Topic:"Regulatory Compliance" in M12451

inuously receive pay raises year after year? When do their salaries stagnate or lower due to the company taking on more debt and Nova Scotians not being able to afford their products/services anymore? 2025 has been a precarious year for af...

AI summary A Nova Scotian single mother of four highlights the financial strain caused by rising electricity costs, housing expenses, and unaffordable power rates. She argues that NSP's rate hikes, combined with stagnant wages and high taxes, are pushing households to the brink of homelessness and hunger, citing her own unmanageable utility bills despite energy efficiency measures.

\ \ EXTERNAL EMAIL / COURRIEL EXTERNE \ \ Exercise caution when opening attachments or clicking on links / Faites preuve de prudence si vous ouvrez une pièce jointe ou cliquez sur un lien Answer: Me...you...every NSPI customer...certainly...

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

Support for 2026-2027 GRA - Further to the letter filed with the Nova Scotia Energy Board (NSEB or Board) on September 2, - 2025, Nova Scotia Power Incorporated (NS Power or Company) is filing this General Rate - Application for 2026-2027...

AI summary Nova Scotia Power Incorporated (NS Power) submits a 2026-2027 General Rate Application (GRA) supported by customer representatives after a collaborative process. The GRA is based on a Cost-of-Service Study (COSS) and excludes cybersecurity attack costs. It reflects negotiated outcomes with reduced costs due to regulatory efficiencies.

Roadmap of the Application - This application is organized into several key components, each critical to determining the - proposed rate adjustments: - 1. Status of Prior GRA-Related Directives: An update on the various directives from the...

AI summary The application outlines components for determining rate adjustments, including prior GRA directives, load forecasts, fuel costs, operating expenses, depreciation, rate base, capital structure, revenue requirements, cost-of-service studies, rate design, proposed rates, and regulatory changes. NS Power collaborates with customer advocates to balance affordability, reliability, and clean energy goals.

3 STATUS OF PRIOR GRA-RELATED DIRECTIVES - When the NSEB rendered its decision following the 2023-2024 GRA, it issued 13 directives for - NS Power arising from the issues at the hearing. The Board has also issued other directives which - r...

AI summary The NSEB issued 13 directives following the 2023-2024 GRA, with additional Board directives requiring compliance before the current GRA filing. Appendix 3A details these directives and their status.

Environmental Compliance - NS Power continues to make significant progress in reducing its emissions of mercury, sulphur - dioxide, nitrogen oxide and greenhouse gases. NS Power is subject to various provincial standards - governing the ac...

AI summary NS Power is reducing emissions of mercury, sulfur dioxide, nitrogen oxide, and greenhouse gases under provincial standards, particularly the Air Quality Regulations, N.S. Reg. 8/2020. The regulations set specific emission limits as outlined in Figure 5-3.

8.2.1 Depreciation Rates for Assets within the Scope of the DDA - When the NSEB approved NS Power's DDA, it accepted NS Power's proposal that assets - determined to be within the scope of the DDA would not be required to be included within...

AI summary The NSEB approved NS Power's DDA, excluding most assets from depreciation studies except specific ones. NS Power is not updating depreciation rates for DDA assets and plans to securitize them by December 2025 with the Province, pending credit rating agency approval.

9.2.1 Average Capital Assets - Average capital assets reflect NS Power's forecast average net book value of property, plant, and - equipment plus construction work in progress over the 2022-2024 test period. Please refer to FO- - 12 of thi...

AI summary NS Power's average capital assets have increased due to investments in reliability, renewable energy, regulatory compliance, and grid modernization. Replacing aging assets with new ones drives rate base growth, influenced by inflation and expanding customer needs. The company emphasizes efficient capital management to provide value to customers.

14 9.2.5.2 Pension Asset The average prepaid pension asset in 2026 increases by $59.7 million from the 2024 GRA Compliance Filing budget, resulting in an average prepaid pension asset for 2026 of $156.9 million. In 2027, the average prepai...

AI summary The prepaid pension asset for NS Power increases from $156.9 million in 2026 to $184.0 million in 2027, reflecting funding differences between contributions and actuarial expenses. Recoveries are projected at $2.1 million (2026) and $0.4 million (2027). The analysis references a 1993 UARB decision related to a General Rate Application.

10.3.1 Debt and Interest - NS Power uses a mix of fixed (long-term) and floating rate (short-term) debt in its capital structure. - Long-term interest rates are generally higher, but less volatile than shorter-term interest rates. - Under...

AI summary NS Power uses a mix of fixed and floating rate debt, relying heavily on commercial paper for low-cost financing. Its BBB (High) DBRS rating, below market requirements, necessitates exemptive relief to maintain access. The relief expires in 2028, requiring NS Power to improve its rating. Forecast short-term rates for 2026-2027 are 3.15-3.25%, with long-term debt plans including $250 million issuance and energy storage funding.

10.3.2 Return on Equity - The ROE represents the amount of net income which the Company can earn and deliver to its - investors. It is the return provided for the equity invested. The current NSEB-approved range of - ROE is between 8.75 an...

AI summary The ROE range set by NSEB is 8.75-9.25%, with a current rate of 9.0%. Concentric Evidence suggests 9.9% is reasonable. Lower equity increases debt costs, raising customer rates. NSPI relies on investors for capital, and sufficient returns are needed to attract them.

Requested Capital Structure and Cost of Capital - It is a well-established regulatory principle and is codified in the Public Utilities Act (PUA) that - NS Power's approved Capital Structure and Cost of Capital must be sufficient to allow...

AI summary The document discusses NS Power's request to maintain a 9.0% ROE and 40% equity ratio, contrasting with Concentric Evidence's recommendation of 9.9% ROE and 45% equity. It emphasizes the need to balance customer affordability with financial stability, referencing the Public Utilities Act and the role of the Storm Cost Recovery Rider in aligning NS Power's risk profile with proxy utilities.

Storm Cost Recovery Rider - In the Board's 2023-2024 GRA Decision, it approved the Storm Cost Recovery Rider (SCRR) on - a three-year pilot basis, providing for recovery of OM&G restoration costs for Level 3 and 4 - storms in the years 202...

AI summary The Nova Scotia Energy Board (NSEB) approved the Storm Cost Recovery Rider (SCRR) as a three-year pilot in the 2023-2024 GRA Decision, allowing NS Power to recover Level 3/4 storm costs. NS Power seeks continuation for 2026-2027. Customer advocates raised concerns about the SCRR's asymmetry, which was mitigated by the pilot period and PUA amendments.

Pole Attachment Fees - NS Power charges telecommunications carriers a rate to attach their equipment to poles owned by - NS Power (pole attachment fee). This issue was canvassed in the 2023-2024 GRA, and the - telecommunications carriers (...

AI summary NS Power charges telecommunications carriers (Eastlink, Rogers, Xplore) a pole attachment fee of $22 per pole annually, with 2% increases in 2023-2024. NS Power proposes continuing the 2% annual increase, leading to 4% in 2026 and 2% in 2027. The 2023-2024 GRA settlement agreement and NSEB Decision M10431 are referenced.

(a) To non-FAM classes When a customer transitions its load, whether in whole or in part, from a FAM class to a non-FAM class, NS Power shall determine the outstanding fuel cost imbalance of the customer at the time of transition. This det...

AI summary When customers transition from FAM to non-FAM classes, NS Power must calculate and adjust fuel cost imbalances, subject to NSEB approval. Adjustments are resolved through agreement between NS Power and the customer or by NSEB determination if unresolved.

(b) From non-FAM classes When a customer transitions its load, whether in whole or in part, to a FAM class from a non-FAM class, the customer will pay (or be reimbursed) outstanding FAM balances outside of the Fuel Adjustment Rider, on rea...

AI summary When customers transition from non-FAM classes to FAM classes, they pay or are reimbursed outstanding FAM balances outside the Fuel Adjustment Rider on reasonable terms agreed between the customer and NS Power, subject to NSEB approval. The process outlines charge structures by rate class.

Regulation

AI summary The document outlines a regulatory proceeding in Nova Scotia involving the Fuel Adjustment Mechanism (FAM) and Demand Side Management Cost Recovery Rider (DCR), overseen by the Nova Scotia Energy Board (NSEB) and Nova Scotia Power Inc. (NSPI). Key focus areas include cost recovery frameworks and regulatory compliance.

STREET AND AREA LIGHTING RATES

AI summary The document pertains to regulatory proceedings concerning Street and Area Lighting Rates in Nova Scotia. Key entities include Nova Scotia Power Inc. (NSPI) and the Nova Scotia Energy Board (NSEB), with references to mechanisms like the Fuel Adjustment Mechanism (FAM) and Demand Side Management Cost Recovery Rider (DCR). The proceeding involves considerations of energy pricing, reliability, and regulatory oversight.

RESPONSIBILITIES OF FRANCHISE HOLDER It is the responsibility of the holder of the electric efficiency and conservation franchise granted under Section 79C of the Public Utilities Act (Franchise Holder) to apply to the NSEB to seek approva...

AI summary The Franchise Holder must apply to NSEB for approval of DSM activities and costs. NS Power must apply for the DSM Cost Recovery Rider and pay monthly to fund DSM costs, as per the Public Utilities Act.

(A) STREET AND AREA LIGHTING

AI summary The section 'Street and Area Lighting' is referenced, but no specific content, arguments, or details are provided in the text. The context includes regulatory acronyms and entities relevant to Nova Scotia energy proceedings.

(a) \ To non-FAM classes When a customer transitions its load, whether in whole or in part, from a FAM class to a non-FAM class, NS Power shall determine the outstanding fuel cost imbalance of the customer at the time of transition. This d...

AI summary When customers transition from FAM to non-FAM classes, NS Power must calculate their fuel cost imbalance, adjust it in future FAM proceedings, and seek NSEB approval. Adjustments are resolved through agreement between NS Power and the customer or via NSEB determination if unresolved.

Nova Scotia Power Open Access Transmission Tariff (OATT) Schedules 1 to 10 OATT Schedules Version Effective Dates Schedule 1: Scheduling, System Control and Dispatch Service January 1, 2026February 2, 2023 Schedule 2: Reactive Supply and V...

AI summary The document outlines Nova Scotia Power Inc.'s Open Access Transmission Tariff (OATT) Schedules 1 to 10, detailing services such as scheduling, voltage control, frequency response, and transmission rates, with effective dates ranging from June 2016 to January 2026. Multiple schedules share overlapping effective dates, indicating potential revisions or updates.

Supplier Obligations Transmission Customers that self-supply this service, and third-party suppliers, shall provide between 100 and 110 percent of the stated MW amount within 30 minutes of notification by the Transmission Provider to activ...

AI summary Suppliers must provide 100-110% of stated MW within 30 minutes of activation, with reserves lasting at least 60 minutes. Failure to comply incurs a penalty equal to one month's charge for deficient reserves.

Activation of Reserves When a contingency occurs, the Transmission Provider will activate, at its sole discretion, sufficient reserves from (i) those under contract with the Transmission Provider, (ii) those provided by Transmission Custom...

AI summary The Transmission Provider activates reserves from contracted resources, Transmission Customers, and third-party contracts, including NS Power resources, to minimize costs and meet NPCC and NERC requirements during contingencies.

APPLICABILITY This schedule applies to all electric rate classes with the exception of the Wholesale Market Non-Dispatchable Supplier Spill Tariff, the Load Retention Tariff, and the Extra Large Industrial Active Demand Control Tariff. For...

AI summary The schedule applies to most electric rate classes, excluding specific tariffs. For Wholesale and Renewable to Retail customers, DSM costs defined in Section 79A of the Public Utilities Act are directly billed via the customer's energy bill, as if served by NS Power under bundled offerings, approved by the NSUAREB.

RESPONSIBILITIES OF FRANCHISE HOLDER It is the responsibility of the holder of the electric efficiency and conservation franchise granted under Section 79C of the Public Utilities Act (Franchise Holder) to apply to the Nova Scotia Utility...

AI summary The Franchise Holder must seek NSUAREB approval for DSM activities and costs. NS Power must apply annually by October 1 for DCRR amounts and monthly fund DSM costs approved by NSUAREB under Section 79C of the Public Utilities Act.

Interpretation In these regulations unless the context requires otherwise: Words importing male persons include female persons and corporations. Words importing the singular include the plural and vice versa. Marginal notes and appended ci...

AI summary The regulations define interpretive principles, including gender inclusivity in language, singular/plural equivalence, and the exclusion of marginal notes and citations from regulatory content. These provisions aim to ensure clarity and consistency in regulatory interpretation.

"Overhead service extension" "overhead service extension" means any above ground extension across private property or along a private road required to serve only a single customer; "Owner" "owner" is any person having title to the whole or...

AI summary The term 'overhead service extension' is defined as an above-ground electrical extension across private property or along a private road serving a single customer. 'Owner' is defined as any individual or entity holding title to property, including joint owners or tenants. The text includes an image reference but no further details.

Interpretation and Definitions Page 4 of 6 "Permanent Service" "permanent service" is one terminated on a permanent structure and which can be expected to remain in place without alteration for the useful life of the service. It may serve...

AI summary The document defines key terms related to electricity services and regulatory proceedings in Nova Scotia, including 'permanent service,' 'power factor,' 'premises,' and 'primary metering.' These definitions establish criteria for service termination, electrical measurements, and billing contexts within the regulatory framework.

PR-02 Cost Support for Proposed Regulation Changes Attachment 1 – AMI Opt-out Fee Development Attachment 2 – Miscellaneous Charges Development (Partially Confidential) Regulation 7.3 Schedule of Load Research Monitoring, Reporting and Anal...

AI summary The document outlines attachments related to AMI opt-out fee development and miscellaneous charges, alongside references to Regulation 7.3 concerning load research monitoring, reporting, and analytical charges. It pertains to cost support for proposed regulatory changes in Nova Scotia.

PR-03 Proposed Regulations Attachment 1a (Redline)/2a (Clean) - Regulation 1.1 Interpretation and Definitions Attachment 1b (Redline)/2b (Clean) – Regulation 5.1 Meter Reading Attachment 1c (Redline)/2c (Clean) – Regulation 7.1 Schedule of...

AI summary The document outlines four attachments related to PR-03 Proposed Regulations, including amendments to definitions, meter reading protocols, charge schedules, and load research charges. These updates aim to clarify regulatory frameworks and operational procedures under the Demand Side Management Cost Recovery Rider (DCRR) program.

2026-2027 GRA Direct Evidence Appendix 1B Page 4 of 4 REDACTED (CONFIDENTIAL INFORMATION REMOVED) OT Overtime OTE Overhead Transmission Equipment PCB Polychlorinated Biphenyls PCR Program Cost Recovery (for DSM) PHB Port Hawkesbury Biomass...

AI summary This document is an appendix from a 2026-2027 General Rate Application (GRA) proceeding in Nova Scotia, containing a list of acronyms and their expansions relevant to energy regulation, infrastructure, and financial terms. The content is redacted, with confidential information removed, and focuses on technical, operational, and regulatory terminology used in the proceeding.

2026-2027 GRA Direct Evidence Appendix 3A Page 4 of 14 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NS Power has undertaken an updated Cost of Service Study and Line Loss Study. This included an extensive consultation process. In accordance...

AI summary NS Power conducted updated Cost of Service and Line Loss Studies, following the Board's directive, with biannual stakeholder engagement updates since 2024. Studies are included in Appendices 12A, B, and C of the GRA.

11. Alternative Treatment of -16 MW in AGC The Board's directive on this item is set out at para. 482 of the 2023-2024 GRA Decision: Prior to the next GRA, NS Power is directed to explore alternative treatment of the - 16 MW requirement an...

AI summary The Nova Scotia Energy Board directed NS Power to explore alternative treatment of -16 MW in AGC to avoid double-charging transmission customers, as outlined in the 2023-2024 GRA Decision. NS Power addressed this in its report (SR-01 Attachment 1e).

14. Updated FAM Tariff In the NSEB's Decision and Order for approval of the 2024 FAM AA/BA Rider, the Board directed NS Power to amend the FAM Tariff language to account for the transition of customers moving both to and from FAM rates. Pa...

AI summary The NSEB directed NS Power to amend the FAM Tariff to address customer transitions between FAM rates, as outlined in Para. 52 of the 2024 FAM AA/BA Decision. Amendments must be submitted for approval in NS Power's next general rate application.

2026-2027 GRA Direct Evidence Appendix 3A Page 8 of 14 REDACTED (CONFIDENTIAL INFORMATION REMOVED) The FAM Tariff has been updated in accordance with the Board's directive and is included in PR-01 Attachments 1S and 2S (FAM Tariff) and the...

AI summary The FAM Tariff has been updated per the Board's directive, with revisions included in PR-01 Attachments 1S and 2S, and reflected in the Plan of Administration's Section 6.0 and Appendix 6B.

1.1. Nova Scotia Power Inc. NS Power is a full-service electric utility involved in all aspects of the electricity supply chain – generation, transmission, and distribution – across Nova Scotia. NS Power is a fully owned subsidiary of Emer...

AI summary Nova Scotia Power Inc. (NS Power) is a fully owned subsidiary of Emera Inc., providing electricity generation, transmission, and distribution across Nova Scotia. Regulated by the Nova Scotia Energy Board, NS Power uses diverse energy sources like hydro, coal, and wind to serve over 500,000 customers.

2026-2027 GRA Direct Evidence Appendix 3B Page 17 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Health & Safety Environment Business Sustainability Consequence Regulatory requirement breached. Critical safety incident requiring support...

AI summary The table outlines a criticality scale for incidents at NS Power, categorizing events based on health, environment, and business sustainability impacts. Consequences range from 'Critical' (e.g., fatalities, facility permit loss) to 'Minor' (e.g., first aid injuries, internal environmental releases). Factors like regulatory requirements, replacement energy costs, and system upgrades influence business sustainability rankings.

Operating Limitations There are many ways that managing the operation of a particular asset, or group of assets, in a new way, or modifying operating limitations on the asset, can be an effective form of risk mitigation. This measure is of...

AI summary Operating limitations are risk mitigation strategies that modify asset operations through updated procedures, training, or advisories. They prevent accelerated failure by restricting operations (e.g., reducing reservoir storage levels in aging dams). These measures may involve operational expenditures or capital investments depending on required modifications.

Asset Life Assessment An asset life assessment may be considered if drivers such as financial or regulatory requirements, or as described herein, significant anticipated climate impacts, do not support the other forms of risk mitigation ev...

AI summary Asset life assessments are conducted when factors like climate change or regulatory requirements make other risk mitigation strategies impractical. Outcomes may include refurbishment, replacement, or decommissioning, with decommissioning timelines potentially delayed. An example is a coastal power plant facing sea-level rise, necessitating decommissioning planning.

6. Step 6: Develop a Business Case for Selected Measures This section overviews the procedure for prioritizing recommended adaptation measures. NS Power has robust existing operating and capital expenditure budgeting processes. Adaptation...

AI summary NS Power integrates climate adaptation into existing operating and capital expenditure processes. Measures are selected based on cost, implementation ease, risk mitigation effectiveness, and asset mission. Risk management plans undergo approval by asset teams, management, and regulators. The CEJC process uses a 5x5 risk matrix to prioritize capital expenditures, with detailed criteria outlined in a 2023 document submitted to the Nova Scotia Utility and Review Board.

2026-2027 GRA Direct Evidence Appendix 3B Page 43 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED) CRITICALTY VALUE RISK MATRIX 5 5 10 15 20 25 4 4 8 12 16 20 3 3 6 9 12 15 2 2 4 6 8 10 • 1 2 3 4 5 1 2 3 4 5 Rare Unlikely Possible CONDITI...

AI summary The document outlines a risk matrix from NS Power's CEJC Summary Document, categorizing risks based on criticality and likelihood. It emphasizes the use of an Economic Analysis Model (EAM) for recommendations requiring economic analysis, approved by the Nova Scotia Energy Board through the CEJC process, considering factors like payback period and time-value of money.

2026-2027 GRA Direct Evidence Appendix 3B Page 52 of 54 REDACTED (CONFIDENTIAL INFORMATION REMOVED) circulating water system caused by an excessive growth of zebra mussels. Warmer water temperature and large storms, related to climate chan...

AI summary The text discusses climate change impacts on water systems via zebra mussel growth due to warmer temperatures and storms. It outlines asset management processes, including Root Cause Analysis (RCA) for outage events and risk scoring updates by asset reliability teams.

2026-2027 GRA Direct Evidence Appendix 3C Page 9 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary This document is a redacted page from Appendix 3C of the 2026-2027 General Rate Application (GRA) proceeding. It contains confidential information removed, focusing on regulatory evidence related to cost recovery, rate design, and energy management programs in Nova Scotia.

3.1 Enhanced Risk Profiling

AI summary The section '3.1 Enhanced Risk Profiling' is part of a regulatory proceeding document, but no detailed content is provided beyond a list of acronyms related to energy regulation, utility operations, and environmental legislation.

Quality assurance / quality control of inspections NS Power uses a two-parts quality program. The first is quality control for the regular inspection programs to ensure they are being performed as planned and the inspectors are well-aligne...

AI summary NS Power employs a two-part quality program: one for regular inspection programs ensuring alignment with criteria, and another for post-completion capital project checks (e.g., verifying correct design/installation). This applies to both transmission and distribution, with ongoing improvements focused on distribution's post-construction quality control.

Crew‐accompanying ignition prevention and suppression resources and services Those firefighting staff and equipment (such as fire suppression engines and trailers, firefighting hose, valves, and water) that are deployed on construction cre...

AI summary NS Power crews use fire suppression equipment for small fires during construction but rely on firefighters for larger incidents. The Forestry team ensures contractors comply with NS Forest Fire Protection Regulations by providing necessary equipment at the start of the fire season.

Safety Communication: Afterglow on CCA Poles NS Power primarily utilizes wood poles treated with Chromated Copper Arsenate (CCA) for new installations. These poles have a characteristic known as Afterglow, where the heavy metal preservativ...

AI summary NS Power uses CCA-treated wood poles, which can re-ignite after fires due to Afterglow. Safety measures include handling precautions and removal protocols to prevent re-ignition and ensure worker safety.

2026-2027 GRA Direct Evidence Appendix 3C Page 38 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Innovation (CEATI), such as the Asset Management in Generation (AMIG), Overhead Transmission Equipment (OTE) group and the Vegetation Manag...

AI summary NS Power collaborates with CEATI and other organizations on climate adaptation, including wildfire mitigation. It contributes to CSA standards and follows CEA guidelines for wildfire prevention. References include CEA, BPA, and SDG&E mitigation plans.

5 1.1.1 Solid Fuel 6 7 Although NS Power's reliance on thennal generation continues to decrease and the Nova Scotia 8 Government's legislated 1 goal to phase out coal-fired electricity generation by 2030, solid fuel 9 continues to comprise...

AI summary NS Power continues to rely on solid fuel despite decreasing thermal generation and the Nova Scotia Government's 2030 coal phase-out goal. Solid fuel remains a significant part of forecast requirements, with procurement from foreign suppliers and financial hedging strategies. Further details on procurement and hedging are outlined in Sections 1.2.2 and 1.4.

REDACTED 2026-2027 GRA Direct Evidence Appendix SA Page 14 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary Redacted page from a 2026-2027 GRA Direct Evidence Appendix in a Nova Scotia regulatory proceeding. Contains confidential information removed, with a list of acronyms related to energy regulation, cost recovery, and operational metrics.

1 Figure 10 - 2025 Breakdown of BCF by Fuel and Purchased Power Type REDACTED 2026-2027 GRA Direct Evidence Appendix SA Page 15 of 38

AI summary Figure 10 from the 2025 BCF breakdown by fuel and purchased power type is part of the 2026-2027 GRA Direct Evidence Appendix SA. It provides a visual representation of fuel cost allocation, contextualized within Nova Scotia's energy regulatory proceedings.

