Booth, University of Toronto, and Lynnette Purda, Queen's University. Journal of Modern Accounting and Auditing, Vol. 9 (No. 12), 157...

AI summary The text lists several academic publications from 2007 to 2013, focusing on topics such as debt rating initiations, institutional investment horizons, cost of equity capital, and investment decisions. These papers were co-authored with researchers from various universities and were published in journals like the Journal of Modern Accounting and Auditing, Financial Management, and the Journal of Banking & Finance.

1 2 total $1.3 million. NS Power also noted that there are ash hauling contracts for each of the thermal plants that include transportation, as well as maintenance of the ash management sites.52 3 4 5 o The above decrease is partially offs...

AI summary The text outlines various cost changes related to energy production and management, including increased labour and consulting costs, offset by decreased contract and insurance costs. It also references specific documents and appendices related to the regulatory process.

am will continue to increase every year as new vendor tools and capabilities are added to further secure the IT environment. The Company noted that capital investment from past years has implemented new security capabilities which have a c...

AI summary The Company anticipates increasing IT operational costs due to new vendor tools, cloud-based services, and increased headcount for initiatives like cybersecurity and technology upgrades. These costs are partially offset by non-regulated cost recoveries from affiliates.

1.2 million in 2026F and 2027F, respectively.[116](#page-33-2) - o Increased personal equipment and tools and equipment due to additional headcount and reclassification from the materials account (totalling $0.9 million). - A further incre...

AI summary The text discusses increases in operating costs for energy delivery, including personal equipment, contractor management, and labour costs, attributed to factors such as increased customer growth, fleet maintenance, and staffing changes. NS Power provides explanations for these increases, citing hiring, supply chain delays, and reliability investments.

s – IR-42. N-23 (C) – NSPI Responses to GT Information Requests – IR-45 Attachment 1. N-6 – 2026-2027 GRA Direct Evidence Appendix 7C page 48. - 1 Administration The decrease of approximately $5.8 million from 2024CR to 2027F is primarily...

AI summary The document discusses a decrease of approximately $5.8 million in administration costs from 2024CR to 2026F, primarily due to budget adjustments. This decrease is partially offset by increased labour costs from hiring five additional employees to support Energy Delivery operations, driven by population growth and infrastructure projects such as the Five-Year Reliability Plan.

2 7.1 Scope - 3 Rate base represents the investment made by NS Power in assets required to provide service to customers. Included - 4 in rate base are physical assets such as power plants, wind turbines, power lines, vehicles, buildings an...

AI summary The rate base includes physical and financial assets invested by NS Power to provide service to customers, and it is a core component in determining the company's revenue requirement as it reflects financing costs related to its investments.

Figure 23 – Total average capital assets used in rate base[200](#page-55-0) 1 ($ millions) Proposed 2026F 2027F vs vs Net regulated plant in service 2025F 2026F 2027F 2025F 2026F Notes Net regulated plant in service, beginning balance 4,65...

AI summary The text presents a table showing the changes in net regulated plant in service and construction work in progress from 2025 to 2027, including adjustments such as asset additions, depreciation, salvage costs, and securitization proceeds. It also includes notes on the calculations and sources of data.

- 6 [3] Retired assets The retired assets average balance increases in 2026F due to the forecast addition at the end - 7 of 2025 of $4.8 million related to the unrecovered decommissioning costs associated with the Roseway Hydro 8 System, w...

AI summary The text discusses the increase in retired assets' average balance in 2026F due to the addition of decommissioning costs from the Roseway Hydro System and Smart Grid Nova Scotia assets, as well as the forecasted retirement of Annapolis Tidal assets in 2027. Amortization of these assets is also outlined.

Figure 30 – Average cash working capital[234,](#page-61-1)[235](#page-61-2) 19 Proposed 2026F 2027F 2024 vs vs ($ millions) Compliance 2026F 2027F 2024C 2026F Allowance for working capital 79.1 137.5 114.7 58.4 (22.8) Average cash working...

AI summary The document presents a table showing the proposed and forecasted average cash working capital figures for different years, highlighting changes from 2024 to 2027. The table includes values for compliance, 2026F, 2027F, and comparisons to 2024C and 2026F. The text explains that the cash working capital allowance represents the average capital required beyond investments in plant and other rate base items.

11 7.4 Conclusion - 12 We have reviewed the components included in average rate base for the test years. Our procedures included - 13 agreeing all carry-forward data and forecast data to supporting documentation, checking the clerical - 14...

AI summary The review of average rate base components for 2026 and 2027 forecasts indicates that the amounts are approximately $5.58 billion and $5.89 billion, respectively, driven largely by average capital assets. The review found no unreasonable aspects in the forecasts.

from Gannett Fleming for a 45-R3 to a revised ALG remaining life calculation for a 52-R3 curve as I recommend (both with a -20 net salvage rate), the impact would be a reduction in depreciation expense for this account of approximately $75...

AI summary The text discusses depreciation calculations for poles, towers, and fixtures under Account 364.00, including recommendations for asset life curves and salvage rates. NS Power has invested over $646 million in this account and recommends a 43-R2.0 curve with a -35% net salvage rate. The FERC defines the account's scope, and a compliance filing is recommended for detailed calculations.

- m. Independent System Operator –2018 ISO Tariff Application Proceeding 22942 – Revenue requirement and cost-of-service. - n. ATCO Electric Transmission 2023-2025 General Tariff Application Proceeding 27062 – Revenue requirement, deferral...

AI summary The text lists various regulatory proceedings related to revenue requirements, deferral accounts, capital expenditures, and other financial matters involving ATCO Electric Transmission and AltaLink. These proceedings span multiple years and include audits, prudence assessments, and cost evaluations.

Page 1 of 5 Exhibit DMM-3 DE PR EC IAB LE GR OU P BO OK RE SE RV E AS OF DE CE MB ER 31 , 20 23 CA LC UL AT ED AC CR UE D DE PR EC IAT ION AL G P RO CE DU RE DIF FE RE NC E AL G P RO CE DU RE CA LC UL AT ED AC CR UE D DE PR EC IAT ION EL G...

AI summary This exhibit presents financial data related to depreciation and capital expenditures for various line items, including Line 1, Line 2, and Line 3-4, with calculated accrued depreciation and differences for both general and specific processes.

SUMMARY OF ORIGINAL COST, ACCRUAL PERCENTAGES AND AMOUNTS Plant Group / Accounts Original Cost Annual Accrual Percentage Annual Accrual Amount Distribution Plant $1,371,184,754 2.71% $37,093,784 Substations and Terminals $768,908,294 1.94%...

AI summary This summary outlines the original costs, annual accrual percentages, and amounts for various plant groups and accounts, including Distribution Plant, Substations and Terminals, and General Property, with a total plant balance of $2,343,595,750 and an annual accrual of $67,236,827.

ACCOUNT 20.00 – DISTRIBUTION – CLEARING Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $39,456,816 2.88% 24-S2 25-S2 The investment in Distribution – Clearing is approximately $39.5 million, representing a...

AI summary The Distribution – Clearing account involves an investment of approximately $39.5 million, representing 2.9% of the total Distribution functional group. This account includes costs for development activities and was analyzed using the retirement rate method. No T-Cut was included, and retirements of $1.6 million were recorded from 2001 through 2024.

ACCOUNT 120.00 – SUBSTATIONS & TERMINALS – SITE COSTS Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $17,409,965 2.26% 50-R4 50-R4 The investment in Substations and Terminals – Site Costs is approximately...

AI summary The document details an investment of approximately $17.4 million in Substations and Terminals – Site Costs, which represents 2.26% of the total Substations and Terminals functional group. The investment includes land clearing, grading, and utility installation, and the analysis of retirements from 1997 to 2024 was conducted using the retirement rate method without a T-Cut.

ACCOUNT 518.00 – SUBSTATIONS & TERMINALS – 15KV SWITCHGEAR Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $20,821,582 2.71% 50-R3 50-R3 The investment in Substations & Terminals – 15Kv Switchgear is approx...

AI summary The investment in Substations & Terminals – 15Kv Switchgear is approximately $20.8 million, representing 2.71% of the total Substations and Terminals functional group. The investment includes switchgear components and was analyzed using the retirement rate method, excluding T-Cut and accounting for retirements between 1997 and 2024.

ACCOUNT 131.03 – GENERAL PROPERTY – TRUCKS, CHASSIS AND BODY – 1 TON Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $6,487,745 3.19% 9-L3 8-L3 The investment in General Property – Trucks, Chassis and Body...

AI summary The document details an investment of approximately $6.5 million in General Property – Trucks, Chassis and Body – 1 Ton, which constitutes 3.19% of the total General Property functional group. The investment includes crew cab 1-ton trucks used for field operations, with retirements analyzed using the retirement rate method and a T-Cut at age 30.

ACCOUNT 131.04 – GENERAL PROPERTY – TRUCKS, CHASSIS AND BODY – OVER 1 TON Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $25,028,442 12.30% 8-S3 10-L3 The investment in General Property – Trucks, Chassis a...

AI summary The document details an investment of approximately $25 million in General Property – Trucks, Chassis and Body – Over 1 Ton, representing 12.30% of the total General Property functional group. The account includes single and tandem axle trucks with aerial devices, and retirements between 1997 and 2024 were analyzed using the retirement rate method without a T-Cut.

ACCOUNT 131.08 – GENERAL PROPERTY – CUSTOMER SERVICE VEHICLES Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $7,514,445 3.69% N/A 8-L2.5 The investment in General Property – Customer Service Vehicles is ap...

AI summary The investment in General Property – Customer Service Vehicles is approximately $7.5 million, representing 3.69% of the total General Property functional group. The account includes vehicles and related assets, and retirements between 2007 and 2024 were used in depreciation analysis. The T-Cut method was not used for this account.

Account Account Description Survivor Curve Investment Percentage Original Cost as of March 31, 2024 Calculated Reserve Book Reserve Future Accruals Annual Accrual Amount Composite Remaining Life Annual Accrual Rate Percent (1) (2) (3) (4)...

AI summary The text presents a table detailing various asset accounts, including their descriptions, survivor curves, investment percentages, original costs, reserves, and future accruals. The data covers a range of assets such as property, vehicles, and equipment, with specific financial figures and depreciation calculations.

SUMMARY OF ORIGINAL COST AND DEPRECIATION EXPENSE Plant Group / Accounts Original Cost Annual Accrual Amount Transmission Plant $676,482,928 $11,100,749 Substations and Terminals $768,908,294 $14,891,053 General Property $203,502,702 $ 12,...

AI summary The document provides a summary of the original cost and annual depreciation expense for various plant groups, including Transmission Plant, Substations and Terminals, and General Property, with a total plant balance of $1,648,893,924 and an annual depreciation expense of $38,871,043.

ACCOUNT 510.50 – TRANSMISSION – CONDUCTORS Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $166,519,369 24.62% 65-R4 65-R4 The investment in Transmission – Conductors is approximately $166.5 million, repres...

AI summary The document details an investment of approximately $166.5 million in Transmission – Conductors, which constitutes 24.62% of the total depreciated and amortized plant studied. The investment includes metal wires, cables, and busbars used for carrying electric current. The retirement rate method was used to analyze retirements, additions, and other plant transactions from 1932 to 2024, with retirements between 1998 and 2024 informing depreciation parameters. A T-cut was not used in the analysis.

ACCOUNTS 510.80 – TRANSMISSION – INSULATORS Investment $ Investment % Previously Approved Curves Concentric Recommended Curves $64,091,488 9.47% 37-R4 37-R4 The investment in NB Power's Transmission – Insulators in approximately 64.1 milli...

AI summary The document discusses an investment of approximately $64.1 million in NB Power's Transmission – Insulators account, which represents 9.47% of the total depreciated and amortized plant studied. The investment includes all insulators across NB Power's system, with retirements from 1998 to 2024 analyzed using the retirement rate method, excluding a T-Cut of $3.07 million.

ACCOUNT 120.00 – SUBSTATIONS & TERMINALS – SITE COSTS Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $17,409,965 2.26% 50-R4 50-R4 The investment in Substations and Terminals – Site Costs is approximately...

AI summary The document details an investment of approximately $17.4 million in Substations and Terminals – Site Costs, representing 2.26% of the total depreciated and amortized plant studied. The investment includes land clearing, grading, and utility installation. Depreciation parameters were developed using retirements from 1997 to 2024, without the use of a T-Cut.

ACCOUNT 510.30 – SUBSTATIONS & TERMINALS – BREAKERS AND RECLOSERS Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $72,409,229 9.42% 45-R2.5 45-R2.5 The investment in Substations & Terminals – Breakers and R...

AI summary The investment in Substations & Terminals – Breakers and Reclosers is approximately $72.4 million, representing 9.42% of the total depreciated and amortized plant studied. This account includes investments in switchgear devices for detecting and interrupting momentary faults in electric distribution networks. The retirements, additions, and other plant transactions from 1952 to 2024 were analyzed using the retirement rate method, excluding a T-Cut and recording $7.95 million in retirements.

ACCOUNT 510.40 – SUBSTATIONS & TERMINALS – INSTRUMENT TRANSFORMERS Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $25,453,816 3.31% 45-R3 45-R3 The investment in Substations & Terminals – Instrument Transf...

AI summary The investment in Substations & Terminals – Instrument Transformers is approximately $25.5 million, representing 3.31% of the total depreciated and amortized plant studied. The account includes instrument transformers used to measure electrical quantities. Retirements between 1998 and 2024 were analyzed using the retirement rate method, with no T-Cut applied.

ACCOUNT 510.50 – SUBSTATIONS & TERMINALS – BUSWORK HARDWARE Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $27,686,465 3.60% 50-R2.5 50-R2.5 The investment in Substations & Terminals – Buswork Hardware is...

AI summary The investment in Substations & Terminals – Buswork Hardware is approximately $27.7 million, representing 3.60% of the total depreciated and amortized plant studied. The account includes buswork hardware, connectors, and switches within NB Power's system. The analysis of retirements and additions from 1922 to 2024 used the retirement rate method, excluding T-Cut and recording retirements of $1,860,197.

ACCOUNT 518.00 – SUBSTATIONS & TERMINALS – 15KV SWITCHGEAR Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $20,821,582 2.71% 50-R3 50-R3 The investment in Substations & Terminals – 15Kv Switchgear is approx...

AI summary The document details an investment of approximately $20.8 million in Substations & Terminals – 15KV Switchgear, representing 2.71% of the total depreciated and amortized plant studied. The investment includes electrical switchgear components and was analyzed using the retirement rate method, with retirements from 1997 to 2024 considered in depreciation parameters.

ACCOUNT 540.10 – SUBSTATIONS & TERMINALS – TRANSFORMERS Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $232,965,899 30.30% 55-R2.5 55-R4 The investment in Substations & Terminals – Transformers is approxim...

AI summary The document discusses an investment of approximately $233 million in transformers under Account 540.10, representing 30.30% of the total depreciated and amortized plant. The investment includes all transformers in NB Power's system and ongoing replacement programs. A T-Cut at age 60 was used in the retirement rate analysis, resulting in recorded retirements of $16.98 million between 2013 and 2024.

ACCOUNT 650.00 – SUBSTATIONS & TERMINALS – CONTROL METERING AND RELAYING Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $93,147,482 12.11% 30-R2.5 30-R2.5 The investment in Substations & Terminals – Contro...

AI summary The investment in Substations & Terminals – Control Metering and Relaying is approximately $93.1 million, representing 12.11% of the total depreciated and amortized plant studied. The retirements, additions, and other plant transactions from 1922 to 2024 were analyzed using the retirement rate method, with retirements between 1997 and 2024 used to develop depreciation parameters. No T-Cut was utilized in this analysis.

ACCOUNT 131.02 – GENERAL PROPERTY – TRUCKS UNDER 1 TON Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $25,340,884 12.45% 8-S3 6-S3 The investment in General Property – Trucks Under 1 Ton is approximately $...

AI summary The document discusses the investment of approximately $25.3 million in General Property – Trucks Under 1 Ton, which accounts for 12.45% of the total depreciated and amortized plant studied. These trucks are used for metering and field staff, and the retirement rate method was used to analyze retirements and additions from 1979 to 2024, with $34.8 million in retirements recorded.

ACCOUNT 131.03 – GENERAL PROPERTY – TRUCKS, CHASSIS AND BODY – 1 TON Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $6,487,745 3.19% 9-L3 8-L3 The investment in General Property – Trucks, Chassis and Body...

AI summary The investment in General Property – Trucks, Chassis and Body – 1 Ton is approximately $6.5 million, representing 3.19% of the total depreciated and amortized plant. The account includes crew cab 1-ton trucks used for field operations, with retirements analyzed using a T-Cut at age 30, resulting in $14.37 million in recorded retirements from 1997 to 2024.

ACCOUNT 131.08 – GENERAL PROPERTY – CUSTOMER SERVICE VEHICLES Investment $ Investment % Previously Approved Curve Concentric Recommended Curve $7,514,445 3.69% N/A 8-L2.5 The investment in General Property – Customer Service Vehicles is ap...

AI summary The investment in General Property – Customer Service Vehicles is approximately $7.5 million, representing 3.69% of the total depreciated and amortized plant studied. The account includes vehicles and related assets, and retirements between 2007 and 2024 were used in the development of depreciation parameters, without the use of T-Cut.

\ Denotes Accounts Written up in Section 3 of the Depreciation Study Report Survivor Investment Original Cost as Annual Accrual Composite Annual Accrual 766.00 TOOLS AND WORK EQUIPMENT 15-SQ 0.1 0% 796,835 418,893 409,124 387,711 54,815 7....

AI summary This table presents financial data related to tools, work equipment, and plant assets, including original costs, accruals, and composite values. It includes details on depreciation, investment, and survivorship calculations for various assets.

SUMMARY OF ORIGINAL COST, PROPOSED ACCRUAL RATES AND AMOUNTS FUNCTION ORIGINAL COST AS OF 12/31/2020 ACCRUAL RATE ACCRUAL AMOUNT RESERVE VARIANCE AMORTIZATION Steam Production Plant 58,243,343 5.18 3,014,410 113,707 Other Production Plant...

AI summary This table presents the original costs, proposed accrual rates, amounts, and reserve variance amortization for various plant functions as of December 31, 2020. The data includes steam production, transmission, distribution, and general plant functions, with total figures provided for all categories combined.

ACCOUNT 368.2 LINE TRANSFORMER INSTALLATIONS COST OF GROSS NET 99-01 189,928 22,751 12 0 22,751- 12- 00-02 144,761 10,878 8 0 10,878- 8- 01-03 92,238 1,442 2 0 1,442- 2- 02-04 81,347 216 0 0 216- 0 03-05 107,387 143 0 0 143- 0 04-06 197,16...

AI summary The text provides a detailed breakdown of costs and salvage values related to line transformer installations and retirements from 1998 to 2020. It includes data on installation costs, removal costs, and salvage values over time, highlighting trends in transformer management.

ACCOUNT 373 STREET LIGHTING AND SIGNAL SYSTEMS REGULAR COST OF REMOVAL GROSS SALVAGE NET SALVAGE REGULAR COST OF REMOVAL GROSS SALVAGE NET SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT 1998 720 720- 1999 2000 2001 89,320 89,320...

AI summary The document presents a table detailing the removal and salvage values for street lighting and signal systems from 1998 to 2020, including amounts, percentages, and net salvage values for various years.

New Depreciable Groups to be Added in 2021 The company has plans to add in 2021 assets related to electric vehicle charging stations and a new Customer Information System (CIS). These two new major asset groups currently do not have an app...

AI summary The company plans to add new depreciable asset groups in 2021, including electric vehicle charging stations and a new Customer Information System (CIS). Due to the lack of historical data, Gannett Fleming recommends a 10-year service life with a 10.50% depreciation rate for EV charging stations and an 18-year amortization period with a 5.56% depreciation rate for the CIS.

be included in the pool of newer type assets that are likely to be in service less than 50 years, such as reclosers, feeder automation and smart grid equipment, than the assets previously in service. In addition, the substation capital exp...

AI summary The document discusses the replacement of aging substation assets with newer technology, such as digital relays and steel structures, which are expected to extend the life of substation equipment. Substation modernization is increasing capital expenditures but is anticipated to improve asset longevity and reduce risk of damage.

The cost of removal related to Substation, Transmission and Distribution asset replacement projects has trended up during the period 2005 – 2010 in comparison to previous periods. During this period Newfoundland Power implemented new strat...

AI summary Newfoundland Power observed an increase in removal costs for asset replacement projects between 2005 and 2010, leading to the implementation of new guidelines in 2011. These guidelines adjusted cost allocations for past projects and are expected to impact future removal costs and net salvage estimates.

