Topic:"Demand Side Management" in M11094

Fund accounting a) The Demand-Side Management ("DSM") Fund is used to account for the operations of the Corporation including the fee-for-service revenues received and expenses incurred for the delivery of DSM programs and services. The Su...

AI summary The text outlines three funds used by the Corporation for accounting purposes: the DSM Fund, PNS Fund, and Other Business Fund. Each fund is restricted to specific operations and associated revenues, with interest income retained within the respective fund for its designated uses.

Efficiency Nova Scotia Revenue Effective January 1, 2020, the Corporation entered into a three-year supply agreement with NS Power to provide demand-side management. The agreement provided funding of $110,000 over three years in monthly in...

AI summary Efficiency Nova Scotia entered into two supply agreements with NS Power for demand-side management and energy efficiency activities. The first agreement, effective January 1, 2020, provided funding of $110,000 over three years, while the second agreement, effective January 1, 2023, provides $173,000 over three years for DSM activities.

5. LOAN RECEIVABLE/PAYABLE The NSUARB 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 fi...

AI summary The NSUARB requested the Corporation to assess external financing for NS Power's 2015 DSM Deferral balance. The Corporation borrowed funds from TD and advanced them to NS Power, with repayment obligations tied to NS Power's monthly payments to TD. Two loan arrangements were made in 2016 and 2017, with total remaining obligations of $5,007 principal and $72 interest.

10. COMMITMENTS a) In the course of business, the Corporation approves customer applications that offer future incentive payments based on the completion of program criteria within a specific time frame. The value of these commitments is e...

AI summary The Corporation approves customer applications with future incentive payments based on program criteria completion. The estimated value of these commitments is $34,662 as of December 31, 2022, with shares allocated to the DSM Fund and PNS Fund.

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, 2022 GL Account GL Account Description Financial Statement Grouping GL Balance Dire...

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, 2022. It includes revenue, incentives, evaluation, verification, program support, and bad debt expenses categorized by GL account.

Statement of Financial Position - Details by GL Account - Demand-Side Management (DSM) Fund As at December 31, 2022 GL Account GL Account Description Financial Statement Grouping GL Balance Assets 1070 BMO - DSM Account Cash 9,440 1095 TD...

AI summary The document presents a Statement of Financial Position for the Demand-Side Management (DSM) Fund as of December 31, 2022, detailing the fund's assets by GL account. It lists cash, accounts receivable, prepaid expenses, and loan receivables, with a total asset value of $15,761.

M11094 EfficiencyOne Responses to Information Requests (RIRs) E1 (NSUARB) RIRs 01-11 FILED July 12, 2023 Request IR-01: With regards to the Consolidated Statement of Operations, Demand Side Management Fund: (a) Please provide an explanatio...

AI summary EfficiencyOne provided responses to information requests regarding increases in incentives, bad debt, and salaries and benefits costs between 2021 and 2022. The increase in incentives is attributed to higher energy savings and program participation. Bad debt increased due to an allowance established for anticipated losses from financing arrangements. Salaries and benefits increased, but no specific employee change was mentioned.

Utility and Review Board and reported annually through EfficiencyOne's Compliance Report. Please also refer to EfficiencyOne's response to NSUARB IR-02. i) Please refer to EfficiencyOne's IR response in (e). (f) Please refer to EfficiencyO...

AI summary The text discusses financial reporting and revenue explanations for EfficiencyOne, including increases in fee-for-service revenue related to the DSM fund and Provincial Fund, as well as discrepancies in recognized revenue versus agreement funding. It references previous responses to NSUARB IR-02 and requests detailed operational statements for 2022 programs and grants.

Request IR-09: - With regards to Note 11 to the Consolidated Financial Statements – Significant Events, please - explain what the impact to the 2022 financials was as a result of the COVID-19 pandemic. Response IR-09: - In 2022, Efficiency...

