Topic:"Rates And Money" in M12451

Type of complaint: Rates and Charges Additional details: I would like to put forward a complaint on the recent rate hike request by NSP. They have demonstrated that they cannot keep personal information secure, and I do not feel it is my r...

AI summary A complaint is filed against NSP's recent rate hike request, citing concerns over cybersecurity failures and the fairness of passing the cost of upgrades to consumers. The complainant argues that NSP should bear the cost of cybersecurity improvements rather than customers, especially given high salaries and bonuses paid to NSP employees.

Kim, Thank you for responding so quickly. It was a surprise to have my email handled in such a way. Is the board interested in further information? I ask because we received our current power bill last night, which is again estimated. Afte...

AI summary Christine Cameron writes to the Board expressing frustration with Nova Scotia Power (NSP) for providing estimated bills and poor service, citing a broken power pole and the CEO's high salary. She argues that NSP should reduce rates due to mismanagement and suggests better investment in staff and maintenance.

\ \ 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 Answer: Me...you...every NSPI customer...certainly...

AI summary The email criticizes Nova Scotia Power (NSPI) for mismanagement, corporate welfare, and legal violations, including failure to comply with federal laws and ineffective regulation by the NSEB. It highlights the CEO's lack of accountability and the broader systemic failures in governance and regulation.

Notice of Application 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 Ra...

AI summary Nova Scotia Power Incorporated (NS Power) is applying for revisions to its electricity rates, charges, and regulations for 2026 and 2027, citing material changes in circumstances since the last rate adjustment in February 2023. The application is supported by customer representatives and includes direct evidence and appendices.

- 5. There are regulatory proceedings ongoing or anticipated at the time of this Application that could affect the test year revenue requirement. This Application does not account for any additional spending (revenue requirement) that may...

AI summary Nova Scotia Power Incorporated (NS Power) submits an application for regulatory approval, asserting that the requested order is in the public interest and in the interest of NS Power. The application does not account for potential changes in revenue requirements due to ongoing or anticipated regulatory proceedings, which may be addressed in a future Compliance Filing.

Note: Appendix numbers correspond to section numbers in the Application. Some sections do not contain appendices. Description Appendix List of Standardized Filings and Attachments 1A List of Abbreviations 1B Status of GRA-Related Deliverab...

AI summary The document outlines various appendices related to a regulatory proceeding, including standardized filings, operating costs, depreciation studies, hydro decommissioning reports, and cost of service studies. These appendices provide detailed information on fuel and power costs, asset management, and infrastructure planning.

9 Figure 2-1 – 2026-2027 Proposed Rate Impacts (Percentage Change) Customer Class 2026 2027 Domestic Service Fuel 1.2 (0.4) Non-Fuel 2.6 4.4 Total 3.8 4.1 Small General Fuel 2.7 (0.8) Non-Fuel 1.0 4.8 Total 3.7 4.0 General Fuel 3.5 (3.2) N...

AI summary The document presents a table showing the proposed rate impacts for different customer classes from 2026 to 2027, including percentage changes for fuel and non-fuel costs. The data highlights varying impacts across domestic, general, industrial, and municipal classes, with some classes experiencing significant decreases and others increases.

3 Figure 2-2 – 2026 Proposed Rate Summary Proposed Rate Changes Units Current 2025 Proposed for 2026 Percentage Change Domestic Service Tariff Customer Charge $/mo. 19.17 20.24 5.6 Energy Charge ¢/kWh 17.928 18.610 3.8 DSM Rider ¢/kWh 0.63...

AI summary The document presents a table outlining proposed rate changes for various service tariffs in 2026, including customer charges, energy charges, and demand charges, with percentage changes compared to the current 2025 rates. The DSM Rider remains unchanged across all categories.

Nova Scotia Power's Request - In this GRA, Nova Scotia Power is seeking an order from the Board approving the following: - 1. The 2026 and 2027 revenue requirements as described in Section 11 to enable NS Power to recover the prudent and r...

AI summary Nova Scotia Power is requesting regulatory approval for various items, including revenue requirements for 2026 and 2027, adjustments to the Fuel Adjustment Mechanism, amendments to the FAM Plan of Administration, and deferrals related to securitization and depreciation. It also seeks approval for specific deferrals, updated studies, and continuation of a Storm Cost Recovery Rider pilot.

- Updated assumption for Renewable to Retail (RTR), with a total of 300 GWh moving to the RTR market in 2026 and a total of 421 GWh in 2027. For context, the 2024 Load Forecast assumed 61 GWh moving to RTR in 2025 and a total of 246 GWh in...

AI summary The document discusses updates to the Renewable to Retail (RTR) market assumptions, load forecasts for 2026 and 2027, and adjustments to the load forecast due to migration to RTR and changes in customer load distribution. It highlights increased residential and commercial sales, decreased sales due to RTR migration, and the impact of electrification on demand.

Figure 7-1 – Five-Year Operating Cost Forecast 2026 2027 2028 2029 2030 Operating Costs ($ million) 351.8 357.9 380.0 387.5 385.0 Increase ($ million) 6.1 22.1 7.4 (2.5) Percentage Change 1.7 6.2 2.0 (0.6) The following inputs and assumpti...

AI summary Figure 7-1 presents a five-year operating cost forecast, showing projected operating costs and their changes from 2026 to 2030. The forecast includes assumptions used in its preparation, highlighting trends in increasing and decreasing costs over the period.

Regulatory Amortizations - Regulatory amortizations for 2026-2027 are set out in [Figure 8-3](#page-45-0) below. Regulatory amortization

AI summary The document discusses regulatory amortizations for the period 2026-2027, referencing Figure 8-3 on page 45-0. It outlines the amortization process as part of the regulatory proceedings.

12 consistent with the method applied in previous rate cases.

AI summary The text refers to a method used in previous rate cases, indicating consistency in approach.

Maritime Link Capital Applications - In its last GRA, NS Power requested approval of four capital projects associated with transmission upgrades to accommodate energy flowing from the Maritime Link onto and through NS Power's system, and t...

AI summary NS Power requested approval for four capital projects related to transmission upgrades to accommodate energy from the Maritime Link. The Board deferred including these projects in the rate base until NS Power demonstrated that wheeling tariff revenue and/or the economic value of Nalcor surplus energy purchases met specific cost thresholds. By Q1 2025, these revenue streams exceeded the costs for four consecutive quarters.

Figure 9-5 – Benefits and Costs of Maritime Link Utilization Q2 2024 Q3 2024 Q4 2024 Q1 2025 Total Benefits $17,171,429 $11,944,554 $13,152,383 $8,701,070 Total Costs $954,768 $949,158 $943,547 $937,937 Net Benefit $16,216,661 $10,995,396...

AI summary Figure 9-5 presents the benefits and costs of Maritime Link utilization across four quarters, showing positive net benefits in each period. The assets meet the threshold outlined in the Board's directive and the Company.

Revenue Requirement Categories - Revenue requirement is the sum of amounts necessary to be recovered in each test year in the - following fuel and non-fuel categories: - Fuel and purchased power, including solid fuel costs, natural gas, oi...

AI summary The document outlines the revenue requirement categories, which include fuel and non-fuel costs such as OM&G, depreciation, taxes, interest, and return on equity. These categories are detailed in Sections 5 and 7 through 10 of the Application and illustrated in Figure 11-1.

1 Figure 11-1 2026-2027 Breakdown of Forecast Revenue Requirement by Category Category 2026 ($ Million) 2027 ($ Million) Fuel & Purchased Power $918.6 $918.4 OM&G 351.8 357.9 Demand Side Management Expense 63.8 63.8 Depreciation and Accret...

AI summary The text presents a forecast revenue requirement breakdown for 2026-2027, including categories such as fuel, depreciation, taxes, and return on equity. It also discusses the enactment of Bill C-59, which introduces the EIFEL regime to limit interest and financing expenses to 30% of earnings before interest, taxes, depreciation, and amortization.

- e. Open Access Transmission Tariff (OATT) Updates 1  Attachment 2 2026 COSS (Partially Confidential) 2  Attachment 3 2027 COSS (Partially Confidential) 3  Attachment 4 Interruptible Credit Calculations 4  Attachment 5 2026 Base Cost...

AI summary The document outlines updates to the Open Access Transmission Tariff (OATT) with various attachments related to cost-of-service studies, fuel allocation, revenue-to-cost ratios, and rate development for 2026 and 2027. It also includes reports on customer rate classes and revenue proofs.

Figure 13-1 – Proposed Increases to Customer Charges Customer Class Current Rate ($) Proposed Rate ($) 2026 Proposed Rate ($) 2027 Domestic Service 19.17 20.24 21.38 Small General 21.28 22.16 23.07 Update to Interruptible Credit

AI summary The document presents proposed increases to customer charges for different service classes in 2026 and 2027. It also mentions an update to interruptible credit, reflecting potential changes in billing procedures and rate structures.

Non-Standard Meter Service (AMI) Opt-Out Fee - In January 2022, the Company filed its GRA which included a proposed AMI opt-out charge of - $3.67 per month for customers whose meters are currently read bi-monthly, and $22.01 per month - fo...

AI summary NS Power proposed an AMI opt-out fee in its GRA, but the Board did not approve it in February 2023. The Company has since addressed the Board's general direction in Appendix 13B and is now proposing a revised monthly opt-out charge schedule outlined in Figure 13-3.

Figure 13-3 – Proposed Schedule of AMI Opt-out Fee Monthly Charges for 2026 and 2027 Standard Customer Meter Proposed Opt-out Proposed Opt-out Charge Read Frequency Customer Meter Read Frequency in 2026 in 2027 Bi-monthly (6 times per year...

AI summary Figure 13-3 outlines the proposed AMI opt-out fee monthly charges for 2026 and 2027, showing different rates based on read frequency. The charges increase for bi-monthly meters and remain unchanged for monthly meters. This aligns with the 2023-2024 GRA approach.

Figure 13-4 – Pole Attachment Fees 2026 and 2027 2026 Increase 2026 Fee 2027 Increase 2027 Fee 4 percent $23.81 2 percent $24.29 Open Access Transmission Tariff

AI summary The text provides a table showing the percentage increases and corresponding fees for pole attachment in 2026 and 2027, followed by a heading referencing an Open Access Transmission Tariff.

Figure 14-1 – Percentage Increases by Customer Class (Fuel and Non-Fuel) Customer Class 2026 2027 Domestic Service Fuel 1.2 (0.4) Non-Fuel 2.6 4.4 Total 3.8 4.1 Small General Fuel 2.7 (0.8) Non-Fuel 1.0 4.8 Total 3.7 4.0 Customer Class 202...

AI summary Figure 14-1 presents percentage increases in fuel and non-fuel costs for various customer classes in 2026 and 2027. The data shows varying trends across different classes, with some experiencing increases and others decreases. This information is used to analyze rate changes for NS Power's customers.

4 Figure 14-2 – Proposed 2026 Rates Proposed Rate Changes Units Current 2025 Proposed for 2026 Percentage Change Domestic Service Tariff Customer Charge $/mo. 19.17 20.24 5.6 Energy Charge ¢/kWh 17.928 18.610 3.8 DSM Rider ¢/kWh 0.633 0.63...

AI summary The document outlines proposed rate changes for 2026, including adjustments to customer charges, energy charges, and demand charges across various tariff categories. The DSM Rider remains unchanged in most categories, while some rates show significant increases or decreases, such as a -26.4% change in the Large Industrial Tariff's demand charge.

CUSTOMER CHARGE per month Effective January 1, 2026 $20.24 Effective January 1, 2027 $21.38 ENERGY CHARGE cents per kilowatt-hour Effective January 1, 2026 18.454 Effective January 1, 2027 19.216 FUEL ADJUSTMENT MECHANISM (FAM)

AI summary The document outlines customer and energy charges effective January 1, 2026, and January 1, 2027, including the Fuel Adjustment Mechanism (FAM). These charges are part of a regulatory proceeding related to electricity rates and cost recovery.

The minimum monthly charge shall be as follows: per month Effective January 1, 2026 $20.24 Effective January 1, 2027 $21.38

AI summary The document outlines the minimum monthly charge effective January 1, 2026, and January 1, 2027, with amounts of $20.24 and $21.38 respectively.

CUSTOMER CHARGE per month Effective January 1, 2026 $20.24 Effective January 1, 2027 $21.38 ENERGY CHARGE Non-winter Period April 1 through October 31 cents per kilowatt-hour (all hours) Effective January 1, 2026 12.496 Effective January 1...

AI summary The document outlines the customer and energy charges effective January 1, 2026, and January 1, 2027. It includes monthly customer charges and energy charges for both non-winter and winter periods, with distinct rates for on-peak and off-peak hours during the winter period.

MAXIMUM PER KWH CHARGE/MINIMUM BILL The maximum charge per kWh will be that for a billing load factor of 10% except that the minimum monthly bill shall not be less than the rates in the table below.

AI summary The document sets the maximum charge per kWh at a billing load factor of 10%, with a minimum monthly bill specified in a table. This establishes a pricing structure that ensures a baseline revenue for the utility.

This tariff is applicable to electric power and energy where the annual consumption is 32,000 kWh, or greater and for which no other rates are applicable. For General tariff customers eligible for the Small General tariff the following con...

AI summary This tariff applies to electric power and energy customers with annual consumption of 32,000 kWh or more and no other applicable rates. Eligible customers under the Small General tariff must request service in writing, can switch rate classes twice every 24 months, and must remain on the tariff for at least six months after switching, meeting load threshold criteria.

ENERGY CHARGE cents per kilowatt-hour For the first 200 kilowatt During a hours per month per Critical Peak maximum demand after Event Critical Peak Event usage For all additional kilowatt-hours Effective January 1, 2026 143.408 12.265 10....

AI summary The document outlines the Energy Charge structure, including rates for the first 200 kilowatt-hours and additional usage during Critical Peak Events, effective January 1, 2026, and January 1, 2027. A Critical Peak Event is defined as a four-hour period during the Winter Period, between 6:00 AM and 11:00 PM.

per month Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 AVAILABILITY CONDITIONS

AI summary The document outlines the availability conditions for a rate adjustment, specifying the effective dates and monthly rates starting from January 1, 2026, and January 1, 2027.

The maximum charge per kWh will be that for a billing load factor of 10% except that the minimum monthly bill shall not be less than the following. per month Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 AVAILABILITY CO...

AI summary The text establishes a minimum monthly bill requirement, ensuring that even with a billing load factor of 10%, customers are not charged less than specified amounts effective January 1, 2026, and January 1, 2027.

The minimum monthly charge shall not be less than the rates in the table below. per month Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 AVAILABILITY CONDITIONS

AI summary The document sets the minimum monthly charge for a service, with rates increasing from $22.16 in January 2026 to $23.07 in January 2027. This section outlines the availability conditions.

per month Effective January 1, 2026 $11.201 Effective January 1, 2027 $12.003 32 cents per kilovolt ampere reduction in demand charge where the transformer is owned by the customer.

AI summary The document outlines monthly effective rates starting from January 1, 2026, and January 1, 2027, along with a reduction in demand charge based on kilovolt ampere reductions for customer-owned transformers.

MINIMUM MONTHLY CHARGE The minimum monthly charge shall be as follows.

AI summary The document outlines the minimum monthly charge, which is specified in a table. However, the table image is not accessible in the provided text.

Rate Code 12 per month Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 AVAILABILITY

AI summary Rate Code 12 outlines the monthly charges effective January 1, 2026, and January 1, 2027, with amounts of $22.16 and $23.07 respectively. The table provides a clear view of the rate changes over time.

(up to 249 kVA or 224 kW) Rate Code 21 per month Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 AVAILABILITY

AI summary This document outlines the monthly rate for Rate Code 21, which is applicable for customers with up to 249 kVA or 224 kW. The rates are set to increase from $22.16 in January 2026 to $23.07 in January 2027.

(250 kVA or 225 kW to 1,999 kVA or 1,799 kW) Rate Code 22 per month Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 AVAILABILITY

AI summary This document outlines the monthly rate for Rate Code 22, applicable to customers with a demand between 250 kVA or 225 kW and 1,999 kVA or 1,799 kW, effective from January 1, 2026, and January 1, 2027.

As follows, per kilovolt ampere of maximum demand of the current month or the maximum actual demand of the previous December, January, or February occurring in the previous eleven (11) months. per month Effective January 1, 2026 $9.280 Eff...

AI summary The text outlines a rate structure based on kilovolt ampere of maximum demand, with specific rates effective January 1, 2026, and January 1, 2027. It also references a 'Distribution Cost Adder' section, indicating potential additional costs related to distribution.

(a) Operating, Maintenance, and Capital (full charge) Watts kWh per per month ($) Other Rate Code month 2026 2027 001 300 and less 97 25.14 27.16 002 Greater than 300 154 36.27 39.16

AI summary The text provides a table outlining operating, maintenance, and capital charges for different rate codes in 2026 and 2027, with varying kWh per month and associated costs. The table includes Rate Codes 001 and 002 with corresponding charges and energy usage metrics.

(b) Operating Only kWh per per month ($) Rate Code Watts month 2026 2027 Other 003 300 and less 97 18.73 20.21 (2) Mercury Vapour

AI summary This section provides a table with rate codes and associated charges for electricity usage, specifically for Mercury Vapour under the Operating Only category. The table includes details such as rate code, watts, kWh per month, and charges for the years 2026 and 2027.

(a) Operating, Maintenance, and Capital (full charge) kWh per per month ($) Rate Code Watts month 2026 2027 Other 100 100 43 15.74 16.99 101 125 52 17.72 19.10 102 175 69 20.57 22.21 103 250 97 26.58 28.68 104 400 154 37.65 40.62 105 700 2...

AI summary This section outlines the operating, maintenance, and capital charges for different rate codes in Nova Scotia, providing detailed cost breakdowns for the years 2026 and 2027. The tables show varying rates per watt and monthly costs for different kilowatt-hour consumption levels.

(c) Operating Only Watts kWh per per month ($) Rate Code month 2026 2027 Other 301 125 52 10.04 10.83 302 175 69 13.32 14.38 303 250 97 18.73 20.21 304 400 154 29.73 32.08 305 700 260 50.19 54.17 306 1,000 363 70.08 75.63 (3) Fluorescent

AI summary The table presents rate codes and associated costs for different wattage levels in 2026 and 2027, including kWh per month and associated monetary values. The section is labeled 'Fluorescent' and may relate to lighting efficiency or energy usage.

(a) Continuous Burning – Operating Only Bulb Length Number of kWh per per month ($) Rate Code Bulbs per Unit month 2026 2027 Other 117 72 4 486 74.91 80.84 118 24 2 66 10.17 10.98 119 48 4 364 56.11 60.55 120 96 2 254 39.15 42.25 150 96 4...

AI summary The text presents tables detailing electricity consumption and associated costs for different rate codes under Continuous Burning and Photocell Operation in 2026 and 2027. The tables include metrics such as bulb length, number of bulbs per unit, kWh per month, and monthly costs.

kWh per per month ($) Rate Code Watts month 2026 2027 Other 341 1,000 360 69.50 75.00 342 400 150 28.96 31.25 343 250 100 19.31 20.83 344 175 75 14.48 15.63 345 150 67 12.93 13.96 346 100 50 9.65 10.42 (8) Light Emitting Diode (LED) less t...

AI summary The text provides a detailed table of electricity rate codes, including kilowatt-hour (kWh) usage per month and corresponding monthly costs for different wattage levels in 2026 and 2027. These rate codes are categorized for various types of LED lighting, such as traffic control signals and general operating purposes.

Rate Code 41 kWh per per month ($) Rate Code Watts month 2026 2027 Other 582 54 18 3.47 3.75 583 175 58 11.20 12.08 584 46 15 2.90 3.13 585 69 23 4.44 4.79 586 108 36 6.95 7.50 587 158 53 10.23 11.04 589 48 16 3.09 3.33 590 90 30 5.79 6.25...

AI summary The document outlines Rate Code 41 with various rate codes, wattages, and associated costs per month for different years, including 2026 and 2027. It also includes specific details for LED operating, maintenance, and capital charges under different rate codes.

kWh per per month ($) Rate Code Watts month 2026 2027 Other 724 55 18 9.84 10.58 740 190 63 26.08 27.74 741 261 87 32.30 34.37 742 124 41 19.24 20.47 743 84 28 16.12 17.13 (B) MISCELLANEOUS LIGHTING

AI summary The table presents rate codes and corresponding charges for miscellaneous lighting services, indicating rates per kWh and monthly costs for the years 2026 and 2027. The data includes various rate codes with different wattage and usage levels, along with associated costs.

The maximum charge per kWh will be that for a billing load factor of 10% except that the minimum monthly bill for the electric power and energy portion of the Miscellaneous Lighting Rate shall be $ as follows per month if such unmetered se...

AI summary The document specifies that the maximum charge per kWh is based on a billing load factor of 10%, with a minimum monthly bill for the electric power and energy portion of the Miscellaneous Lighting Rate, applicable when unmetered service is billed separately from any metered account.

(C) MISCELLANEOUS SMALL LOADS per month per kilowatt of connected load Effective January 1, 2026 13.499 Effective January 1, 2027 14.568 Energy Charge cents per kilowatt-hour for the first 200 kilowatt-hours per month per kilowatt of maxim...

AI summary The document outlines rate changes for miscellaneous small loads and energy charges effective January 1, 2026, and January 1, 2027, specifying rates per kilowatt of connected load and per kilowatt-hour of energy consumption.

Maximum per kWh Charge/Minimum Bill The maximum charge per kWh will be that for a billing load factor of 10% except that the minimum monthly bill shall be as follows per month if such unmetered service is billed separately from any metered...

AI summary The document outlines the maximum charge per kWh based on a 10% billing load factor and specifies that a minimum monthly bill applies for unmetered services billed separately from metered accounts.

Point-to-Point Transmission Service 2026 Delivery Period Charge ($) Yearly: One twelfth of $4,177.65 /MW of Reserved Capacity per year Monthly $348.14 /MW of Reserved Capacity per month Weekly $80.34 /MW of Reserved Capacity per week On-pe...

AI summary The document outlines the Point-to-Point Transmission Service charges for the years 2026 and 2027, detailing different delivery periods and corresponding charges per MW of Reserved Capacity. The charges vary based on the time of delivery, with higher rates during on-peak periods compared to off-peak periods.

Network Integration Transmission Service For 2026, $319.10/MW of Network Integration Transmission Service per month. For 2027, $216.52/MW of Network Integration Transmission Service per month.

AI summary The document outlines the Network Integration Transmission Service rates for 2026 and 2027, specifying costs of $319.10/MW per month for 2026 and $216.52/MW per month for 2027.

Nova Scotia Power Incorporated Page 16 of 23 Open Access Transmission Tariff 2026 Delivery Period Charge ($) Monthly $258.28 /MW of Reserved Capacity per month Weekly $59.60 /MW of Reserved Capacity per week Daily $8.49 /MW of Reserved Cap...

AI summary The document outlines the reserved capacity charges for the Open Access Transmission Tariff for the years 2026 and 2027, specifying different rates based on delivery periods such as monthly, weekly, and daily.

- (6) Discounts: Three principal requirements apply to discounts for transmission service as follows: - (i) any offer of a discount made by the Transmission Provider must be announced to all Eligible Customers solely by posting on the OASI...

AI summary The text outlines the requirements for discounts on transmission service, emphasizing that all offers, requests, and negotiated details must be posted on the OASIS. Discounts must be uniformly applied to all eligible customers on unconstrained transmission paths.

The Transmission Customer shall compensate the Transmission Provider for Non-firm Point-to-Point Transmission Service up to the sum of the applicable charges set forth below. 2026 Charge ($) Monthly delivery $5,333.01 /MW of Reserved Capac...

AI summary The Transmission Customer must compensate the Transmission Provider for Non-firm Point-to-Point Transmission Service based on specific charges for different delivery periods, including monthly, weekly, on-peak daily, off-peak daily, and on-peak hourly delivery rates.

Off-peak hourly delivery: the basic charge shall be that agreed upon by the Parties at the time this service is reserved and in no event shall exceed $7.31/MWh 2027 Charge ($) Monthly delivery $6,308.33 /MW of Reserved Capacity per month W...

AI summary The document outlines the pricing structure for various delivery services, specifying maximum charges for off-peak and on-peak hourly delivery, as well as monthly, weekly, and daily delivery rates based on reserved capacity.

SCHEDULE 10: NETWORK INTEGRATION TRANSMISSION SERVICE RATE (1) The rate charged for Network Integration Transmission Service is: For 2026: $4,888.13/MW-month For 2027: $5,658.78/MW-month based on the Transmission Customer's Net Non-coincid...

AI summary Schedule 10 outlines the Network Integration Transmission Service rate for 2026 and 2027, based on the Transmission Customer's Net Non-coincident Monthly Peak Demand. It also defines how transmission congestion charges are calculated using a formula involving redispatch costs and load factors.

CHARGES Domestic Service Customer Charge ($/month) Distribution Charge (¢/kWh) Minimum Monthly Charge ($/month) Effective January 1, 2026 20.24 3.031 20.24 Effective January 1, 2027 21.38 3.244 21.38 Small General Customer Charge ($/month)...

AI summary The text presents updated charges for different service categories, including Domestic Service, Small General, General, and Large General, with effective dates of January 1, 2026, and January 1, 2027. It includes customer charges, distribution charges, minimum monthly charges, and transformer ownership credits.

\ Note: for certainty, all capitalized terms shall, unless otherwise defined herein, have the meanings ascribed thereto in Distribution Tariff. Small Industrial Demand Charge ($/kVA) Minimum Monthly Charge ($/month) Transformer Ownership C...

AI summary The document outlines proposed changes to demand charges and minimum monthly charges for various customer categories in Nova Scotia, effective January 1, 2026, and 2027. Rates are adjusted for small, medium, large industrial, and unmetered customers, with transformer ownership credits applied where applicable. The note clarifies the application of demand charges based on historical demand data.

Page 5 of 13 D-4- C- J- Watta kWh per per mo onth ($) Other Rate Code Watts month 2026 2027 Otner 102 175 69 12.22 13.02 103 250 97 14.83 15.77 104 400 154 19.00 20.13 105 700 260 27.63 29.16 106 1,000 363 35.91 37.84 107 250 212 16.05 17....

AI summary The text provides tables with rate codes, wattage, energy consumption, and associated costs for different categories in 2026 and 2027. These tables outline rates for operating and maintenance, operating only, and other categories, showing variations in cost per month across different wattage levels.

(a) Operating, Maintenance, and Capital (full charge) Data Cada Data Cada Watta per mo onth ($) Othor Rate Code Watts kWh per month 2026 2027 Other 121 250 100 14.65 15.57 122 400 150 18.34 19.44 123 70 32 9.59 10.28 124 100 45 10.55 11.28...

AI summary The document presents tables outlining various rate codes, wattage levels, and associated costs for operating, maintenance, and capital charges in 2026 and 2027. These tables provide a breakdown of costs per month for different usage levels.

Page 9 of 13 D. C. L. W. H. kWh per per mon onth ($) Othor Rate Code Watts month 2026 2027 Other 321 250 100 7.20 7.53 322 70 32 2.30 2.41 323 100 45 3.24 3.39 324 150 65 4.68 4.89 326 400 150 10.79 11.29 327 500 183 13.17 13.78 328 1,000...

AI summary The text presents a table with rate codes, watts, and associated costs for different kilowatt-hour rates in 2026 and 2027. The table includes various rate codes and their corresponding costs per month. The section titled 'Metallic Additive' is mentioned but no further details are provided.

Page 10 of 13 Data Cada Watta kWh per per mo onth ($) Othor Rate Code Watts month 2026 2027 Other 530 4.6 3 0.11 0.12 Non-continuous 531 7.5 5 0.18 0.19 Continuous (9) Light Emitting Diode (LED) – Operating Only Data Cada V V-44- kWh per p...

AI summary The document presents rate codes and associated pricing for LED lighting under the 'Operating Only' category, detailing wattage, kWh per month, and corresponding costs for 2026 and 2027. These rates are part of a regulatory proceeding related to energy pricing and billing structures.

Page 11 of 13 D . G . TT 7 kWh per per me onth ($) Rate Code Watts month 2026 2027 Other 552 70 23 1.66 1.73 553 87 29 2.09 2.18 554 173 58 4.17 4.37 555 35 12 0.86 0.90 556 51 17 1.22 1.28 557 172 57 4.10 4.29 558 91 30 2.16 2.26 559 42 1...

AI summary The table presents rate codes with corresponding wattage, monthly usage, and associated costs for the years 2026 and 2027. It outlines the cost per kWh for various rate codes, providing a detailed breakdown of energy pricing structures.

Page 12 of 13 D 4 C 1 ode Watts kWh per per mo onth ($) Oil Rate Code month 1 - 2026 2027 589 48 16 1.15 1.20 590 90 30 2.16 2.26 591 240 80 5.76 6.02 592 135 45 3.24 3.39 593 30 10 0.72 0.75 594 133 44 3.17 3.31 595 55 18 1.30 1.35 596 52...

AI summary The text presents tables detailing rate codes and associated costs for different wattage levels under LED operating, maintenance, and capital charges for the years 2026 and 2027. These tables outline specific financial metrics related to energy usage and associated fees.

RATE FOR 2025 Tariff Storm Riders in cents per kWh1 Domestic Service, Domestic Service Time-of-Day, Domestic Service Time-of-Use, Domestic Service Critical Peak Pricing 0.374 Small General, Small General Time of Use, Small General Critical...

AI summary The document outlines the storm riders for 2025 and 2026, showing varying rates per kWh across different tariff categories. Notably, the rate for Domestic Service Critical Peak Pricing drops to 0.000 in 2026, while other categories maintain or adjust their rates.

Applicable Tariff PCR (cents per kWh) BA (cents per kWh) DCRR (cents per kWh) Domestic Service, Domestic Service Time-of-Day, Domestic Service Time-of-Use, Domestic Service Critical Peak Pricing 0.657 -0.024 0.633 Small General, Small Gene...

AI summary The document outlines various applicable tariffs with corresponding Program Cost Recovery (PCR), Balance Adjustment (BA), and Demand Side Management Cost Recovery Rider (DCRR) rates for different service categories. It also references the Approved DSM Term and provides an example of how BA2 is calculated and applied over the remainder of the DSM Plan period.

CUSTOMER CHARGE per month Effective February 2, 2023 $19.17 Effective January 1, 2024 $19.17 Effective January 1, 2026 $20.24 Effective January 1, 2027 $21.38 ENERGY CHARGE cents per kilowatt-hour Effective February 2, 2023 15.744 Effectiv...

AI summary The document outlines customer and energy charges effective from various dates starting in 2023, with incremental increases over time. It also mentions the Fuel Adjustment Mechanism (FAM), which is a method used to adjust rates based on fuel costs.

Rate Codes 02, 03, 04 per month Effective January 1, 2024 $19.17 Effective January 1, 2026 $20.24 Effective January 1, 2027 $21.38 AVAILABILITY

AI summary The document provides rate codes 02, 03, and 04 with their respective monthly effective dates and amounts, showing an increase over time from January 1, 2024, to January 1, 2027.

CUSTOMER CHARGE per month Effective February 2, 2023 $19.17 Effective January 1, 2024 $19.17 Effective January 1, 2026 $20.24 Effective January 1, 2027 $21.38 _____

AI summary The document outlines changes to the customer charge effective from February 2, 2023, through January 1, 2027, showing an increase from $19.17 to $21.38 per month over time.

Effective: February 2, 2023 Annliachla in Dasamhan cents per ki lowatt-hour Applicable in December, January, and February 7:00 AM to 12:00 PM 12:00 PM to 4:00 PM 4:00 PM to 11:00 PM 11:00 PM to 7:00 AM Effective February 2, 2023 21.377 16....

AI summary The document outlines electricity rate schedules effective from February 2, 2023, with different rates for various time periods throughout the day. The rates are set to change on January 1, 2024, 2026, and 2027, with the 2026 rates highlighted. These rates apply to weekdays, with special billing for weekends and statutory holidays.

Rate Code 10 per month Effective February 2, 2023 $21.28 Effective January 1, 2024 $21.28 Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 AVAILABILITY

AI summary Rate Code 10 outlines monthly charges effective from February 2023 through January 2027, with incremental increases over time.

Rate Code 72 per month Effective February 2, 2023 $21.28 Effective January 1, 2024 $21.28 Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 AVAILABILITY CONDITIONS

AI summary Rate Code 72 outlines monthly charges effective from February 2023 to January 2027, showing incremental increases over time. The table provides specific rates for different effective dates.

The maximum charge per kWh will be that for a billing load factor of 10% except that the minimum monthly bill shall not be less than the rates in the table below. per month Effective February 2, 2023 $21.28 Effective January 1, 2024 $21.28...

AI summary The document outlines the maximum charge per kWh based on a billing load factor of 10%, with a minimum monthly bill requirement as specified in the table. The rates are set for specific effective dates from 2023 to 2027.

ENERGY CHARGE cents per kilowatt-hour During a Critical Peak Event For the first 200 kilowatt- hours per month per maximum demand after Critical Peak Event usage For all additional kilowatt-hours Effective February 2, 2023 151.171 10.480 8...

AI summary The document outlines the energy charge rates for different periods, including a Critical Peak Event rate structure. The rates are effective from February 2, 2023, through January 1, 2027, with changes in the rates for different tiers of kilowatt-hour usage.

MAXIMUM PER KWH CHARGE/MINIMUM BILL The maximum charge per kWh, applying to that portion of the bill which is not concerned with determination of the cost of the Critical Peak Events, will be that for a billing load factor of I 0% except t...

AI summary The text outlines the maximum charge per kWh for billing purposes, excluding Critical Peak Events, and specifies that the minimum monthly bill cannot be less than a defined amount.

ENERGY CHARGE cents per kilowatt-hour Effective February 2, 2023 9.850 Effective January 1, 2024 10.949 Effective January 1, 2026 11.239 Effective January 1, 2027 10.602 FUEL ADJUSTMENT MECHANISM (FAM)

AI summary The document outlines the energy charge rates effective from February 2, 2023, to January 1, 2027, and introduces the Fuel Adjustment Mechanism (FAM). The rates show a gradual increase over time, with a slight decrease in 2027. The FAM is mentioned as a mechanism related to fuel costs.

The maximum charge per kWh will be that for a billing load factor of 10% except that the minimum monthly bill shall not be less than as follows. per month Effective February 2, 2023 $21.28 Effective January 1, 2024 $21.28 Effective January...

AI summary The text outlines the maximum charge per kWh based on a billing load factor of 10%, with specific minimum monthly bill amounts set for different effective dates, starting from February 2, 2023, up to January 1, 2027.

For customers connected at distribution level, the following charge also applies, subject to the same provisions as the Demand Charge section above. per month Effective February 2, 2023 $1.632 Effective January 1, 2024 $1.632 Effective Jan...

AI summary A new charge applies to customers connected at the distribution level, with rates increasing from $1.632 in 2023 to $2.527 in 2027. Additionally, a 32-cent reduction in demand charge per kilovolt ampere is available for customers owning the transformer.

The minimum monthly charge shall be the greater of the demand charge or the amounts in the table below. per month Effective February 2, 2023 $21.28 Effective January 1, 2024 $21.28 Effective January 1, 2026 $22.16 Effective January 1, 2027...

AI summary The text outlines the minimum monthly charge, which is determined as the greater of the demand charge or the values listed in the table, with amounts increasing over time starting from February 2, 2023, up to January 1, 2027.

Page 2 of 20 D-4- C- d- Watta kWh per per mo nth ($) Othor Rate Code Rate Code Watts 2026 2027 Other 001 300 and less 97 25.14 27.16 002 Greater than 300 154 36.27 39.16 (b) Operating Only Rate Code Watts kWh per per mo onth ($) Other mont...

AI summary The text presents a table with rate codes and associated costs for different wattage levels in 2026 and 2027, as well as historical data from previous years. The tables are part of a regulatory proceeding document discussing electricity rates and pricing structures.

Page 3 of 20 D-4- C- d- Watta kWh per per month ($) Othor Rate Code Watts month 2026 2027 Other 103 250 97 26.58 28.68 104 400 154 37.65 40.62 105 700 260 59.11 63.76 106 1,000 363 79.87 86.14 107 250 212 41.76 44.98 Continuous operation (...

AI summary The document presents a table of rate codes with corresponding wattage, kilowatt-hours per month, and associated costs for different years. It includes multiple sections, such as Operating and Maintenance Only and Operating Only, with varying rates and adjustments across different time periods.

Page 4 of 20 D-4- C- J- Watta kWh per per month ($) Othor Rate Code Watts month 2023 2024 Other 302 175 69 12.13 12.15 303 250 97 17.05 17.08 304 400 154 27.07 27.12 305 700 260 45.70 45.79 306 1,000 363 63.80 63.93 Rate Code Wetts kWh per...

AI summary The text presents tables with rate codes, wattage, kWh per month, and corresponding costs for different years, including 2023, 2024, 2026, and 2027. The tables appear to outline energy rate structures, with some values marked for deletion or underlining, suggesting revisions or updates in the rate plan.

Page 7 of 20 D-4- C- J- Dulh I aveth Number of kWh per per mo onth ($) Othor Rate Code Bulb Length Bulbs per Unit month 2023 2024 Other 311 48 4 166 29.18 29.23 312 72 2 116 20.39 20.43 313 72 4 222 39.02 39.09 314 96 1 47 8.26 8.28 315 72...

AI summary The text presents a table with rate codes, bulb lengths, number of bulbs per unit, and associated costs per month for different years, including 2023, 2024, 2026, and 2027, with some values deleted or highlighted. The table includes rate codes such as 310, 311, 312, 313, 314, 315, and 350, and discusses energy consumption and associated costs.

Page 8 of 20 Data Cada Watts kWh per per mo onth ($) Othor Rate Code Watts month 2026 2027 Other 132 90 45 20.77 22.22 (b) Operating and Maintenance Only Rate Code Wetts kWh-per per mo onth ($) Other Rate Coue te Code Watts mo month 2023 2...

AI summary The text contains tables with rate codes, watts, kWh per month, and associated costs for different years, including 2023, 2024, 2026, and 2027, as well as other categories. The data appears to be related to utility pricing and cost structures.

Page 9 of 20 Data Cada Watts kWh per per mo onth ($) Other Rate Code Wat - vvatts month 2023 2024 Other 126 100 99 20.39 20.43 Continuous operation Data Cada Watta kWh per per month ($) Othor Rate Code Watts watts month 2026 2027 Other 121...

AI summary The text presents tables with rate codes, watts, kWh usage, and associated costs for different years. These tables appear to be part of a regulatory proceeding discussing electricity rates and pricing structures, including operating and maintenance costs for various wattage tiers.

Rate Code 41

AI summary The text refers to 'Rate Code 41', which is likely a classification or identifier used in the regulatory proceeding related to rates and money.

Page 11 of 20 D-4- C-1- Watta kWh per per month ($) Od Rate Code Watts month 2023 2024 Other 143 150 67 19.32 19.34 144 100 50 16.33 16.35 Data Cada Watta kWh per per n onth ($) Othor Rate Code Watts month 2026 2027 Other 140 400 150 37.65...

AI summary The document contains tables outlining rate codes, wattage, and associated costs per month for different categories of energy usage, with specific values for the years 2023, 2024, 2026, and 2027. These tables provide a detailed breakdown of energy rates for various usage levels.

Page 12 of 20 D-4- C- J- Watta kWh per per mo onth ($) Othor Rate Code Watts month 2023 2024 Other 530 4.6 3 0.53 0.53 Non-continuous 531 7.5 5 0.88 0.88 Continuous Data Cada Watta kWh per per mo onth ($) Othor Rate Code Watts month 2026 2...

AI summary The text presents a table of rate codes and associated costs for different wattage levels under the Light Emitting Diode (LED) – Operating Only category, including rates for the years 2023, 2024, and other unspecified years.

Page 13 of 20 kWh per per m e onth ($) Rate Code Watts month 2023 202 4 Other 553 87 29 5.10 5.11 554 173 58 10.19 10.21 555 35 12 2.11 2.11 556 51 17 2.99 2.99 557 172 57 10.02 10.04 558 91 30 5.27 5.28 559 42 14 2.46 2.47 560 13 4 0.70 0...

AI summary The text presents a table outlining various rate codes with corresponding wattage, kilowatt-hour usage per month, and associated costs for different years. The table includes deleted entries and rate adjustments, indicating a regulatory process involving electricity pricing structures.

Rate Code 41

AI summary The text refers to 'Rate Code 41,' which appears to be a classification or identifier used in the context of a regulatory proceeding, likely related to utility rates or services.

Page 14 of 20 Data Cada Watta kWh per per mo onth ($) Othor Rate Code Watts month 2023 202 4 - Other 590 90 30 5.27 5.28 591 240 80 14.06 14.09 592 135 45 7.91 7.92 593 30 10 1.76 1.76 594 133 44 7.73 7.75 595 55 18 3.16 3.17 596 52 17 2.9...

AI summary The text presents tables with rate codes, wattage, kWh per month, and associated costs for different years, highlighting changes in pricing over time. The tables appear to be part of a regulatory proceeding related to electricity rates and their evolution from 2023 to 2027.

Rate Code 41

AI summary The text refers to 'Rate Code 41', which likely pertains to a specific rate classification or tariff structure used in Nova Scotia's regulatory proceedings. However, no further details or context are provided in the text.

Page 15 of 20 D ( C ) kWh per per mo onth ($) 0.1 Rate Code Watts month 2026 2027 Other 550 200 67 12.93 13.96 551 60 20 3.86 4.17 552 70 23 4.44 4.79 553 87 29 5.60 6.04 554 173 58 11.20 12.08 555 35 12 2.32 2.50 556 51 17 3.28 3.54 557 1...

AI summary This page presents a table of rate codes with corresponding wattage, kilowatt-hours per month, and associated costs for different years, including 2026, 2027, and other unspecified years. The table outlines varying rates for different usage levels, indicating potential changes in electricity pricing over time.

Rate Code 41

AI summary The text references 'Rate Code 41', which likely pertains to a specific rate or classification within a regulatory proceeding. However, no further details or context are provided in the text.

Page 16 of 20 D. C. I 11 7 44 kWh per per mo onth ($) 041 Rate Code Watts month 2026 2027 Other 586 108 36 6.95 7.50 587 158 53 10.23 11.04 589 48 16 3.09 3.33 590 90 30 5.79 6.25 591 240 80 15.44 16.67 592 135 45 8.69 9.38 593 30 10 1.93...

AI summary The text presents rate codes and associated costs for different power consumption levels, including LED operating, maintenance, and capital charges. The data includes rates for 2026 and 2027, with some values deleted or highlighted, indicating potential changes or updates to the pricing structure.

Page 17 of 20 D-4- C- d- Watta kWh per per mo onth ($) Othor Rate Code Watts month 2026 2027 Other 624 50 17 12.18 12.98 625 72 24 13.53 14.44 626 100 33 15.27 16.32 627 200 67 21.83 23.40 (11) Light Emitting Diode (LED) – Operating, Maint...

AI summary The document contains tables with rate codes, wattage, and associated costs for different lighting products, including LED and miscellaneous lighting, with specific values for 2026 and 2027.

Energy Charge cents per kilo watt-hour for the first 200 kilowatt-hours per month per kilowatt of maximum demand for all additional kilowatt hours Effective February 2, 2023 15.774 11.042 Effective January 1, 2024 15.809 11.077 Effective J...

AI summary The document presents energy charge rates effective from February 2023 to January 2027, showing increasing rates for both the first 200 kilowatt-hours and additional kilowatt-hours. The rates are structured in a table with specific values for different periods.

The maximum charge per kWh will be that for a billing load factor of 10% except that the minimum monthly bill for the electric power and energy portion of the Miscellaneous Lighting Rate shall be $ as follows per month if such unmetered se...

AI summary The text outlines a regulation for the Miscellaneous Lighting Rate, specifying the maximum charge per kWh based on a 10% billing load factor and setting a minimum monthly bill for unmetered service billed separately.

per month Effective February 2, 2023 $21.28 Effective January 1, 2024 $21.28 Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 Capital Charge (if applicable)

AI summary The document outlines monthly rates effective from February 2, 2023, through January 1, 2027, showing an increase from $21.28 to $23.07. It also includes a section on Capital Charge, though no specific details are provided.

(C) MISCELLANEOUS SMALL LOADS per month per kilowatt of connected load Effective February 2, 2023 12.314 Effective January 1, 2024 12.314 Effective January 1, 2026 13.499 Effective January 1, 2027 14.568 Energy Charge cents per kilowatt-ho...

AI summary The document outlines the rates for miscellaneous small loads, including monthly charges per kilowatt of connected load and energy charges per kilowatt-hour, with adjustments effective from various dates starting in 2023 through 2027.

per month Effective February 2, 2023 $21.28 Effective January 1, 2024 $21.28 Effective January 1, 2026 $22.16 Effective January 1, 2027 $23.07 Availability

AI summary The document presents a table showing the monthly rates effective on different dates, with changes highlighted. The rate increases from $21.28 in 2023 to $23.07 in 2027, indicating a gradual increase over time.

Page 4 of 4 Effective upon the date of the Board's decision ecision_ Rate Class Actual Adjustment (AA) in cents per kWh Balance Adjustment (BA 1) in cents per kWh Balance Adjustment (BA-2) in cents per kWh FAM AA/BA Combined\nin cents per...

AI summary The document presents adjustments for different rate classes, showing Balance Adjustments (BA) in cents per kWh for various categories, with the FAM AA/BA Combined value indicated for each. The Municipal and Outdoor Recreational Lighting categories have highlighted values.

Nova Scotia Power Incorporated Page 7 of 23 Open Access Transmission Tariff Monthly $219.03 /MW of Reserved Capacity per month Weekly $50.55 /MW of Reserved Capacity per week Daily $7.20 /MW of Reserved Capacity per day 2027 Delivery Perio...

AI summary The document outlines the Open Access Transmission Tariff (OATT) for Nova Scotia Power Incorporated, detailing reserved capacity charges for different time periods, including monthly, weekly, and daily rates, as well as yearly rates for 2027. It also references the Regulation (Network Integration Transmission Service).

The minimum period for which this service is available from the Transmission Provider is one day. 2023 Delivery Period Charge ($) Yearly: One twelfth of $9,489.96 /MW of Reserved Capacity per year Monthly $790.83 /MW of Reserved Capacity p...

AI summary The text outlines the pricing structure for reserved capacity services provided by the Transmission Provider, detailing charges for different delivery periods (yearly, monthly, weekly, and daily) in both 2023 and 2024.

Nova Scotia Power Incorporated Page 8 of 23 Open Access Transmission Tariff 2026 Delivery Period Charge ($) Yearly: One twelfth of $10,910.36 /MW of Reserved Capacity per year Monthly $909.20 /MW of Reserved Capacity per month Weekly $209....

AI summary The document outlines reserved capacity charges for the Open Access Transmission Tariff (OATT) for the years 2026 and 2027, detailing charges per delivery period (yearly, monthly, weekly, daily) in dollars per megawatt of reserved capacity.

Nova Scotia Power Incorporated Page 15 of 23 Open Access Transmission Tariff Weekly $122.21 /MW of Reserved Capacity per week Daily $17.41 /MW of Reserved Capacity per day 2027 Delivery Period Charge ($) Yearly: One twelfth of $6,751.42 /M...

AI summary The document outlines the Open Access Transmission Tariff (OATT) rates for reserved capacity, including weekly, daily, monthly, and yearly charges. It also references the Network Integration Transmission Service, which is part of the transmission service framework.

The Transmission Customer shall compensate the Transmission Provider each month for Reserved Capacity at the sum of the applicable charges set forth below. 2023 Charge ($) Yearly delivery: One twelfth of the demand charge of $60,953.64 /MW...

AI summary The Transmission Customer is required to compensate the Transmission Provider for Reserved Capacity at specified charges, which vary by delivery period and year, with rates increasing over time from 2023 to 2027.

Nova Scotia Power Incorporated Page 19 of 23 Open Access Transmission Tariff 2027 Charge ($) Off-peak daily delivery $207.40 /MW of Reserved Capacity per day The total demand charge in any week, pursuant to a reservation for Daily delivery...

AI summary The document outlines the off-peak daily delivery charge of $207.40 per MW of Reserved Capacity per day under the Open Access Transmission Tariff for 2027. It also specifies that the total demand charge for a week cannot exceed the rate multiplied by the highest Reserved Capacity in any day of that week.

Nova Scotia Power Incorporated Page 21 of 23 Open Access Transmission Tariff 2027 Charge ($) Monthly delivery $6,308.33 /MW of Reserved Capacity per month Weekly delivery $1,455.77 /MW of Reserved Capacity per week On-peak daily delivery $...

AI summary The document outlines the reserved capacity charges under the Open Access Transmission Tariff for Nova Scotia Power Incorporated, specifying different rates for monthly, weekly, on-peak daily, and off-peak daily delivery, along with limitations on demand charges.

Page 6 of 21 D ( C I Watta kWh per per month ($) Othor Rate Code Watts month 2023 2024 Other 002 Greater than 300 154 11.18 11.59 1 3371 per month ($) Data Cada Watts kWh per per mo iitii ($) Othor Rate Code Watts month month 2026 2027 Oth...

AI summary The text contains tables with rate codes, wattage levels, and associated costs per month for different energy usage categories. The data appears to be related to electricity rate structures, including historical and projected rates for various time periods.

Page 7 of 21 D-4- C- J- Watta kWh per per mo onth ($) Other Rate Code Watts month 2026 2027 Other 100 100 43 10.53 11.27 101 125 52 11.42 12.18 102 175 69 12.22 13.02 103 250 97 14.83 15.77 104 400 154 19.00 20.13 105 700 260 27.63 29.16 1...

AI summary The text presents tables outlining rate codes, wattage, kilowatt-hour consumption, and associated costs for different periods, including 2026 and 2027. These tables appear to be part of a regulatory proceeding related to energy pricing and billing structures.

