Topic:"Regulatory Oversight" in M12451

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AI summary Andrea Bezanson, a Nova Scotia Power (NSP) ratepayer, requests NSP and its parent company Emera to voluntarily reduce their 9% profit margin or face regulatory action. She argues that rate payers cannot afford rate hikes and that NSP, as a public utility, should prioritize community needs over profits during financial hardship. The matter is referenced as M12451.

5) The case for public control Electricity is a public necessity. Given the high rates, fossil-fuel reliance, cybersecurity lapses, and reliability shortfalls, I believe the Province should bring Nova Scotia's electric utility under public...

AI summary The text argues that Nova Scotia's electric utility should be under public ownership due to high rates, fossil-fuel reliance, cybersecurity issues, and reliability problems. The author emphasizes public interest over shareholder returns. The email chain includes multiple participants but lacks direct references to regulatory matters.

Dear board: I am 100% against NSP getting any increase in what they charge customers. I have been complaining about excessive bills all year, falling on deaf ears. Usage bills higher than last years, when the house has been unoccupied all...

AI summary Hilton Langille opposes NSP's proposed rate increases, citing excessive customer bills despite low usage. He argues NSP should absorb storm damage costs, suggests removing a board member, and proposes merging with Emera. The email references a forwarded message with an attachment and multiple recipients including the NSUARB and Premier.

Nova Scotia Energy Board IN THE MATTER OF The Public Utilities Act, R.S.N.S. 1989, c.380, as amended - and - IN THE MATTER OF an Application by Nova Scotia Power Incorporated for Approval of Certain Revisions to its Rates, Charges, and Reg...

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

Working with Government on Solutions for Nova Scotia - NS Power has been working collaboratively with the Provincial and Federal Governments to find - ways to reduce costs and alleviate rate pressure on customers. These efforts to create s...

AI summary NS Power collaborates with provincial and federal governments to reduce costs and rate pressure for customers. Key initiatives include a $117 million receivable from Invest Nova Scotia, a $500 million federal loan guarantee, sulphur emission regulation adjustments saving $160 million, and a securitization approach under the Public Utilities Act potentially saving $90 million.

Depreciation Study - NS Power owns significant assets, referred to as Plant, which were placed into service at different - times. The Company is permitted to recover its prudently incurred costs, which include - depreciation costs over the...

AI summary NS Power's depreciation study outlines its use of straight-line depreciation to recover asset costs over estimated useful lives. The last update was in 2011 via a settlement agreement. The Board directed a new study in the 2023/2024 GRA, with Gannett Fleming's report included as Appendix 8A. Categories of Plant include generation, transmission, and distribution assets.

10.3.3 Credit Ratings - Credit ratings are independent opinions that indicate the relative riskiness of a company's debt - securities, and affect a company's cost of capital, as well as its access to capital. All other factors - being equa...

AI summary Credit ratings are vital for utilities to secure capital, especially for NS Power, which must fund significant investments. NS Power's BBB- rating (S&P) and BBB (high) (DBRS) places it below the North American utility median (BBB+). Its rating is only investment-grade due to its parent company, Emera. Maintaining strong ratings is critical for NS Power's energy transition and capital access.

12 COST OF SERVICE - NS Power is applying for both fuel rate increases and non-fuel rate increases. The proposed Cost- - of-Service Study (COSS) methodology is as set out in Appendix 12A , for which the Company - seeks approval. The propos...

AI summary NS Power seeks approval for a Cost-of-Service Study (COSS) methodology to justify both fuel and non-fuel rate increases. Consensus exists with Customer Representatives on using Appendix 12A and SR-01 Attachments for the 2026-2027 GRA. Future proceedings will address the Minimum System methodology, PHP's responsibility for High Voltage transmission costs, and apportionment of Maritime Link assessment costs.

FAM Tariff and POA Updates to Account for Load Migrations - As part of its Decision and Order in the 2024 FAM AA/BA proceeding, the NSEB directed NS - Power to amend the FAM Tariff to account for customers moving out of the FAM class and b...

AI summary The NSEB directed NS Power to update the FAM Tariff to handle load migrations between FAM and non-FAM classes, including MEU and RTR Market customers. Current processes address MEU migrations but require further consideration for small RTR Market customers. Amendments to Special Condition 3 and the POA are proposed, with potential future updates for RTR-related migrations.

Rate-setting Process Overview - Once the revenue requirement has been established, it is apportioned among rate classes based on - their usage through COSS. The COSS results provided foundation for determination of class - revenue responsi...

AI summary The rate-setting process establishes revenue requirements, apportions them among rate classes via COSS, and adjusts classes outside the 95-105 revenue-to-cost ratio band. Adjustments inform customer rate revisions, ensuring equitable revenue distribution based on usage and cost allocations.

Regulations 1.1, 5.1, 7.1 and 7.3 - NS Power's updated request for an AMI opt-out fee is presented above in section 13.7. Such a - change will require an update to Regulation 1.1 as provided in PR-03 Attachments 1a and 2a, - Regulation 5.1...

AI summary NS Power seeks updates to Regulations 1.1, 5.1, 7.1, and 7.3 to incorporate AMI opt-out fees, including revised definitions, meter reading policies, and updated charge schedules. Changes are detailed in PR-03 Attachments 1a–2d.

- (6) Discounts: Three principal requirements apply to discounts for transmission service as follows: - (i) any offer of a discount made by the Transmission Provider must be announced to all Eligible Customers solely by posting on the OASI...

AI summary The text outlines the requirements for discounts on transmission service, emphasizing that all offers, requests, and negotiated details must be posted on the OASIS. Discounts must be uniformly applied to all eligible customers on unconstrained transmission paths.

UNMETERED SERVICE RATES Page 20 of 20 Rate Code 41 A flat rate shall be calculated for any service requiring the supply of power and energy only, with a predeterminable usage, and where metering is considered to be impractical, such as: Te...

AI summary The document outlines the calculation of flat rates for unmetered services in Nova Scotia, specifically Rate Code 41. These rates apply to services with predeterminable usage where metering is impractical, such as telephone booths, traffic control lights, and railway signals. The approach ensures billing based on estimated consumption rather than actual metered data.

SCHEDULE 9: REAL POWER LOSS FACTORS For Point-to-Point service, the Transmission Provider will seasonally calculate loss factors to be used on a path-by-path basis. For each season, winter and summer, the power flow models used to calculat...

AI summary The document outlines procedures for calculating real power loss factors for Point-to-Point and Network Service, including seasonal and annual averages, customer requirements for capacity, and locational factors for generators. Loss factors are posted on the OASIS site by NSPI.

Method - Step 1 Allocate the system benefits to all applicable customer classes, as 25% of the total Approved DSM program costs, in accordance with the COSS methodology per the most recent rate case decision. - Step 21 Allocate the class a...

AI summary The document outlines a six-step method for allocating and recovering Demand Side Management (DSM) program costs. Key steps include distributing system benefits, calculating class-specific recovery amounts, and adjusting for actual experiences. Recovery methods differ for bundled service customers versus Wholesale/Renewable to Retail market participants, with annual true-ups based on Balance Adjustment (BA) guidelines.

9 Attachment Regulation PR-03 Attachment 1a (Redline) / 2a (Clean) Regulation 1.1 – Interpretation and Definitions PR-03 Attachment 1b (Redline) / 2b (Clean) Regulation 5.1 – Meter Reading PR-03 Attachment 1c (Redline) / 2c (Clean) Regulat...

AI summary This section lists attachments and their corresponding regulations for a proceeding, including redline and clean versions of documents related to interpretation, meter reading, and schedule of charges.

5. Cost of Service Study and Line Loss Study Stakeholder Engagement The Board's directive is found at para. 367 of the 2023-2024 GRA Decision: The Board concurs that the COSS and Line Loss Study should be updated to reflect a number of dev...

AI summary The Nova Scotia Energy Board (NSEB) mandates updates to NS Power's Cost of Service Study (COSS) and Line Loss Study to reflect system changes since 2013, including renewable integration, gas generation, and grid storage. The Board requires semi-annual progress reports starting January 31, 2024, and a review of cost allocation methodologies.

15. WACC and AFUDC Methodology The Board rendered its decision on NS Power's 2025 Weighted Average Cost of Capital (WACC) and Accumulated Funds Used During Construction (AFUDC) on March 21, 2025. In the decision, the Board made the followi...

AI summary The Nova Scotia Energy Board directed NS Power to review its 2025 WACC and AFUDC methodology for a broader analysis in the 2026 application, citing a decade since the last review. The Board emphasized evaluating alternative forecasting approaches, debt balance calculations, and administrative efficiency, with findings to be included in the 2026 GRA or WACC/AFUDC application.

2026-2027 GRA Direct Evidence Appendix 3C Page 24 of 38 REDACTED (CONFIDENTIAL INFORMATION REMOVED) combustion. It is recommended that substation control buildings continue to have fire suppression systems added and building designs to be...

AI summary The text recommends installing fire suppression systems in substation control buildings and evaluating building designs to determine if additional fire prevention measures are necessary. These recommendations aim to enhance safety and compliance in infrastructure management.

6. Decision Point: - All Criteria Met: Deploy proactive safety power shutoff. - Any Criteria Not Met: No shutoff required.

AI summary The decision point outlines two scenarios: deploying a proactive safety power shutoff if all criteria are met, or no shutoff required if any criteria are not met. This reflects a conditional regulatory decision based on predefined safety and operational criteria.

Vegetation inventory system In 2025 NS Power is advancing a project to further enhance our existing vegetation inventory system, and this initiative will integrate and leverage new and existing vegetation management data for enhanced risk-...

AI summary In 2025, NS Power is enhancing its vegetation inventory system by integrating satellite imagery data, reliability assessments, and asset criticality into Business Intelligence tools like Tableau. This initiative aims to improve risk-based decision-making for transmission and distribution systems through enhanced vegetation management interventions and time-series data analysis.

24 1.2.6 Heavy Fuel Oil - 26 Depending on the relative market prices of each fuel, Tufts Cove may generate using HFO rather - 27 than natural gas in the dual-fired steam boilers (Units 2 & 3). 5 Swap contracts are financial instruments use...

AI summary Tufts Cove may use Heavy Fuel Oil (HFO) instead of natural gas based on market prices. Financial instruments like swap contracts and forward price curves are used to manage fuel costs. The Approvals of Natural Gas Transportation Contracts Regulations (N.S. Reg. 80/2019) under the Public Utilities Act allows approval of long-term transportation contracts.

1.1 FAM Plan of Administration The POA outlines the application and administration of the FAM. It includes descriptions of the base cost of fuel, adjustment components, calculation methodologies, audit provisions, and stakeholder review an...

AI summary The Fuel Adjustment Mechanism (FAM) Plan of Administration (POA) outlines procedures for resetting the Base Cost of Fuel (BCF) and adjusting rates. NS Power seeks approval for an updated POA as part of the 2026-2027 General Rate Application (GRA), including a new BCF. The current POA, approved by the Nova Scotia Energy Board (NSEB) in January 2024, allows BCF resets via GRA, legislation, or NSEB orders.

1.2.3 Balance Adjustment (BA) The BA represents the difference in the prior year between the actual fuel costs and the fuel-related revenue recovered from customers. As noted above, although the FAM AA calculation uses 12 months of actual...

AI summary The Balance Adjustment (BA) reconciles differences between actual fuel costs and recovered revenue, incorporating deferred Fuel Adjustment Mechanism (FAM) amounts and non-fuel revenue overrecoveries. BA rates are calculated using cumulative variances divided by forecast sales, with residual balances carried forward. The reporting process was updated in 2018 to use annual actual data, and the Plan of Administration (POA) is revised to include a Community Solar Energy Credit Rider.

1.4.6 Housekeeping Updates The revised POA submitted includes a number of changes related to housekeeping items, including: - References to Nova Scotia Utility and Review Board (NSUARB) are changed to Nova Scotia Energy Board (NSEB); - Upd...

AI summary The revised POA includes updates to references from NSUARB to NSEB, revised dates for the 2026/2027 GRA process, and adjustments in section 3.1 for transitioning to a FAM class.

1.0 GENERAL DESCRIPTION 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...

AI summary The document outlines Nova Scotia Power Inc.'s Fuel Adjustment Mechanism (FAM), approved by the Nova Scotia Energy Board (NSEB), which recovers fuel costs from customers. The Base Cost of Fuel is reset every two years via General Rate Applications (GRA) or Board orders, with stakeholder input and audits ensuring transparency. The FAM adjusts rates based on actual vs. base fuel costs.

5.0 AUDIT AND OVERSIGHT The amounts charged through the FAM shall be subject to periodic audit to assure completeness and accuracy and to assure fuel and purchased power costs were incurred reasonably and prudently. The results of any audi...

AI summary The Fuel Adjustment Mechanism (FAM) is subject to periodic audits to ensure accuracy and prudent cost recovery. Audit results may influence future hearings for adjusting Base Cost of Fuel, Fuel Adjustment Factor, or General Rate Cases, with potential adjustments by the Board.

Audit Process The Board shall provide for the conduct of a Fuel Adjustment Mechanism (FAM) audit during the 2026-2027 GRA Period as it deems appropriate. The Board shall have a qualified independent firm conduct the audit. The audit will a...

AI summary The Board will conduct a Fuel Adjustment Mechanism (FAM) audit during the 2026-2027 General Rate Application (GRA) period, engaging an independent firm to review NS Power's fuel procurement and recovery. The audit covers financial and management aspects, including the FAM formula, actual fuel costs, contracts, and performance from January to December of each audit year, typically spanning two years.

Timing of the Audit Audits are expected to commence in February of every second year or at such time as directed by the Board. Final reports will normally be filed by July 2 of every second year or on such other date as directed by the Boa...

AI summary Audits are scheduled to begin in February of every second year, with final reports due by July 2 of every second year. Draft reports, containing task findings and recommendations, must be submitted to NS Power and the Board within 30 days of final report filing.

1.0 GENERAL DESCRIPTION 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...

AI summary The document outlines NS Power's Fuel Adjustment Mechanism (FAM) plan, approved by the Nova Scotia Energy Board (NSEB). It details how the Base Cost of Fuel is calculated, reset via General Rate Applications (GRA), and adjusted for under-recovery balances. Stakeholders may challenge methodology and forecasts, with the Board conducting audits. Rates are adjusted based on the Cost of Service Study (COSS).

2026-2027 GRA Direct Evidence Appendix 6B (Redline) Page 13 of 35 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Allowable fuel expenses will include normal, recurring, non-capital expenses that have been prudently incurred. Discrepancies bet...

AI summary The document outlines allowable fuel expenses, including normal, recurring, non-capital expenses and discrepancies supported by surveys. Exceptional costs are reviewed by the Small Working Group. NS Power acknowledges audit and approval by the Nova Scotia Energy Board (NSEB).

5.0 AUDIT AND OVERSIGHT The amounts charged through the FAM shall be subject to periodic audit to assure completeness and accuracy and to assure fuel and purchased power costs were incurred reasonably and prudently. The results of any audi...

AI summary The Fuel Adjustment Mechanism (FAM) charges are subject to periodic audits to ensure accuracy and prudence in fuel and purchased power costs. Audit results influence future Board hearings for adjusting Base Cost of Fuel or Fuel Adjustment Factor, or initiating a General Rate Case. The Board may adjust existing balances or recovered amounts, including interest, based on audit findings.

Audit Process The Board shall provide for the conduct of a Fuel Adjustment Mechanism (FAM) audit during the 2023-20242026-2027 GRA Period as it deems appropriate. The Board shall have a qualified independent firm conduct the audit. The aud...

AI summary The Board mandates an audit of Nova Scotia Power's Fuel Adjustment Mechanism (FAM) during the 2023-2024 and 2026-2027 General Rate Application (GRA) periods. A qualified independent firm will assess financial and management aspects of fuel procurement and recovery under the FAM, covering two-year audit cycles from January 1 to December 31 of each year.

2026-2027 GRA Direct Evidence Appendix 6B (Redline) Page 27 of 35 REDACTED (CONFIDENTIAL INFORMATION REMOVED) The Scope of the Audit will include a review of fuel and energy procurement, fuel management, and generation production to determ...

AI summary The audit scope covers NS Power's fuel procurement, management, and generation practices, compliance with the Fuel Manual, and FAM adjustments. Audits commence biennially, with confidentiality protocols for final reports. Significant FAM-driven rate increases over 10% may require Board intervention to assist customers.

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.

A – OM&G Costs by Group Figure 7A-12- Customer Experience & Innovation 2024 Actuals vs. 2025 Budget ($ Million) The increased 2025 OM&G expense is mainly the result of: - Increased Customer Service expenses of $2.5 million driven by a recl...

