N-12025 Annual Financial Statements - Redacted
77 passages
Regulated Operating, Maintenance and General For the Three months ended Year ended millions of Canadian dollars December 31 December 31 Actual Test Year Prior Year Actual Test Year Prior Year 2025 (1) 2024 2024 2025 2024 2024 Power Product...
AI summary This section presents financial data for Regulated Operating, Maintenance, and General expenses, comparing actual figures for the three months and year ended December 31, 2025, with test year and prior year figures. It includes various categories such as Power Production, Customer Operations, and Corporate Adjustments.
NSPI recognizes deferred income tax assets and liabilities for the future tax consequences of events that have been included in the consolidated financial statements or income tax returns, in accordance with NSPI's rate-regulated accountin...
AI summary NSPI accounts for deferred income tax assets and liabilities based on future tax consequences, following its rate-regulated accounting policy approved by the NSEB. These are recognized as regulatory assets or liabilities if expected to be recovered from or returned to customers.
The income tax provision, for the years ended December 31 differs from that computed using the enacted Canadian federal statutory income tax rate for the following reasons: millions of dollars 2025 2024 Income before provision for income t...
AI summary The income tax provision for the years ended December 31, 2025 and 2024 differs from the statutory income tax rate due to various reconciling items, including investment tax credits, deferred income taxes on regulated income, Net Part VI.1 tax, and provincial income taxes, primarily in Nova Scotia.
A summary of the activity related to employee PSUs for the year ended December 31, 2025, is presented in the following table: Weighted Average Grant Aggregate Intrinsic Value Employee PSU Date Fair Value (millions of dollars) Outstanding a...
AI summary This document outlines the activity related to employee Performance Share Units (PSUs) for the year ended December 31, 2025, including the number of PSUs outstanding, granted, exercised, and forfeited, as well as compensation costs and tax benefits realized. The weighted average grant date fair value and aggregate intrinsic value are also provided.
Restricted Share Unit Plan Under the RSU plan, certain executive and senior employees are eligible for long-term incentives payable through the RSU plan. RSUs are granted annually for three-year overlapping cycles, resulting in a cash paym...
AI summary The Restricted Share Unit (RSU) plan provides long-term incentives to executive and senior employees, with RSUs granted annually over three-year cycles. Vesting occurs at the end of the cycle, with payouts determined by the MRCC based on service and market price. Dividend equivalents are awarded as additional RSUs, and payouts may be pro-rated in certain scenarios, including retirement.
A summary of the activity related to employee RSUs for the year ended December 31, 2025, is presented in the following table: Weighted Average Grant Aggregate Intrinsic Value Employee RSU Date Fair Value (millions of dollars) Outstanding a...
AI summary The document summarizes employee RSU activity for the year ended December 31, 2025, including outstanding RSUs, grants, exercises, forfeitures, and transfers. It also outlines compensation costs, tax benefits, and cash payments related to the RSU and PSU plans.
Consolidated Statements of Income For the Three months ended Year ended millions of dollars December 31 December 31 2025 2024 2025 2024 Operating revenues $ 504 $ 479 $ 1,944 $ 1,855 Fuel for generation and purchased power 269 (216) 1,065...
AI summary The consolidated statements of income for the three months and year ended December 31, 2025, and 2024, show operating revenues of $504 million and $1,944 million, respectively. Operating expenses include fuel costs, FAM deferrals, and depreciation, with net income reported at $22 million for the three months and $141 million for the year.
Electric Sales Volume Three months ended Year ended December 31 For the December 31 Gigawatt hours ("GWh") 2025 2024 2025 2024 Residential 1,411 1,343 5,292 5,096 Commercial 766 763 3,084 3,046 Industrial 535 569 2,098 2,217 Other 57 57 23...
AI summary The document provides data on electric sales volume and revenues for the periods ending December 31, 2025, and 2024. Residential, commercial, industrial, and other sales volumes and revenues are detailed, with highlights on changes in revenues due to factors such as increased electricity pricing, weather impacts, and sales volume changes.
Significant changes in the Consolidated Statements of Cash Flows between the years ended December 31, 2025 and 2024 include: millions of dollars 2025 2024 Change Cash, beginning of period $ - $ 78 $ (78) Provided by (used in): Operating ca...
AI summary The Consolidated Statements of Cash Flows show significant changes between 2025 and 2024, including a decrease in operating cash flow before change in working capital and a substantial drop in cash at the end of the period.
The following table sets forth selected annual consolidated financial information of the Company for the three years ended December 31: millions of dollars 2025 2024 2023 Operating revenues $ 1,944 $ 1,855 $ 1,671 Net income $ 141 $ 160 $...
AI summary The text presents a table with selected annual consolidated financial information of the Company for the years 2025, 2024, and 2023, including operating revenues, net income, total assets, and total long-term debt.
Voting Shares and Principal Holders Thereof Authorized Capital: 1. an unlimited number of Common Shares without nominal or par value; 2. an unlimited number of first preferred shares, issuable in series; and 3. an unlimited number of secon...
AI summary The document outlines the authorized capital structure of Nova Scotia Power Incorporated, including the types of shares issued and the voting rights associated with Common Shares. It also specifies the Record Date for determining shareholders entitled to vote at the upcoming meeting.
Name Number of Common Shares Percentage Emera Incorporated Halifax, Nova Scotia 183,517,299 100% Common Shares are the only voting shares at this time. All voting shares of the Company are beneficially owned by Emera Incorporated (Emera)....
AI summary Emera Incorporated holds 100% of the common shares in the company, which are the only voting shares. Nova Scotia legislation restricts non-resident shareholders to 25% of voting shares and all shareholders (except Emera) to 15% of voting shares for director elections. Compliance measures include limiting voting and transfer rights and requiring statutory declarations.
Name and position Salary ($) (1) Recovered in rates ($) Annual incentive payout ($)(2) PSU/RSU payout ($) (3) Value of perquisites & all other compensati on ($)(4) Recove -red in rates ($) Total 2025 Compensati- on (includ. PSU& RSU Payout...
AI summary The table presents compensation details for executives at Nova Scotia Power Incorporated (NSPI) and Emera Inc., including salaries, recovered in rates, incentive payouts, and other compensation. It highlights that only a portion of Peter Gregg's salary was recoverable in rates, while others received no recoverable compensation.
Nova Scotia Power Incorporated – Management Information Circular 2026 Name and position Year Salary, consulting fee, retainer or commission ($) Bonus ($)(2) Committee or meeting fees ($) Value of perquisites ($)(3) Value of all other compe...
AI summary The document provides a summary of compensation for directors and executives of Nova Scotia Power Incorporated in 2024 and 2025, including salary, bonuses, and other compensation. Some individuals have no reported compensation, while others received fees for committee or meeting participation.
- (2) The bonus figures provided reflect the short-term incentive paid to the executive in cash. For 2025, the payouts were based on the NSPI Scorecard result of 88.4 per cent and the Emera Scorecard result of 121.3 per cent. For 2024, the...
AI summary This text outlines the compensation structure for executives and directors of Nova Scotia Power Incorporated (NSPI) and Emera, including short-term incentives, deferred share units (DSUs), and other forms of compensation. It details how payouts are calculated based on scorecard results and highlights the allocation of director fees to Emera.
The following table shows the compensation securities granted to each NEO and Director in 2025: Compensation Securities Name and position Type of compensation security Description Number of compensation securities, number of underlying sec...
AI summary The table outlines the compensation securities granted to Named Executive Officers (NEOs) and Directors of Nova Scotia Power Incorporated (NSPI) in 2025, including Performance Share Units, Restricted Share Units, Stock Options, and Deferred Share Units, along with their respective quantities, issue prices, and expiry dates.
Nova Scotia Power Incorporated - Management Information Circular 2026 Name and position Type of compensation security Description Description Number of compensation securities, number of underlying securities, and percentage class (1) Date...
AI summary The document outlines the compensation structure for directors and executives of Nova Scotia Power Incorporated, including deferred share units and their vesting schedules, expiry dates, and issue prices.
2025 Annual Financial Statements Attachment 4 Page 19 of 24 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Incorporated – Management Information Circular 2026 - (3) The value of the stock options granted to the NEOs in 2025...
AI summary This section of the 2026 Management Information Circular outlines the valuation of stock options and deferred share units (DSUs) granted to executives and directors of Nova Scotia Power Incorporated in 2025. The valuation methods, including the use of a floor value ratio, average share prices, and compensation details for board members, are described in detail.
The following table shows the compensation securities exercised by Directors and NEOs in 2025: Exercise of Compensation Securities by Directors and NEOs Name and position Type of compensation security Number of underlying securities exerci...
AI summary The table details the compensation securities exercised by Directors and Named Executive Officers (NEOs) of Nova Scotia Power Incorporated (NSPI) and Emera Inc. in 2025, including the number of units, exercise prices, and total values. The 2022 PSU and RSU grants were based on a three-year vesting period and calculated using a 50-day share price average and a performance factor of 0.514.
The table below identifies how much each NEO elected to allocate their short-term incentive to DSUs for 2024 and 2025: 2025 2024 Name Percentage of annual incentive allocated to deferred share units (%) Dollar amount of annual incentive al...
AI summary The table shows the allocation of short-term incentives to deferred share units (DSUs) by named executive officers (NEOs) for 2024 and 2025. Greg Blunden allocated 50% of his annual incentive to DSUs, while Peter Gregg and Michael Roberts allocated 0%.
2025 Annual Financial Statements Attachment 4 Page 23 of 24 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Incorporated – Management Information Circular 2026
AI summary The document is a management information circular for Nova Scotia Power Incorporated for the year 2026, part of the 2025 Annual Financial Statements Attachment 4. It contains redacted confidential information and is used for shareholder communication.
The following is a summary of the entitlements on departure afforded to Peter Gregg under his employment contract or the applicable plans as of December 31, 2025: Peter Gregg Resignation All unvested PSUs, RSUs and stock options are forfei...
AI summary This document outlines the entitlements Peter Gregg would receive upon departure from his employment with Nova Scotia Power Incorporated under various scenarios, including resignation, termination for or without cause, change of control, and retirement, detailing compensation, benefits, and the handling of unvested PSUs, RSUs, and stock options.
The following information is provided for each Director of NSPI as at December 31, 2025: Name and Residence Director Since (1) Principal Occupations During Past Five Years Sandra Greer Halifax, Nova Scotia, Canada 2014 Former President and...
AI summary This section provides information about Sandra Greer, a director of Nova Scotia Power Incorporated (NSPI), including her professional background and current board memberships. She has held leadership roles at Amirix Systems Inc. and currently serves on the boards of Innovasea and Precision Biologic.
The Officers of NSPI as at December 31, 2025 were as follows: Name, Position and Residence Principal Occupations During Past Five Years Peter H. Gregg President and CEO Halifax, Nova Scotia, Canada President and Chief Executive Officer of...
AI summary This text provides an overview of the officers of Nova Scotia Power Incorporated (NSPI) as of December 31, 2025, including their positions and prior professional experiences.
2025 Annual Financial Statements Attachment 6 Page 14 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board
AI summary This section of the 2025 Annual Financial Statements provides a strategic overview and includes Management's Discussion and Analysis (MD&A) along with consolidated financial statements. It also mentions Emera Leadership and the Board, indicating the involvement of key organizational entities.
The following table highlights significant changes in adjusted net income from 2024 to 2025: For the millions of dollars Three months ended December 31 Year ended December 31 Adjusted net income – 2024 $ 246 $ 849 Operating Unit Performanc...
