Topic:"Hearing Procedures" in M12451

Good afternoon I am writing to oppose this rate increase in its entirety. As one of those affected by the recent cyber security breach at NSP, I feel that we the customers are being asked to cover the cost of NSP's complete and utter lack...

AI summary Nancy Selig opposes a rate increase by NSP, citing a cybersecurity breach and lack of due diligence. She argues customers should not bear costs of NSP's failures, highlighting the company's monopoly and inadequate security measures. Selig emphasizes that customers have no alternative power suppliers and criticizes NSP's prioritization of executive bonuses over reliable service.

\ \ EXTERNAL EMAIL / COURRIEL EXTERNE \ \ Exercise caution when opening attachments or clicking on links / Faites preuve de prudence si vous ouvrez une pièce jointe ou cliquez sur un lien Hello Crystal Thank you for your reply. I just left...

AI summary Peter Lynch highlights a discrepancy between Nova Scotia Power's (NSP) approved rate increases (26% over 6 years) and actual off-peak rate increases (42%), arguing that NSP's practice of raising off-peak rates above approved levels undermines the goal of promoting low-demand hour usage. He warns that if trends continue, off-peak rates will surpass standard rates by 2055 and urges reverting to original 50% standard rate offers.

2026-2027 General Rate Application M12451 Partially Confidential (Attachments Only) September 18, 2025

AI summary The document titled '2026-2027 General Rate Application M12451' is marked as partially confidential, with attachments. It was submitted on September 18, 2025, and pertains to a regulatory proceeding involving rate applications for the specified period.

Support for 2026-2027 GRA - Further to the letter filed with the Nova Scotia Energy Board (NSEB or Board) on September 2, - 2025, Nova Scotia Power Incorporated (NS Power or Company) is filing this General Rate - Application for 2026-2027...

AI summary Nova Scotia Power Incorporated (NS Power) submits a 2026-2027 General Rate Application (GRA) supported by customer representatives after a collaborative process. The GRA is based on a Cost-of-Service Study (COSS) and excludes cybersecurity attack costs. It reflects negotiated outcomes with reduced costs due to regulatory efficiencies.

9.2.4 Long-Term Income Tax Receivable - NS Power and the Canada Revenue Agency (CRA) remain in a dispute with respect to the timing - of certain tax deductions. The ultimate permissibility of the tax deductions is not in dispute; rather, -...

AI summary NS Power disputes the timing of tax deductions with the Canada Revenue Agency (CRA), leading to prepayments and a pending Tax Court appeal. The long-term income tax receivable increased due to interest from prior reassessments and disputed tax deduction timing. Outcomes of the appeal could result in refunds or additional payments.

Fuel-Related COSS - A traditional BCF Application considers setting BCF rates for a test period based on the fuel cost - requirement in accordance with COSS methodology and as prescribed in the FAM Plan of - Administration. Consistent with...

AI summary The document outlines the traditional approach to setting Base Cost of Fuel (BCF) rates using Cost-of-Service Study (COSS) methodology and the Fuel Adjustment Mechanism (FAM) Plan of Administration. It details the allocation of fuel costs among rate classes via the revised Plan of Administration (POA) and notes updates to the FAM POA due to stakeholder engagement, with supporting details in Appendix 6B and SR-01 Attachments 5 and 6.

14 PROPOSED RATES

AI summary The section outlines proposed rates for a regulatory proceeding, involving entities like Nova Scotia Power Inc. and the Nova Scotia Energy Board. Key topics include rate design, fuel adjustment mechanisms, and decarbonization deferral accounts, with references to various regulatory frameworks and financial metrics.

CRITICAL PEAK EVENT PROCEDURE - (1) In the Winter Period, Critical Peak Events exclude all hours on the following holidays: January 1, Nova Scotia Heritage Day, Good Friday, Easter Monday, November 11, December 25 and December 26. If Janua...

AI summary The Critical Peak Event Procedure outlines exclusions during holidays, NSPI's discretion in scheduling events based on energy conditions, advance notifications to customers, and limits on the number of events per season and week. Customers are encouraged to reduce usage during these events.

(1) Incandescent Effective: February 2, 2023

AI summary The document header indicates a regulatory proceeding related to incandescent lighting, effective February 2, 2023. No substantive content or arguments are provided in the text, as it only includes the heading and date.

SR-04 Lead-Lag Study Attachment 1 – Scott Madden Lead-Lag Study

AI summary The document references Attachment 1 of the SR-04 Lead-Lag Study, which appears to be a regulatory proceeding analysis conducted by Scott Madden. The study likely examines lead-lag relationships, though no detailed findings or arguments are provided in the excerpt.

2026-2027 GRA Direct Evidence Appendix 1B Page 1 of 4 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from a Nova Scotia regulatory proceeding related to the 2026-2027 GRA, with confidential information removed. No substantive content or arguments are visible in the provided text.

2026-2027 GRA Direct Evidence Appendix 3A Page 1 of 14 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is a redacted appendix from the 2026-2027 General Rate Application (GRA) proceeding, focusing on direct evidence. Key elements include regulatory considerations, cost recovery mechanisms, and potentially rate design issues, though specific details are confidential.

Appendix 03A – Status of 2023-2024 GRA Directives Information about each directive is found below. A status summary table is provided at the end of this Appendix.

AI summary This appendix outlines the status of 2023-2024 GRA Directives, with a summary table provided at the end. No specific details or arguments are included in the text provided, focusing only on the directive status overview.

4. DSM True-Up The Board's directive is found at para. 359 of the 2023-2024 GRA Decision: As the issue of DSM true-up for prior period variances was not addressed in the GRA Settlement Agreement, the Board makes no determination at this ti...

AI summary The Nova Scotia Energy Board (NSEB) has not determined DSM true-up variances from the GRA Settlement Agreement, directing NS Power to provide updates with future DCRR applications. NS Power addressed historical DSM true-up in M11352 and considers the matter complete.

2026-2027 GRA Direct Evidence Appendix 3A Page 5 of 14 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia. It contains confidential information removed, with no explicit content provided beyond the heading and page reference.

2026-2027 GRA Direct Evidence Appendix 3A Page 6 of 14 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary Redacted appendix from the 2026-2027 General Rate Application (GRA) proceeding, focusing on direct evidence. Context involves regulatory considerations for utility rate structures, cost recovery mechanisms, and potential impacts on customer classes.

15. WACC and AFUDC Methodology The Board rendered its decision on NS Power's 2025 Weighted Average Cost of Capital (WACC) and Accumulated Funds Used During Construction (AFUDC) on March 21, 2025. In the decision, the Board made the followi...

AI summary The Nova Scotia Energy Board directed NS Power to review its 2025 WACC and AFUDC methodology for a broader analysis in the 2026 application, citing a decade since the last review. The Board emphasized evaluating alternative forecasting approaches, debt balance calculations, and administrative efficiency, with findings to be included in the 2026 GRA or WACC/AFUDC application.

2026-2027 GRA Direct Evidence Appendix 3B Page 6 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia. It contains confidential information removed, with no substantive content provided in the excerpt.

2026-2027 GRA Direct Evidence Appendix 3B Page 16 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is a redacted appendix from the 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia, with confidential information removed. It is part of a regulatory process involving utility cost recovery and rate design considerations.

2026-2027 GRA Direct Evidence Appendix 3B Page 34 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Figure 4.1: Overview of NS Power's Asset Management Mechanism

AI summary The document includes Figure 4.1, which outlines NS Power's Asset Management Mechanism as part of the 2026-2027 GRA Direct Evidence Appendix. The figure is referenced in a redacted section of the regulatory proceeding, focusing on asset management processes.

2026-2027 GRA Direct Evidence Appendix 3B Page 38 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Figure 5.2: Risk Mitigation Options for High Risk Assets

AI summary The document contains a redacted page from a Nova Scotia regulatory proceeding related to the 2026-2027 General Rate Application (GRA). It references Figure 5.2, which discusses risk mitigation strategies for high-risk assets, though specific details are confidential.

2026-2027 GRA Direct Evidence Appendix 3B Page 40 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia, specifically Appendix 3B, Page 40 of 54. The content has been removed due to confidentiality, but it is part of a regulatory process involving cost recovery and rate-setting.

2026-2027 GRA Direct Evidence Appendix 3B Page 44 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted page from the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 3B, part of a Nova Scotia regulatory proceeding. No substantive content is visible due to redaction, but it is associated with cost recovery, rate design, and regulatory processes.

2026-2027 GRA Direct Evidence Appendix 3B Page 46 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia. It includes a list of acronyms and terms relevant to energy regulation, cost recovery mechanisms, and infrastructure planning, though the actual content is confidential and removed.

2026-2027 GRA Direct Evidence Appendix 3B Page 49 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This redacted page from the 2026-2027 GRA Direct Evidence Appendix 3B highlights confidential information removed from a Nova Scotia regulatory proceeding related to general rate applications. The document is part of a larger appendices set (Page 49 of 54).

2026-2027 GRA Direct Evidence Appendix 3C Page 9 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is a redacted page from Appendix 3C of the 2026-2027 General Rate Application (GRA) proceeding. It contains confidential information removed, focusing on regulatory evidence related to cost recovery, rate design, and energy management programs in Nova Scotia.

2026-2027 GRA Direct Evidence Appendix 3C Page 14 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted page from the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 3C, part of a Nova Scotia regulatory proceeding. No substantive content is visible due to redaction, but it is part of a broader rate-setting process involving cost recovery and regulatory analysis.

2026-2027 GRA Direct Evidence Appendix 3C Page 20 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from a Nova Scotia regulatory proceeding related to the 2026-2027 General Rate Application (GRA). Confidential information has been removed, and no substantive content is visible for analysis.

2026-2027 GRA Direct Evidence Appendix 3C Page 25 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from the 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia, containing confidential information removed. It is part of a larger document with 38 pages, currently on page 25.

2026-2027 GRA Direct Evidence Appendix 3C Page 30 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is part of a 2026-2027 GRA (General Rate Application) proceeding in Nova Scotia, with the content redacted. It is Appendix 3C, Page 30 of 38, and contains confidential information removed.

2026-2027 GRA Direct Evidence Appendix 3C Page 37 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia. The content is confidential and removed, but the appendix is part of a regulatory process involving cost recovery, rate design, and utility operations. Key entities include Nova Scotia Energy Board (NSEB) and Nova Scotia Power Energy Marketing Inc. (NSPEMI).

REDACTED 2026-2027 GRA Direct Evidence Appendix SA Page 5 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - 1 Figure 2, Figure 3 and Figure 4 below provide a breakdown of generation by type for 2025, - 2 2026 and 2027 respectively. 4 Fig...

AI summary The document provides figures (2025-2027) showing generation by energy type as part of the 2026-2027 GRA Direct Evidence Appendix. Visual data (images) are referenced but redacted, focusing on energy production breakdowns for regulatory analysis.

REDACTED 2026-2027 GRA Direct Evidence Appendix SA Page 7 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia, containing confidential information. Key acronyms related to energy regulation, cost recovery, and infrastructure are listed, though no substantive content is visible due to redaction.

REDACTED 2026-2027 GRA Direct Evidence Appendix 5A Page 9 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia. It contains confidential information removed, with no substantive content provided in the excerpt.

1 Figure 8 - CONFIDENTIAL 2024-2027 Comparison of Cost of Fuel/MWh 4 Figure 9 - 2024 Breakdown of BCF by Fuel and Purchased Power Type

AI summary Confidential figures compare fuel costs from 2024-2027 and detail the 2024 breakdown of Base Cost of Fuel (BCF) by fuel type and purchased power. The analysis focuses on fuel cost trends and composition, critical for regulatory decision-making in Nova Scotia's energy sector.

REDACTED 2026-2027 GRA Direct Evidence Appendix SA Page 27 of 38

AI summary The document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia. It includes technical and regulatory terminology related to energy management, cost recovery mechanisms, and utility operations, though no specific content or arguments are visible due to redaction.

REDACTED 2026-2027 GRA Direct Evidence Appendix 5A Page 34 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary Redacted page from a Nova Scotia regulatory proceeding related to the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 5A. The document contains confidential information and includes a list of acronyms relevant to energy regulation, utility operations, and environmental policies.

REDACTED 2026-2027 GRA Direct Evidence Appendix 5A Page 36 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is part of a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia, with confidential information redacted. It references regulatory processes involving cost recovery, rate adjustments, and energy management systems, though specific details are omitted.

REDACTED 2026-2027 GRA Direct Evidence Appendix 5A Page 38 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This redacted document is part of a Nova Scotia regulatory proceeding related to the 2026-2027 General Rate Application (GRA). It contains confidential information removed from Appendix 5A, Page 38 of 38, likely involving evidence or data pertinent to rate-setting, cost recovery, or compliance with energy regulations.

2026-2027 GRA Direct Evidence Appendix 6A Page 1 of 10 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from a Nova Scotia regulatory proceeding related to the 2026-2027 General Rate Application (GRA). It contains confidential information and no substantive content is visible in the provided text.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 6A Page 2 of 10

AI summary The document is a redacted page from a Nova Scotia regulatory proceeding related to the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 6A. It is page 2 of 10, with confidential information removed. The GRA process involves rate-setting and cost recovery mechanisms for utility services.