10 1.2.2 Solid Fuel Portfolio 11 12 fu accordance with its Fuel Manual, NS Power procures and manages a reliable and competitively 13 priced supply of fuel on a system-wide evaluated cost basis for its generation fleet, consistent with 14...

AI summary NS Power manages a solid fuel portfolio under its Fuel Manual, ensuring reliable and competitively priced fuel supply aligned with regulatory and environmental standards. The portfolio approach is detailed in standardized filing appendices.

12 1.2.4 Environmental Compliance 13 14 NS Power is required to manage air emissions within annual limits set by regulation. The air 15 emission compliance limits specified in the Air Quality Regulations 3 were amended November 16 21, 2014...

AI summary NS Power must manage air emissions under amended Air Quality Regulations, which set annual caps for SO2, NOx, and Hg, with references to figures and a fuel stability plan. Amendments were made in 2014, 2015, and 2020, with compliance limits outlined in Standard Filing OP-14.

1 1.2.8 Renewable Energy 2 3 1.2.8.1 NS Power-Owned Renewables 4 5 The renewable energy generated by NS Power comes from hydro, wind, biomass and solar. The 6 level of hydro generation forecast for 2026-2027 is based on a 23-year rolling a...

AI summary NS Power's renewable energy includes hydro, wind, biomass, and solar. Hydro forecasts for 2026-2027 use a 23-year average (925 GWh), while wind forecasts use a 3-year average (224 GWh). The Port Hawkesbury Biomass Plant (PHB) supplies renewable energy and steam to Port Hawkesbury Paper (PHP), with biomass management practices aligned with FAM guidelines and a 2016 Board letter. Revision 14 of the Fuel Manual is in OE-01F.

REDACTED 2026-2027 GRA Direct Evidence Appendix 5A Page 28 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - 1 provide contracted supplies or because of problems arising from NS Power's renewable generation - 2 assets, NS Power must supp...

AI summary NS Power is required to supply renewable electricity to meet compliance standards, with a 12-month grace period before seeking ministerial permission for alternative sources. The RES Compliance forecast for 2026-2027 is referenced in Figure 21, highlighting obligations related to renewable energy supply and potential regulatory interventions.

18 1.4 HEDGING PLAN 19 20 Fuel costs are subject to a variety of risks including commodity market, volumetric, basis, and 21 counterparty risk. Reducing market exposure through physical and financial hedges enables the 22 Company to manage...

AI summary NS Power's Fuel Hedging Plan (FHP) was filed in 2016 under the Electricity Plan Implementation (2015) Act to manage fuel cost volatility through physical and financial hedging. The FHP was approved by the Board for the 2017-2019 Rate Stabilization Period.

Dear Dave Pickles: Thank you for your letter dated March 24, 2025, where you requested flexibility in the sulphur dioxide emission caps as written in the Air Quality Regulations. This correspondence is in response to the request for flexib...

AI summary The Minister approves a certificate of variance for NSPI to adjust sulphur dioxide emission caps, ensuring net-neutral environmental impact through a recovery plan. The decision is based on four factors: net-neutral emissions, over-emission recovery by 2034, cost stability for rate-payers, and grid reliability. The approval aligns with Section 61 of the Environment Act, which allows variances if they avoid adverse effects.

1.4.4 Removal of Appendix D "FAM Regulatory Calendar" NS Power is requesting that the NSEB agree to remove the requirement to include a calendar in the POA. Appendix D, when drafted, includes dates and processes that are unknown at the tim...

AI summary NS Power requests the NSEB to remove Appendix D from the POA, arguing it contains unreliable dates and processes for FAM-related activities. Known timelines (e.g., reporting) are in section 4.0, while Hearing Orders specify dates for audits and proceedings. NS Power asserts Hearing Orders are the accurate resource for stakeholders.

Fuel Adjustment Mechanism Plan of Administration in Effect for 2026-2027 May 28, 2025

AI summary This document outlines the Fuel Adjustment Mechanism (FAM) plan effective for 2026-2027, part of a Nova Scotia regulatory proceeding. It details the administration of fuel cost adjustments, aligning with climate goals and energy regulations.

3.2 Allowable Fuel and Purchased-Power Costs This section of the POA provides a framework for the fuel and purchased-power costs eligible for recovery through the FAM. Those costs will include allowable fuel expenses plus purchased-power e...

AI summary The section outlines allowable fuel and purchased-power costs recoverable via the FAM, including normal expenses and discrepancies supported by evidence. Exceptional costs are reviewed by the Small Working Group. NS Power acknowledges audit and NSEB approval requirements.

3.2.5 Light Starter Oil - LFO (Light Fuel Oil) Commodity Consumed - Transportation Cost - Quality Testing and Inventory Measurement Costs - GHG Emission Compliance Program costs Costs of this type are normally recorded in the following acc...

AI summary This section outlines costs related to Light Fuel Oil (LFO) including transportation, quality testing, inventory measurement, and GHG compliance. These costs are recorded in specific accounts within NS Power's Chart of Accounts, such as 502550 REG FUEL LIGHT OIL CONSUMED.

3.2.10 Fuel – Mercury Sorbent - Additives Powder Activated Carbon (PAC) and Calcium Chloride - Transportation Costs - Costs relating to a Hg (mercury) Diversion Program that has been approved by the Minister of Environment under the Air Qu...

AI summary The section outlines costs related to mercury sorbent, including additives like PAC and Calcium Chloride, transportation expenses, and a mercury diversion program approved under the Air Quality Regulations. These costs are recorded in specific accounts in NS Power's Chart of Accounts.

Annual Filing Requirements for Fuel Adjustment Rider For the years 2026 and 2027 NS Power will submit as required a Fuel Adjustment Mechanism Formula filing for the AA and BA, which shall provide a forecast of general system requirements a...

AI summary NS Power is required to submit Fuel Adjustment Mechanism Formula filings for 2026 and 2027, including forecasts of general system requirements and proposed calculations for the Fuel Adjustment Mechanism Formula. These filings pertain to Actual Adjustment (AA) and Balance Adjustment (BA) components.

Annual Filing Requirements for Base Cost of Fuel Forecast For each year in which NS Power applies to adjust the Base Cost of Fuel, a load forecast, Base Cost of Fuel and net system requirement forecast filing for the upcoming FAM year (Jan...

AI summary NS Power must submit annual filings for Base Cost of Fuel forecasts using standardized templates from Appendix B and C. The Board considers stakeholder input and approved methodologies, with quarterly and monthly reporting requirements. Changes to templates require Board approval.

Objectives and Scope of the Audit The overall objective of the FAM audit will be to examine operational and managerial aspects of the fuel and energy procurement, management, and production functions and activities of NS Power, including a...

AI summary The FAM audit aims to review NS Power's fuel and energy procurement, management, and production practices, including affiliate transactions, ensuring adherence to good utility practices and policies outlined in the NS Power Fuel Manual.

2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 30 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Base Cost of Fuel Component – BCF: is the Base Cost of Fuel per kWh (¢/kWh) included in NS Power's rates. Business Day: is any day...

AI summary Defines terms related to Nova Scotia Power's rate structures, including Base Cost of Fuel (BCF), compliance filings, export sales, and fuel cost recovery mechanisms. Highlights the calculation of fuel costs recovered through BCF and the components of General Rate Applications.

2026-2027 GRA Direct Evidence Appendix 6B (Clean) Page 32 of 33 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Prior Year's Accumulated Interest: the interest accumulated over the previous year on the balance in the 'Balancing Account' to be...

AI summary The document defines financial and operational terms for the 2026-2027 GRA, including interest recovery, balance adjustments, purchased power, system requirements, real-time pricing charges, and water royalties. These terms are part of a regulatory proceeding in Nova Scotia.

3.1 Treatment of load migrating tobetween FAM/non-FAM classes When a customer transitions some or all of its load from abetween FAM-class to and non-FAM classes, NS Power shall treatdetermine the customer's outstanding fuel cost imbalance...

AI summary When customers migrate load between FAM and non-FAM classes, NS Power must calculate fuel cost imbalances using Special Condition 3 of the FAM Tariff. Adjustments are based on UARB decisions in subsequent proceedings and require UARB approval. Payment terms for imbalances must be agreed upon by NS Power and the customer, with carrying costs applied if unresolved.

3.2.10 Fuel – Mercury Sorbent - Additives Powder Activated Carbon (PAC) and Calcium Chloride - Transportation Costs - Costs relating to a Hg (mercury) Diversion Program that has been approved by the Minister of Environment under the Air Qu...

AI summary The section outlines costs related to mercury (Hg) sorbent, including additives like Powder Activated Carbon (PAC) and Calcium Chloride, transportation expenses, and a mercury diversion program approved under Nova Scotia's Air Quality Regulations (N.S. Reg. 28/2005). These costs are recorded in specific accounts within NS Power's Chart of Accounts.

Annual Filing Requirements for Fuel Adjustment Rider In For the years 2023 2026 and 2024 2027 NS Power will submit as required by Appendix "D" a Fuel Adjustment Mechanism Formula filing for the AA and BA, which shall provide a forecast of...

AI summary Nova Scotia Power must submit Fuel Adjustment Mechanism Formula filings for Actual Adjustment (AA) and Balance Adjustment (BA) from 2023 to 2027, including forecasts of general system requirements and proposed calculations.

Annual Filing Requirements for Base Cost of Fuel Forecast For each year in which NS Power applies to adjust the Base Cost of Fuel, a load forecast, Base Cost of Fuel and net system requirement forecast filing for the upcoming FAM year (Jan...

AI summary NS Power must submit annual, quarterly, and monthly filings using standardized templates for Base Cost of Fuel forecasts, with stakeholder input required for revisions. The Board considers fuel forecasts and stakeholder comments when setting annual rates. Templates are approved by the Board's May 15, 2007 order.

6.0 STAKEHOLDER REVIEW AND DISCOVERY Monthly, quarterly and annual non-confidential and confidential reporting will be available for access and viewing. NS Power confidential reporting will be available electronically or in a confidential...

AI summary The document outlines stakeholder access to non-confidential and confidential reports, including monthly, quarterly, and annual data. Confidential information requires a Confidentiality Agreement. Stakeholders may challenge NS Power's fuel costs, methodology, and forecasts during hearings, with support documentation provided for the Base Cost of Fuel forecast. Appendix C and D detail reporting templates and the FAM process calendar.

APPENDIX 7A – OM&G COSTS BY GROUP APPE: NDIX 7A – OM&G COSTS BY GROUP 1 1.1 OM&G Costs by Group 2 1.2 Inflationary Increases 6 1.3 Power Production 6 1.4 Enterprise Asset Management and Project Implementation 10 1.5 Energy Delivery 11 1.5....

AI summary Appendix 7A details the categorization of OM&G (Operations, Maintenance, and General) costs across groups such as inflationary increases, power production, enterprise asset management, energy delivery, customer experience, environmental services, and corporate adjustments. It outlines subsections including T&D contractor management, grid modernization, cyber security, and executive compensation.

OM&G Costs by Group OM&G costs by group are discussed in this document. Appendix 7C provides a Variance Analysis by Account comparing annual OM&G expenditures in the 2023-2024 GRA Compliance Filing forecast for 2024 (reflecting expenses in...

AI summary The document discusses OM&G costs by group, including a variance analysis comparing 2024 OM&G expenditures (under the NSUARB-approved 2023-2024 GRA Settlement Agreement) to 2026-2027 forecasts. NS Power's OM&G costs are categorized into five operating groups, corporate groups, and adjustments, with detailed descriptions of each group's functions.

1.5.6 NSIESO Transition As noted above, NS Power has forecast costs to be removed from its 2026 and 2027 revenue requirement due to the transition of some current NS Power responsibilities to the NSIESO. The forecast assumes this will occu...

AI summary NS Power forecasts costs related to transitioning responsibilities to NSIESO in 2026 and 2027, impacting revenue requirements. The phased transition includes generation interconnection and system planning in 2026, and Control Centre operations in 2027. NS Power will seek recovery or refund from NSEB once the transition is complete, though timing depends on NSIESO management appointments and plan refinement.

1.8.7 Regulatory Affairs Regulatory Affairs expense was $9.4 million in 2024, an increase of $2.4 million from the restated 2024 GRA Compliance forecast of $7.0 million. The increased costs consist of $1.9 million of consulting expense, $0...

AI summary Regulatory Affairs expenses increased to $9.4 million in 2024 due to higher regulatory proceedings volume. NS Power plans to increase costs by inflation rates for 2026-2027 and defer certain GRA-related costs to 2026-2027.

1.9.1 Executive Compensation Report Section 64B (2) of the PUA provides as follows: Recovery of executive remuneration 64B (1) In this Section, "report" means the report required by subsection (2). (2) Nova Scotia Power Incorporated shall...

AI summary Nova Scotia Power Incorporated is required by Section 64B (2) of the PUA to submit an executive compensation report to the Board, detailing executive employees' positions and remuneration recoverable in electricity rates, with the report attached as Board Confidential Appendix 7E.

APPENDIX 7E EXECUTIVE COMPENSATION REPORT REDACTED Pursuant to Section 64(B)(2)(b) of the Public Utilities Act (Act), Nova Scotia Power Incorporated (NS Power) is required to submit a report with the Nova Scotia Energy Board with each appl...

AI summary Nova Scotia Power Inc. (NSPI) must submit executive compensation reports to the Nova Scotia Energy Board (NSEB) under Section 64(B)(2)(b) of the Public Utilities Act. Executives include roles at the General Manager level and above, though no General Managers are currently in the executive group.

sultation with local and Mi’kmaw communities, regulatory requirements (CCTH), as well as environmental requirements and engineering results, may also affect the costs presented in this document. It must be considered, the costings provided...

AI summary The costing study acknowledges that costs are based on incomplete data and may vary with real-world scenarios. Boreas Heritage notes that CCTH must determine if proposed areas overlap with archaeological concerns, which could affect final costs.

during this study. Reference was made to existing reports only. Obtaining budgetary estimates from third parties. Estimated costs were based on experience and judgement of evaluators. The framework for demolition and remediation of the sit...

AI summary The text outlines the assumptions and methodology used in estimating the costs for the demolition and remediation of industrial sites, referencing the CCME guidelines and noting the exclusion of certain factors like salvage value and sampling for hazardous materials.

58,056 Fill materials, seeding, fencing, clay barriers, final grading after equipment has been removed from the LM6000 footorint. No sianificant chanae since 2020· therefore aoolv inflation factor. In-Program Contaminant Monitoring 29,028...

AI summary The text outlines various activities and considerations related to the decommissioning and long-term monitoring of LM6000 footprints, including fill materials, environmental monitoring, reporting requirements, and regulatory approvals. Inflation factors are applied as there have been no significant changes since 2020.

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

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

i. Political Risk NSPI is also subject to significant political risk, as evidenced by the legislation that was passed following the hearing in the previous GRA but prior to the UARB's order, when the Provincial government placed a cap on t...

AI summary NSPI faces significant political risk due to provincial legislation capping its authorized ROE and equity ratio, as noted by DBRS and S&P Global. This intervention raises concerns about cost recovery and ROE, increasing the company's cost of capital and negatively impacting both customers and the utility.

5 d. Regulatory Environment 6 UBS ranks regulatory jurisdictions in the U.S. and Canada for purposes of determining whether 7 to apply valuation discounts or premiums to the utility stocks it covers. Specifically, UBS places 8 regulatory j...

AI summary Nova Scotia's regulatory environment is ranked in tier three by UBS, with low credit supportiveness according to S&P Global. DBRS Morningstar also rates it poorly, noting declines in political interference and rate freeze ratings since 2020.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1049 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to MEU Data Requests

AI summary This document outlines the Cost of Service Study Process as part of the NSUARB M11475 proceeding, focusing on NSPI's responses to data requests from the Market Efficiency Unit.

PAC 2015 The PAC systems were run to achieve compliance in [Year]. Emissions were closely monitored to optimize injection rates. Final performance of [##] kg was achieved within the target period.

AI summary The PAC 2015 systems were operated to ensure compliance in [Year], with emissions closely monitored to optimize injection rates, achieving a final performance of [##] kg within the target period.

January 2023 MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY SUNDAY 5 6 NOTES Assumes biennial FAM Audit in 2024 for 2022-2023 Actual date to be determined by NSUARB MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY SUNDAY 29 30 31 1 2 3...

AI summary The document outlines a calendar of events related to the FAM Audit and reporting schedules for 2023 and 2024, including audit dates, report submissions, and meetings. It also notes that actual dates are subject to determination by the NSUARB.

Management's Discussion & Analysis As at August 8, 2025 Management's Discussion & Analysis ("MD&A") provides a review of the results of operations of Nova Scotia Power Inc. during the second quarter of, and year-to-date 2024 relative to th...

AI summary The MD&A reviews NSPI's operational results and financial position as of June 30, 2025, noting adherence to USGAAP and the NSEB's oversight of accounting policies. Financial statements are available on SEDAR+.

Regulatory Arrangements In Q1 2023, the Barbados regulator requested an additional compliance filling before setting final rates. BLPC requested and was granted a review of the decision. The FTC dismissed BLPC's motion for review, which th...

AI summary In Q1 2023, Barbados' regulator requested additional compliance filings before finalizing rates. BLPC sought a review, which was dismissed by the FTC. The utility appealed to the High Court, and a stay was granted until the court determines the matter, keeping interim rates in effect.

Key initiatives - Risk oversight, including material ESG risks, at the Emera and operating company boards - Annual Board effectiveness evaluation - Commitments at Emera and operating company boards to diversity and inclusion - Annual say-o...

AI summary The key initiatives outlined include risk oversight, diversity and inclusion commitments, board effectiveness evaluations, say-on-pay votes, cybersecurity protocols, and annual code of conduct training at Emera and its operating companies.

RESTRICTION ON SHARE OWNERSHIP AND VOTING Under Nova Scotia legislation, no Emera shareholder may own or control, directly or indirectly, more than 15 per cent of the outstanding voting shares. This restriction may be enforced by limiting...

AI summary Nova Scotia legislation limits Emera shareholders to owning or controlling no more than 15% of outstanding voting shares. Non-compliant shareholders may face restrictions on voting, dividend, and transfer rights. Shareholders must provide a statutory declaration to verify compliance with this restriction.

Highlights of Emera's Corporate Governance Practices Director Independence. All Emera Directors are independent from management, except Emera's President and CEO. Board and Committee Leadership. The Charter of the Chair of the Board and po...

AI summary The document outlines Emera's corporate governance practices, emphasizing director independence, board structure, risk management, shareholder engagement, and ongoing director education. It highlights the separation of the CEO and board chair roles, the rigorous risk management process, and the share ownership requirements for directors.

CLIMATE PROGRESS Building on its strong decarbonization track record, Emera continues its carbon reduction efforts while managing the physical risks of climate change as we invest in a resilient grid for our customers. The Board of Directo...

AI summary Emera is advancing its decarbonization efforts and managing climate-related risks through the SRC, which reports to the Board of Directors. The company is investing in grid modernization, renewable energy integration, and technological innovation to deliver reliable, cleaner energy while complying with government climate policies.

RSC Members (to February 21, 2025): Jochen E. Tilk (Chair) B. Lynn Loewen Brian J. Porter lan E. Robertson Karen H. Sheriff - RSC members were 100% Independent - RSC met in camera without management at every Committee meeting in 2024 The r...

AI summary The RSC, composed of 100% independent members, met in camera without management in 2024. The committee oversaw risk management and sustainability, reviewing cybersecurity, risk frameworks, sustainability reports, compliance programs, and climate-related disclosures, including Bill C-59 Anti-Greenwashing provisions.

- 1. To maintain its current return on common equity of 9.0%, with an earnings band of 8.75% to 9.25%. The common equity ratio would also remain at 40%. - 2. The BCF amounts attributable to FAM customers be set at $927.3 million for 2026 a...

AI summary Nova Scotia Power Inc. (NSP) proposes maintaining a 9.0% return on common equity, setting BCF amounts for 2026-2027, administrative amendments, deferring study costs, a securitization approach to save $90M, potential interest expense deferrals, a Port Hawkesbury Paper deferral, and an updated depreciation study excluding certain assets.

ENFORCEMENT AND TICKETS Police are writing about half the number oftickets they did in 2016 and Coun. Kathryn Morse (Halifax - Bedford Basin West) wanted to know why. "It sounds liketicketsweredown by half if we're going back to 2016 andou...

AI summary The text discusses a decrease in traffic tickets issued by Halifax Regional Police (HRP) compared to 2016, despite population growth. Councilor Kathryn Morse questions reduced enforcement, while HRP's Robertson cites recruitment challenges and COVID impacts. Ticket numbers increased slightly in 2024 (5,030 vs. 4,894 in 2023) but remain lower than 2016 levels (21,000 vs. 11,000). The traffic unit issues 35-50% of all tickets.

Rating Action Rationale On Feb. 2, 2023, the NSUARB issued a rate order that was generally consistent with NSPI's settlement agreement. Prior to the NSUARB's order, the company reached a settlement agreement with various stakeholders align...

AI summary The NSUARB issued a rate order aligning with NSPI's settlement agreement under Bill 212, limiting non-fuel rate increases to 1.8% through 2024. However, S&P Global Ratings viewed Bill 212 as political interference that undermined regulatory independence and increased uncertainty for utilities and stakeholders, negatively impacting NSPI's credit quality.

2026-2027 GRA Cleary IR-1 Attachment 7 Page 5 of 5 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Inc. Copyright © 2024 by Standard & Poor's Financial Services LLC. All rights reserved. No content (including ratings, credit-...

AI summary This document outlines the copyright and usage restrictions for content provided by Standard & Poor's Financial Services LLC, emphasizing that the content cannot be modified, reproduced, or used without prior permission. It also disclaims any warranties or liabilities associated with the use of the content.

Page 9 of 14 Assessment of Regulatory Framework 3. Energy Cost Recovery Excellent Good Satisfactory Below Average Poor Fuel costs are passed through to the customers through the FAM, and rates change annually to account for variances betwe...

AI summary The document discusses the regulatory framework for energy cost recovery, capital and operating cost recovery, the COS versus incentive rate mechanism, and political interference. Fuel costs are recovered through the FAM, with variances deferred to a FAM regulatory asset or liability. Capital costs are recovered through rates after regulatory approval, and NSPI operates under a COS model. The Electricity Reform Act and Electricity Plan Act have had a modest impact on NSPI.

Page 12 of 13 Assessment of Regulatory Framework Criteria Score Analysis Page 12 of 13 1. Deemed Equity Page 12 of 13 Page 12 of 13 Excellent Good Satisfactory Below Average Poor NSPI's target-regulated ROE is based on an actual five-quart...

AI summary The document evaluates the regulatory framework for Nova Scotia Power Inc. (NSPI), focusing on deemed equity, allowed return on equity (ROE), energy cost recovery, and political interference. Key points include a cap on deemed equity and ROE under Bill 212, the use of the Fuel Adjustment Mechanism (FAM) for cost recovery, and the impact of political interventions on the regulatory environment.

REDACTED 1 Request IR-9: 2 3 Reference: N-6 - 2026-2027 GRA Direct Evidence Appendix 7C Page 5-6 of 58 4 - 5 Per N-6, (Appendix 7C), page 5-6 of 58, we understand that for "General Counsel, - 6 Corporate Secretary, and Insurance", insuranc...

AI summary The request asks for a summary of the most recent insurance premiums for 'General Counsel, Corporate Secretary, and Insurance' as outlined in N-6, Appendix 7C, page 5-6 of 58. The response indicates that a summary will be provided, but the content of the summary is not included in the text.

3 Nova Scotia Power Asset Management Framework NS Power's Asset Management Framework encompasses all elements of its Asset Management approach, including tools, people, and processes. It provides a structure whereby asset "mission" (what i...

AI summary NS Power's Asset Management Framework includes tools, people, processes, and integration with enterprise-wide initiatives such as climate change planning, load growth, renewable integration, and demand-side management. It is aligned with ISO 55000 and the IAM model, with the EAM division leading these efforts.