HYDRO PRODUCTION PLANT - ALL ACCOUNTS REGULAR COST OF REMOVAL REUSE G R O S S S A L V A G E FINAL NET SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT AMOUNT PCT 1977 14,090 0 0 1,545 11 1,545 11 1978 150 0 0 0 0 1979 333 0 0 0 0...

AI summary The table provides a detailed breakdown of hydro production plant retirements, costs of removal, reuse, gross salvage, and net salvage from 1977 to 2003. It includes figures for each year, showing the amounts and percentages related to retirements and salvage values.

TRANSMISSION - ALL ACCOUNTS COST OF G R O S S S A L V A G E NET YEAR REGULAR RETIREMENTS REMOVAL AMOUNT PCT REUSE AMOUNT PCT FINAL AMOUNT PCT SALVAGE AMOUNT PCT 2017 1,973,487 678,636 34 0 0 678,636- 34- 2018 432,568 1,005,428 232 0 0 1,00...

AI summary The table presents data on transmission account retirements, removal amounts, reuse amounts, and salvage values from 2017 to 2011, highlighting trends in cost and salvage percentages over time. The data includes three-year moving averages and notes adjustments to COR amounts in 2005-2010 to align with new 2011 company guidelines.

ACCOUNTS 361.12, 361.13 AND 361.15 - OVERHEAD CONDUCTOR - ALUMINUM REGULAR COST OF REMOVAL REUSE G R O S S S A L V A G E FINAL NET SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT AMOUNT PCT 1976 114,352 32,493 28 0 10,057 9 22,43...

AI summary The document presents a table showing the retirement, cost of removal, reuse, gross salvage, and net salvage values for overhead conductor - aluminum from 1976 to 2016. The data includes amounts and percentages for each year, with adjustments made to COR amounts from 2005-2010 to align with new 2011 company guidelines.

ACCOUNTS 362.10 AND 362.20 - DISTRIBUTION - POLES AND FIXTURES - WOOD REGULAR COST OF REMOVAL REUSE G R O S S S A L V A G E FINAL NET SALVAGE YEAR RETIREMENTS AMOUNT PCT AMOUNT PCT AMOUNT PCT AMOUNT PCT 2000 1,527,165 587,498 38 90,426 6 0...

AI summary The document presents a detailed table showing the retirement, cost of removal, reuse, and salvage values for wood poles and fixtures from 2000 to 2018. It includes both annual and three-year moving average data, with adjustments made to COR amounts in 2005-2010 to align with 2011 company guidelines.

ACCOUNT 324.00 - DAMS AND RESERVOIRS YEAR (1) ORIGINAL COST (2) RATE (3) ANNUAL ACCRUAL AMOUNT (4) FACTOR (5) ACCRUED DEPREC AMOUNT (6) SURVIVOR CURVE IOWA 75-S0 NET SALVAGE PERCENT30 1904 22,000.00 0.78 223.08 0.9009 25,766 1917 4,655.00...

AI summary The document presents a table with financial data related to dams and reservoirs, including original costs, annual accrual amounts, depreciation factors, and accrued depreciation amounts for various years from 1904 to 1982.

ACCOUNT 326.00 - SWITCHING, METERING AND CONTROL EQUIPMENT YEAR (1) ORIGINAL COST (2) RATE (3) ANNUAL ACCRUAL AMOUNT (4) FACTOR (5) ACCRUED DEPREC AMOUNT (6) SURVIVOR CURVE IOWA 37-S0 NET SALVAGE PERCENT30 1941 331.00 1.0000 430 1942 1,200...

AI summary This document presents a table detailing the original cost, rate, annual accrual amount, factor, and accrued depreciation amount for switching, metering, and control equipment from 1941 to 2003. The data reflects depreciation calculations over time, with varying rates and factors applied to different years.

ACCOUNT 333.00 - PRIME MOVERS, GENERATORS AND AUXILIARIES YEAR (1) ORIGINAL COST (2) RATE (3) ANNUAL ACCRUAL AMOUNT (4) FACTOR (5) ACCRUED DEPREC AMOUNT (6) PORT UNION DIESEL INTERIM SURVIVOR CURVE IOWA 50-L1 PROBABLE RETIREMENT YEAR 12-20...

AI summary This section of the document outlines the depreciation and accrual details for various prime movers, generators, and auxiliaries, including diesel engines and gas turbines, across multiple years. It includes original costs, rates, annual accrual amounts, factors, and accrued depreciation amounts for different assets.

ACCOUNT 334.00 - FUEL HOLDERS YEAR (1) ORIGINAL COST (2) RATE (3) ANNUAL ACCRUAL AMOUNT (4) FACTOR (5) ACCRUED DEPREC AMOUNT (6) PORT UNION DIESEL INTERIM SURVIVOR CURVE SQUARE PROBABLE RETIREMENT YEAR 12-2010 NET SALVAGE PERCENT65 1993 17...

AI summary Account 334.00 - Fuel Holders includes a detailed table with information on fuel holders such as diesel and gas turbine assets, including original costs, rates, annual accrual amounts, factors, and accrued depreciation amounts for various years and locations.

ACCOUNT 350.01 - TRANSMISSION - ROW CLEARING AND EASEMENT SURVEY YEAR (1) ORIGINAL COST (2) RATE (3) ANNUAL ACCRUAL AMOUNT (4) FACTOR (5) ACCRUED DEPREC AMOUNT (6) SURVIVOR CURVE IOWA 70-R4 NET SALVAGE PERCENT 0 1952 3,790.58 1.28 48.52 0....

AI summary This document presents a detailed table of historical costs, rates, annual accruals, factors, and accrued depreciation amounts for transmission row clearing and easement surveys from 1952 to 1997, indicating long-term financial data related to infrastructure maintenance.

ACCOUNT 355.20 - TRANSMISSION - POLE FIXTURES YEAR (1) ORIGINAL COST (2) RATE (3) ANNUAL ACCRUAL AMOUNT (4) FACTOR (5) ACCRUED DEPREC AMOUNT (6) SURVIVOR CURVE IOWA 52-S0.5 NET SALVAGE PERCENT40 1953 0.38 1.27 0.01 0.8446 1954 0.16 0.8450...

AI summary This document presents a detailed table of depreciation and accrual data for pole fixtures under Account 355.20 - Transmission - Pole Fixtures, spanning from 1953 to 1999. It includes original costs, rates, annual accrual amounts, factors, and accrued depreciation amounts for each year.

ACCOUNT 361.13 - OVERHEAD CONDUCTORS - WATER-PROOF ALUMINUM YEAR (1) ORIGINAL COST (2) RATE (3) ANNUAL ACCRUAL AMOUNT (4) FACTOR (5) ACCRUED DEPREC AMOUNT (6) SURVIVOR CURVE IOWA 36-R1.5 NET SALVAGE PERCENT40 1976 1.15 1.95 0.03 0.8482 1 1...

AI summary This document presents a detailed table of depreciation and accrual data for overhead conductors, specifically waterproof aluminum, from 1976 to 2016. The table includes original costs, rates, annual accrual amounts, factors, and accrued depreciation amounts for each year.

5 customers? Yes. NSPI forecasts five new, utility-scale wind resources will reach commercial operations in December 2026. The projects total 480 MW in nameplate capacity and are modeled to produce 1,257,244 MWh in 2027. 47 8 NSPI forecast...

AI summary NSPI forecasts five new utility-scale wind projects totaling 480 MW, expected to produce 1,257,244 MWh in 2027. Spending on IPP wind is projected to increase from $80.9 million in 2026 to $152.3 million in 2027. Four projects are part of the province's 'Rate Base Procurement,' and one is being developed by an affiliate of PHP.

PHP Deferral appears to be a reasonable Response to NSPI (NSEB) IR-1 Attachment 1, page 9. Response to NSPI (BW) IR-4 (c); see also Response to NSPI (BW) IR-17 (f). Response to NSPI (BW) IR-18 (f). mechanism for reconciling any deviations...

AI summary The document discusses the PHP Deferral mechanism for reconciling revenue deviations and addresses NSPI's sustaining capital expenditures at Lingan 2 during 2026 and 2027. It notes concerns over the significant cost and the unit's status in cold reserve.

NSPI, "2025 Maritime Link Benefits Report Q3 PARTIALLY CONFIDENTIAL," November 10, 2025 ("Q3 Maritime Link Report"), page 5 lines 26-27. 1 margin."91 Note that NSPI filed a capital application at the Board in May 2024 seeking to 2 spend ju...

AI summary NSPI submitted a capital application in May 2024 to spend approximately $1.66 million for safe operations and firm capacity during the fall and winter of 2023–2024. However, the anticipated sustaining capital of nearly $21 million over the GRA period is considered a significant increase and requires additional narrative support from NSPI. The document also discusses the assessment of NSPI's load forecast, which was updated in September 2024 as part of the GRA Forecast.

Proposed ($) Adjustment ($) Approved ($) Prior Approved 2,273,831,000 - 2,273,831,000 Net Additions through Test Year 218,530,817 (3,392,530) 215,138,287 Test Year (2023) 2,492,361,817 (3,392,530) 2,488,969,287 Pro Forma Additions 246,699,...

AI summary The table presents financial data related to Plant-in-Service, showing proposed, adjustment, and approved figures for various periods, including the Test Year (2023) and Pro Forma Additions. The data reflects changes in the total Plant-in-Service at the end of the regulatory year.

2. Audit Procedures To investigate the reasonableness of the capital additions proposed by UI, PURA Staff conducted an engineering and accounting audit at the Company's headquarters. The audits were aimed at promoting transparency, verifyi...

AI summary PURA Staff conducted an engineering and accounting audit to assess the reasonableness of UI's proposed capital additions, ensuring transparency, responsible decision-making, and that ratepayers only pay for legitimate and prudent investments. The audit compared plant-in-service balances and reviewed supporting documentation for capital expenditures between September 2022 and December 2024.

Proposed ($) Adjustments ($) Approved ($) Prior Approved (2022) 2,273,831,000 2,273,831,000 Adjustments Test Year Beginning Balance Correction - (265,839) (265,839) Net Metering 2,226,469 (2,226,469) - Municipal Dashboard 900,222 (900,222)...

AI summary The table outlines proposed, adjustment, and approved figures for Test Year Plant-in-Service Adjustments, including items like Net Metering, Municipal Dashboard, and All Other Proposed Plant Additions, with specific dollar amounts and adjustments made.

iii. Municipal Dashboard In the instant proceeding, the Company seeks to include capital expenditures related to Project No. PRJ-002266, the municipal dashboard (Dashboard), in rate base. Interrog. Resp. RSR-251. The Dashboard is an online...

AI summary The Company is seeking to include capital expenditures for the municipal dashboard in rate base. However, the Authority denied this request, citing prior approval of the Dashboard as an operating expense and warning against segmenting project costs across multiple rate cases.

iv. Pole Attachment Make-Ready Capital Costs UI seeks to include $23,556,152 in capital additions in rate base relating to Project No. PRJ-002110, "Make Ready Cap – Pole Attachments" for costs incurred by the Company to perform engineering...

AI summary UI seeks to include $23.5 million in capital additions in rate base for pole attachment make-ready work, arguing it aligns with state broadband expansion goals. OCC recommends disallowing the full amount, claiming the costs should be borne by new attachers rather than ratepayers.

v. Barnum Avenue Bridge Replacement Project UI seeks to include $16,906,514 of capital additions in rate base relating to Project No. 801941.01, the Barnum Avenue Bridge Replacement Project, for costs incurred by 15 OCC refers to the gross...

AI summary UI seeks to include $16,906,514 in capital additions in the rate base for the Barnum Avenue Bridge Replacement Project, which involved underground system upgrades and conduit installations to support future capacity and reliability and avoid future traffic disruptions and roadway repairs.

vi. New Congress Getaway South The Company seeks recovery of $3,662,777 for Project No. PRJ-003425, relating to plant additions associated with the installation of duct infrastructure under a floodwall near the New Congress substation. [19...

AI summary The Company is requesting recovery of $3,662,777 for a project involving duct infrastructure installation near the New Congress substation. The Office of the Chief Counsel (OCC) argues that no energized cables are currently in the ducts and that a portion of the project may be reimbursable by NuPower, suggesting that general ratepayers should not bear the full cost.

Description Amount ($) Proposed Pro Forma Plant Additions 246,699,427 Adjustments Interim Period Rider LIDR (944,477) Municipal Dashboard 9,711 Future Period (132,458,039) Total Adjustment (133,392,805) Allowed Pro Forma Plant Additions 11...

AI summary The table outlines proposed and adjusted pro forma plant additions, including interim and future period adjustments, resulting in allowed pro forma plant additions of $113,306,622.

Working Capital Proposed ($) Adjustment ($) Approved ($) Cash Working Capital 38,948,809 (15,309,743) 23,639,066 Materials & Supplies 6,897,644 (1,903,115) 4,994,529 Total 45,846,453 (17,212,858) 28,633,595 Table 8: Approved Working Capita...

AI summary The table presents the approved working capital figures, including cash working capital and materials & supplies. The output from Plant Model tab 7 was used for these calculations.

3. Material and Supplies The Company proposes the inclusion of $6,897,644 for distribution Materials and Supplies (M&S) in the working capital balance for Rate Year 2025/2026. The Company recorded distribution M&S of $7,940,791 in the Test...

AI summary The Company proposed a distribution Materials and Supplies (M&S) amount of $6,897,644 for the working capital balance in Rate Year 2025/2026, but the Authority approved a lower amount of $4,994,529 after adjustments.

Category Proposed ($) Adjustment ($) Approved ($) Insurance 820,558 - 820,558 Fibertech 137,837 - 137,837 PURA Assessment 392,183 (392,183) - SBC Loan 198,887 - 198,887 Transmission ROW 101,612 - 101,612 Workers Comp 199,683 - 199,683 Soft...

AI summary The document details proposed, adjusted, and approved expenses across various categories, with a significant increase in software maintenance prepaid expenses attributed to the Company's Operational Smart Grids organization starting to use the prepaid process in 2022 to enhance efficiencies and secure vendor discounts. This change led to a substantial increase in prepaid expenses from 2022 to 2023.

Category Identifier Amount ($) 2023 Ending Balance A 3,544,347 2024 Proforma Adjustment B (166,986) 2024 Amortization Expense C (988,966) 2025 10-Month Amortization Expense (October)1 D (531,332) Balance as of November 1, 2025 E=A+B+C+D 1,...

AI summary The text presents a financial summary of expenses and balances related to amortization and software maintenance in a regulatory proceeding. It includes adjustments for 2024 and 2025, distribution portions, and proposed changes to the average software maintenance in the rate base.

The affordability analysis considers average 10-year capital spend of Baseline and Incremental program escalated by the GDP Deflator index to set the threshold. For purposes of the affordability analysis, UI excludes new customer connectio...

AI summary The affordability analysis uses the GDP Deflator index to set a threshold for capital expenditures, which UI's proposed investments fall under. However, UI argues that the Handy-Whitman Index is a more accurate reflection of utility costs, despite the GDP Deflator being used for normalization. The HW Index has shown higher inflation rates since 2021, particularly in distribution equipment.

5. Five-Year Capital Plan UI proposed recovery in rates of plant additions through the end of the Rate Year. [Table 22, below,](#page-47-2) shows plant additions requested in the Application. Actual and Planned Plant Additions ($) 9/1/22-1...

AI summary UI proposed recovery in rates of plant additions through the end of the Rate Year. The Authority requires plant additions to be deemed prudent and used and useful before they can be recovered in rate base. Tables detail actual and planned plant additions and capital expenditures for the Test Year and the five-year capital plan (2024-2028).

A. SUMMARY The Authority approves a weighted average cost of capital as depicted in the tables below.

AI summary The Authority approves a weighted average cost of capital as depicted in the tables below.

Table 26: Proxy Group Company Summary No. Utility Company Company OCC EOE Authority 1 Alliant Energy Corporation Y Y Y Y 2 Ameren Corporation Y Y Y Y 3 American Electric Power Company, Inc. Y Y Y Y 4 Avista Corporation Y Y Y Y 5 DTE Energy...

AI summary Table 26 lists various utility companies and their status regarding certain attributes such as OCC, EOE, and Authority. The table includes companies like Alliant Energy Corporation, Ameren Corporation, and others, with some marked as 'N' for not applicable in certain categories. The section following the table discusses capital structure.

1. Summary The Authority finds that a capital structure consisting of 51% common equity and 49% long-term debt is reasonable. The table below summarizes the authorized allocation.

AI summary The Authority determines that a capital structure with 51% common equity and 49% long-term debt is reasonable, as outlined in the summarized authorized allocation table.

Table 27: Approved Capital Structure Capital Component Allocation Common Equity 51% Long-term Debt 49% Total Capitalization 100% 2. Position of the Parties The Company proposes a capital structure consisting of 54% common equity and 46% lo...

AI summary The Company proposes a capital structure of 54% common equity and 46% long-term debt, based on an analysis of the average capital structure of utility operating subsidiaries in its Proxy Group. The approved capital structure in Table 27 is 51% common equity and 49% long-term debt.

3. Capital Structure Analysis The Authority establishes the ratemaking capital structure by carefully weighing several factors, including: the actual capital structure of the utility and its parent company; the range of capital structures...

AI summary The Authority determines the ratemaking capital structure by considering the utility's actual capital structure, proxy group data, and credit rating metrics. It balances investor and consumer interests, with utilities advocating for higher equity and entities like OCC supporting lower equity due to cheaper debt. The optimal capital structure must balance risk and cost.

a. Approved and Actual Capital Structure The first factor to consider when determining a reasonable capital structure for ratemaking purposes is the approved and actual capital structure of the Company. In both the February 4, 2009, Decisi...

AI summary The document discusses the approved and actual capital structure of The United Illuminating Company, highlighting that while the company has proposed higher equity ratios over time, the Authority has consistently approved a 50% equity and 50% long-term debt structure. The company's actual equity ratio has increased significantly since the last rate case.

b. Proxy Group Capital Structure The second factor to consider when determining a reasonable capital structure for ratemaking purposes is the capital structure of the proxy groups. During this proceeding, two distinct methodologies were us...

AI summary The document discusses two methodologies for calculating the capital structure of proxy group companies. The Company used subsidiary data, resulting in a 52.03% common equity ratio, while OCC and EOE used holding company data, yielding lower averages of 40.90% and a range of 42.40% to 45.90%. The Authority favors holding company data as it reflects optimal capital structures more accurately.

d. Conclusion Regarding the overall capital structure, the Authority considered (1) the approved and actual capital structure of the utility, (2) the capital structures of the companies in the proxy groups, and (3) the credit rating effect...

AI summary The Authority evaluated the utility's capital structure, credit ratings, and proxy groups, concluding that a 51.00% equity component is allowable, given the utility's higher credit ratings and historical equity capitalization compared to proxy groups.

of Rate Year engineering and SPA contractor expenses by adding three months of estimated contractor expenses in 2025 and nine months of estimated 2026 expenses. Interrog. Resp. RSR-174, Att. 1, p. 1. The Company's 2025 and 2026 contractor...

AI summary The document discusses the estimation of pole engineering expenses for 2025 and 2026, based on the number of pole attachment requests and the backlog from previous years. It outlines the Company's internal and external resource capabilities for engineering poles and provides workforce planning details for 2025 and 2026.

c. OPEB The Authority approves an OPEB credit of ($1,175,847), which is to be amortized over a three-year period, resulting in a Rate Year credit of ($391,949). The Company reported a $1,576,130 deferred OPEB liability accrued as of August...

AI summary The Authority approves an OPEB credit of $1,175,847 to be amortized over three years, resulting in a Rate Year credit of $391,949. This follows the Company's reported deferred OPEB liability of $1,263,859 as of October 31, 2025, and adjustments made to remove $200,322 in net carrying credits.

SPONSOR DATE CASE/APPLICANT DOCKET NO. SUBJECT Enbridge Gas Distribution 2022 Enbridge Gas Distribution EB-2022-0200 Capital Structure and Business Risk Ontario Energy Association 2024 Enbridge Gas, the Coalition of Large Distributors, Ont...

AI summary The document lists various regulatory proceedings related to capital structure, cost of capital, and return on capital across different jurisdictions and utility companies, including Enbridge Gas Distribution, Maritime Electric Company, and Duke Energy Ohio, Inc.

26 Q. WHAT IS NORMALLY THE DRIVING FACTOR LIMITING LIFE SPANS FOR 27 GENERATING FACILITIES? 28 A. Economic considerations are normally the limiting factor for life spans. If a unit is 29 operating inefficiently and alternative sources of e...