AI summary The 2025 OM&G expense increase is attributed to higher Customer Service expenses, Grid Modernization and Customer Integration costs, and Customer Solutions expenses. Key factors include reclassification of telephony costs, hiring additional employees, increased postage costs, and the need for data analytics resources to support regulatory proceedings and improved service delivery.

NOVA SCOTIA POWER INC. REGULATED OPERATING COSTS Appendix 7B - 2024 GRA Compliance Forecast - OM&G Restatement (in Thousands of $) Regional Operations AS FILED 2024 New Organization Enterprise Asset Management and Project Implementation AS...

AI summary The document outlines Nova Scotia Power Inc.'s regulated operating costs for 2024, including details on various operational and administrative expenses such as meter reading, line inspection, and storm restoration, as well as organizational restructuring and cost allocations.

(in Thousands of $) 2024 Compliance 2026 Forecast vs 2024 2026 Forecast vs 2024 2026 Forecast vs 2025 2027 Forecast vs 2026 > Other Goods and Services decrease due to costs in 2024 that are not expected to reoccur. (58) > Labour increase p...

AI summary The text presents financial data related to labor and consulting costs for 2024 and forecasts for 2026 and 2027. Key factors include increased staffing and regulatory engagements, leading to higher labor and consulting expenses. Variations in costs are also noted, with some decreases expected due to non-recurring 2024 costs.

Transmission & Distribution Contractor Management 2024 Compliance 2026 Forecast vs 2024 2026 Forecast vs 2024 2026 Forecast vs 2025 2027 Forecast vs 2026

AI summary The document presents a table related to transmission and distribution contractor management, with columns indicating compliance and forecast data for various years. The table outlines comparisons between years, but specific details and analysis are not provided in the text.

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.

2026-2027 GRA Direct Evidence Appendix 8B Page 30 of 33 Date Updated: Monday, December 2, 2024 NSPI Dam Register Structure Data (ft) Penstock Data Spillway Data (ft) ANALYSIS

AI summary This document provides direct evidence related to the 2026-2027 GRA, including the NSPI Dam Register with structural, penstock, and spillway data, and an analysis section. The information is part of a regulatory proceeding and was last updated on December 2, 2024.

Page 1 of 9 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8D Page 86 of 189 \\ca0213-ppfss01\work_group\1214\active\121418266\05_report_deliverable\draft_doc\Revised_Draft\Site4_2024 Estimate-Trenton Ge...

AI summary The text contains redacted pages from a regulatory proceeding document related to the 2026-2027 GRA Direct Evidence Appendix 8D. It includes file paths and page numbers from a spreadsheet titled 'Site4_2024 Estimate-Trenton Generating site - R1.xlsx'.

Page 7 of 9 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2026-2027 GRA Direct Evidence Appendix 8D Page 92 of 189 \\ca0213-ppfss01\work_group\1214\active\121418266\05_report_deliverable\draft_doc\Revised_Draft\Site4_2024 Estimate-Trenton Ge...

AI summary The text contains redacted information from a document related to a cost study for the Tuft's Cove Thermal Generating Station, likely part of a regulatory proceeding. It includes file paths and page numbers, indicating the context of a larger submission.

2026-2027 GRA Direct Evidence Appendix 09A Page 1 of 7 CI 43324 Replace L6513 / Upgrade Line Terminals NON CONFIDENTIAL January 27, 2022

AI summary This document is a non-confidential appendix from a 2026-2027 regulatory proceeding, referencing case number CI 43324 and a project to replace L6513/upgrade line terminals. It includes metadata such as the date (January 27, 2022) and page numbering.

A. James M. Coyne 4 My name is James M. Coyne, and I am employed by Concentric Energy Advisors, Inc. 5 ("Concentric") as a Senior Vice President. My business address is 293 Boston Post Road West, 6 Suite 500, Marlborough, MA 01752. 7 I am...

AI summary James M. Coyne is a Senior Vice President at Concentric Energy Advisors, Inc., providing expert testimony and advisory services on energy industry economics, finance, and public policy. He has testified before the Nova Scotia Utility and Review Board and has authored papers on utility innovation and regulation.

B. John P. Trogonoski - 5 My name is John P. Trogonoski, and I am employed by Concentric as an Assistant Vice President. 6 My business address is 293 Boston Post Road West, Suite 500, Marlborough, MA 01752. - 7 I provide expert testimony b...

AI summary John P. Trogonoski is an Assistant Vice President at Concentric, providing expert testimony on finance, economics, and public policy in the utility industry. He has testified over 30 times in U.S. and Canadian regulatory proceedings, including for the Colorado Public Utilities Commission, and has expertise in rate of return, revenue requirement, and rate design.

The return should be reasonably sufficient to assure confidence in the financial soundness of the utility and should be adequate, under efficient and economical management, to maintain and support its credit and enable it to raise the mone...

AI summary The Fair Return Standard ensures utilities can maintain financial soundness and attract capital by providing a reasonable return on investment. It requires returns to be comparable to other enterprises with similar risks and sufficient to cover operating expenses and capital costs. This standard has been interpreted by regulatory bodies such as the Canadian Energy Regulator.

17 B. The Stand-Alone Principle The Stand-Alone Principle provides that the utility must be regulated as if it were a stand-alone entity, raising capital on the merits of its own business and financial characteristics. In this way, capital...

AI summary The Stand-Alone Principle requires utilities to be regulated as independent entities, ensuring capital is allocated based on their unique risk profiles and financial characteristics. NSPI, part of the Emera corporate structure, must compete for capital with other subsidiaries, such as Tampa Electric Company, which has a different authorized return on equity and common equity ratio.

3 E. Integration of Canadian and U.S. Capital Markets 4 In a world of increasingly linked economies and capital markets, investors seek returns from a 5 global basket of investment options. Investors distinguish between risks on a country-...

AI summary The document discusses the integration of Canadian and U.S. capital markets, highlighting how investors assess country-specific risks using metrics like The Economist Intelligence Unit's country risk ratings, which rate Canada and the U.S. equally as AAA.

2 SELECTION OF PROXY COMPANIES 3 Since ROE is a market-based concept and given that NSPI is not publicly-traded, it is necessary to 4 establish a group of companies that are both publicly-traded and comparable to the Company's 5 business a...

AI summary The document discusses the selection of proxy companies for estimating NSPI's return on equity (ROE). NSPI is not publicly traded, so proxy companies with similar business and financial characteristics are used. The Canadian proxy group includes five publicly-traded, regulated utility companies, excluding Emera Inc. and TC Energy due to their relationship with NSPI and differing risk profiles.

- 5 American Electric proxy group. 6 Figure 16: North American Electric Proxy Group Company Ticker Canadian Utilities Ltd. CU Fortis Inc. FTS Hydro One Ltd. H Alliant Energy Corp. LNT American Electric Power Company AEP Duke Energy Corpora...

AI summary The document lists the members of the North American Electric Proxy Group, which includes various utility companies such as American Electric Power Company and Duke Energy Corporation. The group is referenced in Exhibit CEA-3, which provides more information on the proxy group screening process.

B. Risk Analysis Concentric examines risk from two primary perspectives: (1) financial risk; and (2) business risk. Financial risk primarily relates to the risk associated with the way in which a company has financed its business, as evide...

AI summary Concentric evaluates risk for NSPI by analyzing financial and business risk, including comparisons to other utilities and the 2021 GRA filing. Financial risk relates to debt and equity structure, while business risk includes operational and regulatory factors.

c. Generation Ownership Unlike most other regulated electric utilities in Canada, NSPI owns substantial regulated generation assets. In 2024, NSPI derived 63.9 percent of its power supply from Company-owned generation facilities, while pur...

AI summary NSPI owns a significant portion of its power supply through regulated generation assets, unlike most Canadian utilities that are pure T&D operators. This ownership structure increases business risk according to credit rating agencies like Moody's, which uses different risk thresholds for utilities based on their generation ownership.

h. Regulatory Risk 2 There have been decisions by the UARB where operating and capital costs have been disallowed. 3 Cost disallowances are always within the scope of utility regulation, but in Concentric's 4 experience, significant disall...

AI summary The text discusses regulatory risks faced by Nova Scotia Power Inc. (NSPI), including cost disallowances by the Utility and Review Board (UARB), such as the 2018 AMI decision and treatment of operating expenses. It also mentions the impact of amortizing costs from Hurricane Fiona and penalties under the Public Utilities Act.

20 3. Comparison to other Canadian Investor-Owned Electric Utilities Concentric also compared the business risk of NSPI to six other Canadian investor-owned electric utilities: ATCO Electric; FortisAlberta; FortisBC Electric; Hydro OneNetw...

AI summary Concentric compared the business risk of Nova Scotia Power Inc. (NSPI) to six other Canadian investor-owned electric utilities, considering factors like regulated generation ownership, fuel cost recovery, demand risk, regulatory environment, and capital cost recovery. Crown corporations were excluded due to lack of market data.

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.

2026-2027 GRA Direct Evidence Appendix 12A(1) Page 18 of 46 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475)

AI summary This document refers to the Cost of Service Study Process under the NSUARB M11475 matter. It is part of the 2026-2027 GRA Direct Evidence Appendix 12A(1), which includes redacted confidential information.

CONCENTRIC EVIDENCE: GRA COSS ELEMENTS 1 Minimum level of load-carrying capacity is appropriate under a minimum sized system 2 The Resource Insight evidence claims that if the minimum size used in the MSS has some load 3 carrying capacity,...

AI summary The text discusses the allocation of minimum system costs and the relevance of the NARUC Manual. It argues that minimum system costs should be treated as equally beneficial to all customers and highlights the continued relevance of the NARUC Manual in cost allocation, despite its last revision in 1992.

COSS CA DR-5 Attachment 2 Page 6 of 6 Start 1/1/2023 2/1/2023 3/1/2023 4/1/2023 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/2023 11/1/2023 12/1/2023 End 2/1/2023 3/1/2023 4/1/2023 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/202...

AI summary The text presents a table with data related to power generation units (BS-1 to BS-4, VJ-1 to VJ-2, and TUS-1) and their output over a period from January 2023 to December 2023. The data is presented in a partially confidential format, and the document is labeled as an appendix from a regulatory proceeding.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 27 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document refers to the Cost of Service Study Process under NSUARB M11475, with NSPI providing responses to data requests from the CA. The context involves regulatory proceedings related to cost analysis and service studies.

COSS CA DR-8 Attachment 1 Page 15 of 30 Advisory LIIR T and C Tue 1-Mar-22 6:32 Alert GRLF and Shore Tue 1-Mar-22 6:33 Alert LIIR Tue 1-Mar-22 6:34 Advisory Cancellation LIIR T and C Tue 1-Mar-22 11:01 Alert Cancellation LIIR Tue 1-Mar-22...

AI summary The text contains a series of alerts and advisories related to LIIR, GRLF, and Shore, including interruptions, cancellations, and restoration notices, primarily dated between March 1, 2022, and March 14, 2022.

COSS CA DR-8 Attachment 1 Page 17 of 30 Advisory Cancellation LIIR Tue 9-Aug-22 14:33 Advisory GRLF and Shore Tue 23-Aug-22 16:16 Advisory LIIR Tue 23-Aug-22 16:16 Advisory Cancellation GRLF and Shore Tue 23-Aug-22 18:11 Advisory Cancellat...

AI summary The document contains a log of advisories, alerts, and interruptions related to the Lighthouse Island Integrated Resource (LIIR) and the Grand River Lowland Flood (GRLF) and Shore areas, spanning from August 2022 to October 2022. These advisories include cancellations, alerts, and restoration notices, indicating ongoing operational and management activities in these regions.

COSS CA DR-8 Attachment 1 Page 18 of 30 Alert GRLF and Shore Wed 5-Oct-22 9:34 Alert LIIR Wed 5-Oct-22 9:35 Advisory LIIR T and C Wed 5-Oct-22 9:35 Advisory Cancellation LIIR T and C Wed 5-Oct-22 21:15 Alert Cancellation LIIR Wed 5-Oct-22...

AI summary The text lists a series of alerts and advisories related to two locations, GRLF and Shore, and LIIR, spanning from October 2022 to November 2022. These alerts include warnings, advisories, and cancellations, indicating ongoing monitoring and communication regarding events at these sites.

COSS CA DR-8 Attachment 1 Page 23 of 30 Message Time Advisory LIIR Cancellation Wed 25-Jan-23 19:27 Advisory LIIR Wed 1-Feb-23 7:04 Alert LIIR Wed 1-Feb-23 7:12 Advisory LIIR T&C Wed 1-Feb-23 7:29 LIIR Interruptions Wed 1-Feb-23 7:41 LIIR...

AI summary The text presents a log of messages related to LIIR (likely a system or process) with timestamps, including advisories, alerts, interruptions, and cancellations from January 2023 to June 2023. It also references a partially confidential appendix from a 2026-2027 GRA Direct Evidence document.

COSS CA DR-9 Attachment 1 Page 18 of 627 Start Time End Time ANL_MW 2/19/2019 14:00 2/19/2019 15:00 2/19/2019 15:00 2/19/2019 16:00 1192.2 1186.0 2/19/2019 16:00 2/19/2019 17:00 1229.8 2/19/2019 17:00 2/19/2019 18:00 1330.8 2/19/2019 18:00...

AI summary This document presents a table with timestamps and corresponding ANL_MW values, likely representing energy demand or generation data over a period in February 2019. It also includes a reference to a partially confidential appendix related to a regulatory proceeding.

COSS CA DR-9 Attachment 1 Page 20 of 627 Start Time End Time ANL_MW 2/25/2019 10:00 2/25/2019 11:00 2/25/2019 11:00 2/25/2019 12:00 1166.9 1162.9 2/25/2019 12:00 2/25/2019 13:00 1155.8 2/25/2019 13:00 2/25/2019 14:00 1140.3 2/25/2019 14:00...

AI summary This document contains a table with timestamps and corresponding ANL_MW values, likely representing energy demand data over a specific period. The data spans from February 25 to February 28, 2019, and shows fluctuations in energy demand throughout the day. The document is part of a regulatory proceeding and includes a redacted section indicating partially confidential information.

COSS CA DR-9 Attachment 1 Page 40 of 627 Start Time End Time ANL_MW 4/24/2019 19:00 4/24/2019 20:00 4/24/2019 20:00 4/24/2019 21:00 1201.6 1183.5 4/24/2019 21:00 4/24/2019 22:00 1088.7 4/24/2019 22:00 4/24/2019 23:00 1003.1 4/24/2019 23:00...

AI summary The text provides a table showing the ANL_MW (apparent net load in megawatts) over various time intervals from April 24 to April 27, 2019. These data points likely represent electricity demand or generation levels during specific time periods, which are relevant for energy planning and regulatory analysis.

COSS CA DR-9 Attachment 1 Page 41 of 627 Start Time End Time ANL_MW 4/27/2019 17:00 4/27/2019 18:00 4/27/2019 18:00 4/27/2019 19:00 936.5 931.6 4/27/2019 19:00 4/27/2019 20:00 939.3 4/27/2019 20:00 4/27/2019 21:00 964.0 4/27/2019 21:00 4/2...

AI summary The document contains a table with time intervals and corresponding ANL_MW values, likely representing energy demand or generation data over a specific period in 2019. It also references a partially confidential appendix from a 2026-2027 GRA Direct Evidence submission.

COSS CA DR-9 Attachment 1 Page 182 of 627 Start Time End Time ANL_MW 6/11/2020 23:00 6/12/2020 0:00 6/12/2020 0:00 6/12/2020 1:00 551.0 496.4 6/12/2020 1:00 6/12/2020 2:00 463.2 6/12/2020 2:00 6/12/2020 3:00 453.0 6/12/2020 3:00 6/12/2020...

AI summary The text presents a table of ANL_MW values over specific time intervals from June 11 to June 14, 2020, likely representing energy demand or generation data. It also references a partially confidential appendix related to the 2026-2027 GRA Direct Evidence.

COSS CA DR-9 Attachment 1 Page 194 of 627 Start Time End Time ANL_MW 7/16/2020 23:00 7/17/2020 0:00 7/17/2020 0:00 7/17/2020 1:00 825.9 762.2 7/17/2020 1:00 7/17/2020 2:00 727.3 7/17/2020 2:00 7/17/2020 3:00 704.3 7/17/2020 3:00 7/17/2020...

AI summary The text presents a table showing the start and end times of various intervals along with corresponding ANL_MW values, likely representing energy demand or generation data over a period from July 16, 2020, to July 19, 2020. The data appears to be part of a larger regulatory proceeding document, with a partially confidential appendix included.

COSS CA DR-9 Attachment 1 Page 195 of 627 Start Time End Time ANL_MW 7/19/2020 21:00 7/19/2020 22:00 873.2 7/19/2020 22:00 7/19/2020 23:00 7/19/2020 23:00 7/20/2020 0:00 796.2 702.7 7/20/2020 0:00 7/20/2020 1:00 693.4 7/20/2020 1:00 7/20/2...