AI summary The text presents a table showing changes in adjusted net income and cash flow from 2024 to 2025, highlighting factors like revenue from new base rates, weather conditions, and operational expenses. It also includes details on total assets and long-term debt, excluding certain balances classified as held for sale.
Consolidated Income Statement Highlights For the Three months ended December 31 Year ended December 31 Year ended December 31 millions of dollars (except per share amounts) 2025 2024 Variance 2025 2024 Variance 2023 Operating revenues $ 2,...
AI summary The consolidated income statement highlights show an increase in operating revenues and income from operations for both the three months and year ended December 31, 2025, compared to 2024. However, net income attributable to common shareholders decreased in both periods. Adjusted net income and adjusted EBITDA increased, indicating improved performance after adjustments.
2025 Annual Financial Statements Attachment 6 Page 21 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder infor...
AI summary This section of the 2025 Annual Financial Statements discusses the translation of financial results from foreign operations, using weighted average exchange rates for net income and period-end rates for assets and liabilities. It highlights the importance of exchange rates in financial reporting.
Annual electric revenues and sales volumes are summarized in the following table by customer class: Electric Revenues (millions of USD) Electric Sales Volumes (Gigawatt hours ("GWh")) 2025 2024 2025 2024 Residential $ 1,786 $ 1,507 10,309...
AI summary The table summarizes annual electric revenues and sales volumes by customer class for 2024 and 2025, showing increases in both revenue and sales volume across residential, commercial, industrial, and other categories.
Canadian Electric Utilities For the Three months ended December 31 Year ended December 31 millions of dollars (except as indicated) 2025 2024 2025 2024 Operating revenues – regulated electric $ 504 $ 479 $ 1,944 $ 1,855 Regulated fuel for...
AI summary The text provides financial data for Canadian Electric Utilities, including operating revenues, regulated fuel costs, and contributions to consolidated net income for the three months and year ended December 31, 2025 and 2024. Average fuel costs per MWh are also reported.
Highlights of net income changes are summarized in the following table: For the millions of dollars Three months ended December 31 Year ended December 31 Contribution to consolidated net income – 2024 $ 77 $ 232 Increased operating revenue...
AI summary The document highlights changes in net income for 2024 and 2025, noting increased operating revenues at NSPI due to higher fuel and storm cost recoveries, and decreased FAM deferral due to the 2024 NSPML Refund. There were also increased operating and maintenance costs, depreciation, and decreased income tax recovery.
Annual electric revenues and sales volumes are summarized in the following tables by customer class: Electric Revenues (millions of dollars) Electric Sales Volumes (GWh) 2025 2024 2025 2024 Residential $ 1,073 $ 997 5,292 5,096 Commercial...
AI summary The text presents annual electric revenues and sales volumes by customer class for 2024 and 2025, followed by a reference to a redacted page in the 2025 Annual Financial Statements Attachment 6.
2025 Annual Financial Statements Attachment 6 Page 33 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board
AI summary This section of the 2025 Annual Financial Statements provides a strategic overview, including Management's Discussion and Analysis, Consolidated Financial Statements, and information about Emera Leadership and the Board.
Annual gas revenues and sales volumes are summarized in the following tables by customer class: Gas Revenues (millions of USD) Gas Volumes (millions of Therms) 2025 2024 2025 2024 Residential $ 548 $ 520 394 410 Commercial 377 362 875 824...
AI summary The document presents annual gas revenues and sales volumes by customer class for 2024 and 2025, highlighting revenue and volume figures for residential, commercial, industrial, and other categories, with industrial revenue including sales to power generation customers.
Other Electric Utilities For the Three months ended December 31 Year ended December 31 millions of USD (except as indicated) 2025 2024 2025 2024 Operating revenues – regulated electric $ 102 $ 107 $ 413 $ 413 Regulated fuel for generation...
AI summary The table presents financial data for other electric utilities, including operating revenues, regulated fuel costs, and contribution to net income for the periods ending December 31, 2025, and 2024. The impact of foreign exchange rate changes on CAD earnings was minimal.
Other Electric Utilities' contribution to consolidated adjusted net income is summarized in the following table: For the Three months ended December 31 Year ended December 31 millions of USD 2025 2024 2025 2024 BLPC $ 7 $ 13 $ 19 $ 27 GBPC...
AI summary The table summarizes the contribution of Other Electric Utilities to consolidated adjusted net income for the three months and year ended December 31 in 2024 and 2025, showing figures in millions of USD.
Other For the Three months ended Year ended December 31 millions of dollars 2025 2024 2025 2024 Marketing and trading margin (1)(2) $ 60 $ 35 $ 158 $ 77 Other non-regulated operating revenue 7 10 32 32 Total operating revenues – non-regula...
AI summary The document presents financial data for a period, including marketing and trading margin, non-regulated operating revenue, and various charges and gains related to business operations and asset sales. It highlights figures for the three months and year ended December 31, 2025 and 2024.
Other's contribution to consolidated adjusted net (loss) income is summarized in the following table: For the Three months ended December 31 Year ended December 31 millions of dollars 2025 2024 2025 2024 Emera Energy: EES $ 33 $ 16 $ 80 $...
AI summary The text presents a table summarizing the contribution to consolidated adjusted net (loss) income for various entities, including Emera Energy, Block Energy, and corporate segments, for the periods ending December 31, 2025, and 2024.
Highlights of net income (loss) changes are summarized in the following table: For the millions of dollars Three months ended December 31 Year ended December 31 Contribution to consolidated net (loss) income – 2024 $ (146) $ (686) Increase...
AI summary The document highlights changes in net income (loss) for 2024 and 2025, including factors such as increased marketing and trading margin at EES, decreased equity earnings at Bear Swamp due to an unplanned outage, and changes in interest expense and income tax recovery. The contribution to consolidated net (loss) income for 2024 and 2025 is reported as negative figures.
Corporate's adjusted loss is summarized in the following table: For the Three months ended December 31 millions of dollars 2025 2024 2025 2024 Operating expenses (1) $ (35) $ (23) $ (78) $ (74) Interest expense (101) (97) (381) (367) Incom...
AI summary The document presents a summary of corporate adjusted losses for specific time periods, highlighting operating expenses, interest expenses, income tax recovery, preferred dividends, and other factors. The figures show significant financial changes between 2024 and 2025.
As at December 31, 2025, contractual commitments for each of the next five years and in aggregate thereafter consisted of the following: millions of dollars 2026 2027 2028 2029 2030 Thereafter Total Long-term debt principal (1)(2) $ 1,297...
AI summary The document outlines contractual commitments for the next five years and beyond as of December 31, 2025, including long-term debt, interest payments, purchased power, transportation, fuel, and other obligations. It also mentions that upon the sale of NMGC, the remaining obligations will be transferred to the buyer.
Derivative Assets and Liabilities Recognized on the Balance Sheet As at millions of dollars December 31 2025 December 31 2024 Regulatory Deferral: Derivative instrument assets (1) $ 24 $ 45 Derivative instrument liabilities (2) (34) (40) R...
AI summary The text presents a table showing the changes in derivative assets and liabilities recognized on the balance sheet as of December 31, 2025, and December 31, 2024, including regulatory deferral, HFT derivatives, and other derivatives. Values are reported in millions of dollars.
2025 Annual Financial Statements Attachment 6 Page 59 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder infor...
AI summary The document discusses the discount rate used to determine benefit costs, which is based on the yield of high-quality long-term corporate bonds and aligns with the duration of the PBO as of January 1 of the fiscal year. It also mentions the expected return on plan assets for each plan.
Consolidated Statements of Income For the Year ended December 31 millions of dollars (except per share amounts) 2025 2024 Operating revenues Regulated electric $ 6,858 $ 5,872 Regulated gas 1,713 1,575 Non-regulated 205 (247) Total operati...
AI summary The consolidated statements of income for Nova Scotia Power Incorporated show a significant increase in operating revenues and net income from 2024 to 2025, with regulated electric and gas revenues rising and operating expenses also increasing. Net income attributable to common shareholders rose from $494 million to $1,014 million.
Consolidated Statements of Comprehensive Income For the Year ended December 31 millions of dollars 2025 2024 Net income $ 1,090 $ 568 Other comprehensive income (loss) ("OCI"), net of tax Foreign currency translation adjustment (1) (623) 1...
AI summary The consolidated statements of comprehensive income for Nova Scotia Power Incorporated show a significant increase in net income from $568 million in 2024 to $1,090 million in 2025. Other comprehensive income (OCI) decreased from $956 million in 2024 to $388 million in 2025, influenced by foreign currency translation adjustments and pension obligations.
Consolidated Balance Sheets As at millions of dollars December 31 2025 December 31 2024 Assets Current assets Cash and cash equivalents $ 349 $ 196 Restricted cash 16 17 Inventory (note 15) 821 781 Derivative instruments (notes 16 and 17)...
AI summary The consolidated balance sheets present the financial position of Nova Scotia Power Incorporated as of December 31, 2025, and December 31, 2024, highlighting key assets such as cash, inventory, PP&E, and regulatory assets. The document also includes the Management's Discussion and Analysis section, which provides insights into the company's financial performance and outlook.
The accompanying notes are an integral part of these consolidated financial statements. Approved on behalf of the Board of Directors "Karen Sheriff" "Scott Balfour" Chair of the Board President and Chief Executive Officer Management's Disc...
AI summary The document includes consolidated financial statements, Management's Discussion and Analysis, and information related to Emera's leadership and board, as well as shareholder information. It was approved by the Board of Directors, with Karen Sheriff as Chair and Scott Balfour as President and CEO.
Consolidated Statements of Cash Flows For the Year ended December 31 millions of dollars 2025 2024 Operating activities Net income $ 1,090 $ 568 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation...
AI summary The consolidated statements of cash flows for 2025 and 2024 show a net cash provided by operating activities of $1,802 million and $2,646 million, respectively. Investing activities used $3,482 million and $2,218 million, while financing activities provided $1,841 million and used $818 million. The cash balance at the end of 2025 was $371 million.
2025 Annual Financial Statements Attachment 6 Page 85 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder infor...
AI summary The document provides an overview of the 2025 Annual Financial Statements, including sections such as Management's Discussion and Analysis, Consolidated Financial Statements, and Notes to the Consolidated Financial Statements.
millions of dollars Florida Electric Utility Canadian Electric Utilities Gas Utilities and Infrastructure Other Electric Utilities Other Inter Segment Eliminations Total For the year ended December 31, 2025 Operating revenues from $ 4,336...
AI summary The text presents a financial summary of operating revenues, costs, and net income for various utility segments, including Florida Electric Utility, Canadian Electric Utilities, and Gas Utilities and Infrastructure, for the year ended December 31, 2025. It also includes details on capital expenditures and total assets as of that date.
Notes to the Consolidated Financial Statements millions of dollars Florida Electric Utility Canadian Electric Utilities Gas Utilities and Infrastructure Other Electric Utilities Other Inter Segment Eliminations Total For the year ended Dec...
AI summary This document presents the consolidated financial statements for various utility segments, including operating revenues, costs, and capital expenditures. It details financial figures for Florida Electric Utility, Canadian Electric Utilities, Gas Utilities and Infrastructure, and other segments, while highlighting inter-segment eliminations and the impact on financial reporting.
The following disaggregates the Company's revenue by major source: Electric Gas Other Florida Canadian Other Gas Inter millions of dollars Electric Utility Electric Utilities Electric Utilities Utilities and Infrastructure Other Segment El...