AI summary Economic considerations are typically the primary factor limiting the lifespan of generating facilities. Older, inefficient units are more likely to be retired due to higher operating costs, while newer, more efficient facilities are expected to operate longer. Even in the case of major incidents, economic factors usually dictate that units are repaired rather than retired.

24 Q. IS THIS CONCEPT ALSO APPLICABLE TO NSPI UNITS? 25 A. Yes. The Company has already made large capital expenditures to keep numerous 26 units operating by replacing static precipitators, replacing generators and installing bag houses,...

AI summary The concept applies to NSPI units as the Company has made and expects to make significant capital expenditures to maintain generating units, including replacing equipment and installing new systems.

5 Q. WHAT IS THE IMPACT OF YOUR RECOMMENDATION? 6 A. My recommendation on a standalone basis results in a $108,903 reduction in 7 depreciation expense based on wind turbine investment as of December 31, 2009. 8 However, the more significan...

AI summary The recommendation reduces depreciation expense by $108,903 based on wind turbine investment as of December 31, 2009, but its more significant impact will be on future wind turbine investments that are soon to be placed into service.

1 and will not pay for their fair share of costs, since historical customers would have 2 overpaid by paying for future costs with prior period current dollars. 3 4 Q. ARE YOU AWARE OF ANY CASE WHERE FERC HAS APPROVED THE 5 RECOGNITION OF...

AI summary The text discusses the recognition of future inflated costs and the discounting of these costs to present periods, referencing FERC's practices. It also covers the proposed inflation level for decommissioning costs, which is based on a 30-year historical period from the Handy Whitman report.

26 Q. ARE YOU AWARE OF A RECENT INSTANCE WHERE A POWER PLANT WAS 27 DEMOLISHED AND STILL PRODUCED A POSITIVE, RATHER THAN NEGATIVE, 28 NET SALVAGE? 29 A. Yes. The King Generating Station in Ft. Pierce, Florida, was demolished in the last 3...

AI summary The respondent confirms that a power plant, King Generating Station in Florida, was demolished and generated positive net salvage. The company admits that its decommissioning cost estimates lack detailed factors such as scrap metal recovery and does not include specific allowances for worst-case archaeological costs.

26 Q. WHY IS THE RECOGNITION OF SHORTER EXPERIENCE BAND ANALYSES 27 PERFORMED BY GANNETT FLEMING IMPORTANT IN THIS PROCEEDING? 28 A. While Gannett Fleming chose not to acknowledge the existence of or present the 29 results of the additiona...

AI summary The importance of Gannett Fleming's shorter experience band analyses in the proceeding is highlighted, as they provide significant information for the selection process. These analyses reflect trends in longer expected lives for investments, which were not initially provided by Gannett Fleming and may have hidden the impact of recent changes.

e, there can be no doubt that there exists a trend toward a 27 longer average service life, as more current experience bands are higher or more 28 elevated than is the 1942 – 2009 experience band. 29 58 2009 Study at page A-11. 3 A more ap...

AI summary The text discusses a trend toward longer average service lives for equipment such as transformers and circuit breakers, citing more recent experience bands and the Company's admission that these components are expected to last longer due to improved maintenance and design.

UTILITY RATE PROCEEDINGS IN WHICH TESTIMONY HAS BEEN PRESENTED BY JACOB POUS ALASKA CenterPoint Energy Entex – City of Tyler 9364 Capital Investment, Affiliates CenterPoint Energy Entex – Gulf Coast Division 9791 Rate Base, Cost Allocation...

AI summary The document lists various utility rate proceedings involving CenterPoint Energy Entex, Energas Company, and other entities, with details on the matters and topics discussed in each proceeding, including depreciation, cost of service, rate base, and affiliate transactions.

Q DO YOU HAVE ANY COMMENTS REGARDING THE DEVELOPMENT OF THE DECOMMISSIONING COST ESTIMATES? A Yes. The decommissioning cost estimates are overstated because the estimates place no value on the existing production sites, include a contingen...

AI summary The respondent argues that decommissioning cost estimates are overstated due to not accounting for the value of existing production sites, using an excessive contingency factor, and applying an unnecessarily high escalation rate. These factors increase depreciation rates and ratemaking expenses, and the respondent suggests adjustments to reflect the true value and cost of decommissioning.

Q DID CE PROVIDE ANY QUANTIFICATION OF THE ECONOMIC BENEFITS OF USING AN EXISTING GENERATION SITE AS OPPOSED TO A NEW GREENFIELD? A Yes. CE's witness stated in that case that the installed cost of a coal plant in US 2007 dollars of utilizi...

AI summary CE provided quantification showing that using an existing generation site (Karn/Weadock) saved approximately US $259 per kW compared to building a new greenfield coal plant. NSPI, however, did not consider this in its proposed depreciation rates.

Q IN THE MICHIGAN CASE THAT YOU PREVIOUSLY REFERRED TO, DID CE GIVE ANY INDICATION THAT THERE COULD BE SAVINGS IF A GAS COMBINED CYCLE UNIT WAS BUILT AT AN EXISTING SITE? A Yes. CE indicated that a gas combined cycle unit built at the exis...

AI summary In the Michigan case, Consumers Energy (CE) indicated that building a gas combined cycle unit at an existing site would save $40 per kW compared to a new site. The savings could offset a significant portion of Nova Scotia Power Incorporated's (NSPI) decommissioning costs, benefiting ratepayers.

Q HAS ANY OTHER UTILITY GIVEN ANY INDICATION THAT THE EXISTING PRODUCTION PLANT SITES ARE VALUABLE? A Yes. Public Service Company of Colorado addressed this issue in its 2003 Least-Cost Resource Plan, and stated: "Both a green-field and br...

AI summary The response confirms that the Public Service Company of Colorado considered brown-field sites for its Colorado Coal Project due to existing infrastructure, which would reduce costs compared to green-field sites. This is relevant to the discussion of existing production plant sites and their value.

s, March 28, 2024, p. 6. extent that energy transition increased or decreased the need for capital investments, this is dealt with through the regular rate cases, rather than a generic consideration. Several ratepayer groups submitted that...

AI summary Ratepayer groups and organizations discuss the impact of energy transition on capital investments and risk for electricity utilities. Some argue that energy transition is not yet significant and may reduce risk, while others emphasize the need to account for energy transition risk in rate cases. The EDA and OEA highlight that energy transition is inevitable and that new capital is required now, which introduces risk.

Equity Investors' Perspective Equity investors are more exposed to market volatility and regulatory changes and typically require a higher return to compensate for the greater risk of investing in a utility as an equity investor (versus a...

AI summary Equity investors require higher returns due to increased exposure to market and regulatory risks. A higher equity ratio can provide financial stability and reduce dilution of shareholder returns. The OEB faces the challenge of balancing cost of capital parameters and capital structure to satisfy both debt and equity investors while avoiding excessive rates for consumers.

Submissions Submissions were made by the Three Fires Group Inc. and Minogi Corp. (TFG/Minogi), as well as the Caldwell First Nation (CFN) and Mississaugas of the Credit First Nation (CFN/MCFN). Three proposals were made by TFG/Minogi, whic...

AI summary Submissions were made by TFG/Minogi and CFN/MCFN regarding risk premiums, WACC, and concurrent cost recovery for Indigenous equity participation and large projects. CFN/MCFN emphasized the need for engagement with First Nations and addressing their unique interests in the OEB's cost of capital policies.

Other ROE Matters Both the EDA and the OEA noted that their respective experts (Nexus and Concentric) made no adjustment to their proposed ROEs to reflect any risk associated with the energy transition. Several ratepayer groups noted that...

AI summary The EDA and OEA indicated that their experts did not adjust proposed ROEs for energy transition risks. Ratepayer groups argue that higher ROEs reinforce utility bias toward capital expenditures, hindering a cost-effective energy transition.

his view. SEC further stated that Nexus did not propose that customers receive a rebate for the benefits investors gain from share buybacks, which increase share value and are the inverse of dilution. The EDA stated that Nexus did not addr...

AI summary The EDA, OEA, and other parties discussed the need for financial flexibility in utility capital structures, with differing views on whether flotation costs and flexibility adders should be included in the ROE. SEC and CME questioned the justification for these adders, while the EDA and OEA supported a 50 basis points addition.

sts are amortized over infinity. The difficulty with this statement is that there is no evidence on the record that the costs were scrutinized in the first place, and certainly not in the 2009 Report. Concentric argued that the equity on t...

AI summary The text discusses the amortization of costs over infinity and questions the lack of evidence supporting the addition of 50 basis points to the ROE. Concentric argues that the flotation cost adder provides financial flexibility, but no empirical basis for the 50 basis points addition is provided. Based on 2023 fixed assets, the total revenue from the flotation adder is estimated at around $150 million, which is considered excessive given the rarity of equity issuance in Ontario.

d, in particular the acute risks to the natural gas distribution segment caused by the energy transition, Concentric found natural gas distribution to be riskier than electric distribution operations. Nexus proposed that the OEB retain its...

AI summary The expert report discusses risks in natural gas distribution due to the energy transition and recommends adjustments to allowed equity ratios for Hydro One and Enbridge Gas. Dr. Cleary suggests lowering Hydro One's allowed equity ratio to 36% over two to three years and maintaining Enbridge Gas's ratio at 36%, citing factors like credit ratings, debt costs, and financial risk.

Submissions OEB staff and several ratepayer groups submitted that no changes need to be made to the OEB's policy on capital structure in this proceeding and the default equity thickness should remain at 40% for electricity distributors and...

AI summary OEB staff and ratepayer groups argue against changing the OEB's capital structure policy, maintaining the default equity thickness at 40% for electricity distributors and transmitters. They note that Ontario equity ratios are in line with other provinces and that risk levels have not changed significantly since 2009. OPG's equity ratio is to be reviewed in a future proceeding, and Enbridge Gas and EPCOR Natural Gas will continue to be assessed on a case-by-case basis.

er 21, 2023, p. 67. 47 EB-2024-0130, Exhibit 5, Tab 1, Schedule 1, Page 8, July 18, 2024; EB-2024-0130, Decision and Order, January 14, 2025, Settlement Proposal, November 20, 2024, p. 25. SEC expressed concerns that it had expected that,...

AI summary The OEB has decided not to conduct a second phase of the proceeding regarding the capital structure of electricity distributors and transmitters, despite concerns raised by SEC. The OEB also finds that the energy transition has not significantly changed the risk levels for utilities compared to previous assessments, though it acknowledges potential opportunities from increased demand and infrastructure investment.

Expert Report Proposals LEI recommended that the current approach of allowing the same equity thickness for all electricity transmitters should be maintained: Hydro One and smaller, single-asset transmitters should all have the same equity...

AI summary LEI recommends maintaining the same equity thickness for all electricity transmitters, including Hydro One and smaller ones, citing similar risk profiles to distributors. Concentric disagrees, arguing single-asset transmitters face higher diversifiable risks and should have a higher equity ratio due to reliance on a single customer, the IESO.

Findings The OEB has considered whether a different approach to setting capital structure is warranted for single-asset electricity transmitters versus multiple-asset transmitters (i.e., whether a risk premium should be applied to the equi...

AI summary The OEB concludes that no distinction in capital structure is necessary for single-asset and multiple-asset electricity transmitters, as current mechanisms like DVAs mitigate financial risks. The OEB acknowledges concerns about Indigenous equity participation but finds no evidence of heightened risk for single-asset transmitters. The same capital structure methodology will continue to be applied to all transmitters.

Enbridge Gas The current OEB-approved capital structure for Enbridge Gas is based on a deemed 38% equity component, with the remaining 62% financed through short-term and longterm debt. The difference is that the deemed structure is not se...

AI summary The OEB has approved Enbridge Gas's capital structure, which is deemed to be 38% equity and 62% debt. This structure was adjusted in the EB-2022-0200 proceeding, reflecting updated assessments of business and financial risks. The OEB finds that the current approach to determining debt costs is appropriate and aligns with FRS.

OPG OPG's current approved equity ratio is 45%. The current OEB-approved capital structure is based on a deemed 45% equity component, with the remaining 55% financed through short-term and long-term debt. As with Enbridge Gas, the deemed c...

AI summary The document discusses OPG's approved equity ratio of 45% and its capital structure, which is set on a case-by-case basis. It explains how short-term debt is used to adjust OPG's deemed capitalization and how the OEB finds the current approach to determining debt costs appropriate. The OEB also concludes that this method ensures regulatory stability and compliance with FRS.

Submissions OEB staff submitted that the OEB's current practice of reviewing the prescribed interest rates for the CWIP account quarterly should be maintained, with updates only made if the formulaic approach results in a change in interes...

AI summary OEB staff recommend maintaining the current quarterly review practice for CWIP interest rates, using a debt-based rate from the FTSE Canada Mid Term Bond Index All Corporate yield, and applying the status quo rate to all projects under construction. They also note that in Ontario, CWIP is not included in rate base.

Findings The OEB will continue to use the FTSE Canada Mid Term Bond Index All Corporate yield as the prescribed interest rate for CWIP. The OEB finds it reasonable to use a mid-term index for CWIP that will be added to rate base at the nex...

AI summary The OEB continues to apply the FTSE Canada Mid Term Bond Index All Corporate yield as the prescribed interest rate for CWIP, maintaining the rate at 4.23% for Q2 2025. The OEB also agrees with the approach of updating interest rates quarterly only if changes exceed 25 basis points and disagrees with Concentric's view that the current method underestimates the cost of capital for utilities during project construction.

THE ONTARIO ENERGY BOARD ORDERS THAT: - 1. The following cost of capital parameters are approved on a final basis, effective January 1, 2025. Please refer to the Decision for details regarding implementation and applicability. - a. The Dee...

AI summary The Ontario Energy Board has finalized cost of capital parameters, including a Deemed Return on Equity of 9.00%, Deemed Long-Term Debt Rate of 4.51%, and Deemed Short-Term Debt Rate of 3.91%, effective January 1, 2025. Prescribed interest rates for deferral and variance accounts and construction work in progress are also set, with annual and quarterly updates required. Utilities must report on new long-term debt exceeding $50 million.

A. General Issues - 1. Should the approach to setting cost of capital parameters and capital structure differ depending on: - a) The source of the capital (i.e., whether a utility finances its business through the capital markets or throug...

AI summary The document outlines three key questions regarding the approach to setting cost of capital parameters and capital structure for utilities. It explores whether the approach should vary based on capital sources and ownership types, what risk factors should be considered, and how regulatory mechanisms influence utility risk.

E. Capital Structure - 12.How should the capital structure be set for electricity transmitters, electricity distributors, natural gas utilities, and OPG to reflect the FRS? - 13.Should the OEB take a different approach for setting the capi...

AI summary The document discusses the appropriate capital structure for various utility providers, including electricity transmitters, distributors, natural gas utilities, and OPG, in alignment with the Fair Return Standard (FRS). It also raises the question of whether the OEB should apply different approaches for setting capital structures based on whether electricity transmitters operate as single or multiple asset entities.

SUMMARY OF REVISED COST OF CAPITAL METHODOLOGY March 27, 2025

AI summary This document outlines the revised cost of capital methodology as of March 27, 2025, providing an updated approach for determining the cost of capital in regulatory proceedings.

Table 2 – Summary of Revised Methodology – Cost of Capital Electricity Natural Gas Distributors Deemed Capital Structure 40% equity, 56% long-term debt, 4% short term debt 45% equity, 55% debt90 The capital structure shall be determined at...

AI summary Table 2 outlines the revised methodology for determining the cost of capital for electricity and natural gas distributors in Nova Scotia, specifying different capital structures for various service territories and noting that some structures will be determined at the next cost-based rates application.

Capital Structure General Approach The 2009 Report continued the deemed equity ratio of 40% equity / 60% debt for electricity distributors established previously by the OEB in 2006. [110](#page-138-3) The 2009 Report said that for electric...

AI summary The document discusses the capital structure approach for electricity and gas utilities in Ontario, including the deemed equity ratios set by the OEB. It mentions that the 40% equity/60% debt ratio was extended to electricity transmitters and outlines the case-by-case determination for gas utilities and OPG. The OEB sets a uniform ROE and adjusts equity thickness based on business and financial risks.

Abstract Utility companies recover their capital costs through regulator-approved rates of return. Using a comprehensive database of utility rate cases, we find a significant premium for regulated returns on equity relative to several capi...

AI summary This study examines how utility companies recover capital costs through regulator-approved rates of return and finds that regulated returns on equity are significantly higher than capital cost benchmarks, leading to increased capital ownership and excess costs to US consumers averaging $7 billion annually.

1 Introduction In the two decades from 1997 to 2017, real annual capital spending on electricity transmission and distribution infrastructure by major utilities in the United States has more than doubled (EIA [2018a,](#page-41-0) [2018b)](...

AI summary This section discusses the significant increase in capital spending on electricity transmission and distribution infrastructure in the US from 1997 to 2017, noting that utilities have earned high regulated returns despite low interest rates. This raises concerns about potential excess returns driving investment, highlighting the challenge of setting fair rates of return in natural monopoly regulation.

reasonable. For some expenses, like fuel purchases or labor expenses, it is relatively easy to calculate and evaluate the companies' costs. For others, like capital, the task is less straightforward. Utilities own significant amounts of ph...

AI summary The document discusses the complexity of calculating utility costs, particularly for capital, and explains the concept of rate base and the opportunity cost of capital. It describes how utilities fund operations through debt and equity and how public utilities commissions determine a reasonable cost of capital during rate case proceedings.

4.3 Impacts on Capital Costs We turn now to the capital assets that utilities are able to earn a rate of return on: the rate base. To the extent a utility's approved RoE is higher than their actual cost of equity, they will have a too-stro...

AI summary Higher than actual cost of equity can lead to excessive capital investment by utilities, resulting in inefficient use of resources and increased costs for consumers.

4.3.1 Capital Investment Incentives The scope for rate of return regulation to distort utility capital investment incentives has long been theorized and studied (Averch and Johnson [1962)](#page-40-0). However, the empirical evidence for t...

AI summary This section discusses the theoretical and empirical analysis of how rate of return regulation may influence utility capital investment incentives, focusing on the Averch–Johnson effect. It addresses methodological limitations in prior studies and presents an improved approach using firm-level data and econometric techniques like fixed effects and first differences.

Table 4: Relationship Between Approved Rate of Return and Utility Capital, Opex, and Rate Base Model: Capital (1) Op Ex (2) Rate Base (3) Variables 0.0340∗∗ 0.0262∗∗∗ RoE gap (%) (0.0123) -0.0149 (0.0116) (0.0092) Fit statistics Observatio...

AI summary Table 4 presents statistical relationships between the approved rate of return and utility capital, operating expenses, and rate base, including variables, RoE gap, and fit statistics across different models.

Notes: The table uses the gap between approved RoE and 10-year US Treasuries. Dependent variables are logs of nominal USD. This table only includes utilities that report through FERC Form 1 and so is limited to electric utilities, or combi...

AI summary The analysis examines the relationship between the return on equity (RoE) gap and the rate base, finding a significant positive effect where a 1 percentage point increase in the RoE gap leads to a ∼3% increase in the approved rate base. This effect is comparable to the impact observed on capital assets, indicating a strong correlation between FERC-reported capital assets and the rate base.

crease in the rate base, depending on the choice of fixed effects. As such, we take our FERC-reported capital asset results as providing a good guide to the impact of the RoE gap on capital ownership. In addition to looking at total capita...

AI summary The analysis examines the impact of the RoE gap on capital investment and operating costs for electric utilities. It finds that distribution grid investments are the primary driver of increased capital assets, while generation costs remain stable. Some smaller operating costs show increases, possibly due to higher capital investments.

\_Products\_](https://www.cpuc.ca.gov/uploadedFiles/CPUC_Public_Website/Content/About_Us/Organization/Divisions/Policy_and_Planning/PPD_Work/PPD_Work_Products_(2014_forward)/PPD-An-Introduction-to-Utility-Cost-of-Capital.pdf) [(2014\_forwa...

AI summary The text provides references to documents and research related to utility cost-of-capital, renewable energy policy, and energy transitions in regulated markets. It includes citations to academic papers, technical reports, and working papers from various sources.

B.1 Benchmarking to the Capital Asset Pricing Model CAPM: Risk-free rate The risk-free rate, , is intended to capture the base level of returns from an effectively zero risk investment. Yields on government bonds are the common source for...