2026-2027 GRA Direct Evidence Appendix 6A Page 8 of 10 REDACTED (CONFIDENTIAL INFORMATION REMOVED) fuel costs to the POA. One was accepted, three were not. The Board stated in its decision - "Given the nature of the first three costs, the...

AI summary The Board accepted one fuel cost and rejected three others, with a possibility of reconsideration in the future with a GRA. The three rejected costs are outlined with their forecasted test period costs.

1.4.4 Removal of Appendix D "FAM Regulatory Calendar" NS Power is requesting that the NSEB agree to remove the requirement to include a calendar in the POA. Appendix D, when drafted, includes dates and processes that are unknown at the tim...

AI summary NS Power requests the NSEB to remove Appendix D from the POA, arguing it contains unreliable dates and processes for FAM-related activities. Known timelines (e.g., reporting) are in section 4.0, while Hearing Orders specify dates for audits and proceedings. NS Power asserts Hearing Orders are the accurate resource for stakeholders.

1.4.6 Housekeeping Updates The revised POA submitted includes a number of changes related to housekeeping items, including: - References to Nova Scotia Utility and Review Board (NSUARB) are changed to Nova Scotia Energy Board (NSEB); - Upd...

AI summary The revised POA includes updates to references from NSUARB to NSEB, revised dates for the 2026/2027 GRA process, and adjustments in section 3.1 for transitioning to a FAM class.

2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 1 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary Redacted appendix for the 2026-2027 General Rate Application (GRA) in Nova Scotia, focusing on direct evidence. The document is part of a regulatory proceeding involving cost recovery mechanisms and energy management systems, with confidential information removed.

NS Power FUEL ADJUSTMENT MECHANISM PLAN OF ADMINISTRATION IN EFFECT FOR 2026-2027

AI summary NS Power's Fuel Adjustment Mechanism Plan of Administration for 2026-2027 outlines the framework for managing fuel costs and related adjustments. The plan is subject to regulatory oversight by the Nova Scotia Energy Board (NSEB) and involves mechanisms like the DSM Cost Recovery Rider (DCRR) and General Rate Application (GRA).

2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 5 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia. Confidential information has been removed, and the content pertains to direct evidence submitted as part of the regulatory process.

2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 15 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 504450 REG GRID SALES FUEL DIESEL

AI summary A line item from Appendix 6B of the 2026-2027 GRA Direct Evidence document, referencing 'REG GRID SALES FUEL DIESEL' under a redacted section. The entry appears to pertain to diesel fuel sales within the regulatory proceeding, though confidential information has been removed.

2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 20 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from the 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia. No substantive content is visible due to redaction, but it is part of a regulatory process involving cost recovery, rate design, and utility operations.

2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 21 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is part of the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 6B, page 21 of 33. It contains redacted confidential information related to regulatory proceedings in Nova Scotia. The GRA process involves cost recovery mechanisms, rate design, and evidence submission for utility services.

4.0 FILING AND PROCEDURAL DEADLINES

AI summary This section outlines procedural deadlines and filing requirements for the regulatory proceeding, though no specific details are provided in the text.

2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 24 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted page from the 2026-2027 GRA Direct Evidence Appendix 6B, part of a Nova Scotia regulatory proceeding. No substantive content is visible due to redaction, but it is associated with the General Rate Application process.

2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 28 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia, focusing on direct evidence. Confidential information has been removed, limiting the visibility of specific arguments or data.

2026-2027 GRA Direct Evidence Appendix 6B (Redline) Page 5 of 35 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia, containing confidential information removed. It is part of the Direct Evidence Appendix 6B (Redline), page 5 of 35.

2026-2027 GRA Direct Evidence Appendix 6B (Redline) Page 17 of 35 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is part of the 2026-2027 General Rate Application (GRA) process, specifically Appendix 6B (Redline) from a Nova Scotia regulatory proceeding. The content is redacted, indicating confidential information has been removed, and it appears to be a draft or revised version of evidence submitted for review.

504450 REG GRID SALES FUEL DIESEL

AI summary This document pertains to a Nova Scotia regulatory proceeding (504450) concerning grid sales of diesel fuel. The context includes numerous acronyms related to energy regulation, cost recovery mechanisms, and infrastructure management. Key entities involve Nova Scotia Power Energy Marketing Inc. (NSPEMI) and the Nova Scotia Energy Board (NSEB).

4.0 FILING AND PROCEDURAL DEADLINES

AI summary The section outlines procedural deadlines and filing requirements for regulatory proceedings, though no specific details or arguments are present in the provided text.

2026-2027 GRA Direct Evidence Appendix 6B (Redline) Page 26 of 35 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted page from a Nova Scotia regulatory proceeding related to the 2026-2027 General Rate Application (GRA). It includes a direct evidence appendix focusing on cost recovery mechanisms, though specific details are omitted due to confidentiality.

2026-2027 GRA Direct Evidence Appendix 6B (Redline) Page 30 of 35 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted page from the 2026-2027 GRA Direct Evidence Appendix 6B, part of a Nova Scotia regulatory proceeding. No substantive content is visible due to confidentiality redactions.

AI summary This document is part of a 2026-2027 Nova Scotia Utility and Review Board (NSUARB) General Rate Application (GRA) proceeding, containing redacted direct evidence from Appendix 7C. Confidential information has been removed, and the content relates to regulatory proceedings involving energy infrastructure and rate design.

CONFIDENTIALITY NOTICE The document you are attempting to access has been filed in confidence. Some exhibits, noted as confidential, contain information which if released might cause financial or other harm to the party filing it, or which...

AI summary The document is marked confidential under Nova Scotia Energy Board rules. Access requires a Confidentiality Agreement. Contact details for the Board are provided, along with document identifier 320036.

No significant change since 2020; therefore, apply inflation factor. 124 Phase 4 - Preparation of Decommissioning and Clean-up Plans 98,400 Update Quantitative Risk Assessment and updated ERMP based on results of detailed testing program,...

AI summary The text mentions no significant change since 2020 and the application of an inflation factor. It discusses Phase 4, which involves the preparation of decommissioning and clean-up plans, along with updates to risk assessments and environmental risk management plans. It also references public hearings and a reduced level of effort between 2010 and 2020.

NON-CONFIDENTIAL 1 survivor curve and the average remaining life used in the company's previous depreciation 2 study is included in the table below for these assets. NS Power is undertaking a 3 depreciation study, required to be filed in a...

AI summary NS Power is conducting a depreciation study to update estimates for asset depreciation, which will be filed ahead of the next GRA proceeding. The current estimates, based on a survivor curve and average remaining life, are included in a table.

Board Directive - GRA The 2022-2024 GRA Settlement Agreement provided as follows regarding the Line Loss Study and COSS: NS Power must file a Cost of Service Study and a Line Loss Study prior to filing its next GRA or December 31, 2025, wh...

AI summary The 2022-2024 GRA Settlement Agreement requires NS Power to file a Cost of Service Study and Line Loss Study, with stakeholder engagement, prior to the next GRA or December 31, 2025. The NSUARB directed semi-annual progress reports starting January 31, 2024. Costs may be deferred and recovered through future rates with Board approval.

CONFIDENTIALITY NOTICE The document you are attempting to access has been filed in confidence. Some exhibits, noted as confidential, contain information which if released might cause financial or other harm to the party filing it, or which...

AI summary Confidentiality notice for a Nova Scotia Energy Board document (320036) filed in confidence. Access requires a Confidentiality Agreement. Contact details provided for the Board, including phone numbers and email. Document highlights the need for restricted access due to potential financial or privacy risks.

Lower Water Street Halifax, Nova Scotia Depending on the circumstances, this public hearing may be held by video conference. Board Hearings are open to the public and you may participate as follows: - You may listen to the live hearing by...

AI summary Nova Scotia Energy Board notifies a public hearing for a regulatory proceeding, detailing participation methods (live listening, speaking, written comments, intervenor requests), deadlines (October 15, November 27, December 2), and access to Matter No. M12451 via the Board and NS Power websites.

NON-CONFIDENTIAL Category ($ Million) 2023 2024 2025 2026 2027 17 (d) See NS Power's response to NSEB IR-47(b). 18 19 (e) See NS Power's response to NSEB IR-47(b). 20 21 (f) NS Power's forecast was based on a point in time. The IESO-NS com...

AI summary The document outlines NS Power's responses to the NSEB regarding various financial and operational forecasts, including deferrals, cost reductions, and potential tax expenses. It references the IESO-NS, GRA, and other regulatory processes, highlighting uncertainties and future considerations.

Detailed Experience August 2005 – Present Managing Director, MPA Morrison Park Advisors Inc. - Focus on utility and energy sector clients, and on infrastructure projects, crown corporations, and cleantech (MPA also covers mining, technolog...

AI summary The text outlines the professional experience of an individual who has served as an expert witness and consultant in various regulatory and utility-related proceedings across Canada, including matters related to cost of capital, rate applications, and infrastructure projects such as the Maritime Link and Muskrat Falls.

be used for the supply of electricity to customers, filed as compliance in this proceeding, every six months until the plant is being used for the supply of electricity to customers. [18](#page-24-0) The fundamental rule that plant must be...

AI summary The document discusses the inclusion of the Barnum Avenue Bridge Replacement Project in the rate base, emphasizing that plant must be used and useful before being included. It criticizes the company for not proactively identifying the project as a special circumstance in its application and outlines future requirements for rate base inclusion.

actions is a laudable undertaking, which the Authority supports, more is required to ensure satisfactory service to all customers, and especially those in need of energy assistance. [143](#page-259-0) Ultimately, though, the most recent ca...

AI summary The Authority acknowledges improvements in customer service performance by Alorica compared to the previous vendor, iQor, but emphasizes the need for continued improvement, especially for customers requiring energy assistance. The Authority will monitor performance in future rate and affordability proceedings.

UTILITY RATE PROCEEDINGS IN WHICH TESTIMONY HAS BEEN PRESENTED BY JACOB POUS ALASKA Entergy Gulf States, Inc. 21111 • F-1 C16 C1-1 I 21204 F1 C1 Entergy Gulf States, Inc. 21384 Fuel Surcharge Entergy Gulf States, Inc. 23000 Fuel Surcharge...

AI summary This document lists utility rate proceedings in which Jacob Pous has provided testimony, including various matters related to fuel surcharges, unbundling, competition, and cost of service, primarily involving Entergy Gulf States, Inc. in Alaska.

Signif. Codes: \ \ \ : 0.01, \ \ : 0.05, \ : 0.1 Notes: The dependent variable is approved RoE in percentage points. The omitted category for case type is Distribution. The omitted category for decision type is Settled. The omitted categor...

AI summary The analysis examines factors influencing approved return on equity (RoE) in rate cases, finding correlations between commissioner composition and RoE outcomes. Elected commissioners, longer tenures, and Democratic affiliations are associated with lower RoE, while larger utilities may receive higher returns. Data includes time-fixed effects and utility-specific variables from 1990 onwards.

b) Other unmetered scattered loads The Working Group recommended that each distributor establish and verify a deemed load profile for scattered unmetered loads. The Board accepts this recommendation and notes the importance of verifying a...

AI summary The Board accepts the Working Group's recommendation that distributors establish and verify deemed load profiles for scattered unmetered loads. It emphasizes the need for reasonable profiles and encourages cooperation with customers and cable operators like Rogers Cable TV. Distributors are directed to provide full details in cost allocation studies and address customer concerns through rate hearings if needed.

NOVA SCOTIA ENERGY BOARD

AI summary The Nova Scotia Energy Board is involved in a regulatory proceeding, though specific details, arguments, or cited matters are not provided in the text.

The Board orders that: - 1. The public hearing for this matter will start on Wednesday, January 7, 2026, at 9:00 am, at the Offices of the Board, Summit Place, 3rd Floor, 1601 Lower Water Street, Halifax, Nova Scotia, and continue until Fr...

AI summary The Board has ordered a public hearing starting January 7, 2026, in Halifax, with specific dates and procedures outlined, including a timeline for filings, interventions, and the application of the Board's Regulatory Rules.

The Board orders that: - 1. The public hearing for this matter will start on Wednesday, January 7, 2026, at 9:00 am , at the Offices of the Board, Summit Place, 3rd Floor, 1601 Lower Water Street, Halifax, Nova Scotia , and continue until...

AI summary The Board sets a public hearing from January 7-16, 2026, in Halifax, with specific deadlines for interventions, speaking requests, and evidence submissions. The proceeding follows the Board's Regulatory Rules, including a 2:00 pm filing deadline. Notices will be published in local media and posted online.

rvice Study. - 10.Continuation of the Storm Cost Recovery Rider pilot in 2026 and 2027, but on a symmetrical basis so that unspent forecast Level 3 and 4 storm costs are refunded to customers. - 11.Changes to the Miscellaneous Charges set...

AI summary NS Power proposes continuing the Storm Cost Recovery Rider pilot on a symmetrical basis, implementing an AMI Opt-out Fee, revising fees in Regulations 7.1 and 7.3, and maintaining a 2% annual increase to the Pole Attachment Fee. A public hearing is scheduled for January 2026 at the Office of the Board in Halifax.

