Topic:"Regulatory Approval Processes" in M13133

21 11.8 Indemnity Agreement - 23 An essential part of the securitization transaction is the provision of an Indemnity Agreement by - 24 the Government of Nova Scotia. This is required by credit rating agencies because the security - 25 for...

AI summary The Indemnity Agreement provided by the Government of Nova Scotia is essential for the securitization transaction, as required by credit rating agencies to ensure bondholder protection in case of regulatory changes that could impact bond repayment.

- MR. WILLIAMS: I think we're going to - get started. Apologies for the delay. - We'll maybe start with just doing some - brief intros and we'll intro from Nova Scotia Power those - of us that are maybe just the four of us that are going -...

AI summary The session is being introduced by Nova Scotia Power representatives, including Blake Williams, Craig Flemming, Michael Willett, and Justin Heisler. The session is being recorded and transcribed by International Reporting Inc. for the Energy Board proceeding.

e, at a high level, and - I think by the time we get into anything substantive, - Andrew should be on. - So the intent today is it's a - technical conference, so the intent is to go through the - application and Craig and Mike and Justin h...

AI summary This text outlines a technical conference related to a regulatory proceeding, including the process involving the Hearing Order, information requests, evidence, and written submissions. The session is intended to be interactive, allowing for questions and discussions during the presentation.

bviously the formal process - that's been outlined by the Board but, as has been the - case leading up to this and as will continue to be the - case, from our perspective, if there are questions or - discussions that any of you think would...

AI summary The speaker emphasizes the Board's formal process and encourages open communication beyond the Hearing Order. A decision on the application is expected within 60 days, with a financing order likely to include conditions related to securitization and customer benefits based on bond yields.

ORTING INC. CERTIFIED COURT REPORTERS MS. RUBIN: Blake, sorry to interject. - You're really choppy. You're kind of going in and out and - I don't know if it's you're leaning back or turning back - around, but if you could position yourself...

AI summary The speaker discusses the financing order issued by the Board, which sets parameters for bond yields when going to market. Once assets transfer or bonds are issued, the financing order becomes irrevocable. The 60-day period is mentioned for decision-making, with the possibility of interim approval of the securitization rider.

terim - basis. So what those rate impacts that flow from the - securitization may be for customers would be approved on a - I'll stop looking at the camera. - So it's anticipated that the Board - INTERNATIONAL REPORTING INC. CERTIFIED COUR...

AI summary The speaker discusses the interim approval of rate impacts from securitization by the Board, allowing for a further regulatory process to determine the final split of the securitized surcharge among customer classes. The process is compared to past regulatory proceedings, such as the 500 million LFG filing, but notes that the current situation involves only one applicant.

to seek - input on that or if they have a sense of what they want to - do, but we have no preconceived notion of what that - regulatory process would like. - We understand that there are likely to - be questions and that customer represent...

AI summary The discussion centers on the regulatory process and the submission of evidence by intervenors. It highlights the need for customer representatives to provide input and evidence, and clarifies that the current Board order does not allow intervenor evidence filing, but such a request could be made if needed.

the intervenor's expert - evidence related to allocation and the rider, can we - safely assume we don't need to make the request to file - evidence because there will be a supplementary process for - that, or should we assume we need to fi...

AI summary The intervenor's expert is discussing the process for filing evidence related to a rider and whether a supplementary process is needed. They mention a past example involving the 500 FLG and a similar process for the NSPML application, with a timeline and deadlines for intervenors to seek leave to file evidence.

ber. And then it had a deadline for intervenors or - Board counsel to seek leave to file evidence. - So I think what I would suggest is a - process like that where there is also another opportunity - to ask IRs, and that's the same as the...

AI summary The discussion revolves around the need for a more efficient process for handling intervenor requests related to the cost-of-service aspects of a filing. The speaker suggests adopting a process similar to the one used with the FLG application, which included multiple stages for intervenor input and written submissions to avoid delays.

itized costs would - be are being affirmed as part of this this component in - the application. Who's responsible for those buckets and - how much responsibility they may have would be something - that would be determined as part of the co...

AI summary The discussion focuses on the need for clarity in determining responsibility for cost buckets as part of the cost-of-service analysis, with concerns raised about potential issues if responsibilities are not clearly defined before approval. The parties involved express willingness to collaborate with the Board on the process.

just or you all just want to write and provide your - thoughts or concerns with the Board during the process, - then that's certainly up to you as well. - But I'm mindful of the fact that we're - working with a very limited timeline and we...