AI summary This section discusses the use of the Capital Asset Pricing Model (CAPM) in benchmarking, focusing on the risk-free rate derived from 10-year US Treasury bond yields. The choice of maturity and whether to use forecasted or historical rates can impact the final cost of equity.

CAPM central CAPM high CAPM low Corp RoD UST UST Auto UK 1982 −4.81 −1.27 3.15 −1.77 0.82 1986 1.10 4.18 1.84 2.11 3.17 3.12 1990 −1.39 1.63 −0.09 0.81 0.56 0.95 1994 −1.08 1.90 0.71 −0.02 0.78 0.43 1998 2.02 0.57 3.49 2.34 0.25 2.31 1.05...

AI summary The table compares various financial benchmarks, including the Capital Asset Pricing Model (CAPM), corporate bonds, regulator-approved return on debt (RoD), 10-year US Treasuries (UST), and UK regulatory decisions, across different years from 1982 to 2022. The data reflects weighted averages across utilities based on their rate base.

E Detail on Capital Impacts per kWh Here we present the same tables as in the main text but using per unit values rather than total values.

AI summary This section provides tables with per unit values for capital impacts rather than total values, offering a detailed breakdown of capital costs per kWh.

- On behalf of the Board of Commissioners of Public Utilities of Newfoundland and Labrador, provided two expert reports (with co-author) in the matter of Newfoundland and Labrador Hydro's 2025 Application for Capital Expenditures for the P...

AI summary The text outlines various testimonies and expert reports provided by individuals on behalf of different regulatory bodies in matters related to energy regulation, capital expenditures, fuel adjustment mechanisms, and prudence reviews. These proceedings involve entities such as Nova Scotia Power, Inc., Newfoundland and Labrador Hydro, and Mississippi Power Company.

ernatives, and provided an assessment of the impact on the financial indicators of Atmos Mississippi of the rider as proposed and under various scenarios arising from the testimony on other witnesses. Before joining Bates White, Ms. Morgan...

AI summary The text discusses the financial impact assessment of a rider on Atmos Mississippi and highlights the experience of Ms. Morgan in conducting cost of capital studies and testimonies before public utility commissions in North America, focusing on regulatory practices and business risk factors.

Selected other work Client Issue Date International Arbitration (various) Damages 2021–2024 Nebraska Public Service Commission Advisor 2020, 2025 Ontario Power Generation Construction Cost Estimation 2020–2021 Nova Scotia Utility and Revie...

AI summary This section presents a list of various legal and regulatory engagements involving different clients and issues across multiple jurisdictions, including arbitration, utility regulation, and financial assessments, spanning from 2000 to 2025.

2026-2027 GRA U-12 Attachment 1 Page 5 of 172 AccountNuGroupNumProbableRProbableRGivenASL CurveNamNetSalvag OriginalCost CalculatedAccrued BookReserve FutureAccruals Composite AnnualAccrual AnnualAccInServiceM 2031 9 ASL_BG RL_Allocat 0 0...

AI summary The text presents a table with account numbers, group numbers, probable rates, and related financial figures, including original costs, calculated accrued values, book reserves, and future accruals. It appears to be part of a financial or accounting report.

9 EqualLifeGroup RL_Allocat 0 0 34.19535 0.00 365202041EqualLifeGroup 2041 9 EqualLifeGroup RL_Allocat 0 0 18.25804 0.00 366002041EqualLifeGroup 2041 9 ASL_BG RL_Allocat 0 0 9.157813 0.00 398002041ASL_BG 2041 9 ASL_BG RL_Allocat 0 0 3.3963...

AI summary The text contains a series of tables and data entries related to RL_Allocat calculations for various entities, including EqualLifeGroup and ASL_BG, with values such as RemainingMinRlValue and AccountNumber for different years and procedures.

CalculationYear CalculationCalculationProcedureName RemainingMinRlValueMinRlValueAverageAge AccountNumberCalculationYearCalculationProcedureName 2046 9 EqualLifeGroup RL_Allocat 0 0 15.69335 0.00 366002046EqualLifeGroup 38000 00 0 8 2025 1...

AI summary The text presents a table with various calculation years, account numbers, and values related to 'RL_Allocat' and '45-R2 - Ending Balance' across multiple years, indicating financial or asset-related data tracking over time.

Findings Based on the information provided, the Board finds that the work associated with the LIN2 2024/2025 Capacity Requirement project was necessary to provide firm capacity for the 2024/2025 fall and winter season. Accordingly, the Boa...

AI summary The Board approves the LIN2 2024/2025 Capacity Requirement project for $1,257,127, finding it necessary to provide firm capacity for the 2024/2025 fall and winter season. NS Power outlined seven related capital projects for 2025, but indicated it would not submit them collectively for approval, as it has in previous years.

NSEB APPROVAL SHEET Project Title: LIN2 2024/25 Capacity Requirement CI Number: C0067023 Date: June 9, 2025 Expenditure Profile Type of Filing Year Budget Amount Project Estimate Capital Project Authorization X Unforeseen and Unbudgeted (U...

AI summary The NSEB Approval Sheet outlines the LIN2 2024/25 Capacity project, including budget amounts, project estimates, and authorization details for capital expenditures. The document includes a total budget and project estimate for the years 2024 and 2025.

CHALLENGES TO OVERCOME - Developing new practices may: - Require more time on worksites - Affect work planning if issues are not anticipated - Require additional inspections during the work - Increased construction costs Construction work...

AI summary The text outlines challenges related to developing new practices in construction, including increased time on worksites, potential disruptions to work planning, and the need for additional inspections. It also mentions increased construction costs, with a reference to an image of construction work at the Romaine-4 site.

(a) Capital and Depreciation The following allocation factors could be used to allocate the capital costs and depreciation: - number of meters - weighted number of meters The number of meters as an allocator assumes that metering costs are...

AI summary The document discusses allocation factors for capital costs and depreciation, specifically the number of meters and weighted number of meters. The former assumes uniform metering costs across customer rate classes, while the latter considers both the number of metering points and the capital costs of devices for each class.

7.2.1 Background General plant includes the capital cost and depreciation (if applicable) associated with buildings, leasehold improvements, land, land rights, general computer equipment, office furniture, and transportation equipment.

AI summary The general plant encompasses capital costs and depreciation related to buildings, leasehold improvements, land, land rights, computer equipment, office furniture, and transportation equipment.

7.5.2 Options Capital, income and property taxes are commonly allocated on the basis of the allocated distribution rate base given that they are largely asset-related. Another method of allocation consists of going through the detailed inc...

AI summary The text discusses two methods for allocating capital, income, and property taxes: one based on the allocated distribution rate base and another involving detailed tax calculations. The latter is noted as complex and rarely used.

4.1.7 Filing Questions It may be of future assistance to the Board to better understand how a distributor attributes various costs to certain key accounts. The following questions must be answered in the filings: - 1. As a distributor, sum...

AI summary The Board requests clarification on how a distributor attributes costs to key accounts, including capitalization policies, functions charged to Account 5630, and the recording of Customer Information System Expenses.

Road Widenings/Relocations Road widenings and improvements, related to capital programs, are undertaken by municipalities and regional authorities and can involve removal and relocation of distribution assets. Transformation costs would no...

AI summary Road widenings and relocations, part of capital programs managed by municipalities and regional authorities, may require the removal and relocation of distribution assets. Transformation costs are typically not involved, and cost sharing is determined by a standard formula under applicable legislation.

6.6.4 Direction - Breaking out of Contributed Capital in Filings The following outlines two approaches to assign capital contribution to the various assets. The Filing Summary must identify which approach was used.

AI summary This section outlines two approaches for assigning capital contributions to various assets, requiring the Filing Summary to specify which method was applied.

Recommended Approach If the distributor can conduct a detailed analysis of contributed capital by either asset type or rate classification, then it must do so and provide its methodology and supporting information in its Filing Summary. Wh...

AI summary The distributor is required to conduct a detailed analysis of contributed capital by asset type or rate classification, providing methodology and supporting information in its Filing Summary. The filing model will support direct allocation of capital contributions to rate classifications.

Alternative Approach If the distributor is not able to use the preferred approach, then the percentage of the gross capital dollars of the assets on which contributed capital was collected must be used to allocate capital contribution to t...

AI summary If a distributor cannot use the preferred approach, they must use the percentage of gross capital dollars of assets on which contributed capital was collected to allocate capital contributions. The distributor will assign contributions to assets outside the filing model and input results into the model's appropriate sheet.

6.6.5 Filing Question If a distributor uses the alternative approach, it must indicate the proportion of its total assets that contributed capital represents.

AI summary The filing question requires a distributor using an alternative approach to specify the proportion of its total assets that contributed capital represents.

9.3.2.1 Background The capital costs associated with metering vary according to the type of metering device installed. For the Residential and General Service rate classifications, the most common type of metering device is the electromech...

AI summary The text discusses how capital costs for metering are allocated across different rate classifications, emphasizing the use of a weighted number of meters that considers both the number of metering points and the capital costs of devices. Standard installed costs per meter are used for this allocation, and the approach is deemed reasonably applicable across distributors.

10.1 Introduction Some components of the revenue requirement cannot be directly allocated, or allocated to customer rate classifications by using the functionalization, categorization and allocation process described earlier. Instead other...

AI summary The document discusses methods for allocating revenue requirements when direct allocation is not feasible, including pro rata allocation and detailed analyses. It lists various expenses and capital expenditures that fall into this category, such as administrative expenses, working capital allowance, and conservation costs.

10.2.1 Background General Plant includes the capital cost and depreciation (if applicable) associated with buildings, leasehold improvements, land, land rights, general computer equipment, office furniture and transportation equipment. The...

AI summary General Plant refers to capital costs and depreciation related to non-distribution assets essential for a distributor's operations. These costs are typically allocated to customer classifications based on distribution net fixed assets. A stakeholder suggested that fixed assets without adjustment for contributed capital may better reflect the scope of assets supported by General Plant.

Primary and Secondary Conductors and Poles Cost Pools Calculation The costs set out in Appendix 12.2 will list the primary and secondary conductors and poles cost pool to be generated by the filing model for potential future reference. Ple...

AI summary The document outlines the calculation of cost pools for primary and secondary conductors and poles, referencing Appendix 12.2. It clarifies that sub-account references are for modeling purposes and not actual USoA references.

Proposal - Primary Conductors and Poles Cost Pools Calculation - a) Depreciation on sub-account 1830-4 Poles, Towers and Fixtures Primary - b) Depreciation on sub-account 1835-4 Overhead Conductors and Devices – Primary - c) Depreciation o...

AI summary The proposal outlines the calculation of cost pools for primary conductors and poles, including depreciation, operation and maintenance expenses, rental payments, and allocated general plant and administrative expenses associated with overhead and underground distribution lines and feeders.

NOVA SCOTIA POWER INC. CLASSIFICATION OF AVERAGE RATE BASE (1) (2) (3) (4) (5) (6) (7) (8) (9) (20) Working Capital & Deferred Charges/Credits: (21) CASH - FUEL 0 0 0 0 0 0 0 0 0 (22) CASH - OTHER (23) MAT. & SUPPLIES - FUEL 0 0 0 0 0 0 0...

AI summary The document presents a detailed breakdown of Nova Scotia Power Inc.'s working capital and deferred charges/credits, including cash, materials and supplies, and various deferred charges and credits related to financing, tax, pensions, and other categories. It also outlines totals for the distribution function and general property plant.

EXHIBIT 3 PAGE 1 OF 5 (1) TOTAL COMPANY (2) DOMESTIC (3) SMALL GENERAL (4) GENERAL (5) GENERAL LARGE (6) SMALL INDUSTRIAL (7) MEDIUM INDUSTRIAL (8) LARGE INDUSTRIAL (9) PHP (10) MUNICIPAL (11) UNMETERED (12) ALLOCATION FACTOR (13) GEN. PRO...

AI summary Exhibit 3 presents a table detailing various financial and operational metrics across different categories, including total company, domestic, small general, general, large, small industrial, medium industrial, large industrial, PHP, municipal, and unmetered. It includes data on general property plant, total plant in service, and working capital & deferred.

EXHIBIT 3 PAGE 2 OF 5 (1) TOTAL (2) (3) SMALL (4) (5) GENERAL (6) SMALL (7) MEDIUM (8) LARGE (9) (10) (11) (12) ALLOCATION COMPANY DOMESTIC GENERAL GENERAL LARGE INDUSTRIAL INDUSTRIAL INDUSTRIAL BUTU MUNICIPAL UNMETERED FACTOR (1) (2) Tran...

AI summary The document presents a table with various financial and operational data categories, including transmission costs, property plant values, working capital, and deferred charges. The table includes allocations across different company sizes and types, with various factors and codes associated with each category.

EXHIBIT 3 PAGE 3 OF 5 (1) TOTAL COMPANY (2) DOMESTIC (3) SMALL GENERAL (4) GENERAL (5) GENERAL LARGE (6) SMALL INDUSTRIAL (7) MEDIUM INDUSTRIAL (8) INDUSTRIAL LARGE (9) PHP (10) MUNICIPAL (11) UNMETERED (12) ALLOCATION FACTOR (13) GENERAL...

AI summary The table presents a breakdown of various categories related to general property plant and total plant in service, including different classifications of companies and charges/credits. It includes figures for working capital, deferred items, and allocation factors.

EXHIBIT 3 PAGE 5 OF 5 (1) TOTAL COMPANY (2) DOMESTIC (3) SMALL GENERAL (4) GENERAL (5) GENERAL LARGE (6) SMALL INDUSTRIAL (7) MEDIUM INDUSTRIAL (8) INDUSTRIAL LARGE (9) PHP (10) MUNICIPAL (11) UNMETERED (12) ALLOCATION FACTOR (24) (23) DIS...

AI summary The text presents a table with various financial and asset-related categories, including distribution plant, general property plant, working capital, and material and supplies. The table includes values for different customer classes and allocation factors, with some rows referencing exhibits and other notes.

ANALYSIS OF AVERAGE UNDERGROUND WIRE INVESTMENT (1) TOTAL PLANT (2) PRIMARY DEMAND (3) PRIMARY CUSTOMER (4) SECONDARY DEMAND (5) SECONDARY CUSTOMER (1) FACTORS 1.000 0.056 0.011 0.171 0.762 (2) TOTAL NET WIRE COST $61,773 $3,459 $679 $10,5...

AI summary The text presents a table analyzing the average underground wire investment, breaking down total plant, primary and secondary demand, and associated costs. The data includes factors and total net wire costs for different categories of demand and customers.

NOVA SCOTIA POWER INC. FUNCTIONALIZATION OF OPERATING EXPENSES FOR THE YEAR ENDING DECEMBER 31, 2026 (IN THOUSANDS OF DOLLARS) (1) TOTAL EXPENSES (2) PROD. EXPENSES (3) TRANS. EXPENSES (4) DIST. EXPENSES (5) RETAIL EXPENSES (6) DIRECT EXPE...

AI summary The document presents the functionalization of operating expenses for Nova Scotia Power Inc. for the year ending December 31, 2026, categorized into production, transmission, distribution, and retail expenses, with detailed breakdowns of fuel, purchased power, and maintenance costs.

EXHIBIT 3 PAGE 4 OF 5 (1) TOTAL (2) (3) SMALL (4) (5) GENERAL (6) SMALL (7) MEDIUM (8) INDUSTRIAL (9) (10) (11) (12) ALLOCATION COMPANY DOMESTIC GENERAL GENERAL LARGE INDUSTRIAL INDUSTRIAL LARGE PHP MUNICIPAL UNMETERED FACTOR (2) (1) Trans...

AI summary The document presents a table with financial data categorized under various headings, including transmission, property plant, and working capital. It includes entries for fuel, materials, and deferred charges, as well as allocation factors. The table lists monetary values for different categories, such as energy and transmission, with specific figures for the year 2026-2027.

ANALYSIS OF AVERAGE POLE INVESTMENT (1) TOTAL PLANT (2) PRIMARY DEMAND (3) PRIMARY CUSTOMER (4) SECONDARY DEMAND (5) SECONDARY CUSTOMER (1) FACTORS 1.000 0.150 0.486 0.110 0.254 (2) TOTAL NET POLE COST $441,257 $66,189 $214,451 $48,538 $11...

AI summary The document presents an analysis of average pole investment, with a table showing total plant, primary and secondary demand, and associated costs. The table includes factors and total net pole costs for different categories.

ANALYSIS OF AVERAGE OVERHEAD WIRE INVESTMENT (1) TOTAL PLANT (2) PRIMARY DEMAND (3) PRIMARY CUSTOMER (4) SECONDARY DEMAND (5) SECONDARY CUSTOMER (1) FACTORS 1.000 0.493 0.302 0.034 0.171 (2) TOTAL NET WIRE COST $188,928 $93,141 $57,056 $6,...

AI summary The text presents an analysis of average overhead wire investment, including factors and total net wire costs across different categories such as total plant, primary demand, and secondary demand. The data is presented in a table format, but the specific context or rationale behind the investment is not elaborated.

(IN THOUSANDS OF DOLLARS) (1) TOTAL EXPENSES (2) PROD. EXPENSES (3) TRANS. EXPENSES (4) DIST. EXPENSES (5) RETAIL EXPENSES (6) DIRECT EXPENSES (24) CUSTOMER OPERATIONS: (25) (26) TRANSMISSION & DISTRIBUTION 83,713.491 0 21,094 59,631 0 2,9...

AI summary The document presents a detailed breakdown of expenses categorized into various operational and corporate groups, including transmission and distribution, customer service, legal services, regulatory affairs, and procurement. It outlines total operating and general expenses, as well as other expenses, providing a comprehensive overview of financial allocations.

FOR THE YEAR ENDING DECEMBER 31, 2027 Fuel Operating Capital Return Total Total Cost Units Sold Demand Energy Customer

AI summary This document provides a summary of financial and operational data for the year ending December 31, 2027, including fuel costs, operating expenses, capital expenditures, return on investment, total costs, units sold, demand, energy, and customer-related metrics.

REVENUE TO EXPENSE COMPARISON (1) (2) (3) (4) (5) (6) (7) (17) Gas Enviromental & Fuel Conversion - CWIP (18) LM6000 PLANT (19) LM6000 PLANT - CWIP (20) LM600 ENVIRONMENTAL & FUEL CONVERSION PLANT (21) LM600 Enviromental & Fuel Conversion...

AI summary The document presents a revenue to expense comparison table, including figures related to generation plants, CWIP, transmission assets, and other infrastructure costs, with various line items and subtotals listed for different years and categories.

DETAILED LISTING OF C.O.S.S. INPUT INFORMATION FOR THE YEAR ENDING DECEMBER 31, 2027 (227) POWER PRODUCTION - FUEL (228) POWER PRODUCTION - OPERATING & MAINT. 366,094.3 (295) DISTRIBUTION TOTAL 99,661.9 0.000 0.0 99,662 10,095.7 89,566 89,...

AI summary The document presents a detailed listing of C.O.S.S. input information for the year ending December 31, 2027, including financial data related to power production, distribution, transmission, and depreciation and accretion. It includes figures for operating and maintenance costs, interest charges, corporate taxes, and other financial metrics.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ - ŝŝ͘ ǀŽŶEŽ͘ϮĞǀĞůŽƉŵĞŶƚ - ŝŝŝ͘ ,ŽůůŽǁƌŝĚŐĞĞǀĞůŽƉŵĞŶƚ - ŝǀ͘ >ƵŵƐĚĞŶĞǀĞůŽƉŵĞŶƚ - ǀ͘ ,ĞůůƐ'ĂƚĞ͕EŽƐ͘ϭĂŶĚϮĞǀĞůŽƉŵĞŶƚƐ - ǀŝ͘ EŝĐƚĂƵdžĞǀĞůŽƉŵĞŶƚ - ǀŝŝ...

AI summary The document contains a list of various categories and subcategories related to energy and utility management, including topics such as capital expenditures, demand-side management, and energy efficiency programs. It also includes references to regulatory processes and legal frameworks in Nova Scotia.

NOVA SCOTIA POWER INC. - HYDRO PRODUCTION SITE DECOMMISSIONING ESTIMATE SUMMARY FOR ASSET RETIREMENT OBLIGATIONS (ARO) STUDY (By System) • Komatsu D39 Dozer plus transport to site • Pick-up truck A.W. Leil Cranes • 18 ton boom truck includ...

AI summary The document outlines a list of equipment and contractors involved in the decommissioning process of a hydro production site, including machinery, transportation, and labor costs. It also mentions disposal site tipping fees, which are relevant to the overall cost estimation for asset retirement obligations.