NOVA SCOTIA ENERGY BOARD

AI summary The document is a regulatory proceeding by the Nova Scotia Energy Board. However, no detailed information or content is provided in the text beyond the heading.

NOVA SCOTIA INDEPENDENT ENERGY SYSTEM OPERATOR Jason T. Cooke, K.C Danielle J. Keating

AI summary The document pertains to a regulatory proceeding involving the Nova Scotia Independent Energy System Operator. It lists Jason T. Cooke, K.C., and Danielle J. Keating as participants, though no further details about the proceeding's context, arguments, or outcomes are provided in the excerpt.

NOVA SCOTIA LIBERAL CAUCUS Chris Abraham Iain Rankin

AI summary This document pertains to a regulatory proceeding involving the Nova Scotia Liberal Caucus. Key individuals associated with the proceeding include Chris Abraham and Iain Rankin. No specific claims, topics, or cross-references are detailed in the provided text.

PORT HAWKESBURY PAPER LP David MacDougall, Counsel James MacDuff, Counsel Melanie Gillis, Counsel

AI summary The document pertains to a regulatory proceeding involving Port Hawkesbury Paper LP, with David MacDougall, James MacDuff, and Melanie Gillis serving as counsel. No further details on arguments or topics are provided in the excerpt.

3.1.1 Findings [41] As noted above, the NSUARB has considered settlement agreements in past matters. The Board appreciates the efforts of parties to resolve contested issues in matters coming before it and encourages such initiatives to co...

AI summary The NSUARB emphasizes that while settlement agreements are valuable, they must be just, reasonable, and in the public interest. It notes that the current settlement was reached before the application was filed, affecting its weight. The Board approves some terms but requires amendments to ensure fair rates.

Q. So in this case, it refers to Appendix 5A and it says: On page 34 of Appendix 5A, the application states that NSPML's forecast assessments for the Maritime Link against Nova Scotia Power are $200.5 million in 2026 and $203.9 million in...

AI summary The document discusses discrepancies between projected and actual assessments for the Nova Scotia Power Maritime Link (NSPML) under the Federal Loan Guarantee (FLG). The 2026 assessment was reduced by $1.8 million, primarily due to a $1.8 million decrease in FLG costs, with similar reductions expected in 2027. The speaker questions whether adjustments should be made to the base cost of fuel based on these differences.

3.2.2 FAM Plan of Administration and Fuel Manual

AI summary The FAM Plan of Administration and Fuel Manual outlines procedures for managing fuel costs and administrative processes under Nova Scotia's Fuel Adjustment Mechanism. It addresses regulatory oversight, compliance with energy policies, and ensures alignment with utility operations and rate design frameworks.

3.2.2.1 Plan of Administration [60] In its application, NS Power requested approval of amendments to the FAM Plan of Administration as described in Section 6 and Appendix 6A and set out in Appendix 6B. On page 32 of the application, NS Pow...

AI summary NS Power seeks approval to amend the FAM Plan of Administration (POA) for the 2026-2027 GRA period, including aligning fuel costs with COSS, adding renewable program credits, and moving OM&G expenses to FAM. The NSEB requested clarification on language in the amendment, and NS Power referenced prior Board decisions and matter M11127.

Further, Sections 40 and 41 of the PUA state:

AI summary Sections 40 and 41 of the Public Utilities Act (PUA) are referenced, outlining provisions relevant to regulatory proceedings in Nova Scotia.

es and procedures for this DDA through a consultative process after the general rate application. The Board agreed with this approach in its 2023-2024 GRA Decision and approved the DDA in principle. [129] In Matter M11220, NS Power filed a...

AI summary The document discusses the Decarbonization Deferral Account (DDA) and its approval by the Nova Scotia Utility and Review Board (NSUARB) in Matter M11220. NS Power proposed policies for DDA asset management, but the Board deferred depreciation rate changes until the next General Rate Application (GRA). The GRA proceeding also addresses NS Power's intent to securitize DDA assets.

rd approves the exclusion of these costs for the 2026 and 2027 test years; however, its decision is limited to those years. How NS Power proceeds after the test years may be subject to further review. [165] The above notwithstanding, the B...

AI summary The Board approved excluding Wreck Cove, Mersey, and Tusket Hydro System decommissioning costs from depreciation rates for 2026 and 2027, but this decision is limited to those years. Mr. Madsen recommended NS Power reconcile net salvage costs collected since 2009, which the Board agreed to and directed NS Power to include in its next depreciation study.

ncies are costs that are expected to be incurred". Based on this statement alone, the Board sees no valid reason why contingency costs should be removed from generation decommissioning cost estimates. [173] In addition, the Board notes tha...

AI summary The Board opposes removing contingency costs from decommissioning estimates, citing AACE Class 4/5 standards and Gannett Fleming's inclusion of these costs. Contingency allowances (20-25%) are justified for different project definitions, and no evidence supports their exclusion. Gannett Fleming's role as NS Power's expert reinforces this stance.

resulting in more use of the procedure. He also noted that ELG is currently used in Alberta and Newfoundland. His evidence also indicated that ALG is used by Maritime Electric in Prince Edward Island. [204] For this GRA, NS Power submitted...

AI summary NS Power advocates for the use of ELG (Equal Group Life) over ALG (Average Group Life) in rate base calculations, arguing it reduces financing costs more quickly. The Board will evaluate ELG/ALG methodology differences and intergenerational equity. NS Power has used ELG for over 30 years, citing real retirement data. Maritime Electric uses ALG in Prince Edward Island.

of this mechanism being proposed by an investor-owned regulated utility in Canada. A form of securitization was applied in Ontario a few years ago for Ontario Power Generation, a Crown-owned utility. [287] A successful securitization shoul...

AI summary The text discusses securitization as a potential cost-saving mechanism for ratepayers, contrasting the current weighted average cost of capital (6.65%) with projected bond issuance rates (5%). It notes NS Power's historical reluctance to adopt securitization, despite previous regulatory encouragement and its use in addressing FAM balances and coal plant retirement costs. The Board and intervenors have urged NS Power to explore this option.

r securitization as the end of 2025 approached. On December 22, 2025, NS Power wrote to the Board requesting a securitization deferral pending the legislation being proclaimed and regulations enacted: As stated in response to NSEB IR-89(a-...

AI summary NS Power requested interim deferral of depreciation and financing costs related to securitization until Q1 2026, pending legislation and regulations. The timeline was later extended to Q2-Q3 2026. The Board noted lack of intervenor input and ongoing engagement with the provincial government.

sting rates are not sufficient to meet NS Power's revenue requirements, it remains NS Power's obligation to bring forward GRAs in a timely manner. [PHP Closing Submissions, January 30, 2026, pp. 7-8] [328] It is up to NS Power to effective...

AI summary NS Power's delayed filing of a GRA in late 2025 caused regulatory delays, prompting the Board to criticize its mismanagement of the securitization deferral timeline. The Board upheld WACC application for the deferral account despite Emrydia's objections, emphasizing NS Power's responsibility to avoid retroactive ratemaking.

3.5.1.4 PHP Deferral [335] PHP currently takes service from NS Power under the Extra Large Industrial Active Demand Control (ELIADC) tariff, which is a Below-the-Line (BTL) tariff. The costof-service study supporting this general rate appl...

AI summary PHP was initially under the ELIADC (BTL) tariff, but NS Power's GRA assumed an ATL tariff for 2026-2027. The Board extended ELIADC until 2026 but required a successor ATL tariff (ELID) by 2025. NS Power applied for ELID, expecting PHP to switch by 2027, with ADC services and interruptible credits included in the new tariff.

impact on the utility's financial condition; and the costs are not beyond the utility's control. Such expenses were anticipated and should have been included in the prior GRA if they were not already. [361] The Board denies NS Power's defe...

AI summary The Board denies NS Power's deferral of GRA-related costs except for the Cost-of-Service Study (COSS) and Line Loss Study. NS Power argued these costs were anticipated and should have been included in prior GRA filings, but the Board directs adjustments to revenue requirements by excluding non-COSS/Line Loss Study costs.

3.5.1.6 Payment of Interest on Deferral Accounts [362] The payment of interest to NS Power on its deferral accounts is subject to s. 64AB of the Public Utilities Act . In its 2023-2024 GRA Decision, the Board concluded that it was appropri...

AI summary The Nova Scotia Utility and Review Board (Board) determines interest rates on Nova Scotia Power Inc.'s (NS Power) deferral accounts under s. 64AB of the Public Utilities Act. The Board set interest at NS Power's WACC in its 2023-2024 GRA Decision and reaffirmed this approach in the 2025 DCRRC proceeding (M11912). A generic proceeding will address s. 64AB issues, with London Economics International LLC preparing a report.

definite and immediately determinable. The accounting objectives of verifiability and neutrality are also satisfied. [Emphasis added] [ Depreciation Expense: A Primer for Utility Regulators , p. 12] [408] In 2022, the Public Utilities Act...

AI summary The 2022 amendment to the Public Utilities Act added s. 30(5), directing the Board to assess NS Power's assets. In 2023, the NSUARB initiated a proceeding, hiring consultants to review asset management and accounting policies. The Department's request under s. 30(2) is deemed duplicative of the ongoing proceeding under s. 30(5).

3.6.3.1.3 The Requirement for Prudence [429] Prudence is, of course, always a consideration. The language used in s. 30(2) of the Public Utilities Act is not simply "original cost" but "prudent original cost". A utility is entitled to the...

AI summary The regulatory proceeding discusses the legal requirement for prudence in utility cost recovery under the Public Utilities Act. The Board emphasizes that costs must be 'prudent original cost,' with a presumption of prudence for Nova Scotia Power Inc. (NSPI) that can be rebutted using hindsight. Disagreements arise over applying these principles in Fuel Adjustment Mechanism (FAM) audits, particularly regarding thresholds for rebutting prudence and whether human error constitutes imprudence.

ROE and potentially a lower cost of debt than would be the case under a policy focused on the used and useful test. In the long run, the application of a lower ROE to the totality of a utility's rate base can be more beneficial to rate pay...

AI summary The Board discusses how a lower ROE can benefit rate payers by preventing over-investment by utilities like NSPI. Prudency reviews are emphasized to ensure investments are proper and avoid rate base inflation. Regulatory proceedings test utility investments to align rates with competitive market pricing rather than monopolistic pricing.

equity in capital markets that are affected by macroeconomic indicators and central bank policies. Concentric's evidence filed with NS Power's application used market data as recent as February 2025. [456] Concentric believes that since th...

AI summary Concentric argues that NS Power requires a 9.9% return on equity to attract investment for its energy transition, citing stable capital costs since the last GRA but long-term challenges like climate change. This recommendation, based on DCF and CAPM models with flotation cost adjustments, exceeds the settlement agreement's proposed ROE.

3.7.3 Return on Equity Modeling [470] In the discussion that follows, references to results from Concentric's analysis are to the update it provided in Undertaking U-14 using the analysis as generally described in its original report [Exhi...

AI summary The section references Concentric's updated analysis in Undertaking U-14, based on its original report in Exhibit N-8, Appendix 10A, for North American proxy group data.

3.7.3.3 Risk Premium Model [498] The risk premium model can be based on differences in the return between bonds and equity or the expected bond-equity return spread. The risk premium model accounts for equity holding more risk than debt be...

AI summary The risk premium model calculates return on equity based on bond yields and equity risk premiums. Concentric and Dr. Cleary applied the model differently, with distinct formula components as outlined in a table. The model reflects higher returns for equity due to residual risk compared to debt.

t a higher return on equity and a thicker equity ratio based on Concentric's evidence, but it was maintaining its current return on equity and capital structure to balance affordability for customers: In sum, NS Power is aware of the need...

AI summary NS Power seeks to maintain a 9.0% ROE and 40% equity ratio, citing affordability concerns despite Concentric's higher market-based ROE estimates. It argues Dr. Cleary's evidence is flawed due to limited company comparisons and reliance on personal judgment over market data.

group produced the lowest results in all its models and the Canadian companies within its North American proxy group produced lower return on equity results than the U.S. companies in all its models. [523] On the other hand, the Board does...

AI summary The Board acknowledges that U.S. data may inflate ROE results but criticizes Dr. Cleary's exclusion of U.S. utilities, which could understate risks faced by NS Power. It emphasizes the limited pool of Canadian regulated utilities and the relevance of comparing NS Power to Canadian peers with similar generation and decarbonization risks. The Ontario Energy Board's similar conclusion is noted.

Classification of Generation Costs by System Load Factor NS Power's current approach to the classification of generation-related fixed costs such as depreciation and financing costs is to first classify environmental and fuel conversion-re...

AI summary NS Power proposes to revise its method for classifying generation costs, moving from a hybrid approach that allocated some capital costs to energy and others to demand toward a system-wide load factor classification for all generation assets, including peaking, wind, and remaining generation resources.

regulators should classify distribution costs as demand costs. Neither of these procedures can be justified as a cost allocation in the sense of directly assignable costs, for they are nonassignable. Allocation, in whole or in part, would...

AI summary The text discusses the classification of distribution costs as demand costs, arguing against nonassignable cost allocation methods. It suggests adding customer density parameters could allow allocation but would violate rate uniformity traditions. Ms. Palmer recommends deferring the basic customer method decision to 2026 and proposes limiting minimum system studies to secondary distribution systems.

