Topic:"Financial Instruments" in M11990

2025 Budget (1) (2) (3) (4) (5) Proposed Rates Actual Interest Projected Interest Weighted Average Interest Total Interest 2025 Rate Rates Rate Cost Capitalization: Debt % 60.0% Common % 40.0% Total Regulated Capitalization ($): $6,002 Fin...

AI summary The 2025 Budget outlines the proposed capitalization structure, financial ratios, and details of debt for the entity. It includes a breakdown of short-term and long-term debt, interest rates, and total interest costs. The debt composition includes multiple series with varying maturity dates and interest rates, along with forecasted issuance from the Canada Infrastructure Bank.

20 Please refer to the average forecast balances shown in the table below. 2025 Budget 2025 Budget 2025 Budget $ Millions Opening Balance Ending Balance Average Balance Net Regulated Plant in Service 4,700 5,097 4,898 Plus: Construction Wo...

AI summary The text refers to average forecast balances for 2025, including Net Regulated Plant in Service, Construction Work in Progress, Net Utility Fixed Assets, and other financial metrics, providing a snapshot of projected financial positions.

1 Request IR-1: 2 3 (a) Please confirm that the methodology for calculating short term debt in this 2025 4 Application includes two variations to the prior methodology approved: (1) 5 NSPI is using the Bloomberg Outlook rate, and (2) the C...

AI summary The request seeks clarification on changes in the methodology for calculating short-term debt in the 2025 application, specifically the use of Bloomberg Outlook rates and CORRA. The response confirms that the methodology remains consistent with prior approvals, with CORRA adopted as the benchmark rate following CDOR's discontinuation.

2025 Budget 1 (1) (2) (3) (4) (5) (6) (7) (8) 2 2025 Cost Cost Weighted Weighted Average Capital Pre-tax After-tax Pre-tax After-tax 3 Opening Closing Capital Ratio Factor Factor Cost Cost 4 5 Estimated Cost of Capital 6 7 Short-term debt...

AI summary The document provides an overview of the 2025 budget, focusing on the estimated cost of capital, including details on short-term and long-term debt, common equity, and weighted average costs. It includes figures for opening and closing balances, capital ratios, and cost factors.

2025 Budget NSPI CP Forecast, As of August 20, 2024 Commercial Paper Rates Q1/25 Q2/25 Q3/25 Q4/25 Bloomberg Outlook T-Bills 3.64% 3.35% 3.14% 3.05% Outlook T-Bills to Term CORRA Rates spread 0.32% 0.32% 0.32% 0.32% Estimated CP Rate 3.96%...

AI summary The 2025 Budget section provides an overview of NSPI's commercial paper rates for the four quarters of 2025, based on Bloomberg Outlook T-Bills and CORRA Rates spread, with estimated CP rates and current NSPI spread provided for each quarter.

WACC and AFUDC Rates for 2025 Application (NSUARB M11990) NSPI Responses to NSUARB Information Requests 1 Request IR-3: 1 Request IR-5: 2 3 In reference to Figure 1 on page 8: 4 5 (a) In 2022 and 2023, the actual short-term interest rate w...

AI summary The document addresses information requests related to the WACC and AFUDC Rates for 2025 Application (NSUARB M11990) by NSPI. The requests focus on discrepancies between forecasted and actual short-term interest rates, the sources of data used for forecasts, and the use of Bloomberg forecasts by Canadian utilities. NSPI responds that it does not have access to the assumptions used in developing the forecasts and that forecasts are subject to change.

2025 WACC and AFUDC Rates NSUARB IR-5 Attachment 3 Page 11 of 12 Variable 2023 8-Aug 2023 Sep 2023 Dec 2024 Mar 2024 Jun 2024 Sep 2024 Dec 15 1mth TC Rate 3.67 3.41 3.22 3.13 16 NSPI's Spread 0.51 0.51 0.51 0.51 17 All In CP Rates 4.18% 3....