$695,783.20 1. Transmission cable, substations and related transformers to be removed by others in preparation for general demolition. 2. HST is additional to stated estimated costs.

AI summary The text provides a cost estimate of $695,783.20 for the removal of transmission cable, substations, and related transformers by others in preparation for general demolition, with HST being an additional cost.

^ŝƚĞĞĐŽŵŵŝƐƐŝŽŶŝŶŐƐƚŝŵĂƚĞ^ƵŵŵĂƌLJĨŽƌƐƐĞƚZĞƚŝƌĞŵĞŶƚKďůŝŐĂƚŝŽŶƐ;ZKͿ^ƚƵĚLJ 163,+<'526<67(0 163,+<'52'(9(/230(17$5($ 'HFRPPLVVLRQLQJ &RVWV'HYHORSP HQW 'HFRPPLVVLRQLQJ &RVWV+\GUR6\VWHP $YRQ5LYHU+\GUR6\VWHP $YRQ1R'HYHORSPHQW $YRQ1R'HYHORSPHQW %H...

AI summary The document presents a table outlining decommissioning costs associated with various hydro systems in Nova Scotia, including specific projects such as the Wreck Cove Hydro Electric Generation System and decommissioning costs for different river systems. The note indicates that detailed summaries of these costs can be found in individual development summaries.

NON-CONFIDENTIAL 1 Undertaking U-21: 2 3 To provide Nova Scotia Power's actual level of capital investment in '23 and '24 as compared 4 to what was included in the '22 GRA compliance filing 5 6 Response U-21: 7 8 Actual level of capital in...

AI summary Nova Scotia Power provided actual capital investment levels for 2023 and 2024, which were lower than the forecasted amounts included in the 2022 GRA compliance filing. The reduced spending in 2023 is primarily due to the deferral of investment in the ECEI Energy Storage project to 2024.

NON-CONFIDENTIAL 1 Undertaking U-22: 2 3 To provide information on why the two LM6000 projects, 191332 Life Extension and 4 1914433 Engine Refurbishment, were not included in the list in the response to Board IR-92. 5 6 Response U-22: 7 8...

AI summary NS Power explains that two LM6000 projects were not included in the response to Board IR-92 because they were either completed before the GRA test period or not explicitly detailed in the GRA forecast at the time.

Summary Unnamed: 0 NOVA SCOTIA POWER, INC. Unnamed: 2 Unnamed: 3 Unnamed: 4 Unnamed: 5 Unnamed: 6 Unnamed: 7 Unnamed: 8 Unnamed: 9 Unnamed: 10 Unnamed: 11 Unnamed: 12 Unnamed: 13 Unnamed: 14 Unnamed: 15 Unnamed: 16 Unnamed: 17 Unnamed: 18...

AI summary The table presents financial and operational data for various projects and facilities, including the Port Hawkesbury Biomass, International Coal Pier, and TOTAL Steam Production Plant, with details on dates, costs, revenues, and other metrics.

NON-CONFIDENTIAL 1 Undertaking U-16: 2 3 To advise why preferred share dividend amounts cannot be excluded from the regulated 4 financial statements or why they're not being excluded. 5 6 Response U-16: 7 8 In the Board's decision in relat...

AI summary The response to Undertaking U-16 explains that preferred share dividend amounts are not excluded from regulated financial statements because they are related to a Board-approved capital item (BESS Project) and not unregulated activities. This is in contrast to Part VI.1 tax deductions, which were excluded due to unregulated transactions with Emera.

development shall not include (i) any capital expenditure made in respect of the acquisition of a building or a leasehold interest therein, other than a prescribed special-purpose building, (ii) any outlay or expense made or incurred for t...

AI summary The text outlines specific exclusions from development, including capital expenditures on buildings, leasehold interests, and payments to certain entities for building-related purposes. It also mentions the repeal of subsections 37(14) and (15) of the Act and the application of the provisions to property acquired or lease costs incurred on or after December 16, 2024.

to the taxpayer shall be computed as if no amount were added because of section 21, and (ii) the capital cost to the taxpayer is determined without reference to subsections 13(7.1) and 13(7.4). (14) The portion of subsection 127(11.6) of t...

AI summary This text outlines amendments to the Act regarding the computation of capital costs and expenditures for taxpayers, including adjustments to how capital costs are determined and the application of these changes to specific dates.

aph (a) is replaced by the follow- même loi précédant l’alinéa a) est remplacé par ing: ce qui suit : Deemed capital cost of certain property Coût en capital présumé de certains biens (7.1) For the purposes of this Act, where section 80 ap...

AI summary The text discusses the deemed capital cost of certain property under the Act, specifically addressing situations where section 80 has reduced the capital cost to a taxpayer or where a taxpayer has received assistance from a government or public authority in relation to depreciable property.

wing after subsection (7.5): jonction, après le paragraphe (7.5), de ce qui suit : Capital expenditures — Classes 59 and 60 Dépenses en capital — catégories 59 et 60 (7.6) If a taxpayer has incurred an expenditure on ac- (7.6) Si un contri...

AI summary This section outlines the treatment of capital expenditures under Classes 59 and 60 in the context of tax regulations. It states that if a taxpayer incurs a capital expenditure, it is deemed as acquiring a property within these classes at a cost equal to the expenditure amount at the time it is incurred.

paragraphe (1), le coût en capital d’un bien de technolo- gie propre, à la fois : 2021-2022-2023-2024 161 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 180 of 546 Chapter 15: Fall Economic Statement Implementation Act,...

AI summary The text outlines a provision related to the capital cost of a clean technology asset, specifying that certain amounts should not be included in the calculation for tax purposes if previously deducted by any person.

DATE FILED: April 7, 2026 Page 3 of 28 1 2.0 COMPLIANCE FILING COMPONENTS 2 3 In addition to the information specifically addressed below and in the GRA decision, NS Power is 4 providing the following updated documents in support of this c...

AI summary This compliance filing by NS Power includes updated documents such as appendices, attachments, and financial statements to support the filing. The documents cover various components like OATT rates, distribution tariff calculations, and financial data related to earnings, balance sheets, and capital costs.

FO-13 – Average Rate Base – Deferred Charges and Credits 1  RB-01 – Plant In Service Continuity Schedule 2  RB 02-16 – Rate Base Table 3  DA-02 - Accumulated Reserve for Depreciation 4  DA-03 – Amortization Expense 5  OR-01 – Proof of...

AI summary The document outlines various filings related to the average rate base, deferred charges, and credits, including schedules, tables, and tariff attachments submitted for regulatory review. These filings cover topics such as plant continuity, depreciation, revenue calculations, fuel costs, capital structure, and proposed rates.

SPECIAL CONDITIONS - (1) Metering will normally be at the low voltage side of the transformer. Should the customer's requirements make it necessary for the Company to provide primary metering, then the customer will be required to make a c...

AI summary The special conditions outline requirements for metering and service provisions. Customers requiring primary metering must contribute to the additional cost, and adjustments to kWh readings are specified. Non-standard service provisions may require customers to own transformers typically provided by the company.

(1) PRODUCTION PLANT (2) (3) STEAM $847,049 $847,048.6 $0 $0 $0 $0 (4) HYDRO 699,665 $699,665.5 0 0 0 0 (5) WIND 163,771 $163,770.9 0 0 0 0 (6) SOLAR 1,285 $0.0 $0.0 $0.0 $0.0 1,285 (7) LM6000 93,737 $93,737.5 0 0 0 0 (8) GAS TURBINE - OTH...

AI summary The text presents a detailed breakdown of production plant costs and transmission plant costs, showing figures for various energy sources such as steam, hydro, wind, solar, and others, along with total production plant costs and transmission costs. The data includes specific monetary values and differences between actual and estimated costs.

70,426 0 0 70,426 0 0 (32) STREET LIGHTING 35,211 0 0 35,211 0 0 (33) (34) TOTAL DIST. PLANT 1,550,189 0 0 1,550,189 0 0 (35) (36) SUB-TOTAL DIST. PLANT 4,463,196 2,091,705 820,016 1,550,189 0 1,285 (37) (38) SUB-TOTAL TRANSMISSION AND DIS...

AI summary The text presents a table of financial and asset data, including figures related to distribution plant, transmission and distribution, and general property plant, with values for different categories and years.

tal & Deferred Charges/Credits (50) (51) CASH - FUEL 0 0 0 0 0 0 (52) CASH - OTHER 162,574 0 0 0 162,574 0 (53) MAT. & SUP. - FUEL 222,761 222,761 0 0 0 0 (54) MAT. & SUP. - OTHER 75,610 34,225 13,868 26,859 658 0 (55) DEF. CHG. - Financin...

AI summary The text presents a table of cash and deferred charges/credits, including entries for fuel, other expenses, and various deferrals related to financing, tax, pensions, and fuel deferral. The data shows amounts across different categories and years.

1,655 0 6 0 (62) DEF. CR. - ARO Steam -81,338 -81,338 0 0 0 0 (63) DEF. CR. - ARO Hydro -40,430 -40,430 0 0 0 0 (64) DEF. CR. - ARO Wind -16,505 -16,505 0 0 0 0 (65) DEF. CR. - ARO LM6000 -1,393 -1,393 0 0 0 0 (65) DEF. CR. - ARO CT -6,244...

AI summary The text presents a financial summary of asset retirement obligations (ARO) and related receivables, including entries for steam, hydro, wind, and other assets, as well as cost of removal liability and contract receivables, with a total working capital of 623,811.

(1) RETAIL FUNCTION (2) (3) DISTRIBUTION PLANT: (4) SERVICES 0 0 0 0 (5) METERS 0 0 0 0 (6) TOTAL RETAIL PLANT 0 0 0 0 (7) (8) GENERAL PROPERTY PLANT 42,983 0 0 42,983 (9) TOTAL PLANT IN SERVICE 42,983 0 0 42,983 (10) (11) Working Capital...

AI summary The text presents a financial summary of the retail function, including distribution plant, general property plant, working capital, and deferred charges. It lists various line items such as cash, materials and supplies, and deferred charges, along with their respective values. The total retail function is reported as $206,880, with a total average rate base of $5,563,003.

(1) GENERATION FUNCTION (2) (3) STEAM PLANT $847,049 $0 $0 ($463,743) $463,743 $0 $383,306 $463,743 $0 (4) HYDRO PLANT 699,665 0 0 -383,053 383,053 0 316,612 383,053 0 (5) WIND PLANT 163,771 0 0 -89,661 89,661 0 74,110 89,661 0 (6) LM6000...

AI summary The document presents a financial summary of various generation plants, including steam, hydro, wind, and gas turbine plants, along with generation batteries and transmission costs. It includes figures for expenses, adjustments, and total plant in service.

68 0 65,188 78,868 0 (13) TOTAL PLANT IN SERVICE 2,235,761 0 0 -1,224,036 1,224,036 0 1,011,726 1,224,036 0 (14) (15) Rate Base Factors Applicable to Base Cost of Fuel Classification 45.252% 54.748% (16) (17) Working Capital & Deferred Cha...

AI summary The text presents a table with financial data related to total plant in service, rate base factors, and working capital and deferred charges/credits. It includes figures for fuel and other categories, as well as percentages and monetary values.

-6,244 0 0 0 0 0 -6,244 0 0 (33) DEF. CR. - Other -29,365 0 0 16,077 -16,077 0 -13,288 -16,077 0 (34) DEF. CR. - COST OF REMOVAL LIABILITY (COR) 10,587 0 0 -5,796 5,796 0 4,791 5,796 0 (35) CONTRACT RECEIVABLE 0 93,310 0 0 0 0 0 93,310 0 (...

AI summary The text presents a series of financial line items and balances, including deferred credits, cost of removal liability, contract receivables, and subtotals related to generation and transmission functions. The data appears to be part of a financial statement or regulatory filing.

(1) Transmission - EHV and HV combined 820,016 0 0 0 0 0 820,016 0 0 (2) (3) GENERAL PROPERTY PLANT 85,899 0 0 0 0 0 85,899 0 0 (4) TOTAL PLANT IN SERVICE 905,915 0 0 0 0 0 905,915 0 0 (5) (6) Working Capital & Deferred Charges/Credits: (7...

AI summary The document provides a financial overview of transmission infrastructure, general property plant, and working capital, including deferred charges related to financing, tax, pension, and other categories. All values listed are zero except for specific line items such as materials and supplies, and deferred charges.

0 0 0 0 0 70,426 (14) STREET LIGHTING 35,211 0 0 0 0 0 35,211 0 0 (15) TOTAL DISTRIBUTION PLANT 924,817 0 625,372 0 0 0 924,817 0 625,372 (16) (17) GENERAL PROPERTY PLANT 121,911 0 82,437 0 0 0 121,911 0 82,437 (18) TOTAL PLANT IN SERVICE...

AI summary The text presents a financial table detailing various asset categories, including distribution plant, general property plant, and working capital, along with deferred charges and credits. It provides numerical data for different line items, such as street lighting, cash, materials and supplies, and pension-related deferred charges.

0 0 0 0 (41) (42) GENERAL PROPERTY PLANT 0 0 42,983 0 0 0 0 0 42,983 (43) TOTAL PLANT IN SERVICE 0 0 42,983 0 0 0 0 0 42,983 (44) (45) Working Capital & Deferred Charges/Credits: (46) CASH - FUEL 0 0 0 0 0 0 0 0 0 (47) CASH - OTHER 0 0 162...

AI summary The text presents a financial table showing the general property plant and working capital & deferred charges/credits for a specific period, with detailed line items such as cash, materials and supplies, and deferred charges categorized by type.

22,181 34,431 28,383 13,119 4,402 (12) (13) GEN. PROPERTY PLANT 65,188 41,878 2,138 11,601 1,322 1,188 1,528 2,371 1,955 903 303 P-7 (14) TOTAL PLANT IN SERVICE 1,011,726 649,950 33,180 180,052 20,524 18,444 23,709 36,802 30,338 14,022 4,7...

AI summary The text presents a series of financial figures related to property, plant, and working capital, including deferred charges and credits. It outlines various line items such as cash, materials and supplies, and deferred charges related to financing, tax, and pension. These figures appear to be part of a larger financial statement or accounting report.

Transmission - EHV and HV (1) combined 820,016 526,793 26,893 145,934 16,635 14,949 19,216 29,828 24,589 11,365 3,814 D-3A (2) (3) GENERAL PROPERTY PLANT 85,899 55,183 2,817 15,287 1,743 1,566 2,013 3,125 2,576 1,191 399 P-8B (4) TOTAL PLA...

AI summary The text presents financial and operational data related to transmission infrastructure, including property plant values, working capital, and deferred charges and credits, with various line items categorized under different accounts and references.

4,435 (22) (23) DISTRIBUTION FUNCTION (24) DISTRIBUTION PLANT - Non Streetlight 889,606 608,127 33,734 175,236 10,761 19,612 21,887 9,401 0 2,558 8,289 EXH. 3A (25) DISTRIBUTION PLANT - Streetlight 35,211 0 0 0 0 0 0 0 0 0 35,211 EXH. 3A (...

AI summary The text presents financial and operational data related to distribution plant costs, including non-streetlight and streetlight distribution plant figures, as well as general property plant and working capital charges. It includes various line items and exhibits referenced for detailed breakdowns.

3 38,731 242,483 38,151 27,824 47,405 73,164 84,086 13,023 8,436 (12) (13) GENERAL PROPERTY PLANT 78,868 39,384 2,667 16,700 2,627 1,916 3,265 5,039 5,791 897 581 P-10 (14) TOTAL PLANT IN SERVICE 1,224,036 611,247 41,399 259,182 40,779 29,...

AI summary The text presents a table with numerical data related to property plant, working capital, and deferred charges/credits for a regulatory proceeding. It includes values for different categories such as fuel, other materials and supplies, and tax-related deferred charges.

0 0 0 0 0 0 0 0 0 0 0 P-11A (50) DEF. CHG. - Financing 0 0 0 0 0 0 0 0 0 0 0 P-11A (51) DEF. CHG. - Tax 0 0 0 0 0 0 0 0 0 0 0 P-11A (52) DEF. CHG. - Pension 0 0 0 0 0 0 0 0 0 0 0 O-5A (53) DEF. CHG. - Other 0 0 0 0 0 0 0 0 0 0 0 P-11A (54)...

AI summary The text presents a series of line items related to deferred charges, including financing, tax, pension, and asset retirement obligations, with associated codes and values. The content is partially redacted, indicating confidential information has been removed.

(1) Transmission - EHV and HV combined 0 0 0 0 0 0 0 0 0 0 0 E-1A (2) (3) GENERAL PROPERTY PLANT 0 0 0 0 0 0 0 0 0 0 0 P-11B (4) TOTAL PLANT IN SERVICE 0 0 0 0 0 0 0 0 0 0 0 (5) Working Capital & Deferred (6) Charges/Credits: (7) CASH - FU...

AI summary The text presents a table with various line items related to transmission, general property plant, and working capital, all showing zero values. These entries appear to be part of a financial or asset reporting structure, possibly related to regulatory filings or utility accounting.

(1) CUST. CLASSIFICATION (2) (3) DISTRIBUTION FUNCTION (4) DISTRIBUTION PLANT $625,372 $558,091 $31,761 $21,759 $45 $4,115 $358 $79 $2 $12 $9,151 EXH. 3A (5) (6) GEN. PROPERTY PLANT 82,437 73,568 4,187 2,868 6 542 47 10 0 2 1,206 P-12 (7)...

AI summary The text provides a detailed breakdown of various financial and asset-related classifications and figures, including distribution plant, generation property plant, and working capital components such as cash, materials, and deferred charges. These figures are associated with different exhibit and page references.

(1) DEMAND (2) (3) LAND $2,664 $1,779 $98 $518 $55 $58 $70 $48 $0 $13 $24 P-3 (4) EASEMENTS & SURVEY 93,631 62,529 3,450 18,209 1,936 2,026 2,476 1,692 0 460 852 P-3 (5) OTHER 9,476 6,328 349 1,843 196 205 251 171 0 47 86 P-3 (6) SUBSTATIO...

AI summary The text presents a detailed breakdown of various costs related to land, easements, substation infrastructure, poles, overhead and underground lines, line transformers, and services, with associated figures and references to exhibits and pages.

0 (12) METERS 0 0 0 0 0 0 0 0 0 0 0 (13) STREET LIGHTING 35,211 0 0 0 0 0 0 0 0 0 35,211 DIRECT (14) (15) TOTAL DEMAND 924,817 608,127 33,734 175,236 10,761 19,612 21,887 9,401 0 2,558 43,500 (16) (17) CUSTOMER (18) (19) LAND 2,388 2,163 1...

AI summary The text presents a table of costs categorized under various headings such as meters, street lighting, and total demand, with numerical values and notes indicating direct and other classifications. It includes line items related to land, easements, substations, poles, overhead and underground lines, with some entries labeled as 'DIRECT' or referencing exhibits.

19 2,849 ( 5) GENERAL LARGE 4,517 4,153 364 ( 6) SMALL INDUSTRIAL 3,936 3,620 316 ( 7) MEDIUM INDUSTRIAL 5,002 4,599 403 ( 8) LARGE INDUSTRIAL 4,206 3,911 295 ( 9) PHP 0 0 0 (10) MUNICIPAL 1,074 987 87 (11) UNMETERED 1,655 1,523 132 (12) T...

AI summary The text presents a table with various categories and their associated figures, including total plant, primary demand, primary customer, secondary demand, and secondary customer factors. The data is related to the analysis of average pole investment for the year ending December 31, 2026, by Nova Scotia Power Inc.

DEMAND CUSTOMER DEMAND CUSTOMER (1) FACTORS 1.000 0.165 0.471 0.122 0.242 (2) TOTAL NET WIRE COST $399,387 $65,894 $188,116 $48,657 $96,720 (3) FACTORS bfr Adjustment 1.000 0.150 0.486 0.110 0.254 (4) ADJUSTMENT before Zero Cap Restriction...

AI summary The text presents financial data related to demand and customer factors, including net wire costs and adjustments before and after a zero cap restriction. It includes an allocation of average pole investment for Nova Scotia Power Inc. for the year ending December 31, 2026.

GENERAL 18,801 2,401 9,563 1,918 4,919 ( 3) GENERAL 28,463 12,776 3,917 9,756 2,015 ( 4) GENERAL LARGE 1,639 1,632 7 0 0 ( 5) SMALL INDUSTRIAL 3,627 1,418 732 1,101 377 ( 6) MEDIUM INDUSTRIAL 2,938 1,806 61 1,071 0 ( 7) LARGE INDUSTRIAL 1,...