[605] In its submissions, the Consumer Advocate noted: The Consumer Advocate shares Ms. Palmer's concerns regarding the Minimum System Method, and through the Settlement Agreement, and resulting GRA, NS Power has agreed that the use of the...

AI summary The Consumer Advocate supports a separate proceeding for the Minimum System Method, while the NDP and Liberal Caucuses advocate for the basic customer method to fairly allocate distribution costs. NS Power defends using the COSS for cost allocation.

3.8.2.1 Findings [608] Under a cost-of-service model, the objective is to fairly allocate costs to customers based on cost causation. This has been a chronically difficult thing to do for distribution system costs. It would be inappropriat...

AI summary The Nova Scotia Utility and Review Board (Board) finds that neither the basic customer method nor the minimum system method adequately allocates distribution system costs under a cost-of-service model. The Board criticizes NS Power for not addressing this issue in the settlement agreement and requires further information. The matter will be revisited in a future proceeding due to unresolved concerns about cost causation and stakeholder input.

the absence of a specific calculation, recommended that each customer class be credited with 1.5 kW/customer to the non-coincidental peak demands used for determining minimum system demand allocators. [620] Based on her pre-filed evidence...

AI summary Ms. Palmer recommended a 1.5 kW/customer proxy for non-coincidental peak demand credits until NS Power provides a more accurate peak load carrying capability adjustment. She cited examples from Ontario, Minnesota/South Dakota, and New York State, positioning 1.5 kW as a middle-ground approximation.

Proposed COSS Methodology Modified COSS Methodology as per U-6 Variance Smoo othed Sm oothed Smoo thed Customer Class 2026 2027 2026 2027 2026 2027 Domestic 3.8 4.1 3.2 3.7 (0.6) (0.4) Small General 3.6 3.9 3.4 3.8 (0.2) (0.1) General (0.2...

AI summary The table compares proposed and modified Cost-of-Service Study (COSS) methodologies under Undertaking 6 (U-6), showing variances in cost allocations across customer classes (e.g., Domestic, Large Industrial). The data highlights differences between 2026 and 2027 projections, with significant variations in cost estimates for specific classes. The exhibit (N-77) is referenced as part of the regulatory proceeding.

3.8.4.1 Findings [624] Notwithstanding the settlement agreement, the Board finds that it is appropriate to direct NS Power to implement a load carrying capability adjustment in this proceeding. Unlike the evidence relating to the use of th...

AI summary The Board directs NS Power to implement a 0.4 kW/customer load-carrying capability adjustment, rejecting Excel Energy's 1.5 kW figure as inappropriate. The adjustment must be addressed now, not deferred, and NS Power must conduct further analysis before customer engagement. The decision emphasizes independent evaluation of load-carrying capability, separate from rate impacts.

3.8.5 Other Cost-of-Service Issues Raised by Synapse [628] As noted already in this decision, in addition to her concerns about the use of the minimum system method to classify distribution system costs, Ms. Palmer had concerns about certa...

AI summary Ms. Palmer raised concerns about NS Power's proposed changes to cost-of-service methodologies, including classifying generation and transmission costs using new approaches and using granular allocators. She recommended a future proceeding to examine these changes. NS Power clarified that the settlement agreement limits the future proceeding to the minimum system method issue.

3.8.5.1 Findings [631] It is clear that Ms. Palmer has some misgivings about other aspects of NS Power's cost-of-service methods, but in light of the settlement agreement, she elected to focus on the minimum system vs. basic customer issue...

AI summary The Board acknowledges a settlement agreement but emphasizes it does not determine public interest in accepting it. Ms. Palmer focused on minimum system vs. basic customer issues, while the Board directs NS Power to address her concerns in a future application. Synapse is encouraged to raise cost-of-service issues for Board consideration.

3.10.1.1 Findings [668] As noted above, OATT rates have been updated to reflect changes in the generation and transmission asset mix and costs, and changes in system usage since the last update in the 2023-2024 GRA. NS Power also amended t...

AI summary NS Power updated OATT rates to reflect changes in generation and transmission assets, costs, and system usage since the 2023-2024 GRA. Amendments were made based on consultation in the 2024 Cost of Service proceeding and addressed the Board's directives from M10431. The Board approved the proposed OATT amendments.

tter alignment with other jurisdictions and allow for simplification of the COS treatment of these costs. This is also described in more detail within the Elenchus Report. [M12521, Exhibit N-1, p. 5] [690] The proposed BA methodology will...

AI summary The proposed BA methodology includes BA1 (annual volume variance adjustment) and BA2 (DSM term adjustment) to reconcile revenue and spending variances. BA1 applies a two-year lag, while BA2 calculates discrepancies over DSM terms and spreads adjustments over four years. NS Power's framework aims to align with other jurisdictions and simplify COS treatment, as detailed in the Elenchus Report.

4.4.1 Findings [720] NS Power's firm capacity requirements in advance of 2030 continue to be the subject of review in several matters considered by the Board, including the Evergreen IRP Action Plan and Roadmap Update, the 10-Year System O...

AI summary The Board approves OM&G costs for Lingan 2 and Trenton 5 to ensure reliable service and NERC/NPCC compliance. NS Power's capacity requirements are under review in multiple proceedings, excluding Lingan 2's sustaining capital costs, which will be addressed in another matter (M12619). Key documents include the Evergreen IRP Action Plan and 10-Year System Outlook Report.

5.0 SUMMARY OF MAJOR FINDINGS AND DIRECTIVES [733] The Board approves most components of the settlement agreement, subject to its findings below that amend the application. The following are approved:

AI summary The Board approves most components of the settlement agreement but requires amendments based on its findings. Key focus is on approving the agreement while modifying the application to align with regulatory requirements.

[741] An Order will issue following the compliance filing. DATED at Halifax, Nova Scotia, this 25th day of March 2026. Stephen T. McGrath ______________________________ ______________________________ ______________________________ Roland A...

AI summary An order will be issued following a compliance filing, dated March 25, 2026, in Halifax, Nova Scotia. The document includes signatures from Stephen T. McGrath, Roland A. Deveau, and Steven M. Murphy, indicating their involvement in the regulatory proceeding.

The Board orders that: - 1. The public hearing for this matter will start on Wednesday, January 7, 2026, at 9:00 am, at the Offices of the Board, Summit Place, 3rd Floor, 1601 Lower Water Street, Halifax, Nova Scotia, and continue until Fr...

AI summary The Board has set the dates and procedures for a public hearing related to a regulatory proceeding, including the timeline for filing documents, submitting interventions, and advertising the hearing in local media and online.

r Street Halifax, Nova Scotia Depending on the circumstances, this public hearing may be held by video conference. Board Hearings are open to the public and you may participate as follows: - You may listen to the live hearing by visiting t...

AI summary The document outlines procedures for participating in a public hearing related to NS Power's application. It provides details on how individuals can listen to the hearing, speak, submit written comments, or request formal standing as an intervenor. A deadline for submitting requests and evidence is also specified.

NOVA SCOTIA INDEPENDENT ENERGY SYSTEM OPERATOR ("IESO Nova Scotia") TAKE NOTICE that IESO Nova Scotia requests to intervene in the above-noted matter. Pursuant to the More Access to Energy Act, SNS 2024, c. 2, Sch. B, IESO NS is statutoril...

AI summary IESO Nova Scotia seeks to intervene in a regulatory proceeding, citing its statutory mandate under the More Access to Energy Act to administer Nova Scotia's bulk power system and wholesale markets. It requests all notices and information be directed to its counsel, Jason T. Cooke, K.C. and Danielle J. Keating of Burchell Wickwire Bryson LLP.

Girish Patel Engineer Nova Scotia Department of Energy 1690 Hollis Street PO Box 7 Halifax NS B3J 3J9 [email protected] All of which is respectfully submitted at Halifax, Nova Scotia this 15 th day of October, 2025 . Daniel Boyle...

AI summary Girish Patel, an engineer at the Nova Scotia Department of Energy, submits a document dated October 15, 2025, on behalf of the department to the Nova Scotia Energy Board. The submission is addressed to Crystal Henwood, Clerk of the Energy Board, and includes contact details and formal procedural language.

NOVA SCOTIA ENERGY BOARD IN THE MATTER OF: The Public Utilities Act – and – IN THE MATTER OF: An Application by Nova Scotia Power Incorporated for approval of certain revisions to its Rates, Charges and Regulations

AI summary The Nova Scotia Energy Board is handling a proceeding under the Public Utilities Act regarding Nova Scotia Power Incorporated's application for revisions to its rates, charges, and regulations. The application seeks approval for changes to its utility pricing structure.

NOTICE OF INTERVENTION TO: The Nova Scotia Energy Board ("Board") AND TO: Nova Scotia Power Inc. ("NS Power") - 1. PORT HAWKESBURY PAPER LP ("PHP") conducts its business in Nova Scotia, and is engaged in the manufacture of paper at its Por...

AI summary Port Hawkesbury Paper LP (PHP) requests intervenor status in a Nova Scotia Energy Board proceeding involving Nova Scotia Power Inc. (NS Power), citing its significant power purchases under the ELIADC Tariff. PHP provides contact details for its legal counsel.

M12451 – Nova Scotia Power Incorporated – 2026 General Rate Application (GRA) On September 25, 2025, the Board issued a Hearing Order, Notice of Hearing and Draft Issues List for NS Power's application to set rates for 2026 and 2027. Follo...

AI summary The Board issued a Hearing Order for NS Power's 2026 GRA, with comments on the Draft Issues List due by October 15, 2025. NS Power, the only party to file detailed comments, argued most issues were resolved or unnecessary. The Board disagreed, noting unresolved matters. NS Power emphasized collaboration with customer representatives, who supported the GRA outcomes.

y record. This record should clearly demonstrate to the Board that issues have been fully and appropriately addressed and satisfy the public that the application has been fully and carefully reviewed. As usual, Board staff and Board Counse...

AI summary NSP outlines the purpose of the issues list in its October 2025 submissions, emphasizing its role in identifying unresolved issues requiring evidence for the January 2026 public hearing. The NSUARB notes that standard review processes, including consultant engagement, cannot be eliminated despite NSP's collaborative agreement with customer representatives.

No Proposed Changes NS Power notes it is not proposing changes to its capital structure and financing costs (including its rate of return on equity); the design of its rates, riders, or credits (other than the DSM Rider and the added symme...

AI summary NS Power states it is not proposing changes to its capital structure, rate design, accounting policies, or certain regulatory rules. It emphasizes that this does not prevent other parties from challenging these areas. NS Power also notes no current income tax issues but acknowledges their relevance to revenue requirements. The document highlights ongoing regulatory considerations around rate-of-return, AMI opt-out fees, and Storm Rider components.

Addressed in Another Proceeding NS Power submitted several of the issues identified on the Draft Issues List were or will be addressed in other proceedings. 1. NS Power has specifically asked the Board for approval in this proceeding to ex...

AI summary NS Power requested to extend the Storm Cost Recovery Rider beyond its three-year term and make it symmetrical, but the Board found this position unreasonable. The Board emphasized that the GRA was the appropriate venue for amendments to the rider, not annual filings. Intervenors and others may still address the issue despite NS Power's stance.

IN THE MATTER OF THE PUBLIC UTILITIES ACT - and - IN THE MATTER OF A GENERAL RATE APPLICATION by NOVA SCOTIA POWER INCORPORATED for Approval of Certain Revisions to its Rates, Charges and Regulations

AI summary Nova Scotia Power Incorporated has submitted a general rate application seeking approval for revisions to its rates, charges, and regulations under the Public Utilities Act. The proceeding involves regulatory review of proposed changes to utility pricing structures.

The Board orders that: - 1. The public hearing for this matter will start on Wednesday, January 7, 2026, at 9:00 am , at the Offices of the Board, Summit Place, 3rd Floor, 1601 Lower Water Street, Halifax, Nova Scotia , and continue until...

AI summary The Board sets a public hearing for a regulatory proceeding from January 7–16, 2026, in Halifax, Nova Scotia, with an evening session contingent on speaker registrations by November 27, 2026. Key deadlines include filing notices of intervention, information requests to NS Power, and submitting evidence. The hearing notice will be published in specified newspapers and online, with the Board's Regulatory Rules governing the process.

rvice Study. - 10.Continuation of the Storm Cost Recovery Rider pilot in 2026 and 2027, but on a symmetrical basis so that unspent forecast Level 3 and 4 storm costs are refunded to customers. - 11.Changes to the Miscellaneous Charges set...

AI summary NS Power proposes continuing the Storm Cost Recovery Rider pilot in 2026-2027 with symmetrical refunds for unspent storm costs, revising Miscellaneous Charges including an AMI Opt-out Fee, and maintaining a 2% annual Pole Attachment Fee increase. A public hearing is scheduled for January 2026 at the Office of the Board in Halifax.

NOVA SCOTIA ENERGY BOARD IN THE MATTER OF: THE PUBLIC UTILITIES ACT - and - IN THE MATTER OF: A GENERAL RATE APPLICATION by NOVA SCOTIA POWER INCORPORATED for approval of certain revisions to its Rates, Charges and Regulations INFORMATION...