AI summary The document provides a detailed breakdown of the company's revenue by major source, including regulated and non-regulated revenue, for the years 2025 and 2024. It categorizes revenue into residential, commercial, industrial, and other electric segments, along with regulatory deferrals and finance income.
The income tax provision, for the years ended December 31, differs from that computed using the enacted Canadian federal statutory income tax rate for the following reasons: millions of dollars 2025 2024 Income before provision for income...
AI summary The income tax provision for the years ended December 31, 2025 and 2024 differs from the statutory income tax rate due to various reconciling items, including investment tax credits, deferred income taxes, valuation allowances, and provincial and foreign tax items.
Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder information Notes to the Consolidated Financial Statements
AI summary The text provides a high-level overview of financial and strategic information, including Management's Discussion and Analysis, consolidated financial statements, and leadership details from Emera. It includes sections such as shareholder information and notes to the financial statements.
The deferred income tax assets and liabilities presented in the Consolidated Balance Sheets as at December 31 consisted of the following: millions of dollars 2025 2024 Deferred income tax assets: Tax loss carryforwards $ 1,028 $ 1,118 Tax...
AI summary The document details the deferred income tax assets and liabilities for the company as of December 31, 2025, showing a valuation allowance of $317 million. Emera has determined that it is more likely than not to realize all recorded deferred income tax assets, except for certain loss carryforwards and unrealized capital losses. A net tax benefit of $28 million was recognized in 2025.
Emera's net operating loss ("NOL"), capital loss and tax credit carryforwards and their expiration periods as at December 31, 2025 consisted of the following: millions of dollars Tax Carryforwards Subject to Valuation Allowance Net Tax Car...
AI summary The document outlines Emera's net operating loss, capital loss, and tax credit carryforwards as of December 31, 2025, including their expiration periods in Canada and the United States. The data is presented in a table showing amounts in millions of dollars, with some losses subject to valuation allowances.
Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder information Notes to the Consolidated Financial Statements
AI summary The text outlines key sections of a financial report, including the strategic overview, consolidated financial statements, leadership information, shareholder details, and notes to the financial statements.
13. Earnings Per Share Basic earnings per share is determined by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net...
AI summary This section explains the calculation of basic and diluted earnings per share (EPS). Basic EPS is calculated by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding. Diluted EPS adjusts for potentially dilutive securities such as stock options, convertible debentures, and shares issued under the DRIP.
The following table reconciles the computation of basic and diluted earnings per share: For the Year ended December 31 millions of dollars (except per share amounts) 2025 2024 Numerator Net income attributable to common shareholders $ 1,01...
AI summary This section provides a reconciliation of the computation of basic and diluted earnings per share for the years ended December 31, 2025 and 2024, showing net income, diluted numerator, weighted average shares, and earnings per share figures.
For the Year ended December 31 millions of dollars 2025 2024 Equity FX Forwards Derivatives FX Forwards Equity Derivatives Unrealized gain (loss) in OM&G $ — $ 8 $ — $ (2) Unrealized gain (loss) in other income, net 39 — (44) — Realized ga...
AI summary The table presents financial figures related to unrealized and realized gains and losses in OM&G and other income for the years 2025 and 2024. These figures are relevant in understanding the financial performance and credit risk of the organization.
The Company's concentrations of risk consisted of the following: As at December 31, 2025 December 31, 2024 millions of % of total millions of % of total dollars exposure dollars exposure Receivables, net Regulated utilities: Residential $...
AI summary The Company's risk concentrations include significant exposure in regulated utilities, trading group, and other accounts receivable. As of December 31, 2025, regulated utilities accounted for 41% of total exposure, while trading group accounted for 27%. The Company also has a classification of assets held for sale related to NMGC, following an agreement to sell it in August 2024.
Additional information related to Emera's leases is as follows: For the millions of dollars (except as indicated) Year ended December 31 2025 Year ended December 31 2024 Operating Leases Finance Leases Operating Leases Finance Leases Cash...
AI summary The text provides details about Emera's leases, including cash paid for lease liabilities, right-of-use assets, and weighted average lease terms and discount rates for operating and finance leases in 2025 and 2024.
Pension Plan Asset Allocations Emera's investment policy includes discussion regarding the investment philosophy, the level of risk which the Company is prepared to accept with respect to the investment of the Pension Funds, and the basis...
AI summary Emera's investment policy outlines its approach to managing Pension Fund assets, emphasizing diversification across asset classes and securities to manage risk and achieve returns that meet actuarial assumptions.
2025 Annual Financial Statements Attachment 6 Page 117 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder info...
AI summary This document provides the 2025 Annual Financial Statements for Emera Incorporated, including management's discussion and analysis, consolidated financial statements, and shareholder information. It also includes notes to the financial statements and information about Emera's leadership and board.
2025 Annual Financial Statements Attachment 6 Page 120 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder info...
AI summary This document outlines the 2025 Annual Financial Statements for Emera Incorporated, including strategic overview, management's discussion and analysis, consolidated financial statements, leadership and board information, shareholder details, and notes to the financial statements.
Long-term debt as at December 31 consisted of the following: Weighted average interest rate (1) millions of dollars 2025 2024 Maturity 2025 2024 Florida Electric Utility Senior unsecured notes 4.46% 4.36% 2029 - 2051 $ 6,271 $ 5,720 Canadi...
AI summary The document presents a detailed breakdown of long-term debt as of December 31, 2025, and 2024, including various types of debt, their weighted average interest rates, maturity dates, and amounts for different entities such as Florida Electric Utility, NSPI, PGS, and others. It also includes adjustments related to debt issuance costs and classifications.
Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder information Notes to the Consolidated Financial Statements
AI summary The text outlines the structure of financial and strategic documentation, including management's discussion and analysis, consolidated financial statements, and shareholder information, as well as notes to the financial statements.
31. Supplementary Information to Consolidated Statements of Cash Flows For the Year ended December 31 millions of dollars 2025 2024 Changes in non-cash working capital: Inventory $ (63) $ 38 Receivables and other current assets (703) (154)...
AI summary This section provides supplementary information to the consolidated statements of cash flows, detailing changes in non-cash working capital, cash paid for interest and income taxes, and non-cash activities such as dividends reinvested and accrued capital expenditures for the years ended December 31, 2025 and 2024.
Stock Option Plan: The Company has a stock option plan that grants options to senior management of the Company for a maximum term of 10 years. The exercise price of the stock options is the closing price of the Company's common shares on t...
AI summary Nova Scotia Power's Stock Option Plan grants options to senior management with specific vesting and exercise terms. Options vest in 20% increments over five years and expire if not exercised within 10 years. The plan limits the number of shares issued to any individual to 5% of outstanding shares. The company uses the Black-Scholes model for valuation and recognizes compensation expense over the vesting period.
The following table shows the weighted average FV per stock option along with the assumptions incorporated into the valuation models for options granted, for the year-ended December 31: 2025 2024 Weighted average FV per option $ 6.12 $ 4.6...
AI summary The table presents the weighted average fair value per stock option and associated assumptions for the years 2025 and 2024, including expected term, risk-free interest rate, expected dividend yield, and expected volatility.
2025 Annual Financial Statements Attachment 6 Page 132 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder info...
AI summary This document provides the 2025 Annual Financial Statements for Emera Incorporated, including sections such as Management's Discussion and Analysis, Consolidated Financial Statements, and Notes to the Consolidated Financial Statements. It also includes information on Emera's leadership and shareholder details.
A summary of the activity related to employee and director DSUs for the year ended December 31, 2025 is presented in the following table: Employee DSU Weighted Average Grant Date FV Director DSU Weighted Average Grant Date FV Outstanding a...
AI summary The document provides a summary of deferred share unit (DSU) activity for employees and directors of Nova Scotia Power for the year ended December 31, 2025, including outstanding units, grants, exercises, and related financial figures such as compensation costs and tax benefits.
Restricted Share Unit Plan: Under the RSU plan, certain executive and senior employees are eligible for long-term incentives payable through the plan. RSUs are granted annually for three-year overlapping performance cycles, resulting in a...
AI summary The Restricted Share Unit (RSU) plan provides long-term incentives to executive and senior employees, with RSUs granted annually over three-year performance cycles. Payouts are based on Emera's stock price and vest at the end of the cycle, with potential pro-rating in departure scenarios and full vesting for retirees.
A summary of the activity related to employee RSUs for the year ended December 31, 2025 is presented in the following table: Employee RSU Weighted Average Grant Date FV Aggregate intrinsic value Outstanding as at December 31, 2024 653,148...
AI summary The document outlines the activity related to employee RSUs for the year ended December 31, 2025, including the number of RSUs outstanding, granted, exercised, and forfeited, along with compensation costs, tax benefits, and cash payments associated with the RSU plan.
2025 Annual Financial Statements Attachment 6 Page 135 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder info...
AI summary This document provides the 2025 Annual Financial Statements for Emera Incorporated, including the Management's Discussion and Analysis (MD&A), consolidated financial statements, and notes to the consolidated financial statements. It is part of a larger set of financial documents and includes strategic overview and shareholder information.
ACCOUNT SEGMENT Account Segment Value Account Segment Description 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 lists various account segments and their descriptions, including petty cash funds, accounts receivable for different services and products, inventory items such as coal, biomass, and fuel, and other financial assets. These entries reflect the financial and operational structure of the organization.
Net Revenue per Statement of Earnings - 1) Figures presented reflect whole numbers which may cause $0.1M in rounding differences on some line items.
AI summary The text notes that figures presented in the Net Revenue per Statement of Earnings reflect whole numbers, which may result in rounding differences of up to $0.1M on some line items.
N-2Refiled Statements - NSPI - Redacted
93 passages
Regulated Operating, Maintenance and General For the Three months ended Year ended millions of Canadian dollars December 31 December 31 Actual Test Year Prior Year Actual Test Year Prior Year 2025 (1) 2024 2024 2025 2024 2024 Power Product...
AI summary The table presents financial data for Regulated Operating, Maintenance and General expenses for the three months and year ended December 31, 2025, comparing actual figures with test year and prior year figures. It includes various categories such as Power Production, Enterprise Asset Management, Environment, Customer Operations, and others.
Nova Scotia Power Inc. Regulated Return on Equity As at December 31 millions of Canadian dollars 2025 Regulated Regulated Equity Capitalization December 31, 2024 $2,147.6 $5,391.0 March 31, 2025 1,918.5 5,526.7 June 30, 2025 1,931.2 5,709....
AI summary The document provides financial data related to Nova Scotia Power Inc.'s regulated return on equity as of December 31, 2025, including equity capitalization, net earnings, and the calculated return on equity of 8.31%.
Nova Scotia Power Inc. Consolidated Statements of Changes in Equity millions of dollars Common Stock AOCI (AOCL) (1) Retained Earnings Total Equity Balance, December 31, 2024 $ 1,598 $ (8) $ 541 $ 2,131 Net income - - 141 141 Other compreh...
AI summary The document presents the consolidated statements of changes in equity for Nova Scotia Power Inc. for the years ending December 31, 2025, and 2024. It includes details such as net income, other comprehensive income, and return of capital, showing changes in common stock, accumulated other comprehensive income, and retained earnings.
The following reflects the composition of taxes on income from continuing operations presented in the Consolidated Statements of Income for the years ended December 31: millions of dollars 2025 2024 Federal Provincial Total Federal Provinc...
AI summary The text provides a detailed breakdown of taxes on income from continuing operations for the years ended December 31, 2025 and 2024, including current and deferred income taxes, operating loss carryforwards, and income tax recovery. It also outlines deferred income tax assets and liabilities, including tax loss carryforwards, ARO, and valuation allowances.