AI summary The text presents a table showing the ANL_MW (apparent net load in megawatts) over a period from July 19 to July 22, 2020, with timestamps and corresponding values. It also references a partially confidential appendix from a regulatory proceeding related to the 2026-2027 GRA (likely a regulatory matter).

COSS CA DR-9 Attachment 1 Page 204 of 627 Start Time End Time ANL_MW 8/15/2020 3:00 8/15/2020 4:00 8/15/2020 4:00 8/15/2020 5:00 770.5 774.9 8/15/2020 5:00 8/15/2020 6:00 769.8 8/15/2020 6:00 8/15/2020 7:00 785.6 8/15/2020 7:00 8/15/2020 8...

AI summary This document contains a table with timestamps and corresponding ANL_MW values, likely representing energy usage or generation data over a period in August 2020. It also includes a partially confidential appendix from a regulatory proceeding, indicating the presence of sensitive or redacted information.

COSS CA DR-9 Attachment 1 Page 221 of 627 Start Time End Time ANL_MW 10/3/2020 17:00 10/3/2020 18:00 10/3/2020 18:00 10/3/2020 19:00 1067.5 1057.4 10/3/2020 19:00 10/3/2020 20:00 1066.1 10/3/2020 20:00 10/3/2020 21:00 1020.4 10/3/2020 21:0...

AI summary The document contains a table of ANL_MW values recorded at various time intervals from October 3, 2020, to October 6, 2020, which likely represents energy demand or generation data. It also includes a partially confidential appendix from a regulatory proceeding, indicating the presence of sensitive information.

COSS CA DR-9 Attachment 1 Page 222 of 627 Start Time End Time ANL_MW 10/6/2020 15:00 10/6/2020 16:00 10/6/2020 16:00 10/6/2020 17:00 877.5 897.0 10/6/2020 17:00 10/6/2020 18:00 931.3 10/6/2020 18:00 10/6/2020 19:00 990.0 10/6/2020 19:00 10...

AI summary The document presents a table showing ANL_MW values for various time intervals from October 6 to October 9, 2020. The data reflects energy demand fluctuations over time. The second section indicates that the information is part of a confidential appendix related to the 2026-2027 GRA Direct Evidence.

COSS CA DR-9 Attachment 1 Page 256 of 627 Start Time End Time ANL_MW 1/13/2021 18:00 1/13/2021 19:00 1/13/2021 19:00 1/13/2021 20:00 1562.7 1523.5 1/13/2021 20:00 1/13/2021 21:00 1465.0 1/13/2021 21:00 1/13/2021 22:00 1388.6 1/13/2021 22:0...

AI summary This document contains a table showing the start and end times of various intervals along with corresponding ANL_MW values, likely representing energy usage or generation data. The data spans from January 13, 2021, to January 16, 2021, and appears to be part of a larger regulatory proceeding with some confidential information redacted.

COSS CA DR-9 Attachment 1 Page 303 of 627 Start Time End Time ANL_MW 5/30/2021 21:00 5/30/2021 22:00 5/30/2021 22:00 5/30/2021 23:00 959.3 835.3 5/30/2021 23:00 5/31/2021 0:00 719.5 5/31/2021 0:00 5/31/2021 1:00 665.2 5/31/2021 1:00 5/31/2...

AI summary This document contains a table showing the start and end times of various intervals along with the corresponding ANL_MW values, which likely represent energy demand or generation levels. The data spans from May 30, 2021, to June 2, 2021, and appears to be part of a regulatory proceeding, as indicated by the reference to a partially confidential appendix.

COSS CA DR-9 Attachment 1 Page 308 of 627 Start Time End Time ANL_MW 6/14/2021 11:00 6/14/2021 12:00 6/14/2021 12:00 6/14/2021 13:00 1036.9 1019.7 6/14/2021 13:00 6/14/2021 14:00 994.9 6/14/2021 14:00 6/14/2021 15:00 943.7 6/14/2021 15:00...

AI summary This document presents a table of energy demand data (ANL_MW) over a period of time in June 2021, showing fluctuations in demand throughout the day. It is part of a larger regulatory proceeding and includes a partially confidential appendix.

COSS CA DR-9 Attachment 1 Page 312 of 627 Start Time End Time ANL_MW 6/26/2021 3:00 6/26/2021 4:00 6/26/2021 4:00 6/26/2021 5:00 639.3 674.9 6/26/2021 5:00 6/26/2021 6:00 687.1 6/26/2021 6:00 6/26/2021 7:00 712.3 6/26/2021 7:00 6/26/2021 8...

AI summary This document contains a table with timestamps and corresponding ANL_MW values, likely representing energy demand or generation data. It appears to be part of a regulatory proceeding and includes a partially confidential appendix with redacted information.

COSS CA DR-9 Attachment 1 Page 326 of 627 Start Time End Time ANL_MW 8/5/2021 23:00 8/6/2021 0:00 8/6/2021 0:00 8/6/2021 1:00 749.0 665.0 8/6/2021 1:00 8/6/2021 2:00 628.3 8/6/2021 2:00 8/6/2021 3:00 588.3 8/6/2021 3:00 8/6/2021 4:00 577.5...

AI summary This document presents a table of energy data with timestamps and corresponding ANL_MW values, likely representing power generation or demand over a period of time in August 2021. The data appears to be part of a regulatory proceeding and is labeled as partially confidential.

COSS CA DR-9 Attachment 1 Page 330 of 627 Start Time End Time ANL_MW 8/17/2021 15:00 8/17/2021 16:00 8/17/2021 16:00 8/17/2021 17:00 1209.7 1231.0 8/17/2021 17:00 8/17/2021 18:00 1237.7 8/17/2021 18:00 8/17/2021 19:00 1224.6 8/17/2021 19:0...

AI summary The text contains a table listing the start and end times along with corresponding ANL_MW values for a specific period in August 2021. It also references a partially confidential appendix from a regulatory proceeding related to the 2026-2027 GRA Direct Evidence.

COSS CA DR-9 Attachment 1 Page 346 of 627 Start Time End Time ANL_MW 10/3/2021 7:00 10/3/2021 8:00 1004.4 10/3/2021 8:00 10/3/2021 9:00 1035.8 10/3/2021 9:00 10/3/2021 10:00 1079.8 10/3/2021 10:00 10/3/2021 11:00 1099.1 10/3/2021 11:00 10/...

AI summary The document presents a table of time-stamped data showing the start and end times of various intervals along with corresponding ANL_MW values, which likely represent power generation or load data. This data appears to be part of a regulatory proceeding analysis.

COSS CA DR-9 Attachment 1 Page 364 of 627 Start Time End Time ANL_MW 11/24/2021 18:00 11/24/2021 19:00 11/24/2021 19:00 11/24/2021 20:00 1293.6 1241.9 11/24/2021 20:00 11/24/2021 21:00 1149.5 11/24/2021 21:00 11/24/2021 22:00 1061.8 11/24/...

AI summary The document presents a table with timestamps and corresponding ANL_MW values, likely representing energy demand or generation data over a period from November 24 to November 27, 2021. It also references a partially confidential appendix related to the 2026-2027 GRA Direct Evidence.

COSS CA DR-9 Attachment 1 Page 370 of 627 Start Time End Time ANL_MW 12/12/2021 6:00 12/12/2021 7:00 12/12/2021 7:00 12/12/2021 8:00 708.3 724.0 12/12/2021 8:00 12/12/2021 9:00 824.3 12/12/2021 9:00 12/12/2021 10:00 927.3 12/12/2021 10:00...

AI summary This document contains a table with data on energy demand over a period of time, showing start and end times along with corresponding ANL_MW values. It also includes a partially confidential appendix from a regulatory proceeding, indicating that some information has been redacted.

COSS CA DR-9 Attachment 1 Page 413 of 627 Start Time End Time ANL_MW 4/16/2022 17:00 4/16/2022 18:00 4/16/2022 18:00 4/16/2022 19:00 765.7 757.4 4/16/2022 19:00 4/16/2022 20:00 785.5 4/16/2022 20:00 4/16/2022 21:00 789.2 4/16/2022 21:00 4/...

AI summary This document contains a table with timestamps and corresponding ANL_MW values, likely representing energy usage or generation data over a specific period. It is part of a larger regulatory proceeding and includes partially confidential information.

COSS CA DR-9 Attachment 1 Page 414 of 627 Start Time End Time ANL_MW 4/19/2022 15:00 4/19/2022 16:00 4/19/2022 16:00 4/19/2022 17:00 1094.5 1126.5 4/19/2022 17:00 4/19/2022 18:00 1175.2 4/19/2022 18:00 4/19/2022 19:00 1156.4 4/19/2022 19:0...

AI summary The document contains a table with timestamps and corresponding ANL_MW values, likely representing energy demand or generation data over a specific period. It also references a partially confidential appendix related to the 2026-2027 GRA Direct Evidence.

COSS CA DR-9 Attachment 1 Page 419 of 627 Start Time End Time ANL_MW 5/4/2022 5:00 5/4/2022 6:00 5/4/2022 6:00 5/4/2022 7:00 1019.2 1066.0 5/4/2022 7:00 5/4/2022 8:00 1138.4 5/4/2022 8:00 5/4/2022 9:00 1192.4 5/4/2022 9:00 5/4/2022 10:00 1...

AI summary The document contains a table of hourly energy demand data (ANL_MW) for specific dates in May 2022, indicating fluctuations in electricity usage over time. It also references a partially confidential appendix from a regulatory proceeding related to the GRA (likely a regulatory body or program).

COSS CA DR-9 Attachment 1 Page 435 of 627 Start Time End Time ANL_MW 6/19/2022 21:00 6/19/2022 22:00 6/19/2022 22:00 6/19/2022 23:00 1031.1 959.3 6/19/2022 23:00 6/20/2022 0:00 867.0 6/20/2022 0:00 6/20/2022 1:00 826.0 6/20/2022 1:00 6/20/...

AI summary The text presents a table of ANL_MW values over specific time intervals from June 19 to June 22, 2022, likely representing energy usage or generation data. It is part of a regulatory proceeding document and includes a partially confidential appendix.

COSS CA DR-9 Attachment 1 Page 436 of 627 Start Time End Time ANL_MW 6/22/2022 19:00 6/22/2022 20:00 6/22/2022 20:00 6/22/2022 21:00 1016.3 1024.6 6/22/2022 21:00 6/22/2022 22:00 978.3 6/22/2022 22:00 6/22/2022 23:00 944.4 6/22/2022 23:00...

AI summary The text presents a table with time intervals and corresponding ANL_MW values, likely representing energy usage or generation data over a specific period. The data spans from June 22, 2022, to June 25, 2022, and includes values for each hour and half-hour interval. The second section indicates a partially confidential appendix related to a 2026-2027 GRA direct evidence submission.

COSS CA DR-9 Attachment 1 Page 440 of 627 Start Time End Time ANL_MW 7/4/2022 11:00 7/4/2022 12:00 7/4/2022 12:00 7/4/2022 13:00 1030.1 1052.6 7/4/2022 13:00 7/4/2022 14:00 1035.8 7/4/2022 14:00 7/4/2022 15:00 1021.9 7/4/2022 15:00 7/4/202...

AI summary This document contains a table showing the start and end times of various intervals along with corresponding ANL_MW values, likely representing energy demand or generation data for a specific period in 2022. The data appears to be part of a regulatory proceeding and includes a partially confidential appendix.

COSS CA DR-9 Attachment 1 Page 441 of 627 Start Time End Time ANL_MW 7/7/2022 9:00 7/7/2022 10:00 7/7/2022 10:00 7/7/2022 11:00 985.4 997.9 7/7/2022 11:00 7/7/2022 12:00 989.9 7/7/2022 12:00 7/7/2022 13:00 975.4 7/7/2022 13:00 7/7/2022 14:...

AI summary The text presents a table with start and end times along with corresponding ANL_MW values, likely representing energy demand or generation data over a period in July 2022. It includes a partially confidential appendix from a regulatory proceeding.

COSS CA DR-9 Attachment 1 Page 446 of 627 Start Time End Time ANL_MW 7/21/2022 23:00 7/22/2022 0:00 7/22/2022 0:00 7/22/2022 1:00 905.9 822.3 7/22/2022 1:00 7/22/2022 2:00 755.2 7/22/2022 2:00 7/22/2022 3:00 719.5 7/22/2022 3:00 7/22/2022...

AI summary The text presents a table of time intervals and corresponding ANL_MW values, likely representing data related to energy generation or consumption over a specific period. The data spans from July 21 to July 24, 2022, with values indicating fluctuations in energy levels throughout the day. This appears to be part of a regulatory proceeding document.

COSS CA DR-9 Attachment 1 Page 453 of 627 Start Time End Time ANL_MW 8/11/2022 9:00 8/11/2022 10:00 8/11/2022 10:00 8/11/2022 11:00 1181.8 1214.3 8/11/2022 11:00 8/11/2022 12:00 1203.2 8/11/2022 12:00 8/11/2022 13:00 1209.9 8/11/2022 13:00...

AI summary The text presents a table with timestamps and corresponding ANL_MW values, likely representing data on energy usage or generation over a period of time in August 2022. The table is part of a partially confidential appendix in a regulatory proceeding document.

COSS CA DR-9 Attachment 1 Page 459 of 627 Start Time 8/28/2022 21:00 End Time 8/28/2022 22:00 ANL_MW 1039.8 8/28/2022 22:00 8/28/2022 23:00 1004.6 8/28/2022 23:00 8/29/2022 0:00 940.0 8/29/2022 0:00 8/29/2022 1:00 904.1 8/29/2022 1:00 8/29...

AI summary This document contains a table of ANL_MW values recorded at various time intervals between August 28, 2022, and August 31, 2022. The data appears to reflect energy load or generation levels over a specific period. The table is part of a larger regulatory proceeding and includes partially confidential information.

COSS CA DR-9 Attachment 1 Page 519 of 627 Start Time End Time ANL_MW 2/19/2023 20:00 2/19/2023 21:00 2/19/2023 21:00 2/19/2023 22:00 1325.4 1239.1 2/19/2023 22:00 2/19/2023 23:00 1155.9 2/19/2023 23:00 2/20/2023 0:00 1068.2 2/20/2023 0:00...

AI summary The document contains a table with timestamps and corresponding ANL_MW values, likely representing energy demand or generation data over a specific period. It also references a partially confidential appendix from a regulatory proceeding.

COSS CA DR-9 Attachment 1 Page 564 of 627 Start Time End Time ANL_MW 7/1/2023 3:00 7/1/2023 4:00 7/1/2023 4:00 7/1/2023 5:00 806.0 806.2 7/1/2023 5:00 7/1/2023 6:00 805.4 7/1/2023 6:00 7/1/2023 7:00 818.8 7/1/2023 7:00 7/1/2023 8:00 849.2...

AI summary The document presents a table of hourly energy demand (ANL_MW) over several days in July 2023, showing fluctuations in power usage. It also includes a partially confidential appendix from a regulatory proceeding related to the 2026-2027 GRA Direct Evidence.

COSS CA DR-9 Attachment 1 Page 581 of 627 Start Time End Time ANL_MW 8/19/2023 17:00 8/19/2023 18:00 1000.6 8/19/2023 18:00 8/19/2023 19:00 8/19/2023 19:00 8/19/2023 20:00 999.0 968.8 8/19/2023 20:00 8/19/2023 21:00 941.9 8/19/2023 21:00 8...

AI summary This document presents a table of ANL_MW values over specific time intervals from August 19 to August 22, 2023, likely representing energy demand or generation data. It is part of a partially confidential regulatory proceeding and includes an appendix with redacted information.

COSS CA DR-9 Attachment 1 Page 585 of 627 Start Time End Time ANL_MW 8/31/2023 9:00 8/31/2023 10:00 1042.5 8/31/2023 10:00 8/31/2023 11:00 8/31/2023 11:00 8/31/2023 12:00 1038.9 1020.5 8/31/2023 12:00 8/31/2023 13:00 984.9 8/31/2023 13:00...

AI summary The document presents a table with time intervals and corresponding ANL_MW values, likely representing energy demand or generation data for a specific period in August and September 2023. It also includes a partially confidential appendix from a regulatory proceeding.

COSS CA DR-9 Attachment 1 Page 589 of 627 Start Time End Time ANL_MW 9/12/2023 1:00 9/12/2023 2:00 9/12/2023 2:00 9/12/2023 3:00 1007.5 982.1 9/12/2023 3:00 9/12/2023 4:00 970.4 9/12/2023 4:00 9/12/2023 5:00 966.4 9/12/2023 5:00 9/12/2023...

