Topic:"Financial Instruments" in M12883

1 2.0 OVERVIEW OF TRANSACTIONS WITH NSPEMI 2 3 NSPEMI was set up so that NS Power could purchase natural gas and electricity in the U.S. without 4 having to engage a third party (or Emera Energy) to facilitate U.Sbased transactions. Using...

AI summary NSPEMI is a 100% NS Power-owned subsidiary that facilitates U.S.-based transactions for NS Power, eliminating the need for third-party involvement. It does not have employees or retain income, with costs passed through to NS Power. Transactions are subject to a pricing exception approved by the Board in M08911. In 2025, NSPEMI sold natural gas for NS Power and purchased electricity and natural gas for NS Power, with detailed transactions listed in appendices.

1 Figure 1: Comparison of Transactions Between NS Power and NSPEMI in 2025 Category NS Power Provided to NSPEMI, $ NSPEMI Provided to NS Power, $ Goods & Services (Contracted Amounts) Rentals Labour & Expenses Corporate Transactions Manage...

AI summary The text discusses the year-over-year comparison of transactions between NS Power and NSPEMI in 2025. It highlights an increase in natural gas sales by NSPEMI to NS Power and an increase in M&A services provided by NS Power to NSPEMI. It also mentions a decrease in purchases of natural gas and electricity by NSPEMI for NS Power compared to 2024.

1 3.0 OVERVIEW OF TRANSACTIONS WITH NSPML 2 3 In 2025, NS Power provided services to NSPML valued at $ million (compared to $ million 4 in 2024; a decrease of $0.1 million). There was $184.9 million worth of transactions in which NS 5 Powe...

AI summary In 2025, NS Power provided services to NSPML valued at a decrease of $0.1 million compared to 2024. NS Power received $184.9 million in services from NSPML, an increase of $509.1 million from 2024, mainly due to a one-time refund of $485.9 million from a federal loan guarantee. The Maritime Link assessment in 2025 was $158.2 million, excluding the FLG2, and $12.3 million lower than the Board-approved amount due to financing cost reductions and adjustments.

2025 Affiliate Code of Conduct Report Appendix B Page 2 of 3 Corporate Objective Targets Weighting (%) Result Approved Payout (%) Asset Management Operate, maintain and invest in the assets serving our customers to foster trust through imp...

AI summary This document outlines the 2025 Affiliate Code of Conduct Report Appendix B, which includes corporate objectives related to asset management and financial sustainability. Targets and results for cost reduction, outage duration, net income, and cash flow from operations are detailed, with some targets not being met.

Appendix C 2025 Utility Performance Report Category Measure 2025 2024 2023 Notes the CAM. Each M&A Service is allocated individually as specified in section 14.0 of Feb-25 3267654 Nova Scotia Limited (Terminal Road) 5112 9S-10-R 9S M & A S...

AI summary The text presents a portion of the 2025 Utility Performance Report, detailing various transactions and allocations related to M&A services, including sales and purchases with pricing exceptions and references to the Cost Allocation Manual (CAM). Notes mention sublease rates and specific sections of the CAM.

(Y/N) Reference Period Company InterCo ID Tag Pricing Exception Line Description Amount Purchase/Sale FMV/FAC/Pricing Exception Explanation Aug-25 Tampa Electric 6P-80 6P TECO Audit charges Labour ($1,556) Purchase FAC Sep-25 Tampa Electri...

AI summary The document outlines various financial transactions and adjustments made by companies such as Tampa Electric and Emera Inc. during specific periods, including audit charges, incentive payouts, and corporate allocations. These transactions are categorized under Fair and Appropriate Cost (FAC) and include details on non-regulated adjustments and affiliate transactions.

Date Nova Scotia Power Energy Marketing Inc. (NSPEMI) Jan-25 Nova Scotia Power Energy Marketing Inc. (INSPEMI) 1S-25 1S NG Sale Sale Pricing Exception Jan-25 Nova Scotia Power Maritime Link (NSPML) 5068 5S-120 5S CCO NSPML Preventative Mtc...

AI summary The document outlines several sales and pricing exceptions related to Nova Scotia Power Maritime Link (NSPML) and Nova Scotia Power Energy Marketing Inc. (NSPEMI), including costs determined based on the Cost Allocation Manual (CAM) and specific sections related to Corporate Overhead, Non-productive Rate, and M&A Services.

2025 Affiliate Code of Conduct Report Appendix D(11) Page 1 of 1 Ch ider Flo w T hro ugh es P arg rov Ch ecei Flo w T hro ugh es R arg ver Sho ipti rt D escr on ipti Lon g D escr on Cdn Do llar s Emera Inc. $ 211,134 $ 285,778 $ 982,120 $...

AI summary The document presents a summary of financial flows and transactions involving various entities, including Emera Inc., Grand Bahama Power Company Ltd., and NSP Pipeline Management Ltd., with specific dollar amounts listed for different categories such as flow throughs and long descriptions.

11 Request IR-2: - 12 Reference: Ex. N-1, Report, Appendix B, 2025 NS Power Corporate Scorecard, p. 3/3 (pdf 13 100/175) - 14 Preamble: Appendix B reports that the Financial Sustainable financial results 15 objective (Net Income, 30% weigh...

AI summary The document references the 2025 NS Power Corporate Scorecard, noting that the Financial Sustainable financial results objective and Cash Flow from Operations objective both performed below target. The NS Power Board adjusted elements of the Balanced Scorecard due to unique challenges in 2025, affecting the overall result of 98.4% of target.

- 5 Reference: Ex. N-1, Report, Appendix D(9a), Note, pdf. 116; Appendix D(9b), Note, pdf. - 6 117; Appendix D(10a), Note, pdf. 119; Appendix D(10b), Note, pdf. 120. - 7 Preamble: The notes to Appendices D(9a), D(9b), D(10a) and D(10b) dis...

AI summary The document references appendices that discuss the impact of the 2025 cyber incident on the availability of actual data for allocating M&A Services costs, leading to the use of forecasts and estimates. It requests clarification on the financial impact, methodology, true-up timing, and potential over/under-charging of affiliates.

Request IR-1: - With reference to Appendices D9 and D10. Nova Scotia Power (NS Power) notes that a significant - portion of 2025 Management and Administrative Services (M&A Services) was billed based on - forecast information and will be t...

AI summary Nova Scotia Power (NS Power) refers to Appendices D9 and D10, noting that a significant portion of 2025 Management and Administrative Services (M&A Services) was billed based on forecast information and will be adjusted to actual results. The request seeks confirmation on data availability, reconciliation timeline, and how final charges will be determined if data is missing.