Page 9 of 21 Data Cada Dulh I angth Number of kWh per per mo onth ($) Other Other Rate Code Bulb Length Bulbs per Unit month 2026 2027 Other 110 24 2 30 10.36 11.05 111 48 2 85 14.58 15.47 112 72 2 116 17.29 18.30 113 72 4 222 26.09 27.51...

AI summary The text presents rate codes and associated energy usage data for different bulb configurations, including kWh per month and associated costs for various years. It includes tables with data for 2023, 2026, 2027, and other years, highlighting changes in energy usage and costs over time.

(a) Continuous Burning - Operating Only Data Cada Dulh I angth Number of kWh per per m e onth ($) - Other Rate Code Bulb Length Bulbs per Unit month 2023 2024 Other 117 72 4 486 9.32 9.43 118 24 2 66 1.27 1.28 119 48 4 364 6.98 7.06 120 96...

AI summary The text presents tables with data on energy consumption rates for different bulb types and configurations, including continuous burning and photocell operations. The data includes rates, bulb lengths, number of bulbs per unit, and kWh per month for various years, indicating changes in energy consumption costs over time.

Page 14 of 21 Rate Code Watts kWh per per month ($) Othor Rate Code -watts month 2023 2024 Other 329 1500 500 21.01 21.25 321 250 100 4.20 4.25 Data Cada Wetts kWh per per mo onth ($) Othor Rate Code Watts month 2026 2027 Other Other 321 2...

AI summary The document contains a table with rate codes, watts, kWh per month, and associated costs for different years, as well as a section titled 'Metallic Additive' which is not elaborated upon.

(9) Light Emitting Diode (LED) – Operating Only Data Cada Watta kWh per per me onth ($) Othor Rate Code Watts month 2023 2024 Other 532 44 15 0.63 0.64 533 66 22 0.92 0.93 534 88 29 1.22 1.23 535 92 31 1.30 1.32 536 105 35 1.47 1.49 537 17...

AI summary The document presents a table with rate codes, wattage, and kilowatt-hour (kWh) costs for LED lighting in Nova Scotia for the years 2023 and 2024. The table includes various rate codes and associated costs, with some entries marked as deleted.

Page 17 of 21 kWh per per m onth ($) Rate Code Watts month 2023 2024 Other 561 8 3 0.13 0.13 562 150 50 2.10 2.12 563 60 20 0.84 0.85 564 28 9 0.38 0.38 565 86 29 1.22 1.23 567 100 33 1.39 1.40 569 143 48 2.02 2.04 570 200 67 2.82 2.85 572...

AI summary The document presents a table of rate codes with corresponding wattage, monthly usage, and associated costs for the years 2023 and 2024. The table includes various rate codes with different wattage and cost structures, indicating changes in pricing over time.

Page 18 of 21 D-4- C- d- Watta kWh per per mo enth ($) Other Rate Code Watts month - Other 598 68 23 0.97 0.98 599 117 39 1.64 1.66 D. (C. I kWh per per mo onth ($) 0.1 Rate Code Watts month 2026 2027 Other 532 44 15 1.08 1.13 533 66 22 1....

AI summary The text presents a table containing rate codes, wattage, and associated costs for different energy consumption levels, likely related to electricity billing rates. The table includes data for various years and rate codes, indicating potential adjustments or changes in pricing structures.

Page 19 of 21 D . C . kWh per per mo onth ($) 0.1 Rate Code Watts month 2026 2027 Other Other 558 91 30 2.16 2.26 559 42 14 1.01 1.05 560 13 4 0.29 0.30 561 8 3 0.22 0.23 562 150 50 3.60 3.76 563 60 20 1.44 1.51 564 28 9 0.65 0.68 565 86 2...

AI summary The table on page 19 of 21 presents various rate codes with corresponding wattage, monthly usage, and associated costs for the years 2026 and 2027. It outlines the financial implications of different energy consumption levels and provides a detailed breakdown of the associated charges.

NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL PR-02 1 Requirement: 2 3 Cost Support for Proposed Regulations 4 5 Submission: 6 7 Cost support for the proposed Regulations is provided in Attachments as follows: 8 9 Attachment...

AI summary NS Power has submitted cost support for proposed regulations in its 2026-2027 General Rate Application, with attachments detailing AMI Opt-Out Development and Miscellaneous Charges.

Baseline Data NS Power Customers Customers Meter Reads Opt-out Customers Bi-monthly read customers 534,459 Bi-Monthly Bi-monthly read customers 3% 18,457 18,457 18,457 13,500 10,727 Monthly read customers 20,001 Monthly Monthly read custom...

AI summary The chunk provides baseline data on NS Power customers, including read frequencies, opt-out rates, travel times for meter readers, and contact center metrics. It outlines customer distribution, meter read schedules, and operational costs associated with customer service and meter reading activities.

In these regulations unless the context requires otherwise: "As Found Meter Test" "As Found Meter Test" is a test on the meter removed from a premise and tested at the Company's Measurement Canada certified test center in the condition in...

AI summary The text defines key terms in the regulations, including 'As Found Meter Test,' 'Board,' 'Company,' 'Customer,' and 'Demand.' These definitions establish the context for regulatory compliance and measurement standards in Nova Scotia's energy sector.

Interpretation and Definitions Page 5 of 6 "Public Road" "public road" includes any rural road listed and maintained by the Department of Transportation or any road maintained by a municipality; "Retail Supplier" "Retail Supplier" has the...

AI summary The document provides definitions for various terms used in the regulatory context, including 'Public Road', 'Retail Supplier', 'RtR Customer', 'Residential Customer', 'Secondary metering', 'Service line allowance', 'Temporary electric service', and 'True Meter Read'. These definitions are part of the Interpretation and Definitions section of the proceeding.

Regulation 7.1 Schedule of Charges Page 1 of 3 The following charges shall apply: - (a) Connection or reconnection of electric service, to any premises during the Company's normal working hours. - i. Customers equipped with a remote connec...

AI summary The document outlines the schedule of charges for connection and reconnection of electric service, differentiating between customers equipped with remote connect-enabled meters and those who are not, with varying fees for services during and outside the Company's normal working hours.

- i. Customers equipped with a remote connect-enabled meter 2026 2027 $9.00 $9.00 Schedule of Charges Page 2 of 3 ii. Customers not equipped with a remote connect-enabled meter 2026 $55.00 2027 $57.00 (f) Returned Cheque Charge 2026 $23.00...

AI summary The document outlines various service charges and fees for customers equipped with and without remote connect-enabled meters, including returned cheque charges, interest on overdue accounts, and installation fees for recording equipment. It also includes load research charges and service charges for different customer categories.

2026-2027 GRA Direct Evidence Appendix 1A Page 2 of 7 REDACTED (CONFIDENTIAL INFORMATION REMOVED) OP-01 NS Power / Emera Regulated Annual Reports Attachment 1 – NS Power 2024 Q3 MD&A Attachment 2 – NS Power 2024 Financial Statements Attach...

AI summary This document contains direct evidence from the 2026-2027 GRA proceeding, including NS Power and Emera's annual reports, financial statements, and proposed tariffs with various attachments related to domestic, general, and industrial service tariffs, as well as the Fuel Adjustment Mechanism and Storm Cost Recovery Rider.

Status Summary of 2023-2024 GRA Directives Directive Status m. Provide a more fulsome explanation, no later than Complete the next GRA, to justify the position to exclude CT units from costing of 30-minute supplemental SR-01 Attachment 01(...

AI summary The 2023-2024 GRA Directives include two directives: one requiring a detailed explanation for excluding CT units from 30-minute supplemental reserve costing for CBAS calculations, and another requiring an analysis of the current WACC/AFUDC methodology and potential alternatives to be included in the GRA process and 2026 WACC and AFUDC Rates Application.

2026-2027 GRA Direct Evidence Appendix 3B Page 2 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Revisio n no. Effective Date Changes 0 April 8,2021 Document developed 1 April 9, 2025 Updated to reference existing Asset Management System...

AI summary The document is an appendix to a General Rate Application (GRA) for the 2026-2027 period, containing revisions and updates to procedures related to the Asset Management System. It includes a revision history with dates and changes made.

2026-2027 GRA Direct Evidence Appendix 3C Page 2 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Revision no. Effective Date Changes 0 Jan 5, 2022 1 August 8, 2024 Updated formatting of mitigation plan. Added additional mitigation detail...

AI summary This document shows the revision history of a mitigation plan related to the 2026-2027 GRA Direct Evidence Appendix 3C. Revisions were made on January 5, 2022, August 8, 2024, and April 4, 2025, with updates including formatting changes and additional mitigation details.

Table 2 . Number of Days Above an FWI of 10 During Wildfire Season Month Present Day 2030s 2050s March 0.18 0.15 0.20 April 1.32 1.76 1.82 May 4.16 4.30 4.30 June 7.37 7.52 7.52 July 9.71 9.89 9.99 August 9.16 9.54 9.54 September 6.31 6.71...

AI summary Table 2 presents the number of days above an FWI of 10 during wildfire season for different months and time periods, including Present Day, 2030s, and 2050s. This data is part of a GRA Direct Evidence Appendix 3C, which contains confidential information.

1 1.2 FUELS FORECAST 2 3 1.2.1 GRA Period Snapshot

AI summary The section titled '1.2 FUELS FORECAST' includes a table labeled '2' with no content and a subsection titled '1.2.1 GRA Period Snapshot' which appears to be an overview or summary of a General Rate Application period.

Costs of this type are normally recorded in the following accounts in NS Power's Chart of Accounts: 502050 REG FUEL GAS CONSUMED 502160 REG FUEL GAS SOLD 502100 REG FUEL GAS CONSUMED FX 502200 REG NATURAL GAS PIPELINE TOLL 502150 REG FUEL...

AI summary The text outlines the specific accounts in NS Power's Chart of Accounts where certain fuel gas-related costs are recorded, including consumption, sales, derivatives, and pipeline tolls. It is part of a larger document, likely related to regulatory filings or financial reporting.

1.9.2 Pension Costs Total pension expense in OM&G is reported in two areas. The payroll matching costs for defined benefit and defined contribution expense are included in the fringe benefit portion of the Company's labour expense. The cur...

AI summary The document discusses pension costs in OM&G, noting that total pension expense is reported in two areas: payroll matching costs included in labour expense and the current-service portion of defined benefit pension expense, which is reported separately and determined by NS Power's actuary. Forecasts for 2024 and the 2026-2027 test period are referenced.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 7B Page 1 of 2 2024 Compliance 2024 Compliance Restated Inspectio Engageme union SMOC ( Duality Control Solutions PETC Planning Center ng ED Scheduli Teleco...

AI summary This table presents compliance data for various departments and initiatives under the 2026-2027 GRA Direct Evidence Appendix 7B. It includes figures related to inspections, engagements, and other activities in 2024 and their restated values.

NOVA SCOTIA POWER INC. REGULATED OPERATING COSTS Appendix 7B - 2024 GRA Compliance Forecast - OM&G Restatement (in Thousands of $) Regional Operations AS FILED 2024 New Organization Enterprise Asset Management and Project Implementation AS...

AI summary The document outlines Nova Scotia Power Inc.'s regulated operating costs for 2024, including details on various operational and administrative expenses such as meter reading, line inspection, and storm restoration, as well as organizational restructuring and cost allocations.

(in Thousands of $) 530050 Regular Labour 530200 Overtime Labour 530250 Sales Comm.Salaries 530300 Term Labour 530350 Loaned Op.Labour 530360 Borrowed Operating Labour 530400 Loaned Cap. Labour 530550 Labour Clearing Total Labour 530900 Of...

AI summary The document presents a financial table outlining labour and non-labour costs across various categories for 2024 Actual, 2025 Budget, 2026 Forecast, and 2027 Forecast. It includes details on regular labour, overtime labour, office supplies, travel expenses, materials, contracts, and other operational costs, with figures showing changes over time.

br>484 494 (924) (1,290) Total Non-Labour (in Thousands of $) 2024 2026 Forecast 2026 Forecast 2026 Forecast 2027 Forecast

AI summary The text presents a table with financial data, including total non-labour costs in thousands of dollars for the years 2024, 2026, and 2027. It includes figures such as 484, 494, (924), and (1,290), indicating potential expenses or losses.

Wind, Hydro, and Solar Energy (in Thousands of $) 2024 2026 Forecast vs 2024 2026 Forecast vs 2024 2026 Forecast vs 2025 2027 Forecast vs 2026 533800 Fleet Repairs - 534 408 416 408 (126) 8 533850 Non Reg.Cost Recovery - - - - - - - 534500...

AI summary The text presents a detailed financial table outlining various costs related to wind, hydro, and solar energy in Nova Scotia for the years 2024, 2026, and 2027. It includes line items such as fleet repairs, training and development, personal equipment, and tax assessments, with comparisons between forecasted and actual figures.

Energy Delivery Services 2024 2026 Forecast 2026 Forecast 2026 Forecast 2027 Forecast Compliance Restated 2024 Actual 2026 Forecast 2027 Forecast vs 2024 Compliance vs 2024 Actuals vs 2025 Budget vs 2026 Forecast 530050 Regular Labour 10,9...

AI summary The document presents a table comparing labour and operational expenses for Energy Delivery Services in Nova Scotia across multiple years, including compliance restated, actuals, and forecasts for 2024, 2026, and 2027. It details various categories such as regular labour, overtime, term labour, office supplies, travel expenses, materials, and contracts.

Reliability Implementation 2024 2026 Forecast 2026 Forecast 2026 Forecast 2027 Forecast Compliance Restated 2024 Actual 2025 Budget 2026 Forecast 2027 Forecast vs 2024 Compliance vs 2024 Actuals vs 2025 Budget vs 2026 Forecast 530050 Regul...

AI summary The table presents labor and operational costs for 2024 and forecasts for 2026 and 2027, highlighting compliance restated figures and variations against actuals and budgets. It includes categories like regular labor, overtime, sales commissions, and office supplies, with specific figures and comparisons.

Storm /in The nds ۰f ¢ > Consulting increased as 2026 GRA forecast is based on normalized 5 year (2020-2024) average actual storm costs. 157 > Advertising increased as 2026 GRA forecast is based on normalized 5 year (2020-2024) average act...

AI summary The text discusses the 2026 GRA forecast based on a normalized 5-year average of actual storm costs from 2020 to 2024, leading to changes in various financial categories such as consulting, advertising, and labor.

Administration 530050 Regular Labour 530200 Overtime Labour Compliance Restated 2024 Actual vs 2024 vs 2024 vs 2025 vs 2026 2025 Budget 2026 Forecast 2027 Forecast Compliance Actuals Budget Forecast 1,077 1,617 1,545 1,524 468 (72) (21) 30...

AI summary The document presents a detailed breakdown of labor and operational expenses related to compliance, restated figures, and forecasts for the years 2024, 2025, and 2026. It includes various categories such as regular labor, overtime labor, sales commissions, office supplies, travel expenses, and other operational costs.

Customer Solutions 2024 Compliance 2026 Forecast vs 2024 2026 Forecast vs 2024 2026 Forecast vs 2025 2027 Forecast vs 2026 Restated 2024 Actual 2025 Budget 2026 Forecast 2027 Forecast Compliance Actuals Budget Forecast 530050 Regular Labou...

AI summary The table presents labor and operational costs for Customer Solutions under 2024 Compliance and 2026 Forecast, highlighting variations in regular labour, overtime, sales commissions, and other expenses across different years and budgets.

REDACTED 2026-2027 GRA Direct Evidence Appendix 7E Page 2 of 3 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Section 3 of the Nova Scotia Power Incorporated Regulations (Regulations) provides the following with respect to the compensation of...

AI summary Section 3 of the Nova Scotia Power Incorporated Regulations outlines the maximum remuneration that can be recovered from rates for NS Power executives, including salary and additional benefits. The compensation is based on a pay plan with specific compa-ratio limits for the CEO and other executives.

Figure 1. Deputy Minister Pay Plan Maximum Recoverable Compensation in Rates April 2023 - March 2024 April 2024 - March 2025 2024 $277,817.65 $287,582.88 CEO Base $313,655.73 $305,599.42 $316,341.17 CEO Fringe $40,775.24 CEO Total $354,430...

AI summary The text presents a table outlining the Deputy Minister Pay Plan and Maximum Recoverable Compensation in Rates for specific periods, including details for the CEO and other executives. The document is part of a redacted appendix related to a 2026-2027 GRA proceeding and contains confidential information.

2. Executive Compensation The information required under Section 64B(2)(b) is set out in Partially Confidential Figure 2 below. As required under the Act, NS Power has excluded from rates any bonus or incentive compensation, and any other...

AI summary This section discusses executive compensation for NS Power, noting that only recoverable portions of base pay, benefits, and pension contributions are included in rates, as required by the Act. Bonus and incentive compensation are excluded from rates.

Partially Confidential Figure 2: NS Power Executive Employees Partially Confidential Figure 2: Executive Position NS Power Executive Employees Employee Name 2024 Compensation included in Rates President & CEO NSP Peter Gregg Chief Operatin...

AI summary This figure lists the executive employees of Nova Scotia Power along with their positions and compensation, which is included in rates for the 2024 calendar year. The data is partially confidential.

2023 13 80 0-½ Total 53 68 86 106 128 157 196 231 273 308 1,606 REDACTED (CONFIDENTIAL INFORMATION REMOVED) _ December 31, 2023 Nova Scotia Power Inc. 2026-2027 GRA Direct Evidence Appendix 8A Page 22 of 297 SCHEDULE 2. OTHER TRANSACTIONS...

AI summary This document presents summarized data on experience and placement bands for Nova Scotia Power Inc. from 2014 to 2023, including totals and figures for various years. The data is part of a larger appendix and includes redacted confidential information.

2022 1,080ᵃ 1,069 6,579 ½-1½ 2023 1,220ᵃ 7,490 0-½ Total 1,975 2,382 2,824 3,318 3,872 4,494 5,247 6,017 6,852 7,799 44,780 ᵃAdditions during the year REDACTED (CONFIDENTIAL INFORMATION REMOVED) _ December 31, 2023 Nova Scotia Power Inc. 2...

AI summary The text presents a table with numerical data and references to a redacted document from Nova Scotia Power Inc. dated December 31, 2023, as part of the 2026-2027 GRA Direct Evidence Appendix 8A. The data appears to relate to financial or operational metrics, though specific details are confidential.

TOTAL LINGAN 653,424,418 407,002,131 350,970,193 16,487,175 2.52 POINT ACONI 12-2029 65 - L1 a (6) 574,355,237 243,710,224 365,106,327 63,107,843 10.99 5.8 POINT TUPPER 12-2048 65 - L1 a (20) 204,646,401 93,394,889 152,180,792 7,413,632 3....

AI summary The text presents financial data for TOTAL LINGAN and various locations including POINT ACONI and POINT TUPPER, with figures related to costs, revenues, and percentages. These data points seem to be part of a regulatory proceeding involving financial analysis and reporting.

GENERAL 23,944,861 (2,085,374) 26,030,235 690,543 2.88 TOTAL HYDRAULIC PRODUCTION PLANT 614,021,913 167,856,071 697,583,817 17,707,712 2.88 340.96 SOLAR PRODUCTION PLANT SOLAR SMARTGRID 12-2051 45 - R2.5 a 0 1,582,854 98,009 1,484,845 61,6...

AI summary The document presents financial data related to production plants, including hydraulic, solar, and other production plants, with figures on costs, revenues, and ratios. Certain sections are redacted due to confidentiality.

20,230,710 7,604,683 15,660,633 655,997 3.24 23.9 _ December 31, 2023 Nova Scotia Power Inc. TUFTS COVE TUFTS COVE CT UNIT 4 12-2049 30 - L0.5 a (13) 57,829,237 11,119,148 54,227,890 3,912,965 6.77 13.9 TUFTS COVE CT UNIT 5 12-2049 30 - L0...

AI summary The text presents financial data for Nova Scotia Power Inc. as of December 31, 2023, including figures related to Tufts Cove CT Units 4 and 5, and references the 2026-2027 GRA Direct Evidence Appendix 8A.

42,982,053 22,611,639 20,370,414 2,122,241 5.00 9.6 _ December 31, 2023 Nova Scotia Power Inc. RESERVE VARIANCE AMORT - MISCELLANEOUS EQUIPMENT (3,178,537) c 3,178,537 635,707 5.0 b 399.76 MISCELLANEOUS EQUIPMENT (KELLY ROCK) 12-2029 40 -...

AI summary The document presents financial data related to Nova Scotia Power Inc., including figures for reserve variance amortization and miscellaneous equipment. The data includes dates, amounts, and references to the 2026-2027 GRA Direct Evidence Appendix 8A.

2026-2027 GRA Direct Evidence Appendix 8A Page 62 of 297 ACCOUNT 310.99 STEAM PRODUCTION PLANT ORIGINAL AND SMOOTH SURVIVOR CURVES NOVA SCOTIA POWER, INC. _ VII-2 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATION...

AI summary This document provides details on Account 310.99 Steam Production Plant from Nova Scotia Power Inc., including original and survivor curves, as part of the 2026-2027 General Rate Adjustment (GRA) proceeding. The content is partially redacted and includes a life table for the steam production plant.

759 52.74 56.5 13,159,433 777,707 0.0591 0.9409 51.46 57.5 119,288 113 0.0009 0.9991 48.42 58.5 119,175 113,940 0.9561 0.0439 48.38 59.5 5,235 4,920 0.9397 0.0603 2.13 60.5 316 237 0.7517 0.2483 0.13 61.5 78 58 0.7452 0.2548 0.03 62.5 20 1...

AI summary The text contains a table with numerical data and references to Nova Scotia Power Inc.'s hydraulic production plant account, specifically under the General Rate Adjustment (GRA) for the period 2026-2027. The data appears to be related to financial or operational metrics, though the details are redacted.

50 0.9950 89.91 36.5 248,167,518 1,083,574 0.0044 0.9956 89.45 37.5 224,121,698 2,392,869 0.0107 0.9893 89.06 38.5 221,267,955 3,946,520 0.0178 0.9822 88.11 _ VII-6 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATIO...

AI summary The document presents data related to Nova Scotia Power Inc.'s hydraulic production plant, including placement and experience bands from 1920 to 2023. This data is part of the 2026-2027 GRA Direct Evidence Appendix 8A, which contains confidential information.

6 0.0039 0.9961 69.58 76.5 37,024,871 25,729 0.0007 0.9993 69.30 77.5 36,850,623 18,352 0.0005 0.9995 69.26 78.5 36,754,436 7,966 0.0002 0.9998 69.22 _ VII-7 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATION REMOV...

AI summary The text presents a table with numerical data and references a redacted document related to Nova Scotia Power Inc.'s hydraulic production plant life table as of December 31, 2023, under the 2026-2027 GRA Direct Evidence Appendix 8A.

927 58.04 96.5 709,226 79,258 0.1118 0.8882 57.61 97.5 523,741 22,687 0.0433 0.9567 51.17 98.5 267,155 0.0000 1.0000 48.96 99.5 256,480 0.0000 1.0000 48.96 100.5 233,256 0.0000 1.0000 48.96 101.5 104,414 0.0000 1.0000 48.96 102.5 80,035 0....

AI summary This section presents data related to Nova Scotia Power Inc.'s Account 340.96 Solar - SmartGrid, including original and survivor curves, as part of the 2026-2027 General Rate Adjustment (GRA) Direct Evidence Appendix 8A.

40.45 49.5 942,220 0.0000 1.0000 37.12 50.5 37.12 _ VII-13 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8A Page 74 of 297 ACCOUNT 340.99 OTHER PRODUCTION PLANT...

AI summary This document contains financial and operational data related to Nova Scotia Power Inc.'s combined cycle production plant, including original and survivor curves, as part of the 2026-2027 General Rate Adjustment (GRA) proceeding.

73.28 16.5 51,962,152 0.0000 1.0000 66.27 17.5 51,962,152 1,352,806 0.0260 0.9740 66.27 18.5 31,972,880 118,108 0.0037 0.9963 64.54 19.5 31,854,772 0.0000 1.0000 64.30 20.5 366 0.0000 1.0000 64.30 21.5 366 0.0000 1.0000 64.30 22.5 64.30 _...

AI summary The text presents financial data and smooth survivor curves for Nova Scotia Power Inc. related to wind production plant and land rights easements. These figures and curves are part of the 2026-2027 General Rate Adjustment (GRA) Direct Evidence Appendix 8A.

276 37.42 56.5 274 234 0.8540 0.1460 34.71 57.5 40 40 1.0000 5.07 58.5 _ VII-20 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8A Page 81 of 297 ORIGINAL AND SMOO...

AI summary The document contains financial data and life tables related to Nova Scotia Power Inc.'s Account 354.00, which pertains to towers and fixtures. It includes placement and experience bands from 1978-2023 and 1997-2023, respectively, as part of the 2026-2027 General Rate Adjustment (GRA) Direct Evidence Appendix 8A.

79.15 44.5 383,199 4,520 0.0118 0.9882 75.53 45.5 74.64 _ VII-23 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8A Page 84 of 297 ORIGINAL AND SMOOTH SURVIVOR CUR...

AI summary This section of the document contains tables and data related to Nova Scotia Power Inc.'s Account 355.00, which pertains to poles and fixtures. The data includes information on placement and experience bands, as well as survival curves and life tables.

2026-2027 GRA Direct Evidence Appendix 8A Page 91 of 297 ACCOUNT 358.00 UNDERGROUND CONDUCTORS AND DEVICES NOVA SCOTIA POWER, INC. SMOOTH SURVIVOR CURVE _ VII-31 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATION R...

AI summary The text presents pages from a regulatory proceeding document, focusing on financial accounts related to underground conductors, roads, trails, bridges, and land rights for Nova Scotia Power, Inc. These pages include redacted confidential information and are part of a larger appendix in the 2026-2027 GRA Direct Evidence.

027 GRA Direct Evidence Appendix 8A Page 93 of 297 ACCOUNT 360.10 LAND RIGHTS - EASEMENTS, SURVEYS & CLEARING NOVA SCOTIA POWER, INC. SMOOTH SURVIVOR CURVE _ VII-33 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATIO...

AI summary The text contains pages from a regulatory proceeding document related to Nova Scotia Power, Inc., including sections on land rights, structures, improvements, and station equipment, with references to survivor curves and financial data. The pages are redacted and part of the 2026-2027 GRA Direct Evidence Appendix.

.40 71.5 4,549 3,306 0.7269 0.2731 2.09 72.5 1,242 1,242 1.0000 0.57 73.5 _ VII-59 Nova Scotia Power Inc. December 31, 2023 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8A Page 120 of 297 NOVA SCOTIA P...

AI summary The text presents tables and redacted information related to Nova Scotia Power Inc.'s meter and street lighting accounts, including survivor curves and financial data, as part of the 2026-2027 GRA Direct Evidence Appendix 8A.

40.50 16.5 30,511,972 4,593,550 0.1505 0.8495 34.04 17.5 25,334,857 5,223,768 0.2062 0.7938 28.92 18.5 18,703,532 4,008,898 0.2143 0.7857 22.95 19.5 14,650,276 3,470,365 0.2369 0.7631 18.03 20.5 10,997,876 3,471,375 0.3156 0.6844 13.76 21....

AI summary The text presents numerical data and mentions Nova Scotia Power Inc. and an account related to communication equipment. It includes original and survivor curves, but the content is partially redacted due to confidentiality.

HYDRO PRODUCTION PLANT AVON (14,280,497) (75) (10,773,416) (4,910,253) (20) (982,051) (11,755,466) (19,190,750) (61) BEAR RIVER (46,664,897) (99) (46,395,716) (16,223,475) (20) (3,244,695) (49,640,411) (62,888,372) (79) BLACK RIVER (42,235...

AI summary The text presents financial data for several hydro production plants in Nova Scotia, including figures for various cost and revenue categories. The data includes entries for Avon, Bear River, Black River, Dickie Brook, Fall River, and Lequille, with details on expenses, revenues, and other financial metrics.

) (29,526,021) (10,003,569) (20) (2,000,714) (31,526,735) (42,258,224) (75) ST. MARGARET'S (46,044,118) (37) (17,070,097) (6,519,665) (20) (1,303,933) (18,374,030) (52,563,783) (35) SHEET HARBOUR (25,054,309) (78) (19,614,724) (8,438,225)...

AI summary The text presents financial figures related to hydro production plants in Nova Scotia, including numbers for St. Margaret's and Sheet Harbour, with totals and various line items such as costs and revenues.

TUPPER/BEARHEAD (23,997,643) (2) (417,689) (748,264) (15) (112,240) (529,929) (24,745,907) (2) TOTAL WIND (303,827,688) (4,961,524) (10,372,894) (1,555,934) (6,517,458) (314,200,582) TUFTS COVE UNIT 6 RETIREMENTS ARE PART OF OTHER PRODUCTI...

AI summary The text presents financial data related to Nova Scotia Power Inc. as of December 31, 2023, including figures for Tupper/Bearhead and wind production. The document is part of the 2026-2027 GRA Direct Evidence Appendix 8A and contains redacted confidential information.

DICKIE BROOK 2066 2,502,806 5,749,558 4,825,966 (12,539,551) (38) VIII-3 FALL RIVER 2066 1,628,562 3,741,204 3,653,024 (1,799,775) (203) LEQUILLE 2066 13,712,180 31,500,229 29,526,021 (32,254,656) (92) ST. MARGARET'S 2066 8,305,148 19,078,...

AI summary The document presents financial data for various hydro production plants, including revenue, costs, and net losses for the year 2066. The data includes figures for Dickie Brook, Fall River, Lequille, St. Margaret's, and Sheet Harbour, with a total for all hydro production plants.

TUPPER/BEARHEAD 2035 335,932 417,689 417,689 (23,997,643) (2) TOTAL WIND PRODUCTION PLANT 3,891,460 4,961,523 4,961,524 (303,827,688) (2) _ December 31, 2023 Nova Scotia Power Inc. TOTAL PRODUCTION PLANT 305,266,167 499,938,203 383,289,627...

AI summary The text contains financial and operational data related to Nova Scotia Power Inc., including production plant totals and salvage book values, though much of the content is redacted as confidential. It references the 2026-2027 GRA Direct Evidence Appendix 8A.

42,457,298 9,102,343 21 0 9,102,343- 21- TOTAL 393,741,212 86,423,338 22 504,817 0 85,918,521- 22- THREE-YEAR MOVING AVERAGES 93-95 1,768,868 234,519 13 0 234,519- 13- 94-96 1,884,898 404,327 21 0 404,327- 21- 95-97 1,729,099 368,650 21 0...

AI summary The text presents financial data related to Nova Scotia Power Inc. (NSP) and includes a summary of book salvage for Account 310.99 Steam Production Plant. The data includes totals and three-year moving averages, though much of the content is redacted.

21,825 0 1,627,822- 7- 14-16 19,782,450 1,494,192 8 33,489 0 1,460,702- 7- 15-17 24,774,462 4,380,943 18 44,643 0 4,336,300- 18- 16-18 24,941,377 8,501,041 34 31,076 0 8,469,965- 34- 17-19 25,476,919 13,009,029 51 19,411 0 12,989,619- 51-...

AI summary The document presents financial data and a summary of book salvage for Nova Scotia Power Inc.'s Hydraulic Production Plant as of December 31, 2023. The data includes figures related to various time periods and a five-year average, though specific details are redacted.

4,714,622 3,521,871 75 25 0 3,521,846- 75- TOTAL 65,997,997 29,597,254 45 83,882 0 29,513,371- 45- THREE-YEAR MOVING AVERAGES 93-95 91,871 18,530 20 1,554 2 16,976- 18- 94-96 253,162 39,717 16 1,554 1 38,162- 15- 95-97 255,408 39,717 16 0...

AI summary The text presents financial data and summary of book salvage for Nova Scotia Power Inc.'s Account 330.99 Hydraulic Production Plant, including figures for various years and three-year moving averages.

6 of 297 NOVA SCOTIA POWER, INC. ACCOUNT 330.99 HYDRAULIC PRODUCTION PLANT SUMMARY OF BOOK SALVAGE

AI summary The document references Nova Scotia Power, Inc.'s Account 330.99, which pertains to the hydraulic production plant and includes a summary of book salvage.

1,424,921 314,303 22 0 314,303- 22- TOTAL 4,810,914 1,367,910 28 0 1,367,910- 28- THREE-YEAR MOVING AVERAGES 14-16 66,745 0 0 0 15-17 77,561 0 0 0 16-18 258,077 9,146 4 0 9,146- 4- 17-19 248,737 10,101 4 0 10,101- 4- 18-20 312,409 32,712 1...

AI summary The document presents financial data, including totals and averages over different time periods, and includes a summary of book salvage for Account 353 Station Equipment. The information is part of a regulatory proceeding and is marked as confidential.

3,508- 2015 8,407 215,762 24,428 291 191,334- 2016 286,100 39,581 14 4,393 2 35,188- 12- 2017 115,959 332,885 287 1,497 1 331,388- 286- 2018 34,911 84,135 241 1,139 3 82,996- 238- 2019 1,049,998 470,456 45 2,368 0 468,088- 45- 2020 321,199...

AI summary The text provides a table of financial data spanning from 2015 to 2023, including various figures and totals, followed by a section titled 'THREE-YEAR MOVING AVERAGES' and a reference to a redacted document related to Nova Scotia Power, Inc. in 2026-2027.

16-18 145,657 152,200 104 2,343 2 149,857- 103- 17-19 400,289 295,825 74 1,668 0 294,158- 73- 18-20 468,703 237,384 51 1,842 0 235,542- 50- 19-21 451,892 243,350 54 2,361 1 240,989- 53- 20-22 463,147 194,102 42 3,316 1 190,786- 41- 21-23 4...

AI summary The document presents financial data related to Nova Scotia Power Inc. (NSP) for various years, including figures for different accounts and summaries of book salvage. The data includes numbers such as 145,657, 152,200, and 104, which may represent financial metrics or asset-related values.

4,078,750 1,944,112 48 94,274 2 1,849,838- 45- TOTAL 50,063,222 30,976,637 62 515,655 1 30,460,982- 61- THREE-YEAR MOVING AVERAGES 93-95 790,242 127,500 16 28,670 4 98,830- 13- 94-96 418,199 96,705 23 14,152- 3- 110,857- 27- 95-97 503,459...

AI summary The document presents financial data and includes a summary of book salvage for Nova Scotia Power Inc. under Account 355, which relates to poles and fixtures. The data includes figures for different years and three-year moving averages.

1,542,482 1,419,387 92 50,991 3 1,368,396- 89- 15-17 1,609,053 1,637,920 102 41,061 3 1,596,859- 99- 16-18 4,539,816 2,227,308 49 37,069 1 2,190,239- 48- 17-19 4,993,647 2,699,071 54 23,728 0 2,675,343- 54- 18-20 5,455,273 2,624,524 48 38,...

AI summary The document presents financial data related to Nova Scotia Power Inc. (NSP) for various time periods, including figures related to overhead conductors and devices. It includes a summary of book salvage for account 356, though specific details are redacted due to confidentiality.

1,280,011 614,978 48 20,637 2 594,341- 46- TOTAL 27,386,855 4,893,129 18 376,402 1 4,516,727- 16- THREE-YEAR MOVING AVERAGES 93-95 388,687 8,503 2 19,266- 5- 27,770- 7- 94-96 193,725 34,580- 18- 23,749- 12- 10,831 6 95-97 453,563 48,433 11...

AI summary The document presents financial data, including totals and three-year moving averages, related to Nova Scotia Power Inc.'s overhead conductors and devices account, with a focus on book salvage summaries.

781,041 114,513 15 24,070 3 90,442- 12- 15-17 975,342 171,155 18 28,958 3 142,196- 15- 16-18 1,706,489 211,972 12 10,460 1 201,511- 12- 17-19 1,665,391 367,371 22 10,604 1 356,767- 21- 18-20 1,648,539 347,665 21 7,013 0 340,652- 21- 19-21...

AI summary The document contains financial data and a summary of book salvage under Account 358 for Nova Scotia Power Inc. for various periods, including a five-year average, and references a confidential appendix related to the 2026-2027 GRA Direct Evidence.

1 18- 2022 1 1 2023 5,125 5 5,120- TOTAL 124,748 22,218 18 621 0 21,597- 17- THREE-YEAR MOVING AVERAGES 95-97 102 158 56 96-98 64 102 160 0 102- 160- 97-99 64 102 160 0 102- 160- 98-00 64 0 0 0 99-01 00-02 01-03 02-04 13 13- _ VIII-17 Nova...

AI summary The document provides a summary of book salvage under Account 358, which relates to underground conductors and devices for Nova Scotia Power Inc. as of December 31, 2023. It includes financial data and three-year moving averages, though specific details are redacted due to confidentiality.

103,432 4,347 4 214 0 4,133- 4- TOTAL 9,931,364 179,880 2 37,535 0 142,346- 1- THREE-YEAR MOVING AVERAGES 93-95 651,366 225 0 11,598 2 11,374 2 94-96 160,882 882 1 11,598 7 10,717 7 95-97 406,852 3,807 1 11,598 3 7,792 2 96-98 1,332,199 5,...

AI summary The text presents financial data related to Nova Scotia Power Inc., including totals and three-year moving averages, and references a summary of book salvage for Account 362 Station Equipment. The document is part of a regulatory proceeding and includes confidential information.

4,707 3,302 70 465 10 2,838- 60- TOTAL 176,148 17,519 10 878 0 16,641- 9- THREE-YEAR MOVING AVERAGES 12-14 243 0 0 0 13-15 14-16 15-17 16-18 50,727 1,517 3 14 0 1,503- 3- 17-19 54,293 2,618 5 29 0 2,589- 5- 18-20 54,532 2,974 5 20 0 2,954-...

AI summary The document presents financial data related to Nova Scotia Power Inc., specifically summarizing book salvage for Account 364, which includes poles, towers, and fixtures. The data includes totals and moving averages over different time periods.

10,988,431 2,206,535 20 443,172 4 1,763,363- 16- TOTAL 133,477,985 45,400,100 34 710,057- 1- 46,110,157- 35- THREE-YEAR MOVING AVERAGES 93-95 4,785,481 745,813 16 627,146- 13- 1,372,958- 29- 94-96 2,023,562 656,679 32 977,723- 48- 1,634,40...

AI summary The text presents financial data and a summary of book salvage for Nova Scotia Power Inc. related to Account 364, which includes poles, towers, and fixtures. It includes figures and three-year moving averages, but the content is partially redacted.

4,873,830 666,184 14 21,715 0 644,469- 13- 15-17 5,191,457 878,271 17 35,314 1 842,957- 16- 16-18 6,015,158 1,565,007 26 60,133 1 1,504,874- 25- 17-19 6,940,053 2,817,414 41 50,735 1 2,766,679- 40- 18-20 6,726,199 2,349,849 35 51,840 1 2,2...

AI summary The text presents financial data and a summary of book salvage related to Nova Scotia Power Inc.'s overhead conductors and devices account. The data includes figures across multiple years and a reference to a confidential document.

2,149,600 888,758 41 34,288 2 854,470- 40- 15-17 2,166,069 833,276 38 45,305 2 787,971- 36- 16-18 2,325,234 1,077,746 46 40,342 2 1,037,404- 45- 17-19 3,537,988 1,967,631 56 20,983 1 1,946,648- 55- 18-20 3,950,027 2,049,833 52 23,326 1 2,0...

AI summary The document presents financial data in tabular format and references a summary of book salvage under Account 366 Underground Conduit by Nova Scotia Power Inc. as of December 31, 2023. The data includes figures related to various time periods and a reference to a redacted confidential appendix.

2023 171,146 71,935 42 9,007 5 62,928- 37- TOTAL 10,161,335 2,640,910 26 391,767 4 2,249,143- 22- THREE-YEAR MOVING AVERAGES 93-95 111,317 8,616 8 4,860 4 3,756- 3- 94-96 20,870 26,277 126 8,539 41 17,738- 85- 95-97 85,430 39,972 47 16,037...

AI summary The document presents financial data related to Nova Scotia Power Inc. (NSP) for the year 2023, including figures for various accounts and three-year moving averages. It also references a summary of book salvage under account 367, which pertains to underground conductors and devices.

2023 6,440,890 2,187,296 34 109,047 2 2,078,249- 32- TOTAL 119,782,579 34,434,403 29 2,711,012 2 31,723,391- 26- THREE-YEAR MOVING AVERAGES 93-95 3,012,587 247,810 8 174,145 6 73,665- 2- 94-96 1,506,264 513,144 34 367,339 24 145,805- 10- 9...

AI summary The text presents financial data for Nova Scotia Power Inc. for the year 2023, including figures related to book salvage for account 368 line transformers. It also includes three-year moving averages for various financial metrics. The document is part of a regulatory proceeding and contains redacted confidential information.

32,397 1 1,236,455- 22- 14-16 5,273,266 1,443,863 27 64,651 1 1,379,212- 26- 15-17 5,119,655 1,518,930 30 79,733 2 1,439,197- 28- 16-18 5,955,122 1,693,255 28 63,137 1 1,630,119- 27- 17-19 6,952,487 2,238,800 32 46,251 1 2,192,548- 32- 18-...

AI summary The text presents a series of numerical data entries, likely related to financial or operational metrics over different time periods, followed by a reference to a confidential document titled 'NOVA SCOTIA POWER, INC. ACCOUNT 369 SERVICES SUMMARY OF BOOK SALVAGE.'

1,449,638 491,752 34 20,155 1 471,596- 33- TOTAL 25,277,585 18,076,948 72 305,593 1 17,771,355- 70- THREE-YEAR MOVING AVERAGES 93-95 651,252 169,641 26 10,009 2 159,632- 25- 94-96 173,300 330,213 191 15,159 9 315,054- 182- 95-97 362,316 48...

AI summary The text presents financial data and a summary of book salvage from Nova Scotia Power Inc. for the year ending December 31, 2023. It includes figures related to accounting and financial reporting, but much of the content is redacted due to confidentiality.

8,071 1 624,594- 69- 14-16 1,575,759 651,829 41 17,793 1 634,036- 40- 15-17 1,997,867 645,222 32 23,476 1 621,746- 31- 16-18 1,597,324 566,830 35 19,884 1 546,946- 34- 17-19 1,252,655 513,708 41 11,304 1 502,404- 40- 18-20 903,469 448,185...

AI summary The document contains financial data and a summary of book salvage from Nova Scotia Power Inc.'s Account 370 Meters, as of December 31, 2023. The data includes various numerical figures, potentially related to costs, revenues, and other financial metrics over several years.

of 297 NOVA SCOTIA POWER, INC. ACCOUNT 373 STREET LIGHTING AND SIGNAL SYSTEMS SUMMARY OF BOOK SALVAGE

AI summary The document presents a summary of book salvage for Account 373, which pertains to street lighting and signal systems under Nova Scotia Power, Inc. This account likely involves financial or asset-related information related to the salvage or disposal of these systems.

5,899 0 570,572- 6- 14-16 7,848,745 482,044 6 12,975 0 469,069- 6- 15-17 2,710,004 460,727 17 17,896 1 442,831- 16- 16-18 1,835,234 428,492 23 17,330 1 411,162- 22- 17-19 3,319,241 432,121 13 13,993 0 418,128- 13- 18-20 2,931,652 333,797 1...

AI summary The document presents financial data and a summary of book salvage for Nova Scotia Power Inc.'s Account 373.10, which covers street lighting and signal systems using LED technology. The data includes figures across various periods and a five-year average.

0 0 0 2019 2020 2021 2022 2023 TOTAL 7,840,210 0 115- 0 115- 0 THREE-YEAR MOVING AVERAGES 93-95 296,755 0 38- 0 38- 0 94-96 35,623 0 288 1 288 1 95-97 127,355 0 288 0 288 0 96-98 126,804 0 0 0 97-99 104,940 0 0 0 98-00 16,890 0 0 0 _ VIII-...

AI summary The document presents financial data spanning from 2019 to 2023, including three-year moving averages, and includes a section on Nova Scotia Power, Inc.'s Account 391.1 Office Furniture and Equipment, specifically focusing on the Summary of Book Salvage.

2023 95,784 95,784- TOTAL 11,919,186 692,156 6 55,981 0 636,176- 5- THREE-YEAR MOVING AVERAGES 93-95 76,825 0 0 0 94-96 43,833 3,698 8 0 3,698- 8- 95-97 518,413 5,387 1 4,007 1 1,379- 0 96-98 660,040 5,387 1 4,007 1 1,379- 0 97-99 648,993...

AI summary The document contains a summary of book salvage for Account 397 Communication Equipment under Nova Scotia Power, Inc. for the year ending December 31, 2023. It includes numerical data related to financial figures and three-year moving averages.

4,689 2 0 4,689- 2- 2017 274,751 78,525 29 901 0 77,624- 28- 2018 354,224 26,498 7 37 0 26,461- 7- 2019 80,836 602- 81,438- 2020 429,446 37,219 9 0 37,219- 9- 2021 223,676 21,479 10 0 21,479- 10- 2022 134,650 1,431 1 0 1,431- 1- 2023 14 14...

AI summary The text presents a table with numerical data spanning multiple years, potentially related to financial or operational metrics. The data includes figures for years 2017 through 2023, with columns indicating various metrics, and a total row. Additionally, there is a section on three-year moving averages, and the document is labeled as part of a confidential appendix for a proceeding involving Nova Scotia Power Inc.

0 19,717- 9- 15-17 173,860 27,738 16 300 0 27,438- 16- 16-18 291,934 36,571 13 313 0 36,258- 12- 17-19 209,658 61,953 30 112 0 61,841- 29- 18-20 261,223 48,184 18 188- 0 48,373- 19- 19-21 217,707 46,511 21 201- 0 46,712- 21- 20-22 262,590...

AI summary The document contains financial data related to Nova Scotia Power Inc., including figures for different time periods and a reference to Account 398 Miscellaneous Equipment, which includes a summary of book salvage values.

6.52 4,252,931 4,093,991 7,039,337 21.84 322,314 2011 2,240,508.83 945,513 910,177 1,688,813 21.86 77,256 2012 1,096,687.63 435,968 419,675 852,483 22.06 38,644 2013 958,327.48 357,176 343,828 767,832 22.18 34,618 2014 2,822,407.70 976,632...

AI summary The document contains a table with financial data spanning multiple years, including figures related to various costs and revenues, and it is part of a regulatory proceeding involving Nova Scotia Power Inc. The data appears to be related to financial reporting and regulatory processes.

3.32 712,236 565,450 6,486,390 22.25 291,523 2022 4,676,446.85 354,662 281,569 5,330,167 22.25 239,558 2023 4,964,791.40 133,454 105,950 5,851,799 21.87 267,572 204,646,401.32 117,639,350 93,394,889 152,180,792 7,413,632 TRENTON 5 INTERIM...

AI summary The text presents a series of numerical data and tables, likely related to financial and operational metrics for Nova Scotia Power Inc. as of December 31, 2023. The data includes figures from various years, potentially related to costs, revenues, and other financial indicators. The document also includes a redacted section and a reference to an appendix in a proceeding related to the 2026-2027 GRA.

51 2022 6,987,969.73 476,258 442,083 7,314,563 22.95 318,717 2023 7,722,026.81 186,000 172,653 8,398,797 22.54 372,617 102,844,872.98 42,804,618 39,733,086 74,424,723 3,422,211 POINT TUPPER MARINE TERMINAL INTERIM SURVIVOR CURVE.. IOWA 100...

AI summary The document contains financial data and technical information related to the Point Tupper Marine Terminal, including retirement years, salvage percentages, and financial figures for various years. It also includes a reference to Nova Scotia Power Inc. and a redacted page from a regulatory proceeding.

54,209 124,468 54.15 2,299 1998 1,076,768.98 411,929 380,326 911,797 54.50 16,730 1999 76,529.87 28,579 26,386 65,449 54.24 1,207 2000 190,503.13 68,764 63,488 165,115 54.62 3,023 2001 41,362.80 14,404 13,299 36,336 55.02 660 2002 584,212....

AI summary The document presents a table of financial data spanning from 1998 to 2010, followed by a section related to Nova Scotia Power Inc.'s Account 330.99, focusing on the calculated remaining life depreciation accrual for the hydraulic production plant as of December 31, 2023.

SERVE ACCRUALS LIFE ACCRUAL (1) (2) (3) (4) (5) (6) (7) SURVIVOR CURVE.. IOWA 45-R3 NET SALVAGE PERCENT.. -20 2007 124,624.18 58,234 52,342 97,207 25.87 3,758 2008 1,323,933.05 583,696 524,643 1,064,077 26.69 39,868 2009 1,641,167.05 682,5...

AI summary The text presents a table with financial data including accruals, survivor curve, net salvage percent, and other metrics across multiple years from 2007 to 2023. The data includes figures related to various financial and operational aspects.

20.66 504,131 497,685 2,293,736 52.19 43,950 2013 4,095,005.17 674,857 666,228 3,428,777 53.20 64,451 2014 365,526.26 54,537 53,840 311,686 54.19 5,752 2015 2,540,786.05 338,941 334,607 2,206,179 55.20 39,967 2016 3,319,768.94 391,069 386,...

AI summary The text presents financial data related to Nova Scotia Power Inc. for various years, including figures for structures and improvements, and includes a reference to the 2026-2027 GRA Direct Evidence Appendix 8A. The data includes account numbers, years, and monetary values.

44.10 14,083 19,277 34,109 34.89 978 2012 59,584.00 15,397 21,076 41,487 35.23 1,178 2013 67,295.13 16,096 22,033 48,627 35.59 1,366 2014 95,274.19 21,008 28,757 71,281 35.75 1,994 2015 51,715.76 10,382 14,211 40,091 35.95 1,115 2016 546,5...