AI summary The text presents a table with financial data related to various categories, including general, large, small, medium, and large industrial, along with municipal and unmetered categories. It also mentions an analysis of average overhead wire investment for Nova Scotia Power Inc. for the year ending December 31, 2026.

ANALYSIS OF AVERAGE OVERHEAD WIRE INVESTMENT FOR THE YEAR ENDING DECEMBER 31, 2026 (IN THOUSANDS OF DOLLARS) (1) (2) (3) (4) (5) TOTAL PRIMARY PRIMARY SECONDARY SECONDARY PLANT DEMAND CUSTOMER DEMAND CUSTOMER (1) FACTORS 1.000 0.542 0.253...

AI summary The document presents an analysis of average overhead wire investment for the year ending December 31, 2026, with detailed breakdowns of total and primary/secondary demand and customer-related costs, including adjustments before and after a zero cap restriction.

INC. ALLOCATION OF AVERAGE OVERHEAD WIRE INVESTMENT FOR THE YEAR ENDING DECEMBER 31, 2026 (IN THOUSANDS OF DOLLARS) (1) (2) (3) (4) (5) TOTAL PRIMARY PRIMARY SECONDARY SECONDARY PLANT DEMAND CUSTOMER DEMAND CUSTOMER ( 1) DOMESTIC $132,773...

AI summary The document presents the allocation of average overhead wire investment for the year ending December 31, 2026, categorized by different plant types and customer segments. It includes primary and secondary demand and customer allocations, with total figures provided for each category.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2026-2027 GRA Compliance Filing - SR-01 Attachment 2 Page 21 of 100 EXHIBIT 3G NOVA SCOTIA POWER INC. ANALYSIS OF AVERAGE UNDERGROUND WIRE INVESTMENT FOR THE YEAR ENDING DECEMBER 31, 202...

AI summary The document presents an analysis of average underground wire investment for Nova Scotia Power Inc. for the year ending December 31, 2026, including various cost factors, adjustments, and restrictions related to wire investments.

0.018 (0.018) REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2026-2027 GRA Compliance Filing - SR-01 Attachment 2 Page 22 of 100 EXHIBIT 3H NOVA SCOTIA POWER INC. ALLOCATION OF AVERAGE UNDERGROUND WIRE INVESTMENT FOR THE YEAR ENDING...

AI summary The document presents an allocation of average underground wire investment for Nova Scotia Power Inc. for the year ending December 31, 2026, categorized by different types of plant and customer segments, with amounts listed in thousands of dollars.

- 1,538 (14) HYDRO OPERATING & MAINT. 1,879 1,830 - - - 49 (15) WIND - OPERATING & MAINT. 8,365 8,147 - - - 218 (16) SOLAR - OPERATING & MAINT. 130 - 130 (16) BIOMASS - OPERATING & MAINT. 6,737 6,561 - - - 175 (17) LM6000 OPERATING & MAINT...

AI summary The text presents a list of operating and maintenance costs for various energy generation sources, including hydro, wind, solar, biomass, and combustion turbines, along with fuel procurement and transmission costs, totaling $86,453.2 in power production costs.

ACK OFFICE - (16) (17) TOTAL FINANCE 7,350 5,000 640 1,416 106 189 (18) (19) ENTERPRISE SERVICES (20) PROCUREMENT & FACILITIES 12,284 2,996 2,996 2,996 2,996 298 F - 5 (21) INFORMATION TECHNOLOGY 46,049 19,238 5,324 12,901 7,473 1,114 F -...

AI summary The document presents a financial summary with various expense categories, including procurement, information technology, human resources, and other expenses, along with totals for different divisions and periods. It includes figures for advocacy expenses and deferrals related to FCR.

- - - - - - (37) (38) FCR DEFERRAL - - - - - - (39) (40) OTHER EXPENSES - - - - - - (41) (42) CAPITAL RELATED EXPENSES (43) (44) GRANTS IN LIEU OF TAXES 50,476 22,260 9,019 17,469 428 1,301 (45) DEPRECIATION : (46) STEAM 47,964 46,715 - -...

AI summary The text presents a financial table listing various expense categories, including fuel-cost-recovery deferral, other expenses, capital-related expenses, and depreciation across different energy generation sources such as steam, hydro, wind, solar, and gas turbines. It includes specific figures for grants in lieu of taxes and depreciation amounts for various assets.

0.0% 0.0% 0.0% (21) GENERATION BATTERIES - - - - - 0.0% 0.0% 0.0% 0.0% (22) RADIAL TO GENERATION TRANS. 1,372 1,372 - - - 0.3% 0.0% 0.0% 0.0% (23) TOTAL POWER PRODUCTION 82,703 82,703 - - - 19.1% 0.0% 0.0% 0.0% (24) (25) CORPORATE GROUPS (...

AI summary The text presents a financial breakdown of various categories including generation batteries, radial to generation transmission, total power production, and corporate groups such as executive management, legal services, and external relations, with percentages and monetary values listed.

(42) DISTRIBUTION: (43) SUBSTATIONS 1,444 - - 1,444 - 0.0% 0.0% 0.4% 0.0% (44) OVERHEAD LINES BEFORE STORM EXPENSES 32,969 - - 32,969 - 0.0% 0.0% 10.0% 0.0% OVERHEAD LINES STORM EXPENSES 21,979 - - 21,979 - 0.0% 0.0% 6.7% 0.0% (45) UNDERGR...

AI summary The text presents a detailed breakdown of distribution costs, including substation, overhead lines, underground lines, and street lighting expenses. It shows figures for 2020 and 2021, along with percentages and variances, highlighting a significant increase in overhead line storm expenses.

(1) REGULATORY AFFAIRS (2) Advocacy Expense 1,837 1,367 132 309 29 0.3% 0.1% 0.1% 0.0% (3) Other Expenses 7,212 5,367 517 1,212 115 1.2% 0.4% 0.4% 0.2% (4) Subtotal 9,048 6,734 649 1,521 144 1.6% 0.5% 0.5% 0.2% (5) (6) FINANCE GROUP (7) IN...

AI summary The text presents a financial breakdown of expenses under the Regulatory Affairs and Finance Group sections, including Advocacy, Internal Audit, Investor Relations, and other corporate functions, with comparisons across different time periods and percentages.

S 9,000.2 3,760 1,041 2,521 1,461 218 (40) TOTAL CORPORATE GROUPS 103,848.8 51,154 13,029 24,004 13,092 2,571 (41) (42) GENERATION SERVICES 11,909.6 11,600 0 0 0 310 (43) OTHER EXPENSES 7,377.5 3,082 853 2,067 1,197 178 (44) DIRECT ADMIN....

AI summary The text presents a table of financial figures related to corporate groups, generation services, and other expenses, including depreciation and grants in lieu of taxes. It includes various line items such as total corporate groups, generation services, and depreciation for steam and hydro. The data appears to be part of a regulatory proceeding related to financial reporting and expense categorization.

DISTRIBUTION FUNCTION (1) Before Streetlights: (2) SUBSTATIONS $2,078 $2,078 $0 - (3) OVERHEAD LINES Before Storm Expense $54,323 $13,607 $0 40,716.2 (4) OVERHEAD LINES Storm Expense 24,747 9,071 0 15,675.3 (5) UNDERGROUND LINES 814 234 0...

AI summary The text presents a detailed breakdown of distribution function costs, including expenses for substations, overhead and underground lines, meters, and depreciation for various distribution assets. It outlines financial figures for different categories, indicating amounts spent and depreciation values.

0 0 0 0 0 0 0 0 0 C-7 (23) METER DATA SERVICES 716.827 45 65 114 104 75 78 111 3 121 0 O-16 (24) PAYMENT SERVICES 0.000 0 0 0 0 0 0 0 0 0 0 C-7 (25) CREDIT SERVICES 4,965.923 4,171 118 608 0 69 0 0 0 0 0 EXH 6C (26) MARKETING & SALES 0.000...

AI summary The document presents a table with various expense categories and their associated financial figures, including Meter Data Services, Payment Services, Credit Services, and others, along with references to exhibits and orders. It outlines costs and revenues across different line items and periods.

(1) COSTS BY FUNCTIONAL AREAS (2) Generation (3) FAM-related $909,901 $476,943 $30,612 $187,438 $28,317 $21,228 $34,846 $53,804 $59,748 $10,696 $6,270 (4) Non-FAM-related 433,465 254,554 15,091 88,729 12,286 9,729 14,900 11,874 17,929 5,62...

AI summary The text presents a detailed breakdown of costs by functional areas, including Generation, Transmission, and Operating Costs, with specific figures for FAM-related and Non-FAM-related expenses, as well as Non-Operating Revenue Credits across multiple years and categories.

uirement 382,310 (6) kW 3 CP 222,264 (7) kW 12 NCP 748,952 (8) Unit Cost (cents/kW.h) 8.661 1.351 1.998 0.841 4.190 12.851 Transmission/Distribution (9) Delivery Trans.(Eng) - HV 0 0 $0 $0 $0 $0 $0 353,434 0.000 (10) Delivery Trans.(Eng) -...

AI summary The text presents a detailed breakdown of costs related to transmission and distribution, including line items for high voltage (HV) and extra high voltage (EHV) transmission, demand-related delivery, and customer delivery costs. It outlines specific figures for different categories and includes unit costs and totals.

. (Customer) 95 0 3 9 3 15 15 434 $34.864 (16) Total Distribution 11,313 0 304 1,089 398 1,790 1,789.93 $1.541 - $34.864 (17) Total Transmission/Distribution $46,001 $0 $1,606 $3,517 $1,617 $6,740 $6,740 $5.840 - $34.864 (18) kW.h Sold 697...

AI summary The text presents a table with financial and operational data related to distribution, transmission, and customer activities, including costs, quantities, and revenue figures. It includes entries such as kW.h sold, unit costs, customer-related expenses, and marketing costs.

0 0 0 32 P-12 (38) DISTRIBUTION - Line Transformers 0 0 0 0 0 0 0 0 0 0 0 P-12 (39) DISTRIBUTION -Services 4,053 3,617 206 141 0 27 2 1 0 0 59 P-12 (40) DISTRIBUTION -Meters 7,940 7,085 403 276 1 52 5 1 0 0 116 P-12 (41) GENERAL PROPERTY 1...

AI summary The document presents a detailed breakdown of distribution and retail function costs, including line transformers, services, meters, and general property expenses, with specific figures for various line items and classifications, such as P-12 and P-13.

100.00% 49.94% 3.38% 21.17% 3.33% 2.43% 4.14% 6.39% 7.34% 1.14% 0.74% P-10 (25) ENERGY - TRANS. PLT. - HV $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 (26) % RESPONSIBILITY 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% P-11A (27) E...

AI summary The text presents a series of percentages and financial figures related to various categories, including energy transmission plants, customer distribution plants, and retail plants. The data reflects responsibility percentages and financial allocations, with some categories showing non-zero values while others remain at zero.

"Input Data" tab Adjustments Locati Cell 2025 2026 2027 Category Label Share on Category Label Share Location (1) Operating Expenses (2) O&M Expenses (3) Reliability Implementation (Energy Delivery) - $2,000,000; (2,000,000) (2,000,000) TR...

AI summary The text presents a table of operating and other expenses for the years 2025 to 2027, including items such as Reliability Implementation, Communications and Public Affairs, Grid Modernization, and Regulatory Amortization, with associated costs and percentages allocated to different categories.

(10) Regulatory Amortization (677,610) (677,610) Regulatory Amort. 100.0% K322 (11) Fuel Expense (1,808,772) (1,729,291) ML - NS Block (BCF COSS) 100.0% B8..M8 and B35..M37 (12) FAM Deferral Interest 328,135 343,365 Interest & Other Exp 10...

AI summary The text provides a summary of various financial and regulatory expenses, including regulatory amortization, fuel expense, FAM deferral interest, AMI opt-out charges, and income tax. It outlines figures related to operating expenses and the rate base, indicating financial performance and regulatory considerations.

1,910,937 1,836,360 (26) (27) ECEI Batteries Plant 145,582 119,318 171,846 (28) ECEI Batteries CWIP 15,185 30,370 -0 (29) Generation-related Trans Assets Plant 58,575 58,575 58,575 (30) Generation-related Trans Assets CWIP 0 0 0 (31) Subto...

AI summary The document presents a series of financial figures related to various assets and projects, including the ECEI Batteries Plant, Generation-related Trans Assets Plant, and others. It includes costs, capital works in progress (CWIP), and subtotals, providing a detailed breakdown of expenditures.

(37) T&D Adj. Average RB before T&D Adj. (38) TRANSMISSION PLANT net of ECEI batteries and Gen-related Transmission Assets 720,524 ($176,727) -34,743 897,251 827,837 966,664 (39) TRANSMISSION PLANT - CWIP net of ECEI batteries and Gen-rela...

AI summary The text presents a table with financial figures related to transmission and distribution plant values, including adjustments, capital work-in-progress (CWIP), and average rate base (RB) before adjustments. Key figures include net transmission plant values, CWIP, and average distribution rate base before CWIP for different years.

911 1,021 801 $368,345 350,449 386,240 (54) DIST.PLT.- SERVICES $56,181 $0 139 160 119 $56,042 54,819 57,265 (55) DIST.PLT.- METERS $70,426 $0 176 208 143 $70,250 71,444 69,056 (56) DIST.PLT.- STREET LIGHTING $35,211 87 101 73 $35,124 34,8...

AI summary The text presents a table with financial figures related to distribution and transmission services, including amounts for various categories such as services, meters, and street lighting, along with actuals and percentages for 2024.

44,376 37,483 (65) TRANSMISSION 2,906 3,104 2,708 (66) DISTRIBUTION/ TRANSMISSION COMMUNICATION 34,964 32,676 37,252 (67) DISTRIBUTION/ TRANSMISSION NON-COMMUNICATION 48,211 41,591 54,831 (68) RETAIL 42,983 46,109 39,858 (69) NON-FUNCTIONA...

AI summary The text presents a series of numerical entries related to various categories such as transmission, distribution, retail, and general property plant, with values for different years. These figures likely represent financial or operational data for a utility company or regulatory entity.

Line # AVERAGE RATE BASE RATE BASE RATE BASE 2025 2026 (78) WORKING CAPITAL & DEFERRED CHARGES (79) (80) WORKING CAPITAL - CASH FUEL 0 0 0 (81) WORKING CAPITAL - CASH OTHER 162,574 Source: 2014 COSS 187,621 137,527 (82) WORKING CAPITAL - M...

AI summary The text provides a breakdown of working capital and deferred charges for 2025 and 2026, including cash fuel, material and supply fuel, and deferred charges related to financing, tax, and pensions. It includes figures and sources for some line items.

0.0 (189) (190) VP ENTERPRISE SERVICES (191) PROCUREMENT & FACILITIES 12,283.6 (192) INFORMATION TECHNOLOGY 46,048.8 (193) (194) VP HUMAN RESOURCES (195) HUMAN RESOURCES 9,000.2 -2,000 (196) (197) POWER PRODUCTION (198) POWER PRODUCTION -...

AI summary The text presents a detailed breakdown of financial figures related to various departments and operations within an energy production company, including enterprise services, human resources, and power production. It includes costs associated with fuel, operating and maintenance, and different energy sources such as hydro, wind, solar, and biomass.

(1) GENERATION FUNCTION (2) (3) STEAM PLANT $806,726 $806,726 $0 $0 (4) HYDRO PLANT 752,403 752,403 $0 0 (5) WIND PLANT 153,864 153,864 $0 0 (6) LM6000 PLANT 96,372 96,372 $0 0 (7) GAS TURBINE PLANT - OTHER 79,518 79,518 $0 0 (8) GENERATIO...

AI summary This document provides a detailed breakdown of generation and plant-related financial figures, including costs for various types of plants such as steam, hydro, wind, and gas turbine, as well as working capital and deferred charges. The data shows no changes in values across the periods presented.

280,086 -76,712 356,798 0 (35) (36) TOTAL GENERATION FUNCTION 2,539,311 2,182,513 356,798 0 (37) (38) TRANSMISSION FUNCTION (39) Transmission - HV (not aplicable as a separate (40) item) 0 0 0 0 (41) (42) GENERAL PROPERTY PLANT 0 0 0 0 (43...

AI summary The text presents a series of financial figures and line items related to generation, transmission, and working capital, with most values listed as zero. It includes categories such as transmission, general property plant, and deferred charges, but does not provide specific details or analysis.

922 1,133,608 0 766,314 (41) (42) Working Capital & Deferred Charges/Credits: (43) CASH - FUEL 0 0 0 0 (44) CASH - OTHER 0 0 0 0 (45) MAT. & SUPPLIES - FUEL 0 0 0 0 (46) MAT. & SUPPLIES - OTHER 26,751 15,961 0 10,790 (47) DEF. CHG. - Finan...

AI summary The text presents a financial table with line items related to working capital, deferred charges, and credits for Nova Scotia Power, including entries for fuel, materials, financing, tax, and pension. It also references a compliance filing and exhibit related to the Grid Reliability and Availability (GRA) for 2026-2027.

(1) Transmission - EHV and HV combined 1,000,894 0 0 0 0 0 1,000,894 0 0 (2) (3) GENERAL PROPERTY PLANT 103,274 0 0 0 0 0 103,274 0 0 (4) TOTAL PLANT IN SERVICE 1,104,168 0 0 0 0 0 1,104,168 0 0 (5) Working Capital & Deferred (6) Charges/C...

AI summary The text presents a financial summary of transmission infrastructure and general property plant, along with deferred charges and credits, including items such as financing, tax, pension, and other categories. The data shows no changes in certain accounts across periods.

36,113 0 0 0 0 0 36,113 0 0 (15) TOTAL DISTRIBUTION PLANT 1,005,532 0 679,735 0 0 0 1,005,532 0 679,735 (16) (17) GENERAL PROPERTY PLANT 128,076 0 86,579 0 0 0 128,076 0 86,579 (18) TOTAL PLANT IN SERVICE 1,133,608 0 766,314 0 0 0 1,133,60...

AI summary The document presents a table with financial data related to distribution plant, general property plant, and various working capital and deferred charges/credits. The data includes figures for different categories such as cash, materials and supplies, and deferred charges related to financing, tax, and pension.

36,737 0 0 0 0 0 36,737 (44) Working Capital & Deferred (45) Charges/Credits: (46) CASH - FUEL 0 0 0 0 0 0 0 0 0 (47) CASH - OTHER 0 0 126,109 0 0 0 0 0 126,109 (48) MAT. & SUPPLIES - FUEL 0 0 0 0 0 0 0 0 0 (49) MAT. & SUPPLIES - OTHER 0 0...

AI summary The document presents a financial table outlining working capital and deferred charges/credits, including categories such as cash, materials and supplies, and deferred charges related to financing, tax, and pensions. The table includes subtotals and totals for the retail function and average rate base.

(1) DEMAND CLASSIFICATION (2) (3) GENERATION FUNCTION (4) STEAM PLANT $388,772 $250,300 $13,250 $68,765 $7,877 $7,205 $8,309 $14,122 $11,693 $5,390 $1,861 D-3A (5) HYDRO PLANT 362,593 233,446 12,358 64,134 7,347 6,719 7,749 13,171 10,906 5...

AI summary The document presents a detailed breakdown of various generation plant costs, including steam, hydro, wind, and gas turbine plants, along with associated financial figures such as capital expenditures, operating expenses, and other related costs, categorized under different headings.

21,789 37,031 30,662 14,134 4,881 (12) (13) GEN. PROPERTY PLANT 69,278 44,603 2,361 12,254 1,404 1,284 1,481 2,516 2,084 961 332 P-7 (14) TOTAL PLANT IN SERVICE 1,088,751 700,963 37,106 192,575 22,060 20,176 23,269 39,548 32,746 15,095 5,2...

AI summary The text presents a series of numerical entries related to property, plant, and working capital, including deferred charges and credits. These figures appear to be financial data from a regulatory proceeding, possibly detailing asset values, fuel-related costs, and deferred expenses.

mission - HV (not aplicable as a (40) separate item) 0 0 0 0 0 0 0 0 0 0 0 D-3B (41) (42) GEN. PROPERTY PLANT 0 0 0 0 0 0 0 0 0 0 0 P-8A (43) TOTAL PLANT IN SERVICE 0 0 0 0 0 0 0 0 0 0 0 (44) Working Capital & Deferred (45) Charges/Credits...

AI summary The text provides a table with various financial and asset-related line items, all showing zero values. These include working capital, deferred charges, and general property plant. The entries are labeled with codes such as D-3B and P-8A, suggesting they relate to specific accounts or categories within the organization's financial structure.