AI summary The text contains a table of data showing the start and end times of events, along with corresponding ANL_MW values, likely representing energy demand or generation levels over a period of three days in September 2023. The data appears to be part of a regulatory proceeding document, specifically an appendix related to a 2026-2027 GRA Direct Evidence.

COSS CA DR-9 Attachment 1 Page 613 of 627 Start Time End Time ANL_MW 11/21/2023 1:00 11/21/2023 2:00 11/21/2023 2:00 11/21/2023 3:00 986.8 957.5 11/21/2023 3:00 11/21/2023 4:00 944.8 11/21/2023 4:00 11/21/2023 5:00 977.9 11/21/2023 5:00 11...

AI summary The document presents a table of ANL_MW values over a period of time, likely representing energy demand or generation data. It also includes a partially confidential appendix with redacted information, suggesting the presence of sensitive or proprietary data related to the 2026-2027 GRA Direct Evidence.

COSS CA DR-9 Attachment 1 Page 620 of 627 Start Time End Time ANL_MW 12/11/2023 11:00 12/11/2023 12:00 12/11/2023 12:00 12/11/2023 13:00 963.3 1006.8 12/11/2023 13:00 12/11/2023 14:00 1022.1 12/11/2023 14:00 12/11/2023 15:00 1048.9 12/11/2...

AI summary This document presents a table of energy demand data with start and end times and corresponding ANL_MW values, spanning from December 11, 2023, to December 14, 2023. It appears to be part of a regulatory proceeding and includes a partially confidential appendix.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 718 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) COSS CA DR-22 Attachment 1 Page 1 of 1

AI summary This document is a partially confidential appendix from the 2026-2027 GRA Direct Evidence, specifically COSS CA DR-22 Attachment 1. It is part of a larger regulatory proceeding and contains information related to the Cost of Service Study (COSS).

Date Filed: May 31, 2024 NSPI (CA) DR-39 Page 2 of 2 1 Hourly temperature for the indicated peak hour at Halifax International Airport, taken from the Government of Canada website: Historical Data - Climate - Environment and Climate Change...

AI summary The document is a partially confidential appendix from a 2026-2027 General Rate Application (GRA) filed by NSPI. It includes a reference to hourly temperature data from Halifax International Airport and is part of a larger proceeding involving rate-setting and cost-of-service analysis.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 806 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED) 2022-2024 GRA SR-01 Attachment 1c Page 1 of 4 COSS CA DR-53 Attachment 1 Page 16 of 62

AI summary This document is a partially confidential appendix from a 2026-2027 Generation and Resource Assessment (GRA) proceeding, referencing prior GRA and Cost of Service Study (COSS) documents. It includes attachments and page numbers, indicating it is part of a larger regulatory process involving Nova Scotia Power Inc. (NSPI) and the Nova Scotia Utility and Review Board (NSUARB).

Open Access Transmission Tariff Update January 2022 Updated February 2022 2022-2024 GRA SR-01 Attachment 1e Page 2 of 32 COSS CA DR-53 Attachment 1 Page 32 of 62 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 822...

AI summary The text references an Open Access Transmission Tariff Update from January 2022, with updates in February 2022. It includes references to various GRA and COSS documents, some of which are partially confidential or redacted.

2022-2024 GRA SR-01 Attachment 1e Page 23 of 32 COSS CA DR-53 Attachment 1 Page 53 of 62 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 843 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The text contains various attachments and pages from regulatory proceedings, including GRA (General Rate Application) and COSS (Cost of Service Study) documents. These materials are part of a regulatory process involving rate applications and cost studies, with some pages marked as partially confidential or redacted.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to CA Data Requests

AI summary This document outlines the Cost of Service Study Process under NSUARB M11475, with NSPI providing responses to data requests from the Commission (CA).

15 16 17 18 PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1088 of 1218 REDACTED (CONFIDENTIAL INFORMATION REMOVED)

AI summary The provided text is a partially confidential appendix from a regulatory proceeding, specifically related to the 2026-2027 General Rate Adjustment (GRA) and includes redacted information.

Cost of Service Study Process (NSUARB M11475) NSPI Responses to PHP Data Requests

AI summary This document outlines the Cost of Service Study Process under NSUARB M11475, with NSPI providing responses to data requests from the Public Health Program. It highlights the interaction between regulatory bodies and utility companies during the regulatory process.

Date Filed: October 8, 2024 NSPI (PHP) DR-21 Page 2 of 2 REDACTED (CONFIDENTIAL INFORMATION REMOVED) PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1110 of 1218 COSS PHP DR-21 Attachment 1 has been filed electron...

AI summary The document is a partially confidential appendix from a 2026-2027 GRA (General Rate Adjustment) proceeding, containing evidence related to the Cost of Service Study (COSS) and filed as Attachment 1. The content has been redacted, and no substantive details are visible in the provided text.

PARTIALLY CONFIDENTIAL 2026-2027 GRA Direct Evidence Appendix 12A(2) Page 1140 of 1218 COSS SBA DR-1 Attachment 1 Page 1 of 1

AI summary This document is a partially confidential appendix from a regulatory proceeding related to the 2026-2027 General Rate Adjustment (GRA) and includes a Cost of Service Study (COSS) SBA DR-1 Attachment 1. It is part of a larger filing and appears to be a supporting document in a rate proceeding.

5.0 AUDIT AND OVERSIGHT The amounts charged through the FAM shall be subject to periodic audit to assure completeness and accuracy and to assure fuel and purchased power costs were incurred reasonably and prudently. The results of any audi...

AI summary The Fuel Adjustment Mechanism (FAM) is subject to periodic audits to ensure accuracy and prudence in fuel and purchased power costs. Audit results will be considered in subsequent FAM hearings, potentially leading to adjustments in the Base Cost of Fuel or Fuel Adjustment Factor, or a General Rate Case, as requested by NS Power or stakeholders.

Timing of the Audit Audits are expected to commence in February of every second year or at such time as directed by the Board. Final reports will normally be filed by July 2 of every second year or on such other date as directed by the Boa...

AI summary Audits are scheduled to begin in February of every second year or as directed by the Board, with final reports due by July 2 of every second year or as otherwise directed. Draft reports are submitted to NS Power and the Board within 30 days of final report filing, containing task reports, management summaries, and recommendations for cost adjustments or functional changes.

Recap the identified issues: - Review the aspects of the COSS methodology that need to be explained in future sessions - Review the issues to focus on in future sessions - What other matters need to be addressed in future sessions? - Pleas...

AI summary The document outlines the need to review aspects of the COSS methodology and identify issues to focus on in future sessions. It also asks for other matters to be addressed and requests closing comments on the process and potential improvements for future sessions.

Changes to COS Methodology since 1995

AI summary This section discusses changes to the Cost of Service (COS) methodology since 1995, focusing on evolving regulatory approaches and practices in Nova Scotia's energy sector.

COS Cost Allocation NS POWER COS STAKEHOLDER WORKING GROUP APRIL 29, 2024

AI summary This document outlines the NS Power COS Stakeholder Working Group meeting held on April 29, 2024, focusing on the allocation of Cost of Service (COS) in the utility sector. The meeting likely involved discussions on cost allocation methodologies, stakeholder input, and related regulatory considerations.

Issue 2d - New Transmission Resources (including grid scale battery, ancillary service technologies)? SBA View-The SBA refers to the discussion oflssue la(i) above for Grid Scale Batteries. Regarding Ancillary Services, the SBA agrees with...

AI summary The SBA references a prior discussion on grid scale batteries and agrees that ancillary service costs should be fully demand-related, but emphasizes the need to examine the cost allocation factor in comparison to resource adequacy cost causation.

• OATT Service Uasge (MW Demand) Allocation Factors Point-to-Point (Long-term Firm Reservation) 330 16.8% Network (In-Province) 1,635 83.2% Total 1,965 100.0% • COSS Energy Requirment Demand GWh % Share 3CP % Share ( 1) DOMESTIC 5,040.9 50...

AI summary The document presents tables related to OATT and COSS, highlighting the allocation of service demand and energy requirements across different sectors. It raises a question about why the usage determinant for Network Service is based on historical values rather than forecasted ones.

2.7 NEWFOUNDLAND AND LABRADOR Newfoundland and Labrador Hydro (NLH) does not offer unbundled rates. The Electrical Power Control Act gives NLH the exclusive right to supply, distribute, and sell power.[18](#page-8-3) The act includes provi...

AI summary Newfoundland and Labrador Hydro (NLH) has an exclusive right to supply, distribute, and sell electricity under the Electrical Power Control Act. Retailers are restricted to procuring electricity only from NLH, and the document references legal provisions and external sources related to electricity pricing and legislation.

Province Retail Access Wholesale Access British Columbia No Open Alberta Open Open Saskatchewan Partially Open Partially Open Manitoba No No Ontario Open Open (supply rate regulated by OEB) Quebec No Open New Brunswick No No Newfoundland a...

AI summary The table compares retail and wholesale electricity access across Canadian provinces, showing that Nova Scotia has no retail or wholesale access, unlike provinces such as Alberta and Ontario, which have open access. A footnote references a 2023 report comparing electricity prices in major North American cities.

Memorandum To: NS Power From: Andrew Blair & John Todd Date: December 18, 2024 Re: Transmission Classification Jurisdiction Review

AI summary This memorandum from Andrew Blair and John Todd to NS Power addresses the Transmission Classification Jurisdiction Review. It is part of a regulatory proceeding and outlines considerations related to transmission classification and jurisdiction.

Nova Scotia Power Inc. F0-01 BMnlated Statements of Famion@ Years Ended December 31st Millions of Dollars

AI summary The text presents Nova Scotia Power Inc.'s financial statements for the years ended December 31st, with figures reported in millions of dollars. It is part of a regulatory proceeding, likely related to financial reporting and regulatory oversight.

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 (Board) in its decision letter issued on December 11, 20...

AI summary This document outlines the administration plan for NS Power's Fuel Adjustment Mechanism (FAM), approved in 2008. It explains how the Base Cost of Fuel is calculated, reset, and used to adjust customer rates based on actual fuel costs. The FAM includes provisions for audits, stakeholder input, and interest calculations on over/under-recovery amounts.

5.0 AUDIT AND OVERSIGHT The amounts charged through the FAM shall be subject to periodic audit to assure completeness and accuracy and to assure fuel and purchased power costs were incurred reasonably and prudently. The results of any audi...

AI summary The Fuel Adjustment Mechanism (FAM) amounts are subject to periodic audit to ensure accuracy and prudence in fuel and purchased power costs. Audit results will be considered in subsequent FAM hearings, potentially leading to adjustments in existing balances or recovered amounts.

Timing of the Audit Audits are expected to commence in February of every second year or at such time as directed by the Board. Final reports will normally be filed by July 2 of every second year or on such other date as directed by the Boa...

AI summary Audits are scheduled to begin in February of every second year or as directed by the Board, with final reports due by July 2 of every second year. Draft reports are submitted to NS Power and the Board within 30 days of final report filing, containing findings and recommendations.

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.

Nova Scotia Energy Reform Act: On February 19, 2025, the Province announced the appointment of the board of directors for the Nova Scotia Independent Energy System Operator ("NSIESO") and that the organization will be phased in and be full...

AI summary The Province of Nova Scotia announced the appointment of the board of directors for the Nova Scotia Independent Energy System Operator (NSIESO) on February 19, 2025, with full operationalization by 2026. This follows Bill 404 - Energy Reform (2024) Act, which established the Nova Scotia Energy Board (NSEB) and initiated the transition to NSIESO.

The Company generates internally sourced cash primarily through the generation, transmission and distribution of electricity. NSPI's customer base is diversified by both sales volumes and rates among customer classes. Circumstances that co...

AI summary NSPI generates cash through electricity generation, transmission, and distribution. Key factors affecting cash generation include macroeconomic conditions, fuel prices, regulatory decisions, environmental legislation, credit ratings, and weather patterns.

Nature of Operations Nova Scotia Power Inc. ("NSPI" or the "Company") is a vertically integrated regulated electric utility. It is the primary electricity supplier in Nova Scotia, Canada, providing electricity generation, transmission and...

AI summary Nova Scotia Power Inc. (NSPI) is a vertically integrated regulated electric utility and the primary electricity supplier in Nova Scotia, regulated by the Nova Scotia Energy Board. It is a subsidiary of Emera and has various investments and partnerships, including a 50% interest in Wasoqonatl Transmission Incorporated.

Cybersecurity Incident: On May 14, 2025, the NSEB initiated an inquiry into the Cybersecurity Incident. For further information on the "Cybersecurity Incident", refer to note 1.

AI summary On May 14, 2025, the Nova Scotia Energy Board initiated an inquiry into a Cybersecurity Incident. Further details on the incident are provided in note 1.

GBPC On June 1, 2024, the Electricity Act, 2024 took effect. The legislation purports to remove the jurisdiction of the GBPA over GBPC and to have the Utilities Regulation and Competition Authority ("URCA"), another Bahamian regulator, reg...

AI summary The Electricity Act, 2024 transferred jurisdiction over GBPC from the GBPA to URCA. URCA filed a claim in the Supreme Court of the Bahamas to prevent GBPA from approving rate adjustments. Management does not expect this to significantly impact Emera.

On August 5, 2024, Emera announced an agreement to sell NMGC. As a result of the pending sale, NMGC's assets and liabilities were classified as held for sale beginning in Q3 2024. In July 2025, the procedural schedule for the NMPRC regulat...

AI summary Emera announced the sale of NMGC in August 2024, leading to its assets and liabilities being classified as held for sale from Q3 2024. The NMPRC regulatory process procedural schedule was revised in July 2025, rescheduling the public hearing to early November 2025. The transaction is expected to close in early 2026.

Emera Incorporated Condensed Consolidated Balance Sheets (Unaudited) – Continued As at June 30 December 31 millions of dollars 2025 2024 Liabilities and Equity Current liabilities Short-term debt (note 18) $ 1,735 $ 1,400 Current portion o...

AI summary The text provides condensed consolidated balance sheets for Emera Incorporated as of June 30, 2025, and December 31, 2024, outlining liabilities, equity, and related notes. The data includes short-term and long-term debt, regulatory liabilities, and equity components.

Regulator Florida Public Service Commission ("FPSC")

AI summary The text references the Florida Public Service Commission (FPSC), an organization involved in regulatory oversight.

Regulator Nova Scotia Utility & Review Board

AI summary The Nova Scotia Utility & Review Board is identified as the regulator in the proceeding.

Regulator Nova Scotia Utility & Review Board

AI summary The Nova Scotia Utility & Review Board is identified as the regulatory body in the proceeding.

Regulator Florida Public Service Commission

AI summary The text references the Florida Public Service Commission, indicating involvement in regulatory processes. No further details are provided about the context or discussion related to this entity.

EMERA NEW BRUNSWICK - Regulated by the National Energy Board. - 145 km long natural gas pipeline. - Firm service agreement with Repsol Energy expiring in 2034.

AI summary EMERA NEW BRUNSWICK is a regulated entity under the National Energy Board, operating a 145 km natural gas pipeline and holding a firm service agreement with Repsol Energy that expires in 2034.

FORWARD-LOOKING INFORMATION This MD&A contains "forward-looking information" ("FLI") and statements which reflect the current view with respect to the Company's expectations regarding future growth, results of operations, performance, carb...

AI summary The document outlines forward-looking information (FLI) contained in the Management's Discussion and Analysis (MD&A), emphasizing that such statements reflect current expectations and are subject to risks and uncertainties. These include regulatory, economic, operational, and environmental factors that could cause actual results to differ from projections.

Regulator Nova Scotia Utility & Review Board

AI summary The Nova Scotia Utility & Review Board is the regulatory body overseeing utility matters in Nova Scotia.

Regulator Nova Scotia Utility & Review Board

AI summary The text identifies the Nova Scotia Utility & Review Board as the regulatory body overseeing utility matters in Nova Scotia.

Regulator Florida Public Service Commission

AI summary The Florida Public Service Commission is mentioned as a regulatory body.

Regulators BLPC: Fair Trade Commission ("FTC") GBPC: The Grand Bahama Port Authority

AI summary The text lists regulatory bodies, including the Fair Trade Commission (FTC) and the Grand Bahama Port Authority (GBPC), which are involved in regulatory processes.

Regulatory Arrangements In Q1 2023, the Barbados regulator requested an additional compliance filling before setting final rates. The FTC dismissed BLPC's motion for review, which the utility appealed to the High Court of Barbados requesti...

AI summary In Q1 2023, the Barbados regulator requested additional compliance filings before finalizing rates. The FTC dismissed BLPC's motion for review, which BLPC appealed to the High Court of Barbados, seeking a stay. The stay was granted until the court can determine the matter. BLPC plans to file its appeal submissions by March 5, 2024, with intervenors and the Public Counsel required to reply by March 25, 2024, and BLPC to file additional submissions by April 11, 2024, while interim rates remain in effect.

