Topic:"Carbon Capture Utilization And Storage" in M12451

2026-2027 GRA Direct Evidence Appendix 6B (Redline) Page 16 of 35 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - Standby Emergency Response Services and third party compliance program - Third Party Supervision of Unloading - Transportation...

AI summary The document outlines various costs associated with emergency response services, transportation, compliance programs, and infrastructure maintenance, including GHG emissions compliance, ash hauling, and wharf maintenance.

nge since 2020; therefore aoDlv inflation factor. Control of Fuaitave Atmosoheric Emissions - Issues wth emissions not exoected durina decommissionina. Removal and Disposal of Materials and Residues 3,075 Based on age and use of site, sign...

AI summary The text discusses environmental and decommissioning considerations for a site, including control of emissions, removal and disposal of materials, excavation of contaminated soils, and reclamation measures. It notes minimal changes since 2020 and applies an inflation factor to estimated costs.

. was approximately 2.0 percent higher than for T&D utilities since January 2023. This highlights the greater risk of companies with regulated generation assets relative to those with T&D only assets. One additional risk that NSPI bears du...

AI summary Nova Scotia Power Inc. (NSPI) faces higher risk due to its regulated generation assets and carbon transition risks from its thermal generation facilities. The company must navigate environmental policies and decarbonization initiatives as it transitions to renewable energy sources, aligning with provincial and federal commitments to reduce carbon emissions and increase renewable energy use.

Evergreen IRP - Assumptions - 2030 targets(80% RES, coal phase out) base case - Federal Carbon Pricing - Fuel availability and pricing - Capital and operating cost assumptions - Load profile and electrification assumptions - Renewable inte...

AI summary The document outlines key assumptions for the Evergreen Integrated Resource Plan (IRP), including 2030 renewable energy targets, federal carbon pricing, fuel availability, capital and operating costs, load profiles, electrification, renewable integration, import potential, and emerging technologies such as SMRs and hydrogen.

- HFO/Bunker Fuel Consumed - Financial Instruments used for Hedging (including gains, losses, fees and interest charges) - Quality Testing and Inventory Measurement Costs - Standby Emergency Response Services and third party compliance pro...

AI summary The text outlines various costs and programs related to fuel consumption, financial hedging, quality testing, emergency response, transportation, and compliance with GHG emissions. These include standby emergency response services, third-party supervision, and transportation expenses such as rail, barge, and truck.

Highlights of the changes in fuel for generation and purchased power are summarized in the following table: For the Three months ended Six months ended millions of dollars June 30 June 30 Fuel for generation and purchased power –2024 $ 192...

AI summary The text summarizes changes in fuel for generation and purchased power for 2024 and 2025, including factors such as changes in generation mix, sales volumes, carbon tax, and commodity prices. It also references the FAM and FAM Regulatory Deferral.

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 NSPI, NSP Maritime Link and the Labrador Island Link;...

AI summary The text discusses the forecasted capital spend by Emera in 2024-2026, including a $240M equity investment in the Labrador Island Link (LIL). It also highlights the Polk Power Station's potential for Carbon Capture and Sequestration (CCS) and clean hydrogen production, supported by a $5.6M USD grant from the DOE and favorable economics under the 45Q production tax credit.

Environment, Social and Governance 41% Reduction in CO2emissions since 2005 1 $18 M invested in our communities 45% of Emera's Board of Directors are female1,2 Includes the Board Chair

AI summary The document highlights a 41% reduction in CO2 emissions since 2005, $18 million invested in communities, and 45% female representation on Emera's Board of Directors, including the Board Chair.

How we'll get there We'll seek to achieve these goals and realize our net-zero vision by adopting emerging technologies and working constructively with policymakers, regulators, partners, investors, and our communities. All while staying f...

AI summary The document outlines strategies to achieve net-zero goals through emerging technologies, collaboration with stakeholders, and investments in cleaner energy. Key efforts include reducing coal use and emissions, investing in renewable energy, and improving grid reliability.

2024-2026 Additional Potential Investments 2024F 2025F 2026F 2024–2026 Total US OPERATIONS Tampa Electric: Carbon Capture & Sequestration $ - $ - $ 275 $ 275 Tampa Electric: Incremental Renewables - 95 140 235 Peoples Gas: Other - 35 35 11...

AI summary The text outlines additional potential investments from 2024 to 2026, both in US and Canadian operations, with a focus on renewable energy, carbon capture, and storage projects. The investments are presented in USD and CAD, with FX rate assumptions provided for conversion.

Polk Carbon Capture & Sequestration – Tampa Electric • Notified in November 2023 of a third DOE award which will provide 80% co-funding on up to US$110M to perform seismic surveying and drill two test wells

AI summary Tampa Electric was notified in November 2023 of a third DOE award providing 80% co-funding for seismic surveying and drilling two test wells under the Polk Carbon Capture & Sequestration project, up to US$110M.

2024-2026 $8.8B CAPITAL SPEND 1 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 Carbon Cap...

AI summary The document discusses a projected $8.8 billion capital spend from 2024 to 2026, including opportunities for Carbon Capture and Sequestration (CCS) and Clean Hydrogen production at the Polk Power Station. The project has received funding from the Department of Energy (DOE) and is expected to benefit from the 2022 Inflation Reduction Act, with investment potential reaching $1.2 billion USD.

How we'll get there We'll seek to achieve these goals and realize our net-zero vision by adopting emerging technologies and working constructively with policymakers, regulators, partners, investors, and our communities. All while staying f...

AI summary The document outlines strategies for achieving net-zero goals through technology adoption, collaboration with stakeholders, and investment in clean energy. It highlights progress since 2005, including a 47% reduction in CO2 emissions and a 77% reduction in coal use, along with a planned investment of over $5.2B in cleaner energy from 2024 to 2026.

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.

2026-2027 GRA OP-12 Attachment 1 Page 297 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2024F 2025F 2026F 2024–2026 Total US OPERATIONS Tampa Electric: Carbon Capture & Sequestration $ - $ - $ 275 $ 275 Tampa Electric: Incremental Ren...