For the Year ended December 31 millions of dollars 2025 2024 Commodity Foreign Commodity Foreign swaps and exchange swaps and exchange forwards forwards forwards forwards Unrealized gain (loss) in regulatory assets $ (34) $ 1 $ (25) $ 5 Un...
AI summary The table presents financial details related to unrealized and realized gains and losses in regulatory assets and liabilities, as well as inventory and regulated fuel for generation and purchased power for the years 2025 and 2024. These figures are part of the analysis of derivative instruments.
A summary of the activity related to employee and director DSUs for the year ended December 31, 2025, is presented in the following table: Weighted Average Grant Date Fair Weighted Average Grant Date Fair Employee DSU Value Director DSU Va...
AI summary The document summarizes the activity related to employee and director Deferred Share Units (DSUs) for the year ended December 31, 2025, including changes in outstanding DSUs, compensation costs, tax benefits, intrinsic value, and cash payments made under the DSU plan.
A summary of the activity related to employee PSUs for the year ended December 31, 2025, is presented in the following table: Weighted Average Grant Aggregate Intrinsic Value Employee PSU Date Fair Value (millions of dollars) Outstanding a...
AI summary The document summarizes the activity related to employee Performance Share Units (PSUs) for the year ended December 31, 2025, including the number of PSUs outstanding, granted, exercised, forfeited, and transferred, along with compensation costs, tax benefits, and cash payments associated with the PSU plan.
Restricted Share Unit Plan Under the RSU plan, certain executive and senior employees are eligible for long-term incentives payable through the RSU plan. RSUs are granted annually for three-year overlapping cycles, resulting in a cash paym...
AI summary The Restricted Share Unit (RSU) plan provides long-term incentives to executive and senior employees through annual grants over three-year cycles. RSUs vest after three years and are based on the average stock price over fifty trading days. Payouts are determined by the MRCC and may be pro-rated in certain scenarios, with full vesting and payout continuing post-retirement as defined.
Consolidated Statements of Income For the Three months ended Year ended millions of dollars December 31 December 31 2025 2024 2025 2024 Operating revenues $ 504 $ 479 $ 1,944 $ 1,855 Fuel for generation and purchased power 269 (216) 1,065...
AI summary The consolidated statements of income show operating revenues of $504 million for the three months ended December 31, 2025, and $1,944 million for the year ended. Fuel costs and purchased power expenses increased, while income from operations decreased slightly. Net income for the three months ended was $22 million, compared to $71 million in the same period in 2024.
Highlights of the changes are summarized in the following table: For the Three months ended Year ended millions of dollars December 31 December 31 Net income – 2024 $ 71 $ 160 Increased operating revenues (refer to "Operating Revenues" sec...
AI summary The text outlines changes in financial metrics for a company over three months and a year, highlighting increased operating revenues and decreased net income, with specific factors such as increased fuel costs, cybersecurity incident expenses, and tax recovery changes impacting results.
NSPI's operating revenues include sales of electricity and other services as summarized in the following table: Three months ended Year ended For the December 31 December 31 millions of dollars 2025 2024 2025 2024 Electric revenues $ 495 $...
AI summary The document outlines NSPI's operating revenues, including electric and other revenues for the three months and year ended December 31, 2025 and 2024, with electric revenues showing an increase from 2024 to 2025.
Electric Sales Volume Three months ended Year ended For the December 31 December 31 Gigawatt hours ("GWh") 2025 2024 2025 2024 Residential 1,411 1,343 5,292 5,096 Commercial 766 763 3,084 3,046 Industrial 535 569 2,098 2,217 Other 57 57 23...
AI summary The text presents data on electric sales volume and electric revenues for the periods ending December 31, 2025, and December 31, 2024. It highlights changes in electric revenues due to factors such as increased electricity pricing, favorable weather, and changes in sales volumes across different sectors.
Production volumes by fuel type and average fuel cost are summarized in the following table: Three months ended Year ended For the December 31 December 31 GWh (except as indicated) 2025 2024 2025 2024 Coal 1,329 976 4,370 3,347 Natural gas...
AI summary The table summarizes production volumes by fuel type and average fuel costs for the periods ending December 31, 2025, and December 31, 2024. It shows a decrease in coal and natural gas production, an increase in renewables, and a significant over-recovery of fuel costs in Q4 2024 due to a refund received by NSPI.
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. Factors affecting cash generation include macroeconomic changes, fuel price fluctuations, regulatory decisions, environmental legislation, credit ratings, and weather patterns.
Significant changes in the Consolidated Statements of Cash Flows between the years ended December 31, 2025 and 2024 include: millions of dollars 2025 2024 Change Cash, beginning of period $ - $ 78 $ (78) Provided by (used in): Operating ca...
AI summary The Consolidated Statements of Cash Flows show significant changes between 2025 and 2024, including a decrease in operating cash flow before change in working capital, a decrease in cash from operating activities, and an increase in financing activities.
The following table sets forth selected annual consolidated financial information of the Company for the three years ended December 31: millions of dollars 2025 2024 2023 Operating revenues $ 1,944 $ 1,855 $ 1,671 Net income $ 141 $ 160 $...
AI summary The text presents a table with selected annual consolidated financial information of the Company for the years 2023, 2024, and 2025, including operating revenues, net income, total assets, and total long-term debt.
Voting Shares and Principal Holders Thereof Authorized Capital: 1. an unlimited number of Common Shares without nominal or par value; 2. an unlimited number of first preferred shares, issuable in series; and 3. an unlimited number of secon...
AI summary The document outlines the authorized capital structure of Nova Scotia Power Inc., including the voting shares issued and outstanding. It specifies the record date for determining shareholders entitled to vote and the voting procedures for the upcoming meeting.
Name Number of Common Shares Percentage Emera Incorporated Halifax, Nova Scotia 183,517,299 100% Common Shares are the only voting shares at this time. All voting shares of the Company are beneficially owned by Emera Incorporated (Emera)....
AI summary Emera Incorporated owns 100% of Nova Scotia Power Inc.'s common shares, which are the only voting shares. Nova Scotia legislation restricts ownership of voting shares by non-Emera shareholders to 15% and non-Canadian shareholders to 25%. Compliance with these restrictions may involve limiting voting, dividend, and transfer rights, and shareholders may need to provide a statutory declaration to verify share ownership and residency.
Pay Benchmarking Comparator Group (Applicable to President & CEO) Utilities Industry Comparators Alberta Electric System Operator FortisBC Inc. ENMAX Corporation Northland Power Inc. EPCOR Utilities Inc. Toronto Hydro Corp. Fortis Alberta...
AI summary The Pay Benchmarking Comparator Group for the President & CEO includes utilities industry comparators such as Alberta Electric System Operator, FortisBC Inc., ENMAX Corporation, and others. The comparator group for the CFO and CHRO is detailed in Emera's Management Information Circular, available on SEDAR+.
Nova Scotia Power Incorporated - Management Information Circular 2026 Corporate Objective Weight- ing (%) Result Payout (%) Customer Building a reputation for customer\nexperience Objectives included: Threshold: Achieve 2025 Customer First...
AI summary The document outlines Nova Scotia Power Incorporated's 2026 Management Information Circular, including corporate objectives and performance metrics. It covers customer experience, asset management, and financial goals, with a focus on achieving targets related to customer satisfaction, reliability improvements, and financial performance.
Name and position Salary ($) (1) Recovered in rates ($) Annual incentive payout ($)(2) PSU/RSU payout ($) (3) Value of perquisites & all other compensati on ($)(4) Recove -red in rates ($) Total 2025 Compensati- on (includ. PSU& RSU Payout...
AI summary The table outlines compensation details for key executives at Nova Scotia Power Inc. and Emera Inc., including salaries, recoverable amounts in rates, incentive payouts, and other compensation. Notably, a portion of Peter Gregg's salary was paid by Emera Inc. for environment and sustainability responsibilities and is not recoverable in rates.
Table of compensation excluding compensation securities Name and position Year Salary, consulting fee, retainer or commission ($) Bonus ($)(2) Committee or meeting fees ($) Value of perquisites ($)(3) Value of all other compensation ($)(4)...
AI summary This table outlines the compensation of key executives and board members of Nova Scotia Power Inc. (NSPI) for the years 2024 and 2025, excluding compensation securities. It includes details such as salary, bonuses, committee fees, perquisites, and other compensation.
- (2) The bonus figures provided reflect the short-term incentive paid to the executive in cash. For 2025, the payouts were based on the NSPI Scorecard result of 88.4 per cent and the Emera Scorecard result of 121.3 per cent. For 2024, the...
AI summary The text outlines executive compensation details, including short-term incentives, deferred share units, and perquisites. It specifies the performance-based payouts for 2024 and 2025, the allocation of compensation between cash and DSUs, and mentions corporate allocations for director fees. It also notes that certain executives did not receive compensation for their director roles in 2025.
The following table shows the compensation securities granted to each NEO and Director in 2025: Compensation Securities Name and position Type of compensation security Description Number of compensation securities, number of underlying sec...
AI summary The table outlines compensation securities, including Performance Share Units, Restricted Share Units, Stock Options, and Deferred Share Units, granted to NEOs and Directors of Nova Scotia Power Inc. in 2025. It includes the number of securities, issue prices, and expiry dates for each grant.
2025 Annual Financial Statements Attachment 4 Page 19 of 24 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Incorporated – Management Information Circular 2026 - (3) The value of the stock options granted to the NEOs in 2025...
AI summary This section discusses the valuation of stock options and deferred share units (DSUs) granted to executives and directors in 2025, including the methodology used, floor value ratios, and payout mechanisms. It also outlines compensation details for directors and the total holdings of compensation-related securities by executives and directors as of December 31, 2025.
The following table shows the compensation securities exercised by Directors and NEOs in 2025: Exercise of Compensation Securities by Directors and NEOs Name and position Type of compensation security Number of underlying securities exerci...
AI summary This table outlines the compensation securities exercised by Directors and NEOs in 2025, including Performance Share Units (PSUs) and Restricted Share Units (RSUs). The value of these units is based on the 2022 grants, with a three-year vesting period and a performance factor applied. The exercise price and closing price are provided, along with the total value on the exercise date.
The table below identifies how much each NEO elected to allocate their short-term incentive to DSUs for 2024 and 2025: 2025 2024 Name Percentage of annual incentive allocated to deferred share units (%) Dollar amount of annual incentive al...
AI summary The table shows how much each Named Executive Officer (NEO) allocated their short-term incentive to Deferred Share Units (DSUs) for the years 2024 and 2025. Greg Blunden allocated 50% of his incentive to DSUs in both years, while Peter Gregg and Michael Roberts allocated none.
Name Departure scenario (1) Cash severance ($) Short-term incentive ($) Performance share units ($) (2) Restricted share units ($)(2) Stock options ($) (3) Continuation of benefits (present value) ($) (4) Total ($) Peter Gregg Resignation...
AI summary The table outlines the financial entitlements for Peter Gregg under various departure scenarios, including termination without cause and change of control, with amounts for cash severance, short-term incentives, performance share units, restricted share units, stock options, and continuation of benefits.
2025 Annual Financial Statements Attachment 5 Page 1 of 26 REDACTED (CONFIDENTIAL INFORMATION REMOVED)
AI summary The document is a redacted page from the 2025 Annual Financial Statements Attachment 5, which contains confidential information. It appears to be part of a regulatory or financial disclosure process involving Nova Scotia Power or a related entity.
