N-12025 Annual Financial Statements - Redacted
8 passages
2025 Annual Financial Statements Attachment 3 Page 22 of 30 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cyberattacks or unauthorized access may cause lost revenues, costs, losses, regulatory penalties and third-party damages all, or some o...
AI summary The document outlines cybersecurity risks to the Company, including financial losses, regulatory penalties, and third-party damages, which may not be recoverable. It highlights the Company's mitigation strategies, such as adhering to cybersecurity standards, conducting assessments, and hiring experts, while noting compliance with NSEB-approved regulations and quarterly reporting to the Board of Directors.
2025 Annual Financial Statements Attachment 4 Page 8 of 24 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Incorporated – Management Information Circular 2026 - Under the Company's Articles of Association, Directors are requi...
AI summary The document outlines Nova Scotia Power Incorporated's (NSPI) corporate governance policies, requiring directors to declare conflicts of interest and prohibiting voting in such matters. Emera's Code of Conduct further restricts ownership and business relationships exceeding 10% without prior approval from NSPI's leadership or Board.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This AIF, including the documents incorporated herein by reference, contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities l...
AI summary This cautionary note from NSPI highlights forward-looking information, including financial projections, carbon reduction goals, and operational assumptions, while emphasizing that such statements are not guarantees and may be affected by regulatory approvals, operational disruptions, and other risks.
Compliance and Permits In addition to imposing continuing compliance obligations, there are laws, regulations and permits authorizing the imposition of penalties for non-compliance, including fines, injunctive relief and other sanctions. T...
AI summary The document highlights NSPI's compliance with environmental and regulatory obligations, noting that non-compliance risks material adverse effects. Audits found no significant issues, but recent environmental developments and legislative changes pose challenges. NSPI is engaging stakeholders to meet targets while addressing affordability concerns.
Other Legislation In November 2023, the Province enacted amendments to the Electricity Act which permit the Governor in Council to approve energy storage projects proposed by a public utility and owned wholly or in majority by the public u...
AI summary In 2023, Nova Scotia amended the Electricity Act and Public Utilities Act to expand energy storage project approvals, increase penalties for NSPI noncompliance, and enable RFPs for energy storage. Amendments also empower the Province to mandate power purchase agreements for renewable generation, with NSPI managing transmission and sales. The Governor in Council directed NSPI to install grid-scale batteries.
2025 Annual Financial Statements Attachment 5 Page 23 of 26 REDACTED (CONFIDENTIAL INFORMATION REMOVED) agreement with a securities regulatory authority, or are subject to any penalties or sanctions imposed by a court or regulatory body th...
AI summary The text discusses compliance with securities regulations, emphasizing the importance of disclosing agreements with regulatory authorities and potential penalties that could affect investor decisions. Due to redaction, specific details are omitted.
2025 Annual Financial Statements Attachment 6 Page 25 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder infor...
AI summary BLPC appealed FTC rate decisions to the Supreme Court of Barbados, seeking a stay granted in December 2023. BLPC argues FTC erred in law and jurisdiction, with a 2026 decision expected. New non-exclusive T&D and G&S licenses (valid until 2047 and 2028) were agreed upon in 2025, pending repeal of the existing license.
Change in Law Risk The Company is also exposed to changes in the political environment and leadership, changes in law or regulations, changes to governmental policies, trade disputes, and the imposition of tariffs, any of which may impact...
AI summary The Company faces risks from political, legal, and regulatory changes, including deregulation, policy shifts affecting natural gas use, and data center laws. These may cause Material Adverse Effects, increased competition, and compliance challenges. Emera cannot predict future changes, making timely responses difficult.
N-2Refiled Statements - NSPI - Redacted
6 passages
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 faces environmental regulations requiring capital investment for renewable energy integration, with estimated costs of $81M in 2026 and $111M from 2027-2030. Compliance is material, and failure could harm the company. No significant compliance issues were found in audits as of December 31, 2025.
NSPI received a Certificate of Variance from NSECC on March 25, 2025, which provides flexibility on the timing of SO2 emissions over the 2025 through 2034 period, including compensating for the excess 14,410 tonnes of SO2 emissions in 2022...
AI summary NSPI received a Certificate of Variance allowing flexibility in SO2 emissions timing from 2025 to 2034. Environmental regulations could lead to higher compliance costs, delays in infrastructure, and stranded assets. Non-compliance risks legal penalties and Material Adverse Effects.
2025 Annual Financial Statements Attachment 5 Page 4 of 26 REDACTED (CONFIDENTIAL INFORMATION REMOVED) generation; no severe and/or prolonged downturn in economic conditions; sufficient liquidity and capital resources; the continued abilit...
AI summary The document outlines forward-looking information for NSPI, highlighting key assumptions and risks affecting its operations, including regulatory, economic, environmental, and market-related factors. It emphasizes uncertainties such as changes in laws, commodity prices, credit ratings, and technological developments that could impact performance.
Environmental Matters NSPI is subject to environmental laws and regulations as set by both the Government and the Province. The Company continues to work with both the Government and the Province to comply with these laws and regulations t...
AI summary NSPI must comply with environmental laws and regulations set by the Government and Province. The company aims to maximize emission control efficiency and minimize customer costs, with the expectation that prudently incurred costs for emission reductions will be recoverable under its regulatory framework.
Compliance and Permits In addition to imposing continuing compliance obligations, there are laws, regulations and permits authorizing the imposition of penalties for non-compliance, including fines, injunctive relief and other sanctions. T...
AI summary The text discusses the importance of compliance with environmental laws and regulations for NSPI, noting that non-compliance could have a material adverse effect. It also mentions recent environmental developments and NSPI's engagement with stakeholders to achieve environmental goals while focusing on customer affordability.
FLI is based on reasonable assumptions and is subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or results anticipated by the FLI. Factors that could cause result...
AI summary Forward-looking information (FLI) is subject to various risks and uncertainties that could cause actual results to differ significantly from expectations. These include regulatory, economic, environmental, technological, and operational risks, among others.