AI summary The Nova Scotia Energy Board is processing a general rate application by Nova Scotia Power Inc. under the Public Utilities Act. An information request, due November 5, 2025, was sent to Blake Williams of Nova Scotia Power, with responses to be provided to Emrydia Consulting Corporation. Depreciation-related inquiries are directed to Gannett Fleming.

Request IR-14: - Please provide a copy of the most recently filed and most recently prepared integrated resource - plan, or equivalent analysis.

AI summary Request IR-14 seeks the most recently filed and prepared integrated resource plan or equivalent analysis. The proceeding involves ELG, which is requesting documentation related to resource planning.

Request IR-19: - Regarding the use of the ELG procedure, please confirm whether NS Power has always applied - the ELG procedure or if the procedure was adopted at some specified time.

AI summary Request IR-19 seeks clarification on whether NS Power has consistently used the ELG procedure or if its adoption occurred at a specific time, focusing on procedural timeline and application history.

Request IR-23: - The following request is directed at NS Power. Please provide all internal management analysis - and study of the expected useful lives and salvage costs of each asset and a full description of - the factors influencing th...

AI summary Request IR-23 seeks internal analysis from NS Power on asset useful lives, salvage costs, and retirement factors. ELG (Equal Life Group) is referenced as an acronym. The proceeding involves regulatory oversight of utility asset management practices.

Request IR-29: - For the general property accounts proposed to be moved to amortization accounting, please - revise the calculation of the reserve imbalance amortization from a five-year period to one that - reflects the expected remaining...

AI summary The request asks to revise the amortization period for reserve imbalances from five years to match the remaining life of each account, with calculations for 5, 10, and 20-year periods compared to the Gannett Fleming report's Section V, and impact on 2026-2027 depreciation rates.

References: (A) On page 45 (footnote 44) of Appendix 10-A, Concentric refers to the following source for the "forecast" data for "Long-Term Forecast for 10-Year Government Bond Yields" for Government of Canada bonds that is used to prepare...

AI summary Concentric references Consensus Economics Inc.'s forecast data for Canadian government bond yields and confirms details about the OEB's deemed long-term debt rate. It states that actual rates have exceeded the OEB's deemed rate by 40 basis points since 2010, aligning with Dr. Cleary's findings. The OEB proceeding EB-2024-0063 is cited.

INFORMATION REQUESTS To: Blake Williams Senior Director, Regulatory Affairs Nova Scotia Power Inc. By email: [[email protected]](mailto:[email protected]) From: Board Counsel Consultant – Morrison Park Advisors Responses Du...

AI summary An information request from Morrison Park Advisors to Nova Scotia Power Inc. regarding regulatory matters, with responses due November 5, 2025. The request references a partially confidential document (2026-2027 GRA CS-01-CS-03 Attachment 1). Contact details for Blake Williams (Nova Scotia Power) and Pelino Colaiacovo (Morrison Park Advisors) are provided, along with the issuing clerk, Crystal Henwood.

Question: Please provide a copy of this credit agreement.

AI summary The document contains a request for a copy of a credit agreement, likely within the context of a Nova Scotia regulatory proceeding. No specific entities, arguments, or cross-references are explicitly mentioned beyond the request itself.

NOVA SCOTIA ENERGY BOARD IN THE MATTER OF: THE PUBLIC UTILITIES ACT - and - IN THE MATTER OF: A GENERAL RATE APPLICATION by NOVA SCOTIA POWER INCORPORATED for approval of certain revisions to its Rates, Charges and Regulations INFORMATION...

AI summary The Nova Scotia Energy Board is handling a regulatory proceeding under the Public Utilities Act, involving Nova Scotia Power's request to revise its rates. Doane Grant Thornton LLP has issued information requests to Nova Scotia Power Inc., with responses due by November 5, 2025. Angie Brown of Doane Grant Thornton is the contact person.

Request IR-1: - Reference: N-3 page 36 - In reference to figure 7-1 in direct evidence N-3, page 36, please provide a schedule of total - OM&G by nature for 2024 actual, 2025 forecast and 2026 and 2027 proposed for the entire - Company (no...

AI summary Request IR-1 seeks a schedule of total OM&G (Operations, Maintenance, and General) expenses by nature for 2024 actual, 2025 forecast, and 2026–2027 proposed figures, reconciling to figure 7-1 in direct evidence N-3, page 36. The request applies to the entire company, not by division or function.

Request IR-7: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 5-6 of 58 - Per N-6, (Appendix 7C), page 5-6 of 58, we understand that 2026 forecast is higher than 2024 - actual results for "General Counsel, Corporate Secreta...

AI summary The request seeks a breakdown of litigation costs under 'General Counsel, Corporate Secretary, and Insurance' attributed to ongoing CRA litigation, noting that the 2026 forecast exceeds 2024 actuals.

Request IR-68: - Reference: N-11 C ii - With regards to the regulatory amortizations outlined in Exhibit N-11( C )-(ii) (2026-2027 GRA - DA-03 Att 1 Excel Confidential) which includes Non-standard meters, SmartGrid NS, - Annapolis Tidal Re...

AI summary Request IR-68 seeks background calculations for regulatory amortizations in Exhibit N-11(C)-(ii), including Non-standard meters, SmartGrid NS, Annapolis Tidal Retired Assets, Hurricane Fiona GRA Deferral, Deferred Decarbonization Asset, and Roseway Decommissioning, covering 2024A-2027F.

INFORMATION REQUESTS To: NS Power Mike Willett Director, Regulatory Finance From: Port Hawkesbury Paper LP ("PHP") Responses Due: November 5, 2025 Contact Person: David MacDougall McInnes Cooper P.O. Box 730 Purdy's Wharf Tower II 1300 – 1...

AI summary Port Hawkesbury Paper LP (PHP) submits an information request to NS Power, seeking responses by November 5, 2025. Contact details for PHP's legal counsel, McInnes Cooper, and NS Power's Director of Regulatory Finance, Mike Willett, are provided.

Questions: a) Please confirm that, while the new above-the-line (ATL) Tariff for PHP to be brought forward for approval by the Board later this year shall reflect the modeling noted above, it remains open to all Parties, including PHP, to...

AI summary The Board seeks confirmation that PHP may adopt any position in the ADC and tariff processes despite the new ATL Tariff's modeling basis, and that PHP is not obligated to accept the new ATL Tariff if the ADC and tariff outcomes are unsatisfactory post-Board decision.

INFORMATION REQUESTS To: Blake Williams Senior Director, Regulatory Affairs Nova Scotia Power Inc. By email: [email protected] From: Board Staff Nova Scotia Energy Board Responses Due: Wednesday, November 5, 2025 Copies: 1 electron...

AI summary The Nova Scotia Energy Board has issued an information request to Blake Williams of Nova Scotia Power Inc., seeking responses by November 5, 2025. The request includes contact details for Steve Pronko and is signed by Clerk of the Board Crystal Henwood. The document outlines procedural details for the regulatory proceeding.

Request IR-1: Please file a copy of the consensus agreement reached with customer representatives.

AI summary The document requests the filing of a consensus agreement reached with customer representatives as part of a regulatory proceeding. The agreement is described as a formalized understanding between parties involved in the proceeding, though no specific terms or outcomes are detailed in the provided text.

FUEL AND PURCHASED POWER / FAM

AI summary The document section 'FUEL AND PURCHASED POWER / FAM' is part of a Nova Scotia regulatory proceeding. It involves entities such as Nova Scotia Power Inc. (NS Power) and programs like Renewable to Retail (RTR), though no specific arguments or details are provided in the text.

Request IR-29: - Reference: Exhibit N-5, Appendix 5B, Fuel Hedging Plan - a) What is the base document from which the tracked changes in Appendix 5B have been made? - b) Is there any reason why some of the tracked changes in Appendix 5B ar...

AI summary Request IR-29 seeks clarification on the base document for changes in Appendix 5B of Exhibit N-5 and the rationale for blue and red color coding in tracked changes related to the Fuel Hedging Plan.

Request IR-72: - Reference: Exhibit N-14, OP-03, Attachment 1, ScottMadden Report, p. 12 of 87, Peer Group Selection - a) Is the entire universe of regulated US electric operating companies limited to 149 companies? If not, how was the sta...

AI summary The document contains a series of questions from a regulatory proceeding concerning the methodology used to select peer groups for US and Canadian utilities. It asks about the universe of regulated US utilities, exclusions during screening, the inclusion of smaller utilities, the use of NERC regions, and the selection criteria for Canadian utilities.

Request IR-89: - Reference: Exhibit N-3 GRA Direct Evidence, Section 9.2.1 Average Capital Assets - On pages 52-53 of its application, NS Power notes that it has removed approximately $700 million - from its rate base for the DDA assets (P...

AI summary NS Power removed $700 million from its rate base for DDA assets, citing securitization by 2026, and seeks to defer depreciation and return if delayed. Requests include documentation on securitization timelines, deferral costs, debt issuance breakdowns, and updates on retired assets, customer deposits, and unapproved capital items. The proceeding involves GRA, FAM, and RTR programs.

Request IR-101: - Reference: Exhibit N-3 GRA Direct Evidence, Section 10 Capital Structure and Financing - With respect to the rate of return earned: - a) Please identify the actual rate of return that has been earned in each of the past 1...

AI summary Request IR-101 seeks data on Nova Scotia Power Inc.'s rate of return (ROE) over the past decade, including actual rates, allowed ROE ranges, years where ROE fell below minimum thresholds, and the role of reduced tax expenses from amended filings in those years. The request references Exhibit N-3 of the GRA Direct Evidence.

Request IR-121: - Reference: Exhibit N-8, Appendix 10A, CEA-5 Multi-Stage DCF - CEA-5 Multi-Stage DCF, column [9] uses a GDP Growth (perpetuity) from Consensus Economics - Consensus Forecast October 7, 2024, for 2030-2034 = (GSP x (1+ CPI)...

AI summary The document questions the scope of GDP and CPI estimates in the CEA-5 Multi-Stage DCF model, specifically whether Canada Proxy Group data applies to Canada, Nova Scotia, or the U.S., and why the Bank of Canada's inflation target midpoint is not used. It also references Proxy Group formulas for Canada and the U.S.

COST OF SERVICE

AI summary The document pertains to a regulatory proceeding analyzing the cost of service for Nova Scotia Power Inc. (NSP), involving entities, programs, and mechanisms such as the Fuel Adjustment Mechanism (FAM) and Renewable to Retail (RTR). Key stakeholders include NSP, the Canada Revenue Agency (CRA), and regulatory bodies like NERC.

Advanced Meter Infrastructure (AMI) Opt-Out Fee

AI summary The document discusses NS Power's proposal for an Advanced Meter Infrastructure (AMI) Opt-Out Fee, which has been objected to by the Office of the Atlantic Advocate for Transmission and Trade (OATT). The proceeding seeks a hearing on the matter, focusing on the justification and structure of the fee.

Request IR-20: - 2026-2027 GRA Appendix 1-6 PCON, Appendix 5B. - Please explain the addition of xxxxxxxxxxx to page 9.

AI summary Request IR-20 seeks clarification on the addition of unspecified content to page 9 of the 2026-2027 GRA Appendices 1-6 PCON and 5B. The proceeding involves Nova Scotia Power Inc. (NSP/NSPI) and related acronyms.

\ \ EXTERNAL EMAIL / COURRIEL EXTERNE \ \ Exercise caution when opening attachments or clicking on links / Faites preuve de prudence si vous ouvrez une pièce jointe ou cliquez sur un lien Dear Ms. Henwood, The Board has finalized the issue...

AI summary The Board extended the deadline for Notices of Intervention to October 30, 2025, while maintaining the October 22, 2025 deadline for Information Requests to NS Power. Renewall Energy Inc. filed its Notice of Intervention on October 15, 2025, but seeks a one-week extension to October 28, 2025, citing resource constraints and ongoing corporate priorities. They also note potential reductions in questions to NS Power based on other filings.

November 4, 2025 By Email Dear Parties: M12451 – Nova Scotia Power Inc. – 2026 General Rate Application (GRA) Based on experience with the hearing for NS Power's General Rate Application in 2022, when the hearing room was busy for the firs...

AI summary The Board outlines logistical arrangements for the hearing of Nova Scotia Power Inc.'s 2026 General Rate Application (M12451), scheduled for January 7, 2025. Due to capacity constraints, seating in Hearing Rooms A & B is limited to 31 participants and 6 public/media members, with overflow accommodated via a meeting room and library monitors. NS Power staff not in the hearing room will use an adjacent meeting room.

December 1, 2025 All Parties M12451 M12451 - Nova Scotia Power Inc. - 2026 General Rate Application (GRA) The Board is finalizing the logistics for the upcoming hearing set to begin on January 7th, 2026. The hearing will be set up to inclu...

AI summary The Board is finalizing logistics for the January 7, 2026 hearing for Nova Scotia Power Inc.'s 2026 General Rate Application (GRA). Virtual participation for out-of-province expert witnesses is allowed, with deadlines for witness panel filings and attendance mode declarations. The evening session was cancelled due to no speaking requests. The panel includes Stephen T. McGrath, Roland A. Deveau, and Steven M. Murphy.