AI summary The table outlines additional potential investments for US and CAD operations from 2024 to 2026, including projects like Carbon Capture & Sequestration by Tampa Electric and the Clean Power Plan by Nova Scotia Power. It also includes FX rate assumptions and total investment figures in both USD and CAD.

SEACOAST - Regulated by the FPSC - Intrastate natural gas transmission company offering services in Florida Note: All data as of December 31, 2023 Appendix Carbon Capture & Sequestration Polk Power Station presents a significant opportunit...

AI summary The document discusses Seacoast, a Florida-based intrastate natural gas transmission company regulated by the FPSC. It highlights opportunities at the Polk Power Station for Carbon Capture and Sequestration (CCS) and clean hydrogen production, including funding from the DOE and the potential for significant investment.

Continuing focus: - Newsolar + wind2 - Coal unitretirement (incl. fuel switching/ conversion) - Emerging technology 80% reduction in CO2 emissions and retirement of our last coal unit by end of 2040 Net-Zero CO2 emissions 1 Achieving our v...

AI summary The document outlines a commitment to achieving an 80% reduction in CO2 emissions and retiring the last coal unit by 2040, with net-zero CO2 emissions as a long-term goal. The plan includes reliance on external factors, government support, and emerging technologies. The reductions are measured against 2005 levels and include specific targets for Nova Scotia Power and Tampa Electric.

Continuing focus:5 - New solar + wind2 - Coal unit retirement (incl. fuel switching/ conversion) - Emerging technology 80% reduction in CO2 emissions and retirement of our last coal unit by end of 2040 Net-Zero CO2 emissions - 1 Achieving...

AI summary The document outlines a commitment to achieving an 80% reduction in CO2 emissions and retiring the last coal unit by 2040, as well as a net-zero CO2 emissions vision. These goals are conditional on external factors, regulatory approval, and the development of new technologies. The plan includes a focus on renewable energy, grid modernization, and cost-effective investments.

Notice of Annual Meeting of Common Shareholders and Management Information Circular 2026-2027 GRA OP-13 Attachment 1 Page 7 of 115 REDACTED (CONFIDENTIAL INFORMATION REMOVED) We successfully completed our $3.2 billion capital plan for 2024...

AI summary The company successfully completed its 2024 capital plan, which included new solar projects, RNG pipeline construction, and a grid-scale battery project. These efforts contributed to a 49% reduction in CO2 emissions and an 80% decrease in coal use since 2005. A new $20 billion capital plan through 2029 is outlined, focusing on reliability, resiliency, grid modernization, and renewable integration.

2024 Director Education Topic Date Participants Business and operations 1. Wildfire Risk February RSC and Board Chair 2. Fundamentals of Artificial Intelligence June Board Members 3. Advanced Analytics and Artificial Intelligence June Boar...

AI summary The document outlines the 2024 Director Education program, which includes topics such as wildfire risk, artificial intelligence, carbon capture and storage, climate-related risk, and regulatory updates. These sessions aim to provide strategic oversight and education for board members and related committees.

REDACTED 1 MW in 2026 and then to MW in 2027 which will result in a reduced reliance on solid 2 fuel generation in those years. 3 4 (b) The SO2 emissions CoV will also result in lower generation from natural gas as solid fuel 5 is forecast...

AI summary The document discusses projected energy generation and emissions trends from 2024 to 2027, noting reduced reliance on solid fuel and natural gas due to increased renewable energy. It also highlights lower GHG compliance costs in 2026 and 2027, and mentions modeling of surplus energy and bilateral energy purchases.

llenges associated with its high electricity rates, which could make it increasingly challenging to fully pass costs onto the ratepayers in a timely manner if costs rise more quickly than anticipated. In June 2019, NSPI filed a new three-y...

AI summary NSPI filed a three-year fuel stability plan in 2019, seeking an average annual fuel rate increase of 1.9%. The company expects to recover emission allowance costs under the Province's carbon cap-and-trade program, which took effect in 2019. The Equivalency Agreement with the federal government allows NSPI to comply with federal emission regulations through 2029. DBRS Morningstar expects NSPI to maintain adequate cash flow and a flexible dividend policy.

- Because of the delayed energy delivery from the Muskrat Falls Project, the approved interim assessment payment reflected NSPML's proposal to reduce the assessment related to the depreciation expense. - As NSPI recovered these costs as pa...

AI summary The document discusses NSP's financial adjustments related to the Muskrat Falls Project, including customer credits and withholding requirements tied to the Maritime Link Project. It also covers NSPI's compliance with carbon emission regulations, including the cap-and-trade program and the Equivalency Agreement with the federal government.

Environmental Regulation • In October 2017, the Province passed amendments to the Environment Act for the development of a capand-trade program for carbon emissions, which became effective on January 1, 2019, with an initial compliance per...

AI summary Nova Scotia passed amendments to the Environment Act in 2017 to implement a cap-and-trade program for carbon emissions, effective from 2019. The Province also mandated 80% renewable electricity sales by 2030 and phased out coal-fired generation by 2030. An Equivalency Agreement with the federal government was renewed in 2019, allowing NSPI to comply with federal regulations until 2029. Due to the pandemic, NSPI faced delays in meeting renewable energy targets, prompting an alternative compliance plan.

1 Adjusted for operating leases. ESG Factor ESG Credit Consideration Applicable to the Credit Analysis: Y/N Extent of the Effect on the ESG Factor on the Credit Analysis: Relevant (R) or Significant (S) Environmental Overall: Y R Emissions...

AI summary The text discusses ESG credit considerations for a utility issuer, focusing on environmental factors such as carbon and GHG costs and regulatory pressures. The analysis indicates that while emissions and waste are not considered significant risks, carbon-related regulatory pressures are relevant to the credit analysis. Other factors like resource scarcity, land impact, and climate risks are not deemed significant.

1 Adjusted for operating leases. ESG Factor ESG Credit Consideration Applicable to the Credit Analysis: Y/N Extent of the Effect on the ESG Factor on the Credit Analysis: Relevant (R) or Significant (S) Environmental Overall: Y R Do we con...