4.3 Risks to the achievement of objectives As with all organizations, there are risks to the achievement of both Organizational objectives and Asset Management objectives. - Human Resources and Competency Ensuring that competent resources...

AI summary The document outlines risks to achieving organizational and asset management objectives, including human resource challenges, aging assets, affordability concerns, and regulatory changes. The Energy Reform Act is highlighted as a significant legislative change impacting NS Power's structure and operations.

5.1.1 Other Regulations Along with common technical, safety, and environmental regulations, NS Power is bound by requirements associated with, but not limited to: - Nova Scotia Power Incorporated Performance Standards Regulations, - Nova S...

AI summary NS Power must comply with various technical, safety, and environmental regulations, including performance standards, renewable electricity regulations, air quality regulations, and reliability standards set by NERC and NPCC. These regulations impact system design, operation, communication, reserve capacity, and security requirements.

Mapping of ISO 55000 to NSP Asset Management System Elements IAM 6-Box Conceptual AM Model NSPI Reference Associated Processes / Systems 9.3 Management Review Risk & Review SAMP Section 10 - Improvement Performance Standards, NERC, BSC, FA...

AI summary This document maps elements of the ISO 55000 standard to the Nova Scotia Power (NSP) Asset Management System. It includes references to processes such as risk and review, performance standards, and systems like the Strategic Asset Management Plan (SAMP) and the Balanced Scorecard (BSC).

2026-2027 General Rate Application (M12451) NSPI Responses to MPA Information Requests

AI summary This document outlines NSPI's responses to information requests from the MPA related to its 2026-2027 General Rate Application (M12451). It is part of the regulatory process for reviewing and approving utility rates in Nova Scotia.

Regulatory and Political Risk NSPI is subject to complex legislative and regulatory frameworks that impact matters such as industry, business, rates and cost structures, revenue requirements, allowable ROE, capital structure, rate base and...

AI summary NSPI operates under a complex regulatory framework that affects its rates, costs, and operations. Regulatory approval is required for rate changes, and delays or disallowances could cause financial harm. Changes in government or policy could also impact regulatory stability and outcomes, potentially leading to a Material Adverse Effect.

Environmental Legislation and Climate Change NSPI is subject to environmental laws and regulations as set by both the Government of Canada and the Province of Nova Scotia (the "Province"). NSPI continues to work with both levels of governm...

AI summary NSPI must comply with environmental laws from Canada and Nova Scotia, which may increase costs and pose operational risks. NSPI expects to recover these costs through its regulatory framework and continues to collaborate with government to manage emissions and minimize customer impact.

Nova Scotia Energy Reform Act: On April 5, 2024, the Province enacted Bill 404 - Energy Reform (2024) Act . The legislation enacted the Energy and Regulatory Board Act, which established the Nova Scotia Energy Board ("NSEB"). The NSEB is a...

AI summary On April 5, 2024, Bill 404 - Energy Reform (2024) Act was enacted, establishing the Nova Scotia Energy Board (NSEB) and the More Access to Energy Act, which introduces the Nova Scotia Independent Energy System Operator. NSPI is collaborating with the Province on these initiatives.

Tax Legislation On June 20, 2024, Bill C-59, an Act to implement certain provisions of the fall economic statement tabled in Parliament on November 21, 2023, and certain provisions of the budget tabled in Parliament on March 28, 2023, was...

AI summary Bill C-59, enacted on June 20, 2024, introduced the EIFEL regime, which limits a company's net interest and financing expense deduction to 30% of earnings before interest, income taxes, depreciation, and amortization. The regime is effective from January 1, 2024, and denied expenses can be carried forward indefinitely. No financial statement impacts are expected as of December 31, 2024.

FAM and FAM Regulatory Deferral NSPI has a UARB approved FAM, allowing NSPI to recover fluctuating fuel and certain fuel-related costs from customers through annual fuel rate adjustments. Differences between prudently incurred fuel costs a...

AI summary NSPI has a UARB-approved FAM allowing recovery of fuel costs from customers. Recent developments include the sale of a portion of the FAM regulatory asset to Invest Nova Scotia, the refund of $4 million to customers following audit findings, and an ongoing regulatory process related to audit results for fiscal 2022 and 2023.

These and new or revised environmental laws, regulations, policies, or interpretations of those laws, regulations or policies could result in a Material Adverse Effect by, among other things, preventing or delaying the development of energ...

AI summary The text discusses potential Material Adverse Effects due to environmental laws and regulations, including delays in energy projects, restrictions on facilities, early retirement of coal-fired generation, compliance costs, and penalties for non-compliance. These effects could increase capital investments, impose operating costs, and affect the economic viability of certain operations.

Weather Risk A Material Adverse Effect may arise from weather seasonal variations impacting energy consumption, as well as severe weather events, changing air temperatures, wildfires and other severe weather conditions that are expected to...

AI summary The text discusses the risks posed by weather variations and severe weather events to Nova Scotia Power Inc. (NSPI), including impacts on energy consumption, infrastructure damage, service outages, and potential financial losses. These risks are exacerbated by climate change and may lead to a Material Adverse Effect if not mitigated through insurance or regulatory processes.

22 (b) Please see the table below: Year Regulatory Affairs Expense ($ million) GRA and COSS Costs ($ million) 2020 7.3 - 2021 6.0 - 2022 11.7 3.7 2023 7.5 0.3 2024 9.4 0.5 2025F 9.3 1.5 2026F 9.5 - 2027F 9.7 - NON-CONFIDENTIAL Year Regulat...

AI summary The text presents a table showing Regulatory Affairs Expense and GRA and COSS Costs from 2020 to 2030, with some years showing negative values or missing data. The data is labeled as non-confidential.

Page 12 of 13 Assessment of Regulatory Framework Page 12 of 13 Criteria Score Analysis Page 12 of 13 1. Deemed Equity Page 12 of 13 Page 12 of 13 Excellent Good Satisfactory Below Average Poor NSPI's target-regulated ROE is based on an act...

AI summary The document assesses the regulatory framework for NSPI, focusing on deemed equity, allowed ROE, energy cost recovery, capital and operating cost recovery, COS versus incentive rate mechanisms, political interference, stranded cost recovery, and rate freezes. Bill 212 is highlighted as a key legislative change impacting NSPI's regulatory environment and cost recovery mechanisms.

1 66 of its Report, the design of NSPI's FAM, including the bi-annual audit and the 2 associated regulatory lag, translate into elevated risk on this factor relative to its 3 Canadian and U.S. peers. These transactions do not alter this co...

AI summary The document discusses the impact of the Bank of Canada's interest rate changes and the Energy Reform (2024) Act on NSPI's operational and financial risks. It highlights that while short-term interest rates have decreased, long-term rates have increased, affecting NSPI's cost of capital. The creation of the Nova Scotia Independent Energy System Operator (NSIESO) under the Energy Reform Act introduces regulatory and operational changes, increasing uncertainty for investors.

26 portion of NS Power's rate base (approximately 12% of ending 2025 rate base). On 27 balance, Concentric views the securitization plan as a mechanism that will improve 28 NS Power's credit metrics, provide a benefit to customers through...

AI summary Concentric discusses its securitization plan, which it believes will improve NS Power's credit metrics, lower customer rates, and support the Province's energy transition. The plan addresses risks and impacts related to FAM, Bank of Canada actions, and the Energy Reform (2024) Act in its cost of capital analysis.

3 Nova Scotia Power Asset Management Framework NS Power's Asset Management Framework encompasses all elements of its Asset Management approach, including tools, people, and processes. It provides a structure whereby asset "mission" (what i...

AI summary NS Power's Asset Management Framework outlines its approach to managing assets, including tools, people, and processes. It identifies asset missions and risks, and integrates with enterprise-wide initiatives, including regulatory deliverables, planning for climate change, load growth, renewable integration, and demand-side management.

5.1.1 Other Regulations Along with common technical, safety, and environmental regulations, NS Power is bound by requirements associated with, but not limited to: - Nova Scotia Power Incorporated Performance Standards Regulations, - Nova S...

AI summary NS Power must comply with various regulations, including performance standards, renewable electricity, air quality, and activities designation regulations, as well as reliability standards from NERC and NPCC. These regulations affect system design, operation, communication, reserve capacity, and security requirements.

Regulatory Specialist (Consultant) November 2012 – July 2015 AltaLink L.P. - Drafted or coordinated the drafting of AltaLink's 2012/2013 Deferral Account Application and 2015/2016 GTA, including responses to information requests, updates t...

AI summary The individual served as a Regulatory Specialist for AltaLink L.P. from 2012 to 2015, drafting and coordinating various regulatory applications, assisting in proceedings, and improving internal processes related to reporting and cost management.

Appendix C – Statement of Qualifications & CV of Pelino Colaiacovo Pelino Colaiacovo – Statement of Qualifications Pelino Colaiacovo has been a Managing Director at MPA Morrison Park Advisors Inc. since 2005. As Head of the Energy Transiti...

AI summary Pelino Colaiacovo is a Managing Director at MPA Morrison Park Advisors Inc., specializing in energy transition and utilities. He has advised governments and corporations on energy policy and financial modeling, and has appeared before various regulatory bodies, including the Manitoba PUB and Nova Scotia Utilities and Review Board, on matters related to energy agreements and infrastructure projects.

Regulatory advisory experience Since 2012, Angie has advised regulatory bodies across Canada. Some examples include: - Board of Commissioners of Public Utilities Newfoundland & Labrador – Financial consultant including: - − Review of GRA f...

AI summary Angie has extensive regulatory advisory experience since 2012, working with various regulatory bodies across Canada, including reviews of rate applications, forensic audits, and regulatory consulting services related to energy and utility matters.

C. CONDUCT OF THE PROCEEDING On October 1, 2024, UI submitted formal notice of its intent to file an application to amend its existing rate schedule. On November 12, 2024, the Company filed the 1 The 9.10% ROE reflects a 47 basis points re...

AI summary The document outlines the procedural steps taken by the Authority in handling UI's application to amend its rate schedules, including hearings, audits, and the submission of motions and briefs. Key events include the filing of the application, revenue audits, public comment hearings, and the issuance of a proposed final decision.

b. English Station The Authority determines that the Company's continuing failure to complete remediation of English Station represents both ongoing non-compliance with a condition of its Authority-approved merger with Iberdrola and defici...

AI summary The Authority criticizes the Company for failing to remediate English Station, leading to non-compliance with merger conditions and poor management. The failure to track labor costs for remediation has led to improper inclusion in base rates. A 10 basis point reduction in allowed ROE is proposed to encourage better management and expedite remediation.

tion site or pay the State of Connecticut the difference.· The court holds that PURA plainly has the statutory authority and regulatory discretion to consider whether compliance with PURA's own orders In the Company's last base distributio...

AI summary The document discusses a regulatory proceeding involving the Public Utilities Regulatory Authority (PURA) and its authority to enforce compliance with its own orders. It references a past decision where a company was found non-compliant with remediation requirements, leading to a reduction in its Return on Equity (ROE).

ii. Current Status of Remediation Efforts There is no dispute that UI has still not completed remediation of English Station. See generally Ex. UI-ERP-1, pp. 19–54. Unlike in its last rate case, however, the Company has provided voluminous...

AI summary UI has not completed remediation of English Station, citing unanticipated conditions and delays due to approvals from DEEP and property owners. Despite extensive filings, progress since the last rate case is unclear, with much of the documentation focusing on prior issues rather than recent advancements.

ration of its terms, the Authority made clear that ratepayers were not to bear any future costs associated with English Station other than those related to an environmental bulkhead repair. Id., p. 5. In the present proceeding, the Company...

AI summary The Authority determined that the Company failed to comply with its direction not to recover future costs related to English Station beyond those for environmental bulkhead repair. The Company stopped tracking internal labor costs related to English Station, leading to these costs being recovered through base distribution rates, violating the Authority's orders.

iii. Conclusion Even in isolation, individual instances of non-compliance with specific Authority orders and direction are concerning. Taken together, though, the above examples paint a broader picture of non-compliance with Authority orde...

AI summary The Authority has imposed an additional five basis point reduction in ROE due to the Company's repeated non-compliance with Authority orders, emphasizing the need for corrective action. This reduction will remain in effect until the next rate case, when compliance will be reassessed.

al system integrator. Interrog. Resp. EOE-095. Because the proposed end-state rates are merely "illustrative," the Authority is unable to rule on their reasonableness. Rates Panel Rebuttal PFT, p. 26. In sum, the record indicates that the...

AI summary The document discusses the Company's inadequate preparation for implementing opt-out Time-of-Use (TOU) rates, noting the lack of a detailed customer education plan, missing consumer protection mechanisms, and no automated process for calculating bill savings. The Company has not updated its billing or metering systems as required by Docket No. 22-08-08.

The majority of the proposed MRCC increase is due to increased expenses when compared to the current MRCC. For example, depreciation and amortization expense (FERC accounts 403, 404, and 407) account for $2.85 of the proposed MRCC compared...

AI summary The proposed increase in the Maximum Residential Customer Charge (MRCC) is primarily due to higher depreciation and amortization expenses, though some expenses like meter costs are lower. The Authority confirms that the MRCC formula aligns with General Statutes and that the methodology is consistent with prior decisions. The company is required to update its residential fixed charge rate in compliance filings.

operations. Hr'g Tr., 474:17–21. Goal owners collect and coordinate information across UI's business functions to assess progress and determine next steps when goals fall off track. Hr'g Tr., 475:2–7. Avangrid's CEO and CFO review these up...

AI summary The document discusses the lack of specific sustainability goals and governance structures at the operating company level for ESG initiatives. While Avangrid has broader ESG objectives, UI does not have defined sustainability goals or mechanisms to ensure consistent implementation or oversight of ESG objectives. The alignment of these goals with Connecticut-specific ESG policies is also unclear.

ating company level—facts that support narrowly tailored reporting requirements. See Interrog. Resp. UPA-15; Interrog. Resp. UPA-26; Interrog. Resp.UPA-40; Interrog. Resp. UPA-41; Hr'g Tr., 475:16–22. Finally, the Company's assertion that...

AI summary The document discusses the need for transparency in ESG contributions by Avangrid, emphasizing that such contributions should be integral to the company's strategy and not contingent on regulatory outcomes. It highlights the importance of consistent local implementation and accountability to communities, with potential future ROE adjustments depending on ESG integration and outcomes.

n the reverse is true, rate cases become shorter. Systematic changes in rate case timing and duration appear to have contributed to the higher rates of return utility companies have managed to secure. This finding raises the question of wh...

AI summary The text discusses how the timing and duration of rate cases influence the rates of return that utility companies secure, suggesting that regulators may allow this due to resource limitations and potential regulatory capture. It also highlights the use of simple rules-of-thumb and rounding in approved rates of return, as well as evidence that more litigated cases lead to lower rates of return.

Selected experience - Served as Consulting Expert on behalf of the Public Utilities Commission of Texas in assessing a proposed acquisition of Texas New Mexico Power by Blackstone, Inc. - Led efforts as Procurement Monitor on behalf of the...

AI summary The text outlines the professional experience of an individual who has worked as a consulting expert and auditor in various regulatory and energy-related proceedings across North America, including assessments of utility acquisitions, procurement monitoring, and market design analysis.

Regulations respecting schedule - 65 (1) A public utility shall submit for the approval of the Board with and as part of any schedule of rates all rules and regulations that in any manner relate to such schedule. - (2) Upon such rules and...

AI summary This regulation requires public utilities to submit rules and regulations related to their rate schedules for Board approval. Once approved, these rules become lawful and must be filed with the Board, remaining in effect until modified by an order from the Board.

- Upgrading aging infrastructure to comply with regulations can be more difficult and costly. Action Implementation Progress Other action areas affected Conduct a strategic review of parking lot maintenance and incorporate best practices f...

AI summary The text discusses the challenges of upgrading aging infrastructure to meet regulatory requirements and mentions efforts to implement eco-friendly parking lot designs based on guidelines from the Conseil régional de l'environnement de Montréal and LEED standards. It also highlights collaboration with external telecommunications partners to improve infrastructure resilience.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ ŝƐƐƵĞƐǁŝůůĞdžŝƐƚǁŚŝĐŚǁŽƵůĚĂĚǀĞƌƐĞůLJĂĨĨĞĐƚĚĞŵŽůŝƚŝŽŶƉůĂŶŶŝŶŐ͘ůůĨŝƐŚĞƌŝĞƐƌĞůĂƚĞĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂƚ ĞĂĐŚƐŝƚĞǁŝůůďĞƌĞŵŽǀĞĚďLJŽƚŚĞƌƐĞdžĐĞƉƚǁŚĞƌĞƐƉĞĐŝ...

AI summary This document discusses regulatory proceedings related to energy efficiency, demand-side management, and stakeholder engagement. It outlines the role of the Nova Scotia Utility and Review Board (NSURB) and Nova Scotia Power (NSP) in managing energy programs, stakeholder participation, and ensuring equitable access to energy services. Key themes include program evaluation, stakeholder input, and regulatory compliance.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ x KƵƚůĞƚ;ƌĂĨƚͲƚƵďĞͿůĂƐƐŝĨŝĐĂƚŝŽŶʹĂƚĞŐŽƌLJ͕ƚŚĞƚĂŝůƌĂĐĞĐŚĂŶŶĞůǁŝůůƌĞƋƵŝƌĞƌĞŵĞĚŝĂƚŝŽŶƚŽƚŚĞŽƌŝŐŝŶĂů ĞĂƌZŝǀĞƌĂůŝŐŶŵĞŶƚ͘ - x ŽŶƐƚƌƵĐƚĂĚĚŝƚŝŽŶĂůŵĂƚĞƌŝ...

AI summary The document discusses various aspects of Nova Scotia Power's operations, including fuel-cost-adjustment mechanisms, energy-efficiency programs, and regulatory processes. It covers topics such as cost-recovery, demand-side-management, and regulatory compliance, with a focus on program evaluations and stakeholder engagement.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ - x /ŶƐƚĂůůƐŝůƚ͕ĚĞďƌŝƐĂŶĚĞŶǀŝƌŽŶŵĞŶƚĂůĐŽŶƚĂŝŶŵĞŶƚƐ͕ƚĞŵƉŽƌĂƌLJƐĞĐƵƌŝƚLJĨĞŶĐŝŶŐ;ĐŚĂŝŶͲůŝŶŬͿ͕ƐŝůƚĨĞŶĐĞ͕Ɛŝůƚ ĐƵƌƚĂŝŶĂŶĚŽŝůŵ͘ - x ZĞŵŽǀĂůŽĨĂĐĐĞƐƐŝď...

AI summary The text discusses various regulatory and operational issues in Nova Scotia's energy sector, including challenges with fuel-cost-adjustment mechanisms, demand-side management, and the integration of renewable energy. It also touches on program evaluations, stakeholder engagement, and the need for policy reforms.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ ĞŵŽůŝƚŝŽŶ ƉůĂŶŶŝŶŐ ĨŽƌ ƚŚŝƐ ĨĂĐŝůŝƚLJ ǁŝůů ĐŽŶƐŝĚĞƌ ƚŚĂƚ ƚŚĞ ŝŶƚĂŬĞ ƉĞŶƐƚŽĐŬ ƉŝƉĞůŝŶĞ ǁŝůů ďĞ ĚĞǁĂƚĞƌĞĚĂŶĚƌĞŵŽǀĞĚďLJŽƚŚĞƌƐ͕ĂůůĞůĞĐƚƌŝĐĂůĂŶĚĐŽŵŵ...

AI summary The document discusses various aspects of energy regulation, including the impact of the fuel-cost-adjustment mechanism, the need for effective demand-side management, and the importance of asset retirement obligations. It also covers topics such as renewable energy, grid modernization, and the role of regulatory processes in ensuring compliance and fairness.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ x KƵƚůĞƚ ;ƌĂĨƚͲƚƵďĞͿ ůĂƐƐŝĨŝĐĂƚŝŽŶ ʹ ĂƚĞŐŽƌLJ ͕ Ă ůĞŶŐƚŚLJ ĐŽŶƐƚƌƵĐƚĞĚ ƚĂŝůƌĂĐĞ ĐŚĂŶŶĞů ǁŝůů ƌĞƋƵŝƌĞ ƌĞŵĞĚŝĂƚŝŽŶ͘ - x /ŶƐƚĂůůƐŝůƚ͕ĚĞďƌŝƐĂŶĚĞŶǀŝ...

AI summary The document discusses various aspects of energy regulation and management, including the implementation of energy efficiency programs, cost recovery mechanisms, and stakeholder engagement. It highlights the importance of ensuring equitable access to energy and the need for effective program evaluation and compliance with regulatory standards.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ x KƵƚůĞƚ;ƌĂĨƚͲƚƵďĞͿůĂƐƐŝĨŝĐĂƚŝŽŶʹĂƚĞŐŽƌLJ͕ƚŚĞĚƌĂĨƚƚƵďĞĚŝƐĐŚĂƌŐĞƐŝŶƚŽĂůĞŶŐƚŚLJƚĂŝůƌĂĐĞĐŚĂŶŶĞů ƚŚĂƚǁŝůůƌĞƋƵŝƌĞƐŝŐŶŝĨŝĐĂŶƚƌĞŵĞĚŝĂƚŝŽŶ͘ - x /ŶƐƚĂůů...

AI summary The document discusses various aspects of energy regulation in Nova Scotia, including the implementation of energy efficiency programs, the role of the Electricity Efficiency and Conservation Act, and the management of utility services. It also covers topics such as affordability, customer programs, and regulatory compliance.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ ǁŝůů ďĞ ƌĞŵŽǀĞĚ ďLJ ŽƚŚĞƌƐ͘ /ƚ ŝƐ ĂůƐŽ ĂƐƐƵŵĞĚ ƚŚĂƚ ƚŚĞƌĞ ǁŝůů ďĞ ŶŽ ŽƵƚƐƚĂŶĚŝŶŐ ĂƐďĞƐƚŽƐ ĂďĂƚĞŵĞŶƚŽƌŽƚŚĞƌŚĂnjĂƌĚŽƵƐŵĂƚĞƌŝĂůƐŽƌĞŶǀŝƌŽŶŵĞŶƚĂůŝƐƐ...

AI summary The text discusses the regulatory process and challenges in Nova Scotia's electricity sector, focusing on the implementation of energy efficiency and conservation measures, as well as the role of various stakeholders in ensuring compliance and effective policy execution. It highlights the need for stakeholder engagement, compliance, and oversight in managing energy resources and programs.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ ƉŽǁĞƌŚŽƵƐĞ ŚĂƐ ďĞĞŶ ĐŽŶƐƚƌƵĐƚĞĚ ŝƚ ǁŝůů ďĞ ŝŵƉƌĂĐƚŝĐĂů ƚŽ ĂƚƚĞŵƉƚ ƚŽ ĚĞŵŽůŝƐŚ ĂŶĚ ƌĞŵŽǀĞ ŝŶƚĞƌŝŽƌƐƚƌƵĐƚƵƌĂůĐŽŵƉŽŶĞŶƚƐĂŶĚŝŶĨŝůůƚŚĞ ĨĂĐŝůŝƚLJǁŝƚŚ...

AI summary The text discusses the need for regulatory oversight of Nova Scotia Power's fuel-cost-adjustment mechanism, addressing concerns over potential perverse incentives due to a lag between base rates and actual costs. It also highlights the importance of ensuring fair and equitable energy programs, stakeholder engagement, and compliance with regulatory standards and legislation.

s͘ WKtZ,Kh^DK>/d/KE^^hDDZzEKE>h^/KE^ ĞĐŽŵŵŝƐƐŝŽŶŝŶŐŽĨE^W/,LJĚƌŽWƌŽĚƵĐƚŝŽŶƉŽǁĞƌŚŽƵƐĞƐǁŝůůďĞĂŶĞŶĚĞĂǀŽƌǁŚŝĐŚǁŝůůĚĞƉĞŶĚŚĞĂǀŝůLJ ŽŶ ĞĨĨŝĐŝĞŶƚ ĐŽŽƌĚŝŶĂƚŝŽŶ ŽĨ ǀĂƌŝŽƵƐ ƚƌĂĚĞƐ ŝŶĐůƵĚŝŶŐ ďƵƚ ŶŽƚ ůŝŵŝƚĞĚ ƚŽ ŚĞĂǀLJͲůŝĨƚ ĐŽŶƚƌĂĐƚŽƌƐ͕ ,s ƐƉĞĐŝĂůŝƐƚƐ͕ŵĞ...