December 5, 2025 Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor Halifax, NS B3J 3S3 Re: M12451 - Nova Scotia Power Inc. - 2026 General Rate Application (GRA) – Witnesses Appearing Virtually D...

AI summary Nova Scotia Power Inc. (NS Power) requests that John Wiedmayer of Gannett Flemming Valuation and Rate Consultants participate virtually as a witness in the 2026 General Rate Application (GRA) proceeding. All other witnesses are able to attend in person. The request is addressed to the Nova Scotia Energy Board.

December 5, 2025 VIA FILE TRANSFER Ms. Crystal Henwood Clerk of the Board Nova Scotia Utility and Review Board 1601 Lower Water Street, 3rd Floor Halifax, NS B3J 3S3 Dear Ms. Henwood: Re: M12451 - Nova Scotia Power Inc. - 2026 General Rate...

AI summary On December 5, 2025, Nova Scotia Power Inc. submitted a 2026 General Rate Application (GRA) to the Nova Scotia Utility and Review Board. Board Counsel witness Dustin Madsen will appear in-person, while others request virtual appearances. The application involves rate-setting proceedings.

December 9, 2025 Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor Halifax, NS B3J 3S3 Re: M12451 - Nova Scotia Power Inc. - 2026 General Rate Application (GRA) - Witness Panels Dear Ms. Henwood...

AI summary Nova Scotia Power Inc. submits witness panels for the 2026 General Rate Application Hearing (M12451) before the Nova Scotia Energy Board. The letter is addressed to Clerk Crystal Henwood, outlining procedural steps for the rate application process.

Panel #4 – General and other Regulatory Matters - Craig Flemming - Blake Williams - Michael Willett - Jonathan MacIntosh - Dragan Pecurica, Director, Energy and Risk Management, NS Power By way of this letter, NS Power is seeking to confir...

AI summary NS Power proposes that Board Counsel present evidence immediately after NS Power's panels to improve efficiency, ensure clarity, and reduce costs by limiting expert availability. This request is made by Jennifer Power, Senior Counsel, Regulatory.

December 10, 2025 [[email protected]](mailto:[email protected]) Jennifer Power Senior Counsel, Regulatory Nova Scotia Power Inc. PO Box 910 Halifax, NS B3J 2W5 Dear Ms. Power: M12451 - Nova Scotia Power Inc. - 2026 General...

AI summary Nova Scotia Power Inc. (NS Power) submitted a letter regarding its 2026 General Rate Application (GRA) under matter M12451. The Board acknowledges receipt and confirms NS Power will present its case first, following standard procedural rules. The letter is addressed to Jennifer Power, Senior Counsel for NS Power, and signed by Crystal Henwood, Clerk of the Board.

December 11, 2025 Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor Halifax, NS B3J 3S3 Re: M12451 2026-2027 General Rate Application - Hearing Logistics Dear Ms. Henwood: Nova Scotia Power ("NS...

AI summary Nova Scotia Power (NS Power) requests confirmation of its approach to presenting expert evidence at the 2026-2027 General Rate Application (GRA) hearing. NS Power proposes allowing experts to orally respond to Board Counsel's consultants' evidence, citing the Amended Hearing Order and the Settlement Agreement. This method aims to ensure a complete record efficiently, referencing precedent from the 2023-2024 GRA.

uch an approach, while a departure from typical Board process, is not without precedent and was used in the hearing of the 2023-2024 GRA when Mr. William Marshall provided December 11, 2025 C. Henwood out of process written rebuttal eviden...

AI summary NS Power requests the Board's approval to allow experts to provide oral responses to Board Counsel's evidence during testimony, citing precedent from the 2023-2024 GRA. The approach is argued to be non-prejudicial due to a Settlement Agreement with customer representatives and prior use of similar procedures.

December 12, 2025 [[email protected]](mailto:[email protected]) Jennifer Power Senior Counsel, Regulatory Nova Scotia Power Inc. PO Box 910 Halifax, NS B3J 2W5 Dear Ms. Power: M12451 - 2026-2027 General Rate Application - H...

AI summary Nova Scotia Power Inc. (NS Power) submitted a general rate application for 2026-2027, prompting a regulatory hearing. The Board deemed NS Power's initial request for expedited processing unreasonable, adjusted procedural timelines, and limited NS Power's ability to make information requests unless seeking leave. The proceeding addresses rate-setting logistics and evidentiary standards.

counsel consultants who filed evidence and file rebuttal evidence. However, it was open to NS Power to seek leave to make information requests or file rebuttal evidence if it felt that was necessary. Several Board counsel consultants filed...

AI summary Nova Scotia Power Inc. (NSP) sought to present rebuttal evidence orally after missing the deadline for pre-filing, contrary to the Hearing Order. The Board rejected this approach, arguing it is inefficient and unfair, emphasizing that pre-filing rebuttal evidence is standard practice. The Board also noted that NSP's proposal would hinder cross-examination and referenced a prior situation involving Mr. Marshall that it aims to avoid.

those experts is unreasonable. The Board does not agree that the circumstances relating to Mr. Marshall are analogous; however, that situation was not ideal and the Board does not intend to repeat it. NS Power's request is denied. If NS Po...

AI summary The Board denies NS Power's request, requiring rebuttal evidence submission via leave application by December 15, 2025. Failure to comply will result in standard cross-examination procedures. The Board acknowledges past procedural issues but emphasizes adherence to current requirements. The proceeding is referenced as M12451.

From: [Henwood, Crystal D](mailto:[email protected]) To: [Alissa Whalen](mailto:[email protected]); [Allison Coffin](mailto:[email protected]); [Amanda N. George](mailto:[email protected]); [Andrew McLaren](mailto...

AI summary Crystal Henwood from Nova Scotia Power Inc. requests objections to Dustin Madsen's virtual testimony at the 2026 General Rate Application (GRA) hearing for Nova Scotia Power Inc. Objections must be submitted by December 24, 2025. The email also references secure file submission requirements effective November 3, 2025.

CRYSTAL HENWOOD Pronouns: She/Her Clerk of the Board Nova Scotia Energy Board T 902 424 1332 TF 1 833 809 0040

AI summary The document provides contact information for Crystal Henwood, Clerk of the Board at the Nova Scotia Energy Board. No substantive content related to the regulatory proceeding is present in the provided text.

Please refer to: David Roberts Email: [[email protected]](mailto:[email protected]) Assistant: Alissa Whalen Assistant's email: [[email protected]](mailto:[email protected]) January 5, 2026 Via Email: crystal.henwood@...

AI summary The Consumer Advocate, David Roberts, informs the Nova Scotia Energy Board that they will not make an opening statement in the proceeding related to Nova Scotia Power Inc.'s 2026 General Rate Application (GRA). The matter is referenced as M12451.

January 6, 2026 VIA FILE TRANSFER Ms. Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor Halifax, NS B3J 3S3 Dear Ms. Henwood: Re: M12451 - Nova Scotia Power Inc. - 2026 General Rate Application...

AI summary The document outlines the order of consultant witnesses for Nova Scotia Power Inc.'s 2026 General Rate Application (GRA) proceeding. The Nova Scotia Energy Board is notified of the witness list, including firms like Emrydia Consulting and Synapse, with the matter number M12451 referenced.

From: [Sofia Reiner](mailto:[email protected]) To: [Henwood, Crystal D](mailto:[email protected]) Cc: [Abraham, Christopher](mailto:[email protected]); [Allison Coffin](mailto:[email protected]);...

AI summary An email exchange between Sofia Reiner of Nova Scotia Power and Crystal Henwood of the Nova Scotia government, with CCs to stakeholders including law firms, energy companies, and consultants, indicating communication related to a regulatory proceeding.

lissa Davies](mailto:[email protected]); [Melissa Whited](mailto:[email protected]); [Melissa Whitten](mailto:[email protected]); [Michael Murphy;](mailto:[email protected]) [[email protected]](mailto:mmac...

AI summary The text lists email addresses of individuals and organizations involved in a Nova Scotia regulatory proceeding, primarily affiliated with Nova Scotia Power, government agencies, and consulting firms. No substantive content or arguments are present in the provided text.

phen MacDonald](mailto:[email protected]); [Susan Leblanc;](mailto:[email protected]) [Taylor Montgomery](mailto:[email protected]); [Too, Erick](mailto:[email protected]); [Twila Gaudet](mailto:tgaudet@mikmaqri...

AI summary NS Power has submitted documents (U-02, U-03, U-05, U-06) related to the 2026-2027 GRA Undertakings in regulatory proceeding M12451. The filings include Excel attachments and are part of the Nova Scotia Utility and Review Board process.

Background REI is an intervenor in M12451, however, due to confidentiality restrictions did not receive a full copy of the COSS outputs for 2026 and 2027 until after the GRA Hearing1 . REI believes that if information was available earlier...

AI summary REI, an intervenor in M12451, highlights delays in accessing 2026/2027 COSS data, which hindered early resolution of issues in the GRA process. Concerns include inconsistent application of demand cost allocation and causation by rate class in the OATT, with calls for accuracy in Standby and Demand Tariffs. REI references section 6(2) of the Energy and Regulatory Board Act, emphasizing competition and innovation in rate design.

iled the GRA should not 19 in any way reduce the weight it should be accorded in this proceeding. All of the processes that 20 ensure the careful study of rate proposals were present in this case. 21 22 After they received the draft GRA in...

AI summary The GRA was thoroughly reviewed by Customer Representatives, the Board, and consultants, leading to a rigorous process that resulted in a Settlement Agreement. The GRA's weight was not reduced, as all processes ensuring careful study were present.

hat could reasonably be expected to re-occur on a frequent basis. It is also important to note, as Mr. Willett and Mr. Williams both stated, the overall review was driven by a focus on cost causation: "And maybe I'll just step back for one...

AI summary The text emphasizes the importance of cost causation in the COSS, with Mr. Willett and Mr. Williams highlighting its central role in cost allocation. PHP argues the Board should approve the COSS as agreed by all parties, avoiding reopening issues in the next GRA. The Consensus Agreement is presented as a principled resolution to complex, inter-related COSS issues.

BEFORE THE NOVA SCOTIA ENERGY BOARD IN THE MATTER OF The Public Utilities Act, R.S.N.S. 1989, c.380, as amended -and - IN THE MATTER OF A General Rate Application by Nova Scotia Power Incorporated for approval of certain revisions to its R...

AI summary The Nova Scotia Energy Board is considering Nova Scotia Power Incorporated's general rate application (M12451) for 2026-2027 revisions to rates, charges, and regulations. The Department of Energy, Government of Nova Scotia, submitted closing arguments under the Public Utilities Act, R.S.N.S. 1989, c.380.

- 6. Power outages have a significant impact on individuals and businesses, including economic costs and disruption to essential services. The evidence demonstrates that NS Power's reliability metrics, including outage frequency and durati...

AI summary The Department criticizes NS Power's inadequate reliability metrics, prioritization of dividends over infrastructure investments, and poorly timed rate increase application amid a cybersecurity breach impacting customers. It argues NS Power must demonstrate improved performance before rate increases and highlights procedural concerns about pre-filing stakeholder discussions.

;sup>21 Transcript, page 1267. & lt;sup>23 Transcript, pages 1306-1306. & lt;sup>24 Transcript, page 1288. See: 2026-2028 Manitoba Hydro General Rate Application, Intervenor evidence accessible at: https://www.pubmanitoba.ca/v1/proceedings...

AI summary The document argues against modifying individual components of an agreement, citing asymmetrical review risks and compromised party agreements. It references rate impacts: residential rates would decrease 1.6% in 2026, while General, Large General, and Medium Industrial classes would increase ~3.5% under proposed changes. Cross-references include Manitoba Hydro's GRA and NARUC's cost allocation manual.

1) The PHP Tariff Application Differs from the Settled Terms The wording in the Consensus Agreement in relation to "PHP Treatment" is the lengthiest section and was intentionally drafted. At the time of the negotiation and the filed GRA, t...

AI summary The PHP Tariff Application deviates from settled terms, as the Consensus Agreement's 'PHP Treatment' section was intentionally drafted without a successor rate. NSPI's applied COS model incorporates fuel cost savings and fixed costs but omits quantifying 'active demand control' (ADC), which was intended for negotiation. Clause (f) allows parties to challenge the tariff's alignment with load characteristics, while clause (g) permits NSPI to request a deferral account due to assuming PHP would be ATL in 2026.

2) Securitization Deferral Account In its December 22, 2025 correspondence, NSPI proposed establishing a securitization deferral account effective January 1, 2026. This proposal was not part of the Consensus Agreement. NSPI testified that...

AI summary NSPI proposed a securitization deferral account effective January 1, 2026, outside the Consensus Agreement. It depends on regulatory approval, with timelines uncertain due to political factors. The Industrial Group supports a prospective deferral account tied to new rates, avoiding retroactive creation and double recovery of embedded costs.

16 MINIMUM SYSTEM METHOD v. BASIC CUSTOMER METHOD - 17 One of the terms of the Settlement Agreement was with respect to the Cost-of-Service (COS) - 18 methodology, namely the use of the Minimum System Method for the duration of the test pe...

