E-1Financial Statements for Year Ended December 31, 2018 - Redacted
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Fund accounting - a) The Demand‐Side Management Fund ("DSM") is used to account for the operations of the Corporation including reporting the fee‐for‐service revenues as received from NS Power with expenses approved annually by the Nova Sc...
AI summary The text outlines the structure and use of various funds managed by the Corporation, including the Demand-Side Management Fund, Provincial Fund, Commitment Fund, and Other Business Fund. Each fund serves distinct purposes, such as managing fee-for-service revenues, covering capital asset costs, and accounting for future incentive payments.
To be consistent with the expense recognition policy, the Commitment Fund has been established to record these incentives as an expense and provide an offsetting liability. In future years, these incentives will be recognized as an expense...
AI summary The Commitment Fund records energy efficiency incentives as expenses and liabilities, with 2018 commitments totaling $13,027. Residential and BNI programs are analyzed, with estimates based on historical data, preapproved applications, and rebate rates. DSM and Provincial Fund shares are detailed.
The UARB requested that the Corporation assess the viability of external financing of NS Power's DSM deferral balance of $35,000 from 2015 ("2015 DSM Deferral"). The Corporation determined that such external financing could result in savin...
AI summary The UARB requested NS Power to assess external financing of a DSM deferral balance from 2015, which led to a loan arrangement with TD. The Corporation borrowed funds from TD and advanced them to NS Power, with NS Power obligated to repay the Corporation in equal monthly payments. A second loan was finalized in 2017 for accrued returns on the deferral balance.
12. CONTINGENCIES (in thousands) The Corporation has an agreement with NS Power to extend financing to certain BNI customers participating in either the Small Business Energy Solutions, BNI Custom, or Business Energy Rebates programs. Thos...
AI summary The Corporation has a financing agreement with NS Power to support BNI customers in energy programs. The Corporation is contingently liable for defaults, with $2,635 in extended financing as of December 31, 2018.
ii) Accounts receivable and loan receivable Credit risk associated with accounts receivable is mitigated by the fact that the majority of receivables outstanding are from NS Power, which is a regulated public utility, mandated by its regul...
AI summary The credit risk for accounts receivable is low due to the majority of receivables being from NS Power, a regulated public utility required by its regulator to fund DSM activities.
EfficiencyOne Statement of Operations & Changes in Fund Balance - Details by GL Account - Demand-Side Management (DSM) Fund For the Year Ended December 31, 2018 GL Account GL Account Description Financial Statement Grouping GL Balance 4000...
AI summary The document presents the EfficiencyOne Statement of Operations & Changes in Fund Balance for the Demand-Side Management (DSM) Fund for the year ended December 31, 2018. It details revenue, incentives, evaluation, and program support expenses, including amounts related to customer rebates, program implementation, and IT costs.