Topic:"Participant Costs Benefits" in M12451

\ \ 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 Sir , I have heard the ns power board is looking to...

AI summary A Nova Scotian resident criticizes Nova Scotia Power (NSP) for requesting a 2.5% rate increase amid personal financial hardship, including data breaches and poverty. They argue that consumers should not bear the cost of NSP's corporate failures, demanding accountability and rejecting further financial burden.

of that being paid to him by NS power rate rate payers. While in 2022. He earned himself 519 596$. That is a massive leap in pay. While most nova Scotians received no raises in these desperate times. How is it that a company who consistent...

AI summary The text criticizes Nova Scotia Power (NSP) for significant board member pay increases amid public financial hardship, a $500M government loan to be repaid by ratepayers, and approved rate hikes to cover debt. It questions why NSP employees receive raises while citizens face job losses and stagnant wages, arguing that corporate debt should be managed without passing costs to customers.

DSM Cost Allocation Method Approach There are 3 kinds of cost benefits resulting from DSM: - (1) System—avoided future infrastructure and related costs, reduced fuel costs, and contribution to achieving environmental and emissions restrict...

AI summary The document outlines three categories of benefits from Demand Side Management (DSM): system-wide, class-based, and participation-specific. It argues that DSM costs should be allocated based on the level of benefit received by customer classes, with those receiving more benefits contributing more. However, precise allocation is challenging due to the nature of DSM programs.

2024 Board and Committee membership Attendance Total • Board 9 of 9 100% • Audit Committee 5 of 5 100% • Risk and Sustainability Committee 3 of 3 100% Total Attendance 17 of 17 100% Total compensation Fees earned in 2024 ($) All other comp...

AI summary The document outlines the 2024 attendance rates for the Board and its committees, showing 100% attendance. It also provides details on total compensation, DSU holdings, and share ownership for Mr. Robertson, including his previous role with Northern Genesis Acquisition Corp.

Market Competitiveness Emera benchmarks executive compensation to ensure the Company pays competitively in the markets where it operates and to motivate, attract and retain high-quality talent. Emera's executive compensation program is des...

AI summary Emera ensures competitive executive compensation to attract and retain talent, aligning with the median of comparable companies. Pay positioning may vary based on factors like experience and affordability, with total compensation including base salary and incentives tied to shareholder value.

As a result of the changes, the variable or at-risk component of the five NEOs' compensation averaged 75 per cent in 2024. The changes made to the compensation of the respective NEOs in 2024 are also reflected in the NEO Summary Compensati...

AI summary The variable or at-risk component of the five Named Executive Officers' (NEOs) compensation averaged 75 per cent in 2024, with changes reflected in the NEO Summary Compensation Table.

ection is filed under subsection 93.4(4) or (5) of the Act. 4 (1) The Act is amended by adding the following after section 93.3: Definitions 93.4 (1) The following definitions apply in this section. FABI surplus, of a foreign affiliate (re...

AI summary The text outlines an amendment to the Act, specifically adding definitions under section 93.4. It defines FABI surplus in relation to a foreign affiliate, including specific conditions related to taxable surplus calculations under the Income Tax Regulations.

ductible 248(1), but does not include a natural person or a part- par l’effet de la division 95(2)f.11)(ii)(D)) nership. (contribuable) sur le total des sommes dont chacune re- présente : transaction includes an arrangement or event. (opér...

AI summary The text outlines definitions related to tax regulations, including terms such as 'transaction,' 'transferred capacity,' and provisions under subsection 95(2)f.11)(ii)(D). It discusses revenue from interests and financing of affiliated companies and sums included under specific tax subdivisions.

2 the foreign affiliate’s relevant affiliate écrit en vertu de la présente division selon les interest and financing expenses (as de- modalités réglementaires, fined in subsection 18.2(1)) (determined without regard to this clause and subs...

AI summary The text outlines specific financial calculations related to a foreign affiliate's interest and financing expenses, as well as foreign accrual property losses, under a regulatory framework. These calculations are determined without regard to certain subsections of the Income Tax Regulations.

3 les dépenses d’intérêts et de finance- (determined without regard to this clause, ment de la société affiliée pertinentes clause (D) and subsection 18.2(19)) for the (au sens du paragraphe 18.2(1)) de la socié- taxation year, and té étra...