AI summary The document discusses ESG credit considerations, focusing on environmental factors such as carbon and GHG costs, and their impact on the issuer's financial and operational standing. It notes that while overall environmental considerations are relevant, specific risks like emissions, resource scarcity, and climate change are not deemed significant in this analysis.

17. OTHER CURRENT LIABILITIES As at December 31 December 31 millions of dollars 2024 2023 Accrued charges $ 61 $ 57 Accrued interest on long-term debt 41 41 Carbon tax payable 25 22 Sales taxes payable 11 11 Other 4 1 $ 142 $ 132 18. LONG-...

AI summary The section 'Other Current Liabilities' presents a table showing the amounts of various liabilities for the years 2024 and 2023, including accrued charges, interest on long-term debt, carbon tax payable, sales taxes payable, and other liabilities.

NSPI's fuel costs are affected by commodity prices and generation mix, which is largely dependent on economic dispatch of the generating fleet. NSPI brings the lowest cost options on stream first after renewable energy from IPPs including...

AI summary NSPI's fuel costs are influenced by commodity prices and the generation mix, which depends on economic dispatch, renewable energy from IPPs, and the NS Block. Thermal plant availability remained stable in 2024, supporting reliable energy delivery during the transition to renewable generation.

These and new or revised environmental laws, regulations, policies, or interpretations of those laws, regulations or policies could result in a Material Adverse Effect by, among other things, preventing or delaying the development of energ...

AI summary The text discusses potential Material Adverse Effects due to environmental laws and regulations, including delays in energy projects, restrictions on facilities, early retirement of coal-fired generation, compliance costs, and penalties for non-compliance. These effects could increase capital investments, impose operating costs, and affect the economic viability of certain operations.

- 9 determined by the NSIESO 1 These resource additions form a comprehensive strategy that allows for flexibility to accommodate 2 future uncertainties. Through the ongoing Evergreen IRP Action Plan & Roadmap items, NS 3 Power is closely m...

AI summary The document outlines NS Power's 2024 Path to 2030 report, which includes the 2030 Decarbonization Goals, the Province of Nova Scotia's 2030 Clean Power Plan, the creation of the NSIESO, and the Resource Development Plan elements necessary to achieve these goals. It also includes the IRP Action Plan and Roadmap Items supporting the 2030 Decarbonization Goals.

Environmental, Social, and Governance Checklist ESG Factor ESG Credit Consideration Applicable to the Credit Analysis: Y/N Extent of the Effect on the ESG Factor on the Credit Analysis: Relevant (R) or Significant (S) Environmental Overall...

AI summary The ESG Checklist discusses environmental credit considerations, focusing on carbon and GHG costs and their potential impact on the issuer's financial and operational standing. Other factors like resource scarcity, biodiversity loss, and climate risks are noted as not currently significant.

Avangrid GHG Emissions-Related Goals UI Supporting Actions GHG Scope 1 Emissions: • Rate of Return Ratio Comparison Between the Company's Proposal and Adjusted ACOSS with Alternative Revenue Allocation GHG Scope 2 Emissions: • Energy procu...

AI summary Avangrid outlines its GHG emissions reduction goals for scopes 1 and 2 by 2030, including initiatives such as energy efficiency, renewable electricity in corporate buildings, deployment of storage capacity aligned with Docket No. 22-06-05, investment in EV charging infrastructure aligned with annual RAM proceedings, and transitioning vehicle fleets to clean energy alternatives.

l’année (sauf un bien situé à l’étranger), représente, (c) storing or using captured carbon. (projet de selon le cas : CUSC) a) le coût en capital du bien qui est décrit (et, dans le cas d’un bien acquis avant le premier jour CCUS tax cred...

AI summary The text defines a CCUS tax credit and dedicated geological storage in the context of a carbon capture, utilization, and storage (CCUS) project. It outlines the conditions under which a taxpayer may claim a tax credit based on qualified expenditures related to the project.

and that is, at the time a relevant ex- a) de cette catégorie; penditure is incurred, b) la fraction du coût en capital du matériel à (a) capable of permanently storing captured carbon; double usage qui, selon le cas : (i) si le matériel e...

AI summary The text outlines requirements for carbon capture, utilization, and storage (CUSC) equipment, emphasizing the need for permanent carbon storage, authorization for storage under applicable laws, and exclusion of carbon use for enhanced oil recovery.

(a) the provinces of British Columbia, Saskatchewan non tenu de l’énergie que le matériel produit et and Alberta; and consomme dans le processus de production d’énergie), selon le dernier plan de projet pour (b) any other jurisdiction with...

AI summary The text defines dual-use equipment in the context of Carbon Capture, Utilization, and Storage (CCUS) projects, specifying criteria related to water usage and verification by the Minister of Natural Resources.

se totale d’eau devant être retournée au the CCUS project, is verified by the Minister of Natural matériel au cours de cette période, selon le der- Resources as being described in any of the following nier plan de projet pour le projet, pa...

AI summary The text discusses the verification process for the CCUS project by the Minister of Natural Resources, focusing on equipment not used for natural gas processing or acid gas injection and how energy generation and usage are assessed over the project review period.

cours de cette période (déterminée compte non ment that supports the qualified CCUS project indi- tenu de l’énergie électrique que le matériel rectly by way of an electrical utility grid) to directly consomme dans le processus de transmiss...

AI summary The text outlines criteria for determining the energy consumption of equipment related to qualified CCUS projects, including conditions for hydrogen production and the use of fossil fuels, with specific reference to the latest project plan.

CCUS veau matériel devraient distribuer) à des fins project, d’utilisation dans le cadre d’un projet de CUSC admissible au cours de la période totale d’exa- (ii) delivers, collects, recovers, treats or recirculates men du projet de CUSC et...

AI summary The text outlines requirements for equipment and activities related to a qualified CCUS project, including the distribution of water and energy, and the transmission of electrical energy. It specifies conditions based on the most recent project plan and the timing of expenditures.

(iv) is distribution equipment that distributes elec- C : trical or heat energy; a) si le moment où la dépense est engagée est pos- térieur à la deuxième période du projet, 0, (b) equipment that is physically and functionally inte- grated...

