HomeRates And MoneyM12779Evidence
Topic/Matter Intersection

Topic:"Rates And Money" in M12779

Matter: NSP Maritime Link (NSPML) - Audited Financial Statements - December 31, 2025 and 2025 Cost Containment Report
26 passages 3 documents

Rates And Money across all matters →

N-12025 Financial Statement 2 passages
Nature of Operations p. p. 2
Nature of Operations NSP Maritime Link Inc. ("NSPML" or the "Company"), is indirectly wholly owned by Emera Inc. ("Emera"). Emera is an energy and services company headquartered in Halifax, Nova Scotia, whose shares are publicly traded on...

AI summary NSP Maritime Link Inc. is a subsidiary of Emera Inc., operating under the Maritime Link Act and the Public Utilities Act of Nova Scotia. The company is responsible for the Maritime Link Project, a $1.8 billion transmission project connecting Newfoundland and Labrador to Nova Scotia. The project includes subsea and overhead transmission lines and is regulated by the Nova Scotia Energy Board under a cost-of-service model with a target return on equity range of 8.75% to 9.25%.

PP&E consisted of the following: p. p. 2
PP&E consisted of the following: As at 3113113313 December 31 December 31 millions of Canadian dollars 1311331 2025 2024 Capital cost balance at January 1 $ 1,769.2 $ 1,765.4 Additions 7.5 3.8 Capital cost balance at December 31 1,776.7 1,...

AI summary The document provides a summary of PP&E (property, plant, and equipment) balances for the years 2024 and 2025, including capital cost balances, additions, accumulated depreciation, and net balances. It also mentions a section titled 'REGULATORY MATTERS' which likely discusses regulatory issues related to the utility.

N-22025 Regulated Financial Statements 3 passages
NSP Maritime Link Inc. Regulated Statement of Income Year Ended December 31
NSP Maritime Link Inc. Regulated Statement of Income Year Ended December 31 millions of Canadian dollars Actual 2025 Approved 2025 Assessment Operating revenues $ 156.8 $ 158.2 Operating expenses Operating, maintenance and general 18.6 20....

AI summary The document presents NSP Maritime Link Inc.'s regulated statement of income for the year ended December 31, 2025, showing a net income of $42.3 million. The variance of $0.5 million is due to deferred engineering and inspection activities, and a $1.2 million reduction from unspent operating costs, as referenced in M12394.

NSP Maritime Link Inc. Balance sheet reconciliation for unregulated adjustments
NSP Maritime Link Inc. Balance sheet reconciliation for unregulated adjustments As at December 31 Unregulated Reg BS Reg BS December 31 Unregulated Reg BS Reg BS millions of Canadian dollars 2025 Adjustment Dec 31 2025 Dec 31 2024 2025 Adj...

AI summary The document presents a balance sheet reconciliation for NSP Maritime Link Inc. for unregulated adjustments as of December 31, 2025, highlighting differences between unregulated and regulated balance sheets. It includes details on current and long-term assets, liabilities, and equity, with notes explaining the exclusion of the FLG2 loan and related accruals.

Note 2: Please refer to summary of unregulated costs for detail on unregulated adjustments
Note 2: Please refer to summary of unregulated costs for detail on unregulated adjustments As at December 31 Unregulated Reg BS Reg BS December 31 Unregulated Reg BS Reg BS millions of Canadian dollars 2025 Adjustment Dec 31 2025 Dec 31 20...

AI summary The text provides a summary of unregulated costs and related financial adjustments for a specific period. It includes details on assets, liabilities, equity, and regulatory adjustments, referencing notes for further information.

N-5NSPML (NSEB) RIR 1 to 19 - Redacted 21 passages
NON-CONFIDENTIAL p. p. 14
NON-CONFIDENTIAL Request IR-01: The 2024 regulated balance sheet (page 2 of the regulated financial statements) does not balance. Please provide a revised balance sheet with the discrepancy corrected. Response IR-01: Please see Attachment...