AI summary This table contains financial data for Nova Scotia Power Inc. from 2012 to 2023, including figures related to composite remaining life and annual accrual rates. The data is part of a confidential submission in the 2026-2027 GRA Direct Evidence Appendix 8A.

433,439 11.85 36,577 1984 5,158,570.03 5,309,407 6,404,712 559,358 12.31 45,439 1985 7,140,062.36 7,237,024 8,729,988 909,096 12.78 71,134 1986 7,585,721.81 7,565,847 9,126,645 1,114,079 13.26 84,018 1987 8,972,651.24 8,798,941 10,614,121...

AI summary The text includes a table with financial data spanning from 1984 to 1996, followed by a section related to Nova Scotia Power Inc.'s Account 364.00, which is labeled 'Poles, Towers and Fixtures.' The table contains figures that may be related to financial metrics, but the specific context or purpose of the data is not explicitly described.

SERVE ACCRUALS LIFE ACCRUAL (1) (2) (3) (4) (5) (6) (7) SURVIVOR CURVE.. IOWA 42-R2 NET SALVAGE PERCENT.. -30 2013 6,593,166.26 2,411,912 2,311,478 6,259,638 26.81 233,481 2014 6,215,504.45 2,087,912 2,000,970 6,079,186 27.26 223,008 2015...

AI summary The text presents financial data related to accruals and asset life for Nova Scotia Power Inc. over the years 2013 to 2023, including net salvage percentages and annual accrual rates. The data includes figures for serve, accruals, life, and other financial metrics.

1,870,844.16 2,413,950 2,913,375 173,518 11.85 14,643 1982 1,675,375.71 2,133,817 2,575,285 189,085 12.26 15,423 1983 1,610,833.44 2,023,706 2,442,393 215,482 12.69 16,980 1984 1,906,158.53 2,360,444 2,848,799 296,363 13.13 22,571 1985 2,3...

AI summary The text presents a series of numerical data spanning from 1982 to 1993, likely related to financial or operational metrics for Nova Scotia Power Inc. The data includes figures such as revenues, costs, and other financial indicators. The latter part of the text references a confidential document related to the 2026-2027 GRA Direct Evidence Appendix 8A, specifically page 278 of 297, and mentions Nova Scotia Power, Inc.'s Account 369.00 Services.

08.45 795,557 960,151 2,060,188 32.17 64,041 2013 2,178,866.87 864,269 1,043,079 2,552,051 33.17 76,939 2014 1,745,225.82 626,606 756,245 2,123,378 34.17 62,142 2015 2,077,530.84 667,074 805,086 2,622,840 35.17 74,576 2016 2,152,501.57 612...

AI summary The document presents financial data and account details related to Nova Scotia Power Inc., including figures for various years and a composite remaining life and annual accrual rate. It also references a specific appendix and page number from a 2026-2027 GRA Direct Evidence document.

981 2023 2,362,923.34 41,328 40,748 2,558,467 30.95 82,665 184,609,960.44 74,195,267 73,153,643 129,917,313 5,246,777 COMPOSITE REMAINING LIFE AND ANNUAL ACCRUAL RATE, PERCENT .. 24.8 2.84 _ IX-88 Nova Scotia Power Inc. December 31, 2023 R...

AI summary The document provides financial data and depreciation calculations for Nova Scotia Power Inc. as of December 31, 2023, including original costs, accrued depreciation, and remaining life of office furniture and equipment.

257,366 9.17 28,066 2011 994,197.83 584,588 787,696 256,212 9.82 26,091 2012 652,763.20 359,424 484,301 201,100 10.43 19,281 2013 884,644.44 452,549 609,782 319,095 11.05 28,877 2014 1,462,156.40 688,412 927,592 607,672 11.69 51,982 2015 7...

AI summary The document presents financial data spanning from 2011 to 2020, including various figures related to costs and revenues. It also includes a section from Nova Scotia Power Inc. regarding the depreciation accrual for communication equipment as of December 31, 2023.

13,976 2006 407,758.16 326,675 232,507 195,639 5.44 35,963 2007 44,977.59 34,834 24,793 22,433 5.87 3,822 2008 2,057,138.72 1,533,381 1,091,367 1,068,629 6.33 168,820 2009 66,247.53 47,301 33,666 35,894 6.82 5,263 2010 454,543.03 309,271 2...

AI summary The text presents a table with numerical data spanning multiple years, likely related to financial or operational metrics, and includes a reference to a redacted document titled '2026-2027 GRA Direct Evidence Appendix 8A Page 294 of 297' from Nova Scotia Power Inc. as of December 31, 2023.

Stantec has exercised a customary level of judgment or due diligence in the use of such information, Stantec assumes no responsibility for the consequences of any error or omission contained therein. This Report is intended solely for use...

AI summary This document is a remediation study update for NSPI Power Production Sites, prepared by Stantec and reviewed by technical leads and principals. It outlines the scope and limitations of the report, disclaiming liability for third parties.

Standards 700's COMMON SERVICES 71 WATER SYSTEMS REMOVAL 14 514 710 General 711 Common I Domestic Water System 712 Auxiliarv Circulatina Water System (includina Air Ventina System) 714 Fire Fighting System 14,514 715 Plumbina Svstem linclu...

AI summary The document outlines categories and costs associated with the removal of various systems, including water systems and building ventilation and heating systems, with specific line items and associated costs listed.

Used same methodology as 2020 but with updated 2024 unit rates.

AI summary The methodology used is the same as in 2020, but with updated 2024 unit rates incorporated.

9 TOTAL OTHER PRODUCTION - GAS TURBINES 178,488,931 43,001,701 148,871,695 9,034,598 5.06 OTHER PRODUCTION - WIND DIGBY 12-2036 90 - S0.5 a (2) 67,721,102 30,355,934 38,719,590 3,047,396 4.50 12.7 NUTTBY 12-2035 90 - S0.5 a (2) 111,163,131...

AI summary The text presents financial data related to gas turbines and wind production, including figures for production costs, revenues, and other financial metrics. It lists specific wind production sites with associated numbers and percentages.

- TOTAL STEAM PRODUCTION PLANT NOT STUDIED - 72,934 HYDRAULIC PRODUCTION PLANT NOT STUDIED ANNAPOLIS TIDAL 39,271,385 16,930,661 HARMONY (RETIRED) - 15,635 ROSEWAY (RETIRED) - (1,223,840) TOTAL HYDRAULIC PRODUCTION PLANT NOT STUDIED 39,271...

AI summary The text provides financial data related to various production plants and costs, including steam, hydraulic, and wind production plants, as well as ARO costs and capital contributions. The data includes figures for specific plants such as Annapolis Tidal and retired plants like Harmony and Roseway, along with associated costs and contributions.

This project was originally submitted to the NSUARB on on January 13, 2015. The NSUARB provided its Decision on August 28, 2015 and did not approve it at that time. NS Power is resubmitting this project for the Board's approval as part of...

AI summary The project was initially submitted to the NSUARB in 2015 but was not approved. NS Power is now resubmitting it as part of the General Rate Application for the Board's approval.

Original Submission $22,067,148 Current Amount $18,626,428 Variance ($3,440,719) Submitted on behalf of NOVA SCOTIA POWER INCORPORATED Approved on behalf of NOVA SCOTIA UTILITY AND REVIEW BOARD January 21, 2022 Authorized Signatory Lia Mac...

AI summary The document shows a variance between the original submission of $22,067,148 and the current approved amount of $18,626,428, with a reduction of $3,440,719. It includes the names of the entities involved and the dates of submission and approval.

This project was originally forecasted as a subsequent submission in the 2014, 2015, 2016, and 2017 ACE Plans. It was referenced in the 2018 ACE Plan with an updated budget of $19,251,601. It is now being submitted for approval as part of...

AI summary The project was initially forecasted in multiple ACE Plans from 2014 to 2017, with an updated budget in 2018. It is now being submitted for approval as part of the Company's General Rate Application and was not previously submitted to the NSUARB. The project is complete and all costs are final.

Original Submission $19,251,601 Current Amount $20,387,278 Variance $1,135,677 Submitted on behalf of NOVA SCOTIA POWER INCORPORATED Approved on behalf of NOVA SCOTIA UTILITY AND REVIEW BOARD January 21, 2022 Authorized Signatory DATE DATE...

AI summary The document shows a financial variance between the original submission and the current amount for a proceeding, with Nova Scotia Power Incorporated submitting and the Nova Scotia Utility and Review Board approving the figures.

This project was originally submitted to the NSUARB on April 24, 2015. The UARB provided its Decision on September 24, 2015 and did not approve it at that time. NS Power is resubmitting this project for the Board's approval as part of the...

AI summary A project initially submitted to the NSUARB in 2015 was not approved and is now being resubmitted by NS Power as part of a General Rate Application for the Board's approval.

Original Submission $3,957,530 Current Amount $2,691,017 Variance ($1,266,513) Submitted on behalf of NOVA SCOTIA POWER INCORPORATED Approved on behalf of NOVA SCOTIA UTILITY AND REVIEW BOARD January 21, 2022 Authorized Signatory DATE DATE...

AI summary This document shows a variance between the original submission of $3,957,530 and the current amount of $2,691,017 for a CI Number 45066. It includes a table with signatures from Nova Scotia Power Incorporated and the Nova Scotia Utility and Review Board.

This project was originally submitted to the NSUARB on November 14, 2014. The NSUARB provided its Decision on April 27, 2015 and did not approve the Project at that time. NS Power is resubmitting this project for the Board's approval as pa...

AI summary The project was initially submitted to the NSUARB in 2014 but was not approved. NS Power is now resubmitting the project as part of its General Rate Application for the Board's approval.

Original Submission $3,750,474 Current Amount $2,982,714 Variance ($767,760) Submitted on behalf of NOVA SCOTIA POWER INCORPORATED Approved on behalf of NOVA SCOTIA UTILITY AND REVIEW BOARD January 21, 2022 Authorized Signatory DATE DATE L...

AI summary The document shows a variance of $767,760 between the original submission of $3,750,474 and the current amount of $2,982,714. It includes a CI Number (45067) and signatories from Nova Scotia Power Incorporated and the Nova Scotia Utility and Review Board.

COST OF CAPITAL PREPARED FOR: NOVA SCOTIA POWER INC. BEFORE THE: NOVA SCOTIA UTILITY AND REVIEW BOARD SEPTEMBER 2025 © 2025 Concentric Energy Advisors, Inc. All rights reserved. [www.ceadvisors.com](http://www.ceadvisors.com/)

AI summary This document, prepared for Nova Scotia Power Inc. and submitted to the Nova Scotia Utility and Review Board in September 2025, addresses the cost of capital. It is part of a regulatory proceeding related to the company's financial and operational considerations.

A. James M. Coyne 4 My name is James M. Coyne, and I am employed by Concentric Energy Advisors, Inc. 5 ("Concentric") as a Senior Vice President. My business address is 293 Boston Post Road West, 6 Suite 500, Marlborough, MA 01752. 7 I am...

AI summary James M. Coyne is a Senior Vice President at Concentric Energy Advisors, Inc., providing expert testimony and advisory services on energy industry economics, finance, and public policy. He has testified before the Nova Scotia Utility and Review Board and has authored papers on utility innovation and regulation.

B. John P. Trogonoski - 5 My name is John P. Trogonoski, and I am employed by Concentric as an Assistant Vice President. 6 My business address is 293 Boston Post Road West, Suite 500, Marlborough, MA 01752. - 7 I provide expert testimony b...

AI summary John P. Trogonoski is an Assistant Vice President at Concentric, providing expert testimony on finance, economics, and public policy in the utility industry. He has testified over 30 times in U.S. and Canadian regulatory proceedings, including for the Colorado Public Utilities Commission, and has expertise in rate of return, revenue requirement, and rate design.

C. Executive Summary We have prepared this report on behalf of Nova Scotia Power Inc. ("NSPI" or the "Company"), a wholly-owned subsidiary of Emera Inc. Specifically, we have been asked to provide an estimate of the cost of capital for NSP...

AI summary This executive summary outlines the preparation of a report for Nova Scotia Power Inc. to estimate the cost of capital for rate-making purposes, focusing on return on equity and capital structure. The report uses standard analytical tools and references past regulatory decisions.

3 The average of all three methods for the North American Electric proxy group is 9.87 percent, 4 within the range of 9.29 percent to 10.32 percent. Based on this analysis, we believe a reasonable 5 estimate of NSPI's required ROE is 9.9 p...

AI summary The document discusses Nova Scotia Power Incorporated's (NSPI) required return on equity (ROE), analyzing proxy group data and concluding that a 9.9% ROE is reasonable. However, NSPI proposes maintaining its current authorized ROE of 9.0% to promote rate stability and affordability. The analysis also considers the common equity ratio and the need for a competitive ROE to attract investment and manage the energy transition.

A. The Fair Return Standard 5 The principles surrounding the concept of a "fair return" for a regulated company (Fair Return 6 Standard) were established by the Supreme Court of Canada in Northwestern Utilities v. City of Edmonton (1929) S...

AI summary The concept of a 'fair return' for regulated companies was established by the Supreme Court of Canada in Northwestern Utilities v. City of Edmonton and reaffirmed in Ontario (Energy Board) v. Ontario Power Generation Inc. , emphasizing that utilities must recover their operating and capital costs to ensure they can earn a return comparable to other investments of similar risk.

17 B. The Stand-Alone Principle The Stand-Alone Principle provides that the utility must be regulated as if it were a stand-alone entity, raising capital on the merits of its own business and financial characteristics. In this way, capital...

AI summary The Stand-Alone Principle requires utilities to be regulated as independent entities, ensuring capital is allocated based on their unique risk profiles and financial characteristics. NSPI, part of the Emera corporate structure, must compete for capital with other subsidiaries, such as Tampa Electric Company, which has a different authorized return on equity and common equity ratio.

1 C. The Relationship Between Capital Structure and ROE 2 The cost of common equity depends in part on the company's capital structure. The common 3 equity ratio and equity rate of return must therefore be considered together to determine...

AI summary The relationship between a company's capital structure and its return on common equity (ROE) is explored, emphasizing that lower common equity ratios increase financial risk and thus require higher rates of return. The capital structure decision by regulators affects the required rate of return, and both business and financial risks must be considered in setting the structure.

13 1. Canada GDP is an important indicator of economic activity that is a direct input to the multi-stage DCF model and also signals demand for all inputs to the economy, including capital. [Figure 2](#page-43-0) shows that the Canadian ec...

AI summary The text discusses Canada's economic indicators, including GDP growth, unemployment rates, and inflation, from 2020 to 2025. It highlights a slowdown in GDP growth from 2022 to early 2024, followed by a recovery in 2024. Unemployment rates fluctuated significantly, peaking during the pandemic and rising again in 2025. Inflation, measured by the CPI Trimmed Mean, declined after peaking in 2022 but remained above the Bank of Canada's target.

3 C. Central Bank Policies 4 The policies of central banks directly impact interest rates, inflation, and the pace of economic 5 growth. All of these factors influence the cost of capital for utilities. In 2022, central banks in both 6 the...

AI summary Central bank policies in 2022 influenced interest rates, inflation, and economic growth, impacting the cost of capital for utilities. Both the U.S. and Canada tightened monetary policy due to strong employment and excess demand, leading to the highest inflation in 40 years. This followed a period of extreme accommodation during the pandemic, with inflationary pressures gradually easing as higher interest rates slowed economic growth.

12 1. Canada 13 In response to inflation being higher than its target range of 1-3 percent (consumer prices 14 increased by 6.3 percent in 2022), the Bank of Canada ("BOC") raised the overnight rate on 15 multiple occasions from 0.25 perce...

AI summary The Bank of Canada raised the overnight rate multiple times in 2022 due to high inflation, reaching 5.00 percent. In 2024, it began reducing the rate due to concerns about weak economic growth and rising unemployment, bringing it down to 3.25 percent. In March 2025, the rate was further reduced to 2.75 percent amid economic uncertainty and inflation near the 2% target.

14 1. Interest Rates Bond yields are the most direct indicator of the cost of capital, as they reflect the level of interest required to compensate debt (but not equity) investors in the current market. Bond yields are a direct input to th...

AI summary The document discusses the impact of interest rates on bond yields, highlighting increases in 10- and 30-year Canadian government bond yields since 2020. It notes that utility bond yields have remained stable, with spreads between utility and government bonds narrowing slightly. The analysis relies on forecast bond yields for ROE calculations, with expectations of slight increases in Canada and declines in the U.S.

22 Bloomberg series BVCAUA30 and GCAN30YR as of March 31, 2025 (BVAL Yield Curve 30 Year replaces C29530Y Index, which was discontinued on 2/2/24). 1 Figure 10: Long-Term Forecast for 10-Year Government Bond Yields[23](#page-54-1) 2026 202...

AI summary This section presents a long-term forecast for 10-year government bond yields in Canada and the United States from 2026 to 2034, with Canada's yields projected to range from 3.2% to 3.5% and the U.S. from 3.7% to 3.8%. The data is sourced from Bloomberg series BVCAUA30 and GCAN30YR as of March 31, 2025.

3 3. Business/Investor Confidence 4 One indicator of market risk is investor confidence. Greater confidence ordinarily translates to a 5 greater willingness to invest and a lower cost of capital. In Canada, the Richard Ivey School of 6 Bus...

AI summary The text discusses business and investor confidence, using the Purchasing Managers Index (PMI) as an indicator. The PMI rose to 54.7 in December 2024, fell to a low of 47.1 in January 2025, then rebounded to 55.3 in February 2025. It is used as a leading indicator for economic activity, including price levels, supplier deliveries, job creation, and inventories.

8 [Figure 1](#page-57-0)3 summarizes the country risk ratings for Canada and the U.S. as of August 2021. 9 Figure 13: Country Risk Ratings Canada U.S. Sovereign Risk Rating A AA Currency Risk Rating A A Banking Sector Risk Rating AA A Poli...

AI summary Figure 13 compares the country risk ratings of Canada and the U.S. as of August 2021, showing they are highly comparable. Allianz reports from January 2025 also rank both countries similarly as AA1.

15 F. Capital Market Conclusions Interest rates on government and utility bonds have remained about the same as when the UARB approved the settlement in NSPI's previous GRA. This indicates that despite the uncertainties in the economy, the...

AI summary The document discusses the stability of interest rates for government and utility bonds since the UARB approved NSPI's previous GRA. It highlights long-term challenges for the utility industry, including climate change, decarbonization, and grid modernization, while noting load growth from electrification and data centers. Economic forecasts and modeling approaches are referenced.

1 Figure 14: Canadian Proxy Group Company Ticker AltaGas Inc. ALA Canadian Utilities Limited CU Enbridge Inc. ENB Fortis Inc. FTS Hydro One Ltd. H - 2 The second proxy group is comprised of U.S. electric utility companies that would be con...

AI summary The text discusses the creation of a proxy group of U.S. electric utility companies comparable in risk to NSPI. The group was formed by screening 36 domestic companies classified as Electric Utilities by Value Line to identify those primarily engaged in regulated electric utility service.

A. Discounted Cash Flow ("DCF") Model The premise underlying the DCF model is that investors value a given investment according to the present value of its expected cash flow over time. The standard DCF model is shown in Formula [1]: 23 $$...

AI summary The DCF model calculates the present value of future cash flows to determine the current stock price. It uses dividend growth rate, dividend yield, and cost of common equity. The model is rearranged to compute ROE, with cost of common equity equal to the dividend yield plus the expected dividend growth rate.

2. Dividend Yield As shown in equation [3], the dividend yield component of the DCF model is calculated as follows: [3] $$Y = D_0(1+0.5g)^1$$ One half year's growth rate is applied to the annual dividend rate to account for increases in qu...

AI summary The dividend yield component of the DCF model is calculated using an annual dividend rate adjusted by half the growth rate to account for quarterly dividend increases. This approach ensures the expected dividend yield reflects an average of the coming twelve-month period.

3 3. Growth Rate Estimates 4 In considering the appropriate growth rate for the DCF model, the most relied upon indicator of 5 investors' expectations is analysts' estimates of future earnings growth. We have relied on 6 earnings growth es...

AI summary The document discusses the use of earnings growth rates in the DCF model for estimating the cost of capital, noting that analysts' estimates are preferred over dividend growth rates. It also highlights concerns about potential optimism bias in earnings forecasts and compares earnings growth to GDP growth to assess reasonableness.

1 Figure 17: Utility Earnings, Dividend and GDP Growth Comparisons [1] Avg. EPS [2] Avg. DPS [3] [4] [5] Growth Growth CAGR Avg. EPS Growth Historical Historical GDP Growth Forecast Nominal GDP 2009-2024 2009-2024 2009-2024 Growth Forecast...

AI summary Figure 17 presents a comparison of utility earnings, dividend, and GDP growth rates for Canadian and U.S. proxy groups from 2009 to 2024, including historical growth rates and GDP forecasts.

1 Figure 18: Estimates of Nominal GDP Growth[43](#page-69-2) Source Canada U.S. Real GDP Growth 1.9% 1.9% Inflation 2.1% 2.2% Nominal GDP Growth 4.04% 4.14% 2 5. DCF Results

AI summary Figure 18 provides estimates of nominal GDP growth for Canada and the U.S., showing 4.04% and 4.14% respectively. Section 5 discusses DCF (Discounted Cash Flow) results, though details are not provided in the excerpt.

B. Capital Asset Pricing Model ("CAPM") The CAPM method is based on the relationship between the required return of a security and the systematic risk of that security. As shown in Equation [4], the CAPM is defined by four components, each...

AI summary The document explains the Capital Asset Pricing Model (CAPM) and its application in estimating the required return on equity. It outlines the components of the model, including the risk-free rate, beta, and market risk premium, and discusses how forward-looking estimates are used in the analysis.

2026 2027 2028 Average Canada 3.2% 3.4% 3.5% 3.37% U.S. 3.7% 3.7% 3.7% 3.70% 9 With an average spread between 10-year and 30-year government bond yields of 30 basis points in Canada and 44 basis points in the U.S.,[45](#page-71-3) 10 the c...

AI summary The text presents average inflation rates for Canada and the U.S. from 2026 to 2028, along with the spread between 10-year and 30-year government bond yields in both countries. The data highlights differences in yield spreads and provides context for longer-term forecast yields on 30-year government bonds.

12 Figure 21: Risk Free Rate Canada U.S. October 2024 Consensus Forecast Average 2026-2028 3.37% 3.70% Forecasts Average Daily Spread between 10-year and 30-year 0.30% 0.44% government bonds (last 10 years) Sum 3.67% 4.14% 13 2. Beta

AI summary The text presents Figure 21, which shows the risk-free rate forecasts for Canada and the U.S. for 2026-2028, along with the average spread between 10-year and 30-year government bonds over the last 10 years. The data is part of a larger analysis involving financial modeling and risk assessment.

3. Market Risk Premium ("MRP") Estimates of the MRP generally fall into two categories, ex-post (historical arithmetic average) and ex-ante (forward looking). The historical MRP is based on the arithmetic means of the equity market returns...

AI summary The Market Risk Premium (MRP) is estimated using historical and forward-looking methods. In Canada, historical MRP data spans from 1919 to 2023, while in the U.S., it spans from 1926 to 2023. Due to economic integration and free capital flows, the MRP for both countries is highly correlated, allowing for a single estimate.

9 It is common practice for Canadian regulators to approve an adjustment for flotation costs and financing flexibility, with 50 basis points being the norm (as discussed below). The adjustment for flotation costs compensates the equity hol...

AI summary Canadian regulators commonly approve a 50 basis point adjustment for flotation costs and financing flexibility. This adjustment compensates equity holders for issuance costs and ensures financial flexibility for utilities to access capital markets. This practice is widespread across Canada, with seven of ten jurisdictions historically granting this adjustment.

1 Figure 28: Risk Premium Results - Canada[54](#page-81-1) 2 3 The Canadian risk premium analysis shows that the average equity risk premium in Canada since 4 1994 has been 5.87 percent. The results of the Canadian risk premium analysis, s...

AI summary The Canadian risk premium analysis indicates an average equity risk premium of 5.87 percent since 1994, supporting the reasonableness of DCF and CAPM analyses for North American proxy group companies. The 9.53 percent result is emphasized due to its alignment with the projected risk-free rate for 2026-2028.

1 Figure 29: Risk Premium Results - Canada Using 30-Day Average Yield on 30-Year GOC Bond55 Using 2026–2028 Forecast for Yield on 30-Year GOC Bond56 Using 2026- 2030 Forecast for Yield 30- Year GOC Bond57 Yield 3.28% 3.67% 3.72% Risk Premi...

AI summary Figure 29 presents risk premium results for Canada, showing varying yields and resulting return on equity (ROE) under different forecast scenarios. The comparison to other authorized ROEs is discussed in the following section.

A. NSPI's Deemed Common Equity Ratio 4 In February 2023, the Board approved the settlement agreement which included an increase in 5 the deemed common equity ratio for NSPI from 37.5 percent to 40.0 percent for the purposes of 6 establishi...

AI summary The Board approved an increase in NSPI's deemed common equity ratio from 37.5% to 40.0% in February 2023 for rate-setting purposes. The decision was based on an analysis of NSPI's risk profile and the use of an actual five-quarter average equity thickness of up to 40.0% for determining earnings.

B. Risk Analysis Concentric examines risk from two primary perspectives: (1) financial risk; and (2) business risk. Financial risk primarily relates to the risk associated with the way in which a company has financed its business, as evide...

AI summary Concentric evaluates risk for NSPI by analyzing financial and business risk, including comparisons to other utilities and the 2021 GRA filing. Financial risk relates to debt and equity structure, while business risk includes operational and regulatory factors.

a. Definition of Financial Risk 3 Financial risk exists to the extent a company incurs debt obligations in financing its operations. 4 These fixed obligations increase the level of income which must be generated to cover interest 5 payment...

AI summary Financial risk refers to the risk a company faces when it incurs debt obligations, which increase the income needed to cover interest payments and reduce financial flexibility. This risk is relevant to both debt and equity investors and was notably impacted during the 2008/2009 credit crisis and the 2020 financial market disruptions.

b. Implication of Capital Structure on Rate of Return The capital structure relates to a company's financial risk, which represents the risk that a company may not have adequate cash flows to meet its financial obligations, and is a functi...

AI summary The capital structure of a company affects its financial risk, particularly as the percentage of debt increases, leading to higher fixed obligations and increased financial risk for equity holders. This relationship is crucial in determining a fair rate of return for the company.

Operating Utility Deemed Common Equity Ratio NSPI (existing) 40.0% NSPI (proposed) 40.0% Alberta Electric Utilities 37.0% FortisBC Electric 41.0% Ontario Electric Utilities 40.0% Maritime Electric 40.0% Newfoundland Power 45.0% Canadian El...

AI summary The document compares the deemed common equity ratio of NSPI (40.0%) with other utilities, including Alberta Electric Utilities, FortisBC Electric, and others, highlighting that NSPI's ratio is lower than the average authorized equity ratio of 49.0% for companies in the Electric T&D proxy group, which includes substantial electric generation assets.

12 d. Assessment of Credit Metrics Financial risk is also measured through other credit metrics, such as the ratio of Funds from Operations ("FFO") to debt and Debt to Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA...

AI summary The document discusses the assessment of credit metrics for Nova Scotia Power Inc. (NSPI), including ratios such as FFO to debt and Debt to EBITDA, as well as interest coverage ratios. It highlights that S&P adjusted credit metrics for NSPI in 2023 were materially weaker compared to companies in Canadian and other jurisdictions.

a. Definition of Business Risk 5 Business risk for a regulated utility results from variability in cash flows and earnings that impact 6 the ability of the utility to recover its costs including the fair return on, and of, its capital in a...

AI summary Business risk for a regulated utility involves variability in cash flows and earnings that affect the utility's ability to recover costs and achieve a fair return on its capital. This includes operating and regulatory risks.

c. Generation Ownership Unlike most other regulated electric utilities in Canada, NSPI owns substantial regulated generation assets. In 2024, NSPI derived 63.9 percent of its power supply from Company-owned generation facilities, while pur...

AI summary NSPI owns a significant portion of its power supply through regulated generation assets, unlike most Canadian utilities that are pure T&D operators. This ownership structure increases business risk according to credit rating agencies like Moody's, which uses different risk thresholds for utilities based on their generation ownership.

- 7 [Figure 34](#page-95-0) compares Nova Scotia to Canada on a number of key macroeconomic indicators over 8 the period from 2024-2045. 9 Figure 34: Key Economic Indicators – 2024-2045[86](#page-95-1) Economic Indicator NS Canada Real GDP...

AI summary Figure 34 compares Nova Scotia's macroeconomic indicators with Canada's from 2024 to 2045, showing weaker growth in most areas except retail sales. Nova Scotia's slower population growth is expected to limit electric utility growth opportunities.

4 e. Operating Risks 5 One of the most important operating risks for NSPI is weather-related service disruptions. The 6 Company's service territory is characterized by severe ice storms and wind conditions, including 7 tropical storms and...

AI summary NSPI faces operating risks from severe weather-related service disruptions and the impact of the Energy Reform (2024) Act. The company seeks to continue a storm rider to recover costs from weather events and anticipates changes in regulation and operations due to the new legislation, which may introduce uncertainty for investors.

21 g. Alternative Fuel Risk 16 amount owed by customers to NSPI for the deferred FAM balance. Although NSPI continues to face competition from alternative fuel sources, this risk is declining due to government policy that promotes electrif...

AI summary Nova Scotia Power Inc. (NSPI) faces declining alternative fuel risk due to government policies promoting electrification and increased electric vehicle adoption. The percentage of residential customers using electricity for space heating has risen from 51.1% in 2020 to 60.2% in 2024. Heat pump adoption has increased significantly, impacting NSPI's load management and exposure to volumetric risk.

20 3. Comparison to other Canadian Investor-Owned Electric Utilities Concentric also compared the business risk of NSPI to six other Canadian investor-owned electric utilities: ATCO Electric; FortisAlberta; FortisBC Electric; Hydro OneNetw...

AI summary Concentric compared the business risk of Nova Scotia Power Inc. (NSPI) to six other Canadian investor-owned electric utilities, considering factors like regulated generation ownership, fuel cost recovery, demand risk, regulatory environment, and capital cost recovery. Crown corporations were excluded due to lack of market data.

a. Regulated Generation Ownership 4 As discussed in the previous section, NSPI generated approximately 64 percent of its power 5 supply from Company-owned generation resources in 2024. By comparison, electric utilities in 6 Alberta and Ont...

AI summary NSPI generates about 64% of its power from company-owned assets, which is higher than utilities in Alberta and Ontario that do not own regulated generation. This ownership increases NSPI's risk profile compared to other investor-owned utilities in Canada.

9 c. Volume/Demand Risk NSPI does not have a mechanism to mitigate volume/demand risk due to changes in volume attributable to weather, economic conditions, or energy efficiency and conservation programs. The significance of this risk has...

AI summary NSPI lacks a mechanism to mitigate volume/demand risk due to factors like weather, economic conditions, and energy efficiency programs. This risk has increased as more residential customers switch to electric heating. Other Canadian utilities have mechanisms such as revenue stabilization plans, weather-related variance accounts, and performance-based regulation to manage this risk.

a. Regulated Electric Utility Operations NSPI derives 100 percent of its operating income and revenues from regulated electric utility service. As shown in Exhibit CEA-11, the companies in the U.S. Electric utility proxy group derive appro...

AI summary NSPI generates all of its operating income and revenues from regulated electric utility service, similar to U.S. companies in the North American Electric proxy group, which are more representative of NSPI's operations compared to Canadian proxy group companies.

c. Comparison to U.S. Electric Utility Proxy Group As a preliminary matter, Concentric notes that from investors' perspective, both short-term and long-term risk are important. Regulation generally is better at addressing short-term risk,...

AI summary Concentric compares the business risk of NSPI to the U.S. Electric proxy group, highlighting NSPI's higher regulated generation risk due to coal-fired assets and limited ratemaking mechanisms compared to the proxy group. The U.S. Electric proxy group has more risk insulation through mechanisms like revenue decoupling.

3 d. Conclusions on Business Risk of NSPI Compared to U.S. Electric 4 Utility Proxy Group 5 Based on the business risk analysis, we conclude that NSPI has similar business risk to the U.S. 6 Electric utility proxy group on many factors tha...

AI summary NSPI has similar business risk to the U.S. Electric utility proxy group in the short and intermediate term, but differences exist due to its reliance on coal and lack of a decoupling mechanism, increasing volumetric risk. NSPI also funds a DSM program without being able to recover lost revenues through an LRAM.

Canadian Regulated Utilities US Electric Utilities North American Electric Utilities CAPM – Historical MRP 9.71% 10.69% 10.32% Multi-Stage DCF 9.60% 9.35% 9.29% Risk Premium 9.54% 10.45% 10.00% Average 9.62% 10.16% 9.87% 8

AI summary The table compares the weighted average cost of capital (WACC) across Canadian regulated utilities, US electric utilities, and North American electric utilities, highlighting differences in CAPM, Multi-Stage DCF, and Risk Premium rates.

Appendix 13A – Non-standard Meter Service (AMI) Opt-out Fee 1 Proposed Fee for Non-standard Meter Service 3 2 Findings included in the Board's Decision under M10431 5 2.1 Options for Minimization or Elimination of Opt-Out Fees 6 2.1.1 Opt-...

AI summary This document discusses the proposed fee for non-standard meter service (AMI) opt-out, including findings from the Board's Decision under M10431, options for minimizing or eliminating the fee, economic comparisons, and the justification for the proposed fee.

In this Application, NS Power proposes a monthly opt-out charge according to the schedule outlined in [Table 1](#page-116-1) . Table 1 – Proposed Schedule of AMI Opt-out Fee Monthly Charges for 2026 and 2027 Standard Customer Meter Propose...

AI summary NS Power proposes a monthly opt-out charge for customers not using AMI meters, with different rates for bi-monthly and monthly read frequencies. The proposal aims to reduce meter reading costs by 64%, saving approximately $1.2 million over 2026 and 2027 while maintaining reasonable billing accuracy.

Opt-Out Charge Assumptions 2026 2027 Customer Opt-Out Percentage 2.9 2.0 Opt-Out Total Customer 16,340 11,089 Total Meter Reads Per Year 36,301 25,798 Time Required (Hours) 5,482 3,891 Expected Annual Cost ($ Million)1 Total O&M $0.73 $0.6...

AI summary The table outlines the assumptions related to opt-out charges for the years 2026 and 2027, including customer opt-out percentages, total meter reads, time required, and expected annual costs. It also provides monthly charge amounts for different customer reading frequencies.

2 Findings included in the Board's Decision under M10431 The NSEB's 2023-2024 GRA Decision provided general direction for pursuing available options: In considering NS Power's requested opt-out fee, the Board questions whether all reasonab...

AI summary The Board questions whether all reasonable options have been explored to minimize or eliminate the proposed opt-out fee for the smart meter program. It notes that customers who opt-out will still pay for the capital project through embedded rate costs and is not persuaded that the fee has been fully justified. The Board emphasizes the need for flexible meter reading schedules to minimize energy cost burdens.

2.1.1 Opt-Out Fees in Other Jurisdictions Section 11 of the Company's AMI Project Application provided a summary of the separate charges implemented by utilities in other jurisdictions for non-standard meter service to recover the cost of...

AI summary The document discusses opt-out fees for non-standard meter service in other jurisdictions, noting that utilities typically charge initial and monthly fees. NS Power's approach differs by not including an initial fee, as their AMI meters with OTA billing turned off reduce administrative costs for opt-out customers.

Non-standard Meter Service (AMI) Opt-out Fee 2026-2027 GRA Direct Evidence Appendix 13A Page 8 of 14 Customer-submitted meter reads are used only on an exception basis when NS Power is unable to obtain an on-site reading. Regulation 5.1 re...

AI summary The document discusses the risks associated with customer-submitted meter reads under the proposed opt-out fee for non-standard meter service (AMI) from 2026-2027. It highlights concerns about inaccuracies and intentional misreporting, especially when combined with bill estimations. The document argues that customer-submitted reads are not a reliable substitute for manual reads, necessitating an opt-out fee to cover the costs of ensuring accuracy.

2.2 Both AMI Project Capital Costs and Savings are Embedded in Rates 9 Regulation 5.1 Meter Reading, "Estimated Meter Reading," page 40. January 1, 2017. 10 Regulation 5.1 Meter Reading, "Estimated Meter Readings in Rural Areas," page 41.

AI summary This section discusses how the capital costs and savings associated with the Advanced Metering Infrastructure (AMI) project are embedded in rates. It references regulations related to estimated meter readings in rural areas and general meter reading practices.

2.4 The Need, and Amount, of the Proposed Opt-out Fee has been Fully Explored and Justified NS Power's position is closely aligned with the principles and justifications established by HRWC in its 2016 AMI opt-out proposal and, more recent...

AI summary NS Power argues that an opt-out fee is necessary to cover the extra costs incurred from customers who have not installed AMI meters. These customers increase operational costs due to manual meter readings and bill estimations. HRWC's 2020 GRA proposed extending the opt-out fee to all opt-out customers, and this position is supported by the need to ensure fair cost distribution.

Non-standard Meter Service (AMI) Opt-out Fee 2026-2027 GRA Direct Evidence Appendix 13A Page 14 of 14 Customers currently on a monthly demand read cycle would pay $274.84 annually if billed the proposed opt-out fee of $22.89 per month, in...

AI summary The document discusses the proposed AMI opt-out fee for customers who choose not to use advanced metering infrastructure. It references a 2020 Board decision approving a similar fee for Halifax Water and notes that all parties accept the need for an opt-out charge, with Synapse suggesting a reasonable range of $10-$12 per month.

CAD to USD conversion 1.4188 CAD to OSD conversion 1.4188 Central Power Maine Electro-mechanical or Solid State Meter $ 56.75 $ 25.62 - Discounted monthly fee may be available to income-qualified customers; no exit fee; additional $25 surc...

AI summary The text provides a table with information on meter costs and associated fees from various utility companies in the US and Canada, including Central Power Maine, AEP Ohio, and FPL Energy. The table includes details such as meter types, prices in CAD and USD, and additional fees or policies.

Opt-Out Meter Reading via External Contractor Resources NS Power provided a full update on the RFP as part of its General Rate Application (GRA) M10431, [4](#page-131-0) and has provided further details to address each of the findings outl...

AI summary NS Power provided an update on the RFP as part of its General Rate Application (GRA) M10431 and addressed findings from the Board's M10431 Decision in Appendix 13A of the Company's Direct Evidence in the 2026-2027 GRA.

Cost of Service Study Redacted 1 2.0 SUMMARY OF STAKEHOLDER PROCESS 2 - 3 NS Power advised the Board in its December 14, 2023 letter of its intention for the COSS process

AI summary The document outlines the initiation of the Cost of Service Study (COSS) process by NS Power, as communicated in a letter dated December 14, 2023, to the Board.

22 subject to the results of a Distribution Survey. The results of that survey were submitted in the Concentric Report in the 2022-2024 GRA.[19](#page-24-3) 23 DATE FILED: September 18, 2025 Page 25 of 29 18 NS Power's Report, Feb. 9, 2015...

AI summary The text references a Distribution Survey and its submission in the 2022-2024 GRA, citing a report from NS Power and an application with appendix details. It also includes a date filed and page reference.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 1 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Exhibit Reference Cells Modification 1. NSP Positions All changes in models 2-5 (Some models require new rows so reference cells in the...

AI summary This document outlines changes to models and exhibits related to the 2026-2027 GRA, including adjustments to intermediate generation classification, transmission demand plant allocations, and modifications to various exhibits. These changes are highlighted and involve reclassifications and formula revisions.

12 COSS Model Run #1, NSP Positions: 13 This model represents NSP's positions and includes all changes from model runs 2, 3, 4, and 5.

AI summary This section outlines NSP's positions in the first COSS Model Run, incorporating changes from previous model runs 2 through 5.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 9 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475)

AI summary This document refers to the Cost of Service Study Process as part of the Nova Scotia Utility and Regulatory Board (NSUARB) matter M11475. It is related to the 2026-2027 General Rate Application (GRA) and includes direct evidence from the appendix.

1 COSS Model Run #11, MEUs Included as an ATL "Municipal OATT" Rate Class: - 2 This model run was prepared to provide context to the MEUs for how costs would be allocated in - 3 the COSS instead of the OATT. A new "OATT Municipal" class is...

AI summary This section describes COSS Model Run #11, which includes MEUs as an ATL 'Municipal OATT' rate class. The model replaces ELIADC with a new 'OATT Municipal' class in the BCF and COSS, incorporating loads from Antigonish, Berwick, Mahone Bay, and Riverport, net of Ellershouse volumes.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 11 of 46 Cost of Service Study Process (NSUARB M11475)

AI summary This document is part of the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 12A(1), discussing the Cost of Service Study Process under NSUARB matter number M11475.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 16 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475)

AI summary This document refers to the Cost of Service Study Process as part of the NSUARB M11475 matter, indicating that the study is a key component in the regulatory proceeding related to the 2026-2027 General Rate Application.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 19 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475)

AI summary The document refers to the Cost of Service Study Process under NSUARB M11475, which is part of the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 12A(1). The study is likely related to analyzing the costs associated with service delivery for regulatory proceedings.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 21 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475)

AI summary The document refers to the Cost of Service Study Process under the NSUARB M11475 matter, indicating a regulatory proceeding related to cost of service studies in Nova Scotia.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 22 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475)

AI summary This document references the Cost of Service Study Process under NSUARB M11475, indicating that it is part of a regulatory proceeding related to the cost of service studies conducted by the Nova Scotia Utility and Review Board.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 24 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475)

AI summary This document refers to the Cost of Service Study Process under the NSUARB matter number M11475. It is part of the 2026-2027 GRA Direct Evidence Appendix 12A(1), which contains redacted confidential information.

Cost of Service Study Process (NSUARB M11475) 2026-2027 GRA Direct Evidence Appendix 12A(1) Page 25 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is part of a cost of service study process under NSUARB M11475, specifically the 2026-2027 GRA Direct Evidence Appendix 12A(1), with a note that certain information has been redacted as confidential.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 26 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475)

AI summary This document refers to the Cost of Service Study Process under the NSUARB proceeding M11475, indicating the regulatory body's involvement in analyzing service costs.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 28 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NS POWER GENERAL RATE APPLICATION ("GRA"):

AI summary The document is a page from the 2026-2027 GRA Direct Evidence Appendix 12A(1), which is part of a regulatory proceeding involving Nova Scotia Power's general rate application. The page is redacted, indicating that confidential information has been removed.

GRA COST OF SERVICE STUDY ELEMENTS - REBUTTAL PREPARED FOR: NOVA SCOTIA POWER, INC. AUGUST 23, 2022 [CEADVISORS.COM](http://www.ceadvisors.com/) ©2022 CONCENTRIC ENERGY ADVISORS, INC. ALL RIGHTS RESERVED.

AI summary This document is a rebuttal prepared for Nova Scotia Power, Inc. as part of a GRA cost of service study. It was prepared by Concentric Energy Advisors, Inc. on August 23, 2022.

INTRODUCTION AND PURPOSE - My name is Bickey Rimal, and I am an Assistant Vice President with Concentric Energy Advisors, Inc. - ("Concentric"). I provided evidence related to class cost of service, pricing and rate design matters - in the...

AI summary Bickey Rimal, an Assistant Vice President with Concentric Energy Advisors, Inc., provides rebuttal testimony in the 2022 General Rate Application submitted by Nova Scotia Power. The testimony addresses claims and critiques from intervenors and consultants regarding the Minimum System Method, Minimum System Study, pole sub-functionalization study, cost allocation methods, and the methodology for calculating the Pole Attachment Rate.

10 Figure 1: Canada Results Summary Utility MSS Used? Poles, Towers and Conductors Line Fixtures Transformers Nova Scotia Power (Current) PRI: 27% Customer, 73% Demand; SEC: 50% Customer, 50% Demand PRI Overhead/Underground: 27% Customer,...

AI summary The document provides a summary of results related to the distribution of costs for poles, towers, conductors, line fixtures, and transformers among various utilities in Canada. It compares current and proposed cost allocations for Nova Scotia Power and other utilities, highlighting differences in customer and demand-based cost distribution.

New No 50% Customer, 50% 50% Customer, 50% 25% Customer, Brunswick Demand Demand 75% Demand Power Newfoundland Yes 37% Customer, 63% 37% Customer, 63% 28% Customer, Power Demand, Demand 72% Demand Ontario No 60% Customer if Density is < 30...

AI summary The table outlines different utility companies and their respective customer and demand percentages under various scenarios. It includes entities such as Brunswick Power, Newfoundland Power, Ontario, and SaskPower, indicating varying levels of customer and demand participation in different regions.

SYSTEM - Minimum System Costs are Customer-related - Dr. Pavlovic's cites Professor Bonbright's book Principles of Public Utility Rates as a basis for his - criticism of the use of the Minimum System Method to classify a portion of the dis...

AI summary The text discusses Dr. Pavlovic's criticism of the Minimum System Method for classifying distribution costs as customer-related, citing Professor Bonbright's work. However, it notes that Bonbright actually prefers classifying minimum system costs as customer-related rather than demand-related, aligning with the Company's application.

Relationship between Feeder Length and Customer Count The Resource Insight evidence, filed on behalf of the CA, conducts regression analysis using length as a dependent variable and customer count as an independent variable and concludes t...

AI summary The Resource Insight evidence, filed on behalf of the CA, uses regression analysis to examine the relationship between feeder length and customer count, concluding no direct relationship exists. However, this analysis is criticized for not considering the location of the feeder, which affects the number of customers served.

Application of the minimum sized conductor to the appropriate length - The assertion in the Resource Insight evidence that "Concentric applied the cost of a multiple- - conductor line such as triplex to the sum of the lengths of all the co...

AI summary The text refutes an assertion in the Resource Insight evidence, stating that Concentric incorrectly applied the cost of a multi-conductor line to the total length of all conductors and neutrals. It clarifies that Concentric correctly applied the minimum-sized conductor to the appropriate circuit length, making the calculations accurate.

Review of Cost Allocation Methods - Resource Insight requests a review of NS Power's cost allocation methods through a new - collaborative process. Resource Insight reasons that a review of cost allocation methods is needed - due to existi...

AI summary Resource Insight requests a review of NS Power's cost allocation methods due to investments in carbon-free generation and distributed energy resources. The Board argues that these issues are not new, the transition to distributed resources will not happen overnight, and the claim lacks concrete guidance, making an immediate review unnecessary.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 43 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) CONCENTRIC EVIDENCE: GRA COSS ELEMENTS - Fourth, Resource Insight does not provide any logic, evidence or argument regarding what alloc...

AI summary The text critiques Resource Insight's recommendations regarding cost allocation methodologies, arguing that they lack logic and evidence, and could lead to instability in cost allocation and rate design. The critique emphasizes the importance of following precedents and maintaining rate stability.

Net Pole Investment and Depreciation Expense - Mr. Briggs's evidence disagrees with the derivation of the net pole investment included in the - Company's calculation of the pole attachment fee proposed in the application. [23](#page-72-0)...

AI summary Mr. Briggs disputes the Company's calculation of net pole investment and depreciation expense, arguing that the methodology used in the 2001 proceeding included non-pole assets. The Company's approach considers cross-subsidization and defines a 'subsidy-free' range for pole attachment fees based on incremental and total avoided costs.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 45 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) CONCENTRIC EVIDENCE: GRA COSS ELEMENTS - no subsidy being provided to the Company by the third-party attachers. As a result, any price...

AI summary The text discusses the economic efficiency of pole attachment fees and the allocation of costs between third-party attachers and NS Power. It highlights that no subsidy is provided to the Company by third-party attachers and that benefits are shared between shareholders and customers. Mr. Briggs disagrees with including insulator investment in the calculation, but the shared usage allocation ratio already excludes those costs.

Shared Usage Allocation Factor - Mr. Briggs also disagrees with the 75% ratio used to allocate the net pole investment to shared usage - between power and non-power attachers. [28](#page-73-1) The development of the 75% allocation factor i...

AI summary Mr. Briggs disputes the 75% ratio used to allocate net pole investment between power and non-power attachers. The 75% allocation factor is defended as reasonable because it reflects cost relationships between pole components and may be a conservative estimate.

Calculations of Attachments per Pole In his evidence, Mr. Briggs disputes the use of the pole attachment ratio of 1.31 used by the Company in the pole attachment fee calculations. [31](#page-74-1) The Company has calculated the pole attach...

AI summary Mr. Briggs disputes the use of a pole attachment ratio of 1.31 by the Company, arguing that the denominator should include all poles, not just those with attachments. The New Brunswick Energy and Utilities Board (NBEUB) supported this approach in its 2015 Decision, stating that using all poles as the denominator better reflects the available capacity for third-party attachers.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 2 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document is part of a partially confidential cost of service study process related to the NSUARB M11475 proceeding. It includes NSPI's responses to data requests from the Canadian Association (CA).

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 3 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary The document refers to the Cost of Service Study Process under NSUARB M11475 and includes NSPI's responses to data requests from the CA. The content is partially confidential and part of a larger appendix.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 4 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines the Cost of Service Study Process under NSUARB M11475, with NSPI providing responses to CA data requests. It is part of a partially confidential appendix in the 2026-2027 GRA proceeding.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 5 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document is part of a cost of service study process under the Nova Scotia Utility and Review Board (NSUARB) matter M11475, containing responses from NSP to data requests related to the 2026-2027 GRA Direct Evidence Appendix 12A(2).

Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines the Cost of Service Study Process under NSUARB M11475, with NSPI providing responses to data requests from the Canadian Association (CA). The process involves analyzing cost structures and service delivery.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 25 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines the Cost of Service Study Process as part of the NSUARB M11475 proceeding, with NSPI providing responses to data requests from the CA. The content is partially redacted and confidential.

