Topic:"Regulatory Compliance" in M12595

The Board understands that the reduction of $880,345 from the approved budget is primarily attributable to the outcomes of the RFP process, under which the costs for materials and contracted services associated with the rewind and refurbis...

AI summary The Board acknowledges a reduction of $880,345 in the approved budget for a project due to lower-than-estimated costs from the RFP process. The project was completed in October 2019, and the FIN was submitted late in April 2020. NS Power explains the delay was due to prioritization of other projects and the 2025 cyber incident. The Board approves the final cost of $635,776.

The Board understands that the reduction of $880,345 from the approved budget is primarily attributable to the outcomes of the RFP process, under which the costs for materials and contracted services associated with the rewind and refurbis...

AI summary The Board acknowledges a reduction in project costs due to the RFP process and approves the final cost of $635,776 for the project, which is $880,345 less than the original approved cost. The delay in submitting the FIN was attributed to resource prioritization and recovery efforts after a 2025 cyber incident, though the Board emphasizes the importance of timely submissions for regulatory compliance.