Transmission - EHV and HV (1) combined 1,000,894 644,399 34,112 177,035 20,280 18,548 21,391 36,357 30,104 13,877 4,792 D-3A (2) (3) GENERAL PROPERTY PLANT 103,274 66,490 3,520 18,267 2,093 1,914 2,207 3,751 3,106 1,432 494 P-8B (4) TOTAL...

AI summary The text presents a table with financial data related to transmission infrastructure, including general property plant, working capital, and deferred charges/credits. It includes various line items such as cash, materials and supplies, and financing and tax-related deferred charges. The data spans multiple years and includes references to different categories and locations.

SUPPLIES - FUEL 0 0 0 0 0 0 0 0 0 0 0 P-9 (47) MAT. & SUPPLIES - OTHER 15,961 11,086 608 3,034 185 346 349 161 0 44 148 P-9 (48) DEF. CHG. - Financing 4,395 3,052 167 835 51 95 96 44 0 12 41 P-9 (49) DEF. CHG. - Tax 5,309 3,687 202 1,009 6...

AI summary The document presents a detailed breakdown of supply and financing-related costs across multiple categories, including fuel, materials, and various deferred charges such as tax, pension, and others, with specific figures for different periods and categories.

(1) Transmission - EHV and HV combined 0 0 0 0 0 0 0 0 0 0 0 E-1A (2) (3) GENERAL PROPERTY PLANT 0 0 0 0 0 0 0 0 0 0 0 P-11B (4) TOTAL PLANT IN SERVICE 0 0 0 0 0 0 0 0 0 0 0 (5) Working Capital & Deferred (6) Charges/Credits: (7) CASH - FU...

AI summary The document presents a table with zero values across multiple categories related to transmission, general property plant, and working capital. It includes entries for cash, materials and supplies, and deferred charges, but no specific details or explanations are provided.

(1) CUST. CLASSIFICATION (2) (3) DISTRIBUTION FUNCTION (4) DISTRIBUTION PLANT $679,735 $606,916 $34,804 $22,940 $45 $4,404 $361 $79 $2 $12 $10,173 EXH. 3A (5) (6) GEN. PROPERTY PLANT 86,579 77,304 4,433 2,922 6 561 46 10 0 1 1,296 P-12 (7)...

AI summary The text presents financial and asset data related to distribution and generation plant values, working capital components, and deferred charges. It includes figures for various years and exhibits, indicating a focus on capital and asset management within a regulatory context.

(1) DEMAND (2) (3) LAND $2,624 $1,782 $97 $493 $52 $56 $62 $45 $0 $12 $24 P-3 (4) EASEMENTS & SURVEY 107,643 73,105 3,990 20,221 2,148 2,294 2,532 1,865 0 512 976 P-3 (5) OTHER 10,799 7,334 400 2,029 216 230 254 187 0 51 98 P-3 (6) SUBSTAT...

AI summary The text presents a table of costs related to various infrastructure components, including land, easements, substations, poles, overhead and underground lines, and line transformers, with associated figures and references to exhibits and pages.

2 0 0 1,467 EXH 3F (25) U.G. LINES 46,244 41,874 2,372 964 0 183 0 0 0 0 851 EXH 3H (26) LINE TRANSFORMERS 0 0 0 0 0 0 0 0 0 0 0 (27) SERVICES 58,531 49,036 2,778 5,646 0 1,072 0 0 0 0 0 C-2B (28) METERS 68,109 57,177 3,664 5,765 33 1,141...

AI summary The document presents a detailed breakdown of various line and service costs, including underground lines, line transformers, services, meters, and street lighting, along with summaries and totals for customer and retail categories. It includes figures and exhibits for reference.

0 0 0 0 0 0 (39) (40) SUMMARY (41) (42) LAND 5,050 3,978 222 544 52 66 62 46 0 12 68 P-3 & 4 (43) EASEMENTS & SURVEY 207,143 163,180 9,092 22,295 2,151 2,688 2,551 1,868 0 512 2,806 P-3 & 4 (44) OTHER 20,781 16,370 912 2,237 216 270 256 18...

AI summary The document presents a table with various line items and costs related to land, easements, surveying, substations, poles, overhead and underground lines, line transformers, and services. It includes figures for different categories and references exhibits and pages.

904 2,874 ( 5) GENERAL LARGE 4,561 4,193 367 ( 6) SMALL INDUSTRIAL 4,047 3,722 325 ( 7) MEDIUM INDUSTRIAL 4,648 4,274 374 ( 8) LARGE INDUSTRIAL 4,227 3,931 296 ( 9) PHP 0 0 0 (10) MUNICIPAL 1,086 998 87 (11) UNMETERED 1,721 1,583 138 (12)...

AI summary The document presents a table with figures related to various categories of investment, including general large, small industrial, medium industrial, and large industrial, with associated totals and allocation factors. It includes a section on the analysis of average pole investment for the year ending December 31, 2027, with data categorized by factors such as total plant, primary demand, and secondary customer.

ANALYSIS OF AVERAGE OVERHEAD WIRE INVESTMENT FOR THE YEAR ENDING DECEMBER 31, 2027 (IN THOUSANDS OF DOLLARS) (1) (2) (3) (4) (5) TOTAL PRIMARY PRIMARY SECONDARY SECONDARY PLANT DEMAND CUSTOMER DEMAND CUSTOMER (1) FACTORS 1.000 0.540 0.255...

AI summary The document presents an analysis of average overhead wire investment for the year ending December 31, 2027, including total and segmented net wire costs, factors before and after adjustments, and the impact of a zero cap restriction.

INC. ALLOCATION OF AVERAGE OVERHEAD WIRE INVESTMENT FOR THE YEAR ENDING DECEMBER 31, 2027 (IN THOUSANDS OF DOLLARS) (1) (2) (3) (4) (5) TOTAL PRIMARY PRIMARY SECONDARY SECONDARY PLANT DEMAND CUSTOMER DEMAND CUSTOMER ( 1) DOMESTIC $145,924...

AI summary The document presents the allocation of average overhead wire investment for the year ending December 31, 2027, categorized by different plant types and customer segments. It includes detailed figures for domestic, small general, general, large industrial, and other categories, with allocation factors listed for different classes.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2026-2027 GRA Compliance Filing - SR-01 Attachment 3 Page 21 of 102 EXHIBIT 3G NOVA SCOTIA POWER INC. ANALYSIS OF AVERAGE UNDERGROUND WIRE INVESTMENT FOR THE YEAR ENDING DECEMBER 31, 202...

AI summary The document presents an analysis of average underground wire investment for Nova Scotia Power Inc. for the year ending December 31, 2027, including factors, total net wire costs, and adjustments before and after a zero cap restriction.

0.018 (0.018) REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2026-2027 GRA Compliance Filing - SR-01 Attachment 3 Page 22 of 102 EXHIBIT 3H NOVA SCOTIA POWER INC. ALLOCATION OF AVERAGE UNDERGROUND WIRE INVESTMENT FOR THE YEAR ENDING...

AI summary The document presents an allocation of average underground wire investment for Nova Scotia Power Inc. for the year ending December 31, 2027, categorized by different plant types and customer segments, with figures provided in thousands of dollars.

139 - 139 (16) BIOMASS - OPERATING & MAINT. 6,831 6,580 - - - 251 (17) LM6000 OPERATING & MAINT. 656 632 - - - 24 (18) COMBUSTION TURBINE - OPER. & MAINT. 1,728 1,664 - - - 64 (19) FUEL PROCUREMENT 6,858 6,605 - - - 252 (20) GENERATION DEV...

AI summary The text presents a table with various operational and maintenance costs related to biomass, combustion turbines, fuel procurement, and power production, along with corporate and legal expenses. It includes figures for different categories and subcategories, with some entries showing cost differences between periods.

652 167 425 254 52 F-1 (30) ENVIRONMENTAL POLICIES & PROGRAMS 322 132 65 111 2 12 F-3 (31) (32) TOTAL CORPORATE GROUPS 20,598 13,418 2,737 2,789 902 753 (33) (34) CUSTOMER OPERATIONS (35) TRANSMISSION & DISTRIBUTION: (36) TRANSMISSION: HV...

AI summary The text presents a table with various financial and operational data categories, including environmental policies, corporate groups, customer operations, and transmission and distribution expenses. It includes figures related to storm expenses and infrastructure costs.

(1) REGULATORY AFFAIRS (2) Advocacy Expense 1,931 1,345 156 334 26 70 F - 2 (3) Other Expenses 7,582 5,280 612 1,310 104 277 F - 2 (4) Subtotal 9,513 6,625 767 1,643 130 347 (5) (6) FINANCE GROUP (7) INTERNAL AUDIT 1,825 1,271 147 315 25 6...

AI summary The text outlines various expenses categorized under Regulatory Affairs, Finance Group, and Enterprise Services, including Advocacy Expense, Internal Audit, Investor Relations, and Procurement & Facilities, with figures and references to different financial categories and subtotals.

46 (59) DISTRIBUTION - Substations 9,632 9,317 - 315 (60) DISTRIBUTION - Poles and Fixtures 22,210 21,483 - 727 (61) DISTRIBUTION - OH Lines 12,809 12,390 - 419 (62) DISTRIBUTION -UG Lines 2,997 2,899 - 98 (63) DISTRIBUTION -Line Transform...

AI summary The text presents a table of distribution and general property costs, including substation, poles, lines, and transformers, with figures for different years and categories. It also includes entries related to write-offs and interest net.

LER 2 133 (15) CORP. PERFORMANCE & BACK OFFICE - - (16) (17) TOTAL FINANCE 5 276 (18) (19) ENTERPRISE SERVICES (20) PROCUREMENT & FACILITIES 12 423 (21) INFORMATION TECHNOLOGY 29 1,600 (22) (23) TOTAL ENTERPRISE SERVICES 41 2,022 (24) (25)...

AI summary The text provides a breakdown of various expense categories, including corporate performance, enterprise services, human resources, and other expenses, with corresponding numerical values listed. It appears to be a financial summary or budget allocation report.

198 11,141 (33) (34) COGS - - (35) (36) DSM EXPENSES - - (37) (38) FCR DEFERRAL - - (39) (40) OTHER EXPENSES - - (41) (42) CAPITAL RELATED EXPENSES (43) (44) GRANTS IN LIEU OF TAXES 43 1,903 (45) DEPRECIATION : (46) STEAM 22 1,834 (47) HYD...

AI summary The text outlines various expense categories and their associated values, including depreciation for different energy sources such as steam, hydro, and wind, as well as grants in lieu of taxes and capital-related expenses.

ABOVE-THE- BELOW-THE- LINE RATE LINE RATE TOTAL CLASSES CLASSES (1) OPERERATION & MAINTENANCE (2) DIRECT 20,472 960 21,432 (3) NON-DIRECT 14,284 670 14,954 (4) (5) TOTAL OPER. & MAINT. 34,756 1,631 36,387 (6) DEPRECIATION (7) DIRECT 28,741...

AI summary The text presents a financial breakdown of operational and maintenance costs, depreciation, taxes, interest, and retained earnings, categorized into above-the-line and below-the-line line items. The total amount is reported as $165,253.

- (18) REG. AFFAIRS - ADVOCACY EXPENSE 1,344.8 648 697 - (18) GRANTS IN LIEU OF TAXES 21,162 10,198 10,964 - (19) Depreciation: (20) STEAM 48,024 23,144 24,881 - (21) HYDRO 16,631 8,015 8,616 - (22) WIND 12,844 6,190 6,654 - (23) LM6000 7,...

AI summary The text presents a financial summary of a regulatory proceeding, including advocacy expenses, grants, depreciation across various energy sources, interest, taxes, non-operating revenue, and total generation costs. It outlines a range of financial figures and categories relevant to the proceeding.

RIBUTION -Line Transformers 29,227 29,227 0 - (19) DISTRIBUTION -Services 3,398 0 0 3,398.5 (20) DISTRIBUTION -Meters 8,124 0 0 8,124.2 (21) GENERAL PROPERTY 28,301 16,886 0 11,415.0 (22) (23) INTEREST NET OF AFUDC 50,185 28,844 0 21,341.0...

AI summary The document presents a detailed financial breakdown of various distribution-related expenses and revenues, including line transformers, meters, corporate taxes, and streetlight maintenance, with specific figures for different line items and subtotals.

(1) CUST. CLASSIFICATION (2) (3) DISTRIBUTION (4) OPERATING & MAINT. $58,345 $52,707 $2,996 $1,324 $2 $253 $17 $3 $0 $1 $1,042 EXH 6A (5) REG. AFFAIRS - ADVOCACY EXPENSE 238 116 19 93 0 11 0 0 0 0 0 R-2 (5) GRANTS IN LIEU 7,433 6,637 381 2...

AI summary The text presents a financial breakdown of various categories including distribution, operating and maintenance, regulatory affairs, depreciation, interest, preferred dividends, corporate taxes, and non-operating revenue. It includes figures for different years and references exhibits and pages.

(1) COSTS BY FUNCTIONAL AREAS (2) Generation (3) FAM-related $866,611 $480,823 $30,885 $180,859 $27,318 $20,805 $31,629 $51,727 $25,589 $10,866 $6,109 (4) Non-FAM-related 448,364 271,336 16,432 92,772 12,981 10,382 14,742 13,116 7,624 6,03...

AI summary The text presents a breakdown of costs by functional areas, including Generation, Transmission, and Operating Costs. It includes figures for FAM-related and Non-FAM-related costs, as well as Non-Operating Revenue Credits and subtotals for each category.

186 60 312 (20) LM600 ENVIRONMENTAL & FUEL CONVERSION PLANT 0 0 0 (21) LM600 Enviromental & Fuel Conversion - CWIP 0 0 0 Check Total Generation Plant bfr Gen-related Transmission Assets 1,844,643 1,844,643 1,797,215 1,892,070 Total Generat...

AI summary This text presents financial data related to environmental and fuel conversion plants, including total generation plant values and capital works in progress (CWIP) before generation-related transmission assets. The figures are listed across multiple years and categories.

Average Distr. RB (31) T&D Adj. Distr. CWIP 2026 2027 before CWIP & T&D Adj. (32) DIST.PLT.- LAND $5,050 $478 9 9 9 $4,563 4,563 4,563 (33) DIST.PLT.- EASEMENTS & SURVEY $207,143 $164 410 398 422 $206,569 191,758 221,380 (34) DIST.PLT.- OT...

AI summary The text presents a table with financial data related to distribution plant costs, including adjustments, capital works in progress (CWIP), and projected values for 2026 and 2027. It includes various line items such as land, easements, substations, poles, overhead lines, underground lines, and line transformers.

15,013.7 (138) TOTAL CORPORATE GROUPS 68,025.74 (139) (140) TOTAL LABOUR RELATED 242,597.10 244,779.2 -2,182.1 (141) TRANSMISSION CONTROL CENTER 3,619.3 (142) GENERATION, TRANSMISSION AND DISTRIBUTION (143) TRANSMISSION BEFORE STORM EXPENS...

AI summary The text presents a detailed breakdown of various expenses related to corporate groups, labor, transmission, distribution, and customer service. It includes figures for storm-related expenses, line costs, and customer service expenditures, along with percentages and comparisons.

8,847 $7,602,473 (186) Environmental Services 2,623.4 2023 $418,234 $348,956 $2,871,700 $3,638,890 (187) Project Implementation 1,082.7 2024 $1,360,838 $1,492,826 $10,572,909 $13,426,574 (188) EAM 8,631.4 Total $3,894,405 $4,119,914 $31,46...

AI summary The text presents a financial table with figures related to various departments and programs, including Environmental Services, Project Implementation, and EAM, along with budget and cost data spanning multiple years and categories.

URCES (206) HUMAN RESOURCES 9,248.4 -2,000 (207) (208) POWER PRODUCTION (209) POWER PRODUCTION - FUEL 366,094.3 (210) POWER PRODUCTION - OPERATING & MAINT. 58,188.7 (211) POWER PRODUCTION - HYDRO PLTS. 2,394.5 (212) POWER PRODUCTION - WIND...

AI summary The document provides a detailed breakdown of various costs and expenses related to human resources and power production, including fuel, operating and maintenance, hydro, wind, solar, biomass, and purchased power. It includes figures for different categories and subcategories of expenses.

0.0 1,393 962.9 431 431 0 (268) DISTRIBUTION - Substations 9,632.0 0 0.0 9,632 9,114.9 517 517 0 (269) DISTRIBUTION - Poles and Fixtures 22,210.0 0 0.0 22,210 317.5 21,893 21,893 0 (270) DISTRIBUTION - OH Lines 12,809.1 0 0.0 12,809 (370.0...

AI summary The text presents a table with financial data categorized under various distribution line items, including substations, poles, overhead lines, underground lines, transformers, services, meters, and streetlights. Each line item includes values for different years and periods, indicating costs and changes over time.

1.44063% 1.37% 1.28% 1.11% 0.76% 0.77% 0.92% 0.89% 1.00% 1.10% 1.27% 1.28% 1.13% Unmetered BUTU Total 100.00000% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% REDACTED (CONFIDENTIAL INFORMA...

AI summary The document presents various percentages and financial figures related to capacity credits, demand charges, and biomass calculations for the 2026-2027 GRA Compliance Filing. It includes data on installed capacity, fuel costs, and operating expenses for biomass projects.

$ 92,802 LM6000 Plant - CWIP $ 30 $ 0 $ 60 LM6000 Environmental & Fuel Conversion $ - $ - $ - LM6000 Environmental & Fuel Conversion - CWIP $ - $ - $ - ECEI Batteries Plant $ 145,582 $ 119,318 $ 171,846 ECEI Batteries CWIP $ 15,185 $ 30,37...

AI summary The text presents financial data for various plants and infrastructure projects, including the LM6000 Plant, ECEI Batteries Plant, and Generation-related Trans Assets Plant, along with their associated CWIP (Construction Work in Progress) costs, and categorizes expenses under Distribution, Transmission, and General Property Plant.

P $ 14,812 $ 10,022 $ 19,601 Total General Plant $ 477,287 $ 464,951 $ 489,623 Total System Plant in Service $ 4,463,196 Direct Plant in Service (Solar) $ 1,285

AI summary The text presents financial figures related to plant assets, including General Plant and System Plant in Service, with specific values for different years and categories such as Solar Direct Plant in Service.

7 $ 464,951 $ 489,623 Total System Plant in Service $ 4,463,196 Direct Plant in Service (Solar) $ 1,285

AI summary The text provides financial figures related to a regulatory proceeding, including a total system plant in service and direct plant in service (solar) values. These numbers likely represent capital expenditures or asset values under consideration.

0,000 $13,250,000 $33,082,221 $13,250,000 $13,250,000 $13,250,000 $13,250,000 $13,250,000 $33,082,221 $13,250,000 $198,664,442 Non-Wind Purchases Purchased Power Regular bfr Biomass $1,089,522 $1,308,985 $1,789,401 $1,774,269 $1,644,728 $1...

AI summary The text presents a series of numerical values related to financial figures and non-wind power purchases, including amounts for purchased power from biomass and other sources across different years and categories.

96,186 $ 92,802 $ 99,569 LM6000 Plant - CWIP $ 186 $ 60 $ 312 LM6000 Environmental & Fuel Conversion $ - $ - $ - LM6000 Environmental & Fuel Conversion - CWIP $ - $ - $ - ECEI Batteries Plant $ 166,178 $ 171,846 $ 160,511 ECEI Batteries CW...

AI summary The text presents financial data related to various energy projects including the LM6000 Plant, ECEI Batteries Plant, and Generation-related Trans Assets Plant, with figures indicating costs and capital works in progress (CWIP) across different years.

s CWIP $ - $ - $ - Total Generation $ 1,888,883 $ 2,065,526 $ 2,165,412 DISTRIBUTION $ 34,037 $ 37,483 $ 30,590 TRANSMISSION $ 2,509 $ 2,708 $ 2,311 DISTRIBUTION/ TRANSMISSION COMMUNICATION $ 39,282 $ 37,252 $ 41,312 DISTRIBUTION/ TRANSMIS...

AI summary The text presents financial data related to generation, distribution, transmission, and general property plant, including capital works in progress (CWIP) and total system plant in service. It includes figures for different years and categories such as retail, non-functionalized, and direct plant in service (solar).

$ 489,623 $ 507,221 Total System Plant in Service $ 4,802,854 Direct Plant in Service (Solar) $ 1,224

AI summary The text provides financial figures, including $489,623 and $507,221, and details about total system plant in service, valued at $4,802,854, with $1,224 allocated to direct plant in service (solar).