1 https://www.nspower.ca/docs/default-source/irp/2022-evergreen-irp-updated-assumptions-january-2023 update.pdf, Slide 17 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 26 of 1218 REDACTED (CONFIDENTIAL INFORMATI...

AI summary The text references a cost of service study process under NSUARB M11475 and mentions NSPI's responses to CA data requests, indicating regulatory proceedings related to cost analysis and data submission.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 27 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document refers to the Cost of Service Study Process under NSUARB M11475, with NSPI providing responses to data requests from the CA. The context involves regulatory proceedings related to cost analysis and service studies.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines NSPI's responses to data requests from the Commission for Approvals regarding the Cost of Service Study Process under matter number M11475.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 688 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines the Cost of Service Study Process as part of the NSUARB M11475 proceeding, with NSPI providing responses to CA data requests. It is a direct evidence appendix from the 2026-2027 GRA, with confidential information redacted.

REDACTED 1 Request DR-13: 2 3 Please provide the following hourly data for the 2019-2023 time period: 4 5 (a) System load, both above-the-line and below-the line. 6 7 (b) Marginal costs, both above-the-line and below-the line. 8 9 (c) Day-...

AI summary The text requests detailed hourly data on system load, marginal costs, power prices, unit dispatch, and unit status for NS Power from 2019 to 2023. The response refers to existing data in CA DR-58 and SRMS Test to Rates Reports for average marginal costs.

2019-2023 Average Marginal Cost in MWh Months Average MC 2019 2020 2021 2022 2023 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Average MC (1) $54.23 $44.34 $57.36 $124.88 $70.79 (1) 2019 M09701: P-878 - Nova Scotia Power Inc 2019 Short...

AI summary The document presents the 2019-2023 average marginal cost in MWh, with data cited from various regulatory matters involving Nova Scotia Power Inc. The average marginal cost fluctuated significantly over the years, with the highest value recorded in 2022. Each year's data is linked to a specific regulatory proceeding.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines NSPI's responses to data requests from the NSUARB regarding the Cost of Service Study Process (M11475). It provides insights into the data and information NSPI has submitted for review.

22 Type Distribution Capacity Class Small Medium Large Large Auto TX Details Capacity [MVA] 7.5/10/12.5 15/20/25 25/33/42 56/75/93 HV Voltage [kV] 69 138 138 LV Voltage [kV] 26.4 13.2 26.4 26.4 69 Cost $1,600,000 $1,300,000 $2,200,000 $2,5...

AI summary The text presents a table outlining transformer details, including capacity classes, voltage levels, and associated costs. It is part of a partially confidential appendix in a regulatory proceeding, indicating that it contains sensitive information related to the GRA (General Rate Adjustment) process.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 718 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) COSS CA DR-22 Attachment 1 Page 1 of 1

AI summary This document is a partially confidential appendix from the 2026-2027 GRA Direct Evidence, specifically COSS CA DR-22 Attachment 1. It is part of a larger regulatory proceeding and contains information related to the Cost of Service Study (COSS).

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 723 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document pertains to the Cost of Service Study Process under NSUARB M11475, with NSPI providing responses to CA data requests. The context involves a regulatory proceeding related to the 2026-2027 GRA, with some information redacted.

COSS CA DR-27 Attachment 1 Page 9 of 9 Name Section Title Z-ED-75M 3 OF 15.pdf Section Z - Miscellaneous Equipmen CGR Transmitter and Power Supply; Assembly and Mounting Details Z-ED-75M 4 OF 15.pdf Section Z - Miscellaneous Equipmen CGR A...

AI summary The text lists various technical documents related to equipment installation and provides a request for a breakdown of NS Power's proposal for customer-classified costs. The context suggests a regulatory or technical proceeding involving infrastructure details and cost classifications.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 736 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document references the Cost of Service Study Process under NSUARB M11475 and outlines NSPI's responses to data requests from the Commission. It is part of a partially confidential appendix in the 2026-2027 GRA proceeding.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests 1 Request DR-32: 2 3 Please explain whether billing services are more complex for customers with demand 4 charges, TOU rates, power factor adjustments, voltag...

AI summary NSPI explains that billing services have become more complex for all customers, including residential and commercial, due to the increasing variety of rate structures such as demand charges, TOU rates, and net metering. This complexity is outlined in the 2024 Tariff book, which details rate structures for each customer class.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines NSPI's responses to data requests from the NSUARB regarding the Cost of Service Study Process, specifically under matter M11475.

NON-CONFIDENTIAL 1 Request DR-34: 2 3 Please provide complete and detailed documentation of the input data, methods, and results 4 of the analyses used to determine the functionalization of NS Power's investments in: 5 6 (a) Primary poles....

AI summary The document requests detailed documentation of the input data, methods, and results of analyses used to determine the functionalization of NS Power's investments in various distribution infrastructure components. The response refers to specific exhibits from the 2023 COSS.

20 Ending Balance, Net Regulated Plant In-Service ($ millions) Functional Class Depreciation Asset Pool 2023 2022 2021 2020 2019 Distribution Plant - D Poles, Towers and Fixtures 321 299 272 260 249 Transmission Plant - T Poles and Fixture...

AI summary The table presents the ending balance of net regulated plant in-service across different functional classes and years, highlighting changes in distribution and transmission plant values from 2019 to 2023. The data is part of a partially confidential GRA Direct Evidence Appendix.

21 Ending Balance, Net Regulated Plant In-Service ($ millions) Functional Class Depreciation Asset Pool 2023 2022 2021 2020 2019 Distribution Plant - D Overhead Conductors and Devices 182 188 136 136 126 PARTIALLY CONFIDENTIAL 2026-2027 GR...

AI summary The document presents a table showing the ending balance of Net Regulated Plant In-Service for the Distribution Plant - D, specifically for Overhead Conductors and Devices, across the years 2019 to 2023. This information is part of a partially confidential GRA Direct Evidence Appendix.

NON-CONFIDENTIAL 1 Request DR-37: 2 3 Please provide the total costs of underground wire for each voltage level installed for the 4 most recent five years, broken down by reason for wire installation (e.g., new customer, 5 replaced due to...

AI summary NS Power does not track the total costs of underground wire by voltage level or reason for installation. Instead, costs are accumulated in depreciation pools, making it impossible to provide net book values by voltage level. Historical data would be needed to estimate the rate base value.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 753 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines NSPI's responses to data requests related to the Cost of Service Study (COSS) process under the NSUARB M11475 proceeding. It provides insights into the GRA (General Rate Application) for the 2026-2027 period.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 754 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary The document outlines NSPI's responses to data requests related to the Cost of Service Study Process under NSUARB M11475, as part of the 2026-2027 GRA Direct Evidence Appendix 12A(2).

Date Filed: May 31, 2024 NSPI (CA) DR-39 Page 2 of 2 1 Hourly temperature for the indicated peak hour at Halifax International Airport, taken from the Government of Canada website: Historical Data - Climate - Environment and Climate Change...

AI summary The document is a partially confidential appendix from a 2026-2027 General Rate Application (GRA) filed by NSPI. It includes a reference to hourly temperature data from Halifax International Airport and is part of a larger proceeding involving rate-setting and cost-of-service analysis.

COSS CA DR-39 Attachment 1 Page 2 of 2 Transformer Sub ID Sub Name Region 2016 Peak (MW) 2017 Peak (MW) 2018 Peak (MW) 2019 Peak (MW) 2020 Peak (MW) 2021 Peak (MW) 2022 Peak (MW) 2023 Peak (MW) 87W-T61 87W HUBBARDS Western 7.72 10.37 6.88...

AI summary The document presents a table showing the peak load (in MW) for various transformers across different years from 2016 to 2023, categorized by region and substation names in the Western region of Nova Scotia. The data highlights fluctuations in peak demand over time for each transformer.

COSS CA DR-40 Attachment 1 Page 1 of 6 Feeder 100C-421 Canso Region 1.47 1.45 1.82 955 963 989 2021 Peak Load (MW) 2022 Peak Load (MW) 2023 Peak Load (MW) 2021 Customer Count 2022 Customers 2023 Customers 2023 Residential Customers 931 202...

AI summary The document provides a table with data on various feeders in Nova Scotia, including peak load (MW), customer counts, and lengths (m) for different years. This data appears to be part of a Cost of Service Study (COSS) related to a General Rate Application (GRA).

NSPI Responses to CA Data Requests 1 Request DR-43: 2 3 Please provide the rules, regulations and formulae that NS Power applies in determining 4 how much of the distribution investment it will bear as a function of anticipated sales, 5 re...

AI summary NSPI responds to a data request regarding the rules and regulations used by NS Power to determine how distribution investment costs are allocated between new customers and developers. NSPI states that anticipated sales, revenues, or other metrics of new customers do not influence this allocation. The response refers to NS Power Regulation 2.6 and 2.12 approved by the NSUARB.

1 (b) The number of Service Drops by class are as follows: 2 Class Description Count Code CB Commercial – Bi-Monthly 20,409 CM Commercial Monthly 17,808 DB Domestic Bi-Monthly 487,030 DM Domestic Monthly 123 DT Domestic Time of Day 13,244...

AI summary The document outlines the number of service drops by class in Nova Scotia, categorizing them into commercial, domestic, industrial, and non-profit classes with specific counts for each category.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary The document outlines NSPI's responses to data requests from the Cost of Service Study (COSS) process under NSUARB M11475, focusing on providing information relevant to the regulatory proceeding.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 791 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1a Page 1 of 12 COSS CA DR-53 Attachment 1 Page 1 of 62

AI summary The text references a partially confidential document related to the 2026-2027 Generation and Resource Assessment (GRA) and includes attachments from a prior Cost of Service Study (COSS). The document is part of a regulatory proceeding and contains redacted information.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 793 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1a Page 3 of 12 COSS CA DR-53 Attachment 1 Page 3 of 62 Nova Scotia Power Cost...

AI summary This document outlines the methodology used in the Nova Scotia Power Cost of Service Study from January 2022, as part of the 2022-2024 GRA and related appendices. It is part of a partially confidential submission in a regulatory proceeding.

2 , as follows: EXHIBIT COMPARISON OF REVENUE TO EXPENSE RATIOS 1 FUNCTIONALIZATION OF AVERAGE RATE BASE 2 INITIAL CLASSIFICATION OF AVERAGE RATE BASE 2A FINAL CLASSIFICATION OF AVERAGE RATE BASE 2B ALLOCATION OF AVERAGE RATE BASE 3 ALLOCA...

AI summary The text lists various exhibits and appendices related to a regulatory proceeding, including comparisons of revenue to expense ratios, functionalization and allocation of rate bases, and analysis of operating expenses and revenue. These materials are part of a partially confidential document.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 803 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1b Page 1 of 3 COSS CA DR-53 Attachment 1 Page 13 of 62 Nova Scotia Power

AI summary The document is a partially confidential appendix from a 2026-2027 Generation and Resource Assessment (GRA) proceeding, referencing a Cost of Service Study (COSS) and related attachments. It is part of a larger set of evidence submitted by Nova Scotia Power Inc. (NSPI) to the Nova Scotia Utility and Review Board (NSUARB).

Determination of Revenue Responsibilities By Rate Classes January 2022 2022-2024 GRA SR-01 Attachment 1b Page 2 of 3 COSS CA DR-53 Attachment 1 Page 14 of 62 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 804 of...

AI summary The document outlines how Nova Scotia Power determines revenue responsibilities by rate class using the Cost of Service Study (COSS). Revenue is apportioned among Above-the-Line (ATL), Below-the-Line (BTL), and Miscellaneous rate classes. DSM program costs are excluded from the revenue requirement and fall under the DSM Rider.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 806 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1c Page 1 of 4 COSS CA DR-53 Attachment 1 Page 16 of 62

AI summary This document is a partially confidential appendix from a 2026-2027 Generation and Resource Assessment (GRA) proceeding, referencing prior GRA and Cost of Service Study (COSS) documents. It includes attachments and page numbers, indicating it is part of a larger regulatory process involving Nova Scotia Power Inc. (NSPI) and the Nova Scotia Utility and Review Board (NSUARB).

Fuel And Purchased Power Related Cost Of Service Methodology January 2022 2022-2024 GRA SR-01 Attachment 1c Page 2 of 4 COSS CA DR-53 Attachment 1 Page 17 of 62 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 807...

AI summary The document outlines the methodology for calculating the fuel and purchased power related cost of service, as part of a regulatory proceeding. It includes attachments and appendices from various GRA studies and cost of service analyses, with some sections marked as confidential or redacted.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 810 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1d Page 1 of 11 COSS CA DR-53 Attachment 1 Page 20 of 62

AI summary The document is a partially confidential appendix from a 2026-2027 Generation and Resource Assessment (GRA) proceeding, referencing prior GRA and Cost of Service Study (COSS) documents. It includes attachments from 2022-2024 GRA and COSS studies, but much of the content is redacted.

Unmetered Services Pricing January 2022 Updated February 2022

AI summary The document titled 'Unmetered Services Pricing' was last updated in February 2022. It discusses the pricing of services that are not metered, likely involving cost analysis and regulatory considerations.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 811 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1d Page 2 of 11 COSS CA DR-53 Attachment 1 Page 21 of 62

AI summary The text references appendices and attachments from GRA and COSS documents, indicating they are part of a regulatory proceeding related to cost of service studies and generation and resource assessments.

Nova Scotia Power Unmetered Services Pricing January 2022 1 1.0 INTRODUCTION 2 3 This report is filed in support of NS Power's General Rate Application (GRA). The report provides 4 a description of unmetered services, an outline of the cur...

AI summary This document outlines Nova Scotia Power's General Rate Application (GRA) for unmetered services, including streetlight rates and the rationale for unmetered service eligibility based on impracticality of metering and high costs relative to energy consumption.

2.0 RATEMAKING METHODOLOGY FOR UNMETERED - 9 The ratemaking methodology is comprised of two steps: - 1. Determination of cost responsibilities of the Cost of Service Study (COSS)-based unmetered class, which is comprised of all costs of st...

AI summary The ratemaking methodology for unmetered classes involves determining cost responsibilities based on the Cost of Service Study (COSS), which includes street and area lighting and miscellaneous loads, followed by setting revenue responsibilities and calculating individual service rates.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 814 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1d Page 5 of 11 COSS CA DR-53 Attachment 1 Page 24 of 62 Nova Scotia Power Unm...

AI summary The document discusses the determination of unmetered electricity rates for streetlight fixture maintenance, including the allocation of capital costs using the Cost of Service Study (COSS) methodology. The rates are structured with a demand charge and declining block energy charges, and are subject to changes in GRA proceedings.

2022-2024 GRA SR-01 Attachment 1d Page 7 of 11 COSS CA DR-53 Attachment 1 Page 26 of 62

AI summary The text references a Cost of Service Study (COSS) and a Generation and Resource Assessment (GRA) document, both associated with Nova Scotia Power Inc. (NSPI) and the Nova Scotia Utility and Review Board (NSUARB). These documents are part of regulatory proceedings in Nova Scotia.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 819 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1d Page 10 of 11 COSS CA DR-53 Attachment 1 Page 29 of 62

AI summary The text is a partially confidential appendix from a 2026-2027 Generation and Resource Assessment (GRA) document, referencing prior GRA and Cost of Service Study (COSS) materials. It includes page numbers and internal document identifiers but lacks substantive content due to redaction.

Open Access Transmission Tariff Update January 2022 Updated February 2022 2022-2024 GRA SR-01 Attachment 1e Page 2 of 32 COSS CA DR-53 Attachment 1 Page 32 of 62 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 822...

AI summary The text references an Open Access Transmission Tariff Update from January 2022, with updates in February 2022. It includes references to various GRA and COSS documents, some of which are partially confidential or redacted.

As part of the General Rate Application: SR-01 Attachment 17 2022 OATT Rate Development Partially Confidential (Excel and pdf) SR-01 Attachment 18 2022 OATT Rate Calculation (Excel and pdf) SR-01 Attachment 19 2023 OATT Rate Development Pa...

AI summary The text outlines various attachments related to the General Rate Application, including OATT rate developments and calculations for the years 2022 to 2024, as well as references to GRA and COSS documents. Some sections are partially confidential or redacted.

1 INTRODUCTION 3 As part of its General Rate Application, Nova Scotia Power Inc., (NS Power) has reviewed and 4 updated the prices for the services offered under NS Power's Open Access Transmission Tariff 5 (OATT). 7 The OATT includes term...

AI summary Nova Scotia Power Inc. (NS Power) has updated its Open Access Transmission Tariff (OATT) as part of its General Rate Application, proposing a new pricing methodology for Voltage Control in Schedule 2. The change reflects the shift from generation units to transmission system equipment for reactive power delivery, with a focus on 97 percentile usage rather than peak hour usage. No other changes to the OATT are proposed.

Nova Scotia Power Open Access Transmission Update February 2022 1 The information that follows describes the Board-approved methodology for the development of - 2 the revenue requirements and their allocation to the transmission services o...

AI summary This document outlines the Board-approved methodology for developing revenue requirements and their allocation to the transmission services of the OATT. It provides an update on the Open Access Transmission Update as of February 2022.

7 This Update provides for new rates in OATT Schedules as follows: Schedule 1 Scheduling, System Control and Dispatch Service Updated rates Schedule 2 Reactive Supply and Voltage Control from Generation Sources Service Updated rates Schedu...

AI summary This document outlines updates to various OATT schedules, introducing new rates for services such as scheduling, system control, reactive supply, regulation, and transmission, while noting that some schedules, like Schedule 4 and Schedule 9, require no changes.

3 2.1 Transmission Services 4 - 5 The methodology for developing transmission tariff rates is shown [in Figure 2-](#page-100-3)1. - 6 Figure 2-1 - 7 Overview of the Steps taken in the Update of Transmission Rates 8 9

AI summary This section outlines the methodology for developing transmission tariff rates, referencing Figure 2-1 which provides an overview of the steps taken in the update of transmission rates.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 827 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1e Page 7 of 32 COSS CA DR-53 Attachment 1 Page 37 of 62 Nova Scotia Power Ope...

AI summary This document is a partially confidential appendix from a 2026-2027 Generation and Resource Assessment (GRA) proceeding. It references a 2022-2024 GRA SR-01 Attachment 1e and a COSS CA DR-53 Attachment 1, and includes a document titled 'Nova Scotia Power Open Access Transmission Update February 2022'.

3 2.1.8 Determination of Rates 4 5 The nominal rates for each service are determined by dividing their revenue requirements by 6 respective billing determinant. For Point-to-Point Transmission Service, the approved billing 7 determinant is...

AI summary The document outlines how nominal rates for transmission services are calculated by dividing revenue requirements by billing determinants. For Network Integration Transmission Service, the billing determinant is monthly non-coincident peak (NCP) demand, which NS Power estimates using a coincidence factor derived from a Cost of Service Study (COSS).

1 Figure 2-6 Determination of Nominal Rates by Service Determination of Nominal Rates by Service Services Revenue Requirement ($millions/yr.) Billing Determinant (MW) Nominal Rate ($/MW/yr.) 2022 Point to Point Services Transmission Servic...

AI summary The text presents a table showing the determination of nominal rates by service for Point to Point Services and Network Services in 2022, 2023, and 2024. It includes revenue requirements, billing determinants, and nominal rates for Transmission Service and Scheduling, Control & Dispatch.

3 For time differentiated Point-to-Point Service, NS Power is using Appalachian pricing. In 4 Appalachian pricing the short-term services are priced higher for an equivalent time period. 5 6 The Appalachian pricing approach defines various...

AI summary NS Power is using Appalachian pricing for time-differentiated Point-to-Point Service, where short-term services are priced higher for equivalent time periods. Rates are calculated as fractions of the yearly rate, with specific breakdowns for monthly, weekly, daily, and hourly rates. This approach aims to ensure adequate revenue collection and encourage off-peak transmission usage.

8 Figure 2-7 Summary of Transmission Service Rates Summary of Transmission Service Rates Services Units Transmission Service Scheduling, System Control & Dispatch 2022 Point-to-Point Yearly $/MW-yr 56,180.19 4,676.59 Monthly $/MW-m 4,681.6...

AI summary Figure 2-7 presents a summary of transmission service rates for 2022 and 2023, including various time-based pricing structures such as yearly, monthly, weekly, on-peak daily, off-peak daily, and hourly rates for both Point-to-Point and Network services.

5 2.1.9 Power Factor Penalty in the Transmission Tariff 7 NS Power's OATT includes a power factor penalty that will be applied for any month in which a 8 Transmission Customer has a power factor of less than 0.90. As approved by the Board,...

AI summary NS Power's OATT includes a power factor penalty for Transmission Customers with a power factor below 0.90, as approved by the Board.

9 penalty paid shall be based on Excess kVA, where Excess kVA shall be defined as: 11 Excess kVA = Max. kVA – Max. kW / 0.9 12 where 13 Max. kVA = Maximum kVA consumed during the month 14 Max. kW = Maximum kW consumed during the month 16 T...

AI summary The penalty for Excess kVA is calculated based on the difference between Maximum kVA and Maximum kW divided by 0.9, with the charge per Excess kVA set equal to the demand charge for NS Power Large Industrial.

2.2.1 Capacity Based Ancillary Services Capacity based services include the following: - Regulation and Frequency Response Service, comprising Regulation and Load Following - (OATT Schedule 3) - Operating Reserve Spinning Reserve Service (...

AI summary The document discusses capacity-based ancillary services, including Regulation and Frequency Response Service, Operating Reserve Spinning Reserve Service, and Operating Reserve Supplemental Reserve Service. These services are essential for grid reliability and are priced similarly to Transmission Services. NS Power, as the Transmission Provider, must procure sufficient resources to ensure reliability and make these services available to all Transmission Customers.

2 Figure 2-8 Revenue Requirement of Capacity Based Ancillary Services Revenue Requirement of Capacity Based Ancillary Services Services Revenue Requirement ($/kW-yr) Services Required (MW) Revenue Requirement ($1000/yr) 2022 2023 2024 2022...

AI summary Figure 2-8 presents the revenue requirement for capacity-based ancillary services from 2022 to 2024, detailing costs for various services like Regulation, Load Following, and Spinning and Supplemental services. The table includes revenue requirements per kW-yr and total revenue requirements in thousands of dollars per year.

9 2.2.5 Capacity Based Ancillary Service Rates 10 The annual cost of providing each service as a function of the usage is determined by dividing the total cost of providing the service by the usage of the respective service. For monthly Po...

AI summary The text outlines the methodology for calculating capacity-based ancillary service rates, including the division of annual costs by usage and the determination of monthly, weekly, and daily rates. Hourly service is not available due to administrative complexity. The rates are summarized in Figure 2-9.

Figure 2-9 Rates for Capacity Based Ancillary Services Rates for Capacity Based Ancillary Services Services Rate ($/MW – month) 2022 2023 2024 Regulation 195.8 218.9 226.8 Load Following 1,386.6 1,478.7 1,501.1 Operating Reserve – Spinning...

AI summary Figure 2-9 presents rates for capacity based ancillary services for the years 2022, 2023, and 2024, including services such as Regulation, Load Following, and Operating Reserve. The rates are listed in dollars per megawatt-month.

2.2.7 Reactive Supply and Voltage Control Service Reactive power must be appropriately distributed across the Transmission System since it cannot be transported efficiently. If there were no continuously variable reactive power available f...

AI summary The document discusses the necessity of reactive power distribution across the Transmission System and the associated revenue requirements. It outlines how revenue is allocated between Point-to-Point and Network Services based on long-term reservations and peak demand averages. The rate calculations follow the same methodology as transmission service rates, with the Appalachian pricing approach applied.

19 20 Figure 2-10 Reactive Supply and Voltage Control Service Rates Reactive Supply and Voltage Control Service Rates Services Units Rate Point-to-Point 2022 2023 2024 Yearly $/MW-yr $2,236.45 $2,253.81 $2,205.94 Monthly $/MW-m $186.37 $18...

AI summary The text presents a table showing the rates for Reactive Supply and Voltage Control Services from 2022 to 2024, including yearly, monthly, weekly, and daily rates for both on-peak and off-peak periods, as well as network service rates.

1 2.2.8 Energy Imbalance 2 - 3 Energy imbalance is a service that has no predictable required quantity. The cost of providing the - 4 service fluctuates with the real time cost of producing energy. For these reasons, this service is - 5 pr...

AI summary Energy imbalance is a service with unpredictable demand and fluctuating costs, priced using hourly marginal costs. NS Power does not propose changes to this mechanism in their submission.

8 2.3 Summary of Rates 9 - 10 Rates proposed for all OATT services included in this Application are set out in [Figure 2-11](#page-116-2) . For - 11 ease of comparison, the rates for all services are provided in the common units of $/MW-mo...

AI summary This section outlines the proposed rates for OATT services included in the application, presented in a common unit of \/MW-month for ease of comparison, as detailed in Figure 2-11.

13 Figure 2-11 Rates for Services in NS Power's Open Access Transmission Tariff Rates for Services in NS Power's Open Access Transmission Tariff Services Schedule in 2022 2023 2024 OATT $/MW-month $/MW-month $/MW-month Scheduling, System C...

AI summary The document presents a table showing the rates for various services under NS Power's Open Access Transmission Tariff (OATT) for the years 2022, 2023, and 2024, including services such as scheduling, system control, dispatch, and network integration.

2022-2024 GRA SR-01 Attachment 1e Page 23 of 32 COSS CA DR-53 Attachment 1 Page 53 of 62 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 843 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The text contains various attachments and pages from regulatory proceedings, including GRA (General Rate Application) and COSS (Cost of Service Study) documents. These materials are part of a regulatory process involving rate applications and cost studies, with some pages marked as partially confidential or redacted.

2022-2024 GRA SR-01 Attachment 1e Page 24 of 32 COSS CA DR-53 Attachment 1 Page 54 of 62

AI summary The text refers to regulatory documents related to a General Rate Application (GRA) and a Cost of Service Study (COSS), including attachments from different regulatory proceedings.

2022-2024 GRA SR-01 Attachment 1e Page 25 of 32 COSS CA DR-53 Attachment 1 Page 55 of 62 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 845 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Op...

AI summary This document includes a transmission update from Nova Scotia Power in February 2022, as part of a general rate application and cost of service study. It references multiple regulatory filings and attachments, though specific details are partially redacted.

ARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 845 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Open Access Transmission Update February 2022

AI summary This document is a partially confidential appendix from a 2026-2027 General Rate Application (GRA) by Nova Scotia Power, providing an update on open access transmission as of February 2022.

ned to Customer Operations is split between Transmission and Distribution and the Transmission portion ($6.2 million in 2022, $6.5 million in 2023 and $6.7 million in 2024) is included in the OATT. 2022-2024 GRA SR-01 Attachment 1e Page 27...

AI summary The Transmission portion of Customer Operations costs, amounting to approximately $6.2 million in 2022 and increasing to $6.7 million in 2024, is included in the Ontario Annual Transmission Tariff (OATT).

1 2 3 TABLE E1-1 Nova Scotia Power Inc. 2022 Transmission Tariff WACC Rate Millions of dollars 1) Interest (Carrying Cost) a) Weighted Average Cost of Capital - Pretax Proportion Cost Extended ST Debt 3.80% 0.84% 0.03% LT Debt 57.40% 4.98%...

AI summary The document provides a detailed breakdown of Nova Scotia Power Inc.'s 2022 Transmission Tariff WACC Rate, including components such as interest, weighted average cost of capital, income tax, and grants in lieu of property tax. It outlines financial figures and percentages related to transmission expenses and allocated amounts.

1 TABLE E1-1 Nova Scotia Power Inc. 2024 Transmission Tariff WACC Rate Millions of dollars 1) Interest (Carrying Cost) a) Weighted Average Cost of Capital - Pretax Proportion Cost Extended ST Debt 0.90% 1.08% 0.01% LT Debt 55.30% 4.92% 2.7...

AI summary The table presents Nova Scotia Power Inc.'s 2024 Transmission Tariff WACC Rate, including weighted average cost of capital calculations, tax considerations, and forecasted expenses related to transmission infrastructure. It also references various GRA attachments and confidential documents.

1 3 RATE VARIANCE ANALYSIS 2 - 3 The following information provides a comparison of the changes to the Transmission and - 4 Ancillary Services rates in the OATT between 2022, 2023 and 2022 and identifies the key drivers - 5 of the variance...

AI summary This section compares changes in Transmission and Ancillary Services rates in the OATT between 2022 and 2023, identifying the key drivers of the variances.

7 Rate Variance Analysis Rate 2005 2013 2014 2022 2023 2024 Percentage Change ($/MW/month) 2013/ 2005 2014/ 2013 2022/2 014 2023/ 2022 2024/ 2023 Transmission Point to Point 3,580.88 4,670.50 4,989.66 4,681.68 5,765.56 6,985.56 30% 6.8% -6...

AI summary The document presents a rate variance analysis for various transmission and ancillary services rates between 2005 and 2024, showing percentage changes for different categories such as Point to Point, Network, and various ancillary services like Regulation, Load Following, and Spinning.

2022-2024 GRA SR-01 Attachment 1e Page 32 of 32 COSS CA DR-53 Attachment 1 Page 62 of 62 1 The Company has engaged E3 to review this OATT update. In its letter, provided as Appendix 1, 2 E3 provided: 3 4 E3 was asked to provide a review of...

AI summary The Company has engaged E3 to review the OATT update. E3 evaluated the proposed pricing changes for consistency with standard rate-making practices and found the Application to be consistent with sound ratemaking principles.

COSS CA DR-58 Attachment 2 Page 1 of 22 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 860 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Date Time System (MW) 1/2/2014 18:00 2,121.6 1/2/2014 19:00 2,096.3 1...

AI summary The document contains a table showing the system load in megawatts (MW) at various dates and times from January 2014 to February 2014. This data appears to be part of a regulatory proceeding related to the 2026-2027 General Rate Application (GRA) and is part of a Cost of Service Study (COSS).

COSS CA DR-58 Attachment 2 Page 22 of 22 Date Time System (MW) 2/26/2023 8:00 1,977.2 2/24/2023 17:00 1,975.5 2/25/2023 21:00 1,973.8 2/26/2023 9:00 1,971.8 2/25/2023 9:00 1,970.6 12/22/2023 16:00 1,969.7 2/25/2023 8:00 1,966.9 12/22/2023...

AI summary The document presents a table showing system load (in MW) at various dates and times, likely related to energy system performance. It also references a partially confidential appendix from a GRA (General Rate Application) proceeding, indicating it is part of a regulatory process involving rate applications.

10 Figure 1: Canada Results Summary Utility MSS Used? Poles, Towers and Conductors Line Fixtures Transformers Nova Scotia Power (Current) PRI: 27% Customer, 73% Demand; SEC: 50% Customer, 50% Demand PRI Overhead/Underground: 27% Customer,...

AI summary The text presents a table comparing various utilities in Canada, including Nova Scotia Power (current and proposed), ATCO Electric, BC Hydro, Fortis BC Energy, and Maritime Electric, with data on the use of Minimum Service Standards (MSS) and the distribution of costs between customers and demand for poles, towers, conductors, and transformers. The table is part of a partially confidential appendix in a regulatory proceeding.

CONCENTRIC EVIDENCE: GRA COSS ELEMENTS New No 50% Customer, 50% 50% Customer, 50% 25% Customer, Brunswick Demand Demand 75% Demand Power Newfoundland Yes 37% Customer, 63% 37% Customer, 63% 28% Customer, Power Demand, Demand 72% Demand Ont...

AI summary The table outlines different utility companies and their respective customer and demand percentages, indicating varying levels of customer involvement and demand distribution across different regions and scenarios.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 896 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) COSS CA DR-61 Attachment 1 Page 8 of 19 CONCENTRIC EVIDENCE: GRA COSS ELEMENTS SECTION 3:

AI summary The document is a partially confidential appendix from a regulatory proceeding, focusing on the Cost of Service Study (COSS) and related evidence for the 2026-2027 GRA. It includes a section labeled 'CONCENTRIC EVIDENCE: GRA COSS ELEMENTS' and references 'SECTION 3'.

Size Used in the MSS - The Resource Insight evidence claims that the MSS uses an incorrect minimum-sized pole and further - claims that the Company did not provide any basis for its choice of minimum poles. 9 Similarly, - Resource Insight'...

AI summary Resource Insight argues that the MSS uses incorrect minimum-sized poles and conductors, and that the Company did not justify its choices. The NARUC Manual recommends using the minimum-sized assets currently being installed, which NS Power followed. Resource Insight's alternate calculations are deemed incorrect as they do not align with the NARUC guidelines.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 904 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) COSS CA DR-61 Attachment 1 Page 16 of 19 CONCENTRIC EVIDENCE: GRA COSS ELEMENTS - Fourth, Resource Insight do...

AI summary The text criticizes Resource Insight's recommendation for updating cost allocation methodologies, arguing that it lacks logical support and could lead to instability in cost allocation and rate design. The text emphasizes the importance of relying on precedents and the potential negative impact of abandoning them, including rate shocks for customers.

POLE ATTACHMENT RATE - Net Pole Investment and Depreciation Expense - Mr. Briggs's evidence disagrees with the derivation of the net pole investment included in the - Company's calculation of the pole attachment fee proposed in the applica...

AI summary The document discusses discrepancies in the calculation of net pole investment and depreciation expense in the context of pole attachment rates. Mr. Briggs disputes the inclusion of certain Distribution Plant and General Plant costs in the Company's calculation, but the text argues that the methodology used, which includes non-pole assets, was previously accepted by the Board and the CRTC.

Shared Usage Allocation Factor - Mr. Briggs also disagrees with the 75% ratio used to allocate the net pole investment to shared usage - between power and non-power attach[ers](#page-180-1). 28 The development of the 75% allocation factor...

AI summary Mr. Briggs disputes the 75% ratio used to allocate net pole investment to shared usage between power and non-power attachers. The allocation factor is defended as reasonable, based on cost relationships between pole components and considered a conservative estimate.

Calculations of Attachments per Pole - In his evidence, Mr. Briggs disputes the use of the pole attachment ratio of 1.31 used by the Company - in the pole attachment fee calculati[ons](#page-181-1). 31 The Company has calculated the pole a...

AI summary Mr. Briggs disputes the use of all poles as the denominator in calculating the pole attachment ratio, arguing that only poles with attachments should be considered. The Company defends the use of all poles, citing the New Brunswick Energy and Utilities Board's 2015 decision, which supports this approach to account for the investment in joint-use poles and their availability to third parties.

2 1 3 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 915 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document is part of a partially confidential appendix from a regulatory proceeding related to the Cost of Service Study Process (NSUARB M11475), containing responses from NSPI to data requests by the Canadian Association.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 933 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines NSPI's responses to data requests from the Canadian Association under the Cost of Service Study Process, as part of the NSUARB M11475 proceeding.

NON-CONFIDENTIAL 1 • Section 7.13.3 of the NSUARB Decision on NS Power's 2022-2024 GRA (M10431) which 2 approves the proposed changes to the interruptible credit. 3 - 4 Under the current 2023 COS, the interruptible credit costs of $11.796...

AI summary The text discusses the approval of changes to the interruptible credit under the 2022-2024 GRA (M10431) by the NSUARB, referencing the 2023 COS and the methodology used in the COSS. It also refers to how demand charges are determined and how they are set to match approved revenues.

1 2 3 Date Filed: October 25, 2024 NSPI (CA) DR-77 Page 3 of 3 Not all groups of interruptible customers are necessarily interrupted during each interruption event. COSS CA DR-77 Attachment 1 Page 1 of 3 PARTIALLY CONFIDENTIAL 2026-2027 GR...

AI summary The document references a Cost of Service Study (COSS) and a General Rate Application (GRA) related to a Direct Evidence Appendix in a regulatory proceeding. It notes that not all interruptible customers are interrupted during each event, and includes a partially confidential attachment.

2009 General Rate Application (NSUARB P-888) NSPI Responses to Avon Information Requests 1 Request IR-168: 2 3 With respect to AVON IR-104, 4 a) Please provide the calculations used to establish the current credit. Include the 5 estimated...

AI summary The document outlines NSPI's response to an information request regarding the calculation of the interruptible credit based on a 60 MW combustion turbine using 1996 costs. The response explains the methodology used to determine the credit value of $3.43/kVA/month.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 969 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document references the Cost of Service Study Process under matter NSUARB M11475 and includes NSPI's responses to data requests from the Commission. It is part of a partially confidential appendix in the 2026-2027 GRA proceeding.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 971 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines the Cost of Service Study Process under NSUARB M11475, including NSPI's responses to data requests from the CA. It is part of a partially confidential appendix in the 2026-2027 GRA proceeding.

10 Below-the-line (BTL) rate classes 11 12 Since the BTL rate classes of GRLF, 1P-RTP, Shore Power, BUTU, EBS, and SS do not participate 13 in DSM Programs they have not been included in the Rate and Bill Impact Analysis filed in the 14 DS...

AI summary The BTL rate classes of GRLF, 1P-RTP, Shore Power, BUTU, EBS, and SS do not participate in DSM programs and were not included in the Rate and Bill Impact Analysis. Their system cost benefit treatment may remain unchanged, as their share of assigned DSM costs in 2025 was below 0.5 percent.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 972 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines the Cost of Service Study Process under NSUARB M11475, with NSPI providing responses to CA data requests. It is part of a partially confidential appendix in the 2026-2027 GRA proceeding.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 983 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) COSS CA DR-88 Attachment 3 Page 3 of 9 Averaged for period 2016 – 2023

AI summary The document provides averaged data for the period 2016 to 2023, with a reference to a figure related to the COSS CA DR-88 Attachment 3. The information is part of a partially confidential appendix in a regulatory proceeding.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 988 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) COSS CA DR-88 Attachment 3 Page 8 of 9 Averaged for period 2016 – 2022

AI summary This document provides averaged data for the period 2016 to 2022, as part of a direct evidence appendix in a regulatory proceeding. The specific content of the data is redacted, but the context suggests it is related to the Nova Scotia Utility and Review Board (NSUARB) process.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to ESC Data Requests

AI summary This document outlines NSPI's responses to ESC data requests related to the Cost of Service Study Process under NSUARB M11475. It provides information relevant to the regulatory proceeding and may include details on cost structures, service delivery, and other operational aspects.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to ESC Data Requests

AI summary This document outlines NSPI's responses to data requests from the ESC related to the Cost of Service Study Process under the NSUARB M11475 proceeding.

NOVA SCOTIA UTILITY AND REVIEW BOARD IN THE MATTER OF: The Public Utilities Act, R.S.N.S. 1989, c.380 as amended IN THE MATTER OF: An Application by Nova Scotia Power Incorporated for Approval of Certain Revisions to its Rates, Charges and...

AI summary NSPI responded to an information request regarding the historic period used for load profiles and energy forecasts, stating that the most recent full calendar year, 2003, was used. The process involved using customer surveys, end-use models, and load research data, with anomalies like missing data and Hurricane effects addressed.

REDACTED COSS IG DR-3 Attachment 1 Page 2 of 4 Year Medium industrial Large Large L.I. RTP GR & LF Shore PHP - LRT Municipal General Industrial Interruptible Power Sales Firm Sales Sales p10 p50 p90 Not modeled classes 2024 467.9 473.8 480...

AI summary The text presents a table with electricity sales data across various customer classes from 2024 to 2030, including metrics like p10, p50, and p90. It also references a partially confidential appendix from a regulatory proceeding, indicating the data is part of a larger analysis for a regulatory decision.

NON-CONFIDENTIAL 1 Request DR-10: 2 3 Please provide the details that go into calculating the current Interruptible credit based on 4 the cost of a CT peaking unit. 5 6 • Does the current interruptible credit pricing based on a CT peaking...

AI summary The response to Request DR-10 explains that the current interruptible credit does not include estimates for avoided carbon tax. The credit is designed to compensate customers for standby readiness, not for energy cost avoidance, and is based on marginal avoided generation capacity costs using the peaker deferral method.

1,084,134 $1,030,227 $976,320 $922,413 Taxes Equity Return $1,293,774 $1,239,866 $1,185,959 $1,132,052 $1,078,145 $1,024,237 $970,330 $916,423 $862,516 $808,609 $754,701 $700,794 $646,887 $592,980 $539,072 $485,165 $431,258 $377,351 $323,4...

AI summary The text presents a series of financial figures and categories, including taxes, equity return, revenue requirement, fixed operating and maintenance costs, interest, depreciation, and other related financial metrics. These figures appear to be part of a financial analysis or reporting process.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to IG Data Requests

AI summary This document outlines NSPI's responses to data requests from the Independent Generator (IG) in the context of the Cost of Service Study Process under matter number NSUARB M11475.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to IG Data Requests

AI summary This document outlines NSPI's responses to data requests from the Independent Generator (IG) in the context of the Cost of Service Study Process under matter NSUARB M11475.

CONFIDENTIAL (Attachments Only) 1 Request DR-18: 2 3 Reference: Requests made of NS Power during October 16, 2024 Position Session by Patrick 4 Bowman and Melissa Davies on behalf of IG. 5 6 (a) Written Responses: 7 8 (i) Request NSP to sh...

AI summary The document outlines requests made by Patrick Bowman and Melissa Davies on behalf of an Independent Generator (IG) during a Position Session. The requests pertain to the impact of the MEU proposal on the cost of service, functionalization of IT investments, and modifications to energy modeling scenarios involving PHP ATL and PHP BTL.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to IG Data Requests

AI summary This document outlines NSPI's responses to data requests from an Independent Generator (IG) related to the Cost of Service Study Process under NSUARB M11475. The responses pertain to the analysis and evaluation of costs associated with service delivery.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to IG Data Requests 1 Request DR-20: 2 3 Reference: November 4, 2024 and November 5, 2024 Cost of Service Study Resolution 4 Sessions verbal request. 5 6 Clarify how Generation R...

AI summary The document discusses the determination of Generation Related Transmission Assets (GRTA) in the OATT calculations and their relationship to the transmission rate base. NSPI explains that GRTA includes assets connecting generation units to the Transmission System and are recovered directly from generation owners, not through the transmission tariff.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to MEU Data Requests 1 Request DR-1: 2 3 Information requests were made of NS Power by James MacDuff on behalf of the MEUs in 4 his e-mail "CTD with Elenchus consensus summary fo...

AI summary The MEUs have requested information from NS Power regarding the alignment of cost of service treatment for bundled and unbundled services in RtR and wholesale markets, including OATT and riders. NS Power has not yet provided the requested analysis, which the MEUs believe is essential for the integrated COSS review process.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1049 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to MEU Data Requests

AI summary This document outlines the Cost of Service Study Process as part of the NSUARB M11475 proceeding, focusing on NSPI's responses to data requests from the Market Efficiency Unit.

NON-CONFIDENTIAL 1 (a) How cost and rate disparities between bundled and unbundled services, offered by 2 single utilities, are addressed in other jurisdictions? 3 4 (b) What changes would be required to the COSS methodology to ensure alig...

AI summary The response to question (a) indicates that Elenchus' survey of Canadian and US jurisdictions did not find information on cost and rate disparities between bundled and unbundled services, as Nova Scotia's regulatory framework allows both markets to operate in parallel. Utilities surveyed were either mandated to unbundle or remained vertically integrated.

12 Simulated Revenues from 4 OATT MEUs (2023 Test Year) OATT $2,282,459 Energy Balancing and Capacity backup in Wholesale Market BUTU $3,063,902 SPILL ($1,121,076) Total $1,942,826 Energy Balancing and Capacity backup in Renewable to Retai...

AI summary The document presents a table showing simulated revenues from four OATT MEUs in the 2023 test year, including various revenue streams such as energy balancing, standby service, and bundled service under municipal rates. The data includes both positive and negative figures, indicating a complex revenue structure for these MEUs.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to PHP Data Requests 1 from the total non-fuel revenue requirement applicable to the above-the-line (ATL) rate 26 The ELCC factors, used in responses to parts (b) and (d) are con...

AI summary The text outlines NSPI's responses to PHP data requests related to the Cost of Service Study (COSS) process, referencing ELCC factors, rate classes, and confidential attachments removed due to confidentiality concerns.

REDACTED COSS PHP DR-13 Attachment 1 Page 1 of 2 Date Hour NSR without PHP NSR with PHP Residential Residential TOU Small General General Large General Small Industrial Medium Industrial Large Industrial Interruptible Large Industrial Firm...

AI summary The text provides a table with data related to NSR (Net Service Revenue) values across different dates, hours, and customer categories, including PHP (Public Health Program) and various rate types. It includes numerical values for different classes of customers and events.

REDACTED COSS PHP DR-13 Attachment 1 Page 2 of 2 Date Hour NSR without PHP NSR with PHP Residential Residential TOU Small General General Large General Small Industrial Medium Industrial Large Industrial Interruptible Large Industrial Firm...

AI summary This table presents data related to the Public Health Program (PHP) and various rate categories, including NSR without and with PHP, residential TOU, general, and industrial classifications, along with associated values and event types, such as 'Alerts but no interruptions'.

15 16 17 18 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1088 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The provided text is a partially confidential appendix from a regulatory proceeding, specifically related to the 2026-2027 General Rate Adjustment (GRA) and includes redacted information.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1089 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to PHP Data Requests

AI summary This document outlines NSPI's responses to data requests from the PHP as part of the Cost of Service Study Process under NSUARB M11475. It is part of the 2026-2027 GRA Direct Evidence Appendix.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1094 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to PHP Data Requests

AI summary The document refers to the Cost of Service Study Process under NSUARB M11475 and outlines NSPI's responses to data requests from the Public Health Program. It is part of the 2026-2027 GRA Direct Evidence Appendix.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1095 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to PHP Data Requests

AI summary The document outlines NSPI's responses to data requests from the Public Health Program (PHP) under the Cost of Service Study Process (NSUARB M11475) as part of the 2026-2027 GRA Direct Evidence Appendix.

Cost of Service Classification of the Maritime Link Strawman Report January 6, 2017 COSS PHP DR-20 Attachment 1 Page 2 of 11 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1098 of 1218 REDACTED (CONFIDENTIAL INFO...

AI summary This document is a partially confidential attachment from a cost of service study related to the Maritime Link, submitted as part of a 2026-2027 General Rate Adjustment proceeding. It includes a strawman report and is labeled as direct evidence in a regulatory process.

Cost of Service Classification of the Maritime Link Strawman Report 1 TABLE OF CONTENTS 2 3 1.0 INTRODUCTION 3 4 2.0 REGULATORY BACKGROUND 5 5 2.1 Maritime Link Project 5 6 2.2 Fuel Stability Application 5 7 2.3 Position of the Parties 8 8...

AI summary The document outlines the cost of service classification for the Maritime Link Strawman Report, including regulatory background, the Maritime Link Project, a Fuel Stability Application, and the positions of the parties involved.

1 1.0 INTRODUCTION - 3 On March 7, 2016, Nova Scotia Power Inc. (NS Power or Company) filed an application with - 4 the Nova Scotia Utility and Review Board (Board or UARB) to approve the Company's - 5 proposed three year base cost of fuel...

AI summary Nova Scotia Power Inc. filed an application in 2016 for a three-year base cost of fuel plan, leading to a Consensus Agreement with various stakeholders. The agreement included a commitment to consult on the allocation of the Maritime Link cost of service starting in 2020.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1101 of 1218 COSS PHP DR-20 Attachment 1 Page 5 of 11 Cost of Service Classification of the Maritime Link Strawman Report

AI summary This document is part of a partially confidential 2026-2027 GRA Direct Evidence Appendix and includes the Cost of Service Classification of the Maritime Link Strawman Report. It is part of a larger submission related to the COSS and PHP.

2.0 REGULATORY BACKGROUND 2 1

AI summary This section provides an overview of the regulatory background for the proceeding, including references to key entities, topics, and regulatory processes involved in the analysis of utility rates and services in Nova Scotia.

1 3.0 CONCLUSION 2 - 3 This Report is intended to facilitate a consultative process agreed to among the Parties. In the - 4 Fuel Stability Plan, the Company had proposed the Nova Scotia Block be treated in the same - 5 manner as NS Power-o...

AI summary This conclusion section outlines NS Power's preference to maintain its current cost-of-service methodology without introducing new exceptions, while requesting responses from parties by January 27, 2016, and proposing discussions at a future meeting. A report will be submitted to the Board by March 31, 2017.

Date Filed: October 8, 2024 NSPI (PHP) DR-21 Page 2 of 2 REDACTED (CONFIDENTIAL INFORMATION REMOVED) PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1110 of 1218 COSS PHP DR-21 Attachment 1 has been filed electron...

AI summary The document is a partially confidential appendix from a 2026-2027 GRA (General Rate Adjustment) proceeding, containing evidence related to the Cost of Service Study (COSS) and filed as Attachment 1. The content has been redacted, and no substantive details are visible in the provided text.

18 availability of the ML and the Muskrat Falls/LIL system. REDACTED (CONFIDENTIAL INFORMATION REMOVED) PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1126 of 1218 COSS PHP DR-27 Confidential Attachment 1 has bee...

AI summary The document discusses the availability of the Maritime Link (ML) and the Muskrat Falls/LIL system, with several confidential attachments removed from the 2026-2027 GRA Direct Evidence Appendix 12A(2). The content is partially redacted due to confidentiality.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to SBA Data Requests 1 Request DR-1: 2 3 For each generating unit, please provide: 4 5 (a) Annual revenue requirements for fixed costs 6 7 (b) Annual O&M costs 8 9 (c) Nameplate...

AI summary NSPI responded to data requests regarding the Cost of Service Study (COSS) process by explaining that it does not track annual revenue requirements and O&M costs for each generating unit separately. It also noted that depreciation and O&M costs are grouped into plant types and shared costs are included in the 'OM&G' tab of a prior general rate application.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1140 of 1218 COSS SBA DR-1 Attachment 1 Page 1 of 1

AI summary This document is a partially confidential appendix from a regulatory proceeding related to the 2026-2027 General Rate Adjustment (GRA) and includes a Cost of Service Study (COSS) SBA DR-1 Attachment 1. It is part of a larger filing and appears to be a supporting document in a rate proceeding.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to SBA Data Requests

AI summary This document outlines Nova Scotia Power Inc.'s responses to data requests from the SBA related to the Cost of Service Study Process under NSUARB M11475. It provides insights into the regulatory proceedings and data submission requirements.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1145 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to SBA Data Requests

AI summary This document outlines NSPI's responses to data requests from the SBA regarding the Cost of Service Study Process under the NSUARB M11475 matter. It provides insights into the GRA process and related regulatory proceedings.