Revenue and Electricity Sales Volumes by Customer Class For the years ended Electric Revenues (%) GWh Electric Sales Volumes (%) December 31 2025 2024 2025 2024 Residential 56.2% 55.0% 49.4% 48.2% Commercial 27.4% 27.5% 28.8% 28.8% Industr...
AI summary The table presents revenue and electricity sales volumes by customer class for the years ended December 31, 2025, and 2024. Residential customers account for the largest share of both revenue and sales volume, followed by commercial, industrial, and other categories.
The following information is provided for each Director of NSPI as at December 31, 2025: Name and Residence Director Since (1) Principal Occupations During Past Five Years Scott C. Balfour Halifax, Nova Scotia, Canada 2016 A Director and P...
AI summary This document provides information about the directors of Nova Scotia Power Inc. (NSPI) as of December 31, 2025, including their names, residences, tenure, and professional backgrounds, particularly their roles in energy and infrastructure-related organizations.
Rate-Regulated Subsidiary or Equity Investment Accounting Policies Approved/Examined By Subsidiary Tampa Electric Company ("TEC") Florida Public Service Commission ("FPSC") and the Federal Energy Regulatory Commission ("FERC") Nova Scotia...
AI summary The document outlines various rate-regulated subsidiaries and equity investments, detailing the regulatory bodies that have approved or examined their accounting policies. It also notes the currency used for reporting financial information, with most amounts in Canadian dollars and some sections in U.S. dollars.
2025 Annual Financial Statements Attachment 6 Page 14 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board
AI summary This section provides an overview of the 2025 Annual Financial Statements, including management's discussion and analysis, consolidated financial statements, and information about Emera's leadership and board.
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 utilizes non-GAAP financial measures and ratios, which are adjusted from GAAP measures for specific items. These measures lack standardized definitions under USGAAP and may not be comparable to similar measures from other entities. The document provides a discussion and reconciliation of these measures and ratios.
Consolidated Financial Highlights For the millions of dollars Three months ended December 31 Year ended December 31 Adjusted net income 2025 2024 2025 2024 2023 Florida Electric Utility $ 119 $ 120 $ 845 $ 644 $ 627 Canadian Electric Utili...
AI summary This table presents consolidated financial highlights, including adjusted net income, MTM gains and losses, and other financial charges for various utility segments and overall net income attributable to common shareholders over multiple years.
The following table highlights significant changes in adjusted net income from 2024 to 2025: For the millions of dollars Three months ended December 31 Year ended December 31 Adjusted net income – 2024 $ 246 $ 849 Operating Unit Performanc...
AI summary This text presents a table showing changes in adjusted net income and cash flow from 2024 to 2025, including factors like revenue growth, operating expenses, interest expenses, and asset changes. Adjusted net income increased slightly in 2025 compared to 2024, with variations attributed to factors such as base rate changes, weather conditions, and operational costs.
Consolidated Income Statement Highlights For the Three months ended December 31 Year ended December 31 Year ended December 31 millions of dollars (except per share amounts) 2025 2024 Variance 2025 2024 Variance 2023 Operating revenues $ 2,...
AI summary The consolidated income statement highlights show an increase in operating revenues and income from operations for both the three months and year ended December 31, 2025, compared to 2024. However, net income attributable to common shareholders decreased in both periods. Adjusted net income and EBITDA show positive growth, indicating improved financial performance after adjustments.
Florida Electric Utility For the Three months ended December 31 Year ended December 31 millions of USD (except as indicated) 2025 2024 2025 2024 Operating revenues – regulated electric $ 706 $ 582 $ 3,115 $ 2,526 Regulated fuel for generat...
AI summary The document presents financial data for Florida Electric Utility, including operating revenues, regulated fuel costs, and contributions to adjusted net income for the periods ending December 31, 2025 and 2024. Key figures include operating revenues of $706 million and $582 million for the three months ended December 31, 2025 and 2024, respectively, and average fuel costs of $31 per MWh for both periods.
Highlights of net income changes are summarized in the following table: For the millions of USD Three months ended December 31 Year ended December 31 Contribution to consolidated net income – 2024 $ 83 $ 468 Increased operating revenues, p...
AI summary The document highlights changes in net income, showing an increase in operating revenues due to factors such as storm cost recovery revenue, new base rates, and customer growth, though partially offset by unfavourable weather. There are also increases in fuel costs, OM&G, depreciation, interest expense, and taxes, with some offsets from regulatory deferrals and tax credits.
Annual electric revenues and sales volumes are summarized in the following table by customer class: Electric Revenues (millions of USD) Electric Sales Volumes (Gigawatt hours ("GWh")) 2025 2024 2025 2024 Residential $ 1,786 $ 1,507 10,309...
AI summary The table summarizes annual electric revenues and sales volumes by customer class for 2024 and 2025, showing increases in both revenue and sales volumes across all classes, with residential, commercial, industrial, and other categories contributing to the total.
Annual electric revenues and sales volumes are summarized in the following tables by customer class: Electric Revenues (millions of dollars) Electric Sales Volumes (GWh) 2025 2024 2025 2024 Residential $ 1,073 $ 997 5,292 5,096 Commercial...
AI summary The text summarizes annual electric revenues and sales volumes by customer class for 2025 and 2024. It includes data for residential, commercial, industrial, and other customer classes, with totals provided for each year.
2025 Annual Financial Statements Attachment 6 Page 33 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board
AI summary The text introduces the 2025 Annual Financial Statements Attachment 6, highlighting key sections such as the Strategic Overview, Management's Discussion and Analysis, Consolidated Financial Statements, and information about Emera Leadership and the Board.
Shareholder information For the Three months ended December 31 Year ended December 31 millions of USD (except as indicated) 2025 2024 2025 2024 Operating revenues – regulated gas (1) $ 327 $ 317 $ 1,235 $ 1,160 Operating revenues – non-reg...
AI summary The table presents shareholder information for a company, including operating revenues from regulated and non-regulated gas operations, regulated cost of natural gas, and contributions to consolidated adjusted net income for the periods ending December 31, 2025 and 2024. It also includes charges related to the pending sale of NMGC and contributions to consolidated net income in USD and CAD.
Gas Utilities and Infrastructure's contribution to consolidated adjusted net income is summarized in the following table: For the Three months ended December 31 Year ended December 31 millions of USD 2025 2024 2025 2024 PGS $ 31 $ 28 $ 117...
AI summary Gas Utilities and Infrastructure's contribution to consolidated adjusted net income is summarized in a table showing figures for 2025 and 2024, with PGS, NMGC, and Other contributing to the total. The impact of FX rate changes on CAD earnings was minimal for the three months ended December 31, 2025, and increased CAD earnings by $7 million for the year ended December 31, 2025.
Annual gas revenues and sales volumes are summarized in the following tables by customer class: Gas Revenues (millions of USD) Gas Volumes (millions of Therms) 2025 2024 2025 2024 Residential $ 548 $ 520 394 410 Commercial 377 362 875 824...
AI summary The document presents annual gas revenues and sales volumes by customer class for 2024 and 2025, showing figures for residential, commercial, industrial, and other categories, with total revenues and volumes for each year.
Other Electric Utilities For the Three months ended December 31 Year ended December 31 millions of USD (except as indicated) 2025 2024 2025 2024 Operating revenues – regulated electric $ 102 $ 107 $ 413 $ 413 Regulated fuel for generation...
AI summary The text presents financial data for Other Electric Utilities, including operating revenues, regulated fuel costs, and contributions to adjusted net income for the periods ending December 31, 2025, and 2024. The impact of foreign exchange rate changes on CAD earnings and adjusted net income was minimal during these periods.
Other Electric Utilities' contribution to consolidated adjusted net income is summarized in the following table: For the Three months ended December 31 Year ended December 31 millions of USD 2025 2024 2025 2024 BLPC $ 7 $ 13 $ 19 $ 27 GBPC...
AI summary The table summarizes the contribution of Other Electric Utilities to consolidated adjusted net income for the three months and year ended December 31, 2024 and 2025. BLPC, GBPC, and Other utilities contributed varying amounts to the net income during these periods.
Other's contribution to consolidated adjusted net (loss) income is summarized in the following table: For the Three months ended December 31 Year ended December 31 millions of dollars 2025 2024 2025 2024 Emera Energy: EES $ 33 $ 16 $ 80 $...
AI summary The text provides a summary of 'Other's contribution to consolidated adjusted net (loss) income' for the periods ending December 31, 2024 and 2025, with figures showing a net loss for both periods. Key entities include Emera Energy, Block Energy, and various financial components such as EES and corporate contributions.
Highlights of net income (loss) changes are summarized in the following table: For the millions of dollars Three months ended December 31 Year ended December 31 Contribution to consolidated net (loss) income – 2024 $ (146) $ (686) Increase...
AI summary The table highlights changes in net income (loss) for the periods indicated, with key factors including increased marketing and trading margins due to favorable weather conditions, decreased equity earnings due to an unplanned outage, increased interest expenses, and various charges and gains related to asset sales and wind-down costs.
The Company recognized income related to guaranteed debt under the following categories: For the Year ended December 31 millions of dollars 2025 2024 Loss from operations $ (145) $ (279) Net gains (1) $ 168 $ 442 (1) Includes $1,143 millio...
AI summary The Company recognized income related to guaranteed debt, with a loss from operations of $145 million in 2025 and $279 million in 2024, along with net gains of $168 million in 2025 and $442 million in 2024. The net gains include interest and dividend income from non-guarantor subsidiaries.
The Company has the following categories on the balance sheet related to guaranteed debt: As at December 31 millions of dollars 2025 2024 Current assets (1) $ 373 $ 391 Goodwill 5,580 5,858 Other assets (2) 5,259 6,474 Total assets (3) $ 1...
AI summary The Company's balance sheet shows changes in current and long-term liabilities related to guaranteed debt, with a decrease in total assets and an increase in total liabilities between 2024 and 2025.
Common Stock Issued and outstanding: millions of shares millions of dollars Balance, December 31, 2024 295.94 $ 9,042 Conversion of Convertible Debentures 0.02 1 Issuance of common stock under ATM program (1) 0.19 9 Issued under the DRIP,...
AI summary The document outlines the changes in common stock issued and outstanding for Emera Inc. from December 31, 2024, to December 31, 2025, including conversions, issuances under the ATM program, DRIP, and stock options exercised. The ATM program issued 187,600 shares at an average price of $53.58 per share, with $10 million in gross proceeds.
Derivative Assets and Liabilities Recognized on the Balance Sheet As at millions of dollars December 31 2025 December 31 2024 Regulatory Deferral: Derivative instrument assets (1) $ 24 $ 45 Derivative instrument liabilities (2) (34) (40) R...
AI summary The document presents a comparison of derivative assets and liabilities recognized on the balance sheet as of December 31, 2025, and December 31, 2024. It includes regulatory deferral, HFT derivatives, and other derivatives, showing changes in asset and liability values over the period.
2025 2024 Discount rate for benefit cost purposes Expected return on plan assets Discount rate for benefit cost purposes Expected return on plan assets TECO Holdings Group Retirement Plan 5.66% 7.05% 5.27% 7.05% TECO Holdings Group Supplem...
AI summary The table presents discount rates and expected returns on plan assets for various retirement and benefit plans in 2025 and 2024, including TECO Holdings Group, NSPI, and GBPC. The data includes different rates for specific plans and notes that discount rates are updated annually based on special events.
