N-1Affiliate Code of Conduct 2025 Report - Redacted
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NS Power Affiliate Code of Conduct 2025 Report REDACTED 1 1.0 INTRODUCTION 2 3 In December 2019, following an extensive review process, the Nova Scotia Utility and Review 4 Board (as of April 1, 2025 referred to as the Nova Scotia Energy B...
AI summary The 2025 Annual Affiliate Code Report outlines NS Power's compliance with the 2020 Affiliate Code and updated Cost Allocation Manual (CAM). The report highlights transparency in affiliate transactions, regulatory oversight by the Nova Scotia Energy Board (NSEB), and mandatory training programs for employees. Revised CAM documents (M10571, M11107) were approved in 2022 and 2024, respectively.
1 2.0 OVERVIEW OF TRANSACTIONS WITH NSPEMI 2 3 NSPEMI was set up so that NS Power could purchase natural gas and electricity in the U.S. without 4 having to engage a third party (or Emera Energy) to facilitate U.Sbased transactions. Using...
AI summary NSPEMI is a 100% NS Power-owned subsidiary that facilitates U.S.-based transactions for NS Power, eliminating the need for third-party involvement. It does not have employees or retain income, with costs passed through to NS Power. Transactions are subject to a pricing exception approved by the Board in M08911. In 2025, NSPEMI sold natural gas for NS Power and purchased electricity and natural gas for NS Power, with detailed transactions listed in appendices.
1 3.1 Year-over-year comparison of NS Power charges to NSPML 2 - 3 NS Power charges to NSPML in 2025, as shown in Figure 4 , were $0.1 million lower than in - 4 2024. This decrease is attributable to a number of factors including a decreas...
AI summary NS Power charges to NSPML decreased by $0.1 million in 2025 compared to 2024, driven by lower Labour and Expenses, Corporate Transactions, and M&A Services, partially offset by increases in Goods and Services and Flow Through transactions.
11 Figure 4: NS Power charges to NSPML 2025 vs. 2024 12 13
AI summary Figure 4 compares NS Power's charges to NSPML in 2025 versus 2024, highlighting changes in financial obligations between the entities. The analysis focuses on cost considerations related to energy marketing and power distribution.
6 Figure 7: NS Power Charges to Affiliates 2025 vs. 2024 7
AI summary Figure 7 compares NS Power's affiliate charges for 2025 and 2024, illustrating changes in costs and potential regulatory implications. The analysis focuses on financial flows between NS Power and its affiliates, relevant to regulatory oversight and cost allocation practices.
2025 Affiliate Code of Conduct Report Appendix B Page 2 of 3 Corporate Objective Targets Weighting (%) Result Approved Payout (%) Asset Management Operate, maintain and invest in the assets serving our customers to foster trust through imp...
AI summary This document outlines the 2025 Affiliate Code of Conduct Report Appendix B, which includes corporate objectives related to asset management and financial sustainability. Targets and results for cost reduction, outage duration, net income, and cash flow from operations are detailed, with some targets not being met.
Appendix C 2025 Utility Performance Report Category Measure 2025 2024 2023 Notes the CAM. Each M&A Service is allocated individually as specified in section 14.0 of Feb-25 3267654 Nova Scotia Limited (Terminal Road) 5112 9S-10-R 9S M & A S...
AI summary The text presents a portion of the 2025 Utility Performance Report, detailing various transactions and allocations related to M&A services, including sales and purchases with pricing exceptions and references to the Cost Allocation Manual (CAM). Notes mention sublease rates and specific sections of the CAM.
(Y/N) Reference Period Company InterCo ID Tag Pricing Exception Line Description Amount Purchase/Sale FMV/FAC/Pricing Exception Explanation Aug-25 Tampa Electric 6P-80 6P TECO Audit charges Labour ($1,556) Purchase FAC Sep-25 Tampa Electri...
AI summary The document outlines various financial transactions and adjustments made by companies such as Tampa Electric and Emera Inc. during specific periods, including audit charges, incentive payouts, and corporate allocations. These transactions are categorized under Fair and Appropriate Cost (FAC) and include details on non-regulated adjustments and affiliate transactions.
FAC is determined based on sections 6.0 and 7.0 of the CAM. Labour and expense costs are determined based on sections 10.0 and 11.0 of the CAM and include FAC is determined based on sections 6.0 and 7.0 of the CAM. Labour and expense costs...
AI summary The document discusses how FAC (Fair and Appropriate Cost) is determined based on specific sections of the CAM (Cost Allocation Manual), including labour and expense costs outlined in sections 10.0 and 11.0.
Date Nova Scotia Power Energy Marketing Inc. (NSPEMI) Jan-25 Nova Scotia Power Energy Marketing Inc. (INSPEMI) 1S-25 1S NG Sale Sale Pricing Exception Jan-25 Nova Scotia Power Maritime Link (NSPML) 5068 5S-120 5S CCO NSPML Preventative Mtc...
