Topic:"Equity Access" in M12394

NON-CONFIDENTIAL 1 d) NSPML's initial capital costs of $1.7 billion including AFUDC was funded 70% debt and 2 30% equity. There have been no material capital additions since going into operations in 3 2018, with the first material capital...

AI summary NSPML's initial capital costs were funded 70% debt and 30% equity, with no material capital additions since 2018. The first material addition is planned for 2026, and no additional equity issuances have been required beyond the original 30% investment. NSPML, as a subsidiary of Emera Inc., requires equity injections from Emera, but NSPML cannot provide costs related to equity issuances.

Submissions OEB staff and several ratepayer groups submitted that no changes need to be made to the OEB's policy on capital structure in this proceeding and the default equity thickness should remain at 40% for electricity distributors and...

AI summary OEB staff and ratepayer groups argue that the default equity thickness of 40% should remain unchanged for electricity distributors and transmitters, as Concentric's case for increasing it to 45% was not persuasive. They also agree that OPG's equity ratio should be reviewed in a future proceeding. OEB staff emphasized that Ontario's equity ratios are in line with other provinces and that changes in risk have been reflected in ROE adjustments.