5. Pole Attachment Fee Concentric has reviewed the development of the pole attachment fee being proposed in this GRA and finds the proposed fee to be appropriate and reasonable. The calculated fee is based on the cost of providing the nece...

AI summary Concentric finds the proposed pole attachment fee in the GRA to be appropriate and reasonable, based on cost calculations and consistency with a 2002 Board decision. The fee aims to minimize cross subsidization between NS Power and third-party attachers.

6. Charges associated with Regulation 7 NS Power is proposing to update charges associated with Regulation 7 of the Board-approved Regulations. These charges were last updated as part of the 2013/2014 GRA. Concentric reviewed the proposed...

AI summary NS Power is proposing to update charges under Regulation 7, last updated in 2013/2014. Concentric has reviewed the proposed charges and found them appropriate and reasonable, as they are based on the cost incurred by the Company to provide the services.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1156 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) COSS SBA DR-6 Attachment 1 Page 2 of 24

AI summary The document is a partially confidential appendix from a regulatory proceeding related to the 2026-2027 GRA, including a COSS SBA DR-6 attachment. It contains redacted information and is part of a larger set of evidence.

ACCOUNT SEGMENT Account Segment Account Segment Description Value 111050 PETTY CASH FUNDS 111600 CASH SCOTIABANK 111650 CASH ROYAL BANK IMPREST ACCOUNT 111700 CASH BNS US FUNDS 111800 CASH CIBC 111850 CASH ROYAL BANK 111900 CASH CIBC US BA...

AI summary The text presents a table of account segments and their descriptions, including petty cash funds, accounts receivable, inventory, and income tax receivable. These accounts are part of a financial reporting structure, likely used for regulatory purposes.

COSS SBA DR-6 Attachment 1 Page 11 of 24 417270 REG OATT ENERGY IMBALANCE 417280 REG OATT OPERATIVE RESERVE 417290 REG OATT NETWORK SERVICES 417300 REG GRID SALES REVENUE 417500 REG CONNECTION CHARGES 417550 REG LATE PAYMENT CHARGES 417600...

AI summary The document lists various revenue codes and financial items related to energy and utility services, including charges for energy imbalances, connection fees, late payments, and other miscellaneous revenues. It also includes entries related to amortization, foreign exchange, and pension costs.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1185 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) COSS SBA DR-7 Attachment 1 Page 6 of 33 FAM POA Main Document (Redline) – Revision 11 / February 2023

AI summary This document is a redlined revision of the FAM POA Main Document from February 2023, part of the 2026-2027 GRA Direct Evidence Appendix 12A(2). It includes the COSS SBA DR-7 Attachment 1 and is part of a partially confidential regulatory proceeding.

- GHG Emission Compliance Program costs 502500 REG FUEL DIESEL OIL CONSUMED 504450 REG GRID SALES FUEL DIESEL PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1195 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document discusses the costs associated with the GHG Emission Compliance Program, including specific line items related to fuel consumption and grid sales fuel. It is part of a partially confidential GRA Direct Evidence Appendix.

- Transportation Costs 502600 REG FUEL ADDITIVES CONSUMED 502650 REG FUEL LIMESTONE CONSUMED 504200 REG GRID SALES MERCURY SORBENT 504250 REG GRID SALES MERCURY SORBENT FX COSS SBA DR-7 Attachment 1 Page 17 of 33 PARTIALLY CONFIDENTIAL 202...

AI summary The document includes tables listing transportation costs related to fuel additives and mercury sorbent consumed, as well as references to a partially confidential document related to the 2026-2027 General Rate Application (GRA) and a Cost of Service Study (COSS).

3.2.11 Grid Sales Revenue Revenue from power exports net of any transmission tariffs and losses. This includes Renewable Energy Credits arising out of the sale of renewable energy in the New England market.

AI summary This section discusses grid sales revenue, which includes revenue from power exports after accounting for transmission tariffs and losses, as well as Renewable Energy Credits from sales in the New England market.

3.2.12 Natural Gas Revenue Revenue from the resale of natural gas.

AI summary This section discusses revenue generated from the resale of natural gas, highlighting a key financial component for the utility provider.

for the current period. COSS SBA DR-7 Attachment 1 Page 31 of 33 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1210 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) FAM POA Main Document (Redline) – Revision...

AI summary The text defines various terms related to NS Power's rate applications, fuel costs, and compliance filings. It outlines the Base Cost of Fuel, compliance filings, and other key terms used in the regulatory process.

Generally Accepted Rate Making Principles - ➤ Bonbright Principles (1961 and 1988) - ➤ Regulators restructure them but generally cover the same concepts with adaptation to capture jurisdiction-specific legislated policy requirements (e.g.,...

AI summary The document discusses the Bonbright Principles (1961 and 1988) and their adaptation by regulators to incorporate jurisdiction-specific policies such as clean energy and preferential rates. These principles are also known as the Cost Allocation and Rate Design (CARD) principles.

Practical-related Attributes - 9. The related, practical attributes of simplicity, certainty, convenience of payment, economy in collection, understandability, public acceptability, and feasibility of application. - 10. Freedom from contro...

AI summary The text discusses practical-related attributes of utility rates, emphasizing simplicity, certainty, convenience, economy in collection, understandability, public acceptability, and feasibility of application, as well as freedom from controversies regarding interpretation. It references a textbook on public utility rates.

Cost Allocation Issues to be Addressed - Stakeholders to provide input - Elenchus to develop an issues list for this process, by considering stakeholder input and identifying: - > Issues where there is consensus - Issues requiring further...

AI summary Stakeholders are invited to provide input on cost allocation issues, with Elenchus tasked to develop an issues list based on this input. The list will categorize issues into consensus items, those requiring further analysis, and areas of disagreement.

2026-2027 GRA Direct Evidence Appendix 12A(3) Page 55 of 310 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted page from a 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 12A(3), which is part of a regulatory proceeding. It contains confidential information and is related to Nova Scotia Power's rate application process.

Pricing : Rate Setting Process from a COS Perspective (2024 revenue figures) - Electric Services ($1.9 billion or 98.2%) - Bundled Service Electric Rates ($1.9 Billion or 99.6% of Electric Serv.) - Base Cost Rates (BCR or above-the-line AT...

AI summary The document outlines the 2024 revenue figures for electric and non-electric services, detailing the distribution of bundled and unbundled service rates, including base cost rates, annually adjusted rates, and cost trackers with true-up mechanisms. It also mentions various market segments and services under non-electric miscellaneous services.

NS Power's COS Calculation Process Flowchart

AI summary The document presents a flowchart outlining NS Power's Cost of Service (COS) calculation process, illustrating the steps involved in determining the cost of service for regulatory proceedings.

NS Power's COS Spreadsheet Calculation Process - Data Input Collection: Input Data, Input Data Two - Class Usage: Exh 9a 9c - o Usage based allocator factors in Exh 8a - Rate Base apportionment to rate classes - o Functionalization: Exh 2...

AI summary This document outlines NS Power's Cost of Service (COS) spreadsheet calculation process, including data input collection, class usage, rate base apportionment, cost apportionment, and cost summaries. Exhibits and external sources are referenced for methodology and analysis.

COS Treatment of Maritime Link - 2017-2019 Fuel Stability Plan (M07348) UARB approves Settlement Agreement wherein parties agree to conduct consultations to address COS treatment of ML costs. - Following stakeholder consultations NS Power...

AI summary The document outlines the treatment of Maritime Link (ML) costs within the Cost of Service (COS) framework. A 2017-2019 Fuel Stability Plan (M07348) led to consultations, resulting in a strawman report recommending that Nova Scotia Block costs be classified as NS Power-owned hydro based on the SLF. Surplus energy, representing non-firm imports, was fully classified to energy, and all approved FAM rates reflect this treatment.

• The current 2023-2025 DSM Resource Plan was approved by NSUARB on December 6, 2022 with the following performance targets. Year Investment Lifetime Benefits First-Year Energy Savings Lifetime Energy Savings Weighted Average Measure Life...

AI summary The 2023-2025 DSM Resource Plan was approved by the NSUARB on December 6, 2022, with specific performance targets outlined for investment, energy savings, and demand reduction across the years 2023 to 2025. The DSM Riders in effect recover 2024 DSM Budget costs of $57.5 million, which is about 3% of NS Power's 2024 revenue requirement of $1.9 billion.

Rationale behind SLF-based classification - Historically, NS Power's treatment of generation has fallen into a category of energy weighting methods which is designed to reflect the intent of generation assets to produce cheaper energy in a...

AI summary This section discusses the historical use of energy weighting methods by NS Power, including the shift from the Average and Excess (AE) method to the SLF method in 1995. It highlights that the change was minimal and that the UARB and the Board upheld the SLF method, with specific guidance on the classification of environmental compliance and fuel conversion costs. The 2013 COS decision also supported the continued use of the SLF method.

HCM has been used for about a decade in Iowa and Illinois • In 2020, the Iowa Board found that the HCM "continues to produce stable, just, and reasonable rates." A 2023 compliance filing continued to show stability and reasonableness, and...

AI summary The Hybrid Cost Model (HCM) has been used for about a decade in Iowa and Illinois. In 2020, the Iowa Board found that HCM continues to produce stable, just, and reasonable rates. A 2023 compliance filing also showed stability and reasonableness, and was not contested by any party.

MidAmerican doesn't collect transmission costs using HCM method • Cost-causation for generation and transmission are closely aligned

AI summary MidAmerican does not use the Hybrid Cost Model (HCM) method to collect transmission costs. The document notes that cost-causation for generation and transmission are closely aligned.

Table 2.5.1 NB Power Corporation Revenue-to-Cost Ratio Results for 2023/24 Current Rate Classes Revenue-to-Cost Ratio Results for 2023/24 Current Rate Classes Fiscal Years Ending March 31 (in millions $) (iii iiiiiiiiiiii 4) (1) (2) (3) (4...

AI summary This memo compares the Probability of Dispatch (POD) method with the MidAmerican Hourly Cost Model (HCM) method, highlighting their similarities and differences. The document includes a table showing revenue-to-cost ratio results for NB Power Corporation for different rate classes in 2023/24.

COS Cost Allocation NS POWER COS STAKEHOLDER WORKING GROUP APRIL 29, 2024

AI summary This document outlines the NS Power COS Stakeholder Working Group meeting held on April 29, 2024, focusing on the allocation of Cost of Service (COS) in the utility sector. The meeting likely involved discussions on cost allocation methodologies, stakeholder input, and related regulatory considerations.

hsue Id -New resources, including having some NSP Owned vs. a PPA ? SBA View - The SBA believes that the cost payment method should not determine the cost allocation methodology applied. The SBA preferences stated in Issue 1 a above can be...

AI summary The SBA argues that the method of cost payment should not influence the cost allocation methodology. It suggests that the preferences outlined in Issue 1a can be applied to any revenue requirement model, whether the resources are NSP-owned or under a PPA.

Issue 2c - Sub functionalization of transmission resources 'assets EHV and HV? SBA View - The SBA is still reviewing the implications on 'below the line' rate classes.

AI summary The Stakeholder Board of Appeal (SBA) is reviewing the implications of sub functionalization of transmission resources, specifically assets EHV and HV, on 'below the line' rate classes.

Bundled vs Unbundled Electric Services - Electric Services ($1.9 billion or 98.2%) - Bundled Service Electric Rates ($1.9 Billion or 99.6% of Electric Serv.) - Base Cost Rates (BCR or above-the-line ATL) changed in General Rate Application...

AI summary The document outlines the distribution of electric services, highlighting the dominance of bundled services (98.2%) over unbundled services (0.4%). It breaks down the bundled service rates into base cost rates, annually adjusted rates, and cost trackers with true-up mechanisms. Unbundled services include wholesale municipal and renewable to retail markets. Non-electric services account for a small portion of total revenue.

OATT Rates Schedule Description $ / MW $ / MW $ / MW 2014 - 2022 2023 as based on Costs % Change 2023 as approved subject to 1.8% Cap % Change Schedule 1 Sched., Sys. Cntrl. & Disp. For Point-To-Point/Monthly $416.45 $404.41 -2.89% $404.41...

AI summary The document presents a table comparing OATT rates across different schedules and time periods from 2014-2022 to 2023, with changes in costs and approved rates subject to a 1.8% cap. Rates have varied significantly, with some increasing by over 138% and others decreasing slightly.

Applicable to distribution-connected RtR Customers receiving supply from LRS Data Class er Charge onth Distributio • Demand Cha arge $/kVA Minimum Charge $ , Rate Class 2023 2024 2023 2024 2023 2024 2023 2024 Domestic Service ( Standard Of...

AI summary The text presents a table of rate classes and charges applicable to distribution-connected RtR customers receiving supply from LRS, including details for various service types and years 2023 and 2024.

2023 2024 Variance Administration Charge ($/customer/month) $374.89 $386.13 $11.25 Energy Charge (cents per kWh) Fuel Cost (cents per kWh) 11.042 8.322 (2.721) Fixed Cost Adder 3.264 3.264 0.000 Total 14.307 11.586 (2.721) Energy Credit (c...

AI summary The document provides a comparison of administration and energy charges between 2023 and 2024, including changes in fuel costs and energy credits. The administration charge increased by approximately 3%, while the energy charge decreased due to a reduction in fuel costs.

Base Cost Rate Comparison (2016 Rates) Unbundled Rates (do not include LRS generation costs) Bundled Service Rate Variance % Var DOMESTIC CLASS DT OATT EBS SS RTT Total 0% Top-up 0% Spill 4.0 1.6 0.0 1.2 4.0 10.9 15.6 4.7 30% 20% Top-up 20...

AI summary The document presents a comparison of base cost rates for different customer classes in 2016, including unbundled rates, bundled service rates, and their variances. It includes metrics such as DOMESTIC CLASS, GENERAL RATE CLASS, and INDUSTRIAL LARGE FIRM SERVED A, along with various components like DT, OATT, EBS, SS, and RTT.

OATT vs COSS: Differences in Transmission Revenue Requirement Expense 2013 2014 (in thousands of dollars) OATT COSS OATT COSS Operating, Maintenance and General (OM&G) $26,586 $26,104 $26,762 $26,286 Depreciation $24,072 $26,167 $25,639 $2...

AI summary The text presents a comparison of transmission revenue requirements between OATT and COSS for the years 2013 and 2014, highlighting differences in expenses such as OM&G, depreciation, and fixed cost recovery deferral. The data is sourced from Multeese IR-51 and 2013 GRA P-893.

• OATT Service Uasge (MW Demand) Allocation Factors Point-to-Point (Long-term Firm Reservation) 330 16.8% Network (In-Province) 1,635 83.2% Total 1,965 100.0% • COSS Energy Requirment Demand GWh % Share 3CP % Share ( 1) DOMESTIC 5,040.9 50...

AI summary The document presents tables detailing the allocation of service demand and energy requirements across various categories, including Point-to-Point, Network, and different industrial and domestic classifications. The data highlights the distribution of energy usage and demand share among different sectors.

• OATT - priced in $/kW - reflective of test year costs subject to caps as settled with stakeholders

AI summary The OATT is priced in dollars per kilowatt and reflects test year costs that are subject to caps agreed upon with stakeholders.

Conclusions - In spite of the same system-based embedded costs being used in pricing of bundled and unbundled services there are differences in cost of power to individual customers between the two markets due to - LRS' generation costs be...

AI summary The document highlights differences in cost of power between bundled and unbundled markets, despite using the same system-based embedded costs. These differences arise from varying generation costs, transmission revenue requirements, and rate structures for Energy Balancing, Standby Service, and OATT. Open market rates are not designed to match bundled service rates but to replace them.

Agenda - 1. Brief overview of the current COSS Model - 2. Summary of COSS Model runs - 3. Walk through each COSS Model run - 4. Discussion

AI summary The agenda outlines a presentation on the Customer Outage Service Standards (COSS) Model, including an overview, summary of model runs, a detailed walk-through of each run, and a discussion. The document includes a placeholder image.

6. Sub-functionalize Transmission into EHV and HV Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC 102 216 - 317 97.63 97.59 -0.04 ( 2) SMALL GENERAL 5 15...

AI summary This section discusses the sub-functionalization of transmission into EHV and HV, presenting a table with changes in allocated costs and revenue to expense ratios across various categories such as domestic, industrial, and municipal. The data shows minor changes in ratios, with some categories experiencing slight increases and others slight decreases.

7.No Sub-functionalization of Poles and Conductors between Primary and Secondary Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC -2,426 - -207 -2,633 97....

AI summary The table presents changes in total allocated costs and revenue to expense ratios for various customer classes in the context of sub-functionalization of poles and conductors between primary and secondary systems. The data includes cost changes and ratios for domestic, small general, general, large industrial, and other customer classes, with a focus on financial impacts.

8. Allocate Service Drops on the Same Basis as Meters Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC - - 264 264 97.63 97.60 -0.03 ( 2) SMALL GENERAL -...

AI summary The table presents the allocation of service drops based on customer categories, showing changes in total allocated costs and the revenue to expense ratio for each category. The data includes various customer types such as domestic, small general, general, industrial, PHP, municipal, and unmetered.

9. Allocate Service Drops with the Customer Count Allocator Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC - - 652 652 97.63 97.56 -0.07 ( 2) SMALL GENE...

AI summary The table presents the allocation of service drops using the Customer Count Allocator, detailing changes in total allocated costs, revenue to expense ratios, and approved figures for different customer categories in 2023. The data shows minor variations across categories, with some categories showing slight increases or decreases in ratios.

10a. Classify Steam Generation by Capacity Factor Instead of SLF Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC 50,607 -41,456 1 9,152 97.63 96.60 -1.03...

AI summary The document presents a table analyzing the change in total allocated costs and revenue to expense ratios for various customer classes under a proposal to classify steam generation by capacity factor instead of SLF. The table shows mixed results, with some classes experiencing cost reductions and others increases.

10b. Classify All Generation that is Currently Classified by SLF by Capacity Factor Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC 52,022 -42,617 12 9,4...

AI summary The table presents a classification of generation by capacity factor, detailing changes in allocated costs and revenue to expense ratios for various categories such as domestic, general, industrial, and municipal. The data includes figures for demand, energy, customer costs, and total changes in costs, along with revenue to expense ratios for approved and scenario-based values.

11. MEUs Included as an ATL Rate Class - ➢ Purpose: Provide an indication of the costs that would be allocated to MEUs that take OATT service if they are included in the COSS as an ATL rate class. - ➢ Model Notes: The four municipal custom...

AI summary This section outlines the inclusion of MEUs as an ATL rate class in the COSS, noting that four municipal customers taking OATT service are instead included in the 'Municipal OATT' rate class. Transmission costs for OATT service are allocated to all rate classes, while revenues include only OATT revenues.

11. MEUs Included as an ATL Rate Class Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC -1,840 -3,789 221 -5,407 97.63 98.25 0.62 ( 2) SMALL GENERAL -103...

AI summary The table outlines the change in total allocated costs and revenue to expense ratios for different MEU (Metered Electricity User) rate classes, including domestic, industrial, and municipal categories, with a sub-total showing overall changes and ratios.

2. New Intermediate Generation Sub-function Classified to Demand and Energy by Weighted-Average Capacity Factor Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DO...

AI summary The document presents a table analyzing the change in total allocated costs and revenue to expense ratios for various customer segments under the new intermediate generation sub-function classified by weighted-average capacity factor. The data shows a mix of cost increases and decreases across different categories, with some segments showing slight changes in the revenue to expense ratio.

3. Transmission Classified 100% as Demand Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC 45,145 -36,953 - 8,192 97.63 96.70 -0.93 ( 2) SMALL GENERAL 2,3...

AI summary The document presents a table showing changes in total allocated costs and revenue to expense ratios for various customer categories in the transmission classified 100% as demand. The table includes data for domestic, industrial, municipal, and other categories, with a sub-total indicating no overall change in costs.

4. PHP as a Separate ATL Rate Class Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC -17,226 57 391 -16,777 97.63 99.58 1.95 ( 2) SMALL GENERAL -895 30 25...

AI summary The section discusses the allocation of costs and revenue to expense ratios for different rate classes, including PHP as a separate ATL rate class. It presents data on changes in total allocated costs and revenue to expense ratios for various categories such as domestic, small general, general, and industrial rate classes.

1. NSP Positions Change in Total Allocated Costs ($000) Revenue to Expense Ratio Demand Energy Cust. Total Approved 2023 Scenario Change ( 1) DOMESTIC 39,029 -43,342 393 -3,920 97.63 98.08 0.45 ( 2) SMALL GENERAL 2,143 -2,929 25 -761 97.14...

AI summary The table outlines changes in total allocated costs and revenue to expense ratios across various customer classes for NSP, including domestic, small and large general, industrial, PHP, and municipal. The data highlights significant variations in cost changes and revenue ratios across different segments.

Agenda - Outstanding Question around OATT design from Session #8 - Pricing of electric services to Wholesale Municipalities (MEUs) in bundled and wholesale markets - o How do rates in wholesale and renewable to retail (RtR) markets compare...

AI summary The agenda item outlines ongoing discussions about the OATT design, pricing of electric services to Wholesale Municipalities, and proposed amendments to OATT, including pricing foundations, transmission costs, and revenue requirements.

Why are there differences in how usage determinants are set between OATT and COSS? - By design, costs of service are allocated to rate classes based on their forecasted usage of energy, demand and customer counts in the COSS. - In contrast...

AI summary The differences in how usage determinants are set between OATT and COSS arise from design choices. COSS allocates costs based on forecasted usage, while OATT has traditionally used actual usage since its inception in 2005.

Rate Effect of Applying Forecasted Usage (source: Trans-Fig 5-9 tab) Schedule Description $ / MW $ / MW 2023 as based on Costs filed in the GRA 2023 as based on Costs with Revised Usage % Change Schedule 1 Sched., Sys. Cntrl. & Disp. For P...

AI summary The document presents a comparison of forecasted usage costs for various schedules in 2023, based on the GRA and revised usage. It shows a decrease in costs across all schedules, with percentage changes ranging from -2.52% to -3.02%. This analysis is part of a rate effect evaluation.

NS Power's proposal - As indicated in response to NSUARB IR-201 in the 2023-2024 GRA proceeding there was a difference of 53 MWs between the test year usage of annual average 12 CP of 1,635 MWs under the Network Service, reflecting two-yea...

AI summary NS Power acknowledges a discrepancy between actual and forecasted usage in its 2023-2024 GRA proceeding, noting a 53 MW difference. The company intended to set OATT rates based on 2023 forecasts but omitted doing so. NS Power supports future alignment of OATT rates with forecasted usage to better match bundled service rates.

Pricing of electric services to Wholesale Municipalities in bundled and wholesale markets

AI summary The document discusses the pricing of electric services provided to Wholesale Municipalities in both bundled and wholesale markets, focusing on the mechanisms and considerations involved in setting these prices.

Pricing Options Bundl led Service Ор en Ma rket Muni icipal Tariff 1) TTAO Network S Service) Who lesale I Market Retail Mar ket BU ITU SPILL Energy B alancing Stand lby Service R т Distribution Tariff Rate Usage Tranmiss ion Ancillary Gen...

AI summary The document outlines various pricing options for different service types, including bundled and unbundled services, with detailed breakdowns of customer charges, demand charges, energy charges, and subtotals. It includes rates for municipal tariffs, wholesale and retail markets, and various cost components such as base cost of fuel, non-fuel costs, and demand charges.

Municipal Tariff Rates - Revenue requirement reflects costs of three services areas of generation, transmission and retail - As above-the-line (ATL) & FAM rates they are subject to cost deferrals, rate capping and smoothing, their cost req...

AI summary The document discusses municipal tariff rates, which include revenue requirements covering generation, transmission, and retail services. These rates are subject to cost deferrals, rate capping, smoothing, and adjustments related to the R/C ratio and fuel costs. A two-part tariff structure, consisting of energy and demand charges, is applied for ratcheted non-coincident demands.

Open Market rates - reflect costs of only one service area at a time: generation vs transmission. - As partial service rates they are not typically subject to smoothing and caps. - BUTU rate has been subject to the FAM and a four-year phas...

AI summary Open Market rates reflect costs for specific service areas like generation and transmission. They are not typically subject to smoothing and caps, though the BUTU rate has undergone a four-year phase-in. OATT costs are formula-based, and the use of contract or coincident peak demands is noted. Unit revenue curves by load factors are recommended for comparison.

More detailed Comparison Municipal Tariff Charges (In effect) OATT Tranmission Charges (In Effect) Demand Energy Customer Demand Energy Customer Fuel Non-Fuel Total Fuel Non-Fuel Total Fuel Non-Fuel Total Fuel Non-Fuel Total Generation $0....

AI summary The document presents a detailed comparison of various tariff charges, including municipal, OATT transmission, BUTU, and EBS/SS tariffs. It outlines the breakdown of demand, energy, and customer charges across different categories such as generation, transmission, distribution, and retail, highlighting differences in fuel and non-fuel costs.

Simulated Transmission Costs Compared: OATT vs Municipal Tariff Botto m Energy Block Тор Energy B lock To otal Load t Charges Usage Rev enue Usage Rev enue Usage Reve nue (c/kWh or $/kW) Amount c/kWh Amount c/kWh Amount c/kWh Monthly Load...

AI summary The document compares simulated transmission costs under the OATT and municipal tariff for different load factors. It shows that the municipal tariff results in lower transmission costs compared to OATT, with variance percentages indicating significant differences in demand charges and total costs.

Transmission Cost Comparison Recap - 2024 Blended unit transmission costs (c/kWh) are lower under the OATT than the Municipal Tariff over a broad range of load factors starting at LF of 35%. - MEUs pay currently less for transmission under...

AI summary The 2024 blended unit transmission costs under the OATT are lower than the Municipal Tariff for load factors starting at 35%. However, the current OATT is capped at a 1.8% increase, and bundled service costs to OATT MEUs are higher than in the 2023 COSS. These findings may need reassessment after the costing methodology is revised as part of this proceeding.

Differences in services and rates between Wholesale and RtR markets - The wholesale and RtR market services and rates were subject to separate regulatory proceedings - Wholesale market is designed to meet needs of 5 MEUs who run their own...

AI summary The wholesale and RtR markets have distinct regulatory proceedings and service designs. The wholesale market serves 5 MEUs with their own distribution systems, while the RtR market serves retail customers through Licensed Retail Suppliers. The RtR market adapted wholesale services to fit its needs, such as using actual hourly imbalances instead of scheduled ones, leading to the creation of Schedule 4A under the OATT.

Transmission Cost and Rate Design Processes Compared

AI summary The document compares transmission cost and rate design processes, likely discussing methodologies, cost allocation, and regulatory considerations involved in setting rates for transmission services.

OATT COSS Control CentreOther Total Direct 2,978 12,109 15,087 Corporate OH 2,682 10,909 13,591 Total 5,660 23,018 28,678 Source: OMG Calc tab Source: Exh 4.1 Direct 15,087 Corporate OH 13,662 Total 28,749 - The discrepancy between Corpora...

AI summary The text presents a discrepancy in Corporate OH calculations, noting that the OATT value is determined based on the share of transmission in above-the-line classes rather than the system total, which includes below-the-line classes.

OATT Net Plant Value Share Applicable Value Transmission $833.8 Plus Applicable Share of General Property $444.6 20.4% $90.9 Working Capital $648.7 20.4% $132.6 Total $1,057.2 NPV WACC Interest $1,057.2 2.84% $30.06 Common $1,057.2 3.72% $...

AI summary The document discusses the calculation of Net Plant Value (NPV) and its components, including Transmission, General Property, Working Capital, and their applicable shares. It highlights a difference in interest tax returns due to the use of a formulaic approach under OATT versus functionalization based on shares in the service area rate base.

Proposed Amendment to OATT Revenue Req. (source: "Trans-Fig 5-9" tab in OATT Spreadsheet)

AI summary The document presents a proposed amendment to the OATT Revenue Requirement, referencing the 'Trans-Fig 5-9' tab in the OATT Spreadsheet. This amendment likely pertains to adjustments in revenue requirements for transmission services under the Ontario Electricity Reliability Corporation's Transmission Tariff.

Proposed Amendment to OATT Revenue Req: Rate Effect Schedule Description $ / MW 2023 as filed based on Costs and Corrected $ / MW 2023 based on Costs as Amended % Change Schedule 1 Sched., Sys. Cntrl. & Disp. For Point-To-Point/Monthly $24...

AI summary The document presents a proposed amendment to the OATT revenue requirement, showing changes in costs across various schedules. Most schedules show no change, while Schedules 7 and 10 show a decrease of 8.54%. The overall impact on Point-to-Point and Network Ancillary Generation and Transmission Subtotals is a decrease of 5.33% and 5.16%, respectively.

Safety Moment - Never ignore potential health warning signs. - Prioritize your well-being and seek medical attention when something feels off. Network Components 2026-2027 GRA Direct Evidence Appendix 12A(3) Page 292 of 310 REDACTED (CONFI...

AI summary This document discusses the objective of updating the Loss Allocation methodology for NSPI customer types using various data models and georeferenced information system (GIS) data as part of the 2026-2027 GRA Direct Evidence Appendix 12A(3).

Non-Technical Losses Non-technical losses refer to differences between the energy delivered and the energy that is billed or effectively consumed. These losses are primarily caused by : - Unauthorised consumption - Metering inaccuracies -...

AI summary Non-technical losses, which include unauthorized consumption, metering inaccuracies, and unaccounted consumption, are discussed with an initial industry benchmark of 1.2% adopted and later adjusted based on forecasted energy losses. The document references a GRA Direct Evidence Appendix for further details.

Who Contributes What ? NSPI's network connects customers at different voltage levels, defining their impact on system : - Secondary-level customers. - Primary-level customers. - Transmission-Connected customers.

AI summary The document discusses how different customer voltage levels (secondary, primary, and transmission-connected) contribute to the system impact within NSPI's network. It includes figures that likely illustrate these contributions.

Based on customer type allocation on different segments, a general table was built to demonstrate the proportion of loss allocated for each customer type. Class Distribution Transmission Non Technical (1) Domestic 56.44% 49.08% 54.06% (5)...

AI summary A table is presented showing the proportion of energy losses allocated to different customer types across distribution, transmission, and non-technical segments. The data is based on annual energy and loss evaluations, and energy sold by each customer type.

1 INTRODUCTION Elenchus reviewed the presence and form of unbundled rates offered in each provincial jurisdiction in Canada to provide context for NS Power and stakeholders in the COSS methodology review. Unbundled rates are uncommon in Ca...

AI summary The document discusses the presence and form of unbundled rates in Canadian provinces, noting that they are uncommon except in Alberta and Ontario. It explains the difference between unbundled and bundled rates and mentions that some provinces allow unbundled rates but do not currently implement them.

2.1 ONTARIO AND ALBERTA Ontario and Alberta have deregulated electricity structures with separate generation, transmission, and distribution utilities so their rates are unbundled. Transmission and distribution rates are set separately bas...

AI summary Ontario and Alberta have deregulated electricity markets, with separate utilities for generation, transmission, and distribution. Rates are unbundled, with transmission and distribution rates set based on cost-of-service studies, while generation rates are determined by hourly market prices. Customers can procure electricity from retailers without affecting transmission and distribution charges.

2026-2027 GRA Direct Evidence Appendix 12A(4) Page 4 of 18 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - 4- Bundled/Unbundled Review May 9, 2024

AI summary This section of the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 12A(4) discusses the Bundled/Unbundled Review that took place on May 9, 2024. The content has been redacted, indicating that it contains confidential information.

2.3 SASKATCHEWAN SaskPower's rates are generally bundled, but there are exceptions for large industrial customers in certain circumstances. SaskPower's Capacity Reservation Service charges can be considered unbundled rates and it is in the...

AI summary SaskPower's rates are generally bundled, with exceptions for large industrial customers. The company is developing unbundled rates for renewable energy procurement and has introduced an Intra-Provincial Transmission Tariff. The Bary Correction adjusts rates to recover demand-related costs from high-load-factor customers. The Power Corporation Act grants SaskPower exclusive rights to supply and distribute power in Saskatchewan.

2.4 MANITOBA Manitoba Hydro does not offer unbundled rates. The Manitoba Hydro Act states that "Subject to the regulations, no person other than the corporation shall engage in the retail supply of power in Manitoba".[12](#page-7-0) Manito...

AI summary Manitoba Hydro does not currently offer unbundled rates, as restricted by the Manitoba Hydro Act. However, it is considering the possibility of introducing unbundled rates in the future, as noted in its rate design evidence for the 2023/24 and 2024/25 General Rate Applications.

2026-2027 GRA Direct Evidence Appendix 12A(4) Page 6 of 18 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - 6- Bundled/Unbundled Review May 9, 2024 Régie shall then adjust the rate of the electric power distributor in accordance with the cond...

AI summary The document discusses the adjustment of electric power distributor rates based on a pilot project, but notes that Hydro Quebec has not proposed such a program, as indicated by its annual report on electricity prices.

2.6 NEW BRUNSWICK NB Power does not offer unbundled rates. New Brunswick's Electricity Act gives NB Power the exclusive right to sell and supply electricity to customers or municipal distribution utilities.[16](#page-8-1) Municipal distrib...

AI summary NB Power does not offer unbundled rates in New Brunswick, as per the Electricity Act, which grants NB Power exclusive rights to sell and supply electricity. Municipal utilities may source electricity from other suppliers under specific conditions, such as legacy contracts or clean energy for particular industrial uses.

2.7 NEWFOUNDLAND AND LABRADOR Newfoundland and Labrador Hydro (NLH) does not offer unbundled rates. The Electrical Power Control Act gives NLH the exclusive right to supply, distribute, and sell power.[18](#page-8-3) The act includes provi...

AI summary Newfoundland and Labrador Hydro (NLH) has an exclusive right to supply, distribute, and sell electricity under the Electrical Power Control Act. Retailers are restricted to procuring electricity only from NLH, and the document references legal provisions and external sources related to electricity pricing and legislation.

2.8 PRINCE EDWARD ISLAND Maritime Electric does not offer unbundled rates. The Electric Power Act gives Maritime Electric exclusive right to the production, transmission, distribution or furnishing of electric energy in the province, excep...

AI summary Maritime Electric does not offer unbundled rates in Prince Edward Island due to the Electric Power Act granting it exclusive rights to electricity production and distribution, except in Summerside. It also notes that retail access is not required under the FERC Pro Forma Tariff and that customers have no interest in purchasing electricity from other suppliers.

3 SUMMARY Unbundled rates are not common in Canada. Retail access that is required for unbundled rates to be applicable is only present in Alberta, Ontario, and Nova Scotia. In each of the provinces with unbundled rates, plus British Colum...

AI summary Unbundled rates are not common in Canada and are only present in Alberta, Ontario, and Nova Scotia. These rates were created in response to government legislation permitting retail access. BC Hydro and SaskPower are the only other examples of vertically integrated utilities with unbundled rates, but no customers took service with unbundled rates, resulting in no impacts to revenue recovery or rates.

2026-2027 GRA Direct Evidence Appendix 12A(4) Page 9 of 18 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - 9- Bundled/Unbundled Review May 9, 2024

AI summary This document is part of a regulatory proceeding in Nova Scotia, specifically related to the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 12A(4). It includes a section titled 'Bundled/Unbundled Review' dated May 9, 2024, and contains a redacted image reference.

4 APPENDIX: HYDRO QUEBEC RATE COMPARISON Hydro Quebec publishes annual electricity rate comparisons[21](#page-11-0) that include profiles of each utility that list retail and wholesale access. The table below provides a summary of those pr...

AI summary This section introduces Hydro Quebec's annual electricity rate comparisons, which include utility profiles detailing retail and wholesale access. A summary of these profiles is provided in a table.

2.1 ALBERTA Alberta is deregulated so the transmission charges applicable to rate classes are in the form of pass-through charges allocated by distributors. The AESO's Demand Transmission Service tariff bills customers, including distribut...

AI summary Alberta's deregulated electricity market uses pass-through transmission charges allocated by distributors. The AESO's Demand Transmission Service tariff includes various charges, which are allocated to rate classes based on demand and energy factors, with ENMAX as an example showing 80.5% of costs based on demand.

2.2 ONTARIO Ontario is deregulated so the transmission charges applicable to rate classes are in the form of pass-through charges allocated by distributors. All transmission charges billed to distributors are demand-based charges. The tran...

AI summary Ontario's deregulated electricity market results in transmission charges being passed through to rate classes by distributors. These charges are demand-based and allocated based on the 12CP methodology.

Memorandum To: NS Power From: Andrew Blair & John Todd Date: January 21, 2025 Re: Generation Classification & Overall Classification Jurisdiction Review This memo provides details of the generation classification methodologies used by Cana...

AI summary This memorandum outlines how Canadian vertically integrated utilities classify generation assets and expenses, focusing on the system load factor approach used by several utilities, including NS Power. It also notes variations in methodology, such as BC Hydro's 2007 classification based on water pressure and Maritime Electric's judgment-based approach.

Table 5 – Sources for Tables 1-4 Utility Sources BC Hydro F2023 FACOS Study 2015 Rate Design Application (proceeding 3698781), Chapter 3, page 2-22 SaskPower 2023 Cost of Service Methodology Review 2022 & 2023 Cost of Service Minimum Filin...

AI summary This document provides a table listing various utilities and their respective sources for tables 1-4, including studies, applications, and decisions related to cost of service and rate design. It also references a redacted appendix from the 2026-2027 GRA Direct Evidence.

2026-2027 GRA Direct Evidence Appendix 12A(5) 1 Page 2 of 31 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is a redacted page from a general rate application (GRA) appendix, part of a regulatory proceeding in Nova Scotia. It includes confidential information and appears to be part of a larger submission related to rate-setting and financial considerations.

2026-2027 GRA Direct Evidence Appendix 12A(5) 1 Page 3 of 31 REDACTED (CONFIDENTIAL INFORMATION REMOVED) October 11, 2024 Memo to Participants in COSS Stakeholder Process

AI summary This memo, dated October 11, 2024, is addressed to participants in the Cost of Service Study (COSS) stakeholder process. It is part of the 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 12A(5) and is marked as confidential.

2026-2027 GRA Direct Evidence Appendix 12A(5) 1 Page 6 of 31 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted page from a 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 12A(5), which contains confidential information. It is part of a regulatory proceeding related to rate applications and cost-of-service studies.

2026-2027 GRA Direct Evidence Appendix 12A(5) 1 Page 9 of 31 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The document is a redacted page from a 2026-2027 General Rate Application (GRA) Direct Evidence Appendix 12A(5), which includes confidential information. It is part of a regulatory proceeding related to rate applications and cost-of-service studies.

Hi Everyone, Please see attached a chart summarizing NS Power's updated positions following the resolution sessions, along with a summary of the justifications for any updates made. The models that reflect the updated position have been up...

AI summary NS Power has updated its positions following resolution sessions, with the updated models uploaded to an FTP site. The summary includes justifications for the changes. Mollie Morris, Regulatory Counsel at NS Power, is the contact person for this update.

2026-2027 GRA Direct Evidence Appendix 12A(5) 1 Page 13 of 31 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Status Quo CTD Referen ce NS Power Position (Pre Resolution Session) NS Power Updated Position (Following Resolution Session) Justifi...

AI summary The table outlines a discussion on generation functionalization under the 2026-2027 GRA Direct Evidence Appendix 12A(5). It includes status quo descriptions, reference issues, and positions taken by NS Power before and after a resolution session, along with justifications for updated positions.

Nova Scotia Power Inc. Cost of Service Study Consultation Report Report prepared by Elenchus Research Associates Inc. Draft 25 April 2025

AI summary This document is a consultation report on Nova Scotia Power Inc.'s Cost of Service Study, prepared by Elenchus Research Associates Inc. as of April 25, 2025. It provides an overview of the study and seeks input from stakeholders.

1 1.2 THEORY OF COST ALLOCATION - 2 In the electricity industry, electricity is generated, primarily in large power plants, then - 3 transmitted over high voltage transmission lines, after which it is transformed to lower - 4 voltages and...

AI summary This section outlines the theory of cost allocation in the electricity industry, explaining how shared assets and expenses are distributed among customer classes using a cost allocation study. The methodology relies on principles such as cost causality, benefit derived, government policy alignment, timing of recovery, simplicity, and acceptability.

1.3 GENERALLY ACCEPTED UTILITY RATEMAKING PRINCIPLES - 6 It is generally accepted by regulators and regulated utilities that any utility's cost allocation - 7 study methodology and approach to rate design should be based on a set of clearl...

AI summary The section discusses generally accepted utility ratemaking principles, emphasizing the importance of cost allocation and rate design based on clear guidelines. It references James Bonbright's work, particularly Chapter 16 of the Second Edition, which outlines ten attributes of a sound rate structure.

Practical-related Attributes - 9. The related, practical attributes of simplicity, certainty, convenience of payment, economy in collection, understandability, public acceptability, and feasibility of application. - 10.Freedom from controv...

AI summary The text discusses the inherent challenges in applying principles such as simplicity, certainty, and economic efficiency in rate-setting, highlighting the need for stakeholder input and judgment in cost allocation. It emphasizes transparency and the importance of addressing differing opinions in regulatory decisions.

5 1.4 THE MOST RELEVANT RATEMAKING PRINCIPLES FOR COST ALLOCATION - 6 Cost allocation is one of the three steps commonly used for ratemaking: (i) determination - 7 of the total revenue requirement, (ii) allocation of the total revenue requ...

AI summary The text discusses the principles of cost allocation in ratemaking, emphasizing the importance of allocating costs based on the principle of cost causality to achieve fairness and avoid discrimination. It also notes that while marginal cost-based rates are more efficient, they are rarely used due to challenges in recovering full revenue requirements and ensuring equity.

1 3 SUMMARY OF NS POWER PROPOSED METHODOLOGY - 2 The following table summarises the methodologies for which NS Power proposes to - 3 maintain the status quo and the methodologies NS Power is proposing to change.

AI summary NS Power outlines its proposed methodology changes and the maintenance of the status quo in a table, summarizing the methodologies it is considering for implementation.

9 Table 4 – Generation Classifications Generation Rate Base Classification Steam Plant System Load Factor Hydro Plant System Load Factor Wind Plant Load Carrying Capability8 Effective LM6000 Plant System Load Factor Gas Turbine Plant 100%...

AI summary Table 4 outlines the classification of different generation plants based on their rate base, including System Load Factor, Load Carrying Capability, and 100% Demand. It notes that Generation OM&A has an initial classification of 16% to energy.

13 4.2.2.1 NSP CURRENT APPROACH - 14 Fuel and purchased power are classified as either energy or by the same method that - 15 rate base is allocated.

AI summary The document discusses how Nova Scotia Power classifies fuel and purchased power, aligning with the method used for allocating the rate base.

2026-2027 GRA Direct Evidence Appendix 12B Page 35 of 55 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 100000 1 On IC en ш J > -35- NSP COSS Consultation Report Draft April 25, 2025

AI summary The document is a redacted page from a 2026-2027 GRA Direct Evidence Appendix 12B, which includes a consultation report draft from NSP COSS dated April 25, 2025. The content is partially obscured due to confidentiality.

2026-2027 GRA Direct Evidence Appendix 12B Page 39 of 55 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Le enc hus -39- NSP COSS Consultation Report Draft April 25, 2025

AI summary This document is a redacted page from a 2026-2027 GRA Direct Evidence Appendix 12B, containing a consultation report draft from NSP COSS dated April 25, 2025. The content is partially redacted due to confidentiality.

2026-2027 GRA Direct Evidence Appendix 12B Page 43 of 55 REDACTED (CONFIDENTIAL INFORMATION REMOVED) -43- NSP COSS Consultation Report Draft April 25, 2025 - 1 on whether the sub-function is primary or secondary. Additionally, weightings a...

AI summary This excerpt from the NSP COSS Consultation Report Draft April 25, 2025, discusses the categorization of sub-functions as primary or secondary and the application of weightings to certain sub-functions.

2026-2027 GRA Direct Evidence Appendix 12B Page 45 of 55 REDACTED (CONFIDENTIAL INFORMATION REMOVED) -45- NSP COSS Consultation Report Draft April 25, 2025

AI summary This document is a consultation report draft from NSP COSS dated April 25, 2025, and is part of the 2026-2027 GRA Direct Evidence Appendix 12B, which contains redacted confidential information.

1 Table 8 – Retail Allocation Retail Sub-Function Allocation Methodology Meter reading 85% by number of bills & 15% by class revenues Electric inspections Specific assignment to Domestic and remaining allocated by meter reading allocations...

AI summary Table 8 outlines the allocation methodologies for various retail sub-functions, such as meter reading, billing services, and credit services, using metrics like number of bills, class revenues, and customer count. The document also introduces NSP's proposed approach for retail allocation.

2026-2027 GRA Direct Evidence Appendix 12B Page 47 of 55 REDACTED (CONFIDENTIAL INFORMATION REMOVED) -47- NSP COSS Consultation Report Draft April 25, 2025

AI summary This document is a draft consultation report from NSP COSS dated April 25, 2025, which is part of the 2026-2027 GRA Direct Evidence Appendix 12B. It is noted as page 47 of 55 and contains redacted confidential information.

2026-2027 GRA Direct Evidence Appendix 12B Page 50 of 55 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 10000 Onc hus JUS -50- NSP COSS Consultation Report Draft April 25, 2025

AI summary The text appears to be a redacted section of a regulatory proceeding document related to the 2026-2027 GRA Direct Evidence Appendix 12B. It includes a table and a reference to a consultation report draft from NSP COSS dated April 25, 2025. The content is partially redacted and contains limited details.

2026-2027 GRA Direct Evidence Appendix 12B Page 51 of 55 REDACTED (CONFIDENTIAL INFORMATION REMOVED) -51- NSP COSS Consultation Report Draft April 25, 2025

AI summary This document is a consultation report draft from NSP COSS dated April 25, 2025, and is part of the 2026-2027 GRA Direct Evidence Appendix 12B, which contains redacted confidential information.

2026-2027 GRA Direct Evidence Appendix 12B Page 52 of 55 REDACTED (CONFIDENTIAL INFORMATION REMOVED) -52- NSP COSS Consultation Report Draft April 25, 2025 1 NS Power's proposal to revise both of the OATT revenue requirement and cost of se...

AI summary NSP proposes aligning the OATT revenue requirement and cost of service study to set transmission rates consistently. The current classification based on system load factor creates a bias where unbundled service customers, typically large volume users with high load factors, pay lower transmission charges, potentially incentivizing them to choose unbundled over bundled service.

Nova Scotia Power Inc. Power System Line Loss Study Technical Report Methodology to Compute Loss Allocation Factors BBA Document No. / Rev.: 3245004-000000-47-ERA-0000 / R01 August 20, 2025 FINAL 375 Sir-Wilfrid-Laurier Blvd. Mont-Saint-Hi...

AI summary This document is a technical report titled 'Power System Line Loss Study' prepared by BBA for Nova Scotia Power Inc. It outlines the methodology used to compute loss allocation factors. The report is part of a broader regulatory process involving the analysis of power system efficiency and cost allocation.

REVISION HISTORY Revision Document Status – Revision Description Date R00 Final 2025-04-04 R01 Final 2025-08-20 This document has been prepared by BBA for its Client and may be used solely by the Client and shall not be used nor relied upo...

AI summary The document is a final revision prepared by BBA for its client, with restrictions on its use. It outlines the revision history and includes disclaimers regarding liability.

3.2 Non-technical losses Non-technical losses represent the discrepancy between the total electricity distributed to customers and the amount actually billed and paid for. These losses arise from various factors, including electricity thef...

AI summary Non-technical losses refer to the difference between the electricity distributed to customers and the amount billed and paid. These losses are caused by factors such as electricity theft, fraud, meter tampering, faulty equipment, modelling errors, and administrative mistakes.

2026-2027 Financial Outlook 1 (1) Compliance (2) (3) Forecast (4) Present Rates (5) Present Rates (7) Proposed Rates (8) Proposed Rates 39 "2023-1" 4.951% NOV 15/32 24-Apr-2050 15-Nov-2032 300.0 300.0 300.0 300.0 300.0 300.0 300.0 40 "2023...

AI summary The 2026-2027 financial outlook includes a table detailing compliance, forecast, present rates, and proposed rates for various debt instruments and financial obligations, highlighting forecasted issues and total long-term debt net values.

NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL DA-01 1 Requirement: 35 36 PORT HAWKESBURY BIOMASS 2.50% 2.50% 2.50% 4.35% 4.35% 37 38 INTERNATIONAL COAL PIER 2.60% 2.60% 2.60% 2.60% 2.60% 39 40 GENERAL 2.82% 2.82% 2.82% 2.82%...

AI summary The document presents a table detailing various production plants and their associated percentages, likely related to energy generation and costs for NS Power's 2026-2027 General Rate Application. It includes biomass, hydraulic, solar, and combustion turbine plants with varying percentages.

NS Power 2026-2027 General Rate Application CONFIDENTIAL (Attachments Only) DA-03 1 Requirement: 2 3 Amortization expense. 4 5 Submission: 6 7 Please refer to Partially Confidential Attachment 1. DA-3 Regulatory Amortizations Compliance Ac...

AI summary The document outlines NS Power's 2026-2027 General Rate Application, detailing regulatory amortization expenses and asset retirement obligations (ARO) reserves. It includes figures for various amortization categories and references Partially Confidential Attachment 1 for further details.