AI summary The discussion revolves around the need for clarity on the regulatory process and the timing of submitting written concerns to the Board. Participants emphasize the importance of transparency and the limited timeline for decision-making.

'd be recovered over 13 - years. - INTERNATIONAL REPORTING INC. CERTIFIED COURT REPORTERS So is there a bit more explanation of - that discrepancy or you can tell me where I've made the - mistake? - MR. FLEMMING: Yeah, absolutely, - James....

AI summary The discussion revolves around the recovery of costs over a 13-year period, with a focus on the assumptions behind the NPV analysis and the cost allocation process. Questions are raised about the methodology for cost recovery and the feasibility of a 60-day turnaround time for the Board to approve a yield on long-term bonds.

HEARING ORDER On October 9, 2026, NS Power filed an application for approval of a financing order authorizing the securitization of $1 billion in costs, collected from customers through a Securitization Cost Recovery Rider. Under s. 35G of...

AI summary NS Power has filed an application for approval of a financing order to securitize $1 billion in costs collected through a Securitization Cost Recovery Rider. The Board has set a paper hearing timetable and requires compliance with the Board's Regulatory Rules, including specific filing deadlines.

AMENDED HEARING ORDER On October 9, 2026, NS Power filed an application for approval of a financing order authorizing the securitization of $1 billion in costs, collected from customers through a Securitization Cost Recovery Rider. Under s...

AI summary NS Power filed an application for approval of a financing order to securitize $1 billion in costs through a Securitization Cost Recovery Rider. The Board has set a paper hearing process with specific timelines for technical conferences, evidence submissions, and publication of the hearing order.

October 9, 2026 [[email protected]](mailto:[email protected]) Blake Williams VP, Legal and Regulatory Nova Scotia Power Inc. PO Box 910 Halifax, NS B3J 2W5 Dear Mr. Williams: M13133 - Application for Financing Order authori...

AI summary NS Power has applied for a Financing Order to securitize $1 billion in costs through a Securitization Cost Recovery Rider. The application is subject to a 60-day review period, with a Technical Conference scheduled for October 15, 2026, and a paper hearing process to follow.

October 15, 2026 , for interested parties. The Board will provide a short period for Information Requests to NS Power immediately thereafter. Yours very truly, Cystal Henwood Clerk of the Board for c William Mahody, K.C., Board Counsel Int...

AI summary The Board is providing a short period for Information Requests to NS Power following the filing deadline on October 15, 2026. The Clerk of the Board, Cystal Henwood, and Board Counsel, William Mahody, K.C., are involved in the proceeding.

HEARING ORDER On October 9, 2026, NS Power filed an application for approval of a financing order authorizing the securitization of $1 billion in costs, collected from customers through a Securitization Cost Recovery Rider. Under s. 35G of...

AI summary NS Power has filed an application for a financing order to securitize $1 billion in costs through a Securitization Cost Recovery Rider. The Board has approved a paper hearing process with specific deadlines for technical conferences, information requests, and submissions. The Public Utilities Act and Board's Regulatory Rules govern the proceeding.

October 13, 2026 [[email protected]](mailto:[email protected]) Blake Williams VP, Legal and Regulatory Nova Scotia Power Inc. PO Box 910 Halifax, NS B3J 2W5 Dear Mr. Williams: M13133 - Application for Financing Order author...

AI summary Nova Scotia Power Inc. has applied for a financing order to securitize $1 billion in costs through a Securitization Cost Recovery Rider. The Board has issued a Hearing Order and Notice of Paper Hearing, with the application subject to confidentiality requests under Rule 12 of the Board Regulatory Rules. A technical conference is scheduled for October 15, 2026, and the Board will issue its order within 60 days of the application filing.

NOTICE OF INTERVENTION OF: K + S Windsor Salt Ltd. CKF Inc. Crown Fibre Tube Inc. Irving Shipbuilding Inc. Maritime Paper Products Ltd. Michelin North America (Canada) Inc. Compass Minerals Canada Corp. Farnell Packaging Ltd. P & H Milling...

AI summary The Industrial Group, consisting of several large and medium industrial customers of NSPI, intervenes in the proceeding as their costs are directly affected by the Application. They are addressing issues established by the Energy Board.

