N-2Refiled Statements - NSPI - Redacted
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Production volumes by fuel type and average fuel cost are summarized in the following table: Three months ended Year ended For the December 31 December 31 GWh (except as indicated) 2025 2024 2025 2024 Coal 1,329 976 4,370 3,347 Natural gas...
AI summary The table summarizes production volumes by fuel type and average fuel costs for the periods ending December 31, 2025, and December 31, 2024. It shows a decrease in coal and natural gas production, an increase in renewables, and a significant over-recovery of fuel costs in Q4 2024 due to a refund received by NSPI.
Energy Consumption Risk NSPI is affected by demand for energy based on changing customer patterns due to fluctuations in a number of factors including general economic conditions, weather events, customers' focus on energy efficiency, chan...
AI summary NSPI faces operational risks from fluctuating energy demand due to economic conditions, weather, energy efficiency initiatives, technological advancements, and government policies promoting distributed generation. These factors may reduce load and revenues, impacting NSPI's rate base, earnings, and cash flows, potentially leading to a Material Adverse Effect.
Nova Scotia Power Incorporated - Management Information Circular 2026 Corporate Objective Weight- ing (%) Result Payout (%) Customer Building a reputation for customer\nexperience Objectives included: Threshold: Achieve 2025 Customer First...
AI summary The document outlines Nova Scotia Power Incorporated's 2026 Management Information Circular, including corporate objectives and performance metrics. It covers customer experience, asset management, and financial goals, with a focus on achieving targets related to customer satisfaction, reliability improvements, and financial performance.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This AIF, including the documents incorporated herein by reference, contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities l...
AI summary This document contains forward-looking information about NSPI's financial performance, operations, and regulatory compliance. It includes projections and assumptions regarding revenue, capital investments, regulatory decisions, environmental initiatives, and potential challenges such as cyber incidents and global economic conditions.
2025 Annual Financial Statements Attachment 5 Page 4 of 26 REDACTED (CONFIDENTIAL INFORMATION REMOVED) generation; no severe and/or prolonged downturn in economic conditions; sufficient liquidity and capital resources; the continued abilit...
AI summary The document outlines forward-looking information for NSPI, highlighting key assumptions and risks affecting its operations, including regulatory, economic, environmental, and market-related factors. It emphasizes uncertainties such as changes in laws, commodity prices, credit ratings, and technological developments that could impact performance.
Energy Efficiency Legislation In April 2014, the Province announced energy efficiency legislation to remove a previous charge for conservation and efficiency programs from power bills of customers in the Province effective January 1, 2015....
AI summary In 2014, Nova Scotia introduced legislation to remove a conservation charge from power bills and required NSPI to purchase efficiency activities from EfficiencyOne. The NSEB approved a $35 million DSM deferral recoverable over eight years, with a portion financed by EfficiencyOne. As of 2023, the deferral was fully recovered, and the balance was repaid. In 2022, the NSEB approved a $173 million budget for 2023–2025, reduced by $4 million due to EfficiencyOne's underspend.
APPENDIX A – DEFINITIONS For convenience, terms used throughout this 2025 AIF of Nova Scotia Power Incorporated shall have the following meanings: - "AFUDC" means allowance for funds used during construction and represents the cost of fina...
AI summary This appendix provides definitions of key terms used in the 2025 Annual Information Form of Nova Scotia Power Incorporated. Terms include financial and regulatory concepts, programs, and legal references relevant to the company's operations and regulatory filings.
2025 Annual Financial Statements Attachment 5 Page 25 of 26 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - "GGPPA" means the Greenhouse Gas Pollution Pricing Act; - "Government" means the Government of Canada; - "GRA" means a General Rate A...
AI summary This document defines key terms and abbreviations used in the 2025 Annual Financial Statements of Nova Scotia Power Inc. (NSPI), including regulatory and technical terminology related to energy, finance, and legal frameworks.
Initiatives across our core operating jurisdictions (2) – paced with customer affordability in mind - Florida: Strengthening reliability and affordability while modernizing the generation fleet via investments in solar, battery storage, fu...
AI summary The text outlines initiatives in Florida and Nova Scotia aimed at improving reliability and affordability, with a focus on renewable energy and climate policy alignment. Nova Scotia's efforts include grid resilience, interties, hydro, battery storage, and coal retirement, in line with provincial climate targets of 80% renewable energy and coal-free electricity by 2030.