AI summary The text discusses regulatory proceedings involving energy management, focusing on mechanisms like fuel-cost-adjustment and the impact of base rates on incentives. It references proceedings and mentions the need for stakeholder engagement and compliance with regulations.

each fiscal period of the person and without notice or demand therefor, file with the Minister an information return for the period in prescribed form and containing prescribed information, including (a) a description of the person’s activ...

AI summary The text outlines regulatory requirements for filing information returns with the Minister, including details on activities, financial data, and director information. It also discusses amendments to the Scientific Research and Experimental Development Tax Incentive Program, focusing on capital expenditures and government assistance.

ing after subsection (4): 15 2026-2027 GRA U-17 Attachment 1 Page 16 of 53 Exception — Part XXI (5) Despite subparagraph (1)(f)(ii), and unless the reporting financial institution elects otherwise with respect to any clearly identified gro...

AI summary The text outlines amendments to financial reporting requirements, including exceptions for reporting gross proceeds from asset sales and transitional rules for reporting periods before 2028. It also updates AML/KYC procedures for determining controlling persons of account holders, aligning with the 2012 FATF recommendations.

90 days after the request was made and the TIN is provided to the reporting crypto-asset service provider that requested it within 15 days after the person to whom the TIN relates received it; or (b) the reportable person or the crypto-ass...

AI summary The text discusses regulations related to the provision and assessment of Taxpayer Identification Numbers (TINs) for crypto-asset service providers, as well as amendments to the Regulations regarding non-registered accounts in prescribed labour-sponsored venture capital corporations. It also outlines the repeal and amendment of specific paragraphs in the Regulations and references the application of these changes to the 2026 and subsequent calendar years.

unless the person is unable to do so, do everything that the person is required to do by or under sections 231.1 to 231.6. 4 (1) Subsections 231.6(1) and (2) of the Act are replaced by the following: Definition of foreign-based information...

AI summary The text outlines amendments to the Act regarding the requirement to provide foreign-based information or documents, including definitions, time periods for compliance, and judicial review of such requirements.

a question, the information, document or answer is not protected from disclosure by solicitor-client privilege. (2) Section 231.7 of the Act is amended by adding the following after subsection (5): Penalties (6) If an order under subsectio...

AI summary This section amends the Act by introducing a penalty of up to 10% of the aggregate tax payable for each taxation year in which a taxpayer fails to comply with specific requirements. The penalty does not apply if the taxpayer reasonably believed information was protected by solicitor-client privilege or if the tax payable is less than $50,000. The Minister may apply for a compliance order at any time and assess penalties under this section.

by registered or certified mail; or (c) sent electronically to a bank or credit union that has provided written consent to receive notices of non-compli- ance under subsection (1) electronically. Request for review (4) A person who is sent...

AI summary This section outlines procedures for handling notices of non-compliance, including the right to request a review by the Minister, the timeframes for such reviews, and the conditions under which a notice may be vacated. It also allows for judicial review of the Minister’s decision.

néfices of two or more countries to produce “deduction/non-inclu- de l’Organisation de coopération et de développement éco- sion mismatches”; nomiques et du Groupe des Vingt concernant les stratégies d’évitement fiscal transfrontalières qu...

AI summary The text outlines several tax-related measures, including adjustments to Canadian exploration and development expenses, modifications to the anti-surplus stripping rule, and changes to the rural supplement for Climate Action Incentive payments (CAIP). These changes aim to address tax avoidance strategies and improve fiscal fairness.

address a refusal to supply a means of diagnosis or repair arrangements antérieurs, en veillant à ce que l’ordonnance and ensuring that representations of a product’s benefits for rendue en cas de refus de vendre puisse permettre de remé-...

AI summary The text discusses measures to ensure accurate product claims related to environmental benefits and the enforcement of regulations to address non-compliance, including the creation of new remedial orders and administrative penalties for harmful collaborations.

of penalties 89 Paiement des pénalités 90 Waiving or cancelling penalties 90 Renonciation ou annulation DIVISION M SECTION M Offences and Punishment Infractions et peines 91 Failure to file or comply 91 Omission de rendre compte 92 Offence...

AI summary This section outlines various offences and penalties related to compliance, including failure to file or comply, false statements, tax non-payment, and handling of confidential information. It also includes provisions for due diligence, compliance orders, and the power to decrease punishments.

)(t) of the Act is replaced by (3) L’alinéa 12(1)t) de la même loi est remplacé the following: par ce qui suit :

AI summary This text contains a legal provision where a section of an act is being replaced by a new provision. The original text is in English, and the replacement text is in French.

cours de laquelle une somme relative au paiement, en profits of the entity. l’absence de toute règle étrangère de restriction des dépenses, serait, ou dont on pourrait raisonnablement s’attendre à ce qu’elle soit, déductible dans le calcul...

AI summary This text refers to a legal provision related to the Income Tax Act and other legislation, focusing on amendments made in 2023. It discusses the application of subsections in relation to payments made on or after July 1, 2022, with exceptions for payments after June 30, 2022.

cas, est produit dès que les circonstances le permettent, (ii) selon le ministre, les circonstances sont telles qu’il serait juste et équitable de per- mettre que le choix soit fait ou modifié. 8 (1) The Act is amended by adding the follow...

AI summary The text discusses amendments to a legislative act, specifically adding definitions related to hybrid mismatch arrangements. The amendments are introduced after section 18.3 and apply to certain sections and paragraphs.

where b) comme étant édictée ou mise en vigueur par le pays A is an amount (referred to in this definition as the dans le but de mettre en œuvre, en tout ou en partie, “relevant amount”) that is included in respect of the payment in comput...

AI summary The text defines terms related to tax regulations, specifically addressing the inclusion of amounts in computing foreign income or profits. It refers to international tax guidelines aimed at limiting base erosion and addressing fiscal challenges posed by economic digitization.

and (e), subsection 111(3) and 111(1)a), a.1), c), d) et e), du paragraphe 111(3) et de la Part IV, partie IV : (5) Subsection 88(1.1) of the Act is amended by (5) Le paragraphe 88(1.1) de la même loi est modi- striking out “and” at the en...

AI summary This text outlines amendments to subsection 88(1.1) of the Act, specifically modifying paragraph (d) by removing 'and' at the end and adding a new paragraph (d.1). The changes are part of Part IV of the legislation.

ty Restriction des déductions (3) For the purposes of subsection (1), (3) Pour l’application du paragraphe (1) :

AI summary The text provides a bilingual heading related to the restriction of deductions under a tax regulation, likely referring to the Income Tax Act or a similar legislation.

b) l’article 127.44 et la partie XII.7; propre) c) l’article 127.45. (clean economy provision) 39 (1) Subsection 128(2) of the Act is amended by 39 (1) Le paragraphe 128(2) de la même loi est adding the following after paragraph (d.2): mod...

AI summary The text discusses amendments to subsection 128(2) of an Act, specifically adding content after paragraph (d.2), with references to articles 127.44, 127.45, and part XII.7. It also mentions a clean economy provision.

partie par la société pour l’année si ce paragraphe paragraph 152(4)(a), or s’appliquait compte non tenu de son alinéa a), (ii) under subsection 152(4.31) to assess tax payable (ii) aux termes du paragraphe 152(4.31), une cotisa- under Par...

AI summary This text discusses the application of paragraph 152(4)(a) and subsection 152(4.31) of a legislative act, relating to the assessment of taxes payable by a corporation under Part IV. It also refers to the replacement of the definition of 'eligible portion' in subsection 129(4) of the Act.

ay be, that is extended at that time to the control- représentait un avantage qui : ling individual of the registered plan trust, and (i) d’une part, est relatif au CELI ou au CELIAPP, selon le cas, accordé à ce moment au particulier contr...

AI summary The text discusses legal amendments to the definition of a credit union, specifically replacing the existing definition with a new one that includes federal credit unions and cooperative financial service providers established under provincial legislation.

modifié par adjonction, après l’alinéa d), de ce adding “and” at the end of paragraph (d) and by qui suit : adding the following after paragraph (d): (e) the definitions eligible group entity, excluded e) les définitions de entité admissib...

AI summary The text modifies a legal provision by adding a new paragraph (e) to subsection 18.2(1) and section 18.21, which excludes certain definitions from applying to the calculation of non-resident person's income. The amendment applies to taxation years beginning on or after October 1, 2023.

n (1), is replaced by the following: par le paragraphe (1), est remplacé par ce qui suit : Exception Exception (2.2) Subsection (2.1) does not apply in respect of a pre- (2.2) Le paragraphe (2.1) ne s’applique pas au formulaire scribed for...

AI summary This text outlines amendments to a legal provision, specifying the effective dates of changes to subsections (1) and (2) of a regulation, and modifying subsection 225.1(1.1) of an Act by removing a word and adding new content after a specific paragraph.

axpay- accumulé, tiré de biens d’une société étrangère er, and affiliée d’un contribuable, (C) would not be deemed under subsection (C) ne serait pas réputée en vertu du paragraphe 113(5) of the Act not to be a dividend received by 113(5)...

AI summary The text discusses a provision related to the treatment of accumulated amounts derived from foreign affiliated companies and the definition of hybrid surplus in regulations, focusing on the application of subsection 113(5) of the Act and its implications for Canadian resident corporations.

ésente une somme relative à un inter- year determined by the formula valle pertinent du contribuable donné au cours de l’année civile déterminée par la formule suivante : 2021-2022-2023-2024 269 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA...

AI summary The text includes a formula for determining a sum related to a taxable interval for the years 2021-2024 and references the Chapter 15: Fall Economic Statement Implementation Act, 2023, specifically Part 2, the Digital Services Tax Act, and Section 96.

présente loi. Le commissaire peut exercer les pouvoirs et form the duties of the Minister under this Act. les fonctions conférés au ministre par la présente loi. Staff Personnel 38 (1) The persons that are necessary to administer and 38 (1...

AI summary The text outlines the powers and responsibilities of the Commissioner under the Act, including the authority to appoint, employ, or engage personnel to administer and enforce the Act. It also allows the Minister to delegate powers to Agency staff or individuals in positions of responsibility.

le jour du paiement plied to a liability of, the person. ou de l’imputation. DIVISION H SECTION H Records and Information Registres et renseignements Keeping records Obligation de tenir des registres 65 (1) A person must keep all records t...

AI summary This section outlines the obligation for individuals and entities to maintain records necessary for compliance with the Act, including those related to consolidated groups. It also allows the Minister to specify the form and content of these records.

(4) Sous réserve de paragraphe (5), la personne obligée quired to keep records must retain them for a period of de tenir des registres doit les conserver pendant une 2021-2022-2023-2024 297 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17...

AI summary The text outlines a legal requirement for record retention, specifying that records must be kept for eight years after the end of the relevant calendar year or any other period prescribed by regulation.

nt. puté avoir reçu la demande à la date de l’avis de cotisa- tion. Irregularities Irrégularités (5) No assessment is to be vacated or varied on an appeal (5) Une cotisation ne peut être annulée ni modifiée lors by reason only of an irregu...

AI summary The text outlines regulations regarding the assessment process, including the handling of irregularities, the requirement to send a notice of assessment, and the payment of any unpaid amounts to the Receiver General for Canada.

paragraphe (1) pour l’établissement de la nouvelle cotisa- tion, s’il n’était pas tenu compte du paragraphe (5). Filing waiver Présentation de la renonciation (8) A person may, within the period otherwise limited by (8) Toute personne peut...

AI summary This section outlines the process for waiving and revoking the application of a subsection related to assessments. A person may file a waiver with the Minister, specifying the period and matter of the waiver. The waiver remains in effect for 180 days after the revocation notice is filed.

services numériques Enactment of Act Édiction de la loi Section 96 Article 96 Assessment deemed valid and binding Présomption de validité de la cotisation 71 An assessment is, subject to being varied or vacated 71 Sous réserve des modifica...

AI summary This section of the legislation outlines that an assessment is considered valid and binding, even if there are irregularities or errors, unless it is modified or annulled through an objection or appeal under the Act.

oss neg- de l’article 52, est passible d’une pénalité correspondant à ligence, is liable to a penalty that is the lesser of la moins élevée des sommes suivantes : (a) 50% of the amount payable under this Act (deter- a) 50 % du montant exig...

AI summary The text outlines penalty provisions under a regulatory Act, specifying that non-compliance can result in a penalty of up to 50% of the amount payable or $100,000, whichever is lower. A general penalty of $2,500 is also imposed for non-compliance with unspecified provisions. The text also mentions the obligation to pay penalties.

Édiction de la loi Section 96 Article 96 DIVISION N SECTION N Inspections Inspection Authorized person Inspection 101 (1) A person authorized by the Minister (in this sec- 101 (1) Quiconque est autorisé par le ministre (appelée tion referr...

AI summary Section 96 of the Act grants authorized persons the right to inspect, audit, or examine records, processes, property, or premises of individuals or entities to ensure compliance with the Act. Inspections may occur at any reasonable time and for any purpose related to the administration or enforcement of the law.

permission de l’occupant, à moins d’y être autorisée par cept under the authority of a warrant issued under sub- un mandat décerné en vertu du paragraphe (4). section (4). Warrant to enter dwelling-house Mandat (4) A judge may on ex parte...

AI summary The text discusses the legal authority to issue warrants for entering a dwelling-house under specific conditions, as outlined in a legislative provision. It references the Fall Economic Statement Implementation Act, 2023, and the Digital Services Tax Act.

pris un prétendu paiement fait au moyen d’un titre né- gociable qui fait l’objet d’un refus de paiement. Agent or mandatary or legal representative Mandataire ou représentant légal (8) For the purposes of this section, an acknowledge- (8)...

AI summary This text discusses legal provisions related to acknowledgment made by an agent or legal representative, and the extension of limitation periods when the Minister postpones tax collection actions.

Proof of electronic delivery Preuve de livraison par voie électronique (3) If, under this Act, provision is made for sending a no- (3) Si la présente loi prévoit l’envoi par voie électronique tice to a person electronically, then an affida...

AI summary The text outlines the requirements for electronic delivery of notices under the Act, including the need for an affidavit from an Agency official confirming electronic delivery and the specific details that must be included in the affidavit.

Act is replaced sible, au paragraphe 156(1) de la même loi, est by the following: remplacé par ce qui suit : (b) a group of specified partnerships, or of specified b) groupe de sociétés de personnes déterminées, ou partnerships and corpora...

AI summary This text outlines a legal amendment replacing a portion of a statute, specifically modifying the definition of a 'qualifying member' within a 'qualifying group' under section 156(1) of the Act. The new definition includes corporations resident in Canada and specified partnerships with members residing in Canada that meet certain conditions.

(2) Le paragraphe (1) entre en vigueur ou est ré- to have come into force on January 1, 2024. puté être entré en vigueur le 1er janvier 2024. (3) For greater certainty, a vaping product li- (3) Il est entendu qu’une licence de produits de...

AI summary This text outlines regulatory amendments related to vaping product licenses, specifying that licenses issued before January 1, 2024, also authorize the holder under new subsections of the Act. It also updates section 158.46 of the Act, adding requirements for packaging vaping products.

roupe fi- l’acquisition ou la détention d’un intérêt de groupe fi- nancier dans une telle entité. nancier dans une telle entité. 176 (1) Subsection 324(1) of the Act is amended 176 (1) Le paragraphe 324(1) de la même loi est by replacing t...

AI summary This text amends subsection 324(1) of the Act by modifying the portion of the subparagraph 539(1)(b.2)(ii) that it enacts before clause (A) to include activities related to information technology and financial services provided by foreign banks or their group entities.

omes into force. en vigueur de ce paragraphe 201(1) ou après cette date. Coordinating Amendments Dispositions de coordination 2021, c. 27 2021, ch. 27 207 (1) In this section, other Act means An Act to 207 (1) Au présent article, autre loi...

AI summary This text outlines coordinating amendments between the Criminal Code and the Canada Labour Code, specifically addressing the effective dates of sections 6.1 and 204. It specifies that if section 6.1 of the other Act comes into force before section 204 of this Act, certain sections are deemed never to have come into force and are repealed.

the 5 L’Agence est placée sous l’autorité du ministre; il en management and direction of it. assure la direction et la gestion. Delegation to Agency Délégation d’attributions à l’Agence 6 (1) The Minister may, subject to any terms and cond...

AI summary The document outlines the management structure of an agency, including the delegation of authority by the Minister, restrictions on delegating regulatory powers, and the appointment of the Agency's President by the Governor in Council for a renewable term of up to five years.

ing the following 218 La même loi est modifiée par adjonction, after section 46: après l’article 46, de ce qui suit : Offences related to fees and charges Infractions — frais et redevances 46.1 Every manufacturer who contravenes subsection...

AI summary The text amends legislation related to offences involving fees and charges, imposing fines for manufacturers who violate specific provisions. It also references amendments to the Canadian Payments Act, specifically modifying the definition of a central co-operative credit society and central.

transmis par le demandeur à toutes les personnes qui ont qualité pour présenter une telle demande. 232 Section 45.1 of the Act is replaced by the fol- 232 L’article 45.1 de la même loi est remplacé par lowing: ce qui suit : Application mad...

AI summary This text outlines amendments to sections 45.1 and 52(7) of a legislative act, replacing existing provisions with new ones related to proceedings and orders under specific sections of the law.

Act are 241 (1) Les paragraphes 74.111(1) à (6) de la replaced by the following: même loi sont remplacés par ce qui suit :

AI summary The text indicates that certain paragraphs of a law are being replaced by new provisions, though the specific content of the replacement is not detailed in the provided excerpt.

Failure to comply with consent agreement Omission de se conformer au consentement 74.121 (1) If, on application by the Commissioner, the 74.121 (1) S’il conclut, à la suite d’une demande du court determines that a person, without good and...

AI summary The text outlines the legal consequences for failing to comply with a registered consent agreement, including prohibitions, corrective actions, and administrative monetary penalties of up to $10,000 per day.

Failure to comply with consent agreement Omission de se conformer au consentement 74.132 (1) If, on application by the Commissioner, the 74.132 (1) S’il conclut, à la suite d’une demande du Tribunal determines that a person, without good a...

AI summary The Tribunal may impose penalties or require corrective actions if a person fails to comply with a registered consent agreement, as determined by the Commissioner. Non-compliance can lead to prohibitions, corrective measures, or administrative monetary penalties.

Failure to serve Omission de signifier un accord 74.134 (1) If, on application by the Commissioner, the 74.134 (1) S’il conclut, à la suite d’une demande du Tribunal determines that a person, without good and suf- commissaire, qu’une perso...

AI summary This section outlines the Tribunal's authority to take action if a person fails to serve a copy of an agreement on the Commissioner. It includes ordering the person to serve the agreement, issuing an interim order to prevent implementation of the agreement, and imposing administrative monetary penalties.

une sanction administrative pécu- Tribunal specifies, an administrative monetary penal- niaire maximale de 10 000 $ pour chacun des jours au ty in an amount not exceeding $10,000 for each day on cours desquels elle a omis de signifier une...

AI summary The text outlines a maximum administrative monetary penalty of $10,000 per day for failing to serve a copy of an agreement to the Commissioner, with the amount determined by the Tribunal considering the person’s financial position and history of compliance with the Act.

d) accorder toute autre réparation qu’il considère jus- (d) grant any other relief that the Tribunal considers tifiée. appropriate. Purpose of order But de l’ordonnance (2) The terms of an order under paragraph (1)(c) are to (2) Les condit...

AI summary The text outlines provisions related to granting relief, the purpose of orders, and the handling of unpaid monetary penalties. It also references a legal amendment to subsection 75(1) of the Act.

of the person against whom d) la situation financière de la personne visée par l’or- the order is made; donnance; (e) the history of compliance with this Act by the per- e) le comportement antérieur de la personne visée par son against who...

AI summary The text outlines the factors considered when making an order against a person under the Act, including their financial situation, compliance history, and other relevant factors. It also clarifies that the purpose of such an order is to encourage compliance with the Act, not to punish the individual.

lowing 258 La même loi est modifiée par adjonction, after section 106.1: après l’article 106.1, de ce qui suit : Failure to comply with consent agreement Omission de se conformer au consentement 106.2 (1) If, on application by the Commissi...

AI summary This text discusses the legal consequences of failing to comply with a consent agreement under the relevant law. It outlines that the Tribunal may take action if a person fails to comply with such an agreement, as determined by the Commissioner.

pour la première ordonnance et de 15 000 000 $ pour toute ordonnance subséquente. Purpose of order But de l’ordonnance 107.4 The terms of an order made against a person un- 107.4 Les conditions de l’ordonnance rendue en vertu der section 1...

AI summary This text outlines the purpose of an order made under section 107.3, which aims to encourage compliance with the Act rather than punishment. It also references sections of the Competition Act related to measures affecting competition.

(f) the Competition Bureau, if the officer also has rea- f) au Bureau de la concurrence, si en outre il a des sonable grounds to suspect that the information would motifs raisonnables de soupçonner que les renseigne- be relevant to investi...

AI summary The text outlines conditions under which information may be disclosed to specific agencies, including the Competition Bureau and provincial securities legislation administrators, if there is a reasonable suspicion that the information is relevant to investigating or prosecuting certain offences under various acts.

da lié à l’importation ou à l’exportation side and outside Canada relating to the importation de marchandises, and exportation of goods, and (v) de la nature et de la portée du contournement (vi) measures that have been or might be taken t...

AI summary The text outlines the scope of information related to importation and exportation of goods, as well as measures to detect and prevent money laundering and terrorist financing. It also includes limitations on the disclosure of certain information by the Canada Border Services Agency.

Destruction of certain information Destruction de certains renseignements (2) The Centre shall destroy any information contained (2) Le Centre détruit dans un délai raisonnable les ren- in a document, whether in written form or in any othe...

AI summary The Centre is required to destroy certain information received in documents that purports to be reports under specific sections of the Act, if it determines that the information relates to financial transactions or circumstances not required to be reported under the Act, or if the information voluntarily provided by the public is not related to money laundering or terrorist financing.

l’importation ou à l’exportation, ou de toute personne ou entité agissant pour leur compte; (5) Paragraph 56.1(5)(n) of the Act is replaced by (5) L’alinéa 56.1(5)n) de la même loi est remplacé the following: par ce qui suit : (n) indicato...

AI summary This text outlines amendments to a legal act, specifically replacing paragraph 56.1(5)(n) and amending subsection 56.1(5) to include additional indicators related to money laundering, terrorism financing, and sanctions evasion, as well as adding new information from reports under section 7.1.

(3) L’alinéa 60(8)a) de la même loi est remplacé the following: par ce qui suit : (a) the Director is prohibited from disclosing the in- a) soit qu’un accord bilatéral ou international en ma- formation or document by any bilateral or inter...

AI summary This text amends a section of a law regarding the disclosure of information by the Director, prohibiting the sharing of information related to money laundering, terrorist financing, and sanctions evasion under bilateral or international agreements to which the Government of Canada is a signatory.

epartment of Hous- Logement, de l’Infrastructure et des Collectivi- ing, Infrastructure and Communities. tés. References Mentions 326 On the day on which this section comes into 326 Sauf indication contraire du contexte, à la force, every...

