Topic:"Rate Base" in M13113

First-Year Funding and Financial Performance In our first year, to fund all of this critical work, IESO Nova Scotia secured $2.7 million in provincial start-up funding, and $5.3 million in annual revenue requirement approved by the Nova Sc...

AI summary IESO Nova Scotia secured $2.7 million in provincial start-up funding and $5.3 million in annual revenue requirement approved by the NSEB. Operational spending was $0.3 million less than the approved budget, with unused funds returning to customers. Interim and enduring fee mechanisms were established for future operations, emphasizing cost management and value delivery.

a) Revenue recognition In its inaugural period, IESO Nova Scotia's revenue is derived from the Province of Nova Scotia government grants, rate recovery revenue and interconnection revenues. IESO Nova Scotia recognizes government grants as...

AI summary IESO Nova Scotia's revenue recognition includes government grants, rate recovery revenue, and interconnection fees. Grants are recognized over the period they compensate for related costs, rate recovery revenue is recognized monthly as performance obligations are met, and interconnection fees are recognized as studies progress. Revenue is measured at fair value.