Topic:"Financial Instruments" in M12780

1 Table 6: 2029 Alternate Scenario Savings and Investment by Program Component 2029 Investment ($ million) Lifetime Benefits ($ million) First Year Energy Savings (GWh) Lifetime Energy Savings (GWh) Peak Demand Savings (MW) Available Deman...

AI summary Table 6 presents the 2029 alternate scenario savings and investment by program component, focusing on 'Instant Savings' with details on investment, benefits, energy savings, and other metrics. The table highlights the financial and energy performance of the program.

Table 186: Advanced RTU Control Measure Summary Parameter BER-AR Reference Measure Description and Identification Measure Advanced RTU controls that include demand-controlled ventilation (DCV) and an optional variable frequency drive (VFD)...

AI summary Table 186 provides a summary of the Advanced RTU Control Measure, including details on energy savings adjustment ratios, peak demand savings adjustment ratios, and other parameters related to the Business Energy Rebates – After Installation program. The table outlines technical specifications and references for calculations.

Year Annual Savings (GWh) Expenditure ($ million) Unit Cost ($/kWh) 2016 139.9 $50.5 $0.36/kWh 2017 141.7 $50.0 $0.35/kWh 2018 136.2 $52.4 $0.38/kWh Total 417.8 $152.9 $0.37/kWh Table 144 : Nova Scotia Achievable Potential Summary The numb...

AI summary Table 144 presents Nova Scotia's achievable potential summary, showing annual savings and expenditures from 2016 to 2018. The data indicates that ENS's current savings targets are nearly 100% of achievable potential, but the UARB-approved budget is only 50-70% of the forecasted required budget.

Figure 23: Union Gas Targets & Performance Metric[s](#page-37-0) 4 Resource Acquisition Scorecard Low Income Total Large Volume Large Volume - Revised Large Volume Overhead - Revised Evaluation - Revised Administrative costs - Revised Larg...

AI summary The text presents a resource acquisition scorecard with various budget figures and sections, indicating financial allocations for different programs and initiatives related to energy efficiency and resource management.

E1 Responses to Nova Scotia Energy Board (NSEB) Information Requests NON-CONFIDENTIAL 1 In 2026, as part of efforts to enhance rate class spending reporting, E1 introduced a new 2 rate class allocation methodology for quarterly and annual...

AI summary In 2026, E1 introduced a new rate class allocation methodology for forecasting and reporting, including Plan period tables by rate class. These tables compare past results, forecasts, and DSM Plan spending as a percentage of total spending relative to the MCA and forecast.

E1 Responses to Nova Scotia Energy Board (NSEB) Information Requests NON-CONFIDENTIAL 1 Request IR-45: 21 (b) The program administration costs as modelled in the 2027–2031 DSM Plan are informed 22 by inflation rates. 23 24 (c) E1 understan...

AI summary E1 responds to the Nova Scotia Energy Board's information requests regarding the 2027–2031 DSM Plan, explaining that program administration costs are modeled using inflation rates and that the discount rate for the Program Administrator Cost (PAC) test is based on the most recent weighted average cost of capital (WACC) filed by NS Power. E1 also addresses discrepancies in the values and calculations in Appendix A of the DSM Plan.

ts program planning and evaluation activities. If warranted, findings will inform future program design and any recommended amendments to the Plan. DATE FILED: May 28, 2026 E1 (SNS) IR-06 Page 2 of 2 Request IR-07: Small Business Energy So...

AI summary The request focuses on the Small Business Energy Solutions (SBES) program under the 2027-2031 DSM Plan, asking for participation forecasts, cost details for heat pump measures, consideration of federal incentives, alternative delivery models, and the reasons behind rising unit costs over time.

4.5.34.6.3 AUDITED FINANCIAL STATEMENTS ENS E1 will retain the services of an external financial auditor to prepare audited annual financial statements. These will be filed with the UARB NSEB in the second quarter of the following year.

AI summary ENS E1 will hire an external financial auditor to prepare audited annual financial statements, which will be submitted to the UARB NSEB in the second quarter of the following year.

4.6.3 AUDITED FINANCIAL STATEMENTS E1 will retain the services of an external financial auditor to prepare audited annual financial statements. These will be filed with the NSEB in the second quarter of the following year.

AI summary E1 will engage an external financial auditor to prepare audited annual financial statements, which will be submitted to the NSEB in the second quarter of the following year.

4.6.3 AUDITED FINANCIAL STATEMENTS E1 will retain the services of an external financial auditor to prepare audited annual financial statements. These will be filed with the NSEB in the second quarter of the following year.

AI summary E1 will engage an external financial auditor to prepare audited annual financial statements, which will be submitted to the NSEB in the second quarter of the following year.