EMERA NEW BRUNSWICK - Regulated by the National Energy Board. - 145 km long natural gas pipeline. - Firm service agreement with Repsol Energy expiring in 2034.

AI summary EMERA NEW BRUNSWICK is a company regulated by the National Energy Board, operating a 145 km natural gas pipeline and holding a firm service agreement with Repsol Energy that expires in 2034.

Regulator Nova Scotia Utility & Review Board

AI summary The document identifies the Nova Scotia Utility & Review Board as the regulatory body overseeing utility matters in Nova Scotia.

EMERA NEW BRUNSWICK - Regulated by the National Energy Board. - 145 km long natural gas pipeline. - Firm service agreement with Repsol Energy expiring in 2034.

AI summary EMERA NEW BRUNSWICK is regulated by the National Energy Board and operates a 145 km natural gas pipeline with a firm service agreement with Repsol Energy that expires in 2034.

MARITIMES & NORTHEAST PIPELINE - Regulated by the National Energy Board. - 1,400 km long natural gas transmission line. - 12.9% equity investment.

AI summary The Maritimes & Northeast Pipeline is a 1,400 km natural gas transmission line with 12.9% equity investment, regulated by the National Energy Board.

Regulator Nova Scotia Utility & Review Board

AI summary The Nova Scotia Utility & Review Board is the regulatory body overseeing utility matters in Nova Scotia.

EMERA NEW BRUNSWICK - Regulated by the Canada Energy Regulator. - 145 km long natural gas pipeline. - Firm service agreement with Repsol Energy expiring in 2034.

AI summary EMERA NEW BRUNSWICK is a company regulated by the Canada Energy Regulator, operating a 145 km long natural gas pipeline and holding a firm service agreement with Repsol Energy that expires in 2034.

FORWARD-LOOKING INFORMATION This document contains "forward-looking information" ("FLI") and statements which reflect the current view with respect to the Company's expectations regarding future growth, results of operations, performance,...

AI summary The document contains forward-looking information (FLI) about the Company's future growth, operations, and the pending sale of NMGC. It emphasizes that FLI is based on management's current beliefs and assumptions and is subject to various risks and uncertainties that could cause actual results to differ significantly from expectations.

Enhanced Monitoring Including harvesting of key data

AI summary The document discusses the implementation of enhanced monitoring, including the harvesting of key data, as part of regulatory processes.

Constructive Regulatory Environments Emera's core assets are situated in constructive regulatory environments, where we work collaboratively with regulatory bodies to ensure long-term value creation for both our customers and the utility.

AI summary Emera operates in constructive regulatory environments, emphasizing collaboration with regulatory bodies to create long-term value for customers and the utility.

Regulator Nova Scotia Utility & Review Board

AI summary The Nova Scotia Utility & Review Board is identified as the regulatory body involved in the proceeding.

1 EMERA NEW BRUNSWICK - Regulated by the Canada Energy Regulator. - 145 km long natural gas pipeline. - Firm service agreement with Repsol Energy North America Canada Partnership expiring in 2034.

AI summary Emera New Brunswick operates a 145 km natural gas pipeline and is regulated by the Canada Energy Regulator. The company has a firm service agreement with Repsol Energy North America Canada Partnership that expires in 2034.

3 SEACOAST - Regulated by the FPSC - Intrastate natural gas transmission company offering services in Florida Note: All data as of December 31, 2023 APPENDIX 2:

AI summary The text discusses a regulated intrastate natural gas transmission company operating in Florida under the FPSC. The company's data is current as of December 31, 2023, and an appendix is referenced, though its content is not provided.

Regulator Florida Public Service Commission ("FPSC")

AI summary The text identifies the Florida Public Service Commission as the regulator involved in the proceeding.

2 MARITIMES & NORTHEAST PIPELINE - Regulated by the Canada Energy Regulator and the Federal Energy Regulatory Commission ("FERC"). - 1,400 km long natural gas transmission line. - 12.9% equity investment.

AI summary The 2 Maritimes & Northeast Pipeline is a 1,400 km long natural gas transmission line regulated by the Canada Energy Regulator and the Federal Energy Regulatory Commission, with a 12.9% equity investment.

Regulator Nova Scotia Utility & Review Board

AI summary The document identifies the Nova Scotia Utility & Review Board as the regulatory body overseeing utility and review matters in Nova Scotia.

Regulator Florida Public Service Commission

AI summary The text mentions the Florida Public Service Commission, indicating a regulatory body involved in oversight and regulation of public utilities.

Regulators BLPC: Fair Trade Commission ("FTC") GBPC: The Grand Bahama Port Authority

AI summary The text lists regulatory bodies associated with BLPC and GBPC, indicating their involvement in regulatory processes.

1 EMERA NEW BRUNSWICK - Regulated by the Canada Energy Regulator. - 145 km long natural gas pipeline. - Firm service agreement with Repsol Energy North America Canada Partnership expiring in 2034.

AI summary Enera New Brunswick operates a 145 km natural gas pipeline and is regulated by the Canada Energy Regulator. It has a firm service agreement with Repsol Energy North America Canada Partnership, which expires in 2034.

2 MARITIMES & NORTHEAST PIPELINE - Regulated by the Canada Energy Regulator and the Federal Energy Regulatory Commission ("FERC"). - 1,400 km long natural gas transmission line. - 12.9% equity investment.

AI summary The Maritimes & Northeast Pipeline is a 1,400 km natural gas transmission line regulated by the Canada Energy Regulator and FERC, with a 12.9% equity investment.

3 SEACOAST - Regulated by the FPSC - Intrastate natural gas transmission company offering services in Florida APPENDIX 2:

AI summary This section introduces SEACOAST, a Florida-based intrastate natural gas transmission company regulated by the FPSC. It provides basic information on the company's operations and regulatory oversight.

Why Invest in Emera Emera is at the forefront of a transformative era in energy with robust opportunities to invest on behalf of customers across the portfolio. Our proven strategy and operational excellence ensure we can capitalize on thi...

AI summary Emera is positioned as a leading energy company with a focus on regulated utilities in Florida, emphasizing a $20B 5-Year Capital Plan, rate base growth, and a constructive regulatory environment to drive reliable earnings and dividend growth.

Regulator Florida Public Service Commission ("FPSC")

AI summary The Florida Public Service Commission (FPSC) is identified as the regulator in this context.

Regulator Nova Scotia Utility & Review Board

AI summary The Nova Scotia Utility & Review Board is identified as the regulator in this proceeding.

Regulator Nova Scotia Utility & Review Board

AI summary The Nova Scotia Utility & Review Board is the regulatory body overseeing utility matters in Nova Scotia. It plays a crucial role in ensuring fair and reasonable utility services for consumers.

Emera New Brunswick - Regulated by the Canada Energy Regulator. - 145 km long natural gas pipeline. - Firm service agreement with Repsol Energy North America Canada Partnership expiring in 2034.

AI summary Emera New Brunswick operates a 145 km natural gas pipeline and has a firm service agreement with Repsol Energy North America Canada Partnership that expires in 2034. The company is regulated by the Canada Energy Regulator.

Maritimes and Northeast Pipeline - Regulated by the Canada Energy Regulator and the Federal Energy Regulatory Commission ("FERC"). - 1,400 km long natural gas transmission line. - 12.9% equity investment.

AI summary The Maritimes and Northeast Pipeline is a 1,400 km natural gas transmission line regulated by the Canada Energy Regulator and FERC, with a 12.9% equity investment.

Nova Scotia Power –DBRS Annual Meeting December 13, 2023

AI summary The document outlines the Nova Scotia Power –DBRS Annual Meeting held on December 13, 2023. It provides context for the meeting, including relevant acronyms and entities involved.

Well established cost of service regulatory environment •Allowed ROE: 8.75% - 9.25% •Maximum Allowed Equity: 40% - • Approved rider mechanisms allow for the timely recovery of prudently incurred costs: - 〉 Fuel adjustment mechanism allows...

AI summary The regulatory environment in Nova Scotia allows for a return on equity between 8.75% and 9.25% and a maximum allowed equity of 40%. Approved rider mechanisms, such as the fuel adjustment and DSM rider, enable the recovery of prudently incurred costs. The UARB is an independent regulatory body responsible for oversight.

is rotated at least every five years, with the current lead audit partner having commenced their rotation in 2021. A new lead audit partner will be selected in 2025 to commence their rotation in 2026. EY has been Emera's auditors since 199...

AI summary The document discusses the selection of Ernst & Young LLP as auditors for Emera, including the rotation of lead audit partners and the process by which EY was chosen. It also outlines the fees charged by EY over the last two fiscal years.

Director Nominee Profiles The profiles that follow provide important information on each of the 12 Director Nominees, including age, municipality and country of residence, year first elected or appointed as a Director, principal occupation...

AI summary This section provides profiles of 12 Director Nominees, including personal and professional details, committee memberships, and share holdings. It outlines the information included in the profiles, such as age, residence, professional background, and financial interests in Emera.

Type of meeting Number of meetings Overall Attendance Board 9 100% Audit Committee 5 96% Management Resources and Compensation Committee 5 100% Nominating and Corporate Governance Committee 3 100% Risk and Sustainability Committee (1) 3 93...

AI summary The document outlines the attendance rates for various board and committee meetings held in 2025, including the reorganization of committees effective February 21, 2025, where the Health, Safety and Environment Committee and the Risk and Sustainability Committee were replaced with the Safety and Risk Committee.

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.

MANAGEMENT RESOURCES AND COMPENSATION COMMITTEE Henry E. Demone (Chair) James V. Bertram Paula Y. Gold-Williams Brian J. Porter Jochen E. Tilk In addition, from time to time, the Board may also establish ad hoc committees to assist the Boa...

AI summary This section outlines the structure and responsibilities of the Management Resources and Compensation Committee (MRCC) and other Board committees. It discusses the establishment of ad hoc committees, the role of the NCGC in determining committee composition, and the rotation of committee memberships to ensure continuity and exposure.

When recommending the nomination of Directors for election, the NCGC members must consider certain principles: Board renewal principle Principle explained Age Absent certain circumstances as determined by the Board, in the normal course, a...

AI summary The NCGC must consider principles such as age, tenure, average age, average tenure, and other relevant factors when recommending the nomination of Directors for election, aiming to ensure orderly succession and balanced renewal of the Board.

2024 ASSESSMENT FINDINGS The principal themes that came out of the 2025 Board and Director Performance Assessment related to strategy, executive leadership and succession planning, and Board effectiveness. The Directors believe the Company...

AI summary The 2024 assessment of the Board and Director performance highlighted themes such as strategy, executive leadership, and board effectiveness. Directors noted that the company's strategic actions in 2024 improved financial and credit metrics and emphasized the importance of strong governance. There is a desire to streamline board processes and materials to enhance effectiveness.

OPERATING COMPANY BOARD COMPOSITION The Company recognizes the value of having a broad mix of experience, skills and backgrounds among the directors on its operating company boards. Of the 20 external directors that serve on the boards of...

AI summary The Company values diversity among its board members, noting that 45% of the 20 external directors on its largest operating companies' boards are female, and 30% belong to ethnic, racial, visible minority groups or are of Indigenous heritage.

Continuing Education for Directors The Board, with the support and oversight of the NCGC, regularly seeks opportunities to update, educate and inform the Directors in areas they request or that management determines, are relevant to issues...

AI summary The Board of Directors participates in continuing education opportunities, including presentations, site visits, and specialized sessions, to stay informed on relevant business matters. Emera has established a guideline for directors' attendance at education sessions, which includes reimbursement for expenses.

GOVERNANCE AND RISK MANAGEMENT Strong governance and risk management are foundational to everything we do at Emera, including our approach to sustainability. In 2024, the Sustainability Management Committee ("SMC") and the RSC (now under t...

AI summary Emera emphasizes strong governance and risk management as essential to its operations, particularly in sustainability. In 2024, the Sustainability Management Committee (SMC) and the newly established Safety and Risk Committee (SRC) provided oversight of sustainability efforts and risk management, including climate-related risks and disclosures.

SUSTAINABILITY MATERIALITY ASSESSMENT Emera is committed to transparency, accountability, understanding stakeholder expectations and improving disclosures on the material sustainability priorities that matter most to stakeholders. Those su...

AI summary Emera conducts a sustainability materiality assessment to identify key sustainability priorities, categorized as strategic, core, and evolving. These priorities are reviewed annually with the SMC and SRC to ensure alignment with stakeholder interests and business impact. A full update is conducted every three years.

The Board, in carrying out its responsibilities, delegates certain functions to the Committees of the Board. Each committee has responsibilities for specific aspects of risk oversight. Emera Safety and Risk Committee (SRC) Assist the Board...

AI summary The Board delegates specific risk oversight functions to its committees, including the Safety and Risk Committee, Management Resources & Compensation Committee, Audit Committee, and Nominating and Corporate Governance Committee. Each committee has defined responsibilities related to safety, compensation, financial risks, and corporate governance.

Conflicts of Interest Directors are required to declare any conflict of interest that they may have in a matter before the Board. In any matter requiring approval of the Board, a Director is prohibited by the Articles from voting in respec...

AI summary Directors must declare conflicts of interest before the Board and are prohibited from voting on matters in which they have an interest. The former Health, Safety and Environment Committee was replaced by the Safety and Risk Committee in February 2025.

ROLE OF THE AUDIT COMMITTEE The Audit Committee assists the Board in discharging its oversight responsibilities concerning the integrity of Emera's financial statements, its internal control systems, the internal audit and assurance proces...

AI summary The Audit Committee assists the Board in overseeing financial reporting, internal controls, and compliance. It reviews financial statements, manages external and internal auditors, and evaluates financial risks and controls, including investment and pension plan management.

Nominating and Corporate Governance Committee ("NCGC") Jochen E. Tilk (Committee Chair) (1) James V. Bertram Henry E. Demone B. Lynn Loewen - Committee Members are 100% independent - The Committee met in camera without management at every...

AI summary The Nominating and Corporate Governance Committee (NCGC) is composed of 100% independent members. The Committee met in camera without management present at every meeting in 2024.

ROLE OF THE NCGC The NCGC assists the Board with a variety of matters relating to corporate governance. One of its primary duties is to provide the Company with a list of nominees for election as Directors to be included in the Company's M...

AI summary The NCGC supports the Board in corporate governance matters, including director nominations, succession planning, governance practices, and compensation recommendations. It ensures compliance with governance best practices and oversees the evaluation of the Board and its members.

ACTIVITIES OF THE NCGC IN 2024 The NCGC met three (3) times in 2024. In accordance with its mandate as set out in the NCGC Charter, the NCGC performed the following key functions in 2024: - 1. Oversaw the recruitment process that led to th...

AI summary The NCGC met three times in 2024 and performed various governance functions, including overseeing the recruitment of a new Board member, reviewing compensation and governance policies, and recommending amendments to several corporate governance documents.

) environmental and sustainability related matters. The SRC oversees the Company's approach to the preservation of public and employee safety. It does this by receiving and reviewing with management: - (a) The actual performance of the Com...

AI summary The SRC oversees the company's safety and risk management approach, including reviewing safety performance, compliance with regulations, risk mitigation strategies, and significant incidents or regulatory findings related to safety.

ACTIVITIES OF THE SRC (FORMERLY HSEC AND RSC) The SRC was established by the Board effective February 21, 2025. In 2024, matters now within the mandate of the SRC, were within the mandates of either the former HSEC or the RSC. A report on...

AI summary The SRC was established by the Board in February 2025, taking over responsibilities previously managed by the HSEC and RSC. A report on the activities of the former HSEC and RSC in 2024 is provided.

Risk Management and Compensation As part of the Board and MRCC's oversight responsibilities for the design and administration of Emera's executive compensation programs, the MRCC identifies and discusses design features or processes that m...

AI summary The MRCC oversees the design and administration of Emera's executive compensation programs, ensuring that features or processes do not create conflicts of interest or encourage unnecessary risk-taking by senior executives.

STRATEGIC PLANNING The Board shall provide oversight and guidance on the strategic issues facing Emera. The Board shall oversee a strategic planning process resulting in a strategic plan, which shall be approved on an annual basis and will...

AI summary The Board is responsible for overseeing Emera's strategic planning process, ensuring the development and annual approval of a strategic plan that considers business opportunities and risks. It also reviews and approves financial objectives, capital expenditures, and major business decisions.

SUSTAINABILITY AND INTEGRITY The Board shall oversee management's approach to addressing Emera's Environmental, Social and Governance (ESG) impacts, risks and opportunities that are most important to its business performance and to key sta...

AI summary The Board is responsible for overseeing Emera's ESG impacts, ensuring a majority of independent directors, reviewing the Code of Conduct, and ensuring an integrity-based culture throughout the company.

RISK RESPONSIBILITY The Board shall oversee the implementation by management of appropriate systems to identify, report and manage the principal risks of Emera's business. The Board will consider Emera's risk profile and oversee Emera's ri...