Consolidated Statements of Income For the Year ended December 31 millions of dollars (except per share amounts) 2025 2024 Operating revenues Regulated electric $ 6,858 $ 5,872 Regulated gas 1,713 1,575 Non-regulated 205 (247) Total operati...
AI summary The consolidated statements of income for 2025 and 2024 show significant increases in operating revenues and income from operations, with regulated electric and gas revenues and income from operations rising notably. Net income also increased from 2024 to 2025, reflecting changes in operating expenses and income from equity investments.
Consolidated Statements of Comprehensive Income For the Year ended December 31 millions of dollars 2025 2024 Net income $ 1,090 $ 568 Other comprehensive income (loss) ("OCI"), net of tax Foreign currency translation adjustment (1) (623) 1...
AI summary The consolidated statements of comprehensive income show a significant increase in net income from $568 million in 2024 to $1,090 million in 2025. Other comprehensive income (OCI) decreased from $956 million in 2024 to $388 million in 2025, primarily due to a foreign currency translation adjustment and changes in pension obligations.
Consolidated Balance Sheets As at millions of dollars December 31 2025 December 31 2024 Assets Current assets Cash and cash equivalents $ 349 $ 196 Restricted cash 16 17 Inventory (note 15) 821 781 Derivative instruments (notes 16 and 17)...
AI summary The consolidated balance sheets present the financial position of the company as of December 31, 2025, and December 31, 2024, showing increases in cash, inventory, and receivables, along with changes in regulatory and deferred tax assets.
The accompanying notes are an integral part of these consolidated financial statements. Approved on behalf of the Board of Directors "Karen Sheriff" "Scott Balfour" Chair of the Board President and Chief Executive Officer Management's Disc...
AI summary The document includes the consolidated financial statements of Emera, with management's discussion and analysis, and information related to leadership and shareholders. Key figures and approvals are highlighted, including statements approved on behalf of the Board of Directors.
Foreign Currency Translation Monetary assets and liabilities denominated in foreign currencies are converted to CAD at the rates of exchange prevailing at the balance sheet date. The resulting differences between the translation at the ori...
AI summary The text discusses the translation of foreign currency assets and liabilities into CAD, including the treatment of exchange differences in income and AOCI, and the designation of USD debt as hedges for foreign operations.
millions of dollars Florida Electric Utility Canadian Electric Utilities Gas Utilities and Infrastructure Other Electric Utilities Other Inter Segment Eliminations Total For the year ended December 31, 2025 Operating revenues from $ 4,336...
AI summary The document presents financial data for various utility companies, including operating revenues, regulated fuel costs, and capital expenditures. It includes details on segment performance and consolidated financial figures for the year ended December 31, 2025.
Notes to the Consolidated Financial Statements millions of dollars Florida Electric Utility Canadian Electric Utilities Gas Utilities and Infrastructure Other Electric Utilities Other Inter Segment Eliminations Total For the year ended Dec...
AI summary The document presents financial data for various segments of the company, including operating revenues, costs, and capital expenditures. It also details asset values and investments, highlighting regulated and non-regulated operations.
The following disaggregates the Company's revenue by major source: Electric Gas Other Florida Canadian Other Gas Inter millions of dollars Electric Utility Electric Utilities Electric Utilities Utilities and Infrastructure Other Segment El...
AI summary The document provides a detailed breakdown of the Company's revenue by source, including regulated and non-regulated revenue across different sectors such as residential, commercial, and industrial, for the years 2025 and 2024. It highlights changes in revenue figures and includes notes on regulatory deferrals and other income sources.
Emera's net operating loss ("NOL"), capital loss and tax credit carryforwards and their expiration periods as at December 31, 2025 consisted of the following: millions of dollars Tax Carryforwards Subject to Valuation Allowance Net Tax Car...
AI summary The document provides details on Emera's net operating loss, capital loss, and tax credit carryforwards as of December 31, 2025, including their expiration periods and amounts subject to valuation allowances.
Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder information Notes to the Consolidated Financial Statements
AI summary The text outlines sections of a financial report including Strategic Overview, Management's Discussion and Analysis, Consolidated Financial Statements, Emera Leadership and Board, Shareholder information, and Notes to the Consolidated Financial Statements.
13. Earnings Per Share Basic earnings per share is determined by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net...
AI summary The section explains the calculation of basic and diluted earnings per share, detailing how net income is divided by weighted average common shares, with diluted EPS considering additional factors like stock options, convertible debentures, and shares from the DRIP.
The following table reconciles the computation of basic and diluted earnings per share: For the Year ended December 31 millions of dollars (except per share amounts) 2025 2024 Numerator Net income attributable to common shareholders $ 1,01...
AI summary This document presents a table reconciling the computation of basic and diluted earnings per share for the years ended December 31, 2025 and 2024, showing net income and weighted average shares outstanding.
The components of AOCI are as follows: millions of dollars Unrealized gain (loss) on translation of self-sustaining foreign operations Net change in net investment hedges Gains (losses) on derivatives recognized as cash flow hedges Net cha...
AI summary The text presents financial data related to the components of Accumulated Other Comprehensive Income (AOCI) for the years ended December 31, 2025 and 2024, including unrealized gains and losses, changes in investment hedges, and reclassifications. It also provides inventory details for materials and fuel as of December 31, 2025 and 2024.
The Company has recorded the following changes with respect to derivatives receiving regulatory deferral: millions of dollars Commodity swaps and forwards FX forwards Commodity swaps and forwards FX forwards For the year ended December 31...
AI summary The Company has recorded changes in derivatives receiving regulatory deferral, including unrealized and realized gains and losses in regulatory assets and liabilities, as well as changes in inventory and regulated fuel for generation and purchased power.
The Company has recognized the following realized and unrealized gains with respect to HFT derivatives: For the Year ended December 31 millions of dollars 2025 2024 Power swaps and physical contracts in non-regulated operating revenues $ 4...
AI summary The Company has recognized realized and unrealized gains from HFT derivatives in non-regulated operating revenues for 2025 and 2024, with significant gains from natural gas swaps and power contracts. Outstanding HFT derivatives are expected to settle over the next several years, with notable volumes of natural gas purchases and sales.
For the Year ended December 31 millions of dollars 2025 2024 Equity FX Forwards Derivatives FX Forwards Equity Derivatives Unrealized gain (loss) in OM&G $ — $ 8 $ — $ (2) Unrealized gain (loss) in other income, net 39 — (44) — Realized ga...
AI summary The table presents financial data for 2025 and 2024, including unrealized and realized gains and losses in OM&G and other income. The section on credit risk suggests a focus on financial risk management, though no details are provided.
Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder information
AI summary The text outlines sections of a financial report, including a strategic overview, management's discussion and analysis, consolidated financial statements, leadership and board information, and shareholder details. It provides a high-level view of the company's operations and financial health.
Additional information related to Emera's leases is as follows: For the millions of dollars (except as indicated) Year ended December 31 2025 Year ended December 31 2024 Operating Leases Finance Leases Operating Leases Finance Leases Cash...
AI summary This section provides detailed financial information on Emera's leases, including cash paid for lease liabilities, right-of-use assets, and weighted average lease terms and discount rates for both operating and finance leases for the years ended December 31, 2025 and 2024.
The total net investment in direct finance and sales-type leases consist of the following: As at millions of dollars December 31 2025 December 31 2024 Total minimum lease payment to be received $ 1,180 $ 1,310 Less: amounts representing es...
AI summary The text presents financial data on the net investment in direct finance and sales-type leases as of December 31, 2025, and 2024. It includes details such as total minimum lease payments, estimated residual values, credit loss reserves, and unearned finance lease income. The data is organized in tables and includes future minimum lease payments for the next five years and beyond.
The aggregate financial position for pension plans where the PBO or APBO (for post-retirement benefit plans) exceeded the plan assets for the years ended December 31 were as follows: millions of dollars 2025 2024 DB pension plans Non-pensi...
AI summary The text provides data on the financial position of pension plans in Nova Scotia, showing that the projected benefit obligation (PBO) or accumulated benefit obligation (ABO) exceeded the fair value of plan assets in 2025 and 2024, indicating underfunded status for both defined benefit (DB) pension plans and non-pension benefit plans.
The amounts recognized in the Consolidated Balance Sheets consisted of the following: As at millions of dollars December 31 2025 December 31 2024 DB pension plans Non-pension benefit plans DB pension plans Non-pension benefit plans Other c...
AI summary The text provides details on the amounts recognized in the Consolidated Balance Sheets as of December 31, 2025, and December 31, 2024, including liabilities, assets, and other financial items. It also notes the classification of NMGC's assets and liabilities as held for sale following an agreement announced in August 2024.
2025 Annual Financial Statements Attachment 6 Page 117 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder info...
AI summary This document is the 2025 Annual Financial Statements Attachment 6, which includes sections such as the Strategic Overview, Management's Discussion and Analysis, Consolidated Financial Statements, and Notes to the Consolidated Financial Statements. It is marked as REDACTED (CONFIDENTIAL INFORMATION REMOVED).
The following tables set out the classification of the methodology used by the Company to FV its investments (for more information on the FV hierarchy and measurement, refer to note 17): millions of dollars NAV Level 1 Level 2 Total Percen...
AI summary The text presents two tables outlining the classification of the methodology used by the Company to fair value (FV) its investments as of December 31, 2025, and December 31, 2024. The tables detail the distribution of assets across various categories, including cash, equity and fixed income securities, and open-ended investments measured at NAV.
The change in goodwill for the year ended December 31 was due to the following: millions of dollars 2025 2024 Balance, January 1 $ 5,858 $ 5,871 Change in FX rate (278) 504 Impairment charges — (214) Classified as assets held for sale (1)...
AI summary The change in goodwill for the year ended December 31 was influenced by factors such as changes in foreign exchange rates, impairment charges, and the classification of NMGC's assets as held for sale following Emera's announcement of a sale agreement for NMGC.
24. Short-Term Debt Emera's short-term borrowings consist of commercial paper issuances, advances on revolving and non-revolving credit facilities and short-term notes. Short-term debt and the related weighted-average interest rates as at...
AI summary This section outlines Emera's short-term debt, which includes commercial paper, advances on credit facilities, and short-term notes, along with their weighted-average interest rates as of December 31.
2025 Annual Financial Statements Attachment 6 Page 120 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder info...
AI summary This document is the 2025 Annual Financial Statements Attachment 6, which includes a strategic overview, management's discussion and analysis, consolidated financial statements, information about Emera's leadership and board, shareholder information, and notes to the consolidated financial statements. The content is redacted due to confidentiality.
2025 Annual Financial Statements Attachment 6 Page 122 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder info...
AI summary This document is the 2025 Annual Financial Statements Attachment 6, which includes sections such as the Strategic Overview, Management's Discussion and Analysis, Consolidated Financial Statements, Emera Leadership and Board, Shareholder information, and Notes to the Consolidated Financial Statements. The content is redacted and marked as confidential.
31. Supplementary Information to Consolidated Statements of Cash Flows For the Year ended December 31 millions of dollars 2025 2024 Changes in non-cash working capital: Inventory $ (63) $ 38 Receivables and other current assets (703) (154)...
AI summary This section provides supplementary information to the consolidated statements of cash flows, detailing changes in non-cash working capital, cash paid for interest and income taxes, and non-cash activities such as common share dividends reinvested and changes in accrued capital expenditures.
Stock Option Plan: The Company has a stock option plan that grants options to senior management of the Company for a maximum term of 10 years. The exercise price of the stock options is the closing price of the Company's common shares on t...