AI summary EfficiencyOne's 2022 financial results showed recovery to near pre-pandemic levels, but the pandemic continued to negatively impact specific programs like the Mi'kmaw Home Energy Efficiency Project and Business Energy Rebates due to delays, supply chain issues, and service pauses. Risk exposure has increased due to changes in financial instruments used by non-regulated funds, but no specific events related to the DSM Fund have increased risk.

canada.ca/my-cra-business-acco unt. 1 Request IR-14: 2 3 Regarding response to IR-1 c), does E1 give incentives to its employees? If so, please provide 4 details of the incentives. 5 6 Response IR-14: 7 8 No. EfficiencyOne does not provide...

AI summary The document includes responses to inquiries about EfficiencyOne's employee incentives and operational resource sufficiency. EfficiencyOne denies providing employee incentives and addresses concerns about administrative costs and operational capacity related to DSM and Provincial Fund programs.

(a) Yes. EfficiencyOne (E1) does consider its current operational resources, specifically staff, sufficient to administer the DSM and non-DSM related programs efficiently and effectively in the present and will increase as necessary for th...

AI summary EfficiencyOne (E1) confirms it has sufficient current operational resources to administer DSM and non-DSM programs and will scale as needed. E1 uses a Cost Allocation Methodology (CAM) approved by the NSUARB in 2011 to allocate costs based on causality, using Direct Cost or FTE allocators.

SCHEDULE 1 - ACCOUNTING CODES FUND DEPARTMENT PROGRAM FUND 10 General Fund 20 Capital Fund 30 EDSM Fund 40 PNS Fund DEPARTMENT 10 Direct Program Costs 20 Program Support 21 Sales 31 Finance & Admin 32 CEO PROGRAM 1000 Existing Houses (Prov...

AI summary Schedule 1 outlines accounting codes for various funds, departments, and programs related to energy efficiency and demand-side management in Nova Scotia. It includes specific programs such as Solar, REAP, and Low Income initiatives, as well as departments like Finance & Admin and HR.

Request IR-1: - With regards to the Consolidated Statement of Operations, Demand Side Management Fund: - a) Please provide an explanation for the increase in incentives from $22 million in 2021 to $27 million in 2022. - b) Please provide a...

AI summary Request IR-1 asks for explanations regarding increases in incentives, bad debt, and salaries and benefits costs for the Demand Side Management Fund between 2021 and 2022, as well as changes in the number of employees at E1.

Request IR-3: - With regards to Consolidated Statement of Cash Flows, Demand Side Management Fund, - please detail the reason for the increase in the change in accounts receivable balance.

AI summary The document requests a detailed explanation for the increase in the change in accounts receivable balance, specifically relating to the Consolidated Statement of Cash Flows and the Demand Side Management Fund.

Request IR-4: - With regards to Note 3 to the Consolidated Financial Statements Revenue: - a) Please explain the increase from $34 million in 2021 to $41 million in 2022 in the fee-for-service revenue related to DSM fund. - b) Please provi...

AI summary The document requests explanations for various revenue changes related to the DSM fund and Provincial Fund between 2021 and 2022, including discrepancies between reported and calculated figures, as well as a statement of operations for the programs and grants in 2022.

Document: 302799 (E-ENS-F-23) Date Filed: June 20/23 UARB Page 2 1 i. The Company has a deficit of $2,000 in the year, mainly due to "Other Business 2 Fund" transactions. Are the additional programs and grants handled by the 3 Company putt...

AI summary The document includes several financial and operational questions directed at the Company, focusing on revenue, cash management, investment decisions, and program-related financial impacts. Specific requests include explanations of revenue and cash receipt tables, use of endowment funds, investment in GICs, and changes in deferred revenue and DSM Fund Share.

Request IR-15: - Regarding responses to IR-2, IR-4 b) h), IR-7: - a) The cash receipt and deferred revenue related to the Provincial Fund have grown significantly in 2022, with revenues and expenses slightly increasing in the year as well....

AI summary The document raises concerns about E1's ability to manage DSM and non-DSM programs with current resources, questions differences in cost allocations between funds, and seeks explanations for discrepancies in financial reporting. It also inquires about the structure of non-DSM programs and the rationale behind different allocators for certain expenses.