N-12025 Annual Financial Statements - Redacted
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To ensure reliability of service, NSPI aims to maintain a generating capacity greater than firm peak demand. The Company owns 2,422 MW of generating capacity, of which 44 per cent is coal and/or oilfired; 28 per cent is natural gas and/or...
AI summary NSPI maintains generating capacity exceeding firm peak demand and owns a diversified mix of energy sources, including coal, natural gas, hydro, wind, solar, petcoke, and biomass. In 2025, it began operating grid-scale battery facilities and has contracts with IPPs, including COMFIT participants, to purchase renewable energy.
BESS Project On June 13, 2024, the NSEB approved $238 million of capital investment, including AFUDC, for the BESS Project. The project is comprised of three 50 MW, four-hour battery facilities. As of December 31, 2025, two facilities are...
AI summary The NSEB approved $238 million in capital investment, including AFUDC, for the BESS Project, which consists of three 50 MW battery facilities. Two facilities were operational by December 2025, with the third expected to come online in 2026.
Other Legislation In November 2023, the Province enacted amendments to the Electricity Act which permit the Governor in Council to approve energy storage projects proposed by a public utility and owned wholly or in majority by the public u...
AI summary In 2023, Nova Scotia amended the Electricity Act and Public Utilities Act to expand energy storage project approvals, increase penalties for NSPI noncompliance, and enable RFPs for energy storage. Amendments also empower the Province to mandate power purchase agreements for renewable generation, with NSPI managing transmission and sales. The Governor in Council directed NSPI to install grid-scale batteries.
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 focused on enhancing grid reliability, affordability, and climate policy alignment. Nova Scotia's efforts include grid resilience, interties, hydro, battery storage, coal retirement, and renewable energy investments, aligning with provincial climate targets. CO2 reductions are compared to 2005 levels, with core jurisdictions encompassing Emera's operations in Nova Scotia (NSPI) and Florida (TEC & PGS).
2025 Highlights Emera's momentum throughout 2025 came from consistent execution and commitment to operational excellence. Across our operations we advanced major capital projects, and in turn, hit key milestones. We translated our capital...
AI summary Emera's 2025 achievements include advancing capital projects, operational milestones, and strategic initiatives. Key highlights include Nova Scotia's grid-scale battery installations, Tampa Electric's solar expansion, the Maritime Link's performance, and progress on selling New Mexico Gas Company. These efforts support renewable integration, system resilience, and long-term business positioning.
Chart of Accounts for Nova Scotia Power Inc. (Consolidated) As of December 31, 2025
AI summary The document presents the Chart of Accounts for Nova Scotia Power Inc. as of December 31, 2025, outlining the financial structure and categorization of assets, liabilities, equity, revenues, and expenses for the company.
N-2Refiled Statements - NSPI - Redacted
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Government Grants The Company accounts for government grants by applying a grant accounting model by analogy to International Accounting Standards ("IAS") 20 , Accounting for Government Grants and Disclosure of Government Assistance . A gr...
AI summary The Company accounts for government grants under IAS 20, with 2025 grants totaling $74M for decarbonization projects. Key grants include Natural Resources Canada's SREP program funding three 50 MW battery storage systems, with $45M received in 2025. Grants reduce PP&E carrying amounts for asset-related support.
Clean Energy Transition As part of its IRP process, NSPI filed an updated IRP Action Plan and Roadmap with the NSEB in August of 2023. On October 11, 2023, the Province released the 2030 Clean Power Plan which outlines the Province's strat...
AI summary NSPI has filed an updated IRP Action Plan and Roadmap with the NSEB, aligning with the Province's 2030 Clean Power Plan. The plan includes adding 1,000 MW of onshore wind and 300 MW of solar capacity, requiring grid investments, energy storage, and thermal fleet upgrades. NSPI is collaborating with federal and provincial governments to determine funding and minimize customer costs.
Other Legislation In November 2023, the Province enacted amendments to the Electricity Act which permit the Governor in Council to approve energy storage projects proposed by a public utility and owned wholly or in majority by the public u...
AI summary In 2023, Nova Scotia amended the Electricity Act and Public Utilities Act to enhance energy storage and regulatory oversight. Amendments allow the Province to approve energy storage projects, issue requests for proposals, and increase penalties for noncompliance by NSPI. These changes aim to support renewable energy integration and customer cost reduction.
2025 Highlights Emera's momentum throughout 2025 came from consistent execution and commitment to operational excellence. Across our operations we advanced major capital projects, and in turn, hit key milestones. We translated our capital...
AI summary Emera achieved operational excellence in 2025 with major capital projects and strategic initiatives, including the opening of new facilities, battery storage projects in Nova Scotia, and the continued performance of the Maritime Link. Strategic progress included steps toward the sale of New Mexico Gas Company.
Natural Resources Canada ("NRCan") Smart Renewables & Electrification Pathways ("SREP"): On March 27, 2024, NSPI was approved for a grant under the NRCan SREPs to fund the construction of three 50 MW battery storage systems in Nova Scotia....
AI summary NSPI received a grant from NRCan SREPs to fund three 50 MW battery storage systems in Nova Scotia, with eligible costs covered up to 33% of the total, capped at $109 million. As of December 31, 2025, $45 million had been received under the grant, reducing the carrying amount of the project in PP&E.