AI summary The text outlines the determination of interest and finance expenses of a foreign affiliate, excluding specific provisions, and references the foreign affiliate's foreign accrual property loss or income for the taxation year.

dit rating agencies lower NS Power's credit rating to "junk" status. As noted in Morrison Park's evidence, this would have serious long-term cost consequences resulting in higher costs for ratepayers. [253] Therefore, the Board accepts the...

AI summary The Board accepts NS Power's average asset service lives but requires improvements in depreciation studies for specific accounts (354, 356, 367). Recommendations include tracking asset additions, studying physical lives, and segregating conductor types. Morrison Park's evidence highlights risks of lower credit ratings increasing ratepayer costs.

abilities was imminent. In fact, there has never been any firm commitment from the Province that it will change regulations to permit securitization. [Department of Energy Closing Submissions, p. 15] [309] However, in their closing submiss...

AI summary The Department of Energy asserts no commitment to regulatory changes for securitization, while NS Power and stakeholders support it, citing section 35G of the Public Utilities Act and a letter from Karen Gatien, Deputy Minister of Energy, which emphasizes cost reduction for ratepayers without government cost.

27, … In the GRA negotiation process, securitization received unanimous support from customer representatives as the preferred solution for financing the DDA assets. … Not only have customer representatives viewed securitization favourably...

AI summary The document discusses support for securitization of DDA assets by customer representatives and credit rating agencies (S&P, DBRS Morningstar). The Board accepts evidence that securitization lowers financing costs, citing the 2024 FAM receivables purchase as a precedent. Intervenors oppose retroactive deferral effectiveness but acknowledge securitization's benefits. Morrison Park notes improved bond yields due to positive developments like securitization.

he Department submits that, at least as early as 2016, NS Power knew that its coal assets must be retired by 2030 but did not take this into consideration when valuing its assets. The Department said: In the 2022 GRA, the Department submit...

AI summary The Department of Energy argues that NS Power failed to account for mandatory coal plant retirements by 2030 in asset valuations, leading to improper ratepayer cost allocation. Regulatory standards require impairment write-downs for probable early retirements, which NS Power allegedly ignored despite clear federal and provincial policies. The 2020 Integrated Resource Plan's 2040 phase-out target is also criticized as inconsistent with 2016 federal legislation.

Request IR-12: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 9-10 of 58 - Per N-6, (Appendix 7C), page 9-10 of 58, we understand that 2026 forecast is higher than 2024 - compliance restated for "communications and public...

AI summary Request IR-12 references N-6 2026-2027 GRA Direct Evidence Appendix 7C, noting the 2026 forecast exceeds 2024. It requests justification for increased 'communications and public affairs' consulting fees and details on planned engagements.

Request IR-17: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 13-14 of 58 - Per N-6, (Appendix 7C), page 13-14 of 58, we understand that 2026 forecast is lower than 2024 - actuals for "facilities, procurement and security"...

AI summary The request seeks clarification on the decrease in consulting fees for 'facilities, procurement and security' in 2024, which led to a lower 2026 forecast. It asks for details on the nature of the completed consulting engagements, their associated costs, and the reasons for their discontinuation.

earing, to estimate rate increases using a cost-of-service methodology that is less biased against residential customers, so that Nova Scotian households don't bear an outsized burden of any increase. In closing, the Nova Scotia NDP Caucus...

AI summary The Nova Scotia NDP Caucus opposes a utility rate increase application, arguing that the proposed cost-of-service methodology unfairly burdens residential customers. They urge the Board to adjust rates, reconsider cost allocation, and address the utility's ownership structure. They highlight the financial strain on Nova Scotian households, with half already struggling to afford energy costs.

Valuation of assets 28. NS Power has only completed two depreciation studies in the last fifteen years. After the 2011 depreciation study, nothing further was filed until this proceeding. That is remarkable 5 Exhibit N-32, page 5, lines 19...

AI summary NS Power (NSPI) conducted only two depreciation studies in 15 years, with the last prior to 2011. The Department argues this gap likely caused over-inflated coal plant valuations and higher ratepayer costs, citing environmental legislation changes. The recent Gannet Fleming study omitted factors like 'stranded' costs and legislation.