AI summary The text outlines the definition and classification of distribution equipment used in a CCUS process, including criteria for determining the allowable percentage of utilization based on the timing of expenditures relative to project periods.

istribution system, F : (iv) a cooling system, a) si le moment où la dépense est engagée est an- térieur à la deuxième période du projet, 0,25, (v) a process material storage and handling and distribution system, b) si le moment où la dépe...

AI summary The text outlines various systems and equipment related to process management and utility distribution. It also defines eligible carbon capture expenditures based on the timing of capital engagement during different project periods.

tion, s’entend d’une somme représentant le coût en capi- in paragraphs (a) or (b), tal engagé par le contribuable afin d’acquérir dans l’an- née, relativement à un projet de CUSC admissible du (ii) a building or other structure all or subs...

AI summary The text defines eligible CUSC (Carbon Capture, Utilization, and Storage) projects, focusing on the types of properties and equipment involved, including buildings used for installation or operation of CUSC equipment and assets used solely for carbon storage.

sources naturelles a confirmé comme étant un bien qui est décrit) (i) for the purposes of system integrity or safety, or a) soit à l’alinéa b) de la catégorie 57 de l’annexe (ii) incidental emission made in the ordinary II du Règlement de...

AI summary The text outlines conditions for eligible and non-eligible uses of captured carbon under the Carbon Capture, Utilization, and Storage (CCUS) framework, referencing specific tax regulations and project periods.

période du projet; preliminary CCUS work activity means an activity that C : is preliminary to the acquisition, construction, fabrica- tion or installation by or on behalf of a taxpayer of prop- a) si le moment où la dépense est engagée es...

AI summary The text defines preliminary CCUS work activity as activities preceding the acquisition, construction, or installation of property related to a taxpayer's CCUS project. It outlines different periods and the applicable percentage of allowable usage based on when expenses are incurred.

sport du car- (c) contains information required in guidelines pub- bone; lished by the Minister of Natural Resources; and c) une dépense admissible pour le stockage du car- (d) is filed with the Minister of Natural Resources, in bone; the...

AI summary The text defines qualified carbon capture expenditure for a taxpayer in a taxation year, relating to a qualified CCUS project, and outlines the jurisdictions where such projects may be located, including specific provinces and other designated areas within Canada and the United States.

des États-Unis pour lesquels une désignation par le A is, in respect of property acquired by the taxpayer in ministre de l’Environnement en vertu du paragraphe the year (other than property situated outside of (13) est en vigueur. (designa...

AI summary The text includes legal provisions related to income tax and designated jurisdictions, referencing the Fall Economic Statement Implementation Act, 2023, and mentions Carbon Capture, Utilization, and Storage (CUSC) in the context of property and taxation.

verified by the Minister of Natural Resources as CUSC, tel que confirmé par le ministre des Ressources being property described in) naturelles comme étant visé à l’un des alinéas suivants) : (i) paragraph (a) of Class 57 in Schedule II to...

AI summary The text discusses the classification of equipment under the Income Tax Regulations, particularly in relation to Carbon Capture, Utilization, and Storage (CUSC), and outlines specific criteria for equipment not intended for natural gas processing or acid gas injection.

matériel qui supporte indirectement ment in this subsection, or is acquired in rela- le projet de CUSC admissible à titre de réseau élec- tion to such equipment, the amount of energy trique), devrait appuyer directement, selon le cas : exp...

AI summary The text discusses the indirect support of equipment related to a qualified CCUS project, specifying that the energy produced should be used directly for the project, and outlines conditions for the use of materials and water returned from such projects.

processus de tion to such equipment, the mass of water ex- CUSC admissible, pected to be returned from a qualified CCUS project over the project’s total CCUS project re- (ii) distribue, recueille, récupère, traite ou recircule view period...

AI summary The text discusses the conditions under which equipment is considered admissible for a CCUS project, including water return expectations and electrical energy transmission requirements. The equipment must support the project or hydrogen production via electrolysis or from gas.

puyer le projet de CUSC admissible ou la produc- over the total CCUS project review period is of tion d’hydrogène par électrolyse ou à partir de gaz the total amount of electrical energy expected naturel tant que les émissions sont réduite...

AI summary The text discusses the criteria for determining the eligibility of equipment related to a Carbon Capture, Utilization, and Storage (CUSC) project, focusing on the transmission of electrical energy and the integration of auxiliary equipment in the context of CUSC.

equipment, the electrical or heat energy expect- (i) d’un système électrique, ed to be distributed by the existing and new equipment) for use in a qualified CCUS project (ii) d’un système d’alimentation en carburant, over the total CCUS pr...

AI summary The text outlines criteria for determining the eligibility of energy use in a qualified CCUS project, focusing on the percentage of electrical or heat energy expected to be distributed by existing and new equipment over the project review period, based on the project’s most recent plan.

fait en sorte que l’autre bien satisfait à la descrip- tion aux alinéas a) ou b) ou aux sous-alinéas (i) ou (a) if the time of the expenditure is before the sec- (ii); ond project period, 0.25, (b) if the time of the expenditure is during...

AI summary The text outlines a qualification for carbon storage expenditure in a taxation year, defining it as the capital cost incurred by a taxpayer to acquire property related to a qualified CCUS project, excluding property outside Canada. It also specifies different multipliers based on the timing of the expenditure within the project period.

plan de projet Plan qui vise un projet de CUSC et qui, à of a qualified CCUS project of the taxpayer, a property la fois : (other than property situated outside of Canada) that is a) s’appuie sur une étude initiale d’ingénierie et de (a) e...

AI summary The text outlines a project plan for a qualified Carbon Capture, Utilization, and Storage (CCUS) project, which includes requirements for engineering and design studies. It references the Income Tax Act and related legislation, specifically Section 35, and mentions the Fall Economic Statement Implementation Act, 2023.

es Income Tax Act Loi de l’impôt sur le revenu Section 35 Article 35 solely in a manner described in paragraph (a) of the b) décrit la quantité de carbone capté que le projet de definition of eligible use; and CUSC devrait prendre en charg...

