Topic:"Cost Recovery" in M13113

First-Year Funding and Financial Performance In our first year, to fund all of this critical work, IESO Nova Scotia secured $2.7 million in provincial start-up funding, and $5.3 million in annual revenue requirement approved by the Nova Sc...

AI summary IESO Nova Scotia secured $2.7 million in provincial start-up funding and $5.3 million in annual revenue requirement approved by the NSEB. Operational spending was $0.3 million less than the approved budget, with unused funds returning to customers. Interim and enduring fee mechanisms were established for future operations, emphasizing cost management and value delivery.

²IFRS adjustments are (1) to convert the accounting treatment of the long-term office lease to a cash basis ($0.021 million) and (2) to remove amortization charges that relate to assets not included on the revenue application ($0.085 milli...

AI summary IESO Nova Scotia faced a $3.169 million deficit in its 2025-26 financial statements due to the lack of an approved fee recovery mechanism, despite having a small surplus. An interim fee mechanism was approved in February 2026, providing $0.95 million per month. The revenue shortfall is being collected in fiscal year 2026-27, and a new revenue requirement application for 2026-27 was submitted to the NSEB.