AI summary The 2024 regulated balance sheet is noted to be unbalanced, and a request has been made to provide a corrected version. A response refers to Attachment 1 for the revised balance sheet.

NSP Maritime Link Inc. Regulated Balance Sheet As at December 31 p. p. 14
NSP Maritime Link Inc. Regulated Balance Sheet As at December 31 millions of Canadian dollars 2025 2024 2025 2024 Assets Liabilities and Equity Current assets Current liabilities Cash $ 15.3 $ 6.1 Current portion of long term debt $ 40.0 $...

AI summary The document presents the Regulated Balance Sheet of NSP Maritime Link Inc. as of December 31, 2025 and 2024, highlighting changes in assets, liabilities, and equity. It also addresses a request for reconciliation of operating revenues between consolidated and regulated financial statements, attributing the variance to FLG2 adjustments approved by the NSEB in M11791.

Section 15 p. p. 14
1 Request IR-10: 2 - 3 Provide a detailed breakdown of the following regulated balance sheet categories: - 4 a) Other current liabilities. - 5 b) Other long- term liabilities. - 6 c) Accrued liabilities. 7 8 Response IR-10: 9 10 a) Please...

AI summary The document includes a request (IR-10) for a detailed breakdown of specific regulated balance sheet categories, including Other current liabilities, Other long-term liabilities, and Accrued liabilities, along with a partial response.

NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 7 of 79 REDACTED NSP Maritime Link Incorporated 82957 4318 RC0001 p. p. 20
specified farm services or pro (A) at any time shareholders) (B) it is not the property to (I) persons (II) partners with the cor 4. The amount of is [as defined in subsection 125(7) specified ching or fishing income of the corporation for...

AI summary The text discusses corporate structures and shareholder interests, focusing on farm services, property ownership, and the relationship between corporations and private entities. It outlines conditions under which property can be transferred and the implications for shareholders and partners.

Balance sheet information p. p. 20
Balance sheet information Account Description GIFI Current year Prior year Assets Total current assets 1599 + 36,789,433 21,080,069 Total tangible capital assets 2008 + 1,769,254,092 1,765,363,931 2009 Total accumulated amortization of tan...

AI summary The text presents a balance sheet with details on assets, liabilities, and shareholder equity for the current and prior years. It includes figures for total current and long-term assets, accumulated amortization, and liabilities, along with shareholder equity figures.

GENERAL INDEX OF FINANCIAL INFORMATION – GIFI Form identifier 125 Tax year-end Year Month Day é Corporation's name Business number NSP Maritime Link Incorporated 82957 4318 RC0001 2024-12-31 Income statement information Description GIFI Operating name . . . . . . . . . . . . 0001 Description of the operation . . . . . 0002 Sequence number . . . . . . . . . . 0003 01 Account Description GIFI Current year Prior year Income statement information Total sales of goods and services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8089 + 161,593,423 162,827,119 Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8518 – Gross profit/loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8519 = 161,593,423 162,827,119 Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8518 + Total operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9367 + 119,447,699 118,296,869 Total expenses (mandatory field) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9368 = 119,447,699 118,296,869 Total revenue (mandatory field) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8299 + 163,846,304 164,537,716 Total expenses (mandatory field) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9368 – 119,447,699 118,296,869 Net non-farming income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9369 = 44,398,605 46,240,847 Farming income statement information Total farm revenue (mandatory field) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9659 + Total farm expenses (mandatory field) . . . . . . . . . . . . . . . . . . . . . . . . . . . 9898 – Net farm income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9899 = Net income/loss before taxes and extraordinary items . . . . . . . . . . . . . . . 9970 = 44,398,605 46,240,847 Total – other comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . 9998 = Extraordinary items and income (linked to Schedule 140) Extraordinary item(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9975 – Legal settlements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9976 – Unrealized gains/losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9980 + Unusual items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9985 – Current income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9990 – p. p. 20
GENERAL INDEX OF FINANCIAL INFORMATION – GIFI Form identifier 125 Tax year-end Year Month Day é Corporation's name Business number NSP Maritime Link Incorporated 82957 4318 RC0001 2024-12-31 Income statement information Description GIFI Op...