To: Nova Scotia Energy Board - 1. The Department of Energy intends to participate in this proceeding and may address any or all of the issues as established by the Energy Board. Through the Minister of Energy, the Department of Energy has...

AI summary The Department of Energy plans to participate in the proceeding and has requested that all notices and information be provided to specific individuals. The department is under the supervision of the Minister of Energy and has control over energy resource matters.

Eastward Energy Incorporated TAKE NOTICE that Eastward Energy ("Eastward") hereby requests to intervene in this proceeding. Eastward is a Nova Scotia-based company, formed for the purpose of providing natural gas distribution service to No...

AI summary Eastward Energy Incorporated, a Nova Scotia-based natural gas distribution company, has requested to intervene in a regulatory proceeding. The company provides natural gas services to residents and businesses in Nova Scotia and has provided contact information for its representatives, including Jennifer Matthews and Angela Costello.

SMALL BUSINESS ADVOCATE TAKE NOTICE that the Small Business Advocate hereby Intervenes in this proceeding in accordance with the regulations. The Small Business Advocate represents 3 classes of small business (namely 10, 11, and 21 small b...

AI summary The Small Business Advocate intervenes in the proceeding, representing three classes of small businesses. They request communication to be directed to their legal representatives and provide contact details. The notice is dated October 11, 2026, and addressed to the Clerk of the Nova Scotia Energy Board.

Opportunity to File Evidence Under the Current Schedule The Hearing Order provides for evidence from Board Counsel's consultants on November 9, 2026, written submissions from interested parties on November 18, 2026, and NSPI's written repl...

AI summary The Hearing Order outlines a timeline for evidence submission in the proceeding, excluding intervenors. The IG raises concerns about procedural fairness, noting that the need for intervenor consultant evidence depends on the scope of the Phase 1 application and NSPI's responses to IRs. The IG respects the timeline but highlights the need for clarification.

October 16, 2026 Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor Halifax NS B3J 3S3 Re: M13133 – Application for Financing Order authorizing the Securitization of $1 billion in costs, collecte...

AI summary NS Power responds to the Industrial Group's request for clarification regarding the approval process for securitization cost buckets in the $1 billion financing application. NS Power clarifies that the breakdown of Securitized Costs must be approved in full, not on an interim basis, with only the allocation of surcharges between customer classes eligible for interim approval.

Please refer to: David Roberts Email: [[email protected]](mailto:[email protected]) Assistant: Heidi Day Assistant's email: [[email protected]](mailto:[email protected]) October 16, 2026 VIA WEB PORTAL & EMAIL Crystal Henwo...

AI summary The Consumer Advocate, represented by David Roberts of Pink Larkin, is seeking clarification from the Nova Scotia Energy Board regarding the two-stage process for NSPI's application to securitize $1 billion in costs. They request confirmation on what matters the Board will address in each phase and whether intervenors can submit evidence in the second phase.

October 16, 2026 VIA EMAIL Ms. Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor Halifax NS B3J 3S3 Dear Ms. Henwood: Re: M13133 – Application for Financing Order authorizing the Securitization...

AI summary The Small Business Advocate (SBA) supports the Industrial Group's request for further clarification on the procedure for allocating securitized costs to different rate classes. The SBA is concerned about the allocation of costs, particularly those related to the IESO-NS deferral, and suggests allowing a further process for intervenors to provide evidence and submissions.

ch of the "buckets" intended to be securitized as the basis for the financing are appropriate, whether some proposed should be excluded from securitization, and whether other items should be included. While the scope of this proceeding mus...

AI summary The document discusses the two-step process for allocating securitized surcharges between customer classes under the Financing Order and Securitized Bonds Regulations. The Board interprets NS Power's application as requesting a second phase to address final cost of service treatment, while interim allocation issues must be resolved in the first phase.

Opportunity to file Intervenor evidence As previously noted, the Board remains mindful that the Regulations provide for the issuance of the Board's Order within 60 days of the filing of the application. The timeline contained in the Hearin...

AI summary The Board is revising the timeline for filing intervenor evidence in response to procedural concerns, ensuring that intervenors can submit evidence concurrently with Board Counsel Consultants, with NS Power having a short window to file rebuttal evidence before final submissions.

