Topic:"Public Utilities Act Nova Scotia" in M12835

2025 Annual Financial Statements Attachment 3 Page 3 of 30 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NSPI is working closely with the provincial government as the Province aims to transition off coal and reach 80 per cent renewable elect...

AI summary NSPI collaborates with the provincial government on renewable energy goals, operates under the Public Utilities Act, and uses a Fuel Adjustment Mechanism (FAM) to recover fuel costs. It is regulated by the NSEB with a cost-of-service model and ROE range of 8.75%-9.25%. NSPI is a subsidiary of Emera and holds interests in NSPEMI and WTI.

Recovery of NEO Compensation in Electricity Rates No portion of the compensation or benefits paid or allocable to NEOs who are also executive officers of Emera are included in NSPI rates. The Nova Scotia Public Utilities Act and the Nova S...

AI summary NSPI rates exclude compensation for NEOs who are also Emera executives, per the Nova Scotia Public Utilities Act and NSPI Regulations. These regulations limit recoverable compensation to 10% above the Nova Scotia Government Senior Official Pay Plan for CEOs and 13% of base salary for other benefits. Only 27% of Mr. Gregg's total compensation is included in NSPI rates, while others are fully funded by Emera.

Regulatory Environment – NSPI NSPI is a public utility as defined in the Public Utilities Act of Nova Scotia ("Public Utilities Act") and is subject to regulation by the NSEB. The Public Utilities Act gives the NSEB supervisory powers over...

AI summary NSPI operates as a regulated public utility under Nova Scotia's Public Utilities Act, overseen by the NSEB. It follows a cost-of-service model for rate-setting, ensuring cost recovery and investor returns without annual rate reviews, relying instead on ad hoc hearings. Regulatory details are referenced in financial statement note 7.

Nature of Operations Nova Scotia Power Inc. ("NSPI" or the "Company") is a vertically integrated regulated electric utility. It is the primary electricity supplier in Nova Scotia, Canada, providing electricity generation, transmission and...

AI summary Nova Scotia Power Inc. (NSPI) is a regulated electric utility owned by Emera, operating under the Public Utilities Act. It serves ~565,000 customers and has subsidiaries like NSPEMI and a 50% stake in WTI. NSPI's accounting policies are subject to NSEB approval.

2025 Annual Financial Statements Attachment 3 Page 3 of 30 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NSPI is working closely with the provincial government as the Province aims to transition off coal and reach 80 per cent renewable elect...

AI summary NSPI is transitioning to renewable energy under provincial and federal climate goals, operating under the Public Utilities Act and a cost-of-service model. It uses a Fuel Adjustment Mechanism (FAM) to recover fuel costs and is regulated by the Nova Scotia Energy Board (NSEB). NSPI's ROE range is 8.75-9.25%, with a 50% indirect stake in WTI and a 100% investment in NSPEMI. Seasonal energy demand and weather impacts are noted.

Recovery of NEO Compensation in Electricity Rates No portion of the compensation or benefits paid or allocable to NEOs who are also executive officers of Emera are included in NSPI rates. The Nova Scotia Public Utilities Act and the Nova S...

AI summary The compensation of Named Executive Officers (NEOs) at Nova Scotia Power Inc. (NSPI) that is recoverable in electricity rates is limited by the Nova Scotia Public Utilities Act and NSPI Regulations. Only a portion of executive compensation, such as 27% of Mr. Gregg's total compensation, is included in NSPI rates, while compensation related to Emera-wide responsibilities is excluded.

General NSPI is a vertically integrated regulated electric utility. It is the primary electricity supplier in the Province. NSPI has $8.1 billion of assets and provides electricity generation, transmission and distribution services to appr...

AI summary NSPI is a vertically integrated regulated electric utility in Nova Scotia, serving approximately 565,000 customers. It operates under the Public Utilities Act, with the NSEB overseeing its operations and approving electricity rates. NSPI's rates are set to recover prudently incurred costs and provide a reasonable return to investors.

Other Legislation In November 2023, the Province enacted amendments to the Electricity Act which permit the Governor in Council to approve energy storage projects proposed by a public utility and owned wholly or in majority by the public u...

AI summary In 2023, Nova Scotia amended the Electricity Act and Public Utilities Act to enhance energy storage and regulatory oversight. Amendments allow the Province to approve energy storage projects, issue requests for proposals, and increase penalties for noncompliance by NSPI. These changes aim to support renewable energy integration and customer cost reduction.

2025 Annual Financial Statements Attachment 5 Page 26 of 26 REDACTED (CONFIDENTIAL INFORMATION REMOVED) energy business that purchases and sells electricity and natural gas in the United States of America's energy commodity market and is i...

AI summary This document defines key terms and entities related to Nova Scotia Power Incorporated (NSPI) and its affiliated companies, including the Maritime Link Project and the Nova Scotia Renewable Electricity Regulations. It also outlines the scope of the 2025 Annual Information Form (AIF) and references the Public Utilities Act of Nova Scotia.

Regulatory Environment – NSPI NSPI is a public utility as defined in the Public Utilities Act of Nova Scotia ("Public Utilities Act") and is subject to regulation by the NSEB. The Public Utilities Act gives the NSEB supervisory powers over...

AI summary NSPI operates under the Public Utilities Act of Nova Scotia, regulated by the NSEB. It follows a cost-of-service model with rates set to recover prudently incurred costs and provide a reasonable return to investors. NSPI does not undergo general annual rate reviews but participates in hearings as needed.

NSPI NSPI is a public utility as defined in the Public Utilities Act of Nova Scotia ("Public Utilities Act") and is subject to regulation by the NSEB. The Public Utilities Act gives the NSEB supervisory powers over NSPI's operations and ex...

AI summary NSPI operates as a regulated public utility under the Public Utilities Act, with the NSEB overseeing its operations and setting electricity rates. NSPI's regulated return on equity (ROE) for 2024 and 2025 is set between 8.75% and 9.25%, based on a 40% common equity component of the approved rate base.

Appendix B— Regulatory Overview - NSPI operates under the NSEB's regulatory environment using a COS methodology that allows the Company to recover all prudently estimated operating expenses and earn a reasonable return on approved capital...

AI summary NSPI operates under the NSEB's regulatory framework with a target ROE range of 8.75% to 9.25%. In 2022, the Public Utilities Act was amended to cap base-rate increases at 1.8% and limit ROE and deemed equity. A negotiated settlement in 2023 approved a 6.9% average rate increase for 2023 and 2024, including components for base-rate, DSM, and fuel adjustments. The amendment was viewed as a negative political intervention.

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: M12835 NS Power's 2025 Annual and Regulated Financial Statements

AI summary The document pertains to a regulatory proceeding under the Public Utilities Act, R.S.N.S. 1989, c.380, concerning NS Power's 2025 Annual and Regulated Financial Statements, identified by the matter number M12835.