AI summary The text references Section 35 of the Income Tax Act and discusses the description of eligible use, specifically relating to carbon capture, utilization, and storage (CUSC) projects. It outlines the verification process by the Minister of Natural Resources for property acquired before commercial operations.

(b) in any other case, the projected eligible use où : percentage for the third project period; A représente la quantité de carbone capté que le projet E is the projected eligible use percentage for the fourth de CUSC devrait, selon le der...

AI summary The text outlines formulas and percentages related to projected eligible use for different project periods, specifically focusing on carbon capture, utilization, and storage (CUSC) projects. It defines variables A, B, and C in relation to the amount of carbon captured and eligible use percentages for various timeframes.

néraliser et être stocké dans le béton en permanence a (a) qualified carbon capture expenditure; été émis par un professionnel ou une organisation qui, à la fois : (b) qualified carbon transportation expenditure; a) est accrédité comme org...

AI summary The text defines qualified carbon capture, transportation, storage, and use expenditures under the CUSC program. It outlines conditions for a qualified CCUS project, including accreditation requirements for verification organizations and compliance with international standards.

n dioxide in Canada for a period that is at least equal to the total b) satisfait aux exigences d’un organisme de contrôle CCUS project review period for the project; tiers qui est décrit dans la norme ISO/IEC 17020:2012 Évaluation de la c...

AI summary The text references a CCUS project review period and mentions amendments to the Income Tax Act and other legislation as part of the Fall Economic Statement Implementation Act, 2023.

es Income Tax Act Loi de l’impôt sur le revenu Section 35 Article 35 (b) an initial project evaluation has been issued by the fonctionnement de différents types d’organismes pro- Minister of Natural Resources, in the form and man- cédant à...

AI summary The text references the Income Tax Act, Section 35, which outlines conditions for projects related to Carbon Capture, Utilization, and Storage (CUSC), including initial project evaluations and eligibility criteria based on projected use percentages.

Electricity Regulations) égale à la période totale d’examen du projet de CUSC was on or before April 7, 2022, and pour le projet;

AI summary The text references a project related to Carbon Capture, Utilization, and Storage (CUSC), specifying that a period of examination was on or before April 7, 2022.

l’année civile suivante, or organization that (ii) chaque année civile de la période totale d’exa- (a) is accredited as a verification body, under ISO men du projet de CUSC, à l’exception d’une période 14034:2016, Environmental management...

AI summary The text outlines requirements for verification bodies under ISO standards for environmental technology verification and conformity assessment, specifically related to carbon capture, utilization, and storage (CUSC) projects.

various types of bodies performing inspection. (pro- (ii) entrepris dans le but de se conformer aux cessus de stockage dans le béton admissible) normes d’émissions qui s’appliquent ou s’applique- ront en vertu du Règlement sur la réduction...

AI summary The text defines a 'qualifying taxpayer' as a taxable Canadian corporation and outlines specified percentages for qualified carbon capture expenditures, depending on the time period, with different percentages for different years and conditions related to geological storage formations.

%, or a) en mesure de stocker en permanence le carbone capté; (C) after 2040, 0%, or b) autorisée et réglementée pour le stockage du car- (ii) other than directly from ambient air bone capté en vertu des lois de la juridiction désignée; (A...

AI summary The text outlines requirements and percentages related to carbon capture, utilization, and storage (CCUS) under a regulatory framework. It specifies storage capacity thresholds and timelines, as well as eligible expenditures for carbon transportation, storage, and use, with varying percentages depending on the time period.

ment au projet de CUSC du contribuable qui comprend, notamment, une activité préalable qui est, selon le cas : (ii) after 2030 and before 2041, 18 3/4%, or a) l’obtention des permis ou des autorisations régle- (iii) after 2040, 0%. (pource...

AI summary The text outlines the total CCUS project review period, which begins on the first day of commercial operations and ends on the last day of the fourth project period. It also lists activities that are part of the CCUS project review, including obtaining permits, initial design and engineering work, feasibility studies, and environmental assessments.

nistre des Ressources naturelles); d) les évaluations environnementales; e) le nettoyage ou l’excavation des terrains. (prelimi- nary CCUS work activity) utilisation admissible L’une ou l’autre des utilisations suivantes : 2021-2022-2023-2...

AI summary The text outlines preliminary activities related to Carbon Capture, Utilization, and Storage (CCUS), including environmental assessments and land cleanup. It also references the Fall Economic Statement Implementation Act, 2023, and mentions modifications to the Income Tax Act.

c) tout autre stockage ou utilisation qui n’est pas une utilisation admissible. (ineligible use)

AI summary This text outlines ineligible uses of carbon capture, utilization, and storage (CCUS) under the regulation, specifying that any other storage or use not classified as an eligible use is not permitted.

Tax credit Crédit d’impôt (2) Where a qualifying taxpayer files a prescribed form (2) Lorsqu’un contribuable admissible produit un formu- containing prescribed information on or before its filing- laire prescrit contenant des renseignement...

AI summary The text outlines a tax credit provision for qualifying taxpayers related to Carbon Capture, Utilization, and Storage (CCUS). It specifies that taxpayers who submit the required form by the due date are deemed to have paid a portion of their tax payable for the year, based on the cumulative CCUS development and refurbishment tax credits.

veloppement du CUSC du contribuable à la fin de l’an- née ou d’une année antérieure.

AI summary The text discusses the development of the CUSC (Carbon Capture, Utilization, and Storage) from the taxpayer's perspective at the end of a year or a previous year.

(11), au calcul du crédit d’impôt pour la remise en état du CUSC du contribuable à la fin de l’année. Changes to project or eligible use Changements au projet ou à l’utilisation admissible (6) A taxpayer with a qualified CCUS project shall...

AI summary The text outlines requirements for taxpayers with qualified CCUS projects to submit revised project plans to the Minister of Natural Resources within 90 days of certain events, such as a material change to the project, before the start of commercial operations.

après que le plan de projet révisé ait respect of the revised project plan, été soumis, mais avant que celui-ci n’ait émis une évaluation du projet révisé relativement au plan de (b) any determination under paragraph (a) is deemed projet r...

