Topic:"Environmental Goals And Climate Change Reduction Act" in M12835

Environmental Legislation and Climate Change NSPI is subject to environmental laws and regulations as set by both the Government of Canada and the Nova Scotia Provincial Government (the "Province"). NSPI continues to work with both levels...

AI summary NSPI must comply with federal and provincial environmental laws, facing risks from non-compliance that could impact operations and finances. The company expects prudently incurred compliance costs to be recoverable under its regulatory framework. Risks and regulations are further detailed in the Enterprise Risk section.

Changes in Environmental Legislation NSPI is subject to extensive regulation by federal, provincial and municipal authorities regarding environmental matters; primarily related to its utility operations. This includes laws, regulations and...

AI summary NSPI faces regulatory obligations under federal, provincial, and municipal environmental laws, including GHG emission targets, renewable energy standards, and coal phase-out by 2030. Both Nova Scotia and Canada aim for net-zero emissions by 2050, with potential risks for NSPI if regulations change. NSPI collaborates with governments to align with carbon reduction goals.

Renewable Energy Regulations: The Province has established targets with respect to the percentage of renewable energy in NSPI's generation mix. Under the RER, the Company currently has a provincially mandated target of achieving at least 4...

AI summary Nova Scotia has set renewable energy targets for NSPI, requiring 40% renewable energy sales from 2020-2029 and 80% by 2030. A $10M penalty was imposed on NSPI for 2022 non-compliance, prompting an appeal to NSEB. The Province aims to phase out coal by 2030 under the Environmental Goals and Climate Change Reduction Act.

Year NOx Caps (tonnes) 2021-20241 56,000 2025 11,500 2026-2029 44,000 2030 8,800 1 NOx four-year cap for 2021‐2024 is 56 tonnes, with no single year exceeding 14.995 tonnes.

AI summary The table outlines NOx emission caps for specific years, with a four-year cap of 56,000 tonnes for 2021-2024, and significantly lower caps for 2025 and 2030. A footnote clarifies that no single year in the 2021-2024 period can exceed 14.995 tonnes.

2025 Annual Financial Statements Attachment 3 Page 21 of 30 REDACTED (CONFIDENTIAL INFORMATION REMOVED) The Company will be required to manage the impacts of these ongoing changes on customer demand and rates, while maintaining and integra...

AI summary The company faces challenges in managing energy transition impacts, capital investments, and external factors affecting the pace of emissions reductions. Insurance risks for carbon-emitting assets, potential legal actions, and climate change risks could affect service delivery, reputation, and access to capital.

Renewable Electricity Regulations The Province has established targets with respect to the percentage of renewable energy in NSPI's generation mix. Under the RER, the Company currently has a provincially mandated target of achieving at lea...

AI summary Nova Scotia has set renewable energy targets under the RER, requiring NSPI to generate 40% of energy sales from renewables (2020-2029) and 80% by 2030. The province also aims to phase out coal-fired electricity by 2030. NSPI collaborates with provincial and federal governments to meet these targets, with further details in the 'Environmental Matters' section.

Environmental Legislation: Emera is subject to extensive regulation by federal, provincial, state, regional and local authorities regarding environmental matters, primarily related to its utility operations. This includes laws, regulations...

AI summary Emera faces stringent environmental regulations across jurisdictions, including GHG emission targets, renewable energy mandates, and PFAS-related obligations. Both Nova Scotia and Canada aim for net-zero emissions by 2050, with Nova Scotia targeting coal phase-out by 2030. Non-compliance risks Material Adverse Effects, while PFAS regulations could increase operational costs.

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 transition risks due to evolving environmental policies, renewable energy mandates, and decarbonization efforts, which may cause material adverse effects. These risks include regulatory uncertainty, capital investment needs, insurance challenges, and potential litigation. The energy transition requires balancing reliability, affordability, and stakeholder expectations while adapting infrastructure and managing insurance and regulatory exposure.

Environmental Legislation and Climate Change NSPI is subject to environmental laws and regulations as set by both the Government of Canada and the Nova Scotia Provincial Government (the "Province"). NSPI continues to work with both levels...

AI summary NSPI complies with federal and provincial environmental regulations, aiming to minimize customer costs while ensuring compliance. It anticipates recovering prudently incurred compliance costs through its regulatory framework. Risks include non-compliance impacts on operations and financial performance, with further details in the 'Enterprise Risk and Risk Management' section.

