N-52024-2025 Bates White FAM Audit Report - Redacted
15 passages
XII.A. Background NSPI's owned generation has historically provided the vast majority of power to NSPI's customers. For example, from 2013 through 2015, NSPI's generating fleet provided about 87.4% of all energy to NSPI's customers.580 The...
AI summary NSPI's power supply historically relied heavily on its own generation, but recent years have seen increased reliance on third-party sources, including imports from Muskrat Falls. Power purchases vary in terms and can be driven by economic, reliability, or policy factors such as the Renewable Electricity Standard.
ls for certain amounts of firm energy to be provided at certain times in the year. (We address Muskrat Falls energy from NLH later in this chapter.) 586 Data compiled from NSPI FAM Quarterly Reports. - b. IPP Wind: NSPI lists 26 independen...
AI summary The text discusses NSPI's procurement of energy from various sources, including IPP wind, IPP other, and COMFIT programs. It outlines the fixed pricing structures under power purchase agreements, the 'take or pay' obligation for IPP wind, and the COMFIT program's role in enabling community-based renewable energy generation.
<sup>602 2024 FAM Annual Report, A5; 2025 FAM Annual Report, A5. In some cases, the "Total Cost" column differs slightly from the provincially established PPA price, due to rounding. totaling 3.85 MW, all of which produced at least some...
AI summary The text discusses renewable energy projects under Power Purchase Agreements (PPAs) with varying prices, administered by the Clean Nova Scotia Foundation. Total output from these projects was 3.85 MW, with prices ranging between $ /MWh and nearly $ /MWh. No force majeure events or terminated PPAs were reported during the audit period.
606 2024 FAM Annual Report, A5; 2025 FAM Annual Report, A5. 607 2024 FAM Annual Report, A5 and A5(2); 2025 FAM Annual Report, A5.and A5(2). During the Audit Period, there were three non-wind projects which NSPI either executed new PPAs or...
AI summary During the audit period, NSPI executed new and extended existing PPAs for non-wind projects, including a new PPA with New Dawn Enterprises under the Community Solar Program and an extension of an existing PPA. These actions were taken in response to directives from the Minister of Natural Resources and Renewables.
h, for a total forecasted cost of $ over that 33-month term. The original PPA, which had a 30-year term, was set to expire on August 31, 2024. The extension continues the terms of the original PPA.609 - • PPA Extension: On September 17, 20...
AI summary NSPI extended its PPA with a biomass CHP plant for 10 years at a fixed price, comparing it to alternatives like COMFIT and replacement capacity. The extension was justified through alternatives analysis, though it was noted that competitive procurement should be handled by the IESO to benefit FAM customers.
will hopefully embark upon improvements to introduce best practices competitive procurement to the province for the benefit of FAM customers. As such, we do not include a recommendation on this point. Figure XII-6 below shows NSPI's IPP Wi...
AI summary The text discusses NSPI's IPP Wind purchases during the Audit Period, which were below forecast, and mentions the execution of new PPAs with third-party wind projects. It also references annual reports from the FAM for data support.
Figure XII-7: New Wind PPAs Wind PPA Counterparty Schedule COD Expiration Date Project Size (MW) Cost per MWh December 15, 2026 25 years from commencement date 130.5 December 31, 2028 25 years from commencement date 150 December 31, 2028 2...
AI summary The text presents a table of new wind power purchase agreements (PPAs), including details such as counterparty, schedule COD, expiration date, project size, and cost per MWh. The table includes multiple entries with varying project sizes and expiration dates.
Term RFPs NSPI has historically relied in part upon RFPs for imported power across the New Brunswick-Nova Scotia intertie. With the energization of the Maritime Link in 2018, power could also be imported over that intertie with Newfoundlan...
AI summary NSPI has used RFPs for imported power via the New Brunswick-Nova Scotia intertie and the Maritime Link since 2018. RFPs are typically issued one month in advance and have a term of one month. During the Audit Period, RFPs were issued to comply with the EAA, and results are discussed in section XII.B.1.d.iii.
XII.B.1.d. Transactions over the Maritime Link This section addresses all power imported from Newfoundland and Labrador. Throughout this report, we may refer to this power as "Muskrat Falls" energy or generation, which refers to the 824 MW...
AI summary This section discusses the import of power from Newfoundland and Labrador, specifically from the Muskrat Falls hydroelectric generating station and the Maritime Link HVDC transmission line. It outlines the contractual arrangements between NSPI and NLH for energy and capacity purchases.
XII.B.1.d.i. Background on Transactions over the Maritime Link The Maritime Link was placed into service on January 15, 2018.638 However, as a consequence of delays in the construction and commissioning of both the Muskrat Falls Generating...
AI summary The Maritime Link was commissioned in 2018, but delays in the Muskrat Falls Generating Station and Labrador Island Link projects affected NSPI's contractual energy delivery from NLH. Three key agreements, including the Energy and Capacity Agreement, outline the provision of energy blocks to NSPI over a 35-year term.
XII.B.1.d.iii. Surplus Energy Deliveries (Pursuant to EAA) Under the terms of the EAA, NSPI may (at its sole option) issue a competitive market solicitation ("EAA RFP") by June 15 for energy to be delivered in the next contract year.694 NL...
AI summary Under the EAA, NSPI can issue an EAA RFP by June 15 for surplus energy delivery. NLH must respond in good faith if it forecasts positive available energy, defined as energy beyond its native load and NS Block obligations. NLH is required to provide a forecast to NSPI by March, and forecasts for the Audit Period were received.
XII.B.1.d.iii.1. 2024 EAA RFP NSPI issued its first of two EAA RFPs of the Audit Period on April 24, 2024, with responses due by May 24, 2024. NSPI sought offers for up to 150 MW of firm energy (with greater or lesser volumes being conside...
AI summary NSPI issued a 2024 EAA RFP seeking up to 150 MW of firm energy for the period September 1, 2024, through September 1, 2025. The RFP was sent to four recipients and received offers from counterparties. The RFP considered both standard and nonstandard energy products.
XII.B.3.b. Brooklyn Power Brooklyn Power is a 30-MW biomass generator located in Liverpool, Nova Scotia that uses a conventional steam turbine fueled primarily by wood, but that can also be powered by fuel oil. The PPA that underlies the B...
AI summary Brooklyn Power is a 30-MW biomass generator in Nova Scotia, operating under a PPA signed in 1992 with Emera Inc. as the current owner. The PPA is an exception to the Affiliate Code and is governed by its own terms. The document references a NSUARB matter and a request for UARB approval related to NS Power Energy Marketing Inc.
he term of ECA has begun as of August 15, 2021 and has a finite term of 35 years, each day that passes is another day FAM customers do not receive the planning reserve margin benefits of the NS Block. We turn next to the question of the lo...
AI summary The text discusses the term of an Energy and Capacity Agreement (ECA) starting August 15, 2021, and its 35-year duration. It highlights the loss of planning reserve margin benefits for FAM customers and recommends that NSPI consider including the carrying cost of Lingan 2 in its pursuit of compensation from NLH. The recommendation is based on previous audit findings and acknowledges the lack of a direct contractual mechanism for compensation.
XII.C. Conclusions Conclusion XII-1: The sources of power that serve FAM customers continue to become more diverse and regionally-integrated as evidenced by continued increases in imports and third-party purchases, totaling 35.9% during th...
AI summary The document outlines conclusions regarding the diversification of power sources for FAM customers, NSPI's PPAs with renewable generators, and the increase in imported power, particularly from the Muskrat Falls project via the Maritime Link.