$ 60,407 $ 60,407 $ - $ - $ (31,296) $ 31,296 $ - $ 29,111 $ 31,296 $ - Total Generation Plant $ 2,115,469 $ 2,115,469 $ - $ - $ (1,095,995) $ 1,095,995 $ - $ 1,019,473 $ 1,095,995 $ - General Property Plant -generation-related $ 143,756 $...

AI summary The text presents financial data related to generation plant and general property plant, including values for different categories and percentages related to rate base factors applicable to the base cost of fuel classification. The data appears to be part of a compliance filing and includes redacted information.

Export Revenues $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $0 OM&G (Solid Fuel Handling) recovered in fuels $0 Foreign Exchange (Fuel-related) $0 ML - NS Block per Appliation $16,990,030 $16,990,030 $16,990,030 $16,990,030 $16,990,030 $16,990...

AI summary The text presents financial data related to export revenues, OM&G costs, foreign exchange, and adjustments for the NS Block under various decisions. It includes figures for total FAM related costs and costs with OATT customers over multiple years.

w the Line 122.4 37.5 - - - 37.5 94.4 - - 94.4 36 LED SL Capital Costs 37 Total In Province Electric Revenue 1,671.0 1,862.8 17.0 60.2 - 1,940.0 1,932.2 16.7 59.5 2,008.5 38 39 Exports 40 41 Total Electric Revenue $1,671.0 $1,862.8 $17.0 $...

AI summary The text presents financial data related to electric revenue and capital costs, including figures for 2026-2027. It includes details on total in-province electric revenue, exports, and total electric revenue. Notes indicate that forecasts are for rate application purposes only and may have rounding differences.

[136] Applying the proposed depreciation rates in the preceding Table to forecast monthly balances of depreciable Plant throughout the test period results in a forecast depreciation and accretion expense of $282.4 million in 2026 and $300....

AI summary The document discusses the forecast depreciation and accretion expenses for NS Power in 2026 and 2027, noting the impact of securitization and capital additions. It also mentions the expert analysis provided by Dustin Madsen from Emrydia Consulting Corporation on NS Power's depreciation practices.

3.4.1.1.1 Production Plant [142] As it relates to its generation assets, NS Power's depreciation study requires it to estimate the future cost of decommissioning its generation sites, as depreciation rates are generally set to recover the...

AI summary NS Power's depreciation study for generation assets includes decommissioning cost estimates, with separate studies for hydro and non-hydro plants. The GRA settlement agreement removed inflation and contingency costs, lowering proposed depreciation rates. Partial decommissioning costs (excluding dams and archaeological expenses) are included, while full decommissioning and archaeological costs are excluded to balance rate pressure and cost recovery.

concern. [159] This notwithstanding, Mr. Madsen supported NS Power's proposal to exclude these decommissioning costs from the proposed depreciation rates. In coming to this determination, he stated: … it is important to remember that the c...

AI summary The document discusses NS Power's proposal to exclude decommissioning costs of Wreck Cove, Mersey, and Tusket hydro systems from depreciation rates. Mr. Madsen supports this, citing low likelihood of full asset salvage due to public interest concerns. NS Power acknowledges intergenerational equity concerns but argues the exclusion ensures just and reasonable rates until cost certainty is achieved.

considered to exhibit low archaeological potential, archaeological monitoring could be recommended for the purpose of obtaining additional information and/or to confirm the results of the assessment. [171] In the case of hydro system parti...

AI summary The document discusses archaeological monitoring for hydro system decommissioning and the inclusion of contingency costs in decommissioning estimates. Gannett Fleming's inclusion of archaeological reconnaissance costs in depreciation studies is highlighted, while the Board rejects removing contingency costs from generation decommissioning estimates, citing the 2018 Hydro Asset Study (HAS).

3.4.6 Depreciation – Summary [268] For the purposes of the current GRA, the Board finds it appropriate to exclude decommissioning costs for the Wreck Cove, Mersey, and Tusket hydro systems from proposed depreciation rates for the 2026 and...

AI summary The Board excludes decommissioning costs for Wreck Cove, Mersey, and Tusket hydro systems from 2026-2027 depreciation rates but accepts partial decommissioning costs for other hydro assets. It directs NS Power to reconcile salvage data from 2009 onward and initiate stakeholder engagement on decommissioning policies. Net salvage rates for non-settlement agreement assets and three transmission/distribution accounts are approved.

3.5.1.1 Background [281] Securitization was described by NS Power as the "centrepiece" of its general rate application and the settlement agreement. The practical impact of securitization in this matter is that it would result in ratepayer...

AI summary NS Power proposes securitization as a key element of its rate application, aiming to reduce financing costs for retiring coal plants under decarbonization policies. This process would lower customer financing rates by $90M over 2026-2027, restructure assets into debt, and improve credit metrics, though shareholders would lose returns on securitized assets.

27, … In the GRA negotiation process, securitization received unanimous support from customer representatives as the preferred solution for financing the DDA assets. … Not only have customer representatives viewed securitization favourably...

AI summary The document discusses support for securitization of DDA assets by customer representatives and credit rating agencies (S&P, DBRS Morningstar). The Board accepts evidence that securitization lowers financing costs, citing the 2024 FAM receivables purchase as a precedent. Intervenors oppose retroactive deferral effectiveness but acknowledge securitization's benefits. Morrison Park notes improved bond yields due to positive developments like securitization.

3.6.1 Capital Additions [365] NS Power's capital outlook for 2026-2027 for additions to Plant reflects the company's best estimate of capital investment over the test years at a point in time. The test period investment is intended to supp...

AI summary NS Power outlines its 2026-2027 capital investment plans to ensure safe electricity delivery, environmental compliance, and alignment with Renewable Electricity Standards. The proposed investments support the 5-Year Reliability Plan and growing customer demand. Rate base growth will depend on DDA securitization proceeds, with potential offsets if securitization fails.

3.6.1.1 Findings [367] NS Power's estimated capital investment for the GRA test period amounts to $671.3 million in 2026 and $556.1 million in 2027. The capital additions to rate base for the test period have generally been approved by the...

AI summary NS Power's capital investment forecasts for 2026 and 2027 are reviewed, with most projects approved by the Board. Discrepancies between GRA and ACE Plan projects are attributed to timing and asset management updates. The Board finds the total forecast spending reasonable, noting NS Power will align its capital program with the GRA forecast.

[431] The Board went on to find: [42] In summary, the Board finds that the threshold for rebutting the presumption of prudence is contextual. It requires a reasonable question – something that is more than a bald statement or speculation –...

AI summary The Board clarifies that the threshold for rebutting the presumption of prudence in a FAM Audit requires a reasonable question, not mere speculation. The Department argues NS Power's prudence may be questioned due to (1) overly low depreciation rates inflating coal asset net book values and (2) unnecessary investment in retiring coal assets.

s should consider, but have not prescribed methods for calculating a fair return. To be considered fair, tribunals have taken the following principles or standards into account in determining returns: - The return must be comparable to the...

AI summary The fair return requirement for utilities involves three principles: comparable investment, financial integrity, and capital attraction. Tribunals ensure returns are market-comparable, maintain financial stability, and attract capital. Challenges include finding comparable investments and determining appropriate debt ratings. Financial integrity relies on debt coverage ratios, while capital attraction ensures returns are sufficient for infrastructure development.

equity in capital markets that are affected by macroeconomic indicators and central bank policies. Concentric's evidence filed with NS Power's application used market data as recent as February 2025. [456] Concentric believes that since th...

AI summary Concentric argues that NS Power requires a 9.9% return on equity to attract investment for its energy transition, citing stable capital costs since the last GRA but long-term challenges like climate change. This recommendation, based on DCF and CAPM models with flotation cost adjustments, exceeds the settlement agreement's proposed ROE.

Summary of Return on Equity Results CAPM DCF Risk Premium Opinion Concentric 9.23% 9.02% 10.04% 9.43% Cleary 6.84% 7.86% 7.94% 7.6% 3.7.2.2 Capital Structure (Equity Ratios) [468] Concentric determined that a common equity ratio of 45% wou...

AI summary Concentric determined that a 45% common equity ratio is appropriate for NS Power, considering its financial and business risks and the need to retire thermal generation by 2030. The requested 40% equity ratio is seen as conservative compared to other Canadian and U.S. utilities.

3.7.5 Findings [511] It bears repeating that for at least a century, the Supreme Court of Canada has recognized that investors in regulated utilities are entitled to a fair return that is comparable to the return they would see from other...

AI summary The Supreme Court of Canada has long upheld that regulated utility investors deserve a fair return comparable to similar investments. Factors like comparable returns and financial integrity are key in setting allowed returns, while affordability and reliability are addressed through other regulatory tools. The NSUARB's 2005 decision on NS Power's rate request followed a major winter storm, highlighting regulatory considerations during crises.

4.4 Lingan Unit 2 and Trenton Unit 5 [712] In its general rate application, NS Power assumed sustaining capital expenses of $20,829,182 at Lingan 2 during the 2026-2027 test period, including $18,433,591 in 2026 and $2,395,591 in 2027 (Bat...

AI summary NS Power's general rate application includes sustaining capital expenses for Lingan Unit 2 and increased OM&G costs for both Lingan Unit 2 and Trenton Unit 5. Bates White notes the costs are substantial relative to the energy output and recommends additional narrative support for the capital cost increase.

d in longer periods between actual meter readings than usual. It was also not clear to the Board why NS Power needed to continue to use proration at all given its significant investment in AMI meters. In its compliance filing, NS Power exp...

AI summary NS Power explained its continued use of proration due to limitations in its legacy Customer Information System, despite significant investment in AMI meters. It also addressed concerns about extended proration periods caused by a cyberattack, stating that operations have largely returned to normal with billing accuracy within regulated standards.

SPECIAL CONDITIONS - (1) Metering will normally be at the low voltage side of the transformer. Should the customer's requirements make it necessary for the Company to provide primary metering, then the customer will be required to make a c...

AI summary The document outlines special conditions for metering and service provisions. It specifies that primary metering requires a capital contribution from the customer, and adjustments to meter readings are made when metering is on the high voltage side. Additional conditions relate to non-standard service provisions, load integrity, and factors affecting power supply system integrity.

PRELIMINARY ISSUES LIST The following issues will be dealt with in the public hearing on Nova Scotia Power Incorporated's (NS Power) 2026-2027 General Rate Application (Matter M12451) which is set to begin Wednesday, January 7, 2026: - 1....

AI summary The preliminary issues list outlines key topics for the public hearing on NS Power's 2026-2027 General Rate Application. These include fuel and purchased power costs, capital structure, rate design, depreciation studies, cybersecurity impacts, and climate change adaptation. The proceeding will address regulatory compliance, cost recovery, and the impact of various operational and financial factors on rate-setting.

Comment While the Board must approve the forecast rate base as part of this GRA, the material additions to NS Power's rate base are assessed as part of its Annual Capital Expenditure Plan filings pursuant to s. 35A of the Public Utilities...

AI summary NS Power argues that the Board's approval of the forecast rate base is already covered by existing processes, including the Annual Capital Expenditure Plan and standalone applications under the Public Utilities Act, and therefore does not require further evidence in the hearing.

Issue Working capital

AI summary The issue of working capital is being addressed in the regulatory proceeding, focusing on the financial management and short-term liquidity needs of the utility company.

Addressed in Application or Evidence from Consultants NS Power submitted that certain issues were addressed in evidence from consultants filed with its application. In particular, evidence filed by Concentric Energy Advisors supporting NS...

AI summary NS Power argues that consultant evidence (from Concentric Energy Advisors and ScottMadden) addresses key issues impacting proposed rates, including capital structure, financing costs, and working capital. It also claims Maritime Link Transmission Projects meet rate base eligibility criteria. NS Power contends other parties should not submit evidence on these matters, but the text deems this position unreasonable.

FINAL ISSUES LIST The following issues will be dealt with in the public hearing on Nova Scotia Power Incorporated's (NS Power) 2026-2027 General Rate Application (Matter M12451) which is set to begin Wednesday, January 7, 2026: - 1. Fuel a...

AI summary The Final Issues List outlines 21 topics for public hearing on NS Power's 2026-2027 rate application (M12451). Key areas include fuel cost mechanisms, capital structure compliance with the Public Utilities Act, rate design, climate adaptation plans, cybersecurity impacts, and securitization issues. The hearing begins January 7, 2026.

Request IR-30: - As it relates to the decommissioning costs of the Wreck Cove, Mersey, and Tusket hydroelectric - assets, please provide a schedule reconciling all amounts that have been historically recovered - in customer rates for net s...

AI summary Request IR-30 seeks a reconciliation schedule of decommissioning costs for Wreck Cove, Mersey, and Tusket hydroelectric assets, detailing historical net salvage recoveries in customer rates by year. The request includes assumptions, calculations in an Excel file, and an extension of analysis to expected decommissioning dates with estimated net costs relative to recovered amounts.

Request IR-31: - Referring to the potential decommissioning costs of Wreck Cove, Mersey, and Tusket, would NS - Power be opposed to future securitization of these amounts if they were required to be incurred - in the future? Please fully e...

AI summary The document asks whether NS Power would oppose future securitization of decommissioning costs for Wreck Cove, Mersey, and Tusket if they become necessary. The inquiry seeks clarification on NS Power's stance regarding potential financial strategies for managing these costs.

Request IR-33: Document: 325194 Date Filed: Oct 20/25 Page 8 - Referring to the Roseway Hydro Decommissioning cost amortization, please provide all evidence - supporting the actual costs incurred, the historical amount of depreciation and...

AI summary Request IR-33 seeks evidence on Roseway Hydro decommissioning costs, including actual costs, historical depreciation, net salvage, net book value, and assumptions. The Company is asked to provide calculations and supporting information for proposed amortization of decommissioning costs.

al. (2016) study (which examines MRPs over the 1900-2015 period), and is 1 Request IR-9: 2 3 4 5 6 7 8 9 References: (A) On pages 45-48 of Appendix 10A, Concentric discusses its beta estimates that it uses in its CAPM cost of equity calcul...

AI summary The text references Concentric's discussion of beta estimates in its CAPM cost of equity calculations, including references to Value Line and Bloomberg's adjusted betas and a 55-year-old study. It also mentions a study examining MRPs over the 1900-2015 period.

Request IR-8: References: Direct Evidence p. 72: " Maintaining [emphasis added] the current approved common equity ratio is particularly important to maintaining NS Power's current credit ratings given the significant capital investments r...

AI summary NS Power argues maintaining its approved common equity ratio is critical to preserving credit ratings amid large capital investments. While AFUDC boosts earnings, it does not improve cash flow, leading to deteriorating credit metrics during construction. Increasing the equity ratio is deemed necessary to secure financing for transformative projects.

Question: - (a) Please clarify the intention of references to "maintaining" and "increasing" the equity ratio in the context of this paragraph of the Direct Evidence. - (b) In the context of the capital structure, equity return and custome...

AI summary The proceeding seeks clarification on NS Power's intent regarding maintaining/increasing equity ratios, defines capital projects that could risk credit ratings, and confirms if such projects are planned. It requests financial metric calculations to support arguments about capital structure impacts on credit ratings and customer rates for 2026-2027.

Request IR-28: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 25-26 of 58 - Per N-6, (Appendix 7C), page 25-26 of 58, we understand that labour expense has increased - from 2024 compliance restated to 2026 forecast for "Tu...

AI summary Request IR-28 seeks explanations for increased labour expenses at Tufts Cove and combustion turbines, citing factors such as higher engineering, operations and maintenance (OM&G) headcount due to extended running hours, shutdowns, capital programs, and salary escalation. The request references N-6 2026-2027 GRA Direct Evidence Appendix 7C, pages 25-26.

Request IR-56: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 57-58 of 58 - Per N-6, (Appendix 7C), page 57-58 of 58, we understand that vehicle allocated costs has - increased from 2024 compliance restated to 2026 forecas...

AI summary The document requests a cost breakdown for increased capital investments in transmission and distribution assets, attributing the increase to higher capital spending. It also seeks an explanation for the decrease in vehicle costs from 2024 actual and 2025 budget to 2026 forecast, linked to the profile of capital investment.

Request IR-57: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 57-58 of 58 - Per N-6, (Appendix 7C), page 57-58 of 58, we understand that admin overheads have increased - from 2024 compliance restated and 2024 actuals to 20...

AI summary The document requests clarification from Nova Scotia Power Inc. (NSPI) on how changes in administrative overheads—increasing from 2024 compliance/restated actuals to 2026 forecasts and decreasing from 2025 budgets to 2026 forecasts for 'corporate adjustments'—are linked to the profile of capital investments.

Request IR-60: - Reference: FO-11 - Please provide workbooks, calculations and other supporting documentation for each line item - included in FO-11 (Details of interest and other expenses), including each of the below: - a) interest on lo...

AI summary The document requests detailed supporting documentation for specific financial line items (interest on debt, financing adjustments, etc.) included in FO-11, part of a regulatory proceeding.

Request IR-74: - Reference: FO- 12 - With regards to "FOR-12: Average Rate Base Supporting Schedule Capital Assets" - a) Please provide support for the $12.6 million in deferred financing costs pertaining to the securitization proceeds in...

AI summary Request IR-74 seeks justification for $12.6 million in deferred financing costs related to 2026 securitization proceeds and confirmation of Board approval for inclusion in the Rate Base under FOR-12.

Request IR-75: - Reference: FO-12 - Please provide support for line 17 "Capital spending including AFUDC" found in FO-12 - Attachment 1. In particular reconcile the balance to approved capital spending reporting for the - balances for line...

AI summary Request IR-75 seeks support for line 17 ('Capital spending including AFUDC') in FO-12, requiring reconciliation of 2025 forecast and 2026-2027 proposed balances with approved capital spending reporting.

Request IR-11: - Reference: Exhibit N-3 GRA Direct Evidence, Section 1.4 Reliability and System Strength - On page 11 of the application, NS Power says it is advancing innovative large-scale capital - projects that will ensure the stabilit...

AI summary NS Power claims its large-scale capital projects ensure grid stability during Nova Scotia's energy transition, replacing fossil fuels with renewables at a pace serving Nova Scotians. The request asks for elaboration on this pace and its alignment with ScottMadden Report findings that NS Power's capital metrics are at or below peer median.

Request IR-20: - Reference: Exhibit N-3 GRA Direct Evidence - On page 12 of the application NS Power states that it plans to spend $485 million in 2026 and - 2027 and lists several proposed projects on page 12 and 13. - a) Please confirm t...

AI summary NS Power proposes a $485 million investment in 2026-2027 for projects listed in its application. The request seeks confirmation if these align with the Five-Year Reliability Plan from Matter M12012, a copy of the plan, detailed project costs, and whether any projects will be operational during test years.

Request IR-46: - a) Please identify the amount budgeted in proposed rates for OM&G costs for vegetation management in 2026 and 2027. - b) Please provide a table showing the amount of OM&G funds spent on vegetation management for each year...

AI summary Request IR-46 seeks information on budgeted and historical spending for vegetation management OM&G costs (2026-2027 and 2019-2024), with a requirement to separate distribution and transmission funds, and similar data on capital funds for routines and work orders.

Request IR-64: Reference: Exhibit N-3 Direct Evidence, Exhibit N-6(ii), Information Technology - Pages 8-9 in the direct evidence notes that the test year forecasts were completed before the - cybersecurity incident occurred, and that the...

AI summary The document requests clarification on a 1000% increase in IT consulting expenses linked to cybersecurity efforts and software upgrades (Tableau, PowerBI) following a cybersecurity incident. It questions whether the spending mitigated incident damage, if expenses are ongoing, and seeks definitions and matter numbers related to Tableau/PowerBI.

Request IR-76: - Reference: Exhibit N-14, OP-03, Attachment 1, ScottMadden Report, page 57 of 87, Capital - Additions Metrics - a) Do the summary observations on NS Power's capital additions metrics suggest that NS Power's investment in it...

AI summary The document raises two questions regarding Nova Scotia Power's capital additions metrics, inquiring if their investment is below average compared to peers and whether this suggests lagging investments in system reliability.

Request IR-85: - Reference: Exhibit N-7, Appendix 8E - a) Please explain the difference between the estimated costs to fully decommission NS Power's hydroelectric system on page 18 of 33 of Appendix 8B and page 14 of 129 of Appendix 8C, an...

AI summary Request IR-85 seeks clarification on NS Power's hydro decommissioning cost estimates, differences between full and partial decommissioning costs, documentation supporting partial decommissioning claims, and justification for potential risks to customers and shareholders if full decommissioning is required.