AI summary The Company's Stock Option Plan grants options to senior management with specific vesting and exercise terms. Options vest in 20% increments over five years and expire if not exercised within 10 years. The plan limits the number of shares issuable to any individual to 5% of outstanding shares. The Company uses the Black-Scholes model to estimate compensation expenses for stock-based compensation.
The following table shows the weighted average FV per stock option along with the assumptions incorporated into the valuation models for options granted, for the year-ended December 31: 2025 2024 Weighted average FV per option $ 6.12 $ 4.6...
AI summary The table presents the weighted average fair value per stock option and related assumptions for the years 2025 and 2024, including expected term, risk-free interest rate, dividend yield, and volatility.
2025 Annual Financial Statements Attachment 6 Page 132 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder info...
AI summary The document is a redacted portion of the 2025 Annual Financial Statements, including sections such as the Strategic Overview, Management's Discussion and Analysis, Consolidated Financial Statements, Emera Leadership and Board, Shareholder information, and Notes to the Consolidated Financial Statements.
The following table summarizes stock option information for 2025: Total Options Non-Vested Options(1) Number of Options Weighted average exercise price per share Number of Options Weighted average grant date fair-value Outstanding as at De...
AI summary The table provides a summary of stock option information for 2025, including the number of options outstanding, granted, exercised, and forfeited, along with weighted average exercise prices and fair values. It also notes the amount of unrecognized compensation related to unvested options.
A summary of the activity related to employee and director DSUs for the year ended December 31, 2025 is presented in the following table: Employee DSU Weighted Average Grant Date FV Director DSU Weighted Average Grant Date FV Outstanding a...
AI summary The document outlines the activity related to employee and director Deferred Share Units (DSUs) for the year ended December 31, 2025, including outstanding DSUs, grants, exercises, and compensation costs. It also highlights tax benefits, intrinsic values, and cash payments associated with the DSU plan.
Restricted Share Unit Plan: Under the RSU plan, certain executive and senior employees are eligible for long-term incentives payable through the plan. RSUs are granted annually for three-year overlapping performance cycles, resulting in a...
AI summary The RSU plan provides long-term incentives for executives and senior employees, with RSUs granted annually over three-year performance cycles. Payouts are based on Emera's stock price and vest at the end of the cycle, with potential adjustments for retirement or departure scenarios.
A summary of the activity related to employee RSUs for the year ended December 31, 2025 is presented in the following table: Employee RSU Weighted Average Grant Date FV Aggregate intrinsic value Outstanding as at December 31, 2024 653,148...
AI summary The document summarizes the activity related to employee RSUs for the year ended December 31, 2025, including outstanding RSUs, grants, exercises, forfeitures, and compensation costs. Compensation cost recognized for the RSU plan was $23 million in 2025, with tax benefits of $6 million and cash payments of $11 million.
2025 Annual Financial Statements Attachment 6 Page 135 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder info...
AI summary This document is a redacted page from the 2025 Annual Financial Statements of Emera, including sections such as the Strategic Overview, Management's Discussion and Analysis, and Notes to the Consolidated Financial Statements. It is part of a larger financial reporting package.
ACCOUNT SEGMENT Account Segment Value Account Segment Description 415920 REG TIME OF USE REAL TIME PRICE 415960 REG GRLF REPLACEMENT LOAD FOLLOWING DSM COST 415970 REG GRLF REPLACEMENT LOAD FOLLOWING DSM BA COST 415980 REG TIME OF USE REAL...
AI summary The text presents a list of account segments related to regulatory accounting, including categories such as time-of-use pricing, demand-side management (DSM) costs, fuel adjustment mechanisms, and municipal charges. These segments appear to be used for financial tracking and regulatory reporting purposes.
- 2) Allowance for materials and supplies is the ending balance as at December 31. No. Gross Book Value, Asset Additions Accest Transfers Accet Betiremente Total Bassaya baginning Asset Retirements Depreciation & Salvage & Cost of Reclassi...
AI summary The text refers to the Allowance for materials and supplies as the ending balance as of December 31, and includes a table with various financial and asset-related terms, such as Gross Book Value, Asset Additions, Depreciation, and Asset Retirement Obligations.
2025 Annual Financial Statements Attachment 16.2 Page 1 of 1 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Application of Amounts Year Regulated Net Earnings Above Section 21 FAM Fixed Cost Income Approved ROE Amortization1 Deferral Range ($...
AI summary The table presents financial data related to the application of amounts under Section 21, including regulated net income, earnings above approved ROE, and amortization. It explains how the Section 21 mechanism allowed NS Power to accelerate amortization of a deferred tax liability, affecting earnings above the approved ROE range for certain years.
N-3Additional Submissions Financial Statements - Redacted
52 passages
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 3 of 182 NSPI - 2025 - T2.225
AI summary The document is a redacted submission related to the 2025 Annual Financial Statements of NSPI, referencing a specific submission number (NSPI - 2025 - T2.225).
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 5 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Canada Revenue Agency NSPI - 2025 - T2.225 ue Agence du revenu du Canada Nova Scoti...
AI summary This document is an attachment to the 2025 Annual Financial Statements of Nova Scotia Power Incorporated, submitted to the Canada Revenue Agency. It includes a Docusign Envelope ID and a tax form number.
NSPI - 2025 - T2.225 2026 Docusian Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001 , SMITH CHRISTOPHER EVP Finance Legal & I Regulatory Last name First name Position, office, or title and...
AI summary This document contains a T2 Corporation Income Tax Return submission by Nova Scotia Power Incorporated, including a certification by Christopher Smith, EVP Finance Legal & I, confirming the accuracy of the information provided. The document includes contact details and a signature from an authorized officer.
nual Financial Statements Additional Submissions Attachment 1 Page 8 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 ova Scotia Power Incorporated 11931 4938 RC0001
AI summary This text contains a page reference from a 2026 Docusign envelope and a company identifier for Nova Scotia Power Incorporated, along with some numerical codes. It is part of a submission related to annual financial statements.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 11 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654
AI summary The document contains a redacted page from the 2025 Annual Financial Statements of Nova Scotia Power Incorporated (NSPI), including a Docusign Envelope ID for a submission related to 2026.
11931 4938 RC0001 pecified corporate income and assignment under subsecti on 125(3.2) income referred to in column M in respect of that CCPC and B is the portion of the amoun t described in A that is deductible by you in respect of the
AI summary The text appears to be an excerpt from a regulatory proceeding document, focusing on financial and accounting-related matters, specifically involving corporate income, deductions, and regulatory frameworks.
NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Summary of tax and credits —— the information given on this return is, to the t ration. I certify that I have examined this return, including accepts of m...
AI summary This document is a tax return summary for NSPI for the year ending June 30, 2026. It includes a certification that the return has been examined and is correct and complete. The return includes information on taxes and credits, and the language of correspondence is set to English.
Schedule of Instalment Remittances Name of corporation contact Rebecca Mi tchell Telephone number (902) 428-7 7166 Effective interest date Description (instalment remittance, split payment, assessed credit) Amount of credit Instalment Ren...
AI summary The document presents a schedule of instalment remittances, including contact information, tax details, and financial figures related to instalments claimed and credited for a taxation year. The text contains partially redacted financial data and references to tax forms such as T2 and T9.
3849 = 681,462,883 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 GENERAL INDEX OF FINANCIAL INFORMATION - GIFI Canada Revenue Agency Form id...
AI summary This document contains a general index of financial information (GIFI) from Nova Scotia Power Incorporated, including retained earnings/deficit data as of December 31, 2025, and references to Canada Revenue Agency Form 100.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 19 of 182 11931 4938 RC0001 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 2025-12-31 Nova Scotia Power Incorporated 11931 4938 RC0001 \ Co...
AI summary This document is a submission related to the 2025 Annual Financial Statements of Nova Scotia Power Incorporated, including a Docusign Envelope ID and a Canada Revenue Agency schedule for the tax year ending December 31, 2025.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 21 of 182 REDACTED (CONFIDENTIAL INFORMATION REMOVED) "!# Corporation's name Business number Tax year end Year Month Day Nova Scotia Power Incorporated 1193...
AI summary The document provides the general index of financial information notes for Nova Scotia Power Incorporated's 2025 Annual Financial Statements. It includes the corporation's name, business number, and tax year end, but the rest of the content is redacted and confidential.
GENERAL INDEX OF FINANCIAL INFORMATION - GIFI Form identifier r 100 Name of corp poration Business Number Tax year-end Year Month Day Nova Scoti a Power Incorporated 11931 4938 RC0001 2025-12-31 Assets – I ines 1000 to 2599 1000 1060 556,1...
AI summary The document presents the General Index of Financial Information (GIFI) for Nova Scotia Power Incorporated, detailing financial data including assets, liabilities, equity, and retained earnings for the tax year ending December 31, 2025.
Schedule 1 Corporation's name Business number Tax year-end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 - Use this schedule to reconcile the corporation's net income (loss) as reported on the financial stateme...
AI summary Schedule 1 provides a reconciliation of Nova Scotia Power Incorporated's net income (loss) as reported on its financial statements and for tax purposes. It includes the corporation's name, business number, and tax year-end, and refers to Guide T4012 for further information.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 26 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001 \ Canada Rev...
AI summary The document is a page from the 2025 Annual Financial Statements Additional Submissions by Nova Scotia Power Incorporated, with a Docusign Envelope ID and reference to the Canada Revenue Agency Schedule 130.
Nova Scotia Power Incorporated 11931 4938 RC0001 e corporation incurred any amounts for a bo ction 18.2(1)? rrowing or other financir Yes X No Canadian Non-resid arm's length non-arm's length lent arm's length amounts of borrowing or other...
AI summary The document contains a table from a regulatory proceeding involving Nova Scotia Power Incorporated, detailing financial information related to borrowing and financing activities, including notional amounts of derivatives, amounts included in variable A of IFE, and other related financial figures.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 31 of 182 NSPI - 2025 - T2.225 2026 Docusian Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power incorporated 11931 4938 RC0001 ¬ Part 2D –...
AI summary This document presents a section of Nova Scotia Power Incorporated's (NSPI) 2025 Annual Financial Statements, focusing on Part 2D – Interest and financing revenues (IFR), including various components such as interest received, lease financing, and partnership shares. The text outlines calculations for variable A and variable B, which are used to determine the total IFR for the year.
ova Scotia Power Incorporated 11931 4938 RC0001 1 2 3 4 5 6 Row Name of CFA Amounts determined for variable A in the definition of IFE for the affiliate Proportion determined under subsection 18.2(2) Amount G in Part 2K % Denied amount und...
AI summary The text provides a table with various financial and tax-related calculations, including amounts determined for variable A in the definition of IFE, proportions under subsection 18.2(2), denied amounts, and the corporation's share of denied amounts. The table includes references to tax years, percentages, and specific tax-related clauses.
88,878 n. Droforrad a share and debt issu o costs - 2021 is applicable in the taxation year Description Subparagraph 20(1)(e)(v) is applicable in the 2023-12-31 on: Preferred s amount 2,931,175 share and debt issu A Expense deductible\nin...
AI summary The text provides a table related to share and debt issuance expenses, including amounts deductible in preceding taxation years, annual expenses, and calculations for the annual deduction. It outlines the balance before the annual expense and the deduction amount for the year ending December 31, 2023.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 42 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 lova Scotia Power Incorporated 11931 4938 RC0001 \ Canada Revenue Agency ie Agence...