1 Requirement: 2 3 Regulated statement of earnings. 4 5 Submission: 6 7 Please refer to Partially Confidential Attachment 1. REDACTED 2026-2027 GRA FO-01 Attachment 1 Page 1 of 1

AI summary The document outlines a requirement for a regulated statement of earnings, with a submission reference to Partially Confidential Attachment 1. The content of the attachment is redacted and not provided in the text.

Nova Scotia Power Inc. FO-02 Regulated Balance Sheet Years Ended December 31st Millions of Dollars

AI summary This document presents Nova Scotia Power Inc.'s regulated balance sheet for the years ended December 31st, with figures reported in millions of dollars. It provides a financial overview of the company's assets, liabilities, and equity.

Nova Scotia Power Inc. FO-03Regulated Statements of Retained Earnings Years Ended December 31stMillions of Dollars

AI summary This document presents Nova Scotia Power Inc.'s Regulated Statements of Retained Earnings for the years ended December 31st, with figures reported in millions of dollars.

2026-2027 Financial Outlook 1 ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) ( 7 ) 2 Co l ian m p ce 2 0 2 4 Ac tu l a 2 0 2 4 Fo 2 0 2 t 5 re ca s Pr t es en Ra te s 2 0 2 6 Pr t es en Ra te s 2 0 2 7 Pr d op os e Ra te s 2 0 2 6 Pr d op os e Ra te...

AI summary The document presents the 2026-2027 financial outlook, including projected revenues and expenses for various years. It outlines expected retained earnings, net income, and other financial metrics, providing a snapshot of the financial position for the period.

Nova Scotia Power Inc. Regulated Statement of Cash Flows Years Ended December 31st Millions of Dollars FO-04

AI summary The document presents Nova Scotia Power Inc.'s Regulated Statement of Cash Flows for the years ended December 31st, with figures reported in millions of dollars and labeled as FO-04.

2026-2027 Financial Outlook 1 (1) (2) (3) (4) Present (5) Present (6) Proposed (7) posed 2 npliance 2024 Actual 2024 Forecast 2025 Rates 2026 Rates 2027 Rates 2026 R ates 027 3 Operating Activities 2024 2024 1 0100001 2020 2020 202. 2020 -...

AI summary The financial outlook for 2026-2027 outlines operating activities, net earnings, and cash flows, including depreciation, deferrals, and regulatory amortization. It includes forecasts for operating cash flow, financing activities, and investing activities, providing a detailed financial projection for the period.

Nova Scotia Power Inc. Electric Revenue Details Years Ended December 31st Millions of Dollars

AI summary The text presents a table titled 'Nova Scotia Power Inc. Electric Revenue Details Years Ended December 31st Millions of Dollars,' which provides financial data related to the company's electric revenue over multiple years.

FOR-05 Millions of Dollars Unsr noothed 2026-2027 Financial Outlook (1) (2) (3) (4) (5) (6) (7) (8) (9) Pro oosed Ra tes 2026 Pro posed R ates 2027 Compliance 2023 (1) Embedded Cost Rates FAM DSM SCRR Total Embedded Cost Rates FAM DSM SCRR...

AI summary The document presents a financial outlook for 2026-2027, detailing projected revenue and costs across various customer segments, including residential, general, industrial, and other categories. It includes figures for compliance, embedded costs, FAM, DSM, and SCRR, with comparisons between 2026 and 2027 rates.

Nova Scotia Power Inc. Electric Revenue Details Years Ended December 31st Millions of Dollars Proposed Smoothed Revenue 2026-2027 Financial Outlook · 1 (1) (2) (3) (4) (5) (6) (7) (8) (9) Pro posed Ra ates 2026 Pro posed F Rates 2027 1 Com...

AI summary The document presents Nova Scotia Power Inc.'s electric revenue details for the years ending December 31st, including proposed smoothed revenue figures for 2026 and 2027, segmented across residential, industrial, and municipal categories. It includes various cost components such as FAM, DSM, and SCRR, and outlines total revenue and expenses.

FO-06 2026-2027 Financial Outlook 2026-2027 Financial Outlook 1 (1) (2) (3) (4) (5) (6) (7) Present Present Proposed Proposed Compliance Actual Rates Rates Rates Rates 2 2024 2024 Forecast 2025 2026 2027 2026 2027 _ 2024 2024 Forecast 2025...

AI summary The document presents a financial outlook for 2026-2027, detailing residential, general, industrial, and other electric sales, along with losses and total system requirements. It includes forecasted and actual figures for various categories, highlighting changes in rates and sales over time.

Forecasts are compiled for purposes of this rate application and are not intended to be relied upon for other purposes.

AI summary The document indicates that forecasts provided in the rate application are specific to this proceeding and should not be used for other purposes.

97 Forecast Inflation Rate 98 2025 2.2% 99 2026 2.0% 100 2027 2.0% NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL FO-09 1 Requirement: 2 3 Revenue requirement and rate increase breakdown. 4 5 Submission: 6 7 Please refer to D...

AI summary The document includes a forecast of inflation rates for 2025 to 2027 and references sections of NS Power's 2026-2027 General Rate Application, including revenue requirement breakdowns and estimated average capital and cost of capital submissions.

Nova Scotia Power Inc. FO-11 Details of Interest and Other Expenses Years Ended December 31st Millions of Dollars

AI summary The document presents Nova Scotia Power Inc.'s FO-11 details of interest and other expenses for the years ended December 31st, with figures provided in millions of dollars.

2026-2027 Financial Outlook 1 (1) (2) (3) (4) (5) (6) (7) Present Present Proposed Proposed Compliance Actual Rates Rates Rates Rates 2 2024 2024 Forecast 2025 2026 2027 2026 2027 3 Interest on long-term debt $157.5 $162.9 $153.8 $155.2 $1...

AI summary The 2026-2027 Financial Outlook table provides a forecast of regulated financing costs, interest on long-term and short-term debt, and other financing charges for Nova Scotia Power. It outlines projected figures for 2026 and 2027, including comparisons with actual and compliance figures from 2024.

1 Requirement: 2 3 Average rate base, supporting schedule – deferred charges and credits. 4 5 Submission: 6 7 Please refer to Partially Confidential Attachment 1. REDACTED 2026-2027 GRA FO-13 Attachment 1 Page 1 of 1

AI summary The text refers to a submission regarding the average rate base, deferred charges and credits, and directs the reader to a partially confidential attachment. The content is redacted and appears to be part of a regulatory proceeding related to financial matters.

Nova Scotia Power Inc. FO-13Average Rate Base Supporting Schedule - Deferred Charges & Credits Years Ended December 31st Millions of dollars 2026-2027 Financial Outlook (1) (2) (3) (4) (5) (7) Proposed RatesProposed RatesForecast Test Year...

AI summary This document provides a financial outlook for Nova Scotia Power Inc. for the years 2026-2027, including deferred charges and credits related to financing defeasance, with figures in millions of dollars and details on beginning balances and amortization.

NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL FO-15 1 Requirement: 2 3 Average rate base, supporting schedule – allowance for working capital. 4 5 Submission: 6 7 Please refer to Attachment 1. 2026-2027 GRA FO-15 Attachment...

AI summary The document outlines NS Power's 2026-2027 General Rate Application, specifically focusing on the average rate base and working capital allowance, with a reference to Attachment 1 for detailed information.

(1) (2) (3) (4) (5) 1 2024 Test Year Proposed Rates - Cash Working Capital Requirement 2 Category Lag Days (a) Net Lag Days (b) [53.0 days - (a)] % of Year (c) [(b) / 366] Annual Cost (d) CWC [(c) x (d)] 3 4 Revenue Lag 53.0 5 Labour 29.8...

AI summary The document outlines the Cash Working Capital (CWC) requirements for 2024 and 2026, detailing lag days, net lag days, percentages of the year, annual costs, and CWC calculations for various categories including labour, fuel, and demand-side management (DSM). The total CWC requirement for 2024 is $79.1, and for 2026, it is $137.5.

1 Requirement: 2 3 Fuel and purchased power costs. 4 5 A. Provide the latest detailed fuel forecast for test year in the same format and 6 level of detail as the 2013 rate case (P-893). Identify the date and price of the 7 forward price cu...

AI summary The document outlines a requirement to provide detailed fuel forecasts for the test year in the same format as the 2013 rate case (P-893), including the date and price of forward price curve data for HFO and natural gas, and the PLEXOS runs used for computing fuel and purchased power costs for 2026 and 2027.

3.2.11 Grid Sales Revenue Revenue from power exports net of any transmission tariffs and losses. This includes Renewable Energy Credits arising out of the sale of renewable energy in the New England market.

AI summary This section discusses grid sales revenue, which includes revenue from power exports after accounting for transmission tariffs and losses, as well as Renewable Energy Credits from sales in the New England market.

3.2.12 Natural Gas Revenue Revenue from the resale of natural gas.

AI summary This section discusses revenue generated from the resale of natural gas, highlighting a key financial aspect of the utility's operations.

Monthly Filing Requirements NS Power shall provide standardized monthly reports in accord with the structure and templates provided in Appendix "C" on the twenty-first day after the month end (or the next Business Day after the twenty-firs...

AI summary NS Power is required to submit standardized monthly reports according to the templates in Appendix 'C' by the 21st day of the following month, or the next business day if the 21st falls on a non-business day.

ce Adjustment (Refund)/Recovery Rate – BA' and the 'Actual Sales' for the current period. Base Cost of Fuel Component – B: is the Base Cost of Fuel per kWh (¢/kWh) included in NS Power's "rates". Business Day: is any day other than a Satur...

AI summary This section defines key terms related to fuel adjustment mechanisms, cost recovery, and rate applications. It outlines components such as the Base Cost of Fuel, Export Sales Costs, and General Rate Applications, providing clarity on how fuel costs and revenues are calculated and managed within the regulatory framework.

Rates - q) Line 18: calculate the 'Base Cost of Fuel per MWh' by multiplying line 12 by 1000, then dividing the product by line 17. - r) Line 19: calculate the 'Base Cost of Fuel per kWh' by dividing line 18 by 1000. - NOTE: The Base Cost...

AI summary The text provides instructions on calculating the Base Cost of Fuel per MWh and per kWh, referencing the Cost of Service Study (COSS) and the Annual Weighted Average Cost of Capital (WACC) for use in financial modeling.

Actual Sales (GWh) - o) Line 15: enter the 'Total Sales' in GWh for the period as provided by Revenue for the appropriate 'Fuels Results Package'. - p) Line 16: enter the 'Less Export Sales Gen.' in GWh for the period found on the 'Export...

AI summary The text outlines the process for calculating 'Actual Sales' in GWh by entering total sales, subtracting export sales and other adjustments, and linking the result to the Fuel Adjustment Mechanism (FAM) calculations in Schedule 1.

V. Actual Adjustment (Refund)/Recovery Yearly Rate per kWh Calculation – 'AA' The 'Actual Adjustment' rate is calculated and presented to the Board for approval on or before November 15 of each year, based on the current year's data, to th...

AI summary The 'Actual Adjustment' (AA) rate is calculated annually and submitted to the Board for approval, based on data from the current year and used for the next calendar year. The process involves calculating over/under recovery amounts, accumulated interest, and the AA rate per kWh, with a second calculation in January for the final AA filing.

5.2 Water Use Fees The Water Use Fees for the forecast will be based on the most current estimate of costs available from invoicing and communication with the Provincial Government, including known increases to be implemented.

AI summary The Water Use Fees for the forecast are determined based on the most current cost estimates from invoicing and communication with the Provincial Government, including known increases to be implemented.

Q-9 IMPORT POWER AND EXPORT DETAIL REPORT ( Confidential ) - Quantities purchased and sold - Cost of quantities purchased - Revenue of quantities sold - Reporting periods (current quarter)

AI summary This confidential report details the quantities of power imported and exported, along with their associated costs and revenues for the current quarter. It provides a snapshot of energy trading activities during the reporting period.

Fuel Cost Summary - per MWh l for Ge atio ic L oad ( $M) Fue Dom est ner n - $26 $27 $23 So lid F uel 1.3 3.8 l Ga $61 $79 $41 Na tura .6 .2 s $20 $24 $24 Bi .0 .5 om ass Bu nke r C $34 $18 $11 .9 .0 $2. $4. $2. Fu 9 3 rna ce Di l $2. 8 $2...

AI summary The document provides a detailed breakdown of fuel costs per MWh, categorizing various fuel types and associated expenses. It includes figures for different fuel sources, such as natural gas, solid fuel, and biomass, along with adjustments and totals for fuel and purchased power.

NOVA SCOTIA POWER Period: MONTH-Year Submitted: Date JAN-16 FEB-16 MAR-16 APR-16 MAY-16 JUN-16 JUL-16 AUG-16 SEP-16 OCT-16 NOV-16 DEC-16 Total Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Foreca...

AI summary The document presents a table with monthly forecasts for various energy generation and revenue metrics for Nova Scotia Power over a 12-month period, including generation from different sources and revenue streams. The table includes sections for generation, purchased power, and revenue, but most data cells are empty.

NOVA SCOTIA POWERPeriod: MONTH-Year $CADSubmitted: Date JAN- 16 Fore cast FEB -16 Fore cast MAR -16 Fore cast APR -16 Fore cast MAY -16 Fore cast JUN- 16 Fore cast JUL- 16 Fore cast AUG -16 Fore cast SEP- 16 Fore cast OCT- 16 Fore cast NOV...

AI summary The document presents a forecast table for various locations in Nova Scotia, likely related to energy or utility data, with columns spanning from January to December 2016 and a total forecast column. The table includes entries with numbers and names, possibly representing different sites or projects.

Lingan Heat Rate Report NOVA SCOTIA POWER Period: MONTH-Year $CAD Submitted: Date Cost Centre=LIN (Ling: JUL-16 Forecast OCT-16 Forecast JAN-16 Forecast FEB-16 MAR-16 Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast...

AI summary The Lingan Heat Rate Report provides financial and operational data for Nova Scotia Power's Lingan facility, including forecasts and fuel costs for various units and the total plant. The report includes data for multiple months and years, focusing on heat rate and fuel cost per MWh.

Trenton 5 Monthly Station Fuel Costs NOVA SCOTIA POWER Period: MONTH-Year $CAD Submitted: Date APR-16 MAY-16 NOV-16 DEC-16 Total Forecast Forecast

AI summary The document presents monthly fuel cost data for the Trenton 5 Station operated by Nova Scotia Power, covering the period from April to December 2016. It includes forecasted figures and is submitted for regulatory review.

Trenton Heat Rate Report NOVA SCOTIA POWER Period: MONTH-Year $CAD Submitted: Date Cost Centre=TRN (Trenton JAN-16 Forecast FEB-16 Forecast MAR-16 Forecast APR-16 Forecast MAY-16 Forecast JUN-16 Forecast JUL-16 Forecast AUG-16 Forecast SEP...

AI summary The Trenton Heat Rate Report provides a forecast of net generation, fuel consumption, heat rate, and fuel cost for Nova Scotia Power's Trenton facility from January to December 2016, with data organized by unit and total plant metrics.

NOVA SCOTIA POWER Period: MONTH-Year $CAD Submitted: Date NSPI (FAM) A-10y CONFIDENTIAL Cost Centre=312 (Tufts Cove Operations) JAN-16 FEB-16 MAR-16 APR-16 MAY-16 JUN-16 JUL-16 AUG-16 SEP-16 OCT-16 NOV-16 DEC-16 Total Forecast Forecast For...

AI summary The document presents a table of forecasted costs for the Tufts Cove Operations in Nova Scotia Power's Cost Centre 312 for the year 2016, including net generation, fuel consumption, heat rate, and fuel costs by unit and total plant. The table spans multiple months and includes various operational metrics.

NS Power FAM Plan of Administration and Appendices Page 161 of 276REDACTED 2026-2027 GRA OE-01R Attachment 1 Page 161 of 276 NSPI (FAM) A-10ad Nova Scotia Power Inc. Annual FAM Reporting Year [20XX] NSPI (FAM) A-10ae CONFIDENTIAL

AI summary This document is a page from Nova Scotia Power Inc.'s (NSPI) FAM Plan of Administration and Appendices for the year 2026-2027. It includes confidential information related to the Annual FAM Reporting Year [20XX].

Summary of Sales Forecast by Customer Class GW h S ale s [ +1] Ye ar [ +2] Ye ar Re sid ial ent Ge al ner S ll g ral ma ene G ral ene L ral arg e g ene To tal Ge al ner Ind ust rial S ll in dus tria l ma M edi ind rial ust um La e in dus t...

AI summary The document presents a summary of sales forecasts by customer class, including residential, industrial, and other categories such as municipal and exports. The table is incomplete and lacks specific numerical data or detailed explanations.

NSPI (FAM) A-11 \ \ [ Year +2] [Source] Nova Scotia Power Inc.Annual FAM Reporting CONFIDENTIAL Year [20XX] NSPI (FAM) A-12

AI summary This document contains confidential annual FAM (Financial and Management) reporting from Nova Scotia Power Inc. for the year [20XX]. It includes internal documents labeled as 'CONFIDENTIAL' and is part of a regulatory proceeding.

(Including oxidising agents) Ye +1 ar Ca e C s [ $M ] tur ost p Typ e Qu ity ant (m rs) illio of d olla ns $ /MW h Ge atin Pla nt ner g Lin Un it 1 gan Pow der Ac tiva ted Ca rbo n Kg s Lin Un it 2 gan Pow der Ac tiva ted Ca rbo n Kg s Lin...

AI summary The document includes a table with data on the quantity and cost of activated carbon and calcium chloride used at various power plants, including Linegan, Trenton, and Point Tupper. It also mentions annual FAM reporting, which is partially confidential for the year 202x.

Base Fuel Component (BCF) Actual Budget (Over)/Under‐recovered Prior to Current Month (Over)/Under‐recovered in Current Month Balance Yet to be Recovered (Over)/Under‐recovery‐ Remainder of the Year Interest on BCF Balance

AI summary The document presents a summary of the Base Fuel Component (BCF) actual budget, including over/under-recovered amounts prior to and in the current month, the balance yet to be recovered, and interest on the BCF balance for the remainder of the year.

Balancing Adjustment Component (BA) Year Beginning BA Balance Recovered Prior to Current Month Opening Balance as of Month 1, Year Recovered/(Refunded) in Current Month Closing Balance as of Month Day, Year Recovered/(Refunded) Remainder o...

AI summary The text outlines the structure and components of the Balancing Adjustment (BA) mechanism, including the beginning balance, recovery/refund amounts, closing balance, and interest calculations for a given period.

ELIADC in Monthly FAM Report (reported on M-1) ELIADC Report CBL Energy Charge ($) CBL Adder ($) Month Fuel & Purchased Power Charge Variable Operating & Maintenance Charge Fixed Cost Recovery ($) Total Actual Energy (MWh)(1) Target Energy...

AI summary The document presents a table from the ELIADC Report in the Monthly FAM Report, with columns related to energy charges, operating costs, and billed charges. It includes a heading referencing Nova Scotia Power Inc. (NSPI) and the FAM report for Month 2022.

Nova Scotia Power Inc. NSPI (FAM) M‐9 Monthly FAM Reporting CONFIDENTIAL NS Power Energy Marketing Inc. Transaction Reporting For the Period Ended Month, Day, Year Pro duc t /Se Buy ll e/T Dat ime Vo lum e Pric e t/( e) Cos Rev enu No te N...

AI summary The document appears to be a confidential monthly and quarterly financial and management (FAM) reporting form for Nova Scotia Power Inc. (NSPI) and NS Power Energy Marketing Inc. It includes a table for transaction reporting, though the content is not fully populated.

\ 2016 BCF Compliance Budget \ \ Includes losses for all customer classes, with the exception of Export Sales. Nova Scotia Power Inc. NSPI (FAM) Q-7 Quarterly FAM Reporting CONFIDENTIAL As at [Month Day, Year]

AI summary This document is a quarterly FAM (Fuel Adjustment Mechanism) reporting submission by Nova Scotia Power Inc. (NSPI) for the BCF Compliance Budget as of a specific date, including losses for all customer classes except Export Sales.

January 2023 MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY SUNDAY MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY SUNDAY 30 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Round 2 2022-2023 FAM Audit IRs to NSP and BW File 2024 FA...

AI summary The document outlines a regulatory proceeding timeline for January 2023, including audit processes, rate applications, and interventions related to FAM AA/BA Rates. Key activities include audit responses, evidence submissions, and regulatory filings involving NSP and BW.

(1) Base Cost of Fuel The Base Cost of Fuel can be re-set in a General Rate Application or, absent a General Rate Application, every second year as part of the FAM adjustment process. Changes in the Base Cost of Fuel will be reflected in c...

AI summary The Base Cost of Fuel is adjustable through a General Rate Application or every second year via the FAM adjustment process. Adjustments impact customer rates and are applied according to the Board-approved Cost of Service Methodology.

(2) Incentive For a total fuel cost variance of up to $50 million dollars (Actual Fuel Costs - [(Actual Sales) x (Base Fuel Cost $/Mwh)] ), 90% of any savings or increase in cost will be credited or charged to customers. The portion of any...

AI summary The document outlines an incentive mechanism where 90% of fuel cost variances up to $50 million are credited or charged to customers, with excess variances applied to the 'AA' calculation. Credits or charges are applied to the energy component of rates on a cents per kWh basis.

2026-2027 NS Power General Rate Application CONFIDENTIAL (Attachments Only) OE-12 1 Requirement: 2 3 Foreign exchange hedging. 4 5 Submission: 6 7 Please refer to Confidential Attachment 1. 2026-2027 GRA OE-12 Confidential Attachment 1 has...

AI summary The document outlines requirements for the 2026-2027 NS Power General Rate Application, including foreign exchange hedging and dues and professional association charges. Confidential attachments are referenced but not included in this chunk.

NS Power 2026-2027 General Rate Application CONFIDENTIAL (Attachments Only) OP-01 1 Requirement: 2 3 Latest regulated annual reports of NS Power and Emera. 4 5 Submission: 6 7 Please refer to the following attachments: 8 9 • Attachment 1 (...

AI summary The document outlines the submission requirements for NS Power's 2026-2027 General Rate Application, including the latest regulated annual reports of NS Power and Emera, and references several attachments containing financial and management discussion materials.

NSPI's operating revenues include sales of electricity and other services as summarized in the following table: Three months ended Six months ended For the June 30 June 30 millions of dollars 2025 2024 2025 2024 Electric revenues $ 427 $ 4...

AI summary NSPI's operating revenues from electricity and other services are detailed in the provided tables, showing increases in electric revenues due to higher pricing and sales volumes, particularly in residential and commercial sectors, though industrial sales volumes decreased slightly.

The Company generates internally sourced cash primarily through the generation, transmission and distribution of electricity. NSPI's customer base is diversified by both sales volumes and rates among customer classes. Circumstances that co...

AI summary NSPI generates cash through electricity generation, transmission, and distribution. Key factors affecting cash generation include macroeconomic conditions, fuel prices, regulatory decisions, environmental legislation, credit ratings, and weather patterns.

Significant changes in the Condensed Consolidated Statements of Cash Flows between the six months ended June 30, 2025 and 2024 include: millions of dollars 2025 2024 Change Cash, beginning of period $ - $ 78 $ (78) Provided by (used in): O...

AI summary The condensed consolidated statements of cash flows show a significant decline in operating cash flow from 294 million dollars in 2024 to 95 million dollars in 2025, with a notable decrease in cash at the end of the period from 38 million dollars to 8 million dollars.

The Company has the following categories on the Condensed Consolidated Balance Sheets related to derivatives receiving regulatory deferral: As at June 30 December 31 millions of dollars 2025 2024 Derivative instrument assets (current and o...

AI summary The Company reports regulatory deferral-related derivative instruments and regulatory assets and liabilities on its Condensed Consolidated Balance Sheets, with figures for June 30, 2025, and December 31, 2024. The net asset from these items is reported as $1 million and $2 million respectively.

SUMMARY OF QUARTERLY RESULTS For the quarter ended Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 millions of dollars 2025 2025 2024 2024 2024 2024 2023 2023 Operating revenues $ 436 $ 599 $ 479 $ 399 $ 423 $ 554 $ 439 $ 388 Net income $ 6 $ 110 $ 71 $ 14 $ 18 $...

AI summary Quarterly operating revenues and net income are influenced by seasonality, with the first quarter typically being the strongest due to colder weather and fewer daylight hours. Weather patterns, including the frequency and severity of storms, also impact energy demand and service costs.

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 vertically integrated regulated electric utility and the primary electricity supplier in Nova Scotia, regulated by the Nova Scotia Energy Board. It is a subsidiary of Emera and has various investments and partnerships, including a 50% interest in Wasoqonatl Transmission Incorporated.

Seasonal Nature of Operations Interim results are not necessarily indicative of results for the full year, primarily due to seasonal factors. Electricity sales and related generation vary over the year. The first quarter is typically the s...

AI summary The document highlights the seasonal nature of electricity sales and generation, noting that interim results may not reflect annual performance due to seasonal factors such as colder weather and fewer daylight hours in winter, which typically boost electricity demand.

For the Three months ended Three months ended millions of dollars June 30, 2025 June 30, 2024 Commodity Foreign Commodity Foreign swaps and exchange swaps and exchange forwards forwards forwards forwards Unrealized gain (loss) in regulator...

AI summary The text presents financial data on unrealized and realized gains and losses in regulatory assets and liabilities, as well as changes in derivative instruments for the three months ended June 30, 2025, and June 30, 2024. These figures relate to commodity swaps, forwards, and foreign exchange activities.

14. SEGMENT INFORMATION NSPI's consolidated operations represents a single reportable segment. The Company's single operating and reportable segment is in one regulatory environment, geographical region, and revenue is primarily derived fr...

AI summary NSPI's consolidated operations represent a single reportable segment, operating in Nova Scotia's regulatory environment. Revenue is primarily from rate-regulated electricity sales, and the company's net income is reported to the President and CEO. All operations and PP&E are located in Nova Scotia.

2026-2027 GRA OP-01 Attachment 3 Page 3 of 31 REDACTED (CONFIDENTIAL INFORMATION REMOVED) FLI is based on reasonable assumptions and is subject to risks, uncertainties and other factors that could cause actual results to differ materially...

AI summary The document outlines various risks and uncertainties that could affect the accuracy of the Financial Liability Information (FLI), including regulatory, economic, operational, and environmental factors. It cautions readers not to rely heavily on FLI as actual outcomes may differ significantly from expectations.

INTRODUCTION AND STRATEGIC OVERVIEW Emera (TSX/NYSE: EMA) is a North American provider of energy services, owning and operating a portfolio of cost-of-service, rate-regulated electric and gas utilities. Its largest operations are in Florid...

AI summary Emera is a North American energy services provider with a focus on regulated utilities, particularly in Florida, Atlantic Canada, New Mexico, and the Caribbean. Its strategy involves investment in regulated utilities, operational efficiency, and reliability. Earnings depend on rate base, equity, and return on equity, with Florida utilities accounting for the majority of its rate base. A significant capital investment plan of approximately $20 billion is forecasted from 2025 to 2029, primarily in Florida.

NON-GAAP FINANCIAL MEASURES AND RATIOS Emera uses financial measures and ratios that do not have standardized meaning under USGAAP and are calculated by adjusting certain GAAP measures for specific items. They may not be comparable to simi...

AI summary Emera employs non-GAAP financial measures and ratios that are adjusted for specific items and may not be comparable to those of other entities. These measures are discussed and reconciled in the document.

Adjusted Net Income, Adjusted EPS – Basic and Dividend Payout Ratio of Adjusted Net Income Emera calculates an adjusted net income attributable to common shareholders ("adjusted net income") measure by excluding the items below from net in...

AI summary Emera calculates adjusted net income by excluding certain items from net income attributable to common shareholders, aiming to better reflect ongoing business operations. Adjusted EPS and the dividend payout ratio of adjusted net income are non-GAAP metrics derived from this adjusted net income measure.

Reconciliation of Net Income Attributable to Common Shareholders to Adjusted Net Income Three months ended Six months ended For the June 30 June 30 millions of dollars (except per share amounts) 2025 2024 2025 2024 Net income attributable...

AI summary This section presents the reconciliation of net income attributable to common shareholders to adjusted net income for Nova Scotia Power Inc. (NSPI) for the three and six months ended June 30, 2025, highlighting adjustments such as charges related to the pending sale of NMGC, gains on the sale of LIL, and mark-to-market (MTM) losses and gains.

Reconciliation of Net Income to EBITDA and Adjusted EBITDA : Three months ended Six months ended For the June 30 June 30 millions of dollars 2025 2024 2025 2024 Net income (1) $ 154 $ 147 $ 755 $ 372 Interest expense, net 249 238 504 484 I...

AI summary The text presents a reconciliation of Net Income to EBITDA and Adjusted EBITDA for Nova Scotia Power Inc. over three and six months in 2025 and 2024, highlighting adjustments such as charges related to the pending sale of NMGC and gains from the sale of LIL, as well as MTM losses and gains.

Earnings Impact of MTM (Loss) Gain, After-Tax MTM loss, after-tax, decreased $100 million to $29 million in Q2 2025, compared to $129 million in Q2 2024. Year-to-date, the 2024 MTM loss, after-tax, of $138 million, decreased $313 million t...

AI summary The MTM (loss) gain, after-tax, decreased significantly from Q2 2024 to Q2 2025, primarily due to lower amortization of gas transportation assets at EES and a gain on Corporate FX hedges. Year-to-date, the change was also influenced by variations in existing positions at EES.

Gain on Sale of LIL On June 4, 2024, Emera completed the sale of its LIL equity interest. A gain on sale of $182 million after transaction costs ($107 million, after tax and transaction costs, or $0.37 per common share), was recognized in...

AI summary Emera completed the sale of its LIL equity interest on June 4, 2024, resulting in a gain of $182 million after transaction costs, which was recognized in 'Other Income, net' on the Condensed Consolidated Statements of Income.

Consolidated Financial Highlights For the Three months ended Six months ended millions of dollars June 30 June 30 Adjusted Net Income 2025 2024 2025 2024 Florida Electric Utility $ 260 $ 187 $ 424 $ 272 Canadian Electric Utilities 17 42 13...

AI summary The consolidated financial highlights show adjusted net income for Florida Electric Utility and other segments in 2025 compared to 2024, with factors such as higher revenue, favorable weather, and increased income tax expenses influencing the changes. Key contributors to the increase include TEC, EES, and NMGC, while decreased income from equity investments and increased operating expenses impacted results.

Consolidated Income Statement Highlights For the Three months ended Six months ended millions of dollars June 30 June 30 (except per share amounts) 2025 2024 Variance 2025 2024 Variance Operating revenues $ 1,988 $ 1,617 $ 371 $ 4,664 $ 3,...

AI summary The consolidated income statement highlights show increased operating revenues and income from operations for both three and six months ended June 30, 2025, compared to 2024. Operating expenses also rose, but income from operations and adjusted net income saw significant increases.

Other Income, net For Q2 2025, other income, net decreased $105 million and, year-to-date, decreased $102 million compared to the same periods in 2024. The decrease was due to the gain on sale of LIL in 2024, partially offset by higher FX...

AI summary Other income, net decreased by $105 million in Q2 2025 and $102 million year-to-date compared to 2024, primarily due to the gain on sale of LIL in 2024, partially offset by higher foreign exchange gains at Corporate in 2025.

Net Income and Adjusted Net Income For Q2 2025, net income attributable to common shareholders, compared to Q2 2024, was favourably impacted by the $100 million decrease in MTM losses and unfavourably impacted by the $72 million charges re...

AI summary Net income for Q2 2025 was positively impacted by a reduction in MTM losses and negatively affected by charges related to the pending sale of NMGC and a gain on the sale of LIL. Adjusted net income increased due to higher earnings at TEC, EES, and NMGC, along with higher Corporate income tax recovery and lower Corporate OM&G. Year-to-date 2025 net income also saw improvements, driven by increased earnings and tax recovery, but was offset by decreased equity earnings and higher interest expenses.

EPS – Basic and Adjusted EPS – Basic For Q2 2025, EPS – basic is consistent with Q2 2024. For Q2 2025, adjusted – EPS was higher than in Q2 2024 due to increased earnings, as discussed above, partially offset by the impact of an increase i...

AI summary For Q2 2025, basic EPS remained consistent with Q2 2024, while adjusted EPS increased due to higher earnings, partially offset by an increase in weighted average shares outstanding. Year-over-year, both basic EPS metrics rose due to increased earnings, again partially offset by the rise in shares outstanding.

The relevant CAD/USD exchange rates for 2025 and 2024 are as follows: Three months ended Six months ended Year ended June 30 June 30 December 31 For the 2025 2024 2025 2024 2024 Weighted average CAD/USD $ 1.40 $ 1.37 $ 1.43 $ 1.35 $ 1.36 P...

AI summary The document provides CAD/USD exchange rates for 2025 and 2024, as well as Emera's significant segments contributing to adjusted net income in USD currency. The weighted average and period end exchange rates are listed, along with segment financial data for various utility operations.

BUSINESS OVERVIEW AND OUTLOOK There have been no material changes in Emera's business overview and outlook from the Company's 2024 annual MD&A, except for the updates disclosed below. The extent of the future impact of trade disputes and t...

AI summary Emera's business overview and outlook remain largely unchanged from the 2024 annual MD&A, with no material financial impact from trade disputes or tariffs to date. Risks related to these factors are discussed in the 'Enterprise Risk and Risk Management' section.

NMGC On August 5, 2024, Emera announced an agreement to sell NMGC. As a result of the pending sale, NMGC's assets and liabilities were classified as held for sale beginning in Q3 2024. In July 2025, the procedural schedule for the NMPRC re...

AI summary Emera announced the sale of NMGC in August 2024, leading to its assets and liabilities being classified as held for sale starting in Q3 2024. The NMPRC regulatory process was revised, with the public hearing rescheduled to early November 2025. The transaction is expected to close in early 2026, and NMGC's USD earnings contribution in 2025 is anticipated to be slightly higher than in 2024 due to new base rates.

Other The adjusted net loss from the Other segment is expected to be lower in 2025 than 2024, due to higher contributions from EES and the wind down of Block Energy LLC in Q4 2024. Earnings from EES are generally dependent on market condit...

AI summary The adjusted net loss from the Other segment is expected to decrease in 2025 due to higher contributions from EES and the wind down of Block Energy LLC. EES earnings depend on market conditions and are seasonal, with expectations of higher income in 2025.

Florida Electric Utility Three months ended Six months ended For the June 30 June 30 millions of USD (except as indicated) 2025 2024 2025 2024 Operating revenues – regulated electric $ 839 $ 672 $ 1,488 $ 1,220 Regulated fuel for generatio...

AI summary The document presents financial data for Florida Electric Utility and Canadian Electric Utilities, including operating revenues, fuel costs, and contribution to consolidated net income for the periods ending June 30, 2025, and 2024. It highlights the impact of foreign exchange rates on CAD earnings and provides details on changes in operating revenues, fuel costs, and other financial factors.

Canadian Electric Utilities' contribution to consolidated net income is summarized in the following table: Three months ended Six months ended For the June 30 June 30 millions of dollars 2025 2024 2025 2024 NSPI $ 6 $ 18 $ 116 $ 75 Equity...

AI summary The text presents Canadian Electric Utilities' contribution to consolidated net income for the periods ending June 30, 2025, and June 30, 2024, highlighting factors such as increased operating revenue, changes in generation mix, and the impact of the sale of LIL on equity investments.

Three months ended Six months ended For the June 30 June 30 millions of USD (except as indicated) 2025 2024 2025 2024 Operating revenues – regulated gas (1) $ 256 $ 236 $ 681 $ 627 Operating revenues – non-regulated 4 3 8 7 Total operating...

AI summary The document presents financial data for a company, including operating revenues from regulated and non-regulated gas, regulated cost of natural gas, and contribution to consolidated net income for the three and six months ended June 30, 2025, compared to the same periods in 2024. It also includes finance income from Brunswick Pipeline.

Gas Utilities and Infrastructure's contribution to consolidated net income is summarized in the following table: Three months ended Six months ended For the June 30 June 30 millions of USD 2025 2024 2025 2024 PGS $ 25 $ 26 $ 65 $ 68 NMGC 2...

AI summary The contribution of Gas Utilities and Infrastructure to consolidated net income is detailed in the table, showing figures for 2025 and 2024, both for three and six months ended June 30. The impact of foreign exchange rate changes on CAD earnings is also noted, increasing earnings by $1 million and $8 million for the respective periods.

Other Electric Utilities Three months ended Six months ended For the June 30 June 30 millions of USD (except as indicated) 2025 2024 2025 2024 Operating revenues – regulated electric $ 104 $ 104 $ 196 $ 196 Regulated fuel for generation an...

AI summary The text provides financial data for Other Electric Utilities, including operating revenues, regulated fuel costs, and contributions to consolidated adjusted net income for the periods ending June 30, 2025 and 2024. It also mentions the minimal impact of foreign exchange rate changes on CAD earnings and details income tax expenses and MTM gains.

Highlights of the net income changes are summarized in the following table: For the Three months ended Six months ended millions of dollars June 30 June 30 Contribution to consolidated net (loss) income – 2024 $ (152) $ (225) Increased mar...

AI summary The table outlines changes in net income for the company over three and six months, highlighting factors such as increased marketing and trading margins, decreased OM&G due to gains on long-term incentive hedges, increased interest expense from higher debt, and charges related to the pending sale of NMGC and gain on sale of LIL.

Corporate's adjusted loss is summarized in the following table: Three months ended Six months ended For the June 30 June 30 millions of dollars 2025 2024 2025 2024 Operating expenses (1) $ (20) $ (26) $ (27) $ (51) Interest expense (91) (8...

AI summary The document presents a summary of Corporate's adjusted loss for the three and six months ended June 30, 2025, and 2024. It outlines key financial components such as operating expenses, interest expense, income tax recovery, preferred dividends, and other adjustments that contribute to the corporate adjusted net loss.

Preferred Stock As at August 5, 2025, Emera had the following preferred shares issued and outstanding: Series A – 4.9 million; Series B – 1.1 million; Series C – 10.0 million; Series E – 5.0 million; Series F – 8.0 million; Series H – 12.0...

AI summary Emera has various preferred shares issued and outstanding, including Series A and B, with specific dividend rates and redemption terms. On July 9, 2025, Emera announced it would not redeem Series A and B shares on August 15, 2025, and set new dividend rates for these shares.

Realized and Unrealized Gains (Losses) Recognized in Net Income Three months ended Six months ended For the June 30 June 30 millions of dollars 2025 2024 2025 2024 Regulatory Deferral: Regulated fuel for generation and purchased power (1)...

AI summary The text presents financial data on realized and unrealized gains and losses recognized in net income for Nova Scotia Power Inc. and related entities, including details on regulatory deferral and derivative instruments.

Q4 2024 compared to Q4 2023 Q4 2024 net income attributable to common shareholders decreased by $135 million and EPS – basic and diluted decreased by $0.52 compared to Q4 2023. The decreases were primarily due to decreased MTM gains; charg...

AI summary Q4 2024 net income attributable to common shareholders decreased by $135 million and EPS decreased by $0.52 compared to Q4 2023, primarily due to decreased MTM gains, wind-down costs, asset impairments, and lower equity earnings from LIL, partially offset by tax benefits and increased earnings from various subsidiaries.

Q3 2024 compared to Q3 2023 Q3 2024 net income attributable to common shareholders decreased by $97 million and EPS – basic and diluted decreased by $0.36 compared to Q3 2023. The decreases were primarily due to charges related to the pend...

AI summary Q3 2024 net income attributable to common shareholders decreased by $97 million compared to Q3 2023, primarily due to charges from the pending sale of NMGC, lower earnings at Emera Energy, and increased interest expenses. These were partially offset by increased earnings at TEC, PGS, NSPI, and NMGC.

Emera Incorporated Condensed Consolidated Statements of Income (Unaudited) Three months ended Six months ended For the June 30 June 30 millions of dollars (except per share amounts) 2025 2024 2025 2024 Operating revenues Regulated electric...

AI summary This document presents the condensed consolidated statements of income for Emera Incorporated for the three and six months ended June 30, 2025 and 2024. It outlines operating revenues, expenses, and net income, highlighting financial performance across regulated and non-regulated operations.

Emera Incorporated Condensed Consolidated Balance Sheets (Unaudited) As at millions of dollars June 30 2025 December 31 2024 Assets Current assets Cash and cash equivalents $ 200 $ 196 Restricted cash 14 17 Inventory 809 781 Derivative ins...

AI summary The document presents the condensed consolidated balance sheets of Emera Incorporated as of June 30, 2025, and December 31, 2024, highlighting key assets such as cash, inventory, regulatory assets, and property, plant, and equipment. It also includes other assets like deferred income taxes and goodwill, providing a snapshot of the company's financial position.

Emera Incorporated Condensed Consolidated Statements of Changes in Equity (Unaudited) Common Preferred Contributed Retained Total AOCI Equity 84 $ 1,247 $ 1,836 $ 14 $ 13,743 154 - - - (587) - - (587) (19) - - - - (216) - (216) 77 12 13,16...

AI summary The document presents the condensed consolidated statements of changes in equity for Emera Incorporated for the six months ended June 30, 2025, including details on retained earnings, contributed capital, and other equity components.

4. SEGMENT INFORMATION Emera manages its reportable segments separately due in part to their different operating, regulatory and geographical environments. Segments are reported based on each subsidiary's contribution of revenues, net inco...

AI summary Emera manages its reportable segments separately due to differences in operating, regulatory, and geographical environments. Segments are reported based on each subsidiary's contribution of revenues, net income, and total assets as reported to the Chief Operating Decision Maker (CODM), who is the Chief Executive Officer.

2026-2027 GRA OP-01 Attachment 4 Page 14 of 37 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Florida Electric Canadian Electric Gas Utilities and Other Electric Inter Segment millions of dollars Utility Utilities Infrastructure Utilities Oth...

AI summary The document presents financial data for various utility segments, including operating revenues, costs, and net income for the three and six months ended June 30, 2025. It includes details on regulated fuel, depreciation, interest expenses, and other financial metrics. The data is organized by segments such as Florida Electric, Canadian Electric, Gas Utilities, and Others, with eliminations for inter-segment transactions.

2026-2027 GRA OP-01 Attachment 4 Page 15 of 37 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Florida Electric Canadian Electric Gas Utilities and Other Electric Inter Segment millions of dollars Utility Utilities Infrastructure Utilities Oth...

AI summary The document provides a financial summary of operating revenues, expenses, and net income for different segments of a utility company, including Florida Electric, Canadian Electric, Gas Utilities, and Other Electric, for the periods ending June 30, 2024. It includes details on regulated fuel, depreciation, and income from equity investments, as well as eliminations for inter-segment transactions.

The following disaggregates the Company's revenue by major source: Electric Gas Other Florida Canadian Other Gas Utilities Inter Electric Electric Electric and Segment millions of dollars Utility Utilities Utilities Infrastructure Other El...

AI summary The document presents a detailed breakdown of the company's revenue by source, including regulated and non-regulated revenue categories, across different segments such as residential, commercial, and industrial, for both three and six months ended June 30, 2025.

2026-2027 GRA OP-01 Attachment 4 Page 17 of 37 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Electric Gas Other Florida Canadian Other Gas Utilities Inter Electric Electric Electric and Segment millions of dollars Utility Utilities Utilities...

AI summary The document provides a detailed breakdown of regulated and non-regulated revenue for various business segments, including residential, commercial, and industrial, for the three and six months ended June 30, 2024. It includes figures for electric and gas utilities, along with regulatory deferrals and other financial details.

6. REGULATORY ASSETS AND LIABILITIES A summary of regulatory assets and liabilities is provided below. For a detailed description regarding the nature of the Company's regulatory assets and liabilities, refer to note 6 in Emera's 2024 annu...

AI summary This section provides a summary of regulatory assets and liabilities, with a reference to note 6 in Emera's 2024 annual audited consolidated financial statements for detailed information. It also mentions updates to the regulatory environment.

Base Rates: On February 3, 2025, the Florida Public Service Commission ("FPSC") issued the final order approving the rate case decision, effective January 1, 2025. In February 2025, a motion for reconsideration on certain aspects of the fi...

AI summary The Florida Public Service Commission approved a rate case decision in February 2025, which was later challenged through a motion for reconsideration and subsequent appeal. The motion was denied, except for minor corrections, and the appeal remains pending as of August 2025.

Base Rates: On March 31, 2025, PGS filed a rate case with the FPSC for new rates to become effective January 2026. PGS requested a $93 million USD increase in annual base rates, revised from the original request of $104 million USD, and an...

AI summary PGS filed a rate case with the FPSC on March 31, 2025, requesting a $93 million USD increase in annual base rates for 2026 and an additional $27 million USD for 2027. The request includes a $7 million USD rider for cast iron and bare steel replacement. A settlement agreement in principle was reached, subject to FPSC approval.

The following table reconciles the computation of basic and diluted earnings per share: Three months ended Six months ended For the June 30 June 30 millions of dollars (except per share amounts) 2025 2024 2025 2024 Numerator Net income att...

AI summary The text presents a table reconciling the computation of basic and diluted earnings per share for the periods ending June 30, 2025, and June 30, 2024, including net income, diluted numerator, weighted average shares, and earnings per share figures.

The Company has recognized the following realized and unrealized gains (losses) with respect to HFT derivatives: Three months ended Six months ended For the June 30 June 30 millions of dollars 2025 2024 2025 2024 Power swaps and physical c...

AI summary The Company has recognized realized and unrealized gains and losses from HFT derivatives, primarily related to natural gas and power swaps and physical contracts, with significant fluctuations between 2024 and 2025. The notional volumes of outstanding HFT derivatives are also outlined, showing expected settlement timelines.

Long-term debt is a financial liability not measured at FV on the Condensed Consolidated Balance Sheets. The balance consisted of the following: As at Carrying millions of dollars Amount FV Level 1 Level 2 Level 3 Total June 30, 2025 $ 18,...

AI summary The document discusses long-term debt, including its carrying value and fair value (FV) as of June 30, 2025, and December 31, 2024. It also mentions the designation of Hybrid Notes as a hedge against foreign currency exposure and the recording of foreign currency gains in Accumulated Other Comprehensive Income (AOCI) for the periods ending June 30, 2025, and 2024.

Superfund and Former Manufactured Gas Plant Sites Previously, TEC had been a potentially responsible party ("PRP") for certain superfund sites through its Tampa Electric and former PGS divisions, as well as for certain former manufactured...

AI summary The Florida utilities are liable for environmental remediation costs at superfund and former manufactured gas plant sites, with an estimated aggregate financial liability of $16 million as of June 30, 2025. These costs are recoverable through customer rates, and the liability is reflected in long-term liabilities. The estimates assume other PRPs are creditworthy, though uncertainties exist.

21. CUMULATIVE PREFERRED STOCK For details regarding cumulative preferred stock, refer to note 29 in Emera's 2024 annual audited consolidated financial statements, and below for 2025 preferred stock activity. On July 9, 2025, Emera announc...

AI summary Emera announced on July 9, 2025, that it would not redeem its outstanding Series A and Series B Cumulative Preferred Shares on August 15, 2025. It also set dividend rates for both series and allowed conversion between the two during a specified period. By August 7, 2025, it was determined that less than 1 million Series B Shares would remain, leading to the automatic conversion of all remaining Series B Shares into Series A Shares on the Conversion Date.

22. SUPPLEMENTARY INFORMATION TO CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Six months ended June 30 millions of dollars 2025 2024 Changes in non-cash working capital: Inventory $ (53) $ 13 Receivables and other current assets...

AI summary This section provides supplementary information to the condensed consolidated statements of cash flows, detailing changes in non-cash working capital and supplemental disclosures of non-cash activities for the six months ended June 30, 2025 and 2024. It includes items such as inventory, receivables, accounts payable, and accrued capital expenditures.

Regulated Statements of Income For the Three months ended Six months ended millions of Canadian dollars June 30 June 30 Actual Test Year Prior Year Actual Test Year Prior Year (1) 2025 2024 2024 (1) 2025 2024 2024 Operating revenues $ 435...

AI summary The document presents the Regulated Statements of Income for a period up to June 30, 2025, showing operating revenues, expenses, and net income. It includes adjustments related to cybersecurity incidents and provides financial figures for both three and six-month periods.

Regulated Balance Sheets As at June 30 December 31 June 30 December 31 millions of Canadian dollars 2025(1) 2024 2025(1) 2024 Assets Liabilities and Equity Current assets Current liabilities Cash and cash equivalents $ $ 8 - Bank indebtedn...

AI summary The document presents the regulated balance sheets of Nova Scotia Power Inc. as of June 30 and December 31 for 2025 and 2024. It details the company's assets, liabilities, and equity, highlighting changes in current and long-term liabilities, as well as equity components. The 2025 figures are based on legal Actual 2025 figures and include forecast unregulated adjustments due to a cybersecurity incident.

NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL OP-02 1 Requirement: 2 3 Current organizational chart of NS Power showing all positions reporting no further 4 than two levels down from the President and CEO, including a full o...

AI summary The document outlines the organizational structure of NS Power, including key positions and reporting lines up to two levels below the President and CEO, with specific details on the Fuels, Energy and Risk Management department. Attachments 1 and 2 provide the full organizational charts.

NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL OP-03 1 Requirement: 2 3 Copy of latest OM&G review undertaken since last rate filing. 4 5 Submission: 6 7 Please refer to Attachment 1.

AI summary The document outlines a requirement for NS Power to submit a copy of the latest OM&G review since the last rate filing, with the submission referenced in Attachment 1.

Methodology - ◼ The report was prepared by ScottMadden, Inc. with the support of NSPI personnel - ScottMadden, Inc. (ScottMadden) is a management consulting firm with recognized leadership in utility business planning and benchmarking - ◼...