AI summary This text discusses the transition of the Office of Infrastructure of Canada to the Department of Housing, Infrastructure and Communities, with references to the Access to Information Act and consequential amendments to the legislation.

ments Modifications corrélatives Sections 329-335 Articles 329-335 Department of Housing, Infrastructure and Communi- Ministère du Logement, de l’Infrastructure et des Col- ties lectivités Ministère du Logement, de l’Infrastructure et des...

AI summary This text outlines amendments to Schedule I.1 of the Act, specifically removing references to the Office of Infrastructure of Canada and the corresponding title in column II. The changes are part of a broader legislative update involving the Department of Housing, Infrastructure and Communities.

replaced by the (2) Le paragraphe 69(2) de la même loi est rem- following: placé par ce qui suit :

AI summary The text provides a partial legal amendment, replacing a paragraph of a law with new wording. It references legal statutes and legislative changes.

pect to an inter- adaptations nécessaires, à l’interruption visée au ruption under subsection (2). paragraphe (2). Words and expressions Terminologie (4) Words and expressions used in this section (4) Les termes employés au présent article...

AI summary The text contains legal provisions related to the coming into force of a division, defined by an order of the Governor in Council. It includes terminology definitions and publication information from the House of Commons.

This document describes the plan for administering Nova Scotia Power Inc.'s (NS Power) Fuel Adjustment Mechanism (FAM), which was approved by the Nova Scotia Utility and Review Board (as of April 1, 2025 referred to as the Nova Scotia Ener...

AI summary This document outlines the administration plan for NS Power's Fuel Adjustment Mechanism (FAM), approved by the Nova Scotia Energy Board. The FAM allows for the recovery of fuel and purchased power costs, with the Base Cost of Fuel being reset periodically through General Rate Applications or Board orders. Stakeholders can challenge the methodology and forecasts, and the Board will audit the FAM accounts. Adjustments are calculated based on the difference between actual and base fuel costs.

7 P-9 (34) DISTRIBUTION - Line Transformers 27,737 18,961 1,052 5,464 336 611 682 293 0 80 258 P-9 (35) DISTRIBUTION -Services 0 0 0 0 0 0 0 0 0 0 0 P-9 (36) DISTRIBUTION -Meters 0 0 0 0 0 0 0 0 0 0 0 P-9 (37) DISTRIBUTION PLANT - Streetli...

AI summary The text presents a table with various distribution-related line items and their associated costs, including line transformers, meters, and streetlight distribution plant, with some entries redacted and labeled as confidential. The table includes figures across multiple years and categories, such as 2026-2027 GRA Compliance Filing.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2026-2027 GRA Compliance Filing - SR-01 Attachment 2 Page 96 of 100 NOVA SCOTIA POWER INC. DETAILED LISTING OF C.O.S.S. INPUT INFORMATION FOR THE YEAR ENDING DECEMBER 31, 2026 (IN THOUSA...

AI summary This document is a redacted compliance filing by Nova Scotia Power Inc. for the year ending December 31, 2026, specifically Attachment 2, Page 96 of 100, which contains a detailed listing of C.O.S.S. input information.

REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2026-2027 GRA Compliance Filing - SR-01 Attachment 2 Page 98 of 100 NOVA SCOTIA POWER INC. DETAILED LISTING OF C.O.S.S. INPUT INFORMATION FOR THE YEAR ENDING DECEMBER 31, 2026 (IN THOUSA...

AI summary The document presents a detailed listing of C.O.S.S. input information for Nova Scotia Power Inc. for the year ending December 31, 2026, focusing on allocation factor information, specifically the calendar month of system peak.

0 (52) DEF. CHG. - Financing 0 0 0 -0 0 0 0 0 0 (53) DEF. CHG. - Tax 0 0 0 -0 0 0 0 0 0 (54) DEF. CHG. - Pension 0 0 0 0 0 0 0 0 0 (55) DEF. CHG. - Other 0 0 0 -0 0 0 0 0 0 (56) DEF. CHG. - ARO Trans. -0 0 0 0 -0 0 -0 -0 0 (57) SUB-TOTAL 0...

AI summary The text presents a table with various financial and tax-related line items, including financing, tax, pension, and other adjustments, all showing zero values. It also references a redacted compliance filing related to the Grid Reliability and Availability (GRA) for the period 2026-2027.

0 0 0 0 0 0 0 P-8A (51) DEF. CHG. - Tax 0 0 0 0 0 0 0 0 0 0 0 P-8A (52) DEF. CHG. - Pension 0 0 0 0 0 0 0 0 0 0 0 O-2A (53) DEF. CHG. - Other 0 0 0 0 0 0 0 0 0 0 0 P-8A (54) DEF. CHG. - ARO Trans. -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 D-3B (55)...

AI summary The text presents a table with various line items related to 'DEF. CHG.' (Deficit Charge) and 'Transmission - HV' with all values set to zero, followed by a redacted page from a 2026-2027 GRA Compliance Filing, indicating confidential information has been removed.

SS) 88,265 37,238 51,027 - (37) (38) TOTAL GENERATION $1,306,658 $426,162.61 $880,495 - REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2026-2027 GRA Compliance Filing - SR-01 Attachment 3 Page 33 of 102

AI summary The text includes a redacted section of a compliance filing related to GRA (Grid Reliability and Availability) for the period 2026-2027. It contains financial data and is part of a regulatory proceeding document.

61 $880,495 - REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2026-2027 GRA Compliance Filing - SR-01 Attachment 3 Page 33 of 102

AI summary The document contains a redacted section of a compliance filing related to the 2026-2027 GRA (Grid Reliability and Availability) filing, specifically Attachment 3, Page 33 of 102. The content has been redacted due to confidentiality.

100.00% 69.41% 3.81% 19.00% 1.17% 2.17% 2.19% 1.01% 0.00% 0.28% 0.97% P-16 (41) TOT.RATE BASE-DMD. (DIST.) Streetlight $36,113 $0 $0 $0 $0 $0 $0 $0 $0 $0 $36,113 (42) % RESPONSIBILITY 100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%...

AI summary The text presents a table with percentages and dollar amounts related to rate base responsibilities for distribution and generation, including streetlight and energy-related costs. It includes a reference to a redacted compliance filing under the Greenhouse Gas Reduction Act (GRA) for the period 2026-2027.

$23 0.1% ( 6) MEDIUM INDUSTRIAL 16,627 36,614 8.83 281 $53,522 $56,045 104.71 $53,561 ($38) -0.1% ( 7) LARGE INDUSTRIAL 12,448 59,485 8.56 657 $72,591 $76,012 104.71 $72,851 ($260) -0.4% ( 8) PHP 11,925 25,785 NA 69 $37,780 $39,560 104.71...

AI summary The text presents a detailed financial breakdown of various sectors, including medium and large industrial, PHP, municipal, and unmetered, with percentages and monetary figures. It includes subtotals, direct expenses, return on direct expenses, and total figures, indicating a compliance filing related to the Greenhouse Gas Reduction Act (GRA) for the period 2026-2027.

Interpretation and Definitions Page 6 of 6 "Unmetered" "unmetered" means a supply of electricity for which no metering device is employed to record either the power or energy supplied. "Wholesale "Wholesale Customer" has the same meaning a...

AI summary This section defines key terms related to electricity supply, including 'unmetered' and 'Wholesale Customer,' with the latter referencing the Electricity Act, S.N.S. 2004, c. 25.

NOVA SCOTIA ENERGY BOARD

AI summary The Nova Scotia Energy Board is involved in a regulatory proceeding, though specific details, arguments, or cited matters are not provided in the text.

IN THE MATTER OF THE PUBLIC UTILITIES ACT -and - IN THE MATTER OF A GENERAL RATE APPLICATION by NOVA SCOTIA POWER INCORPORATED for approval of certain revisions to its Rates, Charges and Regulations BEFORE: Stephen T. McGrath, K.C., Chair...

AI summary Nova Scotia Power Incorporated seeks approval for rate revisions under the Public Utilities Act. The proceeding is before a panel chaired by Stephen T. McGrath, K.C., with Roland A. Deveau, K.C., and Steven M. Murphy as members. The application involves proposed changes to rates, charges, and regulations.

HEARING ORDER NS Power applied to the Nova Scotia Energy Board on September 18, 2025, for approval of certain revisions to its Rates, Charges and Regulations.

AI summary NS Power submitted an application to the Nova Scotia Energy Board on September 18, 2025, seeking approval for revisions to its Rates, Charges and Regulations. The proceeding involves regulatory review of proposed changes to utility pricing structures and operational policies.

The Board orders that: - 1. The public hearing for this matter will start on Wednesday, January 7, 2026, at 9:00 am, at the Offices of the Board, Summit Place, 3rd Floor, 1601 Lower Water Street, Halifax, Nova Scotia, and continue until Fr...

AI summary The Board has ordered a public hearing starting January 7, 2026, in Halifax, with specific dates and procedures outlined, including a timeline for filings, interventions, and the application of the Board's Regulatory Rules.

AMENDED HEARING ORDER NS Power applied to the Nova Scotia Energy Board on September 18, 2025, for approval of certain revisions to its Rates, Charges and Regulations.

AI summary NS Power applied to the Nova Scotia Energy Board on September 18, 2025, seeking approval for revisions to its Rates, Charges, and Regulations. The application pertains to amendments in the regulatory framework governing the organization's service provisions and financial structures.

the smoothed amounts over the two years. - 3. Non-substantive amendments that are administrative in nature to the FAM Plan of Administration and the Hedging Plan of the Fuel Manual. Document: 325174

AI summary NS Power is proposing non-substantive administrative amendments to the FAM Plan of Administration and the Hedging Plan within the Fuel Manual. The text references smoothed fuel cost amounts over a two-year period as part of the regulatory proceeding.

SWEB DEVELOPMENT Mason Baker BOARD COUNSEL: William L. Mahody, K.C. HEARING DATE(S): January 7-13, 2026 FINAL SUBMISSIONS: February 6, 2026 DECISION DATE: March 25, 2026 DECISION: The application is approved as amended by the Board. The re...

AI summary The Board approved the application as amended, with revised rates confirmed via compliance filing. Hearings occurred January 7-13, 2026, with final submissions due February 6, 2026, and a decision issued March 25, 2026.

wer proposed. As a result, the value of the coal plant assets on which NS Power was able to earn a return was higher than it otherwise would have been if higher depreciation expenses had been applied. [10] However, as canvassed in this dec...

AI summary The text discusses the impact of depreciation methods on coal plant asset valuations and rate base calculations for NS Power. It argues that prior settlement agreements mitigated rate impacts by avoiding accelerated depreciation on retiring coal assets. The rate base value aligns with regulatory practices and the Public Utilities Act, ensuring fair returns for investors to maintain investment and avoid financial risks like poor credit ratings. Morrison Park reiterates concerns about low returns discouraging investment.

2.0 BOARD'S AUTHORITY UNDER THE PUBLIC UTILITIES ACT [25] The Board is an administrative body, established under the Energy and Regulatory Boards Act , SNS 2024, c 2, Schedule A. It must follow legislative requirements and administrative l...

AI summary The Nova Scotia Utility and Review Board (NSUARB) derives its authority from the Public Utilities Act (PUA) and the Energy and Regulatory Boards Act. Its powers are statutory, not inherent, and must align with legislative intent. Judicial review by the Nova Scotia Court of Appeal and Supreme Court of Nova Scotia is possible. The NSUARB's jurisdiction is limited to express statutory grants or necessary implication, as outlined in Re Nova Scotia Power Incorporated and ATCO Gas & Pipelines Ltd. v. Alberta (Energy & Utilities Board) .

Powers and duties - 5 (1) The Energy Board has those functions, powers and duties that are conferred or imposed upon it - (a) by this Act; - (b) by the More Access to Energy Act ; - (c) respecting the production, transmission, delivery or...

AI summary The Energy Board's powers and duties are defined by multiple acts, including the More Access to Energy Act and Public Utilities Act, and may be expanded by the Governor in Council through regulations. The Governor in Council can also assign powers to the Energy Board, discontinuing existing boards during the assignment period.

Amount utility entitled to earn annually - 45 (1) Every public utility shall be entitled to earn annually such return as the Board deems just and reasonable on the rate base as fixed and determined by the Board for each type or kind of ser...

AI summary The Nova Scotia Utility and Review Board (NSUARB) determines annual returns for utilities, deducting required amortization reserves. The Public Utilities Act (PUA) mandates 'just and reasonable' returns, with the Board's discretion tempered by statutory purposes. Legal precedents, including the 2019 NSCA 66 case, emphasize the Board's public interest obligations and statutory limits.

CRITERIA OF A SOUND RATE STRUCTURE - 1. The related, "practical" attributes of simplicity, understandability, public acceptability, and feasibility of application. - 2. Freedom from controversies as to proper interpretation. - 3. Effective...

AI summary The document outlines eight criteria for a sound rate structure, emphasizing simplicity, revenue stability, fairness, and efficiency. It references James Bonbright's principles and legal precedents, including the Public Utilities Act and statutory interpretation requirements. The criteria are used to assess current applications under Nova Scotia regulatory frameworks.

3.1 Should the Settlement Agreement be Approved? [36] On September 2, 2025, NS Power wrote to the Board to advise that it would be filing a general rate application for the 2026 and 2027 test years. It stated that it had reached a consensu...

AI summary NS Power advised the Board on September 2, 2025, of its intent to file a general rate application for 2026 and 2027, supported by customer representatives. However, the application was not filed until September 18, 2025, and the settlement agreement was only submitted on November 5, 2025, following information requests from Board staff.

[38] Previous decisions by the NSUARB set out the principles it applied in its consideration of settlement agreements. Those principles are still relevant and bear repeating. In its decision dated November 5, 2008, about a prior NS Power g...

AI summary The NSUARB emphasizes its commitment to ensuring that settlement agreements are just, reasonable, and in the public interest. It highlights the importance of settlement agreements in regulatory proceedings, noting their role in promoting collaboration and reducing controversy in rate applications. The Board also outlines its principles for evaluating such agreements, including the need to ensure that costs are prudently incurred and that all intervenor concerns are adequately addressed.

competition in two ways. It sets an unrealist benchmark of posted retail rates for comparison purposes, and it creates an ongoing fuel liability for customers looking to leave NSPI bundled service. … REI respectfully requests that the Boar...

AI summary REI argues that NSPI's fuel cost forecasts are inaccurate and requests adherence to the FAM POA for annual recovery of overages. NS Power counters that its methods are audited by Bates White and compliant with the POA, thus no directive is needed.

3.2.2.3 Findings [67] NS Power is directed to make the change to s. 3.2.8 of the FAM POA discussed in NSEB IR-33. The Board approves NS Power's other proposed amendments to the FAM POA and to the FAM Tariff. [68] As noted above, the Board...

AI summary NS Power must amend section 3.2.8 of the FAM POA as per NSEB IR-33, with other amendments approved. The Board declines to approve the Fuel Manual and Hedging Plan, reiterating NS Power's duty to manage fuel prudently.

es an objective measure of success on that initiative. Like many are forced to do in their daily lives, members of the public want NS Power to do everything possible to keep costs down where possible. [101] The Board also finds that NS Pow...

AI summary The Board denied NS Power's request for increased OM&G costs, citing higher-than-industry OM&G costs per FTE and insufficient justification for additional staffing, particularly for DEI programs. The ScottMadden study showed NS Power's OM&G costs were 21% above the industry median. The Board also noted NS Power did not evaluate internal vs. third-party service models for DEI functions.

3.3.2 Executive Compensation [108] The Public Utilities Act prohibits NS Power from recovering bonuses and incentives paid to an executive employee. Other remuneration may only be recovered as prescribed by regulation: - 64B (8) Nova Scoti...

AI summary The Public Utilities Act prohibits NS Power from recovering executive bonuses and incentives, allowing only other remuneration as per regulations. The 2012 Nova Scotia Power Incorporated Regulations permit recovery of certain executive remuneration, though specifics are not detailed here.

Salary and compensation recoverable from rates, charges or fees 3 For the purpose of subsection 64B(8) of the Act, Nova Scotia Power Incorporated may recover the following remuneration from its rates, charges or fees approved by the Board:...

AI summary Nova Scotia Power Inc. (NSP) may recover executive compensation from rates, limited by compa-ratios under the Public Utilities Act. The new Senior Officials Pay Plan (2023-138) replaced the old plan (2007-85), altering pay scales and affecting recoverable compensation. NSP calculates CEO remuneration as 10% above the new plan's maximum, while other executives are capped at 100% compa-ratio plus 13% benefits.

3.3.2.1 Findings [115] Although the Nova Scotia Power Incorporated Regulations have not been amended and continue to refer to a repealed Order in Council, the Interpretation Act says the regulations continue to apply with reference to the...

AI summary The Nova Scotia Power Incorporated Regulations remain applicable despite referencing a repealed Order in Council, as per the Interpretation Act , which allows regulations to apply through replacement provisions.

Repeal and substitution by amendment or revision - 24 (1) Where an enactment is repealed and other provisions are substituted by way of amendment, revision or consolidation, - (b) a reference, in an unrepealed enactment to the repealed ena...

AI summary The text discusses the repeal of an old pay plan for Nova Scotia Power (NSP) and substitution with a new one, creating a conflict with maximum Deputy Minister pay limits. The Board allows recovery of 100% of the SO5 scale for the CEO but 90% for other executives, maintaining a 10% differential pending regulatory amendments. Compliance filings are required.

the assets. Net salvage recovers the expected future costs to salvage and remove those assets, including any salvage proceeds, such recovery also occurring over the expected useful life of the assets. [124] In its 2023-2024 general rate ap...

AI summary NS Power did not update depreciation rates since 2011 due to uncertainty around coal plant retirements. The Board directed a depreciation study for the 2023-2024 GRA, which NS Power completed using ELG, straight-line, and remaining life methods. The study was conducted by Gannett Fleming.

3.4.1.1.1 Production Plant [142] As it relates to its generation assets, NS Power's depreciation study requires it to estimate the future cost of decommissioning its generation sites, as depreciation rates are generally set to recover the...

AI summary NS Power's depreciation study for generation assets includes decommissioning cost estimates, with separate studies for hydro and non-hydro plants. The GRA settlement agreement removed inflation and contingency costs, lowering proposed depreciation rates. Partial decommissioning costs (excluding dams and archaeological expenses) are included, while full decommissioning and archaeological costs are excluded to balance rate pressure and cost recovery.

3.4.1.1.2 Transmission, Distribution and General Plant [148] Gannett Fleming's net salvage estimates for transmission, distribution and general Plant accounts were based in part on historical data compiled for the years 1993 through 2023....

AI summary Gannett Fleming's net salvage estimates for NS Power's transmission and distribution assets relied on historical data and expert judgment. The GRA settlement agreement reduced recommended salvage rates for specific accounts (354.00, 355.00, 365.00), lowering NS Power's proposed depreciation rates. Historical data from 1976-1992 provided limited probative value due to aggregated reporting.

hose Plant accounts to be acceptable. However, for the reasons that follow, the Board has some concerns about the settlement agreement net salvage rate adjustments for Power Production Plant accounts. [170] The settlement agreement removes...

AI summary The Board has concerns about the settlement agreement's net salvage rate adjustments for Power Production Plant accounts, particularly the removal of archaeological reconnaissance costs from decommissioning estimates. This led to significant reductions in costs for Mersey, Tusket, and Wreck Cove hydro systems compared to Gannett Fleming's study. The Boreas archaeology report outlines the assumed archaeological reconnaissance for all systems.

3.4.2.1 Findings [202] John Wiedmayer, of Gannett Fleming, and Mr. Madsen agree that ELG and ALG are both acceptable and appropriate procedures to determine depreciation expense. They also agree that both procedures require the use of sign...

AI summary John Wiedmayer and Mr. Madsen agree that ELG and ALG are both valid depreciation methods with equivalent total recovery over an asset's life. They note ALG's prevalence in the U.S. and ELG's growing use in Canada, citing denied conversion requests in Manitoba, Ontario, and other jurisdictions. ALG's simplicity and ELG's computational ease are highlighted as factors influencing adoption.

count 367 Underground Conductors and Devices: In its next depreciation study, NS Power should explain the proposed life and why that life is appropriate considering NS Power's facts and circumstances. • Account 390.10 – Structures and Impr...

AI summary The Board directs NS Power to provide detailed asset life data, management notes, IRP documents, and peer analysis in its next depreciation study. Recommendations include disclosing asset retirement dates, reconciling depreciation lives with IRP proposals, and including detailed studies. NS Power agrees to these requirements.

3.4.4 Amortization Accounting for General Plant Assets [256] NS Power has proposed the use of amortization accounting for certain General Plant accounts that represent numerous units of property, but a very small portion of depreciable ele...

AI summary NS Power proposes amortization accounting for specific General Plant accounts with small depreciable values, using periods like 5-20 years. This method aligns with practices of other utilities and FERC guidelines. Amortization would retire vintaged assets, offset by reserve imbalance charges amortized over 5 years. Regulatory approval is sought, citing precedents from Newfoundland Power, BC Hydro, and FERC Accounting Release 15.

directs NS Power to file an updated depreciation study with its next general rate application. The Board expects that this depreciation study will address, but not be limited to, the following issues: - Depreciation expense and rate base i...

AI summary The Board directs NS Power to submit an updated depreciation study with its next general rate application, addressing issues like depreciation-rate base interaction, asset service lives, peer comparisons, and ALG/ELG analysis. The Board approves current asset service lives but requires addressing Mr. Madsen's recommendations and providing detailed documentation. Amortization accounting is approved for specific General Plant accounts.

3.5 Regulatory Deferrals

AI summary The section '3.5 Regulatory Deferrals' outlines a regulatory proceeding involving Nova Scotia utility and energy entities. Key acronyms and organizations are listed, including Nova Scotia Power Inc. (NSP), the Nova Scotia Utility and Review Board (NSUARB), and the Nova Scotia Energy Board (NSEB), indicating involvement in energy regulation and cost recovery mechanisms.

o longer earn a return on the assets. Further, since the debt associated with the assets has been removed from the balance sheet, the securitization results in improved credit metrics for the utility. [283] There are a few steps to impleme...

AI summary The text outlines the securitization process for utility assets, emphasizing its benefits in improving credit metrics by removing debt from the balance sheet. Key steps include legislative authorization, regulatory financing orders, and creating a charge for bondholders. NS Power's case involves complex corporate structures and regulatory approvals, referencing prior matters like 2024 NSUARB 67.

s related to these assets are already embedded in existing rates. [327] The Board accepts PHP's description of the problem and why it must deny NS Power's request to retroactively apply the deferral: Effectively, NS Power is asking to reco...

AI summary The Board denies NS Power's request to retroactively apply a deferral for securitized assets, arguing it would allow premature cost recovery before new rate approvals. PHP contends this would increase customer costs and undermine rate structure fairness. NS Power claims existing rates are insufficient due to caps, but the Board emphasizes NS Power's responsibility to file timely GRAs.

3.5.1.3.1 Findings [334] Based on the evidence of NS Power and Doane Grant Thornton, the Board finds it appropriate to approve the EIFEL deferral.

AI summary The Board approves the EIFEL deferral based on evidence from NS Power and Doane Grant Thornton. Key entities involved include NS Power, Doane Grant Thornton, and the Nova Scotia Utility and Review Board, with the primary focus on managing excessive interest and financing expenses.

3.6.2.1 Findings [374] The Board notes that Undertaking U-64 in the 2023-2024 GRA referred to the forecast NSP Maritime Link Incorporated surplus energy purchases. While not specifically defined, the Board agrees that, in the context of th...

AI summary The Board approves the inclusion of NS Power's Maritime Link transmission projects in the rate base, defining 'surplus energy' to include both EAA and bilateral market energy. Inclusion is effective only going forward, with no recovery of prior depreciation. The Board notes customer benefits from Newfoundland and Labrador Hydro's surplus energy but cautions that EAA compliance may require focusing solely on EAA-transacted energy.

he Department submits that, at least as early as 2016, NS Power knew that its coal assets must be retired by 2030 but did not take this into consideration when valuing its assets. The Department said: In the 2022 GRA, the Department submit...