AI summary The document discusses the use of the Minimum System Method versus the Basic Customer Method under a Settlement Agreement. Expert evidence from Caroline Palmer recommends continuing the Minimum System Method until a separate application determines an alternative methodology. The SBA supports this, citing impacts on domestic rate classes and the need for thorough analysis.

ciation expense and financing costs of the unrecovered net book value of the DDA be 14 M12451, Evidence of NSPI, Transcripts January 7, 2026 - Page 213, at lines and Page 214, at lines 1-2. - appropriate, that it should be effective no ear...

AI summary The Small Business Advocate (SBA) submits that the Settlement Agreement is comprehensive, fair, and equitable for Nova Scotia's small businesses, recommending the Application be approved by the Board. The SBA emphasizes the agreement's thorough development with customer representatives and experts. The text references matter M12451 and a submission dated January 30, 2026.

thodology would continue at least through 2026 and 2027, with a full opportunity to argue in favour of its continued use going forward, the MEUs would not have been a party to the Consensus Agreement. As the Board is aware, the MEUs curren...

AI summary The document discusses the controversy over the Minimum System methodology versus the Basic Customer method in utility rate-making, with MEUs and NS Power supporting the former. Synapse favors the Basic Customer method, while the Minimum System is recognized in Canada and approved in Nova Scotia. The MEUs are not parties to the Consensus Agreement, and the Board is aware of their use of the Minimum System.

M12451

AI summary The document pertains to regulatory proceeding M12451 in Nova Scotia, involving Nova Scotia Power Incorporated (NSP) and references to the Revised Statutes of Nova Scotia (R.S.N.S.). Key entities and legal frameworks are noted, though specific arguments or claims are not detailed in the provided text.

elief sought. In these circumstances, the Settlement Agreement, and accordingly the outcomes sought in this GRA, represent a balanced resolution of the issues and support a finding that the proposed outcomes are just, and reasonable. To re...

AI summary NS Power seeks Board approval for a Settlement Agreement, arguing it provides a balanced resolution to regulatory issues. The agreement is framed as just and reasonable, with NS Power requesting an order to formalize the proposed outcomes.

0, paras. 23-24. See Decisions: 2007 NSUARB 8, 2008 NSUARB 140, 2012 NSUARB 9, 2012 NSUARB 227, 2014 NSUARB 144, 2021 NSUARB 80, 2023 NSUARB 12.

AI summary Section 2.0 discusses the Settlement Agreement, referencing prior NSUARB decisions from 2007 to 2023. These decisions likely provide context for regulatory proceedings involving Nova Scotia Power and the NSUARB.

17. Transcript, January 8, 2026, page 359 (PDF page 41), lines 5-16. Transcript, January 8, 2026, pages 358 -359 (PDF page 40-41), lines 19-2.

AI summary The document discusses the rate base impacts of ALG versus ELG in a regulatory proceeding. Key entities include Nova Scotia Power Incorporated (NSP), the Nova Scotia Utility and Review Board (NSUARB), and the Settlement Agreement (GRA). The analysis focuses on regulatory considerations and financial implications.

the revenue that's collected through electricity rates, and that has the potential to create a positive or a negative effect on the deferral depending on the direction of that timing.[58](#page-32-0) For clarity, the PHP Deferral described...

AI summary The document discusses the PHP Deferral under the Settlement Agreement (GRA), which tracks variances from 2026-2027. NS Power seeks to include financing costs at WACC in the deferral, citing section 64AB of the Public Utilities Act. Variances beyond 2027 will be addressed in future proceedings.

3.7.2 Outcome of PHP remaining below-the-line One of the concerns raised during the hearing was the potential impact on the GRA if PHP does not ultimately take service under an above-the-line tariff in 2027, and what alternative arrangemen...

AI summary The document discusses concerns about PHP remaining below-the-line in 2027, potential impacts on the GRA, and NS Power's assurance of alternative tariff arrangements. If PHP avoids the ELIDT, the ELIADC Tariff would serve as a baseline, with projected deferral and fuel balance amounts. The criticality of a deferral mechanism is emphasized due to uncertainty and the Goose Harbour Lake wind project's impact.

Dr. Cleary's evidence is not specific to the business and operational risks of electric utility companies, and in particular vertically-integrated electric utilities such as NS Power, nor does it attempt to understand or consider many of t...

AI summary Dr. Cleary's analysis is criticized for lacking specificity to NS Power's risks, using unreliable data, and misapplying S&P's volatility tables. His models' assumptions are deemed unreasonable, and his incorrect use of the low volatility table could lead to an inaccurate credit rating assessment for NS Power, risking a downgrade.

Nova Scotia Energy Board IN THE MATTER OF The Public Utilities Act, R.S.N.S. 1989, c.380, as amended - and - IN THE MATTER OF an Application by Nova Scotia Power Incorporated for Approval of Certain Revisions to its Rates, Charges, and Reg...

AI summary The Nova Scotia Energy Board is handling a proceeding under the Public Utilities Act, R.S.N.S. 1989, c.380, regarding Nova Scotia Power Incorporated's application to revise its rates, charges, and regulations. The document outlines the legal context and the nature of the regulatory request.

rs" and, similarly, that it is the SBA who is to 1 Nova Scotia Power Inc., Re, 2005 NSUARB 27 at paras 18 and 19. 2 Nova Scotia Power Inc. (Re) 2023 NSUARB 12 at paras 8 and 9.

AI summary The text references past NSUARB decisions regarding Nova Scotia Power Inc., with the Small Business Advocate (SBA) being involved in proceedings. Two specific cases are cited: 2005 NSUARB 27 and 2023 NSUARB 12.

1 3.0 REPLY TO THE CLOSING SUBMISSION OF THE DEPARTMENT OF ENERGY 2 - 3 The Department of Energy's (DOE) characterization of the settlement process as "closed-door" is - 4 surprising and inaccurate. The settlement process, which the DOE su...

AI summary NS Power refutes the DOE's claims that the settlement process was 'closed-door' and the record incomplete, emphasizing full participation by the CA, SBA, and other stakeholders. All required documents were filed, and parties submitted evidence, while the DOE did not participate or file evidence. NS Power highlights the completeness of the regulatory process.

8 NS Power's Response: 9 - 10 1) OATT Calculations - 11 NS Power applied the approved OATT and COS methodologies, as amended in the Settlement - 12 Agreement, to determine the proposed bundled and OATT charges. The transmission costs are -...

AI summary NS Power applied approved OATT and COS methodologies from the Settlement Agreement to calculate bundled and OATT charges. Transmission costs are allocated to bundled rate classes using three winter month peaks (3CP), while open market services use twelve-month peaks (12CP). This approach was accepted in the 2005 OATT proceeding. NS Power clarifies that 3CP and 12CP allocation methods yield consistent results.

13 5.3 Treatment of PHP and the PHP Deferral 14 - 15 The PHP Deferral account is a targeted and necessary mechanism to address potential revenue 16 variances arising from differences between the Board-approved tariff(s) under which PHP wil...

AI summary The PHP Deferral account addresses revenue variances between Board-approved tariffs and GRA COSS assumptions. The CA raises concerns about PHP's status and potential $18M charges to other customers if PHP remains BTL. The IG objects to the deferral capturing unreasonable costs, while NS Power argues it is necessary and does not expand costs.

1 6.0 CONCLUSION 2 - 3 NS Power repeats and relies on the evidence presented in this proceeding in support of the relief - 4 sought in the GRA. The evidentiary record reflects extensive analysis, expert input, and detailed - 5 scrutiny of...

AI summary NS Power reiterates its evidence supporting the General Rate Adjustment (GRA), emphasizing extensive analysis and stakeholder collaboration. The proceeding highlights challenges in balancing cost pressures, reliability, affordability, and energy transition goals. NS Power reaffirms its commitment to transparency and ongoing engagement with the Nova Scotia Utility and Review Board (NSUARB) and stakeholders.

IN THE MATTER OF THE PUBLIC UTILITIES ACT - and - IN THE MATTER OF A GENERAL RATE APPLICATION by NOVA SCOTIA POWER INCORPORATED for approval of certain revisions to its Rates, Charges and Regulations BEFORE: Stephen T. McGrath, K.C., Chair...

AI summary Nova Scotia Power Inc. seeks approval for rate revisions under the Public Utilities Act. The proceeding involves multiple intervenors, including consumer advocates, small business representatives, and industry groups, with legal counsel from various organizations. The board members overseeing the case are Stephen T. McGrath, Roland A. Deveau, and Steven M. Murphy.

NOVA SCOTIA INDEPENDENT ENERGY SYSTEM OPERATOR Jason T. Cooke, K.C Danielle J. Keating

AI summary The Nova Scotia Independent Energy System Operator is involved in a regulatory proceeding. Jason T. Cooke and Danielle J. Keating are named as participants, though no specific claims, topics, or cited references are detailed in the provided text.

PORT HAWKESBURY PAPER LP David MacDougall, Counsel James MacDuff, Counsel Melanie Gillis, Counsel

AI summary The document lists counsel for Port Hawkesbury Paper LP, including David MacDougall, James MacDuff, and Melanie Gillis. No further details about the regulatory proceeding or arguments are provided in the text.

3.2.2 FAM Plan of Administration and Fuel Manual

AI summary This section outlines the Fuel Adjustment Mechanism (FAM) Plan of Administration and Fuel Manual, detailing administrative processes and fuel management frameworks within Nova Scotia's regulatory context. It focuses on mechanisms for adjusting fuel costs and operational parameters in utility regulation.

by such investments by delivering decreased outage frequency and duration, but CSAT is not considered a consistent and repeatable reliability metric for benchmarking. [Exhibit N-27, NSEB IR-12, p. 2] - [86] NS Power's witness panel reitera...

AI summary NS Power argues against using customer satisfaction (CSAT) metrics for reliability benchmarking, citing their subjectivity. Instead, the company relies on objective performance standards aligned with regulatory requirements. This position was reinforced during a hearing, emphasizing the preference for measurable benchmarks over customer feedback in reliability planning.

Further, Sections 40 and 41 of the PUA state:

AI summary The text references Sections 40 and 41 of the Public Utilities Act (PUA), which are relevant to the regulatory proceeding. These sections likely outline legal frameworks or obligations for utilities or regulatory processes in Nova Scotia.

ion rates for the purposes of the current GRA. This can be reconsidered for NS Power's next depreciation study, should the 2025/26 IRP determine that decommissioning of Mersey is the preferred option. [163] The Tusket system has a total ca...

AI summary The Nova Scotia Utility and Review Board (NSUARB) excludes decommissioning costs for Wreck Cove, Mersey, and Tusket hydro systems from current depreciation rates in the General Rate Application (GRA). The Board approves this exclusion for 2026-2027 test years, noting Tusket's small size and potential replacement with renewables. NS Power may revisit the decision in future studies if the 2025/26 Integrated Resource Plan (IRP) favors Mersey decommissioning.

ncies are costs that are expected to be incurred". Based on this statement alone, the Board sees no valid reason why contingency costs should be removed from generation decommissioning cost estimates. [173] In addition, the Board notes tha...

AI summary The Board argues against excluding contingency costs from decommissioning estimates, citing AACE Class 4/5 levels of project definition and Gannett Fleming's inclusion of contingency allowances. The study's methodology aligns with industry standards, and no evidence supports removing these costs from NS Power's decommissioning estimates.

3.4.1.3.3 Adjustments to Estimated Asset Average Service Lives [190] In his evidence, Mr. Madsen proposed a number of changes to Gannett Fleming's recommended estimated asset average service lives. This is discussed in more detail in secti...

AI summary The Board rejects Mr. Madsen's proposed changes to asset service lives but approves specific settlement adjustments for NS Power's Account 353 and 390.10, noting peer data support for slight life extensions. The changes align with the GRA and are deemed appropriate for the current proceeding.

charged in any one period may vary by virtue of the procedure selected, the total amount of depreciation recovered over the full life of the asset will not vary regardless of which procedure is used. [195] Gannett Fleming's depreciation st...

AI summary The text compares ELG and ALG depreciation methods. Gannett Fleming argues ELG better aligns depreciation with asset retirement patterns, while Mr. Madsen supports ALG for its gradual, equitable recovery. Both agree on overall cost recovery parity but differ on method appropriateness amid asset life extensions.

MBER MURPHY: … can you tell me why the ALG procedure doesn't exacerbate the potential errors associated with using simulated age data in the same way that the - that you claim the ELG procedure does? A. (MADSEN) Certainly. So again, if the...

AI summary The discussion focuses on the differences between the Average Life Group (ALG) and Equal Life Group (ELG) depreciation methodologies. ALG uses average annual depreciation, while ELG relies on simulated age data, which may introduce errors if inaccurate. Nova Scotia Power's use of simulated data results in shorter asset lives compared to other utilities, raising questions about methodology validity.

for the Board to decide is whether Mr. Madsen's recommendations are warranted. [246] During the hearing, Mr. Wiedmayer was questioned about the average service life changes recommended by Mr. Madsen: MEMBER MURPHY: This is my last question...