Changes in Environmental Legislation NSPI is subject to extensive regulation by federal, provincial and municipal authorities regarding environmental matters; primarily related to its utility operations. This includes laws, regulations and...

AI summary Nova Scotia Power Inc. (NSPI) faces regulatory requirements from federal, provincial, and municipal authorities on environmental matters, including GHG emissions, renewable energy standards, and coal phase-out by 2030. Both Nova Scotia and Canada aim for net-zero emissions by 2050, with potential risks if NSPI fails to comply with evolving regulations.

Renewable Energy Regulations: The Province has established targets with respect to the percentage of renewable energy in NSPI's generation mix. Under the RER, the Company currently has a provincially mandated target of achieving at least 4...

AI summary Nova Scotia has mandated NSPI to achieve 40% renewable energy sales by 2029 and 80% by 2030 under the RER. A $10M penalty was imposed on NSPI for 2022 non-compliance, which NSPI appealed to the NSEB in 2023. The appeal hearing concluded in 2025, with a decision pending.

NSPI received a Certificate of Variance from NSECC on March 25, 2025, which provides flexibility on the timing of SO2 emissions over the 2025 through 2034 period, including compensating for the excess 14,410 tonnes of SO2 emissions in 2022...

AI summary NSPI received a Certificate of Variance allowing flexibility in SO2 emissions timing from 2025 to 2034. Environmental regulations could lead to higher compliance costs, delays in infrastructure, and stranded assets. Non-compliance risks legal penalties and Material Adverse Effects.

Transition Risk: As government policy related to the environment, renewable energy, and decarbonization continues to shift, the Company is exposed to increased uncertainty and risk arising from policy, legal, regulatory, technology, and ma...

AI summary The Company faces increased transition risks due to evolving environmental policies, renewable energy mandates, and decarbonization efforts, which may lead to Material Adverse Effects. These risks require addressing regulatory changes and balancing stakeholder demands for energy reliability and affordability.

Environmental Matters NSPI is subject to regulation by federal, provincial, and municipal authorities regarding environmental matters related to its utility operations. This includes laws setting GHG emissions standards, renewable energy t...

AI summary NSPI is regulated by various authorities on environmental matters, including GHG emissions, renewable energy targets, and waste management. Non-compliance with these regulations could impact NSPI's operations and financial performance. Further details are provided in the MD&A section and available on SEDAR+.

Renewable Electricity Regulations The Province has established targets with respect to the percentage of renewable energy in NSPI's generation mix. Under the RER, the Company currently has a provincially mandated target of achieving at lea...

AI summary Nova Scotia has set renewable energy targets for NSPI, requiring 40% renewable energy sales from 2020-2029 and 80% from 2030 onward. The province also aims to phase out coal-fired electricity by 2030. NSPI collaborates with provincial and federal governments on achieving these targets.

CRA internal form identifier 060 Project number 3 Complete a separate Part 2 for each project claimed this year. CRA internal form identifier 060 Code 2401 2. understanding the impact of different environmental factors and man-made 3. stru...

AI summary The text discusses a project focused on understanding the impact of environmental factors and man-made structures on American eels, particularly their migratory lifecycle and the challenges they face, including barriers in the Mersey River Hydroelectric System (MRHS).

Industry Regulated Utility Description Assessment Weight Emissions, Effluents, and could result, in changes to an issuer's financial, operational, and/or Waste reputational standing? N N Does the issuer face increased regulatory pressure r...

AI summary This section evaluates potential environmental and social risks to the issuer's financial and operational standing, including carbon and GHG costs, resource management, biodiversity loss, and climate-related disruptions. While some risks are noted, they are not deemed material in the short or long term.

Environmental Regulation - In October 2017, the Province passed amendments to the Environment Act for the development of a capand-trade program for carbon emissions, which became effective on January 1, 2019. - In July 2021, the Province a...

AI summary Nova Scotia implemented various environmental regulations, including a cap-and-trade program and renewable energy mandates. The Province amended the RER to require 80% renewable electricity sales by 2030 and phased out coal-fired generation by 2030. An Equivalency Agreement with Canada allowed NSPI to comply with federal GHG regulations until 2029. NSPI faced a $10 million penalty for noncompliance with the RER in 2022 and appealed it. The Province also enacted Bill 404, establishing the NSIESO to manage the electricity grid starting in late 2025.