AI summary The Department of Energy argues that NS Power failed to account for mandatory coal plant retirements by 2030 in asset valuations, leading to improper ratepayer cost allocation. Regulatory standards require impairment write-downs for probable early retirements, which NS Power allegedly ignored despite clear federal and provincial policies. The 2020 Integrated Resource Plan's 2040 phase-out target is also criticized as inconsistent with 2016 federal legislation.

uation, every public utility shall report correctly to the Board changes in its property and file with the Board copies of all contracts for changes and improvements at the time the same are executed. [385] In its reply submissions, NS Pow...

AI summary NS Power argues for a 'fair return' based on the regulatory compact, citing historical and recent legal precedents. It proposed accelerated depreciation for generation units due to environmental regulations but faced opposition over retirement dates. A settlement agreement resolved disputes, lowering rates in the next general rate application.

Cost Allocation Concept This concept recognizes the original cost of the asset as a prepaid expense. As such, it must be allocated to specific accounting periods and realized on income statements during the time the asset is providing serv...

AI summary The cost allocation concept treats asset costs as prepaid expenses, allocated over their useful life via depreciation. Depreciation records asset usage but doesn't guarantee investment recovery, which depends on revenue adequacy. The principle ensures matching expenses with revenues, with net book value reflecting asset value less depreciation.

Property, Plant and Equipment Property, plant and equipment ("PP&E") are recorded at original cost, including allowance for funds used during construction ("AFUDC") or capitalized interest, net of contributions received in aid of construct...

AI summary The document outlines the accounting treatment for Property, Plant and Equipment (PP&E), including capitalization of costs, depreciation methods, and regulatory approvals for service lives. Intangible assets are amortized using straight-line methods with regulatory approval. Depreciation studies are approved by the Nova Scotia Utility and Review Board (UARB).

Summary and Conclusion - [60] To summarize, the issue is where the losses resulting from forces of nature should fall: on the utility's consumers or on the utility's shareholders: - (a) In legal terms the issue is where a just and reasonab...

AI summary The issue centers on allocating losses from natural forces between consumers and shareholders. The Commission has discretion under the Electric Utilities Act , not determined by prior cases. Utilities ceased buying insurance, implying consumer self-insurance. The answer hinges on the Commission's interpretation of the Act, not on property law or anticipated losses.

3.6.3.1.3 The Requirement for Prudence [429] Prudence is, of course, always a consideration. The language used in s. 30(2) of the Public Utilities Act is not simply "original cost" but "prudent original cost". A utility is entitled to the...

AI summary The regulatory proceeding discusses the legal requirement for prudence in utility cost recovery under the Public Utilities Act. The Board emphasizes that costs must be 'prudent original cost,' with a presumption of prudence for Nova Scotia Power Inc. (NSPI) that can be rebutted using hindsight. Disagreements arise over applying these principles in Fuel Adjustment Mechanism (FAM) audits, particularly regarding thresholds for rebutting prudence and whether human error constitutes imprudence.

the coal generation assets but recommended that NS Power be allowed to recover the unamortized balances of the coal assets only where the Board has determined those costs have been prudently incurred:

AI summary The Board recommended that NS Power can recover unamortized coal asset balances only if the costs were prudently incurred, emphasizing prudent cost determination for recovery.

- [445] This test was more recently accepted by the Supreme Court of Canada in Ontario (Energy Board) v Ontario Power Generation Inc. , 2015 SCC 44: - 15 This Court has had the occasion to consider the meaning of similar statutory language...

AI summary The text discusses the legal principle of 'fair return' for utilities, emphasizing that regulated utilities must recover operating and capital costs to maintain operations and attract investment. It cites Supreme Court of Canada and Federal Court of Appeal rulings affirming this requirement, noting that failure to recover costs harms both shareholders and customers.

3.7.5 Findings [511] It bears repeating that for at least a century, the Supreme Court of Canada has recognized that investors in regulated utilities are entitled to a fair return that is comparable to the return they would see from other...

AI summary The Supreme Court of Canada has long upheld that regulated utility investors deserve a fair return comparable to similar investments. Factors like comparable returns and financial integrity are key in setting allowed returns, while affordability and reliability are addressed through other regulatory tools. The NSUARB's 2005 decision on NS Power's rate request followed a major winter storm, highlighting regulatory considerations during crises.

y Canadian CFOs, as mentioned earlier. Thus, the BYPRP approach accounts for interactions between company debt costs and equity markets, and as such it is intuitively sound. [Exhibit N-32, pp. 74-75] [516] Dr. Cleary gives equal weighting...

AI summary The analysis discusses Dr. Cleary's use of three equally weighted approaches to estimate allowed Canadian equity returns. Concentric emphasizes that no single model can precisely determine ROE, advocating for multiple methodologies and informed judgment. Other Canadian regulators (BCUC, OEB, AUC) also endorse using multiple approaches for determining fair ROE.

Q. Considering the consensus agreement in this GRA, what do you recommend regarding the Company's COSS methods? A. While I do not support several of the Company's COSS methodologies, particularly the use of the minimum system method for cl...

AI summary The respondent acknowledges a settlement agreement in the GRA but opposes certain COSS methods, advocating for their revision in future proceedings. Renewall Energy Inc. raised concerns about inconsistencies between NS Power's COSS methodologies and OATT charges.

rs in subsequent proceedings. I would expect that we do get some value out of what we just went through, but certainly the Minimum System is one that was identified as being for further consideration. - Q. Okay. And so back to Ms. Palmer's...

AI summary The text discusses a debate over whether additional cost-of-service methods should be included in the 2026 filing under the Settlement Agreement. Nova Scotia Power (NSP) disagrees with including them in the 2026 filing but supports future consideration in full studies. Port Hawkesbury Paper (PHP) endorses NSP's position, emphasizing the need for regulatory certainty.

7th percentile usage of Reactive Power from generation. [658] The 2023-2024 GRA (M10431) Board Order included the following directives regarding the OATT and capacity-based ancillary services (CBAS): - To explore options with Northern Powe...

AI summary The 2023-2024 GRA (M10431) Board Order directed NS Power to address OATT and CBAS issues, including interruptible load treatment, -16 MW requirements, Wreck Cove reserve calculations, and CT unit exclusion. NS Power responded by incorporating changes based on its review. Ancillary Services are critical for transmission reliability, with OATT requiring NS Power to ensure availability to all customers.

3.10.2.1 Findings [680] The Board has several concerns with NS Power's request to implement AMI opt-out fees at this time. Based on the responses provided during the hearing, it appears that meter reader costs associated with opt-out meter...

AI summary The Board rejects NS Power's request to implement AMI opt-out fees due to insufficient cost delineation, questionable assumptions in cost projections, and reluctance to consider self-reporting alternatives. Concerns include inadequate justification for projected cost increases and failure to explore technological solutions for verifying customer readings.

3.10.3 Revised Fees and Regulations [685] In its application, NS Power proposed revisions to its Schedule of Charges, such as for connection, reconnection, returned cheques, installation of recording equipment, contribution for three-phase...

AI summary NS Power proposed revisions to its Schedule of Charges, including connection, reconnection, and pole attachment fees, among others. The Board approved these revisions, contingent on prior findings regarding the AMI opt-out fee.

oposed framework will allocate 100% of the DSM costs to classes in accordance with DSM program spending. This is intended to align with feedback and the recent COSS. In Matter M12521, NS Power stated: NS Power is proposing to amend the all...

AI summary NS Power proposes amending the DSM Rider to allocate 100% of DSM costs to rate classes based on program spending, removing the 25% system benefit allocation. This aligns with stakeholder feedback, the recent COSS, and aims to simplify cost-of-service treatment while aligning with other jurisdictions, as detailed in the Elenchus Report.

4.2.1 Findings [701] As noted above, the 2026 and 2027 values for the SCRR rider are zero. The proposed amendments are expected to correct the unbalanced asymmetrical nature of the current version of the rider. The amendments should also m...

AI summary The Board approves proposed amendments to the SCRR rider for 2026-2027, aiming to correct its unbalanced asymmetrical nature and reduce administrative burden by eliminating small refund applications. The pilot program is endorsed to streamline processes and improve efficiency.

ocesses. But appreciate the point again that there's much more data that's associated with this and how those are assigned to our specific asset classes. [Transcript, January 12, 2026, pp. 1030-1031] [705] Hydro-Québec's Climate Change Ada...

AI summary The document compares Hydro-Québec's Climate Change Adaptation Plan (2022-2024) with NS Power's approach. Hydro-Québec's plan includes two phases: risk identification and action areas with adaptation measures. NS Power acknowledges a comparable first phase but claims its plan lacks the second phase's detailed information, asserting that such data resides in its climate adaptation management system and database.

4.3.1 Findings [707] The fact that NS Power compiles and analyzes climate data and uses this information in its asset management systems is positive. However, NS Power's Climate Change Adaptation Plan is more of a process than a plan per s...

AI summary The Board finds NS Power's Climate Change Adaptation Plan insufficient as it lacks transparency, stakeholder consultation, and detailed climate impact analysis. They direct a revision by October 1, 2026, incorporating elements like climate impact descriptions and adaptation measures.

is forecast to provide in the test period. It recommended that the proposed large increase in sustaining capital costs for Lingan 2 "be supplemented with additional narrative support" by the company. [715] In response to questions from Boa...

AI summary NS Power seeks to refurbish Lingan Unit 2 due to safety concerns, requesting additional narrative support for increased sustaining capital costs. The company cites NERC and NPCC requirements for system capacity and customer load service. Refurbishment delays risk consequential damages, and capital costs are not automatically approved with the GRA.

4.4.1 Findings [720] NS Power's firm capacity requirements in advance of 2030 continue to be the subject of review in several matters considered by the Board, including the Evergreen IRP Action Plan and Roadmap Update, the 10-Year System O...

AI summary The Board approves OM&G costs for Lingan 2 and Trenton 5 to ensure reliable service and NERC/NPCC compliance. NS Power's capacity requirements are under review in multiple proceedings, excluding Lingan 2's sustaining capital costs, which will be addressed in another matter (M12619). Key documents include the Evergreen IRP Action Plan and 10-Year System Outlook Report.

5.0 SUMMARY OF MAJOR FINDINGS AND DIRECTIVES [733] The Board approves most components of the settlement agreement, subject to its findings below that amend the application. The following are approved:

AI summary The Board approves most components of the settlement agreement but requires amendments based on its findings. Key focus is on approving the agreement while modifying the application to align with regulatory requirements.

[741] An Order will issue following the compliance filing. DATED at Halifax, Nova Scotia, this 25th day of March 2026. Stephen T. McGrath ______________________________ ______________________________ ______________________________ Roland A...

AI summary An order will be issued following a compliance filing, dated March 25, 2026, in Halifax, Nova Scotia. The document includes signatures from Stephen T. McGrath, Roland A. Deveau, and Steven M. Murphy, indicating their involvement in the regulatory proceeding.

, could alleviate that concern. - [683] NS Power appears reluctant to consider providing opt-out customers with options such as self-reporting which could facilitate maintaining bi-monthly readings, or perhaps might require only a single m...

AI summary NS Power's proposal to implement opt-out fees and change meter reading regulations was denied by the Board. NS Power was directed to remove related definitions and proposed changes to regulations and to file updated regulations reflecting the Board's decision. The new rates and regulations will take effect on May 1, 2026.

study to the lives proposed in the IRP; and - The peer analysis relied upon by the company in an Excel file (para. [255]); - f) To address the additional cost-of-service concerns raised by Synapse in its application to the Board later in 2...

AI summary The Board orders various actions, including addressing cost-of-service concerns, reviewing distribution system cost allocation methods, filing a revised Climate Change Adaptation Plan by October 1, 2026, and revising regulations as directed. These actions are part of ongoing regulatory proceedings related to NS Power.

The Board orders that: - 1. NS Power's proposed changes to Regulation 1.1 do not conform to the Board's March 25, 2026, Decision or its April 30, 2026, Order and are not approved. - 2. Regulations 1.1 and 5.1, attached as Schedule A, are a...

AI summary The Board has rejected NS Power's proposed changes to Regulation 1.1, citing non-compliance with previous decisions and orders. However, Regulations 1.1, 5.1, and 7.2 are approved effective May 1, 2026.

7.2.1 (b) Annual Permits and Inspections An annual maintenance permit shall be issued for an establishment to cover all minor repairs as required under sections 4(a) (B), (2) and (3) of the regulations made by the Fire Marshal pursuant to...

AI summary An annual maintenance permit is required for establishments to perform minor repairs as outlined in the Electrical Installation and Inspection Act, regulated by the Fire Marshal.

- 1. NS Power will provide Designated Confidential Information, as defined herein, to the Designated Recipient as defined in the undertaking to which this schedule is attached. - 2. Designated Confidential Information shall consist of mate...

AI summary The document outlines the conditions under which NS Power will provide Designated Confidential Information to a Designated Recipient, including restrictions on access and the requirement for the recipient to sign an undertaking. The information includes confidential materials filed with the Nova Scotia Energy Board and other sensitive data.

NOVA SCOTIA INDEPENDENT ENERGY SYSTEM OPERATOR ("IESO Nova Scotia") TAKE NOTICE that IESO Nova Scotia requests to intervene in the above-noted matter. Pursuant to the More Access to Energy Act, SNS 2024, c. 2, Sch. B, IESO NS is statutoril...

AI summary IESO Nova Scotia seeks to intervene in a regulatory proceeding, citing its statutory mandate under the More Access to Energy Act to administer Nova Scotia's bulk power system and wholesale markets. It requests all notices and information be directed to its counsel, Jason T. Cooke, K.C. and Danielle J. Keating of Burchell Wickwire Bryson LLP.

NOVA SCOTIA ENERGY BOARD IN THE MATTER OF: The Public Utilities Act – and – IN THE MATTER OF: An Application by Nova Scotia Power Incorporated for approval of certain revisions to its Rates, Charges and Regulations

AI summary The Nova Scotia Energy Board is considering an application by Nova Scotia Power Incorporated under the Public Utilities Act to revise its rates, charges, and regulations. The proceeding involves regulatory approval for proposed changes to the utility's pricing structure.

Comment These factors are set out in the Energy and Regulatory Boards Act (ERBA) at s. 6(2), where it states that the Board is to "give appropriate consideration" of them when approving rates, tolls, charges, tariffs, capital applications,...

AI summary The comment references the Energy and Regulatory Boards Act (ERBA) and the More Access to Energy Act , stating that the Board must consider certain factors when approving rates and other matters. It argues that the enumeration of these factors does not change the Board's mandate and should not be included in the Final Issues List.

[2008 NSUARB 140] - [58] The GRA Settlement Agreement in this proceeding was reached by the parties after the hearing was finished. This matter had a full evidentiary record containing over 30,000 pages of information and spreadsheets, inc...

AI summary The GRA Settlement Agreement was reached after a hearing with extensive evidence, including 30,000 pages of documents, expert reports, and public comments. The NSUARB emphasizes its duty to ensure the agreement's terms are just, reasonable, and in the public interest, aligning with prior decisions and ongoing proceedings.

oard further notes that in the decision relating to NS Power's last annual storm restoration cost report, it noted that the GRA was the appropriate venue to consider any amendments to the storm rider.

AI summary The NSUARB noted in a prior decision that the GRA is the appropriate venue for considering amendments to the storm rider, referencing NS Power's last annual storm restoration cost report.

AMENDED HEARING ORDER NS Power applied to the Nova Scotia Energy Board on September 18, 2025, for approval of certain revisions to its Rates, Charges and Regulations.

AI summary NS Power applied to the Nova Scotia Energy Board on September 18, 2025, seeking approval for revisions to its Rates, Charges, and Regulations. The application pertains to amendments in utility pricing structures and regulatory frameworks, aiming to align with current operational and financial parameters.

The Board orders that: - 1. The public hearing for this matter will start on Wednesday, January 7, 2026, at 9:00 am , at the Offices of the Board, Summit Place, 3rd Floor, 1601 Lower Water Street, Halifax, Nova Scotia , and continue until...

AI summary The Board sets a public hearing for a regulatory proceeding from January 7–16, 2026, in Halifax, Nova Scotia, with an evening session contingent on speaker registrations by November 27, 2026. Key deadlines include filing notices of intervention, information requests to NS Power, and submitting evidence. The hearing notice will be published in specified newspapers and online, with the Board's Regulatory Rules governing the process.

the smoothed amounts over the two years. - 3. Non-substantive amendments that are administrative in nature to the FAM Plan of Administration and the Hedging Plan of the Fuel Manual. Document: 325174

AI summary NS Power is proposing non-substantive administrative amendments to the Fuel Manual's FAM Plan of Administration and Hedging Plan, focusing on smoothed amounts over two years.

Request IR-15: - Please provide a reconciliation and detailed explanation of any differences between the expected - useful lives set out in the most recent integrated resource plan (or equivalent analysis), the most - recently filed integr...

AI summary Request IR-15 seeks a reconciliation and detailed explanation of discrepancies between expected useful lives in the integrated resource plan and the depreciation lives applied for, on an account-by-account basis.

Question: - (a) Please confirm that the Risk Premium approach discussed on pages 52-56 of Appendix 10A is the same model that Mr. Coyne labelled as his Bond Yield Plus Risk Premium Model "BYPRPM" during the 2018 Alberta GCOC proceedings. I...

AI summary The document questions whether the Risk Premium approach in Appendix 10A matches Mr. Coyne's model from Alberta GCOC proceedings, criticizes its reliance on government bond yields over market data, and challenges the use of non-market-based allowed ROEs from U.S. and Canadian regulators, which ignore jurisdiction-specific factors and NSPML risks.

Question: - (a) Please provide the sources relied on to estimate short-term credit costs in 2026 and 2027. - (b) Please provide analysis to substantiate the claim that revolving line of credit rates would be more than 100 basis points more...

AI summary The document requests sources for estimating short-term credit costs in 2026-2027 and analysis on revolving credit vs. commercial paper costs. It references NS Power's 2023 exemptive relief approval to resume its commercial paper program and notes a shift in long-term to short-term debt ratios from 2024-2025 to 2026-2027.

Request IR-6: References: Direct Evidence p. 68: "However, this forecast assumes approval of the rates requested in this Application and a successful securitization of the net book value of the thermal assets. Absent an increase in general...

AI summary NS Power forecasts that failure to secure rate increases and securitize thermal assets may cause its credit ratings to deteriorate below the 10% cash flow to debt threshold by 2027, impacting access to capital and increasing borrowing costs. The request asks for specific financial statement line items affected by credit rating deterioration and commentary linking past threshold breaches (2022-2023) to current credit ratings.

Request IR-13: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 9-10 of 58 - Per N-6, (Appendix 7C), page 9-10 of 58, we understand that "advertising" is lower in 2024 - actuals and 2024 compliance restated due to lower spen...

AI summary Request IR-13 seeks clarification on reduced advertising spending in 2024, noting restated actuals and compliance due to lower spending. The request asks for specific reasons behind the spending reduction.

Request IR-18: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 13-14 of 58 - Per N-6, (Appendix 7C), page 13-14 of 58, we understand that 2026 forecast is lower than 2024 - compliance restated and 2024 actuals for "faciliti...

AI summary The document references a 2026 forecast lower than 2024 due to changes in allocating carrying costs on materials inventory to the procurement cost center. Questions are raised about the rationale for this allocation change and whether NSPI received approval for it.

Request IR-22: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 19-20 of 58 - Per N-6, (Appendix 7C), page 19-20 of 58, we understand that no expenses were included in - "ECEI" in 2024 compliance restated. What is the reason...

AI summary The text inquires why no expenses were included in the 2024 compliance restated under ECEI, referencing N-6 and Appendix 7C. It questions the rationale for excluding expenses in the compliance restated.

Request IR-32: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 33-34 of 58 - Per N-6, (Appendix 7C), page 33-34 of 58, we understand that contracts expense has increased - from 2024 compliance restated to 2026 forecast for...

AI summary The document references N-6 2026-2027 GRA Direct Evidence Appendix 7C, pages 33-34, noting an increase in contracts expense for 'Enterprise asset management & project implementation' from 2024 to 2026 due to operational changes and inflation. It requests detailed cost information on these changes.

Request IR-36: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 39-40 of 58 - Per N-6, (Appendix 7C), page 39-40 of 58, we understand that labour expense has increased - from 2024 compliance restated to 2026 forecast for "co...

AI summary The text requests detailed information about increased labor expenses in the control center, attributed to additional employees for operational needs, referencing N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 39-40 of 58. It seeks clarification on the required employees and associated costs.

Request IR-39: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 41-42 of 58 - Per N-6, (Appendix 7C), page 41-42 of 58, we understand that travel expense has increased - from 2024 compliance restated to 2026 forecast for "en...

AI summary The document requests an explanation for increased travel expenses under energy delivery services from 2024 to 2026, attributing the change to operational requirements. It references N-6 Appendix 7C pages 41-42.

Request IR-47: - Reference: N-6 2026-2027 GRA Direct Evidence Appendix 7C Page 49-50 of 58 - Per N-6, (Appendix 7C), page 49-50 of 58, we understand that other goods and services expense - has decreased from 2024 actual, 2025 budget, 2026...

AI summary Request IR-47 seeks evidence supporting a $5 million reduction in administration expenses attributed to the GRA settlement agreement, referencing Appendix 7C, pages 49-50 of N-6.

Request IR-65: - Reference: OE-10-11 - Per OE-10-11, please explain the proposed 2026 and 2027 adjustments for 'Deferred income - taxes on loss carryforward', 'Reclassification of CIT to/from DIT (with regulatory offset)', and - 'Current i...

AI summary Request IR-65 seeks clarification on proposed 2026 and 2027 adjustments for 'Deferred income taxes on loss carryforward,' 'Reclassification of CIT to/from DIT (with regulatory offset),' and 'Current income tax recovery Investment tax credits.' It requests calculation details, sources, reasons, and regulatory offsets.

Request IR-85: - Reference: RB-02-16- Attachment 1 - Please provide explanation for the increase in materials and supplies allowance from 2024 - Compliance Rates to 2026 Proposed Rates.

AI summary Request IR-85 seeks an explanation for the proposed increase in materials and supplies allowance from 2024 to 2026 under Compliance Rates. The request is tied to regulatory proceedings involving rate adjustments and compliance frameworks.

Request IR-89: - Reference: RB-02-16- Attachment 1 - Please provide an explanation for the increase in Cash Working Capital ("CWC") 2024 - Compliance Rates to 2026 Proposed Rates. Specifically, please provide details on the categories - dr...

AI summary Request IR-89 seeks an explanation for the increase in Cash Working Capital (CWC) for 2024 and details on compliance rates tied to proposed 2026 rates, specifically requesting categories driving the CWC increase.

Request IR-27: - Reference: Exhibit N-3 GRA Direct Evidence, Section 5 Fuel and Purchased Power - On page 29 of the application, NS Power states: NS Power's currently approved version of the Confidential Fuel Manual, which sets out the req...

AI summary NS Power references an 'approved' version of its Fuel Manual in its application, but the Nova Scotia Utility and Review Board has not formally approved it. The document requests confirmation that Revision #14 (dated October 17, 2024) was filed in Matter M11947 for informational purposes and that the Board emphasized NS Power's responsibility to manage fuel portfolios prudently. The Board's October 31, 2024 letter in M11947 explicitly states no approval was granted.

References: - 1. On pages 21 and 98 of the application, NS Power seeks Board approval of "administrative" changes to the introduction to Appendix Q (the Hedging Plan) of the Fuel Manual. - 2. On page 35 of Appendix 5A, NS Power notes there...

AI summary NS Power seeks Board approval for changes to its Hedging Plan in the Fuel Manual. The document questions legislative requirements for Board approval of hedging strategies, references a 2016 Board decision (2016 NSUARB 129) on the Fuel Stability Plan, and asks whether NS Power's proposed changes are for information or formal approval. It highlights statutory obligations under the EPIA and the role of the Fuel Adjustment Mechanism (FAM).