AI summary The report was prepared by ScottMadden, Inc. with support from NSPI personnel. ScottMadden identified key performance metrics and peer groups for benchmarking, prepared analyses, and compiled the final report using data provided by NSPI, which was not independently verified.

Peer Group Selection This benchmarking analysis compares NSPI performance against a peer group of 20 other North American regulated utilities, six of which are Canadian. - ◼ FERC Form 1 filings were the source of U.S. utility data - ◼ A co...

AI summary This benchmarking analysis compares NSPI's performance against a peer group of 20 North American regulated utilities, using data from FERC Form 1 filings for U.S. utilities and a combination of annual reports and filings for Canadian utilities. Some metrics had incomplete data, leading to the exclusion of certain utilities from specific analyses.

The analysis also compares the performance of NSPI's fossil plants against peer plants. ◼ NSPI data was compared to cost data from publicly-available sources such as FERC and EIA, as well as non-publicly-available data from S&P Global Mark...

AI summary The analysis compares the performance of NSPI's fossil plants against peer plants using data from FERC, EIA, and S&P Global Market Intelligence, which models unit-level cost data based on emissions, locational marginal pricing, and dispatch data.

Presentation of Results – Operational Metrics Pages presenting operational metrics (i.e., enterprise-wide, transmission & distribution, power production, and customer operations) will resemble the figure below. - ◼ Top left chart: NSPI's r...

AI summary This section presents NSPI's operational metrics compared to peer utilities, showing results based on 5-year averages and trends from 2019 to 2023. Charts and observations are provided to benchmark NSPI's performance in enterprise-wide, transmission & distribution, power production, and customer operations.

TD1 – Transmission OM&G per Retail MWh Sold - ◼ On a 5-year average basis, NSPI Transmission OM&G per Retail MWh Sold is first quartile and second lowest among peers - ◼ NSPI Transmission OM&G per Retail MWh Sold increased 89% from 2019 to...

AI summary NSPI's Transmission OM&G per Retail MWh Sold has increased significantly over the past four years, outpacing peer growth rates. The 5-year average places NSPI in the first quartile and second lowest among peers, but the rapid increase in OM&G costs is a concern compared to slower growth in retail MWh sold.

TD2 – Transmission OM&G per Km of Transmission Line - ◼ On a 5-year average basis, NSPI Transmission OM&G per Kilometer of Transmission Line is first quartile and second lowest among peers - ◼ NSPI Transmission OM&G per Kilometer of Transm...

AI summary NSPI's Transmission OM&G per Kilometer of Transmission Line has increased significantly from 2019 to 2023, with an 85% increase compared to a 62% increase in the peer median. NSPI's OM&G per kilometer is in the first quartile and second lowest among peers on a 5-year average basis.

PP2-CoalST – Production OM&G per MWh Generated - ◼ On a 5-year average basis, NSPI Production OM&G\ per MWh Generated for Trenton Pictou, Point Tupper, and Lingan are among the five lowest in the peer group - ◼ Production OM&G per MWh Gene...

AI summary The document presents data on NSPI's Production OM&G per MWh Generated for Trenton Pictou, Point Tupper, and Lingan from 2019 to 2023. It shows significant increases in OM&G costs for these plants compared to the peer group median, with MWh Generated decreasing by 41% for all three plants in 2023 compared to 2019.

CA4 – Production Additions as % of Production Plant - ◼ On a 5-year average basis, NSPI Production Additions as a Percent of Production Plant are slightly below the peer group median - ◼ NSPI Production Additions as a Percent of Production...

AI summary The document compares NSPI's Production Additions as a Percent of Production Plant with the peer group median over a 5-year period. NSPI's percentage increased slightly from 2019 to 2023, while the peer median decreased. NSPI's production additions grew 37% in nominal terms, whereas peer median additions fell 12% during the same period.

2026-2027 GRA OP-03 Attachment 1 Page 63 of 87 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Finance & Accounting Metrics

AI summary This section of the document outlines finance and accounting metrics relevant to the 2026-2027 GRA OP-03 proceeding. It includes financial data and accounting practices that are essential for evaluating the financial health and performance of the organization.

Factors Contributing to Performance ◼ NSPI is likely a smaller utility with less revenue than many of the utilities in the APQC benchmark and it is likely that other utilities have economies of scale that NSPI does not possess. Definition:...

AI summary NSPI is likely smaller in revenue compared to other utilities in the APQC benchmark and may lack economies of scale. The IT cost-to-revenue ratio is defined as total annual IT cost (excluding depreciation/amortization) divided by total business entity revenue multiplied by 0.001, as per APQC benchmarks.

NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL OP-04 1 Requirement: 2 3 Listing of all assets (by function) (length of transmission lines by voltage class, length 4 of distribution lines by voltage, number of substations, etc...

AI summary The document outlines requirements for NS Power's 2026-2027 General Rate Application, including the submission of asset listings and maintenance schedules. Non-confidential details are provided in Attachment 1, while confidential information, such as the maintenance schedule, is referenced but not included due to confidentiality.

NS Power 2026-2027 General Rate Application CONFIDENTIAL (Attachment Only) OP-06 1 Requirement: 2 3 Breakdown of generating units by type showing in service date, net capacity, fuel type, 4 heat rate, contribution to system peak, contribut...

AI summary NS Power is submitting a General Rate Application for 2026-2027, but due to a cyber incident affecting its IT systems, it cannot currently provide requested data on system peak. The submission includes attachments with detailed information on generating units.

NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL OP-07 1 Requirement: 2 3 Physical, chemical specification sheets for all fuels. 4 5 Submission: 6 7 Please refer to Attachment 1. 2026-2027 GRA OP-07 Attachment 1 Page 1 of 9 RED...

AI summary The document outlines a requirement for NS Power to submit physical and chemical specification sheets for all fuels as part of its 2026-2027 General Rate Application. The submission details are referenced in Attachment 1, which is redacted and confidential.

NS Power 2026-2027 General Rate Application CONFIDENTIAL (Attachment Only) OP-08 1 Requirement: 2 3 IPP Contract Details 4 5 Submission: 6 7 Please refer to Confidential Attachment 1 (electronic). 2026-2027 GRA OP-08 Partially Confidential...

AI summary The document outlines a general rate application by NS Power for the 2026-2027 period, with specific details about an IPP contract included in a confidential attachment that has been removed.

NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL OP-10 1 Requirement: 2 3 Number of customers by rate class. 4 5 Submission: 6 7 Forecast average number of customers by rate class.

AI summary The document outlines a general rate application for NS Power covering the 2026-2027 period, focusing on the forecast average number of customers by rate class. It includes a submission requirement and a section for the number of customers by rate class.

NS Power 2026-2027 General Rate Application NON-CONFIDENTIAL OP-11 1 Requirement: 2 3 Electronic link to the latest Hydro Quebec report "Comparison of Electric Prices in 4 Major North American Cities." 5 6 Submission: 7 8 https://www.hydro...

AI summary The document outlines requirements for NS Power's 2026-2027 General Rate Application, including links to Hydro Quebec's electricity price report and submissions related to presentations and analyst reports. The confidential section includes attachments with investor and bondholder presentations, as well as analyst reports.

FORWARD-LOOKING INFORMATION document contains "forward-looking information" statements which reflect management's current view with respect to the Company's expectations regarding future growth, results of operations, performance, carbon d...

AI summary The document outlines forward-looking information statements by Emera, which reflect management's current expectations regarding future operations, growth, and carbon emissions reduction goals. These statements are subject to various risks and uncertainties, including regulatory, economic, and environmental factors, and should not be relied upon as guarantees of future performance.

NON-GAAP FINANCIAL MEASURES AND RATIOS Emera uses financial measures and ratios that do not have standardized meaning under USGAAP and may not be comparable to similar measures presented by other entities. Emera calculates the non-GAAP mea...

AI summary Emera uses non-GAAP financial measures and ratios to better reflect ongoing business operations and aid investor understanding. These measures are adjusted from GAAP standards and are detailed in the Q4 2022 MD&A, with reconciliations provided in the appendix.

Emera at a Glance $7.6 B 2022 revenue 1 6 High-quality regulated utilities $40 B total assets1 41% reduction in CO 2 emissions since 2005 1 60%+ capital plan committed to cleaner, reliable energy 68 % reduction in use of coal in generation...

AI summary Emera, a company with six high-quality regulated utilities, reported a 2022 revenue of $7.6 billion and total assets of $40 billion. It has reduced CO2 emissions by 41% since 2005 and plans a $8.9 billion capital investment from 2024 to 2026, with 75% focused in Florida. The company aims for a 10.0% annualized 10-year total shareholder return and has committed 60% of its capital plan to cleaner, reliable energy.

10.0% Annualized 10-year TSR 4 Emera's Value Proposition

AI summary The document introduces Emera's Value Proposition, focusing on its 10.0% annualized 10-year total shareholder return (TSR). This section highlights the company's financial performance and long-term value creation for shareholders.

Constructive Regulatory Environments - Highly rated regulatory environments - 95%+ of earnings from regulated investments 5 - 1 Forecasted capital spend 2024-2026 in millions of CAD, includes $240M of additions to Emera's equity investment...

AI summary The text highlights a highly rated regulatory environment with over 95% of earnings from regulated investments. It includes forecasted capital spending from 2024 to 2026, potential rate base growth, and references to adjusted net income figures from 2022, excluding corporate losses.

Portfolio of High-Quality Regulated Assets Emera's regulated assets are primarily in favourable economic jurisdictions that are experiencing above average growth

AI summary Emera's regulated assets are mainly located in economically favorable jurisdictions experiencing above-average growth, indicating a strategic positioning for long-term value and stability.

Population Growth Driving Customer Growth - Florida was the fastest growing state between 2021 and 2022, achieving population growth of ~2% - 〉 TEC experienced customer growth of ~2% - 〉 PGS experienced customer growth of ~5% - Atlantic Ca...

AI summary The document highlights population growth trends, noting that Florida and Atlantic Canada experienced significant increases, with Nova Scotia achieving a 3% population growth. Corresponding customer growth rates for TEC, PGS, and NSPI are also outlined, reflecting the impact of population increases on customer numbers.

Peoples Gas Rate Case Details - $107M USD increase in annual base rates - $11M USD Cast Iron Bare Steel rider - 10.15% mid-point ROE up from 9.95% - Allowed equity thickness of 54.7% unchanged - Received 85% of the ask as filed

AI summary The Peoples Gas Rate Case details a proposed $107M USD annual base rate increase, along with a $11M USD Cast Iron Bare Steel rider, and a slight increase in the mid-point ROE from 9.95% to 10.15%. The allowed equity thickness remains at 54.7%, and 85% of the requested rate increase was approved.

- Equity thickness set at 40% for rate setting purposes – previously 37.5% 2023 2024 Non-Fuel Base Rate 1.8% 0.0% DSM 3.6% 0.3% Total Non-Fuel Increase 5.4% 0.3% Fuel Related1 Fuel Rate Increase 1.5% 6.6% Total Increase 6.9% 6.9%

AI summary The equity thickness for rate setting has been increased from 37.5% to 40%. The table shows the non-fuel and fuel-related rate increases for 2023 and 2024, with significant changes in the DSM and fuel rate components.

Financial Highlights 5-year annual adjusted EPS 1 growth 2 6.4% 4-5% dividend growth target through 2026 95% Adjusted net income from regulated utilities 3 1 Adjusted EPS is a non-GAAP ratio 2 Excluding contribution from sold assets and ex...

AI summary The document highlights a 6.4% 5-year annual adjusted EPS growth, a 4-5% dividend growth target through 2026, and 95% adjusted net income from regulated utilities in 2022. Adjusted EPS and net income are non-GAAP measures, excluding corporate losses and litigation settlements.

2. Earnings Growth • Translate rate base growth into earnings growth by managing capital deployment with timing of regulatory filings and through prudent cost management

AI summary The document discusses translating rate base growth into earnings growth by managing capital deployment through the timing of regulatory filings and prudent cost management.

3. Dividend Growth • Achieve earnings growth to continue to support dividend increases

AI summary The section outlines the goal of achieving earnings growth to support continued dividend increases, indicating a focus on financial performance and shareholder returns.

4. Payout Ratio • Achieve earnings growth in excess of dividend growth to continue progress towards target payout ratio

AI summary The section discusses the goal of achieving earnings growth that exceeds dividend growth in order to progress toward a target payout ratio.

Strong record of execution - Capital plan fully deployed in each of the last four years - Excluding the impact of asset sales in 2018 and the litigation settlement in 2022, annual adjusted EPS 1 growth of 5.5% over the last four years 2 -...

AI summary The text highlights a strong record of execution by Nova Scotia Power Inc. (NSPI), including a fully deployed capital plan, consistent dividend increases, and improved financial metrics like adjusted EPS growth and payout ratios. These achievements are attributed to strategic decisions and portfolio optimization.

Emera delivers a competitive, predictable earnings growth profile - Since 2017, delivered annual adjusted EPS 1 growth of 5.4% - Excluding contribution from sold assets and excluding litigation settlement recognized in 2022, achieved 6.4%...

AI summary Emera has delivered consistent adjusted EPS growth since 2017, with 5.4% annual growth. Excluding the impact of sold assets and a 2022 litigation settlement, the growth rate was 6.4%.

Highlights - 5.7% Dividend yield 1 - 4-5% target growth through 2026 - 5% CAGR since 2000 - 17 years of consecutive dividend growth

AI summary The highlights section outlines NSPI's financial performance, including a 5.7% dividend yield, a 4-5% growth target through 2026, a 5% compound annual growth rate since 2000, and 17 years of consecutive dividend growth.

Continued decrease in dividend payout ratio of adjusted net income expected - 2024-2026 dividend growth guidance of 4-5% approved by the Board of Directors in September 2023 - Dividend increases are at the discretion of the Board of Direct...

AI summary The Board of Directors has approved a 4-5% dividend growth guidance for 2024-2026. Dividend increases are at the Board's discretion. Earnings growth exceeding dividend growth will help achieve a long-term target payout ratio of 70-75% of adjusted net income. The 2022 payout ratio was affected by a $45 million litigation settlement.

Projected Cash flow improvements in 2024 - 6.9% rate increase at NSPI effective January 1, 2024 ($115M) - New base rates at Peoples Gas effective January 1, 2024 ($107M USD) - New base rates at Tampa Electric effective January 1, 2024 ($21...

AI summary The text outlines projected cash flow improvements for 2024, including rate increases at NSPI, Peoples Gas, Tampa Electric, and NMGC, along with target asset sales and continued business growth.

Regulatory Arrangements In November 2022, NSP filed a proposed settlement for the GRA, reached between NSP and key customer representatives. The settlement was substantially approved on February 2, 2023, with rates effective the date of th...

AI summary In November 2022, NSP filed a proposed settlement for the GRA, which was reached with key customer representatives. The settlement was substantially approved on February 2, 2023, with rates becoming effective on the date of approval.

Rate Base Forecast by Affiliate 1 2022A 22'–26' 22'–26' CAGR 2022A Adjusted FX2 2023F 2024F 2025F 2026F CAGR Adjusted FX US OPERATIONS Tampa Electric3,4 $ 9,230 $ 9,230 $ 10,225 $ 11,040 $ 11,900 $ 12,750 8.4% Peoples Gas3 1,880 1,880 2,18...

AI summary The document presents a rate base forecast by affiliate for various operations, including US and CAD operations, with projections from 2022 to 2026. It includes financial figures, growth rates, and FX rate assumptions for different entities such as Tampa Electric, Peoples Gas, and Nova Scotia Power.

Interest Rate Impacts by Segment (Pre-tax, Compared to 2022) in millions of CAD As of September 30, 2023 Thre ee months ended Nine months ended Florida Electric $ (18) $ (77) Canadian Utilities (9) (29) Gas Utilities & Infrastructure (13)...

AI summary The document presents interest rate impacts by segment for the period ending September 30, 2023, compared to 2022, showing losses across various segments. It also mentions mitigating factors related to regulatory lag.

Rate Settlement Periods at Core Utilities Tampa Electric: 2022-2024 Nova Scotia Power: 2023-2024 New Mexico Gas 1 : 2023

AI summary The document lists rate settlement periods for various utilities, including Tampa Electric (2022-2024), Nova Scotia Power (2023-2024), and New Mexico Gas (2023).

Non-GAAP Reconciliation Three months ended December 31 Year ended December 31 2022 2021 2022 2021 Florida Electric $ 124 85 596 462 Canadian Electric 46 67 222 241 Gas Utilities & Infrastructure 72 55 221 198 Other Electric Utilities 8 5 2...

AI summary The Non-GAAP Reconciliation table provides a breakdown of financial figures for various electric and gas utilities, including adjusted net income, corporate costs, and EPS calculations for the periods ending December 31, 2022 and 2021.

OTHER Rate base is a financial measure specific to rate-regulated utilities that is not intended to represent any financial measure as defined by GAAP. The measure is required by the regulatory authorities in the jurisdictions where Emera'...

AI summary The document explains that rate base is a financial measure used by rate-regulated utilities, which differs from GAAP measures. It is required by regulatory authorities in jurisdictions where Emera's subsidiaries operate and is discussed in the MD&A.

Highlights - 17% decrease in quarterly adjusted EPS 1 , and 2% decrease in annual adjusted EPS 1 excluding the impact of a $45M TGH award 2 - ~$3.0 billion of rate base investment in 2023, 12% higher than in 2022 and a record annual spend...

AI summary The document highlights a 17% decrease in quarterly adjusted EPS and a 2% decrease in annual adjusted EPS, excluding the impact of a $45M TGH award. There was a $3.0 billion rate base investment in 2023, a 12% increase from 2022, and a 5.3% 3-year compound annual growth in adjusted EPS.

2023 Adjusted Net Income1,2 Note: Millions of Canadian dollars (except per share amounts), 1 Adjusted net income and adjusted EPS are a non-GAAP measure and non-GAAP ratio, respectively. See appendix for reconciliation to the nearest GAAP...

AI summary The document discusses the 2023 Adjusted Net Income, highlighting it as a non-GAAP measure. It includes a note about the reconciliation to GAAP measures and mentions the impact of the TGH award on 2022 results.

Record Annual Cash From Operations before changes in working capital

AI summary The document discusses record annual cash from operations before changes in working capital, supported by a figure referenced on page 92.

Prudent investment in rate base while minimizing lag - New rates at PGS in 2024 - Full year of LIL dividends in 2024 - Filed for new rates at NMGC - Filing for new rates at Tampa Electric - Issued $670M of equity via the ATM and DRIP

AI summary The document outlines various filings and financial activities, including new rate filings at PGS and Tampa Electric, the issuance of $670M in equity, and the receipt of full year LIL dividends in 2024. These actions are part of broader efforts to manage the rate base prudently.

Interest Expense Impacts by Segment (Pre-tax, Compared to 2022) in millions of CAD As of December 31, 2023 Th ree months ended Year ended Florida Electric $ (9) $ (86) Canadian Utilities (5) (34) Gas Utilities & Infrastructure (14) (48) Ot...

AI summary The document presents interest expense impacts by segment for the period ending December 31, 2023, compared to 2022, highlighting significant pre-tax expenses across various segments. It also mentions mitigating factors related to regulatory lag, indicating potential considerations for regulatory proceedings.

Foreign Exchange and Interest Rate Exposure Foreign Exchange Exposure As of December 31, 2023 Approximate % of USD Earnings Hedged Rate 2024 48% 1.33 2025 27% 1.35 Interest Rate Exposure As of December 31, 2023 Notional amount (in millions...

AI summary The document outlines the foreign exchange and interest rate exposure of the company as of December 31, 2023. Approximately 48% of USD earnings for 2024 and 27% for 2025 are hedged. The company has variable rate debt at HoldCos and OpCos totaling CAD 1,150 million and CAD 1,463 million, respectively, representing 8% and 7% of total debt.

Emera Energy Quarterly Adjusted Earnings Contribution Millions $CAD Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Marketing & Trading $ 25 (7) 8 39 53 (25) (4) 19 Maritimes Canada - (1) (1) (3) (1) 3 - (1) Bear Swamp 2 2 1 5 4 2 7 7 TOTA...

AI summary The document presents quarterly and annual adjusted net income figures for Emera Energy's Marketing & Trading segment, showing fluctuations over the years. It includes data from Q1/22 to Q4/23 and compares it with annual figures from 2016 to 2023.

About Emera 6 High-quality regulated utilities $39 B total assets 2 2023 adjusted net income 1 Excluding corporate $1.2 B net loss 1 Based on 2023 adjusted net income, excluding corporate net loss ($356M). Adjusted net income is a non-GAAP...

AI summary The text provides an overview of Emera, highlighting its high-quality regulated utilities with total assets of $39 billion as of December 31, 2023. It also mentions the 2023 adjusted net income, excluding a corporate net loss of $356 million, which is a non-GAAP measure.

Emera at a Glance $7.6 B 2023 revenue 1 High-quality regulated utilities $39 B total assets1 47 % reduction in CO 2 emissions since 2005 1 62 % of capital plan committed to cleaner, reliable energy 77 % reduction in use of coal in generati...

AI summary Emera provides an overview of its financial and operational highlights, including revenue, total assets, CO2 emissions reduction, capital plan commitments, and dividend growth targets. The company emphasizes its focus on clean energy and regulated utilities, with a significant portion of its capital plan allocated to Florida.

Constructive Regulatory Environments - Highly rated regulatory environments - 96% of earnings from regulated investments 5 - 1 Forecasted capital spend 2024-2026 in millions of CAD, includes $240M of additions to Emera's equity investment...

AI summary The text discusses a highly rated regulatory environment with 96% of earnings from regulated investments. It includes forecasted capital spend from 2024-2026, potential capital investments, and adjusted net income figures. These figures exclude corporate net loss and are based on non-GAAP measures.

Portfolio of High-Quality Regulated Assets Emera's regulated assets are primarily in favourable economic jurisdictions that are experiencing above average growth

AI summary Emera's regulated assets are primarily located in economically favorable jurisdictions experiencing above average growth.

Our world is changing quickly, and we're ready Our proven strategy has been driving our growth for nearly two decades. Our strategic focus balances our efforts to deliver cleaner energy with critical reliability investments, without overlo...

AI summary The text outlines the company's strategic focus on driving growth through cleaner energy, reliability investments, and managing customer costs, while responding to industry trends such as decarbonization, decentralization, and digitalization.

NSP 2022 GRA Settlement Details - New rates will result in $160M in incremental nonfuel revenues through 2024 - No change to midpoint ROE of 9.0% or earnings band of 8.75% - 9.25%

AI summary The NSP 2022 GRA Settlement Details outline new rates that will generate $160M in incremental nonfuel revenues through 2024, with no changes to the midpoint return on equity (ROE) of 9.0% or the earnings band of 8.75% - 9.25%.

Tampa Electric - On February 1, 2024, TEC indicated its intent to file for new rates. The request will include: - Increased base rates of $290M-$320M USD in 2025 - Increased base rates of $100M and $70M USD in 2026 and 2027, respectively

AI summary Tampa Electric (TEC) plans to file for new rates, requesting increased base rates of $290M-$320M USD in 2025 and $100M and $70M USD in 2026 and 2027, respectively.

New Mexico Gas - In September 2023, NMGC filed a rate application for new rates effective October 2024 - NMGC requested a ~$49M USD increase in annual base rates, reflecting an ROE of 10.5% (currently 9.375%) and a capital structure of 53%...

AI summary NMGC filed a rate application in September 2023 requesting a ~$49M USD increase in annual base rates, effective October 2024, based on a requested ROE of 10.5% (currently 9.375%) and a capital structure of 53%/47% equity/debt (currently 52%/48%).

Emera delivers a competitive, predictable earnings growth profile • Excluding contribution from sold assets, achieved 4.7% annual adjusted EPS 1 growth since 2018 1 Adjusted EPS is a non-GAAP ratio Adjusted EPS Emera Maine, NEGG Contributi...

AI summary Emera has achieved a 4.7% annual adjusted EPS growth since 2018, excluding contributions from sold assets. This growth is highlighted as part of a competitive and predictable earnings growth profile. Adjusted EPS is a non-GAAP ratio, and the figures include various components such as Emera Maine, NEGG Contribution, TGH Award, and Annual Dividend.

Highlights - 5.7% Dividend yield 1 - 4-5% target growth through 2026 - 5% CAGR since 2000 - 17 years of consecutive dividend growth

AI summary The document highlights key financial metrics including a 5.7% dividend yield, a 4-5% growth target through 2026, a 5% compound annual growth rate since 2000, and 17 years of consecutive dividend growth.

Projected Cash flow improvements in 2024 - 6.9% rate increase at NSPI effective January 1, 2024 ($115M) - New base rates at Peoples Gas effective January 1, 2024 ($107M USD) - New base rates at Tampa Electric effective January 1, 2024 ($21...

AI summary The document outlines projected cash flow improvements in 2024, including rate increases at NSPI, Peoples Gas, and Tampa Electric, as well as potential asset sales and the province of Nova Scotia acquiring a portion of the FAM balance.

Dividend Reinvestment Plan ("DRIP") - Participation rate of approximately 30% 35% - Provides common equity of approximately $250M-$280M per year

AI summary The Dividend Reinvestment Plan (DRIP) has a participation rate of approximately 30% to 35% and provides common equity of about $250M to $280M annually.

Recent Regulatory Activity On February 1, 2024, TEC indicated its intent to file for new rates, which included the intent to request increased base rates of $290M-$320M in 2025, $100M in 2026 and $70M in 2027

AI summary On February 1, 2024, TEC announced its intent to file for new rates, requesting increased base rates of $290M-$320M in 2025, $100M in 2026, and $70M in 2027.

Regulatory Arrangements In November 2022, NSP filed a proposed settlement for the GRA, reached between NSP and key customer representatives. The settlement was substantially approved on February 2, 2023, with rates effective the date of th...

AI summary In November 2022, NSP filed a proposed settlement for the GRA, reached between NSP and key customer representatives. The settlement was substantially approved on February 2, 2023, with rates effective the date of the approval.

EMERA ENERGY SERVICES - $15-30 million USD annual adjusted earnings ($45-70 million USD of margin). - Earnings dependent on market conditions. - Low-risk operations with minimal commodity exposure.

AI summary Emera Energy Services has annual adjusted earnings of $15-30 million USD, with margins of $45-70 million USD. Earnings are influenced by market conditions, and operations are considered low-risk with minimal commodity exposure.

Regulatory Update - In December 2023, the FPSC approved Peoples Gas' rate request in a fully litigated process – new rates commenced in January 2024 - In January 2024, NSPI filed a proposal with the regulator for the Province to acquire $1...

AI summary The FPSC approved Peoples Gas' rate request in December 2023, with new rates starting in January 2024. NSPI proposed acquiring part of the FAM balance in January 2024. TEC plans to file for new rates in February 2024, with increases expected in 2025, 2026, and 2027. New Mexico Gas' rate application hearings are scheduled for April 2024. The Nova Scotia Clean Electricity Solutions Task Force issued its final report on February 23, 2024.

2023 Adjusted Net Income1,2 Note: Millions of Canadian dollars (except per share amounts), 1 Adjusted net income and adjusted EPS are a non-GAAP measure and non-GAAP ratio, respectively. See appendix for reconciliation to the nearest GAAP...

AI summary The document discusses the 2023 Adjusted Net Income, noting that it is a non-GAAP measure. It also mentions that the 2022 results were impacted by the TGH award. Financial figures are presented in millions of Canadian dollars, excluding per share amounts.

Q4 2023 Adjusted EPS 1 Note: Segment impacts exclude the impact of changes in foreign exchange rates & lt;sup>1 Adjusted EPS is a non-GAAP ratio; & lt;sup>2 Includes $(0.03) and $(0.01) from Corporate and Other Electric, respectively; & lt...

AI summary This section discusses Q4 2023 Adjusted EPS, a non-GAAP ratio, and provides notes on segment impacts, excluding foreign exchange rate changes. It also includes adjustments from Corporate and Other Electric segments, as well as impacts from compensation timing and foreign exchange hedge losses.

2023 Adjusted EPS 1 Note: Segment impacts exclude the impact of changes in foreign exchange rates & lt;sup>1 Adjusted EPS is a non-GAAP ratio; & lt;sup>2 Includes $0.03 and $0.02 from Florida Electric and Other Electric, respectively; & lt...

AI summary The document discusses the 2023 Adjusted EPS, a non-GAAP financial metric, highlighting segment impacts excluding foreign exchange rate changes. It includes adjustments from Florida Electric, Other Electric, long-term compensation timing, and foreign exchange hedge losses compared to 2022.

Interest Expense Impacts by Segment (Pre-tax, Compared to 2022) in millions of CAD As of December 31, 2023 Thre e months ended Year ended Florida Electric $ (9) $ (86) Canadian Utilities (5) (34) Gas Utilities & Infrastructure (14) (48) Ot...

AI summary The table shows the interest expense impacts by segment for the period ending December 31, 2023, compared to 2022. The total interest expense is reported as (35) million CAD for three months and (216) million CAD for the year ended. The section also mentions mitigating factors related to regulatory lag.

Nova Scotia Power - In April 2024, the UARB approved the provincial government's proposal to acquire $117 million of the NSPI FAM balance and collect if from rate payers over 10 years - Proceeds were received on April 30th Financial Highli...

AI summary In April 2024, the UARB approved the provincial government's proposal to acquire $117 million of the NSPI FAM balance, to be collected from rate payers over 10 years. Proceeds were received on April 30th. Financial highlights are provided by Greg Blunden, the Chief Financial Officer.

Highlights - + New rates at PGS and NSPI + - + Florida customer growth above the national average + - Mildest weather in 50 years at Tampa Electric - Lower asset management agreement contributions at NMGC - Higher operating costs at OpCos...

AI summary The document highlights updates on new rates at PGS and NSPI, Florida's customer growth, weather conditions at Tampa Electric, and changes in contributions and operating costs at various companies including NMGC, OpCos, and Emera Energy.

Q1 2024 Adjusted EPS 1 Note: Segment impacts exclude the impact of changes in foreign exchange rates & lt;sup>1 Adjusted EPS is a non-GAAP ratio; & lt;sup>2 Includes $0.02 and $0.01 from Other Electric and Gas Utilities, respectively & lt;...

AI summary The document provides information on Q1 2024 Adjusted EPS, noting that it is a non-GAAP ratio and includes impacts from various factors such as Other Electric and Gas Utilities and timing of long-term compensation related hedges. The impact of foreign exchange rate changes is excluded from segment impacts.

Interest Expense Impacts Interest Expense Impacts by Segment (Pre-tin millions of CAD ax, Compared to 2023) As of March 31, 2024 Three months ended Florida Electric $ - Canadian Utilities 1 Gas Utilities & Infrastructure (14) Other Electri...

AI summary The document presents interest expense impacts by segment as of March 31, 2024, with notable figures for Canadian Utilities and Gas Utilities & Infrastructure. It also references mitigating factors related to regulatory lag.

Sustainable Dividend Growth - 5.0% annualized dividend growth since the year 2000 - 5.7% dividend vield 3 - 17 years of sustainable dividend growth and 5% CAGR since 2000

AI summary The text highlights Nova Scotia Power Inc.'s achievement of 5.0% annualized dividend growth since 2000, with a 5.7% dividend yield and 17 years of sustainable growth at a 5% compound annual growth rate.

Constructive Regulatory Environments - Highly rated regulatory environments - 96% of earnings from regulated investments 5 & lt;sup>1 Forecasted capital spend 2024-2026 in millions of CAD & lt;sup>2 An additional $1.9 billion of potential...

AI summary The text highlights the importance of a constructive regulatory environment, noting that 96% of earnings come from regulated investments. It also mentions forecasted capital spending and potential rate base growth, with references to adjusted net income and non-GAAP measures.

Portfolio of High-Quality Regulated Assets Emera's regulated assets are primarily in favourable economic jurisdictions that are experiencing above average growth

AI summary Emera's regulated assets are located in economically favorable jurisdictions experiencing above average growth.

Regulatory Arrangements In November 2022, NSP filed a proposed settlement for the GRA, reached between NSP and key customer representatives. The settlement was substantially approved on February 2, 2023, with rates effective the date of th...

AI summary In November 2022, NSP filed a proposed settlement for the GRA, reached between NSP and key customer representatives. The settlement was substantially approved on February 2, 2023, with rates effective the date of the approval.

EMERA ENERGY SERVICES - $15-30 million USD annual adjusted earnings ($45-70 million USD of margin). - Earnings dependent on market conditions. - Low-risk operations with minimal commodity exposure.

AI summary EMERA ENERGY SERVICES has annual adjusted earnings of $15-30 million USD, with earnings influenced by market conditions. The company operates with low risk and minimal commodity exposure.

Sale of New Mexico Gas Company - Entered into an agreement to sell NMGC to Bernhard Capital Partners ("BCP") - Net proceeds of ~$750 million USD after-tax and the assumption of $500 million USD in debt - Valuation of 23.0x last-twelve-mont...

AI summary Nova Scotia Power (NSP) has entered into an agreement to sell New Mexico Gas Company (NMGC) to Bernhard Capital Partners (BCP) for ~$750 million USD after-tax, with the assumption of $500 million USD in debt. The valuation is 23.0x last-twelve-months earnings and 1.42x rate base, with the transaction expected to close in late 2025. This sale is expected to strengthen the balance sheet and support the capital plan, focusing investments in high-growth jurisdictions.

Tampa Electric - Filed in April 2024 for new rates effective January 1, 2025 - o Request included increased revenue requirements of $297M USD in 2025, $100M USD in 2026 and $72M USD in 2027; - o 11.50% ROE midpoint up from the current 10.2...

AI summary Tampa Electric has filed for new rates effective January 1, 2025, requesting increased revenue requirements of $297M USD in 2025, $100M USD in 2026, and $72M USD in 2027, along with a higher return on equity (ROE) midpoint of 11.50% compared to the current 10.20%, while maintaining the current 54% equity thickness. The hearing is scheduled for August 26-30, 2024, with a decision expected in November.

New Mexico Gas - On July 25, 2024, the New Mexico Gas rate case settlement agreement was unanimously approved by the New Mexico Public Regulation Commission - o Settlement includes $30M of new base rates, effective October 1, 2024 - o Rate...

AI summary The New Mexico Public Regulation Commission unanimously approved a rate case settlement agreement for New Mexico Gas on July 25, 2024. The agreement includes a $30M increase in base rates, effective October 1, 2024, with the rate of return on equity and equity percentage remaining unchanged. The weather normalization mechanism will transition from a pilot program to a standard tariff.

Grand Bahama Power Corporation ("GBPC") - On August 1, 2024, GBPC filed a rate plan proposal with their regulator - Proposal seeks a revision in base rates, charges and tariff classifications effective January 1, 2025 for a three-year peri...

AI summary Grand Bahama Power Corporation (GBPC) filed a rate plan proposal with their regulator on August 1, 2024, seeking a revision in base rates, charges, and tariff classifications effective January 1, 2025, for a three-year period. The proposed rates are based on an 8.5-8.7% allowable regulated return on rate base and a target regulatory ROE of 12.87%, with a decision expected by the end of 2024.

YTD 2024 Adjusted EPS 1 Waterfall Note: Segment impacts exclude the impact of changes in FX rates 1 Adjusted EPS is a non-GAAP ratio. 2 Includes $0.06 unfavourable impact from timing of long-term compensation and related hedges. The impact...

AI summary The document provides a breakdown of YTD 2024 Adjusted EPS, highlighting a non-GAAP metric that excludes FX rate changes. It notes an unfavourable impact of $0.06 from the timing of long-term compensation and related hedges, with FX hedge impacts being immaterial.

Rate Base Forecast by Affiliate1,7 2022A 22'–26' 22'–26' CAGR 2022A Adjusted FX2 2023A 2024F 2025F 2026F CAGR Adjusted FX US OPERATIONS Tampa Electric3,4 $ 9,230 $ 9,230 $ 10,195 $ 11,040 $ 11,900 $ 12,750 8.4% Peoples Gas3 1,880 1,880 2,1...

AI summary The document presents a rate base forecast for various affiliates, including Tampa Electric, Peoples Gas, and Nova Scotia Power, with expected growth rates ranging from -1.3% to 12.3% between 2022 and 2026. The overall rate base growth is projected to be 7-8% through 2029.

in millions of CAD As of June 30, 2024 Three months ended Six months ended Florida Electric $ (6) (6) Canadian Utilities 1 - Gas Utilities & Infrastructure 3 6 20 Other Electric (1) (1) Other 15 22 Total $ 15 35 Mitigating factors to regul...

AI summary The table presents financial figures in millions of CAD for various entities as of June 30, 2024, and for the three and six months ended. It includes entries for Florida Electric, Canadian Utilities, Gas Utilities & Infrastructure, Other Electric, Other, and Total. The section 'Mitigating factors to regulatory lag' suggests a discussion on factors affecting regulatory delays.

Effective & Collaborative Regulatory Environments - Highly rated regulatory environments - 96% of earnings from regulated investments 5 - Forecasted capital spend 2024-2026 in millions of CAD forecasted USD capital spend translated at $1.3...

AI summary The text highlights a highly rated regulatory environment with 96% of earnings from regulated investments. It mentions forecasted capital spend from 2024 to 2026, adjusted EPS as a non-GAAP ratio, and an announced agreement for the sale of NMGC in August 2024, with updated capital forecasts to be provided in Emera's 2024 annual capital refresh.

Population Growth Driving Customer Growth - Florida was one of the fastest growing states between 2022 and 2023, achieving population growth of ~2% - 〉 TEC experienced customer growth of ~2% - 〉 PGS experienced customer growth of ~5% - Nov...

AI summary The text discusses population growth in Florida and Nova Scotia and its impact on customer growth for various entities. Florida saw ~2% population growth and ~2% customer growth for TEC and ~5% for PGS. Nova Scotia maintained a ~3% population growth, resulting in >1% customer growth for NSPI.

Load Growth through Electrification - Florida has the second highest penetration of EVs in the US - In Nova Scotia, incentives for heat pump adoption are accelerating conversion of home heating from oil to electric 1 Based on 2023 adjusted...

AI summary The document discusses load growth through electrification, highlighting Nova Scotia's incentives for heat pump adoption and Florida's high EV penetration. It includes financial data based on adjusted net income and references figures and pictures.

NSP 2022 GRA Settlement Details - New rates will result in $160M in incremental non-fuel revenues through 2024 - No change to midpoint ROE of 9.0% or earnings band of 8.75% - 9.25% - Equity thickness set at 40% for rate setting purposes –...

AI summary The NSP 2022 GRA Settlement Details outline new rates that will generate an additional $160M in non-fuel revenues by 2024. The midpoint ROE remains at 9.0%, and the earnings band stays between 8.75% and 9.25%. The equity thickness for rate setting has been increased from 37.5% to 40%.

Peoples Gas 2023 Rate Case Details - $107M USD increase in annual base rates - $11M USD Cast Iron Bare Steel rider - 10.15% mid-point ROE up from 9.95% - Allowed equity thickness of 54.7% unchanged

AI summary Peoples Gas is requesting a $107M USD annual base rate increase and a $11M USD Cast Iron Bare Steel rider. The mid-point return on equity (ROE) has increased to 10.15%, while the allowed equity thickness remains at 54.7%.

- Received 85% of the ask as filed 2023 2024 Non-Fuel Base Rate 1.8% 0.0% DSM 3.6% 0.3% Total Non-Fuel Increase 5.4% 0.3% Fuel Related1 Fuel Rate Increase 1.5% 6.6% Total Increase 6.9% 6.9%

AI summary The document shows that 85% of the requested increase was approved, with a breakdown of non-fuel and fuel-related rate increases for 2023 and 2024. Non-fuel increases were 5.4% in 2023 and 0.3% in 2024, while fuel-related increases were 1.5% in 2023 and 6.6% in 2024.

5-YEAR ANNUALIZED TSR 2,3 7.8 %

AI summary The 5-year annualized TSR is reported as 7.8%, indicating the total shareholder return over a five-year period. This metric reflects the overall return to shareholders, including both stock price appreciation and dividends.

Emera 9.7% TSX Capped Utilities Index 6.7% Canadian Peers 4 11.4% TSX Composite Total Shareholder Return

AI summary The document presents Total Shareholder Return percentages for Emera compared to the TSX Capped Utilities Index, Canadian Peers, and the TSX Composite, highlighting performance metrics relative to different benchmarks.

Recent Regulatory Activity Filed in April 2024 for new rates effective January 1, 2025. Request included increased revenue requirements of $297M USD in 2025, $100M USD in 2026 and $72M USD in 2027; an 11.50% ROE midpoint – up from the curr...

AI summary A rate filing was submitted in April 2024 for new rates effective January 1, 2025, requesting increased revenue requirements of $297M USD in 2025, $100M USD in 2026, and $72M USD in 2027, along with an increase in the return on equity midpoint from 10.20% to 11.50%. The hearing was completed in August 2024, with a decision expected in November 2024.

Regulatory Arrangements In November 2022, NSP filed a proposed settlement for the GRA, reached between NSP and key customer representatives. The settlement was substantially approved on February 2, 2023, with rates effective the date of th...

AI summary In November 2022, NSP filed a proposed settlement for the GRA, which was reached with key customer representatives and substantially approved on February 2, 2023, with rates effective from the approval date.

New Mexico Gas Largest gas utility in New Mexico serving 60% of the state's population. Announced agreement for sale of NMGC on August 5, 2024 the sale is pending regulatory and other approvals and is expected to close in late 2025.

AI summary New Mexico Gas (NMGC), the largest gas utility in New Mexico serving 60% of the state's population, has announced an agreement for its sale on August 5, 2024. The sale is pending regulatory and other approvals and is expected to close in late 2025.

Regulatory Arrangements - On August 1, 2024, GBPC filed a rate plan proposal, to be effective effective on January 1, 2025, for a three-year period, based on an 8.5-8.7% allowable regulated return on rate base and a target regulatory ROE o...

AI summary GBPC filed a rate plan proposal for 2025-2027 with an 8.5-8.7% allowable return on rate base and a target ROE of 12.87%. BLPC's motion to review was dismissed by the FTC but successfully appealed to the High Court of Barbados.

EMERA ENERGY SERVICES - $15-30 million USD annual adjusted earnings ($45-70 million USD of margin). - Earnings dependent on market conditions. - Low-risk operations with minimal commodity exposure.

AI summary EMERA ENERGY SERVICES has annual adjusted earnings of $15-30 million USD, with earnings influenced by market conditions. The company operates with low risk and minimal commodity exposure.

FORWARD-LOOKING INFORMATION This document contains "forward-looking information" ("FLI") and statements which reflect the current view with respect to the Company's expectations regarding future growth, results of operations, performance,...

AI summary The document contains forward-looking information (FLI) about the Company's future growth, operations, and the pending sale of NMGC. It emphasizes that FLI is based on management's current beliefs and assumptions and is subject to various risks and uncertainties that could cause actual results to differ significantly from expectations.

NON-GAAP FINANCIAL MEASURES AND RATIOS Emera uses financial measures and ratios that do not have standardized meaning under USGAAP and may not be comparable to similar measures presented by other entities. Emera calculates the non-GAAP mea...

AI summary Emera uses non-GAAP financial measures and ratios to better reflect ongoing business operations, adjusting GAAP measures for specific items. These measures are detailed in the MD&A sections of Emera's Q4 2023 and Q3 2024 reports, with reconciliations provided in the appendix.

New Mexico Gas - Rate Case Settlement - o Unanimously approved in July 2024 - o $30M USD in new rates effective October 1, 2024 - Change of control application filed in October 2024 - 6 • A hearing examiner has been assigned. The pre-heari...

AI summary The document discusses the approval of a rate case settlement for New Mexico Gas, effective October 1, 2024, with a new rate of $30M USD. A change of control application was filed in October 2024, and a hearing examiner has been assigned with a pre-hearing conference scheduled for November 20th.

Q3 2024 Adjusted EPS 1 Note: Segment impacts exclude the impact of changes in foreign exchange rates & lt;sup>1 Adjusted EPS is a non-GAAP ratio; & lt;sup>2 The impact of timing differences in the valuation of a long-term incentive expense...

AI summary The Q3 2024 Adjusted EPS report highlights financial performance metrics, including the impact of long-term incentive expenses, foreign exchange hedges, and contributions from various electric segments. Adjusted EPS is a non-GAAP ratio, and the report provides context on factors influencing earnings, such as timing differences and segment impacts.

YTD 2024 Adjusted EPS 1 Note: Segment impacts exclude the impact of changes in foreign exchange rates & lt;sup>1 Adjusted EPS is a non-GAAP ratio; & lt;sup>2 Includes $(0.09) impact from Canadian Electric and $(0.01) Contribution from Othe...

AI summary The document presents YTD 2024 Adjusted EPS, highlighting factors such as impacts from Canadian Electric, contributions from Other Electric, and the Labrador Island Link's earnings. It also notes the immaterial impact of foreign exchange hedges and changes in long-term incentive expense valuations.

2026-2027 GRA OP-12 Attachment 1 Page 299 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Foreign Exchange Exposure As of September 30, 2024 Approximate % of USD Earnings Hedged Rate 2024 62% 1.34 2025 58% 1.36 2026 13% 1.35 Interest Ra...

AI summary The document outlines foreign exchange and interest rate exposure as of September 30, 2024. It shows a decrease in the percentage of USD earnings hedged from 62% in 2024 to 13% in 2026, and details the distribution of variable and fixed rate debt across HoldCos and OpCos.

2026-2027 GRA OP-12 Attachment 1 Page 300 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Millions $CAD Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Marketing & Trading $ 39 53 (25) (4) 19 45 (24) (7) Maritimes Canada (3) (1) 3 - (1)...

AI summary The document presents financial data related to Marketing & Trading and other entities, including adjusted net income figures across various quarters and years. It includes tables with financial metrics such as earnings and adjustments, but key details are redacted.

2026-2027 GRA OP-12 Attachment 1 Page 301 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Three months ended September 30 Nine months September 30 2024 2023 2024 2023 Florida Electric $ 252 228 524 512 Canadian Electric 26 38 155 179 Ga...

AI summary The document presents financial data for various utility companies, including Florida Electric, Canadian Electric, and Gas Utilities & Infrastructure, for the three and nine months ended September 30, 2024 and 2023. It includes metrics such as adjusted net income, corporate costs, charges related to the pending sale of NMGC, and EPS figures.

9.3% Annualized 10-year TSR 4 Emera's Value Proposition

AI summary Emera presents its value proposition, highlighting a 9.3% annualized 10-year total shareholder return, indicating strong long-term performance and value creation for shareholders.

Effective & Collaborative Regulatory Environments - Highly rated regulatory environments - 96% of earnings from regulated investments 5 - Forecasted capital spend 2024-2026 in millions of CAD forecasted USD capital spend translated at $1.3...

AI summary The document highlights a highly rated regulatory environment with 96% of earnings from regulated investments. It includes forecasted capital spend from 2024-2026, adjusted EPS, and an announced agreement for the sale of NMGC. Adjusted net income excludes corporate net loss and is a non-GAAP measure.

Load Growth through Electrification - Florida has the second highest penetration of EVs in the US - In Nova Scotia, incentives for heat pump adoption are accelerating conversion of home heating from oil to electric 1 Based on 2023 adjusted...

AI summary The document discusses load growth through electrification, highlighting Nova Scotia's efforts to increase heat pump adoption and the impact of electric vehicle penetration in Florida. It also references financial data, including adjusted net income and earnings per share.

New Mexico Gas 2024 Rate Case - $30M USD increase in annual base rates effective October 1, 2024 - 9.375% ROE and 52% equity thickness, unchanged from current - Weather normalization mechanism formalized in the tariff, after five years as...

AI summary The New Mexico Gas 2024 Rate Case involves a $30M USD annual base rate increase effective October 1, 2024, with unchanged return on equity (9.375%) and equity thickness (52%). A weather normalization mechanism is now formalized in the tariff, following a five-year pilot period.

Peoples Gas 2023 Rate Case - $107M USD increase in annual base rates - $11M USD Cast Iron Bare Steel rider - 10.15% mid-point ROE up from 9.95% - Allowed equity thickness of 54.7% unchanged - Received 85% of the ask as filed

AI summary The Peoples Gas 2023 Rate Case proposes a $107M USD annual base rate increase and a $11M USD Cast Iron Bare Steel rider. The mid-point return on equity (ROE) is set at 10.15%, up from 9.95%, while the allowed equity thickness remains at 54.7%. The applicant received 85% of their requested rate increase.

Clear Financial Objectives Drive Reliable Outcomes - 1 Deliver 7%-8% Rate Base CAGR Through 2029 - 2 Translate Rate Base Growth Into 5%-7% Adjusted EPS1,2 Growth Through 2027 - 3 Deliver Sustainable Dividend Growth Of 1%-2% through 2027 -...

AI summary The document outlines financial objectives for Nova Scotia Power, including a target of 7%-8% annual rate base growth through 2029, 5%-7% adjusted EPS growth through 2027, and a target payout ratio of ~80% by 2027. It highlights a 4.8% 5-year annualized growth in adjusted EPS and 18 years of consecutive dividend increases.

Predictable Earnings Growth, Competitive Investment Return 4.8% 5-Year Annualized Growth in Adjusted EPS1,3 1 Adjusted EPS is a non-GAAP ratio. Please see appendix for reconciliation to the nearest GAAP measure 2 Includes impacts from the...

AI summary The document highlights a 4.8% annualized growth in adjusted EPS over five years, driven by the sale of assets such as Emera Maine, NEGG, and the LIL, as well as a gain from the TGH Award in 2020 and 2022. Adjusted EPS is a non-GAAP measure, and the growth excludes one-time items and contributions from sold assets.

Asset Sales - Divested minority equity interest in Labrador Island Link for ~$1.2B - Announced agreement for sale of NMGC for net proceeds of $750M USD to close in late 2025, pending regulatory approval 2 1 Forecasted capital spend 2024-20...