- Used and useful: After 2030 (or earlier if units are retired), coal assets will no longer be used and useful. At that point, continued inclusion in the rate base is difficult to justify. - b. Prudence of life-extension and reinvestment:...

AI summary The document emphasizes the importance of accurate asset valuation for coal plants in Nova Scotia, arguing that post-2030 coal assets may no longer be useful, raising questions about the prudence of past reinvestment. The UAD line reinforces that utilities cannot guarantee full recovery of sunk costs if assets become obsolete due to policy or technology. The Board may disallow costs if NS Power failed to anticipate policy signals, and write-downs are justified if alternatives were under-pursued and ratepayer harm exists.

page-10-9"> The Industrial Group agrees; securitization represents a balanced solution that lowers electricity costs for ratepayers, while ensuring NSPI can recover its prudently incurred costs. The Industrial Group remains hopeful that th...

AI summary The Industrial Group supports securitization as a balanced solution to reduce electricity costs for ratepayers while allowing NSPI to recover prudently incurred costs. They urge the Province to enact s 35G of the Public Utilities Act and seek Board confirmation of securitization benefits. Statutory authority for legislative recommendations is cited, with references to the Energy Reform (2024) Act .

gan meaningful engagement to facilitate the securitization of costs at a lower cost than would otherwise be the case if the financing was done at WACC, which includes an equity component for NS Power. The financial benefits of securitizati...

AI summary NS Power argues that securitization of costs would reduce expenses compared to WACC, benefiting ratepayers. The 2026-27 GRA shows depreciation and accretion expenses reduced by $26.6M annually due to securitization. References to regulatory decisions and exhibits support the analysis.

dit rating agencies lower NS Power's credit rating to "junk" status. As noted in Morrison Park's evidence, this would have serious long-term cost consequences resulting in higher costs for ratepayers. [187] Further, at this point there rem...

AI summary Uncertainty around decommissioning costs for NS Power's hydro assets and the Board's acceptance of adjusted net salvage rates in the GRA. The Board acknowledges the proposed changes despite ongoing policy gaps regarding decommissioning frameworks.

dit rating agencies lower NS Power's credit rating to "junk" status. As noted in Morrison Park's evidence, this would have serious long-term cost consequences resulting in higher costs for ratepayers. [253] Therefore, the Board accepts the...

AI summary The Board accepts NS Power's asset service lives but mandates improvements in depreciation studies for specific accounts. Morrison Park highlights that a credit rating downgrade could increase ratepayer costs. Recommendations include tracking additions, studying asset lives, and segregating conductor types in future studies.

abilities was imminent. In fact, there has never been any firm commitment from the Province that it will change regulations to permit securitization. [Department of Energy Closing Submissions, p. 15] [309] However, in their closing submiss...

AI summary The Department of Energy notes no firm commitment from the Province to change regulations for securitization. NS Power and customer representatives support securitization, citing ratepayer savings. The Province's Deputy Minister of Energy, Karen Gatien, affirmed engagement to enable securitization via s. 35G of the Public Utilities Act , aiming for a financing order by year-end.

27, … In the GRA negotiation process, securitization received unanimous support from customer representatives as the preferred solution for financing the DDA assets. … Not only have customer representatives viewed securitization favourably...

AI summary The document discusses support for securitization as a financing solution for DDA assets, endorsed by customer representatives and credit rating agencies. Intervenors oppose retroactive deferral effectiveness but agree on securitization's benefits, citing lower financing costs and past examples like the 2024 FAM receivables purchase. The Board acknowledges evidence that securitization reduces costs, citing improved bond yields and market responses to NS Power's actions.

, 2004 FCA 149, where that court said: - 12 Even though cost of capital may be more difficult to estimate than some other costs, it is a real cost that the utility must be able to recover through its revenues. If the Board does not permit...

AI summary The Federal Court of Appeal emphasized that utilities must recover their cost of capital to remain viable, warning that failure to do so would lead to operational collapse, harm shareholders, and negatively impact customers, particularly in markets with limited competition. The court also ruled that customer impact is not a relevant factor in determining return on equity under the Northwestern Utilities test.