AI summary The text outlines procedural requirements for the Carbon Capture, Utilization, and Storage (CCUS) project, including the submission of a revised project plan, determination of whether the project is one or multiple, and the filing of project plans by taxpayers with the Minister of Natural Resources within 180 days of determination.

(b) the amount of a qualified CCUS expenditure of a b) le montant d’une dépense de CUSC admissible d’un taxpayer in a taxation year in respect of a CCUS contribuable dans une année d’imposition relative- project shall not include ment à un...

AI summary The text outlines rules regarding qualified CCUS expenditures, specifying that amounts incurred before 2022 or after 2040, and those related to previously used property or for which a tax credit was previously deducted, are not included in the qualified expenditure amount for a taxpayer in a taxation year.

s (B) au titre de laquelle un crédit d’impôt a été (other than an expenditure for repair or replace- déduit antérieurement en vertu du présent ar- ment of that property), or ticle par une personne relativement au bien au- quel se rapporte...

AI summary This text outlines conditions under which certain expenditures related to Carbon Capture, Utilization, and Storage (CCUS) are not eligible for investment tax credits, including prior deductions, expenditures for repair or replacement, and adjustments to the cost of a property under section 21.

(iii) the term “qualified expenditure” is to be read (ii) la mention au paragraphe 127(11.6) du para- as “qualified CCUS expenditure”; graphe 127(26) vaut mention du paragraphe 127.44(12), (e) if an expenditure of a taxpayer would be a qua...

AI summary The text defines 'qualified expenditure' as 'qualified CCUS expenditure' and outlines rules for determining when an expenditure is deemed to be incurred and property acquired in a specific taxation year. It also refers to a technical guide for determining whether a process is a CCUS process.

sources naturelles s’applique de manière concluante spect to engineering and scientific matters; en matière d’ingénierie et de science lorsqu’il s’agit de déterminer si un processus est un processus de CUSC, (g) if the taxpayer has failed...

AI summary The text discusses the application of the Natural Resources Act in engineering and scientific matters, particularly regarding the determination of whether a process qualifies as Carbon Capture, Utilization, and Storage (CUSC). It also outlines the consequences for taxpayers who fail to file a revised project plan by the required deadline.

es Income Tax Act Loi de l’impôt sur le revenu Section 35 Article 35 Repayment of assistance Remboursement d’un montant d’aide (10) If a taxpayer has, in a particular taxation year, re- (10) Lorsqu’au cours d’une année d’imposition donnée,...

AI summary This section of the Income Tax Act outlines the requirement for taxpayers who repay or no longer expect to receive non-government assistance used to reduce the capital cost of a property. The repaid amount must be added back to the capital cost for determining qualified CCUS expenditure.

XII.7, les règles ci-après s’appliquent relativement à la nated jurisdiction in subsection (1): définition de juridiction désignée au paragraphe (1) : (a) if the Minister of the Environment determines that a) si le ministre de l’Environnem...

AI summary This text outlines the conditions under which a jurisdiction may be designated for the purposes of carbon capture and storage regulations, based on the determination of the Minister of the Environment regarding the adequacy of environmental laws and enforcement.

et l’exploitation de projets de captage, de transport, d’uti- and storage capacity in Canada. lisation et de capacité de stockage du carbone au Canada. Tax shelter investment Abri fiscal déterminé (16) Subsections (2) and (3) do not apply...

AI summary The text discusses the exclusion of carbon capture, utilization, and storage (CCUS) projects from certain tax shelter provisions under section 143.2 if they involve a tax shelter investment related to property used in the project.

été précédemment exporté ou affecté à une utilisation non concernée par la technologie propre.

AI summary The text discusses the previous export or allocation of carbon capture, utilization, and storage (CCUS) to non-relevant uses, highlighting a potential misapplication of the technology.

designated work site in a taxation year of an incentive b) sinon, selon le cas : claimant means a work site where specified property of an incentive claimant is located during the year and in- (i) de la dernière convention collective inter...

AI summary The text defines key terms related to incentive claimants and eligible collective agreements, particularly in the context of taxation and credit entitlements for workers in specific industries, including CCUS projects.

signé à titre d’em- ployé d’un demandeur d’incitatif ou d’une autre per- specified property means property all or a portion of sonne ou société de personnes; the cost of which qualifies for a specified tax credit. b) dont le travail ou les...

AI summary The text defines 'specified property' and 'specified tax credit,' with the latter referring to the CCUS tax credit and the clean technology investment tax credit. It also outlines the characteristics of a 'covered worker,' excluding certain categories of employees.

miné au taux du crédit d’impôt réduit pour l’année de la demande. CCUS refurbishment credit Crédit pour la remise en état du CUSC (10) Subsection (9) does not apply in respect of a CCUS (10) Le paragraphe (9) ne s’applique pas relativement...

AI summary This text outlines provisions related to the CCUS refurbishment tax credit and the prevailing wage requirements for incentive claimants. It specifies that the reduced tax credit rate applies and that corrective measures must be taken if wage requirements are not met.

USC. (reporting taxation year) ly or indirectly, in a qualified CCUS project in respect of which $20 million or more of qualified CCUS expendi- année d’imposition de recouvrement Relativement à tures are expected to be incurred (based on t...

AI summary This text discusses amendments to the Income Tax Act related to qualified CCUS projects, specifying that a project must involve $20 million or more in qualified expenditures to be eligible for tax relief. The text is part of the Fall Economic Statement Implementation Act, 2023.

first project period, in respect of a CCUS project, means d’imposition de recouvrement et de la quatrième année the period that begins on the first day of commercial op- d’imposition de recouvrement. (recovery taxation year) erations — or,...

AI summary This text defines the first project period and first recovery taxation year in respect of a CCUS project, specifying the time frames based on the start of commercial operations or expected start date from the project plan.

irst recovery taxation year, in respect of a project peri- od of a CCUS project, means the taxation year that in- b) relativement au rapport annuel sur l’échange de cludes the last day of the first project period. (première connaissances d...