AI summary The document provides a detailed analysis of the 2025 Weighted Average Cost of Capital (WACC) and Allowance for Funds Used During Construction (AFUDC) rates. It includes data on short-term debt balances, interest rates, and forecasts from various financial institutions for 2024 and 2025.

PARTIALLY CONFIDENTIAL (Attachment Only) 1 Request IR-6: 2 3 (a) Please provide a schedule detailing the projected opening and closing balances of 4 construction work in progress for 2025, to which the proposed AFUDC rate is 5 expected to...

AI summary The document outlines a request for information regarding NS Power's projected construction work in progress balances and AFUDC charges for 2025, as well as its equity ratios for 2024 and 2025. NS Power provides some details but notes it cannot disclose actual capital structure data until its 2024 Regulated Financial Statements are completed.

Liquidity (CAD millions as at September 30, 2024) Amount Drawn/Letter of Credit Available Expiry Cash & cash equivalents 3 - 3 N/A Committed revolving facilities 800 291 509 June 2029 Total 803 291 512 - We consider the Company's liquidity...

AI summary The document provides a liquidity overview for the company as of September 30, 2024, showing cash reserves and committed revolving facilities. It concludes that the company has adequate liquidity to support its operations.

4 M11990, Industrial Group Submission, WACC and AFUDC Rates for 2025, February 13, 2025, Page 4. spread4F 5 1 to the forecast Canadian Treasury Bill rate. Combined these amounts represent an 2 estimated fixed cost of borrowing above the 3-...

AI summary NS Power explains its use of the Term CORRA rate as a replacement for the discontinued CDOR benchmark in forecasting short-term interest rates. It applies a historical spread between Canadian Treasury bills and Term CORRA, plus a fixed adjustment, to maintain consistency with previously approved methodologies and stakeholder presentations.

2025 Budget 1 (1) (2) (3) (4) (5) (6) (7) (8) 2 2025 Cost Cost Weighted Weighted Average Capital Pre-tax After-tax Pre-tax After-tax 3 Opening Closing Capital Ratio Factor Factor Cost Cost 4 5 Estimated Cost of Capital 6 7 Short-term debt...

AI summary The 2025 Budget outlines the estimated cost of capital for short-term and long-term debt, as well as common equity, with details on pre-tax and after-tax costs, weighted averages, and capital ratios. This information is critical for evaluating financial strategies and capital structure.

2025 Budget 1 (1) (1) Proposed Projected Weighted 2 Rates 2025 Actual Interest Rate Interest Rates Average Interest Rate Total Interest Cost 3 Capitalization: 4 Debt % 60.0% 5 Common % 40.0% 6 Total Regulated Capitalization ($): $6,002 7 8...

AI summary This section outlines the 2025 budget proposal, focusing on regulated capitalization, financial ratios, and debt details. It provides breakdowns of short-term and long-term debt, including maturity dates, interest rates, and projected interest costs, with an emphasis on the capital structure and financial obligations for the year.

1 3 4 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Total 5 6 Forecasted Balances of CIB debt by month 35,703 35,703 35,792 35,792 35,792 77,457 77,457 77,457 83,356 83,356 83,356 89,934 89,934...

AI summary The table provides forecasted balances of CIB debt and corresponding interest expenses by month from December 2024 to December 2025. The CIB interest rate is consistently 2.51%, and the interest expense increases as the debt balance increases over time.

- 3 1 (f) - 4 Preamble: NSPI references the exemptive relief given in 2023 to participate in the 2023 - 5 Commercial Paper Market within this application. In the last WACC/AFUDC application, - 6 M11563, NSPI confirmed that it had a further...

AI summary The document discusses NSPI's participation in the Commercial Paper Market, restrictions on sales to Canadian Qualified Purchasers, and the use of Bloomberg versus Canadian Bank rates in calculating the WACC. It requests updates to a table, impact analysis, and elaboration on the improved forecast process using Bloomberg rates.