4.6.3 Audited Financial Statements E1 will file audited annual financial statement in Q2 of the following year.

AI summary E1 is required to file audited annual financial statements in Q2 of the following year.

Management's Discussion & Analysis As at February 23, 2026 Management's Discussion & Analysis ("MD&A") provides a review of the results of operations of Nova Scotia Power Inc. during the fourth quarter of 2025 relative to the same quarter...

AI summary This section of the document provides an overview of Nova Scotia Power Inc.'s financial performance in the fourth quarter of 2025 compared to 2024, as well as for the full year of 2025 relative to 2024. It also includes selected financial information for 2023 and discusses the company's financial position as of December 31, 2025. The document notes that NSPI's accounting policies are subject to approval by the Nova Scotia Energy Board.

Significant changes in the Consolidated Balance Sheets between December 31, 2025 and December 31, 2024 include: Increase millions of dollars (Decrease) Explanation Assets Receivables, net $ 140 Increased due to timing of billing and receip...

AI summary The Consolidated Balance Sheets show significant changes between 2024 and 2025, including increases in receivables, income taxes, and regulatory assets, as well as changes in debt and equity positions. The changes are attributed to factors such as timing of billing, investment returns, capital investments, and tax-related adjustments.

Significant changes in the Consolidated Statements of Cash Flows between the years ended December 31, 2025 and 2024 include: millions of dollars 2025 2024 Change Cash, beginning of period $ - $ 78 $ (78) Provided by (used in): Operating ca...

AI summary The Consolidated Statements of Cash Flows show significant changes between 2025 and 2024, with a notable decrease in operating cash flow and a large increase in financing activities.

Cash Flow from Financing Activities Net cash provided by financing activities increased $1,027 million to $513 million in 2025 compared to net cash used in financing activities of $514 million in 2024 primarily due to net borrowings under...

AI summary Net cash provided by financing activities increased significantly in 2025 compared to 2024, driven by net borrowings, issuance of short-term debt, and higher long-term debt proceeds, partially offset by capital returns to Emera and debt retirements.

NSPI has a contractual obligation to pay NSPML, a related party, for the use of the Maritime Link over approximately 38 years from its January 15, 2018, in-service date. On December 23, 2025, NSPML received an Interim Order from the NSEB t...

AI summary NSPI has a long-term contractual obligation to pay NSPML for the use of the Maritime Link. An interim order allows NSPML to collect up to $199 million from NSPI in 2026 for the recovery of costs, with a monthly holdback. NSPI's financial obligations include debt, pension contributions, and operating leases.

Natural Gas: NSPI periodically enters into physical and/or financial contracts based on forecast natural gas consumption to meet load and system security requirements. Volumes exposed to market prices are managed using financial instrument...

AI summary NSPI manages natural gas requirements through physical and financial contracts, with a high percentage of 2026 needs hedged but a lower percentage for 2027. Financial instruments are used in line with a hedging program to manage market price exposure.

Heavy Fuel Oil: NSPI periodically enters into physical and/or financial contracts based on forecast heavy fuel oil purchases to meet load and system security requirements. Volumes exposed to market prices are managed using financial instru...

AI summary NSPI manages heavy fuel oil purchases through physical and financial contracts to meet load and system security needs. As of December 31, 2025, forecasted heavy fuel oil requirements for 2026 are fully hedged using financial instruments under NSPI's hedging program.

Power Purchases: NSPI has fixed price agreements relating to NLH's NS Block energy delivery obligations and power purchase agreements with IPPs. NSPI also periodically enters into additional physical and/or financial contracts based on for...

AI summary NSPI has fixed price agreements for energy delivery obligations and power purchase agreements with IPPs. It also enters into additional contracts based on forecast power purchases and uses financial instruments to hedge market price exposure, with approximately 84% of 2026 requirements and 48% of 2027 requirements hedged as of December 31, 2025.

RISK MANAGEMENT INCLUDING FINANCIAL INSTRUMENTS NSPI's risk management policies and procedures provide a framework through which management monitors various risk exposures. The risk management policies and practices are monitored by the Bo...

AI summary NSPI's risk management policies are overseen by the Board of Directors and include processes for identifying and mitigating material risks. The company uses financial instruments such as forwards and swaps to manage commodity and foreign exchange risks. Derivatives are accounted for under regulatory standards, with gains or losses potentially passed to customers via the Fuel Adjustment Mechanism.

The Company has the following categories on the Consolidated Balance Sheets related to derivatives receiving regulatory deferral: As at December 31 December 31 millions of dollars 2025 2024 Derivative instrument assets (current and other a...