AI summary The Board is responsible for overseeing Emera's risk management processes, including the identification, assessment, and mitigation of principal risks. It will review risk management alignment with strategy, insurance programs, business continuity plans, and compliance with legal and regulatory requirements.

CORPORATE COMMUNICATIONS AND PUBLIC DISCLOSURE The Board shall review and approve a formal corporate disclosure policy and oversee policies and processes for accurate, timely and appropriate public disclosure. The Board shall oversee syste...

AI summary The Board is tasked with reviewing and approving a formal corporate disclosure policy and overseeing systems for public disclosure. It also oversees stakeholder feedback processes and reviews feedback received by the Company.

GOVERNANCE RESPONSIBILITY The Board is responsible for overseeing the Company's corporate governance policies and practices and shall maintain a set of corporate governance practices that are specifically appropriate to the Company. Pursua...

AI summary The Board is responsible for overseeing the Company's corporate governance policies and practices, ensuring independence from management, establishing board committees with written charters, and maintaining appropriate structures to serve the interests of the Company and its shareholders. The Board also oversees the selection of directors, evaluates board performance and compensation, and reviews its charter annually.

EMBEDDED COST OF ANCILLARY SERVICES REGULATION REVENUE REQUIREMENT Unit Generator Regulating Regulating Time on Regulating Ramp Weighted Net Fixed Weighted Nameplate Capacity Ramp AGC Capacity Rate Capacity Participation Book Charge Annual...

AI summary The text presents a table and formulas related to the embedded cost of ancillary services and regulation revenue requirement, focusing on generator capacity, regulating ramp rates, time on AGC, and weighted participation factors. It includes columns for various metrics and calculations relevant to cost of service studies.

Business Risk: Excellent We assess NSPI's business risk profile as excellent, reflecting our assessment of the regulated accounting for company's operations being in low-risk country such as Canada, are rate-regulated. NSPI's business risk...

AI summary NSPI's business risk is assessed as excellent due to its regulated operations in Canada, transparent UARB regulatory framework, and stable customer base. The UARB's fuel adjustment mechanism allows cost recovery, and NSPI's regulated model ensures timely rate determinations and recovery of prudently incurred costs.

NSPI's fuel stability plan approved by the Nova Scotia Utility and Review Board (UARB) in Dec. 2019 covers only the fuel component with an average base rate increase of about 1.5% each year through 2022. The increase in base rates do not c...

AI summary NSPI's fuel stability plan, approved in 2019, only covers the fuel component with a 1.5% annual base rate increase through 2022, not the non-fuel component. NSPI plans to file new base rates for non-fuel costs in 2023, which may pressure credit metrics due to capital spending exceeding depreciation. NSPI also lacks geographic and regulatory diversity, relying heavily on the UARB for credit quality.

2026-2027 GRA Cleary IR-1 Attachment 5 Page 2 of 10 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Inc. NSPI is a lower-risk, regulated, vertically integrated utility that operates under a generally supportive framework. The...

AI summary Nova Scotia Power Inc. (NSPI) is a low-risk, regulated utility operating under supportive mechanisms like the fuel adjustment mechanism (FAM). NSPI filed an updated fuel stability plan with a 2.9% annual base rate increase through 2024, and faces challenges due to limited geographic and regulatory diversity, impacting its credit quality and dependence on the Utility and Review Board (UARB).

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.

ustomers of $18 million in 2018, $36 million in 2019 and $53 million in 2020. As at September 30, 2017, NSPI collected $12 million, which is recorded above as part of the FAM regulatory liability. - NSPI is required to withhold $10 million...

AI summary NSPI collected significant amounts from customers through the FAM regulatory liability in 2018, 2019, and 2020. The company must withhold a portion of its interim assessment payments annually, contingent on demonstrating benefits from the Maritime Link Project. The Province introduced amendments to the Environment Act for a cap-and-trade program, with NSPI anticipating recoverability of prudently incurred carbon reduction costs. DBRS assessed the regulatory environment for NSPI based on eight factors.

Regulatory Environment Assessment Criteria 1. Deemed Equity Ratio Score Excellent Good Satisfactory Below Average Poor Analysis NSPI's target regulated ROE is based on an actual five-quarter average regulated common equity component of up...

AI summary The document assesses the regulatory environment for NSPI, noting its target ROE based on a 37.5% common equity ratio, the Province's modest impact on NSPI through legislative reforms, partial disallowance of fuel-related cost recovery, and the absence of rate freezes despite higher residential electricity rates in Nova Scotia.

3. Good franchise strength NSPI is the primary electricity supplier for the Province, providing over 95% of its electricity generation, transmission and distribution. Although the Electricity Reform (2013) Act permits licensed retail suppl...

AI summary NSPI holds a strong franchise position as the primary electricity supplier in Nova Scotia, with over 95% market share. Despite the Electricity Reform (2013) Act allowing retail suppliers to sell renewable electricity, DBRS does not anticipate significant attrition that would weaken NSPI's position, as no retail suppliers were operating under renewable-to-retail tariffs as of September 30, 2018.

2. Regulatory lag NSPI faces some regulatory risk with respect to the timeliness of full cost recovery, although this risk is lower now than when the FAM was not in place. Although the FAM allows the Company to recover fluctuating fuel exp...

AI summary NSPI faces regulatory risk related to the timeliness of full cost recovery, though this risk has decreased since the implementation of the Fuel Adjustment Mechanism (FAM). The FAM allows NSPI to recover fluctuating fuel costs annually with NSUARB approval, and any differences between actual fuel costs and recovered amounts will be resolved post-2022. DBRS Morningstar anticipates reduced fuel price volatility as the Muskrat Falls hydroelectric project begins operations.

orningstar's assessment of the regulatory environment for NSPI, which is based on eight factors. For further detail, please refer to Appendix 1 of the DBRS Morningstar Rating Companies in the Regulated Electric, Natural Gas and Water Utili...

AI summary The document discusses DBRS Morningstar's assessment of the regulatory environment for Nova Scotia Power Inc., based on eight factors, with further details provided in Appendix 1 of their rating methodology.

On December 2, 2020, DBRS Limited (DBRS Morningstar) confirmed Nova Scotia Power Inc.'s (NSPI or the Company) Issuer Rating and Unsecured Debentures & Medium-Term Notes rating at A (low). DBRS Morningstar also confirmed NSPI's Commercial P...

AI summary DBRS Limited confirmed Nova Scotia Power Inc.'s credit ratings at A (low) and R-1 (low) with stable trends, citing a reasonable regulatory framework by the NSUARB and the Company's ability to recover fuel costs through a fuel adjustment mechanism. The Company's reliance on coal-based generation and transition to renewables is noted as a long-term challenge.

2. Regulatory lag NSPI faces some regulatory risk with respect to the timeliness of full cost recovery, although this risk is lower now than when the FAM was not in place. Although the FAM allows the Company to recover fluctuating fuel exp...

AI summary NSPI faces regulatory risk related to timely cost recovery, but this risk has decreased since the FAM was implemented. The FAM allows for annual rate adjustments, subject to NSUARB approval. The 2020–22 FSP outlines that any fuel cost differences will be recovered or returned after 2022. DBRS Morningstar anticipates reduced fuel price volatility with the start of energy delivery from the Muskrat Falls project.

Assessment of Regulatory Framework Criteria Score Analysis 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 varia...

AI summary The regulatory framework for energy cost recovery is assessed as excellent, with fuel costs passed through to customers via the FAM. Rates adjust annually based on forecast and actual fuel cost variances, but variances from 2020 to 2022 will be deferred to a FAM regulatory asset or liability and recovered or returned post-2022. The FSP is expected to result in an average annual fuel rate increase of 1.5% during this period. The NSUARB conducts independent audits of fuel costs.

ess under the Nova Scotia Utility and Review Board (NSUARB), and greater uncertainty on NSPI's plans and ability to meet renewable generation targets and to shut down its coal-fired generation plants. On November 8, 2022, the Province pass...

AI summary The NSUARB is under increased regulatory and political pressure due to amendments to the Public Utilities Act, which cap base rate increases and limit ROE for NSPI. DBRS Morningstar has downgraded NSPI's credit rating due to these constraints, which may hinder NSPI's ability to meet renewable generation targets and retire coal-fired plants by 2030.

cial restraints on NSPI over the near term, as well as the heightened regulatory risk on the Company's ability to receive rate increases to recover and earn a reasonable return on any new investments. Given this precedent, DBRS Morningstar...

AI summary DBRS Morningstar is concerned about potential government interventions that could destabilize NSPI's regulatory framework. It expects NSPI's earnings to be moderately weaker but supportive of the BBB (high) rating. NSPI is focusing on reliability and safety projects, and its parent company, Emera Inc., supports it financially. A positive rating action may occur with regulatory independence, progress on renewable energy, and improved credit metrics.

3. Good franchise strength NSPI is the primary electricity supplier for the Province, providing more than 95% of its electricity generation, transmission, and distribution. Although the Electricity Reform (2013) Act permits licensed retail...

AI summary NSPI holds a strong franchise position as the primary electricity supplier in Nova Scotia, with no material threat from renewable-to-retail tariffs due to the lack of active retail suppliers under these tariffs as of September 30, 2022.

Good Satisfactory Below Average Poor Criteria Score Analysis 1. Deemed Equity Excellent Good Satisfactory Below Average Poor NSPI's target-regulated ROE is based on an actual five-quarter average-regulated common equity component of up to...

AI summary The document evaluates NSPI's regulatory framework, focusing on deemed equity, allowed ROE, energy cost recovery, capital and operating cost recovery, COS versus incentive rate mechanism, political interference, and stranded cost recovery. Key points include ROE caps under Bill 212, fuel cost recovery through FAM and FSP, and regulatory impacts from political interference.

1. Low-risk regulated electricity business The Company's current regulatory framework is based on a cost-of-service (COS) methodology, under which NSPI can recover all prudently estimated operating expenses and earn a reasonable return on...

AI summary The Company's current regulatory framework is based on a cost-of-service methodology, allowing NSPI to recover operating expenses and earn a reasonable return. The FAM helps manage fuel price risks, but recent provincial intervention in the GRA process has increased regulatory risk and instability for the Company.

2. Political intervention in the ratemaking process In November 2022, the Province passed Bill 212, which amended the Public Utilities Act to cap the baserate increase for NSPI's most recent GRA at 1.8% during the 2022 to 2024 period, excl...

AI summary In November 2022, Nova Scotia passed Bill 212, amending the Public Utilities Act to cap NSPI's base rate increase at 1.8% and limit ROE and deemed equity. This political intervention is viewed as credit negative due to its impact on regulatory independence and framework stability.

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.

(a) In Figure 16, on page 35 of Appendix 10A, Concentric provides its North American Electric T&D proxy group that is comprised of three Canadian utilities and 10 U.S utilities, as copied below: Company Ticker Canadian Utilities Ltd. CU Fo...

AI summary The document references two North American Electric T&D proxy groups provided by Concentric, including Canadian and U.S. utilities, as part of regulatory proceedings. It also mentions the 2024 Ontario Energy Board (OEB) proceedings related to the '2024 Review of Cost of Capital Parameters and Deemed Capital.'

2026-2027 General Rate Application (M12451) NSPI Responses to CLEARY Information Requests 1 Request IR-11: 29 U.S. states. Analysts at Moody's Ratings and Scotiabank have expressed that same view 30 on the similarity of utility regulation...

AI summary The text references Moody's Ratings and Scotiabank analysts' views on the similarity of utility regulation in Canada and the U.S., as described in Concentric's report for NS Power, pages 74-75 of Appendix 10A.

NON-CONFIDENTIAL 1 Request IR-24: 2 3 Reference: N-6 - 2026-2027 GRA Direct Evidence Appendix 7C Page 15-16 of 58 4 5 Per N-6, (Appendix 7C), page 15-16 of 58, we understand that consulting expense has 6 increased in 2026 forecast compared...

AI summary The text discusses an increase in consulting expenses for NS Power due to a greater volume and scope of regulatory engagements. The increase is attributed to the complexity of regulatory proceedings and the need for specialized tariff and rate work. The 2026 forecast predicts a decrease in consulting expenses compared to 2024 actuals.

2026-2027 GRA Emrydia IR-2 Attachment 1 Page 38 of 348 NOVA SCOTIA POWER, INC.

AI summary This document is a page from a regulatory proceeding involving Nova Scotia Power, Inc. It is part of the 2026-2027 GRA Emrydia IR-2 Attachment 1 and appears to be related to a regulatory process in Nova Scotia.

Item 1b: Regional Integration Continue working with neighboring jurisdictions in support of the Atlantic Loop and other opportunities for regional integration, conducting detailed engineering and economic studies for firm import options re...

AI summary The document emphasizes the need to continue collaboration with neighboring jurisdictions to support the Atlantic Loop and other regional integration opportunities. It calls for detailed engineering and economic studies to evaluate firm import options that may require new transmission investments and stronger regional interconnections, considering factors such as supply security, emission intensity, and dispatch flexibility.

1 Introduction Nova Scotia Power Inc.'s (NS Power's) mission is that "We are proud to power Nova Scotia. Our customers count on us for safe, reliable and affordable electricity." NS Power is committed to supporting both the provincial and...

AI summary Nova Scotia Power Inc. (NS Power) outlines its commitment to asset management through its Strategic Asset Management Plan (SAMP), emphasizing the need for rigorous processes to support clean energy goals and regulatory compliance. The SAMP is a 5-year plan subject to review and revision as needed.

5 Regulatory Context and Stakeholder Engagement NS Power is regulated under the Public Utilities Act and the Electricity Act by the Nova Scotia Utility and Review Board (UARB), and through these Acts NS Power is mandated to serve the elect...

AI summary NS Power is regulated by the Nova Scotia Utility and Review Board under the Public Utilities Act and Electricity Act. The UARB oversees processes such as General Rate Applications, Annual Capital Expenditure Plan approvals, and Integrated Resource Plans. NS Power's EAM division and senior leadership are involved in these processes, ensuring alignment with regulatory requirements and organizational objectives.

6.1 External Stakeholders External stakeholders expect value to be delivered in the form of high-quality service and performance, while managing costs and risks. As noted in Section 5, external stakeholders engage regularly with NS Power a...

AI summary External stakeholders expect high-quality service and performance from NS Power, with regular engagement through regulatory processes and working groups. NS Power collaborates with IPPs, telecommunications providers, municipalities, and industrial facilities, and has minority ownership in some wind farms. Senior leadership and legal teams engage with government and regulatory bodies to align on laws and regulations.

Mapping of ISO 55000 to NSP Asset Management System Elements IAM 6-Box Conceptual AM Model NSPI Reference Associated Processes / Systems 7.7 Knowledge Asset Information, Risk & Review Playbook, SOPs CMS, Reliability Team Process, QPs Secti...

AI summary The document outlines the alignment between ISO 55000 standards and the NSP Asset Management System, detailing key components such as the IAM 6-Box Conceptual AM Model, SAMP, and associated processes like the Reliability Team Process, AMPs, and ACE. It also references performance standards and regulatory frameworks like NERC and the BSC.

Fuel Adjustment Mechanism (FAM) The Fuel Adjustment Mechanism (FAM) is the mechanism by which the actual cost of fuel used to generate electricity is passed through to NS Power's customers. It allows price changes to be corrected and smoot...

AI summary The Fuel Adjustment Mechanism (FAM) allows NS Power to pass through actual fuel costs to customers, enabling rate adjustments without a full GRA. It involves a bi-annual third-party audit by the NSUARB and follows a full regulatory process with stakeholder engagement and public hearings.

North American Reliability Council (NERC) The vision for the North American Reliability Council (NERC) is a highly reliable and secure North American bulk power system. In Nova Scotia, NERC standards and associated requirements are reviewe...

AI summary The North American Reliability Council (NERC) aims to ensure a reliable and secure bulk power system in North America. In Nova Scotia, NERC standards are reviewed and approved for enforcement by the Nova Scotia Utility and Review Board (NSUARB). NERC standards cover multiple areas, and reporting is done to the Northeast Power Coordinating Council (NPCC), which also issues regional standards and conducts audits of NS Power every three years.

Interpretation In this decision, unless otherwise defined herein, terms defined in National Instrument 14-101 Definitions or MI 11-102 have the same meaning.

AI summary The document outlines the interpretation of terms used in the decision, referencing definitions from National Instrument 14-101 Definitions and MI 11-102, unless otherwise defined in the text.

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.

Management's Discussion & Analysis As at February 21, 2025 Management's Discussion & Analysis ("MD&A") provides a review of the results of operations of Nova Scotia Power Inc. during the fourth quarter of 2024 relative to the same quarter...