AI summary The document outlines asset sales by Nova Scotia Power, including the divestiture of a minority equity interest in Labrador Island Link for ~$1.2B and an agreement to sell NMGC for $750M USD, pending regulatory approval. The sale is expected to close in late 2025.

Portfolio $39 B total assets 1 6 High-quality regulated utilities ~2.6 M total customers 1

AI summary The document provides a snapshot of a portfolio with total assets of $39 billion and approximately 2.6 million customers across six high-quality regulated utilities. Visual representations of data are included but not described in detail.

Recent Regulatory Activity Filed in April 2024 for new rates effective January 1, 2025. Request included increased revenue requirements of $297M USD in 2025, $100M USD in 2026 and $72M USD in 2027; an 11.50% ROE midpoint – up from the curr...

AI summary Nova Scotia Power filed a rate request in April 2024 for new rates effective January 1, 2025, including increased revenue requirements and a higher return on equity midpoint. The hearing was completed in August 2024, with a decision expected on December 3rd, 2024.

FORWARD-LOOKING INFORMATION This presentation contains "forward-looking information" ("FLI") and statements which reflect the current view with respect to the Company's expectations regarding future growth, results of operations, performan...

AI summary This section outlines the company's forward-looking information (FLI), highlighting expectations and risks related to future operations, growth, and carbon emissions reduction goals. It emphasizes that FLI is based on current assumptions and may be affected by various risks and uncertainties, including regulatory, economic, and environmental factors.

PGS Effective January 1, 2024 $107M USD annual base rate increase & $11M cast iron bare steel rider 10.15% ROE and 54.7% equity thickness

AI summary The document outlines a base rate increase of $107M USD annually and a $11M cast iron bare steel rider, effective January 1, 2024, with a return on equity (ROE) of 10.15% and an equity thickness of 54.7%.

NMGC Effective October 1, 2024 $30M USD annual base rate increase 9.375% ROE and 52% equity thickness Formalized weather normalization mechanism

AI summary The NMGC document outlines an effective October 1, 2024 base rate increase of $30M USD, a 9.375% return on equity, and 52% equity thickness, along with the formalization of a weather normalization mechanism.

Reinvested Cash Flows Growing cash from operations

AI summary The document discusses growing cash from operations, indicating an increase in the company's operational cash flows.

2026-2027 GRA OP-12 Attachment 1 Page 414 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - Introduced 5%-7% adjusted EPS growth guidance through 2027 - Adjusted our Dividend Growth rate to a sustainable level of 1%-2% through 2027, acc...

AI summary The document introduces adjusted EPS growth guidance of 5%-7% through 2027 and sets a sustainable dividend growth rate of 1%-2% to achieve an 80% target payout ratio.

2026-2027 GRA OP-12 Attachment 1 Page 415 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - 1 7%-8% Rate Base CAGR Through 2029 - 2 5%-7% Adjusted EPS1,2 Growth Through 2027 - 3 Sustainable Dividend Growth Of 1%-2% - 4 Target Payout Rat...

AI summary The document outlines financial targets for the 2026-2027 period, including a 7%-8% annual growth rate for the rate base through 2029, 5%-7% adjusted EPS growth through 2027, and a target payout ratio of approximately 80% by the end of 2027. The text also mentions the attainment of credit metrics on a sustainable basis.

2026-2027 GRA OP-12 Attachment 1 Page 419 of 684 REDACTED (CONFIDENTIAL INFORMATION REMOVED) In millions 2023A 2024F 2025F 2026F 2027F 2028F 2029F 2023–2029 CAGR US OPERATIONS Tampa Electric 1.2 $10,200 $11,080 $12,030 $13,070 $14,130 $15,...

AI summary The document presents financial projections for US and Canadian operations from 2023 to 2029, including revenue and growth rates for various entities such as Tampa Electric, Peoples Gas, and Nova Scotia Power. The data includes assumptions about foreign exchange rates and capital structures, including deferred tax liabilities.

FORWARD-LOOKING INFORMATION This presentation contains "forward-looking information" ("FLI") and statements which reflect the current view with respect to the Company's expectations regarding future growth, results of operations, performan...

AI summary The document discusses forward-looking information (FLI) provided by the company, emphasizing that FLI reflects management's current expectations and is subject to various risks and uncertainties. It outlines factors that could cause actual results to differ from projections, such as regulatory, economic, and operational risks.

NON-GAAP FINANCIAL MEASURES AND RATIOS Emera uses financial measures and ratios that do not have standardized meaning under USGAAP and may not be comparable to similar measures presented by other entities. Emera calculates the non-GAAP mea...

AI summary Emera uses non-GAAP financial measures and ratios to better reflect ongoing business operations, as these measures are adjusted for specific items. These metrics are detailed in the 'Non-GAAP Financial Measures and Ratios' section of Emera's Q4 2023 MD&A, available on SEDAR+.

Tampa Electric Peoples Gas Nova Scotia Power Date filed FSPC Decision December 2024 FSPC Decision November 2023 Settlement approved February 2023 Test Year Forward test year Forward test year Forward test year ROE 9.5-11.5% 9.15-11.15% 8.7...

AI summary The document compares regulatory decisions and key financial metrics for Tampa Electric, Peoples Gas, and Nova Scotia Power, including return on equity (ROE) ranges, equity thickness percentages, and effective dates for new rates or settlements. These metrics are relevant to rate-setting and financial planning in the utility sector.

Predictable Earnings Growth, Competitive Investment Return Emera offers a compelling investment return profile driven by consistent, competitive earnings, supporting a predictable, growing dividend. 1 Adjusted EPS is a non-GAAP ratio 2 5-...

AI summary Emera presents a strong investment case with consistent earnings and predictable dividend growth, supported by figures illustrating adjusted EPS and CAGR over five years, excluding one-time items and contributions from sold assets.

Recent Regulatory Activity Filed in April 2024 for new rates effective January 1, 2025. The FPSC reached a final decision on December 3rd, 2024 approving new revenues of $281M ($185M in 2025, $87M in 2026 and $9M USD in 2027). This reflect...

AI summary In April 2024, new rates were filed for implementation on January 1, 2025. The FPSC approved new revenues of $281M, including $185M in 2025, $87M in 2026, and $9M USD in 2027. The ROE midpoint increased to 10.5%, and equity thickness remained at 54%. Tampa Electric's operating expenses and capital expenditures were approved without a stay out requirement.

Regulatory Arrangements In November 2022, NSP filed a proposed settlement for the GRA, reached between NSP and key customer representatives. The settlement was substantially approved on February 2, 2023, with rates effective the date of th...

AI summary In November 2022, NSP filed a proposed settlement for the GRA, reached between NSP and key customer representatives. The settlement was substantially approved on February 2, 2023, with rates effective the date of the approval.

Regulatory Arrangements In November 2023, the FPSC voted to approve the FPSC staff recommendation which supported an $107 million USD increase in annual base rates, as well as $11 million USD from the cast iron and bare steel replacement r...

AI summary In November 2023, the FPSC approved a recommendation for an increase in annual base rates by $107 million USD and an additional $11 million USD from the cast iron and bare steel replacement rider, reflecting a 10.15% midpoint ROE with an allowed equity capital structure of 54.7%.

Regulatory Arrangements On August 1, 2024, GBPC filed a rate plan proposal, to be effective effective on January 1, 2025, for a three-year period, based on an 8.5- 8.7% allowable regulated return on rate base and a target regulatory ROE of...

AI summary GBPC filed a rate plan proposal effective January 1, 2025, based on an 8.5-8.7% allowable return on rate base and a 12.87% target ROE. BLPC's motion to review was dismissed by the FTC but successfully appealed to the High Court of Barbados.

1 EMERA ENERGY SERVICES - $15-30 million USD annual adjusted earnings ($45-70 million USD of margin). - Earnings dependent on market conditions. - Low-risk operations with minimal commodity exposure.

AI summary Emera Energy Services reports annual adjusted earnings of $15-30 million USD, with earnings influenced by market conditions. The company operates with low risk and minimal commodity exposure.

Average Rate Base Forecast In millions 2023A 2024F 2025F 2026F 2027F 2028F 2029F 2023–2029 CAGR US OPERATIONS Tampa Electric 1.2 $10,200 $11,080 $12,030 $13,070 $14,130 $15,260 $16,490 8.3% Peoples Gas1 $2,190 $2,460 $2,720 $2,930 $3,180 $...

AI summary The document presents a forecast of the average rate base for US and Canadian operations from 2023 to 2029. It includes financial figures for various entities like Tampa Electric, Peoples Gas, and Nova Scotia Power, showing projected growth rates and currency conversion assumptions.

Foreign Exchange Exposure As of September 30, 2024 Approximate % of USD Earnings Hedged Rate 2024 62% $1.34 2025 58% $1.36 2026 13% $1.35 Debt Detail As of September 30, 2024 TOTAL DEB T (SHORT TERM + LONG TERM ) Notional amount (in millio...

AI summary The document outlines foreign exchange exposure details, including the percentage of USD earnings hedged and exchange rates for 2024 to 2026. It also provides a breakdown of debt details, including notional amounts and percentages of total debt for variable and fixed rates at HoldCos and OpCos as of September 30, 2024.

Strong Financial and Operational Performance in 2024 Emera's regulated utilities continue to be the fundamental growth driver. Contributions from regulated utilities increased 24% in Q4 2024 compared to Q4 2023. 2 Based on normalized credi...

AI summary Emera's regulated utilities showed strong financial growth in Q4 2024, with a 24% increase in contributions compared to Q4 2023. Strategic initiatives were successfully executed, including a constructive outcome at Tampa Electric and the completion of an asset sale program. Over $3.2 billion in capital investment was deployed.

Regulated Utilities Drive Q4 2024 Adjusted EPS 1 Growth Note: Segment impacts exclude the impact of changes in foreign exchange rates 1Adjusted EPS is a non-GAAP ratio; 2 The impact of the timing difference in the valuation of long-term in...

AI summary The document discusses Q4 2024 adjusted EPS growth driven by regulated utilities, noting non-GAAP adjustments and impacts from long-term incentive expense valuations and foreign exchange hedges on corporate contributions.

Record Performance at Gas Utilities Offset Asset Sale Impact Note: Segment impacts exclude the impact of changes in foreign exchange rates 1 Adjusted EPS is a non-GAAP ratio; 2 The impact of foreign exchange hedges was ($0.03) in both 2023...

AI summary The document discusses the performance of gas utilities, highlighting that strong results offset the impact of an asset sale. Adjusted EPS is noted as a non-GAAP ratio, with specific adjustments for foreign exchange hedges and long-term incentive expenses in both 2023 and 2024.

In 2025 on a hedge adjusted basis each change $0.05 change in FX is approximate $0.05 on adjusted EPS As of January 31, 2025 Approximate % of USD Earnings Hedged Rate 2025 62% $1.36 2026 27% $1.38 2027 13% $1.38 Debt Detail As of December...

AI summary The text discusses FX exposure and earnings hedging for 2025, indicating that a $0.05 change in FX affects adjusted EPS by approximately $0.05. It also provides a table showing the percentage of USD earnings hedged and the rate for 2025, 2026, and 2027. Another table outlines debt details, including notional amounts and percentages of total debt for variable and fixed rates at HoldCos and OpCos.

Non-GAAP Reconciliation (Earnings) Three months ended December 31 Year ended December 31 2024 2023 2024 2023 Florida Electric $ 120 115 $ 644 627 Canadian Electric 77 68 232 247 Gas Utilities & Infrastructure 87 59 267 214 Other Electric U...

AI summary This table presents a non-GAAP reconciliation of earnings for various utility segments, including Florida Electric, Canadian Electric, Gas Utilities & Infrastructure, and others. It highlights adjusted net income before and after corporate costs, as well as various adjustments such as gains on sales, wind-up charges, and MTM gains or losses.

Non-GAAP Reconciliation (Adjusted EPS) Three months ended December 31 Year ended December 31 2024 2023 2024 2023 Weighted average shares of common stock outstanding 294.1 277.7 289.1 273.6 Adjusted EPS – basic $ 0.84 0.63 $ 2.94 2.96 Gain...

AI summary The document presents a Non-GAAP reconciliation for Adjusted EPS, including items such as gains on the sale of LIL, financing structure wind-up, and charges related to wind-down costs and asset impairments. It compares adjusted and reported EPS for the three months and year ended December 31, 2024 and 2023.

Why Invest in Emera Emera is at the forefront of a transformative era in energy with robust opportunities to invest on behalf of customers across the portfolio. Our proven strategy and operational excellence ensure we can capitalize on thi...

AI summary Emera highlights its strong investment opportunities in energy, driven by a robust 5-year capital plan and constructive regulatory environments. The company emphasizes its operational excellence and focus on Florida's regulated utilities, with a goal of achieving 7%-8% rate base growth.

Premium Portfolio of Regulated Utilities Focused in Florida 70% Adjusted net Income 1 from our Florida Utilities 3 1 Based on 2024 adjusted net income, excluding corporate costs of $360M. Adjusted net income is a non-GAAP measure. Please r...

AI summary The document highlights a 70% adjusted net income from Florida Utilities, excluding corporate costs of $360M, and notes the breakdown of the Gas Utilities and Infrastructure segment due to the announced sale of NMGC. The Florida segment includes Tampa Electric, Peoples Gas, and Seacoast, while Atlantic Canada includes Nova Scotia Power and other entities.

Peoples Gas 1 General rate application expected March 31, 2025 Anticipate requesting revenue requirements of $90M - $110M USD in 2026 and $25M - $40M USD in 2027 Anticipate requesting 11.1% ROE midpoint New rates expected January 1, 2026

AI summary Peoples Gas anticipates submitting a general rate application by March 31, 2025, requesting revenue requirements of $90M - $110M USD in 2026 and $25M - $40M USD in 2027. The company expects a 11.1% ROE midpoint and new rates to take effect on January 1, 2026.

Delivering a Growing and Sustainable Dividend 18 years of consecutive dividend increases 5.4% dividend yield 1 1%-2% Target annual dividend growth

AI summary The document highlights a company's 18 years of consecutive dividend increases, a 5.4% dividend yield, and a target annual dividend growth rate of 1%-2%. Visuals and statistics are used to emphasize the sustainability and growth of the dividend.

Reinvested Cash Flows Growing cash from operations

AI summary The chunk discusses growing cash from operations, indicating an increase in the company's operational cash flow, which may be due to improved efficiency or increased revenue.

In 2025 on a hedge adjusted basis each change $0.01 change in FX is approximate $0.01 on adjusted EPS As of January 31, 2025 Approximate % of USD Earnings Hedged Rate 2025 62% $1.36 2026 27% $1.38 2027 13% $1.38 Debt Detail As of December...

AI summary The text outlines FX hedging percentages and rates for 2025, 2026, and 2027, as well as debt details as of December 31, 2024, including notional amounts and percentages of total debt for variable and fixed rate debt at HoldCos and OpCos.

RATE BASE BY REGULATORY JURISDICTION 1 ~70% of rate base is regulated by the FPSC 2

AI summary The document discusses the distribution of rate base regulation, indicating that approximately 70% of the rate base is regulated by the Financial and Public Services Commission (FPSC).

Peoples Gas 1 General rate application filed March 31, 2025 Requesting a total revenue increase of approximately $130M USD 2 Requesting an increase in ROE midpoint to 11.1% from 10.15% and no change to equity thickness of 54.7% 84% of the...

AI summary Peoples Gas has filed a general rate application requesting a total revenue increase of approximately $130M USD. They are seeking to raise the ROE midpoint to 11.1% from 10.15%, with no change to the equity thickness of 54.7%. In the 2023 rate case, 84% of the requested revenue increase was granted, and new rates are expected to take effect on January 1, 2026.

General Rate Application Rate application expected this spring Application anticipated to include 2026 and 2027 and include total incremental base revenues of $240M 1 Average annual rate increase expected to be ~3.7% Application expected t...

AI summary A general rate application is anticipated this spring, covering 2026 and 2027 with total incremental base revenues of $240M. The average annual rate increase is expected to be ~3.7%, incorporating $724M of thermal asset securitization. The application will request a 9.0% ROE midpoint and 40% equity thickness, with new rates effective January 1, 2026.

11% variable rate debt across the portfolio 1 Actions in 2024 to sell assets and raise equity significantly lowered exposure to variable rate debt Utilities have largely termed out their variable rate exposure and either have, or will have...

AI summary The document discusses the reduction in variable rate debt exposure by utilities through asset sales and equity raising in 2024. It notes that utilities have largely termed out their variable rate exposure and will incorporate interest expenses into rates by 2026. As of March 31, 2025, the exposure is at 11%.

2025 → 2026 2026 → 2027 $80M CAD of new base revenues at NSPI , offset by rate base investment $27M USD of new base revenues at PGS , partially offset by rate base investment Regulatory lag at TEC partially offset by expected data center r...

AI summary The document discusses projected new base revenues for NSPI and PGS, along with regulatory lag at TEC and expected data center revenue. These figures are offset by rate base investments.

FX Normalized Credit Metric Reconciliation FX NORMALIZED FFO / DEBT RECONCILIATION 2020 2021 2022 2023 Q1 2024 LTM Q2 2024 LTM Q3 2024 LTM Q4 2024 LTM Q1 2025 LTM Normalized FFO 2,274 2,313 2,657 2,803 2,802 2,841 2,932 3,026 3,258 Debt 16...

AI summary The document presents a reconciliation of FX normalized FFO (Funds From Operations) and debt metrics across multiple years, showing trends in normalized FFO, debt, and the FX normalization adjustment. It also includes FX rates and balance sheet rates for the same periods.

RATE BASE BY REGULATORY JURISDICTION 1 ~70% of rate base is regulated by the FPSC 2

AI summary The document discusses the distribution of the rate base across different regulatory jurisdictions, highlighting that approximately 70% of the rate base is regulated by the FPSC. The text includes visual aids and references to regulatory bodies.

CFO PRE-WC / DEBT TRANSITION $87M USD of new base revenues at TEC , partially offset by rate base investment $80M CAD of new base revenues at NSPI and a further $200M of thermal asset securitization $104M USD of new base revenues at PGS ,...

AI summary The document outlines new base revenues for various entities, including $87M USD at TEC, $80M CAD at NSPI, and $104M USD at PGS, with some offsets from rate base investments and thermal asset securitization.

2025 → 2026 2026 → 2027 $80M CAD of new base revenues at NSPI , partially offset by rate base investment $27M USD of new base revenues at PGS offsets regulatory lag Regulatory lag at TEC partially offset by expected new data center revenue

AI summary The document outlines new base revenues for NSPI and PGS, as well as expected revenue from new data centers at TEC, partially offsetting regulatory lags in these entities.

FX Normalized Credit Metric Reconciliation FX NORMALIZED CFO PRE-WC / DEBT RECONCILIATION 2020 2021 2022 2023 Q1 2024 LTM Q2 2024 LTM Q3 2024 LTM Q4 2024 LTM Q1 2025 LTM Normalized CFO pre-WC 1,698 1,559 1,970 1,940 1,916 1,936 1,988 2,081...

AI summary The document presents a reconciliation of FX normalized cash flow from operations (CFO) pre-working capital (WC) to debt across various years and quarters, including adjustments for FX normalization and comparisons of normalized CFO to debt ratios. The table also includes FX rate data and balance sheet rates for different periods.

RATE BASE BY REGULATORY JURISDICTION 1 ~70% of rate base is regulated by the FPSC 2

AI summary The document highlights that approximately 70% of the rate base is regulated by the FPSC. This information is presented in the context of regulatory jurisdiction over the rate base, with visual aids and footnotes providing additional context.

Peoples Gas 1 General rate application filed March 31, 2025 Requesting a total revenue increase of approximately $130M USD 2 Requesting an increase in ROE midpoint to 11.1% from 10.15% and no change to equity thickness of 54.7% 84% of the...

AI summary Peoples Gas has filed a general rate application requesting a $130M USD revenue increase and a higher return on equity midpoint. 84% of the requested increase was granted in the 2023 rate case, with new rates expected to take effect in January 2026.

General Rate Application Rate application expected this spring Application anticipated to include 2026 and 2027 and include total incremental base revenues of $240M 1 Average annual rate increase expected to be ~3.7% Application expected t...

AI summary The General Rate Application is expected this spring, covering 2026 and 2027, with a total incremental base revenue of $240M and an average annual rate increase of ~3.7%. The application will include $724M in thermal asset securitization, request a 9.0% ROE midpoint and 40% equity thickness, with new rates effective January 1, 2026.

Environmental, Social and Governance (ESG) commitments are core to our strategy and shape our culture of doing the right thing for our customers, investors, communities and each other. Our proven strategy has been driving our growth for ne...

AI summary The document emphasizes the importance of Environmental, Social, and Governance (ESG) commitments in shaping the company's strategy and culture. It highlights a long-term approach to growth that balances cleaner energy initiatives with reliability investments and customer cost considerations, aligning with industry trends like decarbonization and digitalization.

Tampa Electric Peoples Gas Nova Scotia Power Key Regulatory Features • Forward test year • Storm reserve • Storm protection plan recovery mechanism • Forward test year • Forward test year • Storm cost recovery mechanism ROE & Equity 9.5-11...

AI summary The document compares regulatory features, ROE and equity metrics, and key dates for Tampa Electric, Peoples Gas, and Nova Scotia Power. It highlights differences in return on equity, equity thickness, and regulatory timelines, including decisions and rate-effective dates.

Peoples Gas General rate application filed March 31, 2025 Requested revenue requirements of $104M USD in 2026 and $27M USD in 2027 Requested 11.1% ROE midpoint (from current 10.15%) Hearings scheduled for September 9-12, 2025 with final de...

AI summary Peoples Gas has filed a general rate application requesting revenue requirements of $104M USD in 2026 and $27M USD in 2027, along with an increase in the requested return on equity midpoint from 10.15% to 11.1%. Hearings are scheduled for September 2025, with a final decision expected in Q4 2025 and new rates to take effect on January 1, 2026.

Rate Case $281M USD total revenue increase 1 Increase in ROE midpoint to 10.5% from 10.2% and no change to equity thickness 99% of operating expenses and capital expenditures approved No stay out period required

AI summary The rate case involves a $281M USD total revenue increase, an increase in the ROE midpoint to 10.5%, approval of 99% of operating expenses and capital expenditures, and no stay out period required.

Regulatory Arrangements On August 1, 2024, GBPC filed a 3-year rate proposal, to be effective effective on January 1, 2025, based on an 8.5-8.7% allowable regulated return on rate base and a target regulatory ROE of 12.87%. A decision is e...

AI summary GBPC filed a 3-year rate proposal effective January 1, 2025, based on an 8.5-8.7% allowable return on rate base and a target ROE of 12.87%. BLPC's motion to review was dismissed by the FTC but successfully appealed to the High Court of Barbados, with a review scheduled for 2025.

1 EMERA ENERGY SERVICES - $15-30 million USD annual adjusted earnings ($45-70 million USD of margin) 1 - Earnings dependent on market conditions. - Low-risk operations with minimal commodity exposure.

AI summary Emera Energy Services is projected to generate annual adjusted earnings of $15-30 million USD, with a margin of $45-70 million USD. Earnings are influenced by market conditions, and the company operates with low risk and minimal commodity exposure.

Average Rate Base Forecast In millions 2023A 2024A 2024A Adjusted FX 5 2025F 2026F 2027F 2028F 2029F 2023–2029 CAGR US OPERATIONS Tampa Electric 1.2 $10,200 $11,120 $11,120 $12,030 $13,070 $14,130 $15,260 $16,490 8.3% Peoples Gas 1 $2,190...

AI summary The document presents an average rate base forecast for various operations from 2023 to 2029, showing projected figures in millions of dollars for US and CAD operations, including the impact of FX rate assumptions and the overall growth rate of 7.1%.

Emera Energy Quarterly Adjusted Earnings Contribution Millions $CAD Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Marketing & Trading $ (24) (4) 19 45 (24) (7) 16 69 Maritimes Canada 3 – (1) – (1) – (3) 1 Bear Swamp 1 7 7 1 2 2 1 (2) 1 T...

AI summary The document presents quarterly adjusted earnings contribution data for Emera Energy, showing fluctuations in income across various segments such as Marketing & Trading and Maritimes Canada from Q2/23 to Q1/25. It also includes historical data from 2017 to 2024, highlighting trends in adjusted net income.

Non-GAAP Reconciliation (Earnings) For the Year ended December 31 2024 2023 Florida Electric $ 644 627 Canadian Electric 232 247 Gas Utilities & Infrastructure 267 214 Other Electric Utilities 48 35 Other, excluding corporate costs 18 42 A...

AI summary This document provides a non-GAAP reconciliation of earnings for the years ended December 31, 2024, and 2023. It includes various revenue streams, adjusted net income before corporate costs, corporate costs, and adjustments such as gains and losses from asset sales and wind-down costs.

Non-GAAP Reconciliation (Adjusted EPS) For the Year ended December 31 2024 2023 Weighted average shares of common stock outstanding 289.1 273.6 Adjusted EPS – basic $ 2.94 2.96 Gain on sale of LIL, after-tax 0.45 - Financing structure wind...

AI summary The document presents a non-GAAP reconciliation of adjusted EPS for the years 2024 and 2023, highlighting items such as gains on the sale of LIL, financing structure wind-up, and charges related to wind-down costs and asset impairments. Adjusted EPS is compared to reported EPS, showing significant differences due to these adjustments.

FORWARD- LOOKING INFORMATION This presentation contains "forward-looking information" ("FLI") and statements which reflect the current view with respect to the Company's expectations regarding future growth, results of operations, performa...

AI summary The document outlines forward-looking information (FLI) related to the Company's expectations, including the pending sale of NMGC, cybersecurity incident impacts, and various risks and uncertainties that could affect future operations and financial performance. The FLI is subject to regulatory, economic, and operational risks.

NON-GAAP FINANCIAL MEASURES AND RATIOS Emera uses financial measures and ratios that do not have standardized meaning under USGAAP and may not be comparable to similar measures presented by other entities. Emera calculates the non-GAAP mea...

AI summary Emera uses non-GAAP financial measures and ratios to better reflect ongoing business operations. These measures are adjusted from GAAP standards and are explained in the 'Non-GAAP Financial Measures and Ratios' section of Emera's Q4 2024 MD&A, available on SEDAR+.

OTHER Rate base is a financial measure specific to rate-regulated utilities that is not intended to represent any financial measure as defined by GAAP. The measure is required by the regulatory authorities in the jurisdictions where Emera'...

AI summary Rate base is a financial measure used by rate-regulated utilities, distinct from GAAP-defined measures. It is required by regulatory authorities in jurisdictions where Emera's subsidiaries or equity investments operate and may not be comparable to similar measures used by other companies.

Who is Emera Emera is a leading North American provider of energy services headquartered in Halifax, Nova Scotia. Emera delivers safe, clean, and reliable energy to customers through investments in regulated electric and natural gas utilit...

AI summary Emera is a North American energy services provider based in Halifax, Nova Scotia. It operates regulated electric and natural gas utilities, with 2.6 million customers and $43 billion in total assets. Emera has a 5-year capital plan focused largely on Florida and targets growth in rate base, adjusted EPS, and dividends.

Constructive Regulatory Environments Emera's core assets are situated in constructive regulatory environments, where we work collaboratively with regulatory bodies to ensure long-term value creation for both our customers and the utility.

AI summary Emera operates in constructive regulatory environments, emphasizing collaboration with regulatory bodies to ensure long-term value creation for customers and the utility.

Tampa Electric Peoples Gas Nova Scotia Power KEY REGULATORY FEATURES • Forward test year Storm reserve • • Storm protection plan recovery mechanism • Forward test year • Forward test year Storm cost recovery mechanism • ROE & EQUITY 9.5-11...

AI summary The document provides a comparative overview of key regulatory features, return on equity (ROE) and equity thickness for Tampa Electric, Peoples Gas, and Nova Scotia Power, including dates of regulatory decisions and settlements. It highlights differences in ROE ranges, regulatory mechanisms such as storm cost recovery, and settlement agreements.

Financial Highlights 5-7% Target adj. EPS1 CAGR through 20272 7-8% Forecasted rate base growth through 2029 1-2% Annual dividend growth target - 1. Adjusted EPS is a non-GAAP ratio - 2. Uses 2024 as base year

AI summary The document outlines financial targets and forecasts, including a 5-7% adjusted EPS CAGR through 2027, 7-8% rate base growth through 2029, and a 1-2% annual dividend growth target. Adjusted EPS is noted as a non-GAAP ratio, with 2024 as the base year.

Clear Financial Objectives Drive Reliable Outcomes Deliver 7-8% Rate Base CAGR Through 2029 Translate Rate Base Growth Into 5-7% Annual Adjusted EPS 1 Growth Through 2027 2 Deliver Sustainable Annual Dividend Growth of 1-2% Achieve Target...

AI summary The document outlines financial objectives including a 7-8% annual rate base growth through 2029, translating into 5-7% annual adjusted EPS growth through 2027, sustainable dividend growth of 1-2%, and achieving an 80% payout ratio by 2027, while maintaining sustainable credit metrics.

Regulatory Arrangements In November 2022, NSP filed a proposed settlement for the GRA, reached between NSP and key customer representatives. The settlement was substantially approved on February 2, 2023, with rates effective the date of th...

AI summary In November 2022, NSP filed a proposed settlement for the GRA with key customer representatives, which was substantially approved on February 2, 2023, with rates effective from the approval date.

Regulatory Arrangements PGS filed a general rate application on March 31, 2025. In August 2026, PGS filed settlement agreement reflecting: - Revenue increase of $97M USD through 2028 (inclusive of CIBS rider) - $67M USD in 2026 - $25M USD...

AI summary PGS filed a general rate application on March 31, 2025, and a settlement agreement in August 2026, proposing a revenue increase of $97M USD through 2028, including a CIBS rider, and increasing ROE to 10.3%. The final order is expected in Q4 2025 with new rates effective January 1, 2026.

Regulatory Arrangements On August 1, 2024, GBPC filed a 3-year rate proposal, to be effective effective on January 1, 2025, based on an 8.5-8.7% allowable regulated return on rate base and a target regulatory ROE of 12.87%. A decision is e...

AI summary GBPC filed a 3-year rate proposal with an 8.5-8.7% allowable return on rate base and a target ROE of 12.87%, effective January 1, 2025. BLPC's motion to review was dismissed by the FTC but successfully appealed to the High Court of Barbados, with a review scheduled for 2025.

Emera Energy Services - $15-30 million USD annual adjusted earnings ($45-70 million USD of margin).1 - Earnings dependent on market conditions. - Low-risk operations with minimal commodity exposure.

AI summary Emera Energy Services reports annual adjusted earnings of $15-30 million USD, with margins of $45-70 million USD. Earnings are influenced by market conditions, and the company operates with low risk and minimal commodity exposure.

Seacoast - Regulated by the FPSC - Intrastate natural gas transmission company offering services in Florida Note: All data as of December 31, 2024 1. Emera Energy Services annual adjusted earnings guidance increased to $35-$45M USD for 202...

AI summary Seacoast is an intrastate natural gas transmission company regulated by the FPSC and operating in Florida. Emera Energy Services increased its 2025 annual adjusted earnings guidance to $35–$45M USD due to strong market conditions and Q1 2025 performance.

In 2025 on a hedge adjusted basis each change $0.02 change in FX is approximate $0.01 on adjusted EPS As of June 30, 2025 Approximate % of USD Earnings Hedged Rate 2025 64% $1.36 2026 27% $1.38 2027 13% $1.38 Debt Detail As of June 30, 202...

AI summary The text discusses the impact of foreign exchange (FX) changes on earnings per share (EPS) in 2025, noting that a $0.02 change in FX corresponds to approximately $0.01 change in adjusted EPS. It also provides a table showing the percentage of USD earnings hedged and the exchange rate for 2025, 2026, and 2027, along with a table outlining the debt detail as of June 30, 2025.

Highly rated regulatory environments 98% of adjusted net income,1 excluding Corporate costs, derived from our regulated utilities

AI summary The text highlights that 98% of adjusted net income, excluding corporate costs, is derived from regulated utilities, indicating a highly rated regulatory environment.

RELIABLE EARNINGS AND DIVIDEND GROWTH 5-7% average adjusted EPS2 growth target through 20273 18 years of consecutive dividend growth 1-2% annual dividend growth target 1 Based on 2024 adjusted net income, attributable to common shareholder...

AI summary The document outlines Emera's financial targets, including an average adjusted EPS growth of 5-7% through 2027, based on 2024 adjusted net income. It also highlights 18 years of consecutive dividend growth and an annual dividend growth target of 1-2%. These metrics exclude corporate costs and are presented as non-GAAP measures.

2024 Highlights Our commitment to customers remained front and centre in our operating companies throughout the year. Tampa Electric carried out its largest ever storm response after backto-back hurricanes. Following Hurricane Milton, more...

AI summary In 2024, Tampa Electric led a major storm response following hurricanes, restoring service to hundreds of thousands of customers with no safety incidents. Regulatory updates included new rates at Peoples Gas and New Mexico Gas, and the Florida Public Service Commission approved Tampa Electric's capital plan with a midpoint return on equity of 10.5%.

ership experience in public and private companies, as well as in regulated environments. Karen has been a strong addition to the Board and will be instrumental in guiding Emera's next phase of growth. We welcomed Carla Tully to the Board....

AI summary The document highlights the addition of Karen and Carla Tully to the Board, along with financial results for 2024, including adjusted net income of $849 million and dividend growth. It also mentions strategic moves such as the sale of equity in the Labrador-Island Link and New Mexico Gas.

Solicitation of Proxies This Circular is being provided in connection with the solicitation of proxies by the Board of Directors and management of Emera for use at the Meeting. All shareholders have received a proxy or voting instruction f...

AI summary Emera is soliciting proxies for a shareholder meeting, with TMX Investor Solutions Inc. assisting in the process. The cost of the solicitation is covered by Emera and is expected to be under $50,000. Shareholders are encouraged to vote, with details provided on page 12.

2024 Board and Committee membership Attendance Total Board (1) 9 of 9 100% Total Attendance 9 of 9 100% DSUs awarded and held Total 2024 change in value of all DSUs held ($) 2024 share-based awards ($) 8,741,664 558,048 1,229,707 2022 2023...

AI summary The document outlines the 2024 Board and Committee membership attendance, showing 100% attendance. It also provides details on DSUs (Deferred Share Units) awarded and held, including changes in value and share-based awards. Mr. Balfour, as President and CEO, is subject to Executive Share Ownership Requirements, owning shares and DSUs valued at 12.6x his base salary.

Total compensation Total ($) All other compensation ($) Fees earned in 2024 ($) 245,238 Nil 245,238 DSUs awarded and held Market value of total DSU holdings ($) 2024 share-based awards ($) 266,245 N/A 245,238 2022 2023 2024 Common shares N...

AI summary The document provides details on total compensation, including fees earned and DSUs awarded and held. It outlines the value of shares and DSUs owned by Mr. Porter, noting that he meets the Emera Director Share Ownership Guideline by owning shares and DSUs valued at over 3.8 times the Annual Director's retainer.

2024 Board and Committee membership(1) Attendance Total • Board 9 of 9 100% • Nominating and Corporate Governance Committee (Chair) 3 of 3 100% • Management Resources and Compensation Committee 5 of 5 100% • Risk and Sustainability Committ...

AI summary The document outlines the 2024 attendance rates for various boards and committees, total compensation for the year, DSUs awarded and held, and the value of shares and DSUs owned by Ms. Sheriff. It also notes her status under the share ownership guideline.

ROLE OF THE SRC The SRC assists the Board in discharging its accountabilities for Company oversight in the specific areas related to (i) preservation of employee and public safety, (ii) identification and mitigation of material risks to th...

AI summary The SRC assists the Board in overseeing the Company by focusing on employee and public safety, risk mitigation, and environmental sustainability. It reviews management's approach to these areas.

2024 Compensation Rates for Directors Listed below are the annual compensation rates for non-executive Directors in 2024. In 2024, the annual retainer for each Director was $275,000, of which $160,000 was payable in DSUs and $115,000 in ca...

AI summary The document outlines the 2024 compensation rates for non-executive Directors of the company, including retainer amounts, payment structure in DSUs and cash, and the all-inclusive fee for the Board Chair. Directors may receive cash compensation in DSUs, and no pension or option-based awards are offered.

Total Director Compensation in 2024 Compensation is made up of applicable retainers and the annual travel allowance of $10,000. The table below details the total compensation paid to Directors in 2024. Mr. Balfour is not included in the ta...

AI summary The document outlines the total director compensation in 2024, which includes retainers and an annual travel allowance of $10,000. Mr. Balfour is excluded from the table as his compensation is detailed in the Statement of Executive Compensation and he does not receive additional compensation for his board roles.

TOTAL DIRECTOR COMPENSATION IN 2024 _ Board Retainer DSUs held Director Cash fees earned ($) (1) Share-Based Awards ($) (2) All other compensation ($) Total ($) Portion of cash fees taken in DSUs (%) Total 2024 change in value of all DSUs...

AI summary The document provides a detailed breakdown of total director compensation in 2024, including cash fees, share-based awards, and other compensation, along with the value of DSUs held and changes in their value.

Director Nominee Total common shares Total DSUs Value at December 31, 2024(1) Multiple of 2024 annual retainer Share Ownership Requirement(2) Year to meet share ownership requirement Scott C. Balfour (3) 115,454 162,696 14,944,981 – – – Ja...

AI summary The table lists director nominees with their share ownership, deferred share units (DSUs), and related financial details. It includes information on the value of shares and DSUs as of December 31, 2024, and the multiple of the 2024 annual retainer. Some directors have met their share ownership requirements, while others have not yet achieved them.

Directors' DSU Plan Under the Directors' Deferred Share Unit and Share Purchase Plan (the "Directors' DSU Plan"), non-employee Directors may elect to receive all or any portion of their cash compensation in DSUs in lieu of that cash compen...

AI summary The Directors' Deferred Share Unit (DSU) Plan allows non-employee Directors to receive compensation in the form of DSUs or company shares. The plan includes provisions for converting fees into DSUs, dividend reinvestment, and the option to receive market-purchased shares. Tax implications and share management are also outlined.

3. Executive Compensation Emera's approach to executive compensation is supported by strong governance and robust risk management, and designed to achieve results, drive growth and deliver value to customers and shareholders. Recruiting an...

AI summary Emera's executive compensation strategy is underpinned by strong governance and risk management, aiming to achieve results, drive growth, and deliver value to customers and shareholders. The strategy emphasizes the importance of recruiting and retaining top talent for the company's success.

2024 Compensation Our compensation philosophy is guided by the median level of compensation paid by our peer group, which is made up of companies of a similar size and scope as Emera. In addition to market competitive data, the Committee c...

AI summary The 2024 Compensation section outlines Emera's compensation philosophy, which is based on peer group benchmarking and considers performance, experience, and responsibilities. The Management Resources and Compensation Committee reviewed compensation analyses and concluded that the company's compensation programs are competitive and aligned with its strategy. The Board approved a 122.4% STIP payout for NEOs and described the 2024 LTIP, which includes PSUs, RSUs, and stock options, with a performance factor of 51.4% due to underperformance relative to targets.

Shareholder Feedback At our 2024 Annual Meeting, we held our annual "Say on Pay" advisory vote allowing shareholders to indicate whether they agree with Emera's compensation practices and policies. We are pleased that shareholders voted 95...

AI summary The document discusses the 2024 Annual Meeting's 'Say on Pay' advisory vote, where 95.12% of shareholders approved Emera's executive compensation practices. The company encourages shareholder engagement and constructive dialogue on compensation and governance matters, and provides contact details for further communication.

Compensation Principles Emera's approach to executive compensation is designed to achieve results, drive growth and deliver value to customers and shareholders. We are committed to the following key principles: Align executives' financial...

AI summary Emera's executive compensation strategy focuses on aligning executive interests with strategic goals, achieving sustained shareholder value, competitive pay with North American peers, and balancing short- and long-term incentives while managing risk through good governance.

Emera's compensation program includes the following components: Annual Base Salary (Page 82) Salaries are benchmarked against companies of similar size and scope as Emera or the respective affiliate and are set to reflect the degree of spe...

AI summary Emera's compensation program includes annual base salary, short-term and long-term incentives, pension plans, and other benefits such as share purchase plans and perquisites. The program aligns executive performance with corporate strategy and shareholder value.

MRCC Governance The MRCC is responsible for reviewing the alignment of Emera's compensation programs, including incentive pay programs, with Emera's strategic plans, performance and risk management principles. The Committee annually review...

AI summary The MRCC is responsible for reviewing and aligning Emera's compensation programs with strategic plans and risk management principles. It oversees the administration of incentive plans for senior management and reports on performance and progress toward objectives.

Compensation Advisors The MRCC retains the services of independent compensation advisors to assist in discharging its duties, including determining the compensation payable to the President and CEO and other senior officers. Since 2007, th...

AI summary The Management Resources and Compensation Committee (MRCC) engages Hugessen as an independent compensation advisor to assist in determining compensation for senior executives, including the President and CEO. Hugessen provides analysis on compensation competitiveness and reviews the Company's Statement of Executive Compensation.

The table below summarizes the fees paid to all external compensation advisors in 2023 and 2024. 2024 2023 Advisor Executive Compensation All Other Fees ($) Executive Compensation All Other Fees ($) Related Fees ($) Related Fees ($) Hugess...

AI summary The table summarizes fees paid to external compensation advisors in 2023 and 2024, with Hugessen Consulting Inc. seeing an increase due to a detailed review of Emera's executive compensation benchmarking peer group in 2024.

BENCHMARKING PEER GROUP MIX 29% Canadian Energy & Utility Industry 24% Canadian General Industry 47% US Energy & Utility Industry

AI summary The benchmarking peer group mix consists of 29% Canadian Energy & Utility Industry, 24% Canadian General Industry, and 47% US Energy & Utility Industry, as illustrated in Figure 8.

EMERA VS. PAY BENCHMARKING COMPARATOR GROUPS (1) As at date of analysis, February 22, 2024. Note: The above table was prepared by Hugessen Consulting Inc. using data from S&P Capital IQ. In addition to using publicly disclosed compensation...

AI summary The document discusses Emera's executive compensation benchmarking process, which involves comparing data from publicly disclosed compensation of companies in the comparator group, as well as data from Mercer's Total Compensation Survey and Benchmark Database Survey. The MRCC conducted a review in late 2023 to set 2024 pay levels based on this data.

Annual Compensation Review Process Establish Compensation Ranges Performance Assessment by the President and CEO Recommendation for Target Compensation Board Evaluation of President and CEO MRCC Recommendations Each executive position has...

AI summary The annual compensation review process involves establishing compensation ranges based on benchmarking data and industry trends, conducting performance assessments by the President and CEO, and making recommendations for target compensation by the MRCC for board approval.

Scott Balfour President and CEO, Emera Inc. 2024 2023 Year-Over-Year Compensation Mix Compensation Mix Change Base Salary $1,189,650 $1,133,000 5% STIP Target 100% 100% 0% LTIP Target 515% 515% 0% Total Direct Compensation $8,505,998 $8,10...

AI summary Scott Balfour, President and CEO of Emera Inc., received a 5% base salary increase in 2024, resulting in a total target compensation of $8.5 million. 86% of his compensation is tied to performance-based incentives, aligning with the company's pay-for-performance strategy.

Greg Blunden CFO, Emera Inc. 2024 2023 Year-Over-Year Compensation Mix Compensation Mix Change Base Salary $675,000 $620,000 9% STIP Target 80% 80% 0% LTIP Target 220% 220% 0% Total Direct Compensation $2,700,000 $2,480,000 9% 2024 At-Risk...

AI summary Greg Blunden, CFO of Emera Inc., received a 9% increase in base salary in 2024, bringing it to $675,000. His total direct compensation increased by 9% to $2.7 million, with no change in the STIP and LTIP targets. The compensation mix includes base salary, STIP, PSUs, RSUs, and stock options, with 75% of his pay at-risk.

COMPENSATION NET INCOME (2) (50% TARGET WEIGHTING) Payout: 44.6% Payout: 32.8%

AI summary The document presents a figure related to compensation net income with a 50% target weighting, showing payout percentages of 44.6% and 32.8%. The context suggests a discussion around executive compensation or financial performance metrics.

COMPENSATION CASH FLOW (2) (20% TARGET WEIGHTING) (1) Percentage payouts, below or above target for financial measures, are interpolated on a scale between each level of performance (50 per cent for threshold, 100 per cent for target and c...

AI summary The document discusses compensation cash flow with a 20% target weighting. It mentions that payouts are interpolated based on performance levels and defines non-GAAP measures such as compensation net income and compensation cash flow, noting they are reconciled to GAAP measures on page 84.

Compensation net income reconciliation (in millions $) 2024 Reported net income attributable to common shareholders 494 Less: Gain on sale of LIL, after-tax (1) (129) Less: Financing structure wind-up (58) Add: Charges related to wind-down...

AI summary The document presents a reconciliation of compensation net income and cash flow for 2024, including adjustments for various items such as gains and losses from asset sales, wind-down costs, and foreign exchange rate adjustments, resulting in a compensation net income of 885 million dollars and a compensation cash flow of 2,780 million dollars.

Total 2024 Tampa Electric Scorecard Result: 111.87% TE compensation net income reconciliation (in millions $) Reported net income 468 Add: Charges related to wind-down costs and certain asset impairments, after-tax (1) 2 TE compensation ne...

AI summary Tampa Electric's 2024 scorecard result is 111.87%, with a reconciliation of net income and cash flow showing adjustments for wind-down costs, asset impairments, and extraordinary storm costs. These adjustments impact both net income and cash flow figures.

PSU RSU Stock Options Term Three years Three years 10 years Description Notional share units with performance criteria Notional share units Option to purchase Emera shares at an exercise price determined by the fair market value at the tim...

AI summary The document outlines the structure and terms of Performance Share Units (PSU), Restricted Share Units (RSU), and Stock Options as part of the executive compensation strategy. These units are designed to align executive performance with shareholder returns and company goals, with specific vesting, payout, and performance criteria.

2024 PSU GRANT PERFORMANCE METRICS The Company's long-term focus continues to be on EPS growth and long-term shareholder value creation. Accordingly, the Company used the following two weighted metrics for the 2024 PSU grant: - 1. Compensa...

AI summary The Company's 2024 PSU grant is based on two weighted metrics: Compensation EPS growth and Relative TSR. Compensation EPS is a non-GAAP measure used to assess profitability, while Relative TSR evaluates Emera's performance against a Canadian peer group. The grant values were calculated using the 50-day average closing share price of Emera common shares in 2023.

RELATIVE TOTAL SHAREHOLDER RETURN CANADIAN CUSTOM PEER GROUP Company name Industry classification Fortis Inc. Electric Utilities Hydro One Limited Electric Utilities Algonquin Power & Utilities Corp. Multi-Utilities Canadian Utilities Limi...

AI summary The document presents a list of companies within the Canadian custom peer group, categorized by industry classification, and discusses how the combination of two metrics measures management's contributions to long-term shareholder value creation.

The performance period for PSUs granted in 2024 is from January 1, 2024 to December 31, 2026 and the table below shows the performance factor levels: Metrics Weighting Threshold (50%) Target (100%) Stretch (200%) Compensation EPS: three-ye...

AI summary The performance period for 2024 PSUs spans from January 1, 2024, to December 31, 2026. The table outlines performance factor levels, including EPS growth and relative TSR, with thresholds, targets, and stretch goals aligned with prior grants and business plan projections.

PERFORMANCE SHARE UNIT PLAN RESULTS The 2022 PSU grant had a performance period of January 1, 2022 to December 31, 2024 and was subject to two performance metrics: - · Compensation EPS growth weighted at 75 per cent, which is a fundamental...

AI summary The 2022 Performance Share Unit (PSU) grant had a performance period from January 1, 2022, to December 31, 2024. It was based on two metrics: 75% weighted EPS growth and 25% weighted Relative TSR against a Canadian peer group. The performance factor could range from 0% to 200%, with a cap at 200%.

RESTRICTED SHARE UNIT PLAN The RSU Plan is designed to achieve more balance between risk and leverage in Emera's long-term incentive programs, while remaining consistent with our pay-for-performance philosophy. An RSU is a notional share u...

AI summary The Restricted Share Unit (RSU) Plan is designed to balance risk and leverage in Emera's long-term incentive programs, aligning with a pay-for-performance philosophy. RSUs are based on the value of Emera common shares and earn dividends, with payouts calculated after a three-year vesting period based on the share price at the end of the period.

SENIOR MANAGEMENT STOCK OPTION PLAN The Board of Directors has delegated the administration of the Stock Option Plan to the MRCC. The MRCC is responsible for approving, based on management's recommendation, which employees of the Company a...

AI summary The Senior Management Stock Option Plan is administered by the MRCC, with stock options aligned to long-term shareholder interests. The valuation method uses Black-Scholes, but a 10% floor was applied in 2024 due to a 6% valuation over a 36-month period, resulting in a grant value of $4.70 per option.

Stock options vest in 20 per cent increments on the first, second, third, fourth and fifth anniversaries of the grant date. Departure Scenario Details • Accelerate the vesting of options or terminate options upon or immediately prior to th...

AI summary The text outlines the vesting schedule of stock options, which occur in 20% increments over five years. It also describes scenarios for the departure of employees, including the acceleration of vesting, substitution of shares, termination of options for cash or property, and potential termination without payment if the options are deemed valueless.

The table below summarizes certain ratios regarding the Stock Option Plan, namely dilution, burn rate and overhang as defined in the table. 2024 (%) 2023 (%) 2022 (%) Dilution (number of options outstanding, divided by the weighted average...

AI summary The table summarizes key ratios for the Stock Option Plan, including dilution, burn rate, and overhang for the years 2022, 2023, and 2024. The plan allows for transfers of options in the event of the option holder's death, with beneficiaries able to exercise the options.