AMENDED HEARING ORDER On October 9, 2026, NS Power filed an application for approval of a financing order authorizing the securitization of $1 billion in costs, collected from customers through a Securitization Cost Recovery Rider. Under s...

AI summary NS Power has applied for approval of a financing order to securitize $1 billion in costs via a Securitization Cost Recovery Rider. The Board has set a paper hearing with a detailed timetable and will apply its Regulatory Rules, including Rule 7(3), to the proceeding.

Issues we intend to address: - The already high and rising energy costs for Nova Scotians. - The valuation of the securitized assets, including whether they should be written down before they are securitized, at shareholder expense. - The...

AI summary The issues addressed include rising energy costs, valuation of securitized assets, potential overinvestment by utilities, allocation of climate policy risks, and the role of the Department of Energy and Governor-in-Council in authorizing the application via Order in Council 2026-349.

1 Request IR-19: - 2 On p. 29 of the application, lines 17-19, say: - 3 …the ELID tariffs will be updated following the Board's determination of M12661, while the 4 changes to the BTL tariffs will be reflected in the AAR application. 5 6 a...

AI summary The text raises questions about the impact of the Board's decision on the ELID tariff in Matter M12661 on the interim allocation in the current matter, anticipated revisions to BTL tariffs in the 2027 AAR proceeding, and how NS Power plans to reflect changes from this matter's decision in the AAR application before its filing deadline.

INFORMATION REQUESTS To: Nova Scotia Power Inc. Blake Williams Senior Regulatory Counsel By e-mail: [email protected] From: Bates White LLC Responses Due : Thursday, October 22, 2026 Copies: 1 electronic copy (PDF searchable) Conta...

AI summary This information request is issued by Bates White LLC to Nova Scotia Power Inc. regarding a regulatory proceeding. Responses are due by October 22, 2026, and contact details for both parties are provided. The request was issued in Halifax, Nova Scotia, by Crystal Henwood, Clerk of the Board.

Request IR-20: - Reference: N-1, page 37 lines 15-19. - Is NS Power aware of any precedent for an instance where a Board Order "may not be amended, - modified, or terminated by any subsequent action of the Board"? Please provide any releva...

AI summary The text requests Nova Scotia Power to provide any precedent where a Board Order cannot be amended, modified, or terminated by subsequent actions of the Board.

charge calculation. - 18 (j) Identify who provides that approval and whether separate Board approval 19 is required or authorization would arise from the Financing Order and 20 transaction documents. - 21 (k) Please identify the proposed l...

AI summary The text outlines several questions regarding the approval process for financing costs, reserve requirements, and the ability to seek refunds or future rate adjustments outside the Securitized Surcharge mechanism. It asks about the authority for approval, criteria for limits, and the process for assessing reasonableness and approving changes.

NOTICE OF INTERVENTION TO: The Nova Scotia Energy Board ("Board") AND TO: Nova Scotia Power Inc. ("NSPI") - 1. PORT HAWKESBURY PAPER LP ("PHP") conducts its business in Nova Scotia, and is engaged in the manufacture of paper at its Port Ha...

AI summary Port Hawkesbury Paper LP (PHP) seeks intervenor status in a regulatory proceeding before the Nova Scotia Energy Board, as it purchases significant power from NS Power under the ELIADC Tariff and has a vested interest in the matter.

INFORMATION REQUESTS To: NS Power Blake Williams Vice President, Legal and Regulatory From: The Berwick Electric Commission, the Riverport Electric Light Commission, and the Towns of Mahone Bay and Antigonish (the "MEUs") Responses Due: Oc...

AI summary The Berwick Electric Commission, Riverport Electric Light Commission, and the Towns of Mahone Bay and Antigonish have submitted information requests to NS Power, seeking responses by October 29, 2026. The request was sent to NS Power's Vice President, Legal and Regulatory, Blake Williams.

NOVA SCOTIA ENERGY BOARD IN THE MATTER OF: THE PUBLIC UTILITIES ACT - and - IN THE MATTER OF: THE FINANCING ORDERS AND SECURITIZED BONDS REGULATIONS -and- IN THE MATTER OF: AN APPLICATION by NOVA SCOTIA POWER INCORPORATED for approval of a...

AI summary Nova Scotia Power Inc. has applied for a Financing Order to securitize $1 billion in costs through a Securitization Cost Recovery Rider. Morrison Park Advisors has been requested to provide information by October 29, 2026, as part of the regulatory process.