AI summary This section of the document outlines the Management's Discussion & Analysis for Nova Scotia Power Inc. for the fourth quarter of 2024 and the full year of 2024. It provides an overview of financial results and operations, referencing USGAAP and the regulatory oversight by the Nova Scotia Utility and Review Board.

Regulatory and Political Risk NSPI is subject to complex legislative and regulatory frameworks that cover material aspects of their businesses. These frameworks influence key factors such as rates and cost structures, revenue requirements,...

AI summary NSPI operates under a complex regulatory framework that impacts rates, cost recovery, and capital investments. Regulatory approvals are required for significant business changes, and delays or disallowances could lead to Material Adverse Effects. Changes in government or policy could also impact regulatory stability and outcomes.

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.

Transition Risk: As government policy and the economy transition toward decarbonization, the Company is exposed to risks arising from policy, legal, technology, and market changes, which could result in a Material Adverse Effect. The energ...

AI summary Nova Scotia Power Inc. faces transition risks due to decarbonization policies and climate change, which could lead to increased capital investment needs, regulatory challenges, and difficulties in insuring carbon-emitting assets. These risks may impact service reliability, reputation, and access to capital, potentially resulting in a Material Adverse Effect.

- 29 Scotia (NSIESO) and a stand-alone energy regulator, called the Nova Scotia Energy Board. The 1 creation of these two new entities changes the electricity planning landscape in Nova Scotia 2 including several changes to the Project Acc...

AI summary The creation of the Nova Scotia Independent Electricity System Operator (NSIESO) and the Nova Scotia Energy Board is changing the electricity planning landscape in Nova Scotia. The NSIESO will be responsible for procuring future Battery Storage, Fast-Acting Generation, and renewable energy projects, with updates to the 2030 Clean Power Plan and 10 Year System Outlook (10YSO) report submitted to the NSUARB.

1 2 3 Note 2- Please refer to NSEB IR-062.

AI summary The document references NSEB IR-062, indicating a connection to a specific regulatory proceeding or document related to the Nova Scotia Energy Board.

Note 3- Increase is due to system growth and increase in customer-requested work. The 2024 1 2 3 Compliance forecast expected lower staffing levels due to the closure of two generating units at the time of the 2023-2024 GRA. 4 5 Note 4- Pl...

AI summary The increase in staffing levels is attributed to system growth, customer-requested work, and increased regulatory requirements. Notes also mention the closure of generating units, retention of thermal units for system capacity, aging wind assets, and reorganization of NS Power's departmental structure.

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.

REDACTED 1 Request IR-51: 12 included in the 2024 GRA budget. NS Power received 1,378 GWh of NS Block energy in 2024 as 13 compared to 1,134 GWh that was included in the 2024 GRA budget, due to NS Block make up 14 energy from lower 2022-20...

AI summary The text discusses NS Power's energy procurement and operational adjustments in 2024, including increased energy usage from NS Block due to lower imports and reduced renewable generation. It also addresses the extended operation of Trenton Unit 5 and Lingan Unit 2 until 2028 and 2029. Additionally, it explains increased regulatory inspections at Tufts Cove due to asset age and compliance requirements.

Methodology - The report was prepared by ScottMadden, Inc. with the support of NSPI personnel - ScottMadden, Inc. (ScottMadden) is a management consulting firm with recognized leadership in utility business planning and benchmarking - Scot...

AI summary The methodology section outlines the preparation of a report by ScottMadden, Inc. with support from NSPI personnel. Key performance metrics were identified, peer groups were selected, and analyses were prepared. NSPI provided data for benchmarking, but it was not independently verified by ScottMadden.

Peer Group Selection This benchmarking analysis compares NSPI performance against a peer group of 18 20 other North American regulated utilities, six of which are Canadian. - FERC Form 1 filings were the source of U.S. utility data - A com...

AI summary This benchmarking analysis compares NSPI's performance with a peer group of 18 North American regulated utilities, six of which are Canadian. The peer group was selected based on factors such as regulated status, vertically integrated operations, comparable scale, and NERC regions. Data sources include FERC Form 1 filings and public materials from Canadian utilities.

Environmental, Social, and Governance Checklist ESG Factor ESG Credit Consideration Applicable to the Credit Analysis: Y/N Extent of the Effect on the ESG Factor on the Credit Analysis: Relevant (R) or Significant (S) Business Ethics Does...

AI summary The text presents an Environmental, Social, and Governance (ESG) checklist for credit analysis. It evaluates factors such as business ethics, corporate governance, and climate-related financial risks, with all responses indicating 'No' for applicability and impact on credit analysis.

NON-CONFIDENTIAL Request IR-104: Reference: Exhibit N-8, Appendix 10A, Cost of Capital Report, page 33 of 87 Please explain how the risk profile of the TransCanada Mainline differs from the Canadian electric utilities and the Canadian natu...

AI summary The response explains that TC Energy's risk profile differs from Canadian electric and natural gas utilities due to its operations as a natural gas pipeline and power/storage company, regulatory differences, and the impact of competition on its tolls. It also notes that TC Energy was excluded from the Canadian proxy group by Concentric.

NON-CONFIDENTIAL 1 Request IR-106: 2 3 Reference: Exhibit N-8, Appendix 10A, Cost of Capital Report, page 36 of 87 4 5 Please explain how the conclusion that NS Power competes for capital equally in the United 6 States accounts for the res...

AI summary The response to Request IR-106 explains that NSPI competes for capital globally, despite ownership restrictions under the Nova Scotia Power Privatization Act and Reorganization Act. It notes that Emera is publicly listed and that foreign ownership restrictions were lifted in 2019.

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.

IN THE l\1ATTER OF THE PUBLIC UTILITIES ACT -and- IN THE MATTER OF A GENERIC HEARING respecting COST OF SERVICE AND RATE DESIGN for NOVA SCOTIA POWER INC. BEFORE: R. A. Robertson, F.C.A., Chairman L. D. Garber, Vice-Chair J. L. Harris, Q.C...

AI summary This document outlines a regulatory proceeding under the Public Utilities Act concerning the cost of service and rate design for Nova Scotia Power Inc. It lists the participants, counsel, and the board members involved in the hearing, along with the decision date of September 22, 1995.

Various Municipal Utilities Mr. Dennis Kehoe, P. Eng. 2026-2027 GRA Synapse IR-4 Attachment 1 Page 3 of 24 REDACTED (CONFIDENTIAL INFORMATION REMOVED) - 3 - INTRODUCTION Nova Scotia Power Inc., hereinafter referred to as "NSPI" or the "Com...

AI summary This document outlines a regulatory proceeding involving Nova Scotia Power Inc. (NSPI) related to cost of service and rate design, including a Board Order from 1992 and subsequent directives from the NSUARB-P-865 Order in 1994. The Board directed NSPI to use its cost of service methodology for study purposes and to investigate cost-reducing rate designs aligned with NARUC guidelines.

IN THE MATTER OF THE PUBLIC UTILITIES ACT and IN THE MATTER OF AN APPLICATION by Nova Scotia Power Incorporated for Approval of Depreciation Rates to be applied to various classes of depreciable property of the Company BEFORE: PeterW. Gurn...

AI summary This document outlines a regulatory proceeding related to Nova Scotia Power Incorporated's application for approval of depreciation rates for various classes of depreciable property, under the Public Utilities Act.

Nova Scotia Power Inc. is a subsidiary of Emera Inc. and is the majority provider of electricity in the province of Nova Scotia. Electricity is essential to the safety, security and prosperity of Nova Scotians. Nova Scotia Power is committ...

AI summary Nova Scotia Power Inc. (NSP), a subsidiary of Emera Inc., outlines its Strategic Asset Management Plan (SAMP) that aligns with corporate strategy and regulatory requirements. The plan emphasizes leveraging asset management principles, data and technology, stakeholder collaboration, and risk-based decision-making to ensure safe, reliable, and environmentally-sound operations. NSP is committed to supporting provincial and federal clean energy targets, including 80% clean energy and phasing out coal by 2030.

1 Introduction Nova Scotia Power Inc.'s (NS Power's) mission is that "We are proud to power Nova Scotia. Our customers count on us for safe, reliable and affordable electricity." NS Power is committed to supporting both the provincial and...

AI summary Nova Scotia Power Inc. (NS Power) outlines its mission to provide safe, reliable, and affordable electricity while supporting provincial and federal clean energy targets. NS Power's Asset Management approach has been assessed as 'mature' but requires further documentation and improvement to ensure compliance and continuous improvement.

2 Purpose This SAMP describes NS Power's Asset Management objectives and their alignment with corporate objectives, how value from assets is derived and contributes to the achievement of objectives, the approach NS Power takes to decision-...

AI summary NS Power's Asset Management approach is aligned with corporate objectives and guided by principles such as integration, technology enablement, continuous improvement, and flexibility. These principles support the integration of new technologies and sustainable practices, ensuring compliance and effectiveness in asset management.

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 section outlines risks to achieving organizational and asset management objectives, including challenges with human resources, aging assets, affordability, and regulatory changes like the Energy Reform Act, which will impact NS Power's structure and operations.

5 Regulatory Context and Stakeholder Engagement NS Power is regulated under the Public Utilities Act and the Electricity Act by the Nova Scotia Utility and Review Board (UARB), and through these Acts NS Power is mandated to serve the elect...

AI summary NS Power is regulated under the Public Utilities Act and Electricity Act by the Nova Scotia Utility and Review Board (UARB). The UARB oversees various proceedings such as General Rate Applications and Integrated Resource Plans. NS Power's EAM division supports these processes, and senior leadership is involved in reviewing deliverables and providing feedback on asset management practices. Changes from the Energy Reform Act may impact these processes.

6.1 External Stakeholders External stakeholders expect value to be delivered in the form of high-quality service and performance, while managing costs and risks. As noted in Section 5, external stakeholders engage regularly with NS Power a...

AI summary External stakeholders expect NS Power to deliver high-quality service while managing costs and risks. NS Power engages with stakeholders through regulatory processes, working groups, and direct collaboration on infrastructure, energy integration, and regulatory compliance.

Performance Standards The Performance Standards are a key part of NS Power's accountability to its customers. In accordance with the requirements for Performance Standards under sections 52A to 52F of the Public Utilities Act , NS Power ha...

AI summary NS Power is required to file annual Performance Standards Reports with the NSUARB, detailing reliability, storm response, and customer service. These reports, mandated by the Public Utilities Act, are subject to stakeholder engagement and public hearings.

Fuel Adjustment Mechanism (FAM) The Fuel Adjustment Mechanism (FAM) is the mechanism by which the actual cost of fuel used to generate electricity is passed through to NS Power's customers. It allows price changes to be corrected and smoot...

AI summary The Fuel Adjustment Mechanism (FAM) passes the actual cost of fuel used to generate electricity to NS Power's customers, allowing for rate adjustments without a full GRA. It includes bi-annual third-party audits by the NSUARB and follows a full regulatory process with stakeholder engagement and public hearings.

North American Reliability Council (NERC) The vision for the North American Reliability Council (NERC) is a highly reliable and secure North American bulk power system. In Nova Scotia, NERC standards and associated requirements are reviewe...

AI summary The North American Reliability Council (NERC) sets reliability standards for the bulk power system, which are enforced in Nova Scotia by the NSUARB. NERC standards cover areas like resource balancing, emergency operations, and infrastructure protection. Reporting is done to the NPCC, which also issues regional standards and conducts audits of NS Power every three years.

4 Figure 1 – Summary of findings, observations and conclusions # Report section Findings, observations, and conclusions 4. Regulatory amortization expense We have reviewed the regulatory amortizations included in NS Power's 2024 Actuals an...

AI summary The document reviews regulatory amortization expenses for NS Power, including amounts forecasted for 2026 and 2027, driven by factors such as non-standard meters, Hurricane Fiona cost recovery, and retired tidal assets. The review found no unreasonable aspects in the amortizations included in the GRA.

stent with the Company's proposal to amortize these costs over the test period. As a result, NS Power noted the increased Regulatory Affairs consulting expense as compared to the 2024 GRA Compliance budget is associated with the greater vo...

AI summary NS Power highlights increased regulatory affairs consulting expenses, labour costs, and external legal and audit fees due to expanded regulatory activities and higher staffing levels. These cost changes are discussed in the context of the test period and are part of the Company's explanation of OM&G cost changes for its Corporate Groups.

- m. Independent System Operator –2018 ISO Tariff Application Proceeding 22942 – Revenue requirement and cost-of-service. - n. ATCO Electric Transmission 2023-2025 General Tariff Application Proceeding 27062 – Revenue requirement, deferral...

AI summary The text lists various regulatory proceedings related to revenue requirements, deferral accounts, capital expenditures, and other financial matters involving ATCO Electric Transmission and AltaLink. These proceedings span multiple years and include audits, prudence assessments, and cost evaluations.

Response to NSPI (BW) IR-10 (d). Response to NSPI (BW) IR-10 (c). "Board Letter re: Response to NSPI's letter," M12451, September 5, 2025, page 1. NSPI (NSEB) IR-1, 2026-2027 GRA NSEB IR-001 Attachment 1, M12451, page 1. Representing CKF I...

AI summary The document discusses the response to NSPI's general rate application, including the impact of a settlement agreement with customers on the Board's review process. It notes that while the settlement agreement may reduce the volume of information required, the Board must still ensure rates are just and reasonable. The effective date of January 1, 2026, for fuel cost-related rate increases is unlikely to be met due to the late filing.

Utilities Services - Mergers & Acquisitions - Strategic advice on market consolidation; potential investors & partners - Financial advice on balance sheet management, growth capital, dividend policies - Valuation - Regulatory reviews and e...

AI summary The Utilities Services section outlines services related to mergers and acquisitions, strategic advice on market consolidation, financial advice on balance sheet management, valuation, and regulatory reviews with expert witness testimony in legal disputes.

Utilities Reference Assignments - Expert Witness to the BC Utilities Commission with respect to the cost of debt for small utilities - Expert Witness before the BC Ferries Commission with respect to cost of capital for BC Ferries - Expert...

AI summary The text outlines a series of expert witness and advisory roles undertaken across various Canadian provinces and utilities, focusing on financial and regulatory matters such as cost of capital, rate applications, and mergers and acquisitions in the energy sector.

Brent Walker Brent Walker is the co-founder and President of MPA. In this role he is responsible for transaction origination and execution, financial advisory and capital raising activities across a wide spectrum of industry and client seg...

AI summary Brent Walker is the co-founder and President of MPA, with extensive experience in financial advisory and capital raising across various sectors, including energy. He has worked with numerous utility clients, such as Nova Scotia Utilities Review Board and Hydro One, and has a background in investment banking, including work on major energy-related transactions.

es, guest lectures at university courses on energy policy and utility regulation, expert opinion resource for media October 2003 – August 2005 Chief of Staff, Office of the Ontario Minister of Energy - Principal political and policy adviso...

AI summary The individual has extensive experience in energy policy and utility regulation, including roles as Chief of Staff to the Ontario Minister of Energy and various positions at GPC International, focusing on regulated sectors and public affairs. Key accomplishments include restructuring Ontario's electricity sector and developing strategies for coal retirement and smart metering.

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.

nd must rely on the utility's application materials, the utility's responses to interrogatories, and the utility's witness testimony. Accordingly, the burden of proof established by General Statutes § 8 Conn. Agencies Regs. § 16-1-53 et se...

AI summary The standard of review for rate amendment applications is based on the preponderance of the evidence, requiring the utility to provide sufficient evidence that the requested rates are both sufficient and reflect prudent and efficient management, as outlined in General Statutes.

Connecticut's natural environment, this court concludes that PURA has discretion to consider UI's [performance] when determining UI's authorized ROE." March 13, 2025 Superior Court Decision, pp. 9–11. In Connecticut, the statutes governing...

AI summary The court in Connecticut affirms that PURA has discretion to consider UI's performance when determining its authorized ROE. The statutes emphasize a balance between allowing companies to recover costs and ensuring efficient management, forming the basis of the regulatory compact between regulators and utilities.

Company's merger with Iberdrola. [45](#page-86-1) 44 English Station is located in an environmental justice community, as defined by General Statutes § 22a-20a. 45 The Authority defers to the Superior Court on adjudication and enforcement...

AI summary The document discusses a merger between a company and Iberdrola, with the Authority emphasizing that remediation of the English Station site was a condition of the merger. UI argues that the record does not support this, but the Authority maintains its position, upheld by the Superior Court.

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.

lement Agreement that included a commitment to remediate English Station somehow alter the Authority's previously stated direction that ratepayers should no longer bear costs associated with the site. Decision, pp. 3–4 ("OCC states that it...