AI summary The Company reports derivative instrument and regulatory asset and liability balances on its Consolidated Balance Sheets for 2025 and 2024, with a net asset of $2 in 2025. These balances are related to derivatives receiving regulatory deferral.

DISCLOSURE AND INTERNAL CONTROLS In accordance with National Instrument 52-109, Certification of Disclosure in Issuers' Annual and Interim Filings, the Chief Executive Officer and Chief Financial Officer of the Company will file a Venture...

AI summary The document discusses the disclosure requirements under National Instrument 52-109, outlining that the CEO and CFO of the company are required to file a Venture Issuer Basic Certificate. This certificate does not require representations on controls and procedures related to financial reporting and the reliability of financial statements.

The following table sets forth selected annual consolidated financial information of the Company for the three years ended December 31: millions of dollars 2025 2024 2023 Operating revenues $ 1,944 $ 1,855 $ 1,671 Net income $ 141 $ 160 $...

AI summary The table presents the Company's annual consolidated financial information for the years 2023, 2024, and 2025, including operating revenues, net income, total assets, and total long-term debt.

Nova Scotia Energy Reform Act: On February 25, 2026, NSPI was directed by the NSEB to pay a monthly assessment of $1 million to the Independent Energy System Operator Nova Scotia ("IESO Nova Scotia"), effective from February 1, 2026, to th...

AI summary On February 25, 2026, NSPI was ordered by the NSEB to pay a monthly assessment of $1 million to IESO Nova Scotia, to be deferred as a 'Regulatory asset' with interest accrued at NSPI's weighted average cost of capital, until a permanent fee recovery mechanism is established.

Guarantees and Letters of Credit NSPI's guarantees and letters of credit are consistent with those disclosed in the Company's 2025 annual audited consolidated financial statements.

AI summary NSPI's guarantees and letters of credit align with those disclosed in its 2025 annual audited consolidated financial statements.

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS There have been no material changes in NSPI's risk management profile and practices from those disclosed in the Company's 2025 annual MD&A.

AI summary NSPI has not experienced any material changes in its risk management profile and practices since those disclosed in its 2025 annual Management's Discussion and Analysis (MD&A).

Research by Efficiency Canada shows that reliance on government funding for equity- orientated programming is not without precedent. Efficiency Canada's 2025 Energy Efficiency Programs Report highlights the different sources of funding for...

AI summary The text discusses the funding of equity-oriented energy efficiency programs, highlighting that government funding is not new for E1, as seen in the success of the HomeWarming program. It also notes that government funding may lead to a more progressive cost recovery compared to electricity rates, but Brattle cannot comment on specific cost allocation details.

4.3. Spending and Funding Sources NB Power's energy efficiency and electrification efforts benefit from the use of federal and provincial funding. NB Power is responsible for the implementation, marketing and outreach, technical and custom...

AI summary NB Power's energy efficiency and electrification initiatives are supported by federal and provincial funding. The proposed DSM-related spending over three years totals $236 million, with significant declines in spending from 2024/25 to 2025/26. Spending is allocated across energy efficiency, demand response, and LMI electrification, with inconsistencies noted in the latter's funding over time.

1 2 E1 provided the modified-PAC for SE in response to Synapse IR-02 as Attachment 3 2, Appendix A, Round 2 Modelling Assumptions and Attachment 2, Appendix G, 4 Round 2 Measure Level Technical Tables 1SE-Base3. (b) These files do not indi...

AI summary E1 submitted modified-PAC files for SE in response to Synapse IR-02, but the files lack details on whether hourly load-shape data or annual averages were used to calculate peak-hour capacity costs, making it difficult to assess their impact on the modified-PAC calculation.

46 1 Customer projects increasingly combine efficiency, electrification, distributed generation, storage, and 2 controllable equipment. Siloed programs increase customer complexity and administrative costs and 3 make it more difficult to c...

AI summary Customer projects now combine efficiency, electrification, and distributed generation, but siloed programs increase complexity and costs. As efficiency opportunities become more capital-intensive, rebates are less effective. Modern DSM should focus on technical assistance, financing, and integration rather than separate programs. Affordability should be measured by value delivered per dollar invested.

21 1 (g) Please break down Table 36 and Exhibit E-1-(ii) custom programs 16 17 18 19 (a) A version of Table 15 disaggregated by individual program component (e.g., Custom Incentives, BNI Efficient Product Rebates, BNI Demand Response inclu...

AI summary The request asks for a breakdown of custom programs in Table 36 and Exhibit E-1-(ii), including disaggregation by program components and rate classes. It also requests details on interest calculations and reporting related to refunds and underspend during the DSM Plan period.