AI summary This document is a page from the 2025 Annual Financial Statements Additional Submissions by Nova Scotia Power Incorporated, with a Docusign Envelope ID and reference to the Canada Revenue Agency. It appears to be part of a regulatory submission process.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 53 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654
AI summary This document is a redacted page from the 2025 Annual Financial Statements of NSPI, including a T2.225 form and a Docusign Envelope ID. It is part of an additional submission and is page 53 of 182.
2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 NSPI - 2025 - T2.225 • N REMOVED)\nubmissions Attachment 1 Page 60 of 1 32
AI summary The document is a submission related to a regulatory proceeding involving Nova Scotia Power Inc. (NSPI) and includes a Docusign Envelope ID, indicating a formal submission process. The content appears to be part of a larger proceeding and includes page references and formatting details.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 64 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001 \ Canada Rev...
AI summary This document is part of the 2025 Annual Financial Statements Additional Submissions for Nova Scotia Power Incorporated. It includes a Docusign Envelope ID and references Schedule 9, which may contain financial details or supporting information.
RELATED AND ASSOCIATED CORPORATIONS Name of corporation Business Number Tax year end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 - Complete this schedule if the corporation is related to or associated with at...
AI summary This section lists Nova Scotia Power Incorporated along with its business number and tax year end, indicating the need to complete the schedule if the corporation is related to or associated with another corporation.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 65 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 11931 4938 RC0001 NSPI - 2025 - T2.225 Canada Revenue Agency Agence du revenu du C...
AI summary This document contains a page from the 2025 Annual Financial Statements Additional Submissions by NSPI, including a Docusign Envelope ID and a reference to the Canada Revenue Agency under the heading 'Resource-Related Deductions'.
Foreign-source resource income includes income from oil and gas wells or mines outside Canada and proceeds, less applicable expenses and reserves on the disposition of foreign resource property on the disposition of lordigit resource prope...
AI summary The text defines foreign-source resource income, including income from oil and gas wells or mines outside Canada, and proceeds from the disposition of such properties, after deducting applicable expenses and reserves. However, the text contains repeated and unclear terms that may be errors or typos.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 70 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 NSPI - 2025 - T2.225 Nova Scotia Power Incorporated 11931 4938 RC0001
AI summary This document is part of the 2025 Annual Financial Statements Additional Submissions from Nova Scotia Power Incorporated. It includes a Docusign Envelope ID and a reference to a specific submission (NSPI - 2025 - T2.225).
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 71 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001
AI summary The document contains a submission related to the 2025 Annual Financial Statements of Nova Scotia Power Incorporated, with a Docusign Envelope ID and reference numbers included. It appears to be part of a regulatory proceeding in Nova Scotia.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 73 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 lova Scotia Power Incorporated 11931 4938 RC0001
AI summary The text includes a reference to the 2025 Annual Financial Statements Additional Submissions from Nova Scotia Power Incorporated, with a Docusign Envelope ID and some financial codes listed.
¬ Part 9 – Cumulative foreign resource expenses (continued) — 1 2 3 4 5 Country in which Balance at Amount transferred on Amount transferred Other successor expenses the end of amalgamation or windup other than on deductions were incurred...
AI summary This section discusses cumulative foreign resource expenses, detailing columns related to balances, transfers, and deductions. It outlines the calculation of amounts available, current-year claims, and closing balances, referencing subsection 66.7(2.3) for claims and the treatment of negative amounts in Schedule 1.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 77 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 ★...
AI summary The document is a page from the 2025 Annual Financial Statements Additional Submissions Attachment 1 of Nova Scotia Power Incorporated, including a Docusign Envelope ID and reference to the Canada Revenue Agency.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 78 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001 \ NSPI - 2025 - T2.225 Canada Rev...
AI summary This document is part of the 2025 Annual Financial Statements Additional Submissions by Nova Scotia Power Incorporated. It includes a Docusign Envelope ID and references Schedule 29, which is related to the Canada Revenue Agency.
Detailed information (continued) - NSPI - 2025 - T2.225 - Partnership allocations Subsection 127(8) provides for the allocation of the amount that may reasonably be considered to be a partner's share of the ITCs of the partnership at the e...
AI summary The text discusses partnership allocations under Canadian tax regulations, particularly regarding ITCs (Investment Tax Credits) for clean energy and technology initiatives. It outlines the allocation rules, definitions of qualified property, and the inclusion of Atlantic Canada's offshore regions in the context of these credits.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 81 of 182 NSPI - 2025 - T2.225 2025-12-31 Nova Scotia Power Incorporated 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654
AI summary This document is a page from the 2025 Annual Financial Statements Additional Submissions by Nova Scotia Power Incorporated, including a Docusign Envelope ID for 2026.
rresponds the appropriate that corresponds the appropriate that corresponds the appropriate that corresponds the appropriate that corresponds the appropriate that corresponds the appropriate that corresponds the appropriate that correspond...
AI summary The text appears to be corrupted or incomplete, with repeated phrases that do not form a coherent summary. The only clear mention is related to 'the appropriate rate,' suggesting a discussion on rate-setting or regulation.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 91 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 NSPI - 2025 - T2.225 2025-12-31 Nova Scotia Power Incorporated 11931 4938 RC0001
AI summary This document contains a redacted section of Nova Scotia Power Incorporated's 2025 Annual Financial Statements, including an attachment and a Docusign Envelope ID. It is part of a larger submission related to the 2025-12-31 financial reporting period.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 93 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 2025-12-31 Nova Scotia Power Incorporated 11931 4938 RC0001 \ Canada Revenue Agenc...
AI summary The document is a page from the 2025 Annual Financial Statements Additional Submissions by Nova Scotia Power Incorporated, with a Docusign Envelope ID and a reference to the Canada Revenue Agency. It is part of a larger submission and includes a schedule number.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 102 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 NSPI - 2025 - T2.225 Nova Scotia Power Incorporated 11931 4938 RC0001
AI summary The text provides a reference to the 2025 Annual Financial Statements of Nova Scotia Power Incorporated (NSPI), including a Docusign Envelope ID and a submission reference number. It appears to be part of a regulatory filing process.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 104 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654
AI summary This document is a submission related to the 2025 Annual Financial Statements of Nova Scotia Power Incorporated (NSPI), with a Docusign Envelope ID provided for reference.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-06-29 13:08 11931 4938 RC0001 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Attachments (continued) Yes Schedule 271 Did the...
AI summary The document outlines various sections of Nova Scotia Power Incorporated's amended T2 Tax Return for 2024, focusing on SR&ED. It includes questions related to foreign affiliates, specified foreign property, transfers to non-resident trusts, SR&ED agreements, and elections related to Canadian Controlled Private Corporation status.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 1 9 10 11 12 13 14 15 Class number Description Proceeds of dispositions Note 8 UCC (column 2 plus column 3 plus or minus...
AI summary The document presents a tax return amendment for NSPI in 2024, focusing on the T2 Tax Return for SR&ED.224. It includes a detailed table outlining various classes of assets, their UCC values, proceeds of dispositions, and adjustments related to capital cost additions and other financial metrics.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 123 of 182 2024 12 1 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated
AI summary This document is a page from the 2025 Annual Financial Statements Additional Submissions by Nova Scotia Power Incorporated, containing a redacted entry and a Docusign Envelope ID for a submission dated December 1, 2024.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 124 of 182 2024 12 21 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001
AI summary This document is a submission related to the 2025 Annual Financial Statements of Nova Scotia Power Incorporated, dated December 21, 2024, and includes a Docusign Envelope ID for reference.
Part 1 – General information 010 Name of claimant Enter one of the following: Nova Scotia Power Incorporated 11931 4938 RC0001 Business number (BN) Tax year 2024-01-01 2024-12-31 From to Year Month Day Year Month Day 050 Total number of pr...
AI summary The document provides general information for a tax claim filed by Nova Scotia Power Incorporated for the 2024 tax year, including contact details, project numbers, and references to financial submissions. It includes a redacted section of the 2025 Annual Financial Statements Additional Submissions Attachment 1.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-06-29 13:09 11931 4938 RC0001 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 244 What work did you perform in the tax year to...
AI summary The document outlines a tax return amendment for Nova Scotia Power Incorporated related to Scientific Research and Experimental Development (SR&ED) in 2024. It mentions ongoing efforts to improve mitigation strategies as part of a project aimed at overcoming scientific or technological uncertainties.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 160 of 182 SR&ED.224 2024-12-31 Nova Scotia Power Incorporated NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2026 Docusign Envelope ID: 3004E7B2-D1E...
AI summary This document is an amended tax return for Nova Scotia Power Incorporated (NSPI) for the year 2024, specifically related to the SR&ED.224 submission. It includes a Docusign Envelope ID and is part of the 2025 Annual Financial Statements Additional Submissions.
Part 1 – General information 010 Name of claimant Enter one of the following: Nova Scotia Power Incorporated 11931 4938 RC0001 Business number (BN) Tax year 2024-01-01 2024-12-31 From to Year Month Day Year Month Day 050 Total number of pr...
AI summary The document contains general information related to a tax claim submitted by Nova Scotia Power Incorporated for the 2024 tax year, including contact details and project numbers. The submission is part of the 2025 Annual Financial Statements Additional Submissions and is marked as confidential.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-06-29 13:09 11931 4938 RC0001 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 SCHEDULE 340
AI summary The document is an amended tax return for Nova Scotia Power Incorporated for the year 2024, specifically related to the Scientific Research and Experimental Development (SR&ED) program. The return was filed on December 31, 2024, and is part of a larger document with a Docusign Envelope ID.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 169 of 182 REDACTED (CONFIDENTIAL INFORMATION REMOVED) ! Part 4 – Late-filing penalty
AI summary This section discusses the late-filing penalty related to the 2025 Annual Financial Statements Additional Submissions. It outlines the consequences of submitting documents after the deadline, though specific details of the penalty are redacted.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 175 of 182 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Page 3 of 5 0012466 NOVA SCOTIA POWER INCORPORATED
AI summary This document is a redacted page from Nova Scotia Power Incorporated's 2025 Annual Financial Statements Additional Submissions. It includes page numbers and references to financial filings, though the content is partially redacted due to confidentiality.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 181 of 182 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Page 3 of 4 0027889 NOVA SCOTIA POWER INCORPORATED
AI summary This document is a redacted page from Nova Scotia Power Incorporated's 2025 Annual Financial Statements Additional Submissions. It is part of a larger submission and contains confidential information that has been removed.
Notice details Business number 11931 4938 RC0001 Tax year-end Dec 31, 2024 Date issued Jul 18, 2025 Summary Description $ Reported CR $ Assessed CR - Federal tax Part I 0.00 0.00 Part I.3 0.00 0.00 Part IV.1 0.00 0.00 Part VI.1 29,042,041....
AI summary The document outlines a federal tax assessment for the business number 11931 4938 RC0001 with a tax year-end of December 31, 2024. Part VI.1 of the federal tax is reported at $29,042,041.00, with instalments applied resulting in a net balance of $252.44 and a total balance for the tax year-end of $279,266.46.
NS Power Five Year Average Corporate Income Tax (Recovery) Expense December 31, 2025 Millions of Dollars 2025 2024 2023 2022 2021 Five year average Actual Regulated Corporate Income Tax (Recovery)/Expense (36) (33) (5) 1 15 (12) Adjustment...
AI summary The document provides a five-year average of NS Power's regulated and legal corporate income tax (recovery) expense as of December 31, 2025. It shows a negative expense (recovery) in each year, with the five-year average being negative for both regulated and legal income tax expenses.