AI summary This document presents the General Index of Financial Information (GIFI) for NSP Maritime Link Incorporated for the tax year ending December 31, 2024. It includes financial details such as income, expenses, and net income, with comparisons to the prior year.

- If you need more space, attach additional schedules. p. p. 20
- If you need more space, attach additional schedules. Net incom ne (loss) after taxes and extraordinary items from line 9999 of Schedule 125 44,733,898 A Net incom ne (loss) after extraordinary items from line 110 of Schedule 15 50 Total...

AI summary The text presents a financial table with various line items related to net income, taxes, amortization, and other financial adjustments. It includes figures for provisions, donations, and expenses, as well as deductions and contributions. The data appears to be part of a financial report or regulatory filing.

023 p. p. 20
023 - Part 2A – Interest and financing expenses (IFE) ———————————————————————————————————— An amount, under or as a result of an agreement or arrangement entered into as or in relation to a borrowing or other financing of the corporation n...

AI summary This section outlines the calculation of interest and financing expenses (IFE) for a corporation, including amounts received or receivable that reduce the cost of funding, gains included in income, and the corporation's share of partnership amounts. The total IFE is calculated as Amount A minus Amount B, with a value of $42,537,603.

Section 167 p. p. 20
NSP Maritime Link Incorporated

AI summary The text mentions 'NSP Maritime Link Incorporated,' which is an entity associated with Nova Scotia Power. No further details or context are provided in the text.

Part 2N – Partnership IFE add-back under paragraph 12(1)(l.2) p. p. 20
Part 2N – Partnership IFE add-back under paragraph 12(1)(l.2) 156 Total of all amounts included under paragraph (h) of variable A of corporation's IFE (amount A from Part 1E) 157 96.273 Ratio determined under subsection 18.2(2) (amount G f...

AI summary The text details the calculation of the Partnership IFE add-back under paragraph 12(1)(l.2) and the RIFE under subsection 111(8), including various line items and amounts related to tax calculations for NSPML. It outlines the process for determining these values based on specific tax provisions.

Section 187 p. p. 53
NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 36 of 79 REDACTED NSPML 2024 - T2.224 2025-06-11 15:24

AI summary The text references the 2025 Financial Statements and Cost Containment Reports for NSPML, along with a T2.224 document dated 2024 and a timestamp from June 11, 2025. The content is partially redacted and appears to be part of a regulatory proceeding.

Corporation Loss Continuity and Application p. p. 61
Corporation Loss Continuity and Application Corporation's name Business number Tax year-end Year Month Day NSP Maritime Link Incorporated 82957 4318 RC0001 2024-12-31 - Use this form to determine the continuity and use of available losses;...

AI summary This document outlines the process for determining the continuity and application of corporation losses, including non-capital losses, farm losses, and restricted losses, for NSP Maritime Link Incorporated for the tax year ending December 31, 2024.

Non-capital losses p. p. 61
Non-capital losses Applied to reduce Year of origin Balance at beginning of year Loss incurred in current year Adjustments and transfers Loss carried back Parts I & IV Taxable income Part IV tax Balance at end of year Current N/A 412,627,2...

AI summary The document presents a table detailing non-capital losses for various taxation years, showing balances at the beginning and end of each year, with the current year's loss being $412,627,250 and the total non-capital losses amounting to $824,381,048. A note indicates that this balance expires this year and will not be available next year.

Deferred Income Plans p. p. 72
Deferred Income Plans Corporation's name Business number Tax year end Year Month Day NSP Maritime Link Incorporated 82957 4318 RC0001 2024-12-31 - Complete the information below if the corporation deducted payments from its income made to...

AI summary The document provides information about a corporation, NSP Maritime Link Incorporated, and its tax year end. It requests completion of details related to payments deducted from the corporation's income made to various pension and profit-sharing plans.