AI summary The text defines terms related to taxation years and project periods for a Carbon Capture, Utilization, and Storage (CCUS) project, including the first recovery taxation year and the fourth project period. It also outlines the conditions for the fourth recovery taxation year and defines a knowledge sharing CCUS project.

des quatre premières années civiles qui suivent (a) is expected to incur qualified CCUS expenditures l’année civile qui comprend le 30 juin visé au sous- of $250 million or more based on the most recent alinéa (i); project evaluation issue...

AI summary The text outlines requirements for qualified CCUS expenditures and the submission of knowledge sharing reports related to CCUS projects, including thresholds and timelines for reporting.

CCUS-ITC Technical Guidance Document referred to période de déclaration S’entend, à la fois : in paragraph (a). (rapport sur l’échange de connaissances) a) relativement au rapport sur l’échange de connais- sances de la construction et la r...

AI summary The document defines key terms related to the Carbon Capture, Utilization, and Storage (CCUS) Income Tax Credit (ITC), including 'knowledge sharing taxpayer,' 'project period,' and 'project start-up date,' which are essential for compliance with the reporting requirements associated with the CCUS-ITC Technical Guidance Document.

date means the day that is 120 days be- period) fore the first day of commercial operations. (jour du dé- but du projet) période de projet Relativement à un projet de CUSC, s’entend de la première période du projet, de la deuxième recovery...

AI summary The text defines key terms related to the recovery taxation year and project periods in the context of a CCUS (Carbon Capture, Utilization, and Storage) project. It outlines how the relevant project period corresponds to specific years of recovery taxation.

(c) in respect of the third recovery taxation year, the d) relativement à la quatrième année d’imposition de third project period; and recouvrement, de la quatrième période du projet. (rel- evant project period) (d) in respect of the fourt...

AI summary The text outlines definitions related to tax years, project periods, and reporting deadlines for climate risk and operations knowledge sharing reports, with a focus on carbon capture and utilization projects.

(a) in respect of the construction and completion b) si ce jour est postérieur au mois de septembre knowledge sharing report, the period that begins on d’une année civile, le 31 décembre de l’année civile qui the first day an expenditure f...

AI summary The text defines the reporting taxation year in relation to a CCUS project, specifying periods for knowledge sharing reports based on project expenditures and start-up dates, and setting a threshold of $250 million in eligible CCUS expenses.

was deducted, in respect of a CCUS jour des activités commerciales du projet. (knowl- project of the taxpayer; and edge sharing CCUS project) (b) each taxation year that quatrième année d’imposition de recouvrement Re- lativement à une pér...

AI summary The text discusses the taxation rules related to a CCUS project, specifying the second project period as the five calendar years following the end of the first project period and defining the second recovery taxation year in relation to the project.

d, re- first project period. (deuxième période du projet) lativement à un projet de CUSC : second recovery taxation year, in respect of a project a) du rapport annuel sur l’échange de connaissances period of a CCUS project, means the taxat...

AI summary This text defines key terms related to Carbon Capture, Utilization, and Storage (CCUS) projects, including the second and third project periods and their corresponding taxation years. It also references technical documents and guidelines issued by the Minister of Natural Resources.

recouvrement) technique visé à l’alinéa a). (knowledge sharing re- port) société exonérée S’entend d’une société qui, à un mo- ment donné, ne détient pas de participation, directement ou indirectement, dans un projet de CUSC admissible re-...

AI summary The text defines key terms related to carbon capture, utilization, and storage (CCUS) projects, including 'exempt corporation,' 'third recovery taxation year,' and 'knowledge sharing report.' These definitions are part of a regulatory framework for CCUS projects and their tax implications.

l’année d’imposition qui inclut le dernier jour de la troi- sième période du projet. (third recovery taxation year) troisième période du projet Relativement à un projet de CUSC, s’entend des cinq années civiles suivant la fin de la deuxièm...

AI summary The text outlines the rules for the recovery of a development tax credit related to a Carbon Capture, Utilization, and Storage (CCUS) project. It specifies that a taxpayer must pay a tax for a particular taxation year that includes the first day of commercial operations of the project or for any preceding year, equal to the amount by which their cumulative credit for the immediately preceding year exceeds their cumulative credit for the current year.

développement du CUSC pour l’année d’imposition don- née. Acceleration of recovery tax Accélération du recouvrement de l’impôt (3) If the actual eligible use percentage for a CCUS (3) Si le pourcentage réel d’utilisation admissible pour pr...

AI summary This section outlines the acceleration of recovery tax for CCUS projects, specifying that if the actual eligible use percentage is less than 10% for any period, the eligible use percentage is deemed nil, and subsequent project periods are included in the relevant project period for the taxation year.

Development credits recovery amount Montant du recouvrement des crédits pour le développement (4) If the projected eligible use percentage of a CCUS (4) Si le pourcentage d’utilisation admissible prévu d’un project for the relevant project...

AI summary The text outlines a rule related to the recovery of development credits for CCUS projects. If the projected eligible use percentage exceeds the actual percentage by more than five points, an additional tax is added to the taxpayer's liability.

amount of the taxpayer’s cumulative CCUS de- où : velopment tax credit for the taxation year that in- cludes the first day of commercial operations; A représente le montant du crédit d’impôt cumulatif pour développement du CUSC du contribu...

AI summary The text outlines the calculation of the taxpayer's cumulative CCUS development tax credit for the taxation year that includes the first day of commercial operations, detailing variables A, B, and C in relation to eligible use percentages and previously paid taxes.

e total of all amounts, each of which is the où : amount that is the taxpayer’s CCUS refurbishment tax credit under subsection 127.44(5) for the year or a A représente le total des montants représentant chacun previous taxation year; le mo...

AI summary The text outlines a tax credit calculation related to Carbon Capture, Utilization, and Storage (CCUS) refurbishment under subsection 127.44(5) of the Income Tax Act. It references the projected eligible use percentage for the relevant taxation year and defines variables A and B for the calculation.

Extraordinary eligible use reduction Réduction d’utilisation admissible extraordinaire (6) For the purposes of determining a taxpayer’s liability (6) Pour déterminer l’impôt à payer d’un contribuable en for tax under this Part for a taxati...