Letter from the Chair and the CEO Fellow shareholders, 2025 was defined by meaningful progress for Emera, reflecting the benefit of years of disciplined investment, operational excellence, and continual focus on long-term strategy and deli...
AI summary Emera's 2025 progress is attributed to disciplined investment and operational excellence, with a focus on long-term strategy and financial resilience. The company is modernizing its energy systems and strengthening grid reliability, particularly in Florida and Nova Scotia, to meet growing energy demand and support renewable integration.
FLI is based on reasonable assumptions and is subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or results anticipated by the FLI. Factors that could cause result...
AI summary Forward-looking information (FLI) is subject to various risks and uncertainties that could cause actual results to differ significantly from expectations. These include regulatory, economic, environmental, technological, and operational risks, among others.
Annual production volumes are summarized in the following table: Production Volumes (GWh) 2025 2024 Natural gas 17,470 18,027 Solar 2,419 2,250 Purchased power 2,004 1,569 Coal 46 32 Total 21,939 21,878 2025 Annual Financial Statements Att...
AI summary The text provides annual production volumes for various energy sources in 2025 and 2024, including natural gas, solar, purchased power, and coal. It also references the Strategic Overview section of Management's Discussion and Analysis from the 2025 Annual Financial Statements.
Transition Risk: As government policy related to the environment, renewable energy, and decarbonization continues to shift in various operating jurisdictions, the Company is exposed to increased uncertainty and risk arising from policy, le...
AI summary The Company faces increased transition risk due to evolving environmental policies, renewable energy initiatives, and decarbonization efforts, leading to uncertainty in policy, legal, and regulatory frameworks. This may impact customer demand, rates, and the need for significant capital investment. Risks also include challenges in insuring carbon-emitting assets and potential litigation or regulatory action over environmental harms.
Energy Consumption Risk Emera's rate-regulated utilities are affected by demand for energy based on changing customer patterns due to fluctuations in a number of factors including general economic conditions, weather events, customers' foc...
AI summary Emera's rate-regulated utilities face energy consumption risks due to changing customer demand influenced by economic conditions, weather, energy efficiency, and new technologies like solar and electric vehicles. Government policies promoting efficiency and distributed generation may reduce load and revenue, impacting operations, rate base, earnings, and cash flows.
Emera Energy Marketing and Trading: The majority of Emera Energy's portfolio of electricity and gas marketing and trading contracts and, in particular, its natural gas asset management arrangements, are contracted on a back-to-back basis,...
AI summary Emera Energy's electricity and gas marketing and trading contracts are mostly back-to-back, minimizing commodity position risks. However, the portfolio is exposed to commodity price risks, especially basis point differentials, operational issues, tariffs, or counterparty defaults, which can increase collateral and liquidity requirements.
Nature of Operations Emera Incorporated ("Emera" or the "Company") is an energy and services company that invests in electricity generation, transmission and distribution, and gas transmission and distribution. At December 31, 2025, Emera'...
AI summary Emera Incorporated is an energy and services company with operations in electricity generation, transmission, distribution, and gas transmission. It operates in multiple regions including Florida, Nova Scotia, New Mexico, and the Caribbean, with various subsidiaries and equity interests in transmission and pipeline projects.
2025 Annual Financial Statements Attachment 6 Page 76 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder infor...
AI summary The document outlines the strategic overview and management's discussion and analysis of Emera's 2025 annual financial statements. It details Emera's other segment, which includes investments in non-regulated energy companies, financing subsidiaries, and other related entities.
2025 Annual Financial Statements Attachment 6 Page 77 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder infor...
AI summary The text provides an overview of the 2025 Annual Financial Statements for Emera, including sections such as Management's Discussion and Analysis, Consolidated Financial Statements, and information about leadership and shareholders. It outlines the structure of the financial reporting and key areas of focus.
2025 Annual Financial Statements Attachment 6 Page 88 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder infor...
AI summary This document contains the 2025 Annual Financial Statements of Emera, including Management's Discussion and Analysis, Consolidated Financial Statements, and other related sections such as leadership information and shareholder details.