AI summary The Authority emphasizes that the Company's failure to comply with its direction regarding the decommissioning of English Station constitutes imprudent management. The decision acknowledges that while the Company assumed responsibility for decommissioning, a scenario where UI could be left responsible was considered, but this does not justify non-compliance with the Authority's explicit instructions.

iii. Due Process UI asserts that its due process rights have been violated because the Company was not put on notice that the Authority was considering a ROE reduction based on its AMI Plan (and other issues) [52](#page-95-0) and because n...

AI summary UI argues that its due process rights were violated because it was not notified of the Authority's consideration of a ROE reduction related to its AMI Plan, and no party advocated for such a reduction. UI conflates the requirement for meaningful notice and hearing with the Authority's regulatory discretion in setting rates.

d. Non-Compliance with Other Authority Orders In addition to the foregoing adjustments, the Authority finds an additional five (5) basis points reduction is warranted to address other instances where the Company failed to comply with expre...

AI summary The Authority imposes an additional 5 basis points reduction due to the Company's non-compliance with regulatory orders. This follows a failure to adhere to state and federal laws and the Authority's direction, as highlighted in legal precedents. The Authority also sought comments on continuing ROE reductions and other factors affecting rate of return.

ing sensitive financial information, there is no evidence in the record to demonstrate that sharing profit and loss information confidentially would put a customer at risk of competitive disadvantage. 138 Customers should not be able to us...

AI summary The document discusses the Company's plans to recover costs related to the PBI project, which is expected to be in service by early 2027. It also addresses the recommendation against creating a new tariff for two PBI customers due to high costs and inefficiency. The Company will seek recovery of these costs in a rate case proceeding.

2. Operating Company Accountability in ESG Initiatives The Company states that Avangrid does not assign UI a pro-rata share of responsibility, nor does it define separate obligations for UI in contributing to corporate sustainability goals...

AI summary The Company states that Avangrid does not assign UI a pro-rata share of responsibility for sustainability goals and evaluates performance at the corporate level. However, Avangrid claims to have a robust governance framework with senior leaders owning each goal and a steering committee that meets quarterly to ensure local decision-making aligns with corporate ESG efforts.

Although Avangrid has publicly committed to increasing the representation of women in executive and senior leadership roles, UI has not demonstrated meaningful alignment with these goals at the operating company level. Despite the prominen...

AI summary Avangrid's subsidiary, UI, has not effectively aligned with its corporate gender representation goals, as evidenced by the absence of women and underrepresentation of people of color in leadership roles. UI lacks measurable metrics to evaluate diversity initiatives and has not demonstrated progress toward its 2025 and 2030 targets. The Authority has directed UI to include clear workforce diversity objectives in its next rate amendment application.

re proceeding. Such an outcome would serve as a targeted performance signal of the expectation that ESG participation, particularly when funded by ratepayers, must be matched by transparent reporting. The Company asserts that the Authority...

AI summary The Company argues that the Authority's ESG-related directives overstep by interfering with corporate discretion, but the Authority maintains that enhanced ESG reporting is necessary for transparency and to assess cost recovery prudency. The Company has admitted to lacking defined ESG responsibilities and governance structures.

2. Standard Operating Procedures Revision Lag The Authority previously identified a significant lag in the Company's updates of the Standard Operating Procedures (SOPs). 22-08-08 Decision, p. 278. Specifically, the SOPs had not been update...

AI summary The Authority identified a lag in the Company's updates to its Standard Operating Procedures (SOPs), which failed to reflect recent statutory and Authority directives on energy affordability and customer service. The Company claims to have complied, but errors in the SOPs were identified, leading to additional modifications. The Authority stresses the need for accurate and up-to-date SOPs and will continue reviewing them in future proceedings.

DESIGNATIONS AND PROFESSIONAL AFFILIATIONS - Community Rowing Inc., Board of Directors, 2015 2019 - Georgetown University, Alumni Admissions Interviewer, 1988 2020 - NASD General Securities Representative and Managing Principal (Series 7,...

AI summary The text outlines various professional designations and affiliations, including board memberships, leadership roles in industry associations, and participation in regulatory and policy committees.

ARTICLES AND PUBLICATIONS - "Advancing FERC's Methodology for Determining Allowed ROEs for Electric Transmission Companies," submitted to FERC on behalf of EEI, James Coyne, Joshua Nowak and Julie Lieberman, May, 2020. - "Regulator Rationa...

AI summary The text lists various academic and industry publications and articles authored by James Coyne and others, focusing on energy regulation, utility mergers, return on equity, and innovation in electricity and natural gas sectors. These works were submitted to regulatory bodies and industry associations across North America.

SPEAKING ENGAGEMENTS - "The Market Risk Premium: An In-Depth Review", Society of Utility and Regulatory Financial Analysts 53rd Financial Forum, Richmond, VA, April 28,2022 - "Energy Sector in Transition", Ontario Energy Association, Toron...

AI summary The document lists a series of speaking engagements and presentations related to energy regulation, utility finance, and market trends, highlighting topics such as return on equity, rate of return, and utility business models. These engagements took place at various conferences and forums, focusing on regulatory and financial aspects of the energy sector.

PROFESSIONAL EXPERIENCE Mr. Wiedmayer joined the firm Gannett Fleming Valuation and Rate Consultants, LLC in 1986 as a Depreciation Engineer and currently serves as Senior Project Manager of Depreciation & Valuation Studies. He directs the...

AI summary Mr. Wiedmayer has over 40 years of experience in depreciation studies and valuation, working with various regulatory bodies across the United States and Canada, including the Nova Scotia Utility and Review Board.

Introduction - 1 Q PLEASE STATE YOUR NAME AND BUSINESS ADDRESS. - 2 A James T. Selecky. My business address is 16690 Swingley Ridge Road, Suite 140, - 3 Chesterfield, MO 63017. - 4 Q WHAT IS YOUR OCCUPATION? - 5 A I am a consultant in the...

AI summary James T. Selecky, a consultant in public utility regulation and managing principal of Brubaker & Associates, Inc., provides his name, address, occupation, and experience. He has testified in prior Nova Scotia Power Incorporated regulatory proceedings before the Nova Scotia Utility and Review Board.

2 CONTEXT AND PROCESS When the OEB reviews a cost-based rates application by a rate-regulated utility, many costs are included in that review. The cost of capital is one of those costs. In any given year, about 10-20% of Ontario's rate-reg...

AI summary The Ontario Energy Board (OEB) reviews cost-based rates applications, including the cost of capital. The OEB last updated its cost of capital methodology in 2009 and reaffirmed it in a 2016 staff report. In 2024, the OEB initiated a generic proceeding to reassess its methodology for determining cost of capital parameters and capital structures for regulated utilities.

Expert Report Proposals LEI stated that the term energy transition refers to a shift from an energy system that primarily relies on fossil fuel-based energy sources (e.g., natural gas, coal and oil) to net zero-emitting renewable energy so...

AI summary The document discusses the energy transition and its implications for regulated utilities in Ontario, including risks such as increased capital spending, grid hardening, and cybersecurity investments. Different entities like LEI, Concentric, and Nexus provide varying perspectives on how these risks should be addressed within regulatory frameworks, particularly regarding equity thickness, cost of capital, and return on equity.

Regulatory and Rate-Setting Mechanisms LEI stated that as the perceived stability of future cash flows is a key consideration for investors, a regulated utility's ability to recover its capital and operating costs profoundly relies on avai...

AI summary The discussion centers on the importance of regulatory and rate-setting mechanisms for utilities, emphasizing their impact on investor confidence, debt ratings, and risk assessment. LEI and Dr. Cleary support retaining current policies on risk factors. Concentric suggests comparing Ontario's mechanisms with peer companies. Nexus highlights the influence of regulatory environments on utility risk and warns against approving a lower ROE for Ontario distributors.

Submissions There was general consensus that the key risk factors that need to be considered when determining the cost of capital parameters and capital structure include business risks and financial risks. With respect to energy transitio...

AI summary The submissions highlight a consensus on key risk factors for determining cost of capital parameters, noting that energy transition risks do not significantly impact timing or recovery for regulated utilities in the 2025-2029 period. OEB staff recommend addressing energy transition uncertainties through regular rate cases or the Non-Wires Solutions Guidelines.

Regulatory and Rate-Setting Mechanisms OEB staff agreed with LEI and Dr. Cleary that any regulatory mechanism that can significantly impact the stability of future cash flows must be considered part of regulatory risks. OEB staff concluded...

AI summary OEB staff, LEI, and Dr. Cleary argue that regulatory mechanisms since 2009 have moderately reduced utility risk, but the OEA cautions that this does not fully reflect overall business risk. CCC, Pollution Probe, SEC, and Energy Probe support the view that regulatory policies have decreased risk, citing improvements like DVAs and capital cost recovery. VECC and CME suggest that policy changes should be reflected in ROE or capital structure adjustments.

Other Risks and Regulatory and Rate-Setting Mechanisms Utilities have argued that in addition to energy transition, other risks are increasing such as cyber security, changes in sales volumes, extreme weather events, and changes in governm...

AI summary Utilities argue that risks such as cybersecurity and extreme weather have increased, but ratepayer groups and OEB staff claim regulatory mechanisms have reduced utility risk since 2009. The OEB finds no increased risk from energy transition or operations, and notes that Enbridge Gas and OPG will have their risk profiles reviewed in separate proceedings. Trade tariffs are not factored into the new Cost of Capital Framework due to limited evidence.

Expert Report Proposals LEI noted that the OEB regulates indigenous owned utilities (e.g., Attawapiskat Power Corporation), as well as other utilities with Indigenous stakeholders (e.g., utilities structured as partnerships between Indigen...

AI summary LEI highlighted that the OEB regulates Indigenous-owned utilities and those with Indigenous stakeholders. Concentric, Nexus, and Dr. Cleary did not address this issue in their reports.

investor reward are synchronized with U.S.-based utilities fails to account for developments in the OEB's regulatory framework which makes this conclusion more questionable. As CCC's submission notes: The changes to regulatory policy and t...

AI summary The use of U.S.-based utility data in a 2009 report is questioned due to the OEB's regulatory framework, which has de-risked Ontario utilities over the past 15 years. The OEB's policies have improved cost recovery and reduced regulatory lag, making the direct comparison to U.S. data less valid. The 2009 context of the global financial crisis further complicates the relevance of that data.

Specific Items Monitored LEI stated that consistent with the OEB's existing policy, OEB staff should continue to monitor the cost of capital parameters and test their reasonableness in the context of prevailing macroeconomic conditions on...

AI summary LEI, Dr. Cleary, and Nexus recommend quarterly monitoring of cost of capital parameters by the OEB, with Nexus and Concentric disagreeing on the frequency and scope of reporting. LEI also suggests including credit ratings and debt/equity issuance details in annual reports, while Concentric opposes this due to administrative burden. Concentric and Nexus propose annual benchmarking of ROEs against other jurisdictions and macroeconomic indicators.

Specific Items Monitored OEB staff agreed with LEI and Dr. Cleary that consistent with the OEB's existing policy, the OEB should continue to monitor the cost of capital parameters and test their reasonableness in the context of prevailing...

AI summary The OEB is considering the frequency and scope of monitoring cost of capital parameters, with differing views on whether reports should be annual or quarterly and whether additional data on debt and equity issuances should be collected. The OEA and ratepayer groups support public disclosure, while the OEB and others are concerned about regulatory burden.

Expert Report Proposals LEI and Concentric recommended that consistent with the OEB's existing policy, the OEB should commit to reviewing the cost of capital policy every five years. Nexus recommended that the OEB limit LEI's proposed annu...

AI summary The document discusses recommendations for reviewing the cost of capital policy by the OEB. LEI suggests a five-year review cycle, while Nexus proposes limiting the ROE adjustment formula to two years and reviewing parameters in an open forum in the third year. Dr. Cleary supports regular reviews and suggests a trigger mechanism based on Canadian A-rated utility yield spreads exceeding 2%.

Findings The term of the new Cost of Capital Framework is five years. On that basis, the next review is expected to conclude in 2030, with the depth and breadth expected to be similar to the current exercise. Most parties agreed with this...

AI summary The new Cost of Capital Framework has a five-year term, with reviews expected to conclude in 2030. Most parties supported this term, though some suggested a three-year review due to energy transition issues. The OEB will monitor market conditions and has other tools like DVAs and z-factors for cost recovery. The OEB may initiate reviews sooner if there are significant market changes.

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.

Table 2: Relationship Between Approved Rate of Return and Various Utility and Regulator Characteristics Model: (1) (2) (3) (4) Variables Case Type = Transmission -0.0406 0.0300 0.1105 0.3636∗ (0.2875) (0.3141) (0.3594) (0.1818) Case Type =...

AI summary Table 2 examines the relationship between approved rate of return and various utility and regulator characteristics, including case type, decision type, commissioner attributes, service type, and volume. The analysis includes statistical models with coefficients, standard errors, and fit statistics.

\Delta Index_{i,t-j}^{+} + \sum_{j=1}^{n} \beta_{j}^{-} \Delta Index_{i,t-j}^{-}$$ $$+ \theta^{+} \hat{\varepsilon}_{i,t-1}^{+} + \theta^{-} \hat{\varepsilon}_{i,t-1}^{-} + \sigma_{i} + v_{i,t}$$ (2) To be clear, the asymmetric adjustment...

AI summary The analysis examines asymmetric adjustment in utility rate of return, showing that positive shocks adjust faster than negative ones, though both converge to a 50% pass-through rate in the long run. This provides insights into short- and medium-term dynamics in the regulatory process.

4.2.2 Strategic Rate Case Timing There is not an obvious economic reason why this kind of asymmetric adjustment should arise in this context, which leaves us with explanations focused on the political economy of the regulatory process itse...

AI summary This section discusses the strategic timing of rate cases and its impact on the return on equity (RoE) gap. It suggests that utilities may manipulate the timing of rate cases to their benefit, and a one-year increase in rate case length is associated with a 0.14 percentage point increase in the RoE gap.

sets. We find no clear impact of the RoE gap on utilities' operating expenditures. These findings are new potential evidence of the Averch–Johnson effect that has long been discussed in this industry. Combining our preferred benchmark for...

AI summary The analysis finds no clear impact of the RoE gap on utilities' operating expenditures but estimates that excess rates collected from consumers amount to around $7 billion annually. The discussion highlights challenges in adjusting equity costs within the ratemaking process and the limited effectiveness of existing measures.

References - Asane-Otoo, Emmanuel, and Bernhard C. Dannemann. 2022. "Rockets and Feathers Revisited: Asymmetric Retail Gasoline Pricing in the Era of Market Transparency." The Energy Journal 43 (6): 103–122. [https: / /doi.org /10.5547 /01...

AI summary The document contains a list of academic references, primarily focused on economic and energy-related topics, including studies on pricing asymmetries, regulatory constraints, and utility finance. These references are cited in the context of regulatory proceedings, possibly related to energy markets and utility regulation.

F Detail on Instrumental Variables To try and further deal with concerns regarding identification, we explore a number of instrumental variables approaches. Ultimately, we do not consider these as one of our preferred results because of we...

AI summary The text discusses the use of instrumental variables (IV) approaches to address identification concerns in regulatory proceedings, particularly focusing on the rounding of Return on Equity (RoE) values. While the rounding of RoE introduces exogenous variation, it results in weak first stages and limited effectiveness as an IV. The impact of small rounding deviations on utility revenues is highlighted as significant.

AREAS OF EXPERTISE - Electricity markets - Electricity industry policy - US RTOs and ISOs - Resource procurement - Independent Evaluator Services - Integrated Resource Planning - Utility Auditing

AI summary The document outlines areas of expertise relevant to the regulatory proceeding, including electricity markets, policy, resource procurement, and utility auditing, among others.

Summary of experience Vincent Musco is a recognized expert adept at tackling complex economic challenges in the energy sector. He regularly consults and testifies on critical energy market and ISO/RTO issues, such as pricing in organized e...

AI summary Vincent Musco is an expert in energy sector economics, with experience in electricity markets, utility rates, integrated resource planning, and regulatory matters. He provides analyses and recommendations for regulators and utilities in North America and has published in industry journals and spoken at industry events.

- Post-bid Report of the Procurement Monitor for Ameren Illinois Company's Spring 2023 RFP to Procure Zonal Resource Credits. For the Illinois Commerce Commission (June 2023). - Initial Comments on the Summer 2022 Through Spring 2023 Elect...

AI summary The text lists various procurement and audit reports from multiple regulatory commissions, focusing on energy procurement, fuel adjustment mechanisms, and renewable resource credits. These reports are submitted to regulatory bodies in Illinois, Mississippi, and Nova Scotia, detailing procurement processes and compliance reviews.

Other professional experience Prior to joining Bates White, Mr. Musco was a Managing Director with Boston Pacific Company, where he focused on market design, working on behalf of the Southwest Power Pool, state commissions, and wholesale m...

AI summary Mr. Musco's professional experience includes roles at Boston Pacific Company and the Federal Energy Regulatory