Request IR-53: - Reference: Exhibit N-6, Appendix 7A - Please explain the reason for the increased regulatory requirements for fuel system equipment - inspections at Tufts Cove, noted on page 8 in Appendix 7A.

AI summary The document requests an explanation for increased regulatory requirements for fuel system equipment inspections at Tufts Cove, referenced in Exhibit N-6, Appendix 7A, page 8.

Request IR-57: Reference: Exhibit N-6, Appendix 7E, Executive Compensation Report - a) Please confirm, or explain otherwise, that the "pay plan" referenced in the Nova Scotia Power Incorporated Regulations is defined as "the Senior Officia...

AI summary Request IR-57 seeks clarification on Nova Scotia Power's (NSP) pay plan regulations, including its definition, revocation by Order in Council 2023-138, impact on rate calculations, differences between old and new pay plans, and communications between NSP and government officials regarding the revocation.

Request IR-66: - Reference: Exhibit N-6(ii), Control Center - There is a 42% forecasted increase in labour expense for 2026 over 2024 actuals in this category - (as well as a significant projected increase over 2025 budget) despite a reduc...

AI summary The document highlights a 42% increase in labor expenses for 2026 at Nova Scotia Power's Control Center, despite a reduction in employees due to a transfer to NSIESO. The request seeks details on the rationale for hiring additional staff for operational needs and the forecasted FTE numbers from 2024 to 2028.

Request IR-88: - Reference: Exhibit N-5, Appendix 3A, p. 5 - NS Power states it intends to file an application seeking approval to decommission the Annapolis - Tidal Generation Facility in 2026 and recover the remaining net book value over...

AI summary NS Power plans to decommission the Annapolis Tidal Generation Facility in 2026 and recover the remaining net book value over ten years, including $2.6 million in the 2027 revenue requirement. The proceeding seeks clarification on the expected filing date and whether the approval and amortization period will be subject to regulatory determination, despite the forecast.

Maritime Link

AI summary The document pertains to the 'Maritime Link' regulatory proceeding, involving Nova Scotia Power Inc. (NSPI) and related entities. Key elements include rate applications, renewable energy programs, and regulatory frameworks. The context highlights acronyms and organizations central to the proceeding.

Request IR-102: - Please provide the most recent credit rating reports for NS Power from S&P and DBRS - Morningstar.

AI summary The request seeks the latest credit rating reports for NS Power from S&P, DBRS, and Morningstar, focusing on financial assessments relevant to Nova Scotia's energy sector.

Request IR-138: - Reference: OATT Updates SR-01 Attachment 1e - On page 42 of 42, NS Power stated: … NS Power conducted an analysis of historical day-ahead dispatch plans for the years 2021 to 2023. On average, the Combustion Turbines (CTs...

AI summary NS Power adjusted cost allocation for 30-Minute Supplemental Reserve based on Combustion Turbines' contribution (35% hourly). OATT requests clarification on dollar impact, demand charge decreases in 2026, and details about extending the Storm Cost Recovery Rider (SCRR) pilot. Questions focus on cost recovery mechanisms, pilot success metrics, and alignment with regulatory frameworks like the Public Utilities Act.

Request IR-147: - Regulation 5.1 provides customers with the ability to record their meter readings and submit those - to NS Power for billing purposes. That Regulation also states that an actual reading must be taken - by NS Power at leas...

AI summary Regulation 5.1 allows customers to submit meter readings to NS Power and mandates periodic in-person readings. The request seeks confirmation of the Board's authority to amend the regulation and identification of legal requirements mandating the 12/6-month reading intervals.

December 11, 2025 Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor Halifax, NS B3J 3S3 Re: M12451 2026-2027 General Rate Application - Hearing Logistics Dear Ms. Henwood: Nova Scotia Power ("NS...

AI summary Nova Scotia Power (NS Power) requests confirmation of its approach to presenting expert evidence at the 2026-2027 General Rate Application (GRA) hearing. NS Power proposes allowing experts to orally respond to Board Counsel's consultants' evidence, citing the Amended Hearing Order and the Settlement Agreement. This method aims to ensure a complete record efficiently, referencing precedent from the 2023-2024 GRA.

- 2026-2027 GRA U-05 Att 04 Excel - 2026-2027 GRA U-06 - 2026-2027 GRA U-06 Att 01 Excel - 2026-2027 GRA U-06 Att 02 Excel - 2026-2027 GRA U-06 Att 03 Excel - 2026-2027 GRA U-06 Att 04 Excel - 2026-2027 GRA U-06 Att 06 Excel - 2026-2027 GR...

AI summary Document lists attachments (Excel files) related to a 2026-2027 GRA proceeding, with Sofia Reiner of Nova Scotia Power providing contact information. No explicit arguments or claims are stated in the text.

ii. Minor issue in OATT Ancillary service revenue requirement As highlighted in REI's Submission regarding 2026 Annually Adjusted Rates7 , there are at least two inconsistencies between GRA SR-01 ATT 12 – Summary Rates8 , and ATT 11 – Anc...

AI summary The text identifies inconsistencies between hardcoded MW figures in GRA SR-01 ATT 12 and ATT 11 – Anc Serv – Fig 6.89, as noted in REI's 2026 rate submission. REI acknowledges these discrepancies may not materially affect rates but emphasizes the need for rectification in record keeping.

iii. Impact Both coincident factors and system peaks feed into the transmission and ancillary service portions of the OATT. The OATT costs per MW would be lower, if the figures in the updated COSS were used. 2 N-17(i) - GRA SR-01- Att 11 –...

AI summary The updated COSS would lower OATT costs. Discrepancies in coincident factors may lead to higher rates for LRS customers, causing overcollection and inconsistent pricing, violating Energy and Regulatory Board Act principles of competition.

iv. Suggested action/changes We respectfully request that the Board direct NSPI to ensure consistency and accuracy between the COSS and the OATT calculations. Consideration should also be given to updating the OATT calculation process to a...

AI summary The request urges the Board to direct NSPI to ensure consistency between COSS and OATT calculations and update OATT to align with rate class causation from the latest COSS. This aims to improve accuracy and regulatory alignment in transmission tariff processes.

i. FAM Forecast accuracy and process REI submits that increased accuracy in fuel forecasts is not only beneficial for NSP customers, as interest on fuel cost deferrals is avoided, but also essential for encouraging competition in Nova Scot...

AI summary REI argues that NSP's inaccurate FAM forecasts have caused persistent deficits, unfair market conditions, and requests improved forecasting and adherence to FAM POA. They cite the Energy and Regulatory Board Act and reference M12551, highlighting structural biases in forecasting and impacts on competition.

10 The Board Should Accept the Settlement Agreement 11 12 The GRA and the Settlement Agreement on which it is based are the product of months of 13 consultation among Nova Scotia Power and its Customer Representatives, supported by expert...

AI summary The Settlement Agreement and GRA resulted from extensive consultations between Nova Scotia Power, Customer Representatives, and expert consultants. All parties made concessions, and the Agreement received support from customer groups and expert reviews, which did not recommend its rejection. The Board is urged to accept the Agreement as just, reasonable, and in the public interest.

13 C. Securitization 14 15 A key feature of the GRA and the Settlement Agreement is the securitization of the thermal assets 16 of the Utility, which it values at approximately $700 million dollars. Securitization would remove 17 the net b...

AI summary The document discusses the securitization of Nova Scotia Power's thermal assets valued at $700 million, which would reduce its rate base and revenue requirements. However, securitization depends on provincial regulations yet to be issued. Nova Scotia Power seeks to defer costs until securitization is approved, but Premier Tim Houston has raised concerns about asset valuation. Failure to secure securitization could lead to revising the GRA and higher rates.

22 Conclusion 23 24 As has been noted several times in these submissions, the Consumer Advocate supports the 25 outcomes of the GRA, which are based on the Settlement Agreement to which the Consumer 26 Advocate is a party. However, it must...

AI summary The Consumer Advocate supports the GRA outcomes based on the Settlement Agreement but highlights uncertainties around securitization of Nova Scotia Power's thermal assets and Port Hawkesbury Paper's inclusion as an above-the-line customer. These uncertainties could affect revenue requirements and future rate approvals.

reaching the Consensus Agreement on the COSS issues, the intent would not be for these issues to be immediately re-opened for review in the next GRA as recommended by Synapse. As Mr. Williams stated: "Thanks, Mr. Mahody. I think what the S...

AI summary The Consensus Agreement on the COSS should not lead to immediate re-opening of issues in the next GRA, as per Synapse's recommendation. Mr. Williams clarifies that the Settlement Agreement allows parties to take positions in future proceedings, with the Minimum System designated for further consideration in 2026. Parties expect avoiding redundant cost-of-service processes.

together with the economic circumstances facing ratepayers, the Department submits that NS Power has not met its burden of demonstrating that the proposed rate changes satisfy the statutory standard.

AI summary The Department argues that NS Power has failed to prove that proposed rate changes meet statutory standards, considering the economic impact on ratepayers.

. The ruling established that MEUs are responsible for paying stranded costs in certain circumstances. - 56. Interestingly, in a settlement agreement reached in respect of the 2022 rate increase application - Settlement Agreement – Nova Sc...

AI summary The text discusses a ruling on MEUs paying stranded costs, referencing a 2012 Board decision reaffirmed in a 2022 settlement agreement (M10431). NS Power emphasizes the continued application of this principle to other entities, while questioning whether NS Power mitigated risks by investing in coal assets starting in 2011.

Securitization - 89. It is not possible to discuss asset valuations without addressing NS Power's hopes around securitization. - 90. The Department is always open to any opportunity to deliver relief to ratepayers. The Province has repeate...

AI summary The Department supports securitization only if it demonstrably benefits ratepayers, citing past initiatives like debt buybacks and emissions savings that reduced rates by 19%. However, uncertainty around coal asset valuations and risks of future ratepayer costs prevent approval. The Province has not committed to regulatory changes for securitization and rejects NS Power's proposal until proven cost-effective.

um system requirements distorts cost causation. 27 While Ms. Palmer characterizes the minimum-system method as flawed, it remains recognized in the NARUC Cost Allocation Manual. 28 Further, as noted above, other parties compromised on othe...

AI summary The text discusses methodological disputes in cost allocation, noting the minimum-system method's recognition in NARUC guidelines despite Ms. Palmer's criticism. It highlights compromises during settlement negotiations, including PHP's High Voltage transmission proposals, NSPI's data collection commitments, and the Industrial Group's Maritime Link classification concerns. The Consumer Advocate approved the distribution classification review process.

2 NSUARB Decision (M10431), 2023 NSUARB 12, pages 31-33, at paragraphs 57 - 59. 1 2 parties and the Board are well informed about the case in advance of any oral public hearing. 3 [16] The public can rest assured that the Board Members hea...

AI summary The NSUARB Decision (M10431) discusses the Board's approach to settlement agreements in regulatory matters, emphasizing that they must be in the public interest and ensure just, reasonable rates. The GRA Settlement Agreement in this proceeding was reached after a full evidentiary record with extensive documentation and stakeholder input.

- 12 The SBA acknowledges that residential rate classes are impacted by the use of the Minimum 13 System Method; however, the SBA respectfully submits in assessing the COS methodology, there 14 has to be a proper consideration of actual co...

AI summary The SBA argues that the Minimum System Method unfairly shifts costs to non-residential rate classes, emphasizing the need for proper cost-of-service (COS) analysis. It highlights that the Settlement Agreement includes a temporary use of the method (2026-2027) and a commitment to revisit the methodology post-2027. The SBA stresses that cost causation, not just impact, must guide COS methodology.

ciation expense and financing costs of the unrecovered net book value of the DDA be 14 M12451, Evidence of NSPI, Transcripts January 7, 2026 - Page 213, at lines and Page 214, at lines 1-2. - appropriate, that it should be effective no ear...

AI summary The Small Business Advocate (SBA) submits that the Settlement Agreement is comprehensive, fair, and equitable for Nova Scotia's small businesses, recommending the Application be approved by the Board. The SBA emphasizes the agreement's thorough development with customer representatives and experts. The text references matter M12451 and a submission dated January 30, 2026.

January 30, 2026 James A. MacDuff Direct +1 (902) 444 8619 [email protected] Purdy's Wharf Tower II 1300-1969 Upper Water Street PO Box 730 Halifax NS Canada B3J 2V1 Tel +1 (902) 425 6500 Fax +1 (902) 425 6350 Ms. Crystal Hen...

AI summary The Berwick Electric Commission, Riverport Electric Light Commission, and the Towns of Antigonish and Mahone Bay submit closing remarks supporting approval of a Consensus Agreement with Nova Scotia Power Inc. (NS Power) for its 2026 General Rate Application (GRA). The submission references the Board's 2008 decision emphasizing the value of settlement agreements in the public interest.

rting the outstanding balances owed to debt, which carries a lower cost of capital and does not provide NS Power with the opportunity to earn any further return on equity in relation to those amounts. It is worth noting that NS Power was i...

AI summary NS Power initially opposed securitization in its 2022-2024 GRA, citing lower cost of capital and no return on equity. The Board directed an investigation into securitization after NS Power failed to address it in its DDA application (M11220). The Energy Reform Act (2024) and subsequent Board decisions prompted NS Power to engage in securitization to reduce costs below WACC.

1.0 INTRODUCTION AND OVERVIEW In this proceeding, Nova Scotia Power (NS Power, Company)seeks approval from the Nova Scotia Energy Board (NSEB or Board) of its revenue requirements and associated rate adjustments for the 2026 and 2027 test...

AI summary Nova Scotia Power (NSP) seeks approval for 1.8% and 2.4% annual rate increases in 2026 and 2027, with higher residential increases and industrial decreases. A Settlement Agreement, supported by advocates and stakeholders, outlines collaborative cost-of-service study outcomes. The agreement balances rate adjustments and reflects consensus-building efforts.

- Section 25(1) of the Board Regulatory Rules expressly authorizes the Board to dispose of all or - part of a proceeding by approving a settlement of one or more issues entered into among the parties. - The Settlement Agreement filed in th...

AI summary The document discusses the Board's authority to approve settlement agreements in proceedings, emphasizing that such agreements, when supported by a broad range of stakeholders, are in the public interest and should be given significant weight. This particular settlement relates to the 2026-2027 GRA and has been supported by multiple parties, including the Consumer Advocate and various industry groups.

This GRA is the result of an extensive collaborative process involving NS Power and all customer representatives, who, as a result of that process, are supportive of the outcomes being requested in this GRA. The Board has previously stated...

AI summary The Settlement Agreement (GRA) resulted from collaboration between NS Power and customer representatives, supported by all customer classes. The Board emphasizes that such support confirms the agreement's public interest, with legal counsel and experts involved. The agreement balances reciprocal compromises, with interdependent terms that cannot be modified without disrupting the overall balance, as noted by various consultants.

NS Power's annual financial statements are prepared in accordance with applicable accounting standards and are independently audited, and the Company's Management's Discussion and Analysis (MD&A) is filed quarterly and publicly disclosed....

AI summary NS Power's financial statements comply with accounting standards and Board policies, with external audits and NSEB reviews. The DDA (Matter M11220) allows cost recovery via alternative mechanisms. The Energy Reform (2024) Act (Bill 404) enables securitization through amendments to the Public Utilities Act, signaling legislative intent. The Province remains committed to developing the regulatory framework.

other classes are lower due to the assumed fixed cost recovery included in the forecast embedded cost-based rates applicable to PHP. To address potential revenue variances arising from differences between a Board-approved tariff for PHP an...

AI summary NS Power proposes a PHP Deferral account to manage revenue variances between GRA assumptions and actual outcomes, including the new ELIDT tariff. The ELIDT Application (M12661) aims to transition PHP to the ELIDT by 2027 as the ELIADC tariff expires in 2026.

n> DATE FILED: January 30, 2026 Page 47 of 55 Exhibit N-32, Evidence – Cleary, p. 79 (PDF p 80). Exhibit N-3, NS Power 2026-2027 GRA Direct Evidence, Section 10.3.1.

AI summary Document references Exhibit N-32 (Cleary, p. 79) and Exhibit N-3, which includes NS Power's 2026-2027 GRA Direct Evidence under Section 10.3.1. These exhibits pertain to regulatory proceedings involving Nova Scotia Power and the NSUARB.

4.1 Future of Hydro in Nova Scotia The Board Panel's questions during the hearing appropriately highlighted both the magnitude of NS Power's potential hydro decommissioning obligations and the substantial uncertainty surrounding the ultima...

AI summary The Board Panel emphasized uncertainties around NS Power's hydro decommissioning obligations and the lack of a multi-stakeholder framework for decisions. NS Power acknowledges its responsibility to initiate discussions with regulators and stakeholders but notes outcomes are not solely within its control. The Integrated Resource Plan (IRP) will evaluate hydroelectric units based on historical data and constraints to inform future decisions.

he Elenchus jurisdictional scan showed that across Canada, either the Minimum - 20 System or Zero Intercept method is chosen and that the Basic Customer Method has not been - endorsed by any Canadian regulators. 4 21 - 22 Furthermore, in t...

AI summary The text notes that the Basic Customer Method is not endorsed by Canadian regulators, contrasting with the Minimum System or Zero Intercept methods. In Connecticut, Ms. Palmer's advocacy for the Basic Customer Method was rejected by the Connecticut Public Utilities Regulatory Authority.

1 DOE submissions do provide support for Mr. Coyne's evidence as they only serve to further 2 demonstrate NS Power's risk profile is higher than its peers. NS Power continues to rely on the 3 evidence on the record in this proceeding and o...

AI summary NS Power responds to the DOE's closing submission, asserting its higher risk profile justifies a 9% return on equity. It references a 2010/2011 depreciation study (M03665) with retirement dates for power plants, influenced by carbon regulations. NS Power cites evidence from the Consumer Advocate, NSEB counsel, and industry representatives.

10 DOE Closing Submission, page 11. 1 However, the DOE's position is entirely without merit for the following reasons: 2 3  The coal assets are not stranded. They are operational assets used in the provision of electricity 4 service to No...

AI summary The DOE argues that coal assets are not stranded and are still used and useful in providing electricity services. It emphasizes that NS Power is entitled to a return on capital under the PUA and that the UAD line of decisions is not applicable outside Alberta. The submission highlights that depreciation rates for coal assets would be adjusted with accelerated retirement dates, but this could lead to rate increases. NS Power, with customer support and Board approval, is pursuing an alternative approach to reduce costs.

1 as part of the negotiated outcome. Labour expense represents a significant portion of OM&G 2 expense, as a result a reduction to staffing levels will be necessary to achieve these savings. Not 3 only is there substantive evidentiary supp...

AI summary NS Power argues that labor expense reductions require staffing cuts but emphasizes evidentiary support for these costs. It contends the DOE erred in denying its use of the Board-approved WACC for financing deferred liabilities, asserting this aligns with the regulatory compact and PUA Section 64AB. NS Power maintains its right to recover prudently incurred costs, including financing expenses, through the WACC mechanism.

SWEB DEVELOPMENT Mason Baker BOARD COUNSEL: William L. Mahody, K.C. HEARING DATE(S): January 7-13, 2026 FINAL SUBMISSIONS: February 6, 2026 DECISION DATE: March 25, 2026 DECISION: The application is approved as amended by the Board. The re...

AI summary The Board approved Mason Baker's application as amended, with revised rates to be confirmed via a compliance filing. The hearing occurred January 7-13, 2026, with final submissions on February 6, 2026, and a decision on March 25, 2026.

1.0 SUMMARY - [1] The Nova Scotia Energy Board is keenly aware that electricity rates are already challenging for many customers, and any rate increase will be difficult, especially for those with low or fixed incomes. However, the Board d...

AI summary The Nova Scotia Energy Board cannot set special rates for low-income customers due to legal constraints under the Public Utilities Act . NS Power filed a GRA proposing rate increases (1.8% in 2026, 2.4% in 2027) with variations across customer classes. The Board must allow recovery of prudent costs, and NS Power's application was supported by a settlement agreement filed in November 2025.

Powers and duties - 5 (1) The Energy Board has those functions, powers and duties that are conferred or imposed upon it - (a) by this Act; - (b) by the More Access to Energy Act ; - (c) respecting the production, transmission, delivery or...

AI summary The Energy Board's powers and duties are derived from multiple legislative acts, including the More Access to Energy Act and Public Utilities Act, as well as regulations set by the Governor in Council. The Governor in Council may also assign responsibilities to the Energy Board, discontinuing other boards or agencies during the assignment period.

a Scotia (Public Utilities Board) v Nova Scotia Power Corporation , (1976) 18 NSR (2d) 692 (the Contracts Case ) is often referenced for its consideration of the scheme of regulation under the PUA : - 17 The scheme of regulation establishe...

AI summary The Contracts Case (1976) 18 NSR (2d) 692 establishes that Nova Scotia's Public Utilities Board must regulate utilities to ensure rates are 'just, reasonable, and sufficient' while providing 'adequate' service under the PUA . Key provisions include §42(1), allowing the Board to determine annual returns based on a rate base, and §48 requiring utilities to provide 'reasonably safe and adequate' service.

CRITERIA OF A SOUND RATE STRUCTURE - 1. The related, "practical" attributes of simplicity, understandability, public acceptability, and feasibility of application. - 2. Freedom from controversies as to proper interpretation. - 3. Effective...

AI summary The document outlines seven criteria for a sound rate structure, emphasizing simplicity, revenue stability, fairness, and efficiency. It references James Bonbright's principles and cites legal precedents, including the Public Utilities Act and the Supreme Court of Canada's Vavilov decision, to guide regulatory assessment.

competition in two ways. It sets an unrealist benchmark of posted retail rates for comparison purposes, and it creates an ongoing fuel liability for customers looking to leave NSPI bundled service. … REI respectfully requests that the Boar...

AI summary REI requests NSPI to improve fuel cost forecasting accuracy and adhere to the FAM POA for recovering fuel overages annually. NS Power argues compliance with the POA and bi-annual audits by Bates White validate their forecasting methods.

3.2.2.3 Findings [67] NS Power is directed to make the change to s. 3.2.8 of the FAM POA discussed in NSEB IR-33. The Board approves NS Power's other proposed amendments to the FAM POA and to the FAM Tariff. [68] As noted above, the Board...

AI summary The NS Power is required to amend section 3.2.8 of the FAM POA as outlined in NSEB IR-33, with other amendments approved. The Board rejects the Fuel Manual and Hedging Plan, reiterating NS Power's responsibility for prudent fuel management.

3.3.2 Executive Compensation [108] The Public Utilities Act prohibits NS Power from recovering bonuses and incentives paid to an executive employee. Other remuneration may only be recovered as prescribed by regulation: - 64B (8) Nova Scoti...

AI summary The Public Utilities Act prohibits NS Power from recovering executive bonuses and incentives, while other remuneration may be recovered if prescribed by regulation. The Nova Scotia Power Incorporated Regulations (NS Reg 231/2012) outline permissible recovery of executive compensation.

Salary and compensation recoverable from rates, charges or fees 3 For the purpose of subsection 64B(8) of the Act, Nova Scotia Power Incorporated may recover the following remuneration from its rates, charges or fees approved by the Board:...

AI summary Nova Scotia Power Inc. (NSP) may recover executive compensation from rates, charges, or fees under subsection 64B(8) of the Act. The regulations reference a revised Senior Officials Pay Plan (Order in Council 2023-138), which replaced the previous plan (Order in Council 2007-85). NSP calculates CEO compensation as 10% above the new plan's maximum, while other executives are capped at 100% compa-ratio plus 13% benefits.

Repeal and substitution by amendment or revision - 24 (1) Where an enactment is repealed and other provisions are substituted by way of amendment, revision or consolidation, - (b) a reference, in an unrepealed enactment to the repealed ena...