AI summary The text outlines conditions under which a taxpayer may qualify for a reduction in tax liability related to a qualified CCUS project due to extraordinary circumstances outside their control, provided they request consideration from the Minister before the filing-due date.

for (7) Lorsque les conditions énoncées au paragraphe (6) a taxation year, sont satisfaites pour une année d’imposition : (a) if the qualified CCUS project’s operations are af- a) si des circonstances extraordinaires ont un effet sur fecte...

AI summary This text outlines conditions under which a qualified CCUS project may be exempt from certain tax obligations if affected by extraordinary circumstances during the project period. If the project is significantly impacted, no amount is payable for the year. Otherwise, the affected portion of the project period is disregarded in calculating the eligible use percentage.

Shutdown Arrêt (8) For the purposes of determining a taxpayer’s liability (8) Pour déterminer l’impôt à payer d’un contribuable en for tax under this Part for a recovery taxation year, if a vertu de la présente partie pour une année d’impo...

AI summary This section outlines how the inoperability of a qualified CCUS project during a relevant project period affects a taxpayer's liability for tax under this Part for a recovery taxation year. If the project is non-operational for most of the period, no tax is payable. Otherwise, the non-operational period is disregarded when calculating the eligible use percentage.

Development property disposition Disposition des biens pour le développement (9) Except where subsection (11) applies, if at any time (9) Sauf en cas d’application du paragraphe (11), si, à un in a particular taxation year a taxpayer dispo...

AI summary The text outlines rules related to the disposition of property for development purposes, particularly in the context of Carbon Capture, Utilization, and Storage (CCUS) projects. It specifies that qualified CCUS expenditures are deemed not admissible for tax credit purposes if the disposition occurs before the total CCUS project review period.

être une dépense de CUSC admissible relativement au and any subsequent taxation years; and projet de CUSC lorsqu’il s’agit de déterminer le crédit d’impôt cumulatif pour le développement du CUSC du (b) if the time is during the total CCUS...

AI summary The text outlines a formula for calculating a tax adjustment related to qualified Carbon Capture, Utilization, and Storage (CCUS) expenditures, taking into account specific percentages and time periods during the CCUS project review.

Refurbishment property disposition Disposition de biens de remise en état (10) Except where subsection (11) applies, if at any time (10) Sauf en cas d’application du paragraphe (11), si à un in a particular taxation year during the total p...

AI summary This text outlines the rules for adding an amount to a taxpayer's tax liability when a property used in a CCUS project is disposed of or removed from Canada, based on a formula involving qualified CCUS expenditure and a specified percentage.

Election — CCUS project sale Choix — vente du projet de CUSC (11) If at any time a qualifying taxpayer (referred to in (11) Si, à un moment donné, un contribuable admissible this subsection as the “vendor”) disposes of all or sub- (appelé...

AI summary This section outlines the rules for the transfer of a CCUS project between a qualifying taxpayer (vendor) and another taxable Canadian corporation (purchaser), including the deemed transfer of qualifying expenditures and the application of the Act to the purchaser.

dor in respect of the property that are relevant to the b) les dispositions de la Loi qui s’appliquent au ven- application of the Act in respect of the property after deur relativement au bien et qui sont pertinentes pour that time are dee...

AI summary The text outlines that after a certain time, tax credits related to a CCUS project are deemed to have been claimed by the purchaser, and project plans prepared by the vendor are deemed to have been filed by the purchaser. The purchaser is also liable for amounts related to the property as if the vendor had undertaken post-time actions.

riode d’au moins trois ans suivant la date d’échéance du rapport. Shared filing Production partagée (3) If a person is required by subsection (1) to submit a (3) Si, en vertu du paragraphe (1), une personne est te- knowledge sharing report...

AI summary The text outlines the requirement for submitting a knowledge sharing report for a CCUS project, specifying that full and accurate disclosure by any person involved is deemed to be made by all persons to whom the requirement applies.

ncome Tax Act Loi de l’impôt sur le revenu Sections 58-59 Articles 58-59 Administration Administration 211.94 Subsection 150(2) and (3), sections 152, 158, 159 211.94 Les paragraphes 150(2) et (3), les articles 152, and 161 to 167 and Divi...

AI summary This text discusses the application of specific sections of the Income Tax Act, particularly sections 58-59, and how they apply to the administration of tax credits related to Carbon Capture, Utilization, and Storage (CCUS). It outlines modifications to these sections for the purpose of determining balance-due days for taxpayers with CCUS tax credits.

(iii) generates or distributes electrical energy, heat energy or a combination of electrical and heat ener- (iii) produit ou distribue de l’énergie électrique, de gy, that directly and solely supports a qualified l’énergie thermique, ou un...

AI summary The text defines equipment that supports qualified CCUS projects, specifying that it must directly and solely support such projects, excluding equipment that uses fossil fuels not captured by CCUS or expands distribution capacity for CCUS projects.

3.2.1 Natural Gas - Natural Gas Consumed - Financial Instruments used for Hedging (including gains, losses, fees and interest charges) - Pipeline Reservation Fees, Tolls, Penalties (such as imbalance charges) - Pipeline Losses - Natural Ga...

AI summary The section outlines various financial and operational aspects related to natural gas, including consumption, hedging instruments, pipeline costs, storage fees, and GHG emission compliance program costs.

1 appendix Exhibit N-8, Appendix 10(a), and we'll go to 2 PDF page 92, which is page 60 of your report at the 3 bottom. 4 You're there on page 60? 5 A. (Coyne) Yes, I'm with you, Mr. 6 Deveau. 7 Q. So here is basically where you're 8 getti...

AI summary The discussion centers on carbon transition risk, specifically the shift from coal generation to renewable energy sources and the implications for existing assets. The witness confirms the focus on this transition and its impact on business risk.

1 A. (Coyne) I'm with you, Mr. Deveau. 20 21 22 23 24 25 26 27 The business risk of NSPI remains elevated as it was at the time of the last GRA in 2022. In particular, the Company must comply with environmental requirements related to an a...

AI summary The discussion highlights the elevated business risk for NSPI due to environmental requirements for decarbonizing its generation fleet by 2030. The transition to renewable resources is ongoing and will require significant capital investment, exposing NSPI to various risks.