AI summary The proceeding discusses a dispute over asset service life curves for transmission poles and fixtures, with Mr. Madsen recommending a 50-R2.5 curve and Mr. Wiedmayer defending the existing 45-R1.5 curve. Member Murphy questions why the current curve is preferred despite poor data fit after year 30.

for Nova Scotia Power. We're not looking at actual retirement data, which is why I need to assign the weight to the simulated data that I can, and in my opinion, I would not assign significant weight. Now again, if the simulated data was s...

AI summary Mr. Madsen argues that Nova Scotia Power's use of simulated aged data for asset service lives is inconsistent with actual retirement data and significantly lower than peer utilities. He questions assigning significant weight to the simulated data due to discrepancies with peer benchmarks, particularly Atlantic Canadian utilities.

and some of the customer representatives. The settlement agreement contained a clause that the parties were free to take any position they wished during the Board's review of the PHP successor tariff. [342] In his closing submissions, the...

AI summary The document discusses the PHP Deferral account in a Nova Scotia regulatory proceeding. The Consumer Advocate argues that PHP, as an ATL customer, would bear significant costs, while the Industrial Group emphasizes the scope of the PHP Deferral Account. Disagreements exist over tariff structures, with PHP proposing a lower demand level than the GRA's 65 MW forecast. The matter number M12661 is referenced.

Power to determine value of property of utility - 30 (1) The Board may at any time, with the assistance of such engineers, accountants, valuators, counsel and others as it deems wise or advisable to employ, inquire into and determine the e...

AI summary The Energy Board has authority to assess utility property values using prudent original cost minus depreciation, with straight-line depreciation calculation. It mandates valuation of Nova Scotia Power Inc.'s assets by March 31, 2024, and may set differentiated return on equity for capital asset classes to align investment incentives with ratepayer interests.

definite and immediately determinable. The accounting objectives of verifiability and neutrality are also satisfied. [Emphasis added] [ Depreciation Expense: A Primer for Utility Regulators , p. 12] [408] In 2022, the Public Utilities Act...

AI summary In 2022, the Public Utilities Act was amended to direct the Board to assess NS Power's asset values. The NSUARB initiated a 2023 proceeding, hiring EA Technology and Doane Grant Thornton to evaluate asset management and accounting policies. The Department's request to review assets under s. 30(2) would duplicate the ongoing s. 30(5) proceeding.

within the discretion of the Commission, to be exercised consistently with the words of the Electric Utilities Act , having regard to all relevant considerations, while disregarding irrelevant ones. - [61] In conclusion, the decision under...

AI summary The text discusses legal challenges to rate-setting decisions, emphasizing the Commission's discretion under the Electric Utilities Act and the incorrect application of Stores Block in treating destroyed assets. The Alberta Court of Appeal and NSUARB rulings highlight flexibility in asset valuation and rate-base treatment, including recovering net book value of destroyed assets (Decision 28320-D01-2023).

etiring coal assets to be recovered from customers that are higher than they should have been. The second, is that NS Power unnecessarily invested in these assets in the face of impending retirements. [433] As discussed previously in this...

AI summary The Board criticizes NS Power for overestimating depreciation rates in past studies and unnecessarily investing in retiring coal assets. It notes a 2010 depreciation study led to a settlement (Matter M03665) reducing rates, later implemented in 2012. NS Power's 2022 rate application omitted updated studies but proposed the DDA to address undepreciated coal costs. Intervenors disputed DDA costs but did not challenge depreciation rates as imprudent.

3.7.2 Overview of Cost of Capital Evidence

AI summary This section provides an overview of the evidence presented regarding the cost of capital in a regulatory proceeding, likely related to utility rate-setting or investment recovery. Key focus areas include methodologies for determining capital costs, regulatory considerations, and stakeholder arguments.

3.7.3 Return on Equity Modeling [470] In the discussion that follows, references to results from Concentric's analysis are to the update it provided in Undertaking U-14 using the analysis as generally described in its original report [Exhi...

AI summary The section references Concentric's updated analysis in Undertaking U-14, which builds on its original report (Exhibit N-8, Appendix 10A) for the North American proxy group. The analysis is part of a regulatory proceeding involving Nova Scotia's energy sector.

3.7.3.3 Risk Premium Model [498] The risk premium model can be based on differences in the return between bonds and equity or the expected bond-equity return spread. The risk premium model accounts for equity holding more risk than debt be...

AI summary The risk premium model calculates equity returns as the sum of long-term bond yields and equity risk premiums, reflecting higher risks for equity investors. Concentric and Dr. Cleary applied the model differently, though specific formula variations are detailed in an accompanying table.

is own personal judgement rather than current market data. It said other inputs and assumptions were not reasonable given the context of current and prospective economic and capital market conditions. [508] In its closing submissions, the...

AI summary The NDP Caucus urged the Board to lower Nova Scotia Power's rate of return based on Dr. Cleary's evidence. The Department of Energy argued against higher returns, citing poor reliability and impacts on rural ratepayers. NS Power did not rebut Dr. Cleary's findings, which showed NS Power exceeded allowed returns in 8 of 12 years since 2012.

3.7.5.1 Return on Equity [514] A utility's return on equity must be consistent with the fair return standard. There is no single test for determining an appropriate return on equity. Both experts in this proceeding used a variety of models...

AI summary The document discusses determining a utility's return on equity using models like CAPM and BYPRP, with experts averaging results. Dr. Cleary emphasizes CAPM's conceptual advantages and direct financing cost link, while also weighting BYPRP due to its intuitive nature and wider use by Canadian CFOs. The Board acknowledges experts' use of multiple approaches to inform their recommendations.

reasonableness and, you know, within the range of that's appropriate costs that are allocated to that particular class? - A. (Blair) Yes, that's right. [Transcript, January 7, 2026, pp. 163-164] [569] In NS Power's case, costs are directly...

AI summary NS Power allocates costs directly to rate classes when feasible, using functional grouping (production, transmission, distribution, retail) and allocation factors like customer count and demand. The methodology hasn't been comprehensively reviewed since a 2014 NSUARB proceeding (2014 NSUARB 53).

Classification of Generation Costs by System Load Factor NS Power's current approach to the classification of generation-related fixed costs such as depreciation and financing costs is to first classify environmental and fuel conversion-re...

AI summary NS Power currently classifies generation-related fixed costs by first allocating environmental and fuel conversion-related capital costs to energy, then using system load factor for other assets. They propose changing this method to classify all generation assets using the system load factor exclusively.

[605] In its submissions, the Consumer Advocate noted: The Consumer Advocate shares Ms. Palmer's concerns regarding the Minimum System Method, and through the Settlement Agreement, and resulting GRA, NS Power has agreed that the use of the...

AI summary The Consumer Advocate supports a separate proceeding for the Minimum System Method post-test years, aligning with Ms. Palmer's concerns. The NDP and Liberal Party advocate for the basic customer method to reduce residential costs, while NS Power defends the COSS as the basis for cost allocation.

3.8.3.1 Findings [616] As with the discussion about the use of the minimum system method or the basic customer method, the Board finds that a more satisfactory resolution of this issue would result from a broader debate about this issue. T...

AI summary The Board directs a comprehensive analysis of distribution system cost classification, emphasizing the need for broader debate beyond jurisdictional scans. It expects issues identified by Ms. Palmer, including primary system usage, residential service at primary voltages, and demand relative to peak, to be thoroughly addressed in the proceeding.

Proposed COSS Methodology Modified COSS Methodology as per U-6 Variance Smoo othed Sm oothed Smoo thed Customer Class 2026 2027 2026 2027 2026 2027 Domestic 3.8 4.1 3.2 3.7 (0.6) (0.4) Small General 3.6 3.9 3.4 3.8 (0.2) (0.1) General (0.2...

AI summary The table compares proposed and modified Cost-of-Service Study (COSS) methodologies under Undertaking U-6, showing variances in cost allocations across different customer classes in Nova Scotia. Variances range from -7.0% to +7.9% for specific classes, with total variance at 0.0%.

e only outstanding issue that would be addressed in the future proceeding noted in the agreement was the use of the minimum system method beyond the test years in the current general rate application: - Q. So N-37, page 20 in the PDF, line...

AI summary The discussion centers on the future consideration of the 'Minimum System' method in cost-of-service studies beyond the current test period. Nova Scotia Power (NSP) acknowledges the Settlement Agreement's provision to address this in a standalone 2026 proceeding, but emphasizes that parties are not bound by prior positions. NSP expects future cost-of-service issues to be evaluated in subsequent General Rate Applications (GRA) without rehashing prior processes.

3.10.1 OATT [654] NS Power's Open Access Transmission Tariff (OATT) includes terms, conditions and rates for Transmission Services and Ancillary Services. It also includes operating agreements under which service will be provided, and the...

AI summary NS Power seeks to update its Open Access Transmission Tariff (OATT) rates and methodology, reflecting changes in revenue requirements, generation mix, and system usage since 2016. Proposed changes include using forecasted test year usage, adjusting transmission rates via Cost-of-Service studies, and modifying reactive power calculations. Amendments aim to align OATT with 2023-2024 GRA (M10431) directives on capacity-based ancillary services.

4.1 Demand Side Management Cost Recovery Rider [686] In this GRA, NS Power proposed changes to the methodology for calculating the Balance Adjustment (BA) but did not propose changes to the Demand Side Management (DSM) rider amounts for 20...

AI summary NS Power proposed changes to the Balance Adjustment (BA) methodology in its GRA but maintained 2026/2027 DSM rider amounts. The Board approved continuation of 2025 DCRR charges until further order. NS Power assumed $63.75M DSM expenditure for 2027, aligning with legislative requirements. The new BA proposal extends variance recovery/refund periods to reduce rate volatility and reflect multi-year DSM planning.

ocesses. But appreciate the point again that there's much more data that's associated with this and how those are assigned to our specific asset classes. [Transcript, January 12, 2026, pp. 1030-1031] [705] Hydro-Québec's Climate Change Ada...

AI summary Hydro-Québec's Climate Change Adaptation Plan (2022-2024) was compared to NS Power's approach in a regulatory proceeding. Hydro-Québec's plan includes two phases with detailed risk assessments and 'fact sheets' outlining adaptation measures. NS Power acknowledged a comparable first phase but argued its plan focuses on a different method for identifying adaptation measures, lacking similar detailed documentation but referencing a climate adaptation management system.

4.4.1 Findings [720] NS Power's firm capacity requirements in advance of 2030 continue to be the subject of review in several matters considered by the Board, including the Evergreen IRP Action Plan and Roadmap Update, the 10-Year System O...

AI summary The Board reviews NS Power's capacity requirements and approves OM&G costs for Lingan 2 and Trenton 5 due to reliability and compliance with NERC/NPCC. Sustaining capital costs for Lingan 2 are addressed in another proceeding, with the 2026 ACE Plan matter (M12619) noted as a future submittal.

The proposed depreciation by asset account under both ELG and ALG procedures (paras. [233-234]); - In its next depreciation study, to address Mr. Madsen's recommendations related to asset service life accounts 354, 356, 367, and 390.10 (pa...

AI summary The document discusses proposed depreciation studies under ELG and ALG procedures, addressing Mr. Madsen's recommendations for asset service life accounts 354, 356, 367, and 390.10. It highlights the need for adjustments in the next depreciation study as outlined in paragraphs [233-234] and [254].

[741] An Order will issue following the compliance filing. DATED at Halifax, Nova Scotia, this 25th day of March 2026. Stephen T. McGrath ______________________________ ______________________________ ______________________________ Roland A...

AI summary An order will be issued following a compliance filing in a Nova Scotia regulatory proceeding, dated March 25, 2026. The document includes signatures from Stephen T. McGrath, Roland A. Deveau, and Steven M. Murphy, indicating formal approval or acknowledgment.

NOVA SCOTIA ENERGY BOARD IN THE MATTER OF: THE PUBLIC UTILITIES ACT - and - IN THE MATTER OF: A GENERAL RATE APPLICATION by NOVA SCOTIA POWER INCORPORATED for approval of certain revisions to its Rates, Charges and Regulations INFORMATION...

AI summary The Nova Scotia Energy Board has issued information requests to Nova Scotia Power Inc. regarding its general rate application under the Public Utilities Act. Responses are due by April 16, 2026, with Steve Pronko designated as the contact person. The proceeding involves revisions to rates, charges, and regulations.

NSP COST OF SERVICE PANEL 107 Cr-ex, (Mahody) 1 material to the Application. I believe every aspect that 2 is or I would view as material was included and 3 described in the filing itself. So I don't believe the 4 filing would have been mi...

AI summary The speaker asserts that all material information was included in the filing and suggests that the Settlement Agreement should have been filed as part of the Application. The discussion refers to the draft GRA and mentions a future proceeding related to the minimum system methodology after the 2026/2027 test period.

Ottawa, Ontario PAGE NO. U-26 Re U-6: To provide revised versions of Table 1 and 2 from Ms. Palmer's evidence that would show the RC ratio and class revenue increases using the 1.5 kilowatt load-carrying capacity factor 1321 1 Halifax, Nov...

AI summary The document text outlines a regulatory proceeding in Halifax, Nova Scotia, where Dr. Sean Cleary is being introduced as a witness. The proceeding involves the submission of evidence and exhibits, specifically Exhibit N-32 and N-32(i), which detail qualifications and experience. The context suggests a formal hearing with a chairperson and counsel involved.