AI summary The document outlines several sales and pricing exceptions related to Nova Scotia Power Maritime Link (NSPML) and Nova Scotia Power Energy Marketing Inc. (NSPEMI), including costs determined based on the Cost Allocation Manual (CAM) and specific sections related to Corporate Overhead, Non-productive Rate, and M&A Services.
2025 Affiliate Code of Conduct Report Appendix D(11) Page 1 of 1 Ch ider Flo w T hro ugh es P arg rov Ch ecei Flo w T hro ugh es R arg ver Sho ipti rt D escr on ipti Lon g D escr on Cdn Do llar s Emera Inc. NS Power ShareWorks Subscription...
AI summary The document outlines various financial transactions and expenses between Emera Inc., NS Power, and other entities, including subscription fees, trust company fees, consulting services, and stock options expenses. These items are part of the 2025 Affiliate Code of Conduct Report and are categorized under different pricing mechanisms.
2025 Affiliate Code of Conduct Report Appendix H Page 2 of 35 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Code Sections NS Power Employee Guidance Many routine transactions can be considered as Pricing Exceptions. Refer to Section 6.3 of t...
AI summary This document discusses routine transactions considered as Pricing Exceptions under Section 6.3 of the Code and refers to Section 6.2.1 of the Code and Section 15.0 of the Cost Allocation Manual (CAM).
Code Sections NS Power Employee Guidance FAC should include all of the costs incurred that can be specifically attributed to producing goods, rendering services, providing labor or operating and maintaining assets, including, but not limit...
AI summary The document outlines guidelines for Fully Allocated Costs (FAC) in NS Power operations, specifying that FAC must include all attributable costs like salaries, overhead, and depreciation. Direct charges apply to single Affiliates, while multi-Affiliate costs require allocation based on causal links. FAC calculations must be detailed in annual budgets, the CAM, and Affiliate Code of Conduct Reports, with true-ups using actual FAC if budget estimates were used for monthly charges.
6.2.4 Determining Cost of Personnel Determining the cost of personnel incurred by NS Power or an Affiliate providing any service shall be based on the amount of time specifically spent by an employee of NS Power or an Affiliate to provide...
AI summary The section outlines methods for calculating personnel costs for NS Power and affiliates, emphasizing time tracking, beneficiary designation, and FAC allocation. It references procedures for M&A services, direct charging, and statistical allocators, using systems like PeopleSoft for hourly rate data.
2025 Affiliate Code of Conduct Report Appendix H Page 20 of 35 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Code Sections NS Power Employee Guidance period. The cost of personnel will include the Labour Overhead Application Rate. All costs...
AI summary The document outlines guidelines for allocating personnel costs to clients, emphasizing direct charging where possible, followed by allocation based on specific cost drivers. If neither is feasible, general allocation factors may be used. Corporate overhead and non-productive rates are referenced for cost calculations.
NS Power's FACs plus, if applicable, the price charged by a third-party supplier with which NS Power is working jointly (How to determine FAC is detailed in Code section 6.2.3)
AI summary The document outlines NS Power's Fully Allocated Costs (FACs) and, if applicable, the pricing from a third-party supplier with which NS Power collaborates. Determining FACs is referenced in Code section 6.2.3, highlighting the regulatory focus on cost structures and potential joint supplier pricing mechanisms.
NS Power's self-provisioning costs or the cost of joint provisioning with a third-party supplier, if applicable (Attach any relevant documentation about how self-provisioning costs were determined)
AI summary The document requests documentation on how NS Power's self-provisioning costs or joint provisioning costs with third-party suppliers were determined, focusing on cost allocation methodologies and regulatory compliance.
Affiliate's FACs plus, if applicable, the price charged by a third-party supplier with which the Affiliate is working jointly (The Affiliates FAC is only required when FMV could not be established by any means)
AI summary The Affiliate must use Fully Allocated Costs (FACs) when Fair Market Value (FMV) cannot be determined, with an exception for third-party supplier pricing in joint arrangements. This applies to cost allocation scenarios where FMV is not establishable.
Affiliate Code Sections 6.2, 6.3.5 and 7.1.2
AI summary The document references sections 6.2, 6.3.5, and 7.1.2 of the Affiliate Code, likely discussing regulatory guidelines for affiliate transactions and cost allocation under Nova Scotia's utility oversight framework.
Affiliate Exemptions on Labour Transactions Between NS Power and NSP Maritime Link Incorporated (NSPML) The Affiliate Code provides an exemption to the pricing provisions on transactions between NS Power and NSPML. However, NS Power charge...
AI summary The Affiliate Code allows NS Power to exempt transactions with NSPML from pricing provisions, but NS Power applies overhead and non-productive adders to avoid stranded costs and financial distortion. This practice aligns with the Cost Allocation Manual (CAM).
Non-Productive Rate Not Required for Employees Completing Long-Term Work Assignments The Non-Productive rate, as specified in the CAM, is intended "to recover employees' paid absences when they are unavailable to work and includes vacation...
AI summary The Non-Productive rate in the CAM is not applied to employees on long-term assignments with NS Power or Affiliates, as their paid absences are already included in payroll reports, avoiding double charging. This practice is compliant with the CAM.