Name (list each payee separately) Address Payment code (see note 1) Amount $ p. p. 72
Name (list each payee separately) Address Payment code (see note 1) Amount $ 100 200 300 400 1 Van Oord Offshore Wind B.V. Gorinchen 09 3,133,811 Netherlands NL 4207HN Note 1: Enter the applicable payment 1 – I Royalties 6 - Interes t code...

AI summary The document contains a table with payment information, including payee names, addresses, payment codes, and amounts. The table includes an entry for Van Oord Offshore Wind B.V. from the Netherlands, with a payment code of 09 and an amount of $3,133,811. A note explains the payment codes, such as royalties, rents, and management fees.

Taxable capital employed in Canada. p. p. 83
Taxable capital employed in Canada. • Add the following year-end amounts: Reserves that have not been deducted in calculating income for the year under Part I 101 Capital stock (or members' contributions if incorporated without share capit...

AI summary The text outlines the calculation of taxable capital employed in Canada by adding various financial components such as capital stock, retained earnings, loans, and other indebtedness, resulting in a subtotal of $2,092,784,200.

Title Part 1 – All loans and advances to the corporation p. p. 83
Title Part 1 – All loans and advances to the corporation Operator Description (Note) Amount Current due to associated companies 3,747,992 00 LT debt interco + 1,609,757,101 00 Accrued interest on LT debt interco + 4,086,387 00 Total 1,617,...

AI summary This section outlines the current due to associated companies and long-term debt intercompany balances, including accrued interest, totaling approximately $1.617 billion. The note clarifies that calculations are performed sequentially, not according to standard operation priority rules.

Low Rate Income Pool (LRIP) Calculation p. p. 83
Low Rate Income Pool (LRIP) Calculation Corporation's name Business number Tax year-end Year Month Day NSP Maritime Link Incorporated 82957 4318 RC0001 2024-12-31 Nor Manuffle Link Incorporated 02937 4310 KC0001 202 1 -12-31 On: 2024-12-31

AI summary The document provides details on the Low Rate Income Pool (LRIP) calculation for NSP Maritime Link Incorporated and Nor Manuffle Link Incorporated as of December 31, 2024. It includes corporate names, business numbers, and tax year-end dates.

NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 71 of 79 REDACTED NSP Maritime Link Incorporated 82957 4318 RC0001 p. p. 83
NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 71 of 79 REDACTED NSP Maritime Link Incorporated 82957 4318 RC0001 Adjustment date Unused and unexpired losses at the end of the corporation's previo...

AI summary The document outlines a series of financial calculations and adjustments related to NSP Maritime Link Incorporated's 2025 financial statements, including adjustments for unused losses, debts, capital, and reserves, as well as considerations for the corporation's status as a private corporation and its general rate income pool.

T3 - 2 0 2 5 p. p. 109
T3 - 2 0 2 5 26 Other income 49 Actual amount of eligible dividends

AI summary The document text includes a heading and two lines of text related to financial data, specifically 'Other income' and 'Actual amount of eligible dividends'. These lines appear to be part of a financial report or statement.

NSP Maritime Link Incorporated Net Operating Loss Carryforwards For the year ended December 31, 2025 p. p. 117
NSP Maritime Link Incorporated Net Operating Loss Carryforwards For the year ended December 31, 2025 868,588,217 (12,642,018) (31,582,976) (54,192,894) 770,170,329 2025 2024 412,627,247 412,627,247 2023 - 2022 - 2021 5,129,049 5,129,049 20...

AI summary The document presents financial details for NSP Maritime Link Incorporated, including net operating loss carryforwards, changes in other regulatory assets, and SR&ED ITC carryovers for the year ended December 31, 2025. These figures reflect various financial adjustments and balances over the years.

Disclaimer: These summaries were generated by AI from the filings they describe. We take care to make them accurate, but errors are possible - and they aren't advice. Only the filings themselves are the record: if you're relying on something here, confirm it against the source documents or the Nova Scotia Energy Board's own record. Full disclaimer →