N-12025-2026 Annual Report
9 passages
Building While Delivering Our first year required us to do two things simultaneously: build an organization capable of serving Nova Scotians for decades to come and begin delivering on the province's most urgent electricity priorities. We...
AI summary The organization focused on building its capabilities while addressing urgent electricity priorities, including securing firm capacity from New Brunswick, preparing for competitive procurement of fast-acting generation, and launching Nova Scotia's first Integrated Resource Plan (IRP). The organization also emphasized reliability and stakeholder engagement, and is preparing to take over real-time transmission operations from Nova Scotia Power.
2025-26 YEAR IN REVIEW All that has been accomplished in IESO Nova Scotia's inaugural year was driven by a singular objective: deliver value for the province and its people. That goal powered our entire organization — from our Board of Dir...
AI summary IESO Nova Scotia's inaugural year (2025-26) focused on delivering value for the province by establishing foundational capabilities, launching long-term planning and capacity procurement initiatives, and assuming key electricity system responsibilities from Nova Scotia Power, while advancing the renewable energy transition.
Successfully Transitioning New Responsibilities On December 1, 2025, IESO Nova Scotia assumed the first of its mandated responsibilities with the successful transition of 21 system planning employees from Nova Scotia Power. The transition...
AI summary On December 1, 2025, IESO Nova Scotia successfully transitioned 21 system planning employees from Nova Scotia Power, marking a significant milestone in the implementation of Nova Scotia's independent system operator model. The transition included responsibilities such as transmission planning, integrated resource planning, and interconnection processes, setting the stage for future grid operations under the More Access to Energy Act.
Establishing the Financial Framework to Deliver the Mandate Finally, as a brand-new organization, IESO Nova Scotia undertook considerable work to build the financial and regulatory foundations needed to deliver on our mandate. In August 20...
AI summary IESO Nova Scotia filed its first revenue requirement application in August 2025, seeking $5.3 million to support startup activities and initial operations. A second application for $14.9 million was filed in January 2026, with an interim funding mechanism approved in February 2026. An enduring fee recovery mechanism was also proposed and filed in July 2026, with outcomes to be included in future reports.
Preparing for Independent System Operations In 2026-27, IESO Nova Scotia plans to make material progress preparing for the next major phase of its mandate: assuming responsibility for the real-time operation of the province's high voltage...
AI summary In 2026-27, the IESO Nova Scotia plans to advance preparations for assuming real-time operation of the high voltage electricity grid from Nova Scotia Power. This transition aims to improve transparency, accountability, and efficiency in the electricity sector and is expected to occur in 2027-28.
1. Reporting entity and nature of operations The Nova Scotia Independent Energy System Operator ("IESO Nova Scotia" or "the Organization"), is located at 1791 Barrington Street, Halifax, Nova Scotia, and is a statutory corporation establis...
AI summary The Nova Scotia Independent Energy System Operator (IESO Nova Scotia) was established in 2024 under the More Access to Energy Act and began operations in 2025. It is a not-for-profit entity, and its revenue requirements for fiscal 2026 were approved by the Nova Scotia Energy Board (NSEB).
The Board operates through standing committees, each guided by Board-approved terms of reference. Committees Oversight Audit and Risk Committee Assists the Board in fulfilling its stewardship and oversight responsibilities for the financia...
AI summary The Board of IESO Nova Scotia operates through several standing committees, including the Audit and Risk Committee, Human Resources and Governance Committee, and an Ad-Hoc Transition Committee, which oversees the transition from Nova Scotia Power Inc. to IESO Nova Scotia. An Ad-Hoc 2025-26 Revenue Requirement Application Committee also supported the development of the Revenue Requirement Application.
The table below provides a summary of the key performance measures, and progress against them, for 2025-26: Objective Summary Met/Partially Met/Not Met Description Stand up IESO Nova Scotia Operations Met During the year, office space was...
AI summary The document outlines key performance measures for 2025-26, including the establishment of IESO Nova Scotia Operations, building organizational awareness, progress on the inaugural Integrated Resource Plan (IRP), energy procurement, transition activities from Nova Scotia Power, and regulatory filings. All objectives were met.
IESO NOVA SCOTIA'S FIRST YEAR AT A GLANCE The accomplishments highlighted below demonstrate the strong momentum we have built so far this year. Through collaboration, we have achieved significant results across our key areas of focus. - Fe...
AI summary IESO Nova Scotia's first year involved appointing a board, launching its website, initiating the Integrated Resource Plan process, and assuming system planning responsibilities from Nova Scotia Power. The organization filed revenue requirement applications and secured approvals for funding and environmental assessments for new generation projects.