N-23M12835 Exhibit N-2 Att 3 2025 Managements Discussion AnalysisHIGHLIGHTED
4 passages
Consolidated Statements of Income For the Three months ended Year ended millions of dollars December 31 December 31 2025 2024 2025 2024 Operating revenues $ 504 $ 479 $ 1,944 1,855 $ Fuel for generation and purchased power 269 (216) 1,065...
AI summary The consolidated statements of income for Nova Scotia Power Inc. show operating revenues of $504 million for the three months ended December 31, 2025, and $1,944 million for the year ended. Fuel costs and other deferrals, operating expenses, and income from operations are detailed, with net income at $22 million for the quarter and $141 million for the year.
Average fuel costs per MWh increased in Q4 2025 compared to Q4 2024 primarily due to a refund of previous NSPML assessment payments received in Q4 2024. For further details, refer to Note 5 in the NSPI Consolidated Financial Statements as...
AI summary Average fuel costs per MWh increased in Q4 2025 and year-to-date 2025 compared to the previous year, primarily due to a refund of previous NSPML assessment payments and increased generation from solid fuel and oil. These increases were partially offset by favorable commodity prices and decreased generation from natural gas.
Supply Chain Risk NSPl's ability to meet customer energy requirements, respond to storm-related disruptions and invest in capital in a cost-effective and timely manner are dependent on maintaining an efficient supply chain. Domestic and gl...
AI summary NSPI's ability to meet energy demands, manage disruptions, and invest in capital is dependent on an efficient supply chain. Supply chain issues, trade restrictions, inflation, labor shortages, and international conflicts could delay deliveries, increase costs, or cause shortages of critical materials and resources.
Heavy Fuel Oil: NSPI periodically enters into physical and/or financial contracts based on forecast heavy fuel oil purchases to meet load and system security requirements. Volumes exposed to market prices are managed using financial instru...
AI summary NSPI manages heavy fuel oil purchases through physical and financial contracts to meet load and system security needs. As of December 31, 2025, forecast heavy fuel oil requirements for 2026 are fully hedged using financial instruments under NSPI's hedging program.