AI summary The Nova Scotia Utility and Review Board (NSUARB) addresses the repeal of NS Power's old pay plan and substitution with a new one. The new plan allows CEO remuneration exceeding Deputy Ministers' maximum pay, conflicting with prior intent. The Board permits 100% of the SO5 scale for the CEO but mandates a 10% differential for other executives until regulatory amendments.

3.4.1.1.1 Production Plant [142] As it relates to its generation assets, NS Power's depreciation study requires it to estimate the future cost of decommissioning its generation sites, as depreciation rates are generally set to recover the...

AI summary NS Power's depreciation study for generation assets includes decommissioning cost estimates, with the GRA settlement agreement removing inflation and contingency costs, leading to lower depreciation rates. Certain hydro systems' decommissioning costs are excluded from customer rates to balance cost recovery and rate pressure, with studies conducted by firms like Stantec and Hatch Ltd.

3.4.1.1.2 Transmission, Distribution and General Plant [148] Gannett Fleming's net salvage estimates for transmission, distribution and general Plant accounts were based in part on historical data compiled for the years 1993 through 2023....

AI summary Gannett Fleming's net salvage estimates for NS Power's transmission and distribution assets relied on historical data and management insights. The GRA settlement agreement reduced salvage rates for specific accounts (e.g., Transmission Towers, Distribution Conductors), lowering NS Power's proposed depreciation rates. Historical data from 1976-1992 provided limited probative value due to aggregated reporting.

3.4.1.2 Estimated Average Asset Service Lives [151] Key elements influencing the determination of depreciation expense are average asset service lives and survivor curves. Survivor curves (also referred to as Iowa curves) are a series of c...

AI summary The section discusses the use of survivor curves to estimate asset service lives for depreciation calculations. The GRA settlement agreement extended service lives for two accounts, reducing depreciation rates. Mr. Madsen disputed the recommended survivor curve for Account 353, proposing an alternative curve while agreeing with the curve for Account 390.10.

lti-stakeholder framework for determining whether, when, or how full or partial decommissioning of hydro facilities should occur, nor who would ultimately bear responsibility. NS Power further stated: … NS Power views the present proceedin...

AI summary NS Power proposes a structured approach to address hydro decommissioning, emphasizing stakeholder engagement and regulatory oversight. The Board agrees, directing NS Power to initiate stakeholder discussions, file regular updates, and include decommissioning costs in future rate applications if needed. The process aims to ensure transparency and coordination in addressing hydro asset decommissioning impacts.

3.4.2.1 Findings [202] John Wiedmayer, of Gannett Fleming, and Mr. Madsen agree that ELG and ALG are both acceptable and appropriate procedures to determine depreciation expense. They also agree that both procedures require the use of sign...

AI summary John Wiedmayer and Mr. Madsen agree that ELG and ALG are both valid depreciation methods, yielding equivalent total depreciation over an asset's life. They note ALG's prevalence in the U.S. and ELG's adoption in Alberta/Newfoundland, with modern computing easing ELG calculations. ALG remains common in Prince Edward Island via Maritime Electric.

count 367 Underground Conductors and Devices: In its next depreciation study, NS Power should explain the proposed life and why that life is appropriate considering NS Power's facts and circumstances. • Account 390.10 – Structures and Impr...

AI summary The Board directs NS Power to provide detailed asset lifespan data, management notes, IRP reconciliations, and peer analysis in its next depreciation study. Recommendations include disclosing asset retirement dates and aligning depreciation lives with IRP documents, supported by NS Power witnesses and Mr. Madsen's input.

3.4.4 Amortization Accounting for General Plant Assets [256] NS Power has proposed the use of amortization accounting for certain General Plant accounts that represent numerous units of property, but a very small portion of depreciable ele...

AI summary NS Power proposes using amortization accounting for specific General Plant accounts with numerous small-value assets, citing industry precedents and FERC approval. The approach involves 5-20 year amortization periods for items like computer equipment and furniture, with reserve imbalances amortized over 5 years. The method aligns with practices at utilities like BC Hydro and Newfoundland Power, supported by Gannett Fleming's depreciation study.

o longer earn a return on the assets. Further, since the debt associated with the assets has been removed from the balance sheet, the securitization results in improved credit metrics for the utility. [283] There are a few steps to impleme...

AI summary Securitization of assets improves credit metrics by removing debt from the balance sheet. Key steps include legislative authorization, a financing order, and creating a charge/pledge for bondholders. NS Power must address corporate structure issues and credit rating considerations, as outlined in prior regulatory matters.

322] As noted above, the approval of the potential securitization is not before the Board in this application. Whether securitization ultimately proceeds is a policy matter for the Province to decide. [323] NS Power requested the deferral...

AI summary The NS Power requested a deferral account for potential securitization of coal plant assets, but the Province is not currently supporting securitization. The Board approves the deferral account, finding that depreciation and financing costs should be deferred as they relate to assets used in test years. The Province's hesitation stems from concerns about asset valuation.

3.5.1.3.1 Findings [334] Based on the evidence of NS Power and Doane Grant Thornton, the Board finds it appropriate to approve the EIFEL deferral.

AI summary The Board approves the EIFEL deferral based on evidence from NS Power and Doane Grant Thornton. This decision relates to managing excessive interest and financing expenses within the regulatory framework.

3.5.1.4 PHP Deferral [335] PHP currently takes service from NS Power under the Extra Large Industrial Active Demand Control (ELIADC) tariff, which is a Below-the-Line (BTL) tariff. The costof-service study supporting this general rate appl...

AI summary PHP currently uses NS Power's ELIADC BTL tariff, but a GRA assumed an ATL tariff by 2026. NS Power extended ELIADC until 2026 (M12184) and applied for a successor ELID ATL tariff (M12661), with PHP expected to switch by 2027. The GRA included ADC service recovery and interruptible credits for ATL customers.

prohibition against retroactive ratemaking, it is beneficial for the Board to have some flexibility to address extraordinary or novel situations by relaxing the rule against retroactive ratemaking so that the interests of both the utility...

AI summary The document discusses the Nova Scotia Utility and Review Board's consideration of retroactive ratemaking flexibility, referencing the Hurricane Fiona Decision's criteria for extraordinary expenses. It concludes that current GRA-related expenses do not meet exceptions for retroactive adjustments, as they were foreseeable and not significant. The Board emphasizes balancing utility and ratepayer interests without enabling frequent rate changes.

3.6.2.1 Findings [374] The Board notes that Undertaking U-64 in the 2023-2024 GRA referred to the forecast NSP Maritime Link Incorporated surplus energy purchases. While not specifically defined, the Board agrees that, in the context of th...

AI summary The Board agrees that 'surplus energy' includes both EAA and bilateral market-priced energy, allowing NS Power to include Maritime Link projects in rate base via U-24 and U-25. Inclusion is go-forward only, with no recovery of past depreciation. The Board also notes customer benefits from Nalcor's surplus energy, though EAA compliance may require distinguishing between EAA and bilateral arrangements.

he Department submits that, at least as early as 2016, NS Power knew that its coal assets must be retired by 2030 but did not take this into consideration when valuing its assets. The Department said: In the 2022 GRA, the Department submit...

AI summary The Department argues that NS Power failed to write down coal assets by 2030, leading to ratepayer costs, and the 2020 Integrated Resource Plan contradicted federal policy. Regulatory standards require impairment when early retirement is probable, yet NS Power did not adjust valuations despite clear legislative mandates.

Duty of utility to furnish information - 33 (1) Every public utility shall furnish to the Board from time to time, and as the Board may require, maps, profiles, contracts, reports of engineers and other documents, records and papers, or co...

AI summary The section outlines the duty of public utilities to provide information to the Board for valuation purposes, including maps, contracts, and reports, and to report changes in their property. The Board must keep informed of changes and revise valuations accordingly.

ll be used to determine rates and the revenue derived from rates will inform the value of the rate base). [403] Bonbright notes that out of this criticism sprung the cost-based approach to valuation: Impressed with the force of the vicious...

AI summary The text discusses Bonbright's argument for a cost-based approach to rate base valuation, emphasizing administrative efficiency and capital access. It critiques value-based approaches as flawed, advocating instead for original cost rate bases to avoid circularity in rate-making and ensure fair return standards.

Cost Allocation Concept This concept recognizes the original cost of the asset as a prepaid expense. As such, it must be allocated to specific accounting periods and realized on income statements during the time the asset is providing serv...

AI summary The cost allocation concept treats asset costs as prepaid expenses, allocating them over accounting periods to match expenses with revenues. Depreciation records asset usage but does not automatically recover investment unless revenues cover expenses. The text emphasizes the importance of verifiability and neutrality in accounting and references NARUC's 2021 publication on depreciation.

Property, Plant and Equipment Property, plant and equipment ("PP&E") are recorded at original cost, including allowance for funds used during construction ("AFUDC") or capitalized interest, net of contributions received in aid of construct...

AI summary The document outlines accounting practices for Property, Plant and Equipment (PP&E), including cost recording, depreciation methods, and regulatory approvals. PP&E are recorded at original cost, with depreciation determined via straight-line methods based on service lives approved by the UARB. Intangible assets are amortized similarly, requiring regulatory approval. References to [M11090, Exhibit N-1, Attachment 2, p. 13] are included.

ttps://www.canlii.org/en/commentary/doc/2024CanLIIDocs3091?searchId=2026-02-23T13:50:24:001/a0a9643dde1b492e946f84b2ea38d343&resultId=9afc1731afa4497c82ddc0deb60bac70&zoupio-debug#page-30) and stated: To the extent that costs transferred t...

AI summary The document discusses the recovery of undepreciated costs through the Decarbonization Deferral Account (DDA) when government funding is absent, emphasizing the need for flexible approaches to address energy transition costs. It affirms the NSUARB's decision to use DDA, aligning with Canadian regulatory principles and the Alberta Court of Appeal's ruling on utility cost recovery.

3.6.3.1.3 The Requirement for Prudence [429] Prudence is, of course, always a consideration. The language used in s. 30(2) of the Public Utilities Act is not simply "original cost" but "prudent original cost". A utility is entitled to the...

AI summary The requirement for prudence in utility cost recovery under the Public Utilities Act emphasizes that costs must be 'prudent original cost,' not merely original cost. The Nova Scotia Utility and Review Board (NSURB) references prior decisions, including principles from the Industrial Group, which outline a presumption of prudence for utilities like NS Power. Disagreements arose over applying these principles in FAM audits, particularly regarding rebutting the presumption and defining imprudence.

[431] The Board went on to find: [42] In summary, the Board finds that the threshold for rebutting the presumption of prudence is contextual. It requires a reasonable question – something that is more than a bald statement or speculation –...

AI summary The Board clarifies that the presumption of prudence can be rebutted with reasonable questions, not just speculation, in FAM Audits. The Department of Natural Resources and Renewables (NRR) argues NS Power's prudence may be flawed due to low depreciation rates on retiring coal assets and unnecessary investments ahead of retirements.

l-recognized and long-standing legal standard the Board must follow when approving a utility's return on its invested capital. A century ago, the Supreme Court of Canada described the test as follows: 18 The duty of the Board was to fix fa...

AI summary The text outlines the legal standard for fair return on invested capital, citing the Supreme Court of Canada's 1929 decision that rates must balance consumer fairness and company returns equivalent to other investments. The court emphasized that a fair return should mirror returns from comparable securities, ensuring neither overcharging consumers nor undercompensating the utility.

3.7.5 Findings [511] It bears repeating that for at least a century, the Supreme Court of Canada has recognized that investors in regulated utilities are entitled to a fair return that is comparable to the return they would see from other...

AI summary The Supreme Court of Canada emphasizes that regulated utilities must offer investors a fair return comparable to similar investments to ensure operational sustainability. Factors like comparable returns and financial integrity are key, while affordability and reliability are addressed through other regulatory tools. The NSUARB's 2005 decision on NS Power's rate request is referenced, influenced by a 2004 winter storm and Premier John Hamm's review request.

y Canadian CFOs, as mentioned earlier. Thus, the BYPRP approach accounts for interactions between company debt costs and equity markets, and as such it is intuitively sound. [Exhibit N-32, pp. 74-75] [516] Dr. Cleary gives equal weighting...

AI summary The analysis discusses the BYPRP approach to Return on Equity (ROE), which considers interactions between debt costs and equity markets. Dr. Cleary's method uses equal weighting of three approaches, while Concentric emphasizes the need for multiple models and informed judgment. Other regulators (BCUC, OEB, AUC) support using multiple methodologies for fair ROE determination.

3.7.5.2 Capital Structure [560] NS Power proposed to maintain its capital structure of 40% equity and 60% debt. This request was supported by its expert witness Concentric (which considered 45% would be appropriate), Board Counsel consulta...

AI summary NS Power proposed maintaining a 40% equity/60% debt capital structure, supported by Concentric, Dr. Cleary, and settlement agreement signatories. No opposition was raised, and the Board approved the proposal.

w they receive service from the utility. Other differences, such as a customer's ability to pay, cannot be used to establish rates in Nova Scotia (based on the legislation as it is currently written): - [23] DLA's factum said that low inco...

AI summary The text discusses legal interpretations of Nova Scotia's rate-setting laws under section 67(1) of the Public Utilities Act (PUA). It addresses whether income disparities justify differing rates for low-income customers, with the Nova Scotia Utility and Review Board (NSURB) emphasizing that service similarity—not income—determines rate equity. DLA's initial argument was rejected, as the Board affirmed that equal charges are mandatory for similar service, regardless of income.

Radial to Generation NS Power proposes that radial-to-generation assets, as defined under the OATT, be re-functionalized from transmission to generation in the cost-ofservice study for consistent treatment of these assets under the transmi...

AI summary NS Power proposes reclassifying radial-to-generation assets from transmission to generation in the cost-of-service study to ensure consistent treatment under transmission pricing methodologies, align with North American utilities, and adhere to FERC's pro forma OATT design.

aining cost of the secondary distribution system is a cost which varies continuously (and, perhaps, even more or less directly) with the maximum demand imposed on the system as measured by peak load. But if the hypothetical costs of a mini...

AI summary The text discusses the classification of minimum system costs, arguing they are unallocable as they don't fit into demand or customer cost categories. It critiques FERC's approach and Sterzinger's (1981) recommendation to classify distribution costs as demand costs, noting both methods are nonassignable. The debate centers on cost-allocation methodologies in utility regulation.

3.9 Rate Design [644] In its application, NS Power did not propose to introduce new concepts or materially change the design of any of its rates. The parties to the settlement agreement accepted the changes to tariff language and the updat...

AI summary NS Power did not propose new rate concepts or significant changes to rate design in its application. The settlement agreement parties accepted proposed tariff language updates and charge adjustments. Other parties did not raise concerns about these changes in evidence or submissions. The Board accepts these items as filed unless otherwise directed.

7th percentile usage of Reactive Power from generation. [658] The 2023-2024 GRA (M10431) Board Order included the following directives regarding the OATT and capacity-based ancillary services (CBAS): - To explore options with Northern Powe...

AI summary The 2023-2024 GRA (M10431) Board Order directed NS Power to address OATT and CBAS issues, including interruptible load treatment, -16 MW Automatic Generation Control requirements, Wreck Cove reserve calculations, and CT unit exclusion. NS Power responded to these directives, and the text explains Ancillary Services' role in transmission reliability and OATT obligations.

3.10.2.1 Findings [680] The Board has several concerns with NS Power's request to implement AMI opt-out fees at this time. Based on the responses provided during the hearing, it appears that meter reader costs associated with opt-out meter...

AI summary The Board rejects NS Power's request to implement AMI opt-out fees, citing insufficient cost delineation, questionable forecasts (e.g., 20x increase in customer care costs), and reluctance to adopt self-reporting options for opt-out customers. NS Power's dismissal of self-reporting is challenged, as existing practices (e.g., accepting photo readings) contradict claims of feasibility issues. The Board directs NS Power to address these concerns in a compliance filing.

3.10.3 Revised Fees and Regulations [685] In its application, NS Power proposed revisions to its Schedule of Charges, such as for connection, reconnection, returned cheques, installation of recording equipment, contribution for three-phase...

AI summary NS Power proposed revisions to its Schedule of Charges, including connection, reconnection, and other fees. The Board approved these revisions, except for the AMI opt-out fee, which is subject to prior findings.

is forecast to provide in the test period. It recommended that the proposed large increase in sustaining capital costs for Lingan 2 "be supplemented with additional narrative support" by the company. [715] In response to questions from Boa...

AI summary NS Power requested approval for sustaining capital costs for Lingan Unit 2, citing safety and compliance needs. The Board requested additional narrative support, with NS Power explaining reliance on asset management techniques and delayed refurbishment. Refurbishment is deemed necessary to avoid consequential damages, with costs separate from the proposed General Rate Application (GRA). NERC and NPCC requirements justify coal unit retention.

4.4.1 Findings [720] NS Power's firm capacity requirements in advance of 2030 continue to be the subject of review in several matters considered by the Board, including the Evergreen IRP Action Plan and Roadmap Update, the 10-Year System O...

AI summary The Board reviews NS Power's capacity requirements and approves OM&G costs for Lingan 2 and Trenton 5 due to reliability and compliance with NERC/NPCC. Sustaining capital costs for Lingan 2 are addressed in another proceeding, with the 2026 ACE Plan matter (M12619) noted as a future submittal.

4.5 Rate Setting – Alternative Form of Regulation [723] In its closing submissions the Nova Scotia Liberal Caucus urged the Board to exercise its statutory authority to move Nova Scotia toward a five-year rate plan that delivers stability,...

AI summary The Nova Scotia Liberal Caucus advocates for a five-year rate plan under the amended Public Utilities Act, enabling the Energy Board to use alternative regulation methods. The 2024 amendment allows rate-setting based on techniques deemed appropriate by the Energy Board, aligning with definitions in the Energy and Regulatory Boards Act.

5.0 SUMMARY OF MAJOR FINDINGS AND DIRECTIVES [733] The Board approves most components of the settlement agreement, subject to its findings below that amend the application. The following are approved:

AI summary The Nova Scotia Utility and Review Board approves most components of a settlement agreement, subject to amendments. The approval is conditional on the Board's findings, which modify the application. Key aspects of the agreement are accepted, but certain elements require adjustment.

[741] An Order will issue following the compliance filing. DATED at Halifax, Nova Scotia, this 25th day of March 2026. Stephen T. McGrath ______________________________ ______________________________ ______________________________ Roland A...

AI summary An order will be issued following a compliance filing in a Nova Scotia regulatory proceeding, dated March 25, 2026. The document includes signatures from Stephen T. McGrath, Roland A. Deveau, and Steven M. Murphy, indicating formal approval or acknowledgment.

NS Power GRA Compliance Filing There are four types of information for which NS Power requests confidential treatment. The GRA Compliance Filing only has one type that applies as described below.

AI summary NS Power requests confidential treatment for one type of information under the GRA Compliance Filing, despite four general categories of information typically eligible for such treatment. The filing focuses on regulatory compliance related to information disclosure.

Request IR-6: - On page 27 of the compliance filing, NS Power stated: "As 40% of the Company's customers are - still receiving paper bills by mail, this translates to approximately $200,000 in additional OM&G - costs for each additional bi...

AI summary NS Power's compliance filing states that mailing paper bills to 40% of customers incurs $200,000 in additional OM&G costs per bill period. The request seeks clarification on the meaning of 'each additional bill period' and whether the $200,000 figure represents total mailing costs.

Conclusion The Consumer Advocate thanks the Board for the opportunity to make these brief comments on the compliance filling of Nova Scotia Power. Yours truly, PINK LARKIN David Roberts, on behalf of Consumer Advocate DJR/aw

AI summary The Consumer Advocate provides brief comments on the compliance filing by Nova Scotia Power. The submission is made on behalf of the Consumer Advocate by David Roberts.

, could alleviate that concern. - [683] NS Power appears reluctant to consider providing opt-out customers with options such as self-reporting which could facilitate maintaining bi-monthly readings, or perhaps might require only a single m...

AI summary NS Power is reluctant to provide opt-out customers with alternative meter reading options, such as self-reporting or manual readings. The Board denies NS Power's request to impose opt-out fees or amend related regulations, directing the company to comply with the decision by removing specific definitions and proposed changes to regulations.

study to the lives proposed in the IRP; and - The peer analysis relied upon by the company in an Excel file (para. [255]); - f) To address the additional cost-of-service concerns raised by Synapse in its application to the Board later in 2...

AI summary The Board has ordered various actions including studies related to the IRP, addressing cost-of-service concerns, reviewing distribution system cost allocation methods, revising the Climate Change Adaptation Plan, and updating regulations as directed. These actions are part of ongoing regulatory oversight and compliance.

APPLICABILITY This schedule provides charges for Distribution System Access applicable to distribution-connected Renewable to Retail (RtR) Customers receiving supply of renewable low-impact electricity from a Licenced Retail Supplier as pr...

AI summary This schedule outlines charges for Distribution System Access applicable to Renewable to Retail (RtR) Customers in Nova Scotia, as governed by the Electricity Act .

NSP COST OF SERVICE PANEL 113 Cr-ex, (Mahody) 1 Q. And this exhibit also shows the 2 that this would require I'll just use the words on page 3 14: 4 5 6 7 8 9 Identifying the specific load carrying capacity of [Nova Scotia] Power's minimum...

AI summary The text discusses the complexity of identifying the specific load carrying capacity of Nova Scotia Power's minimum system study, referencing the Settlement Agreement and the need for further discussion in 2026. It highlights the recognition by the company and stakeholders of the complexity of the matter.

1 JIM COYNE, Solemnly Affirmed: 2 CRAIG FLEMMING, Solemnly Affirmed: 3 BLAKE WILLIAMS, Solemnly Affirmed: 4 MICHAEL WILLETT, Solemnly Affirmed: 5 EXAMINATION ON QUALIFICATIONS BY MR. CLARKE 6 Mr. Coyne. Mr. Coyne, you are Q. 7 employed by...

AI summary This text outlines the examination of Jim Coyne, who is providing evidence in a regulatory proceeding on behalf of Nova Scotia Power. Coyne has previously appeared before the Board in connection with rate applications and cost of capital proceedings. He confirms that his qualifications and evidence have been submitted as part of the application.

NSP GENERAL/REGULATORY PANEL 849 Questions, (Deveau) 1 our obligation to serve customers within Nova Scotia, and 3 achieved that particular result and how you would address 4 it or explain the difference? 5 A. (Flemming) We have, certainly...

AI summary The document discusses Nova Scotia Power's (NSP) obligation to serve customers within Nova Scotia and the challenges in comparing operational metrics across different jurisdictions and utility structures. NSP notes that while metrics for operational groups are available and comparable, corporate groups face difficulties due to lack of detailed information. ScottMadden is mentioned in relation to potential benchmarking solutions.

Ottawa, Ontario PAGE NO. 16 to bring that up? 17 BY MR. MAHODY: 18 Dr. Cleary, could you provide the Q. 19 Board with a brief outline of your professional experience INTERNATIONAL REPORTING INC. CERTIFIED COURT REPORTERS 1 and qualificatio...

AI summary The document includes a transcript of a proceeding where Dr. Cleary is being considered as an expert witness on cost of capital matters. He outlines his qualifications and previous appearances before regulatory boards in Canada, including the NSNB Reliability Intertie Project and NSMPL proceedings.

In-ch, (Mahody) 1 request that Ms. Palmer be accepted as an expert qualified 10 evidence N-37(c) and we'll start on page 1, please. 11 BY MS. POWER: 12 Q. So Ms. Palmer, it looks like 13 there are 21 pages here. Does this complete your wri...

AI summary The document is a proceeding transcript where Ms. Palmer is being questioned about her role as an expert witness in Nova Scotia Power's cost-of-service consultation process, which began in January 2024. She confirms her participation from summer 2024 through November 2024 and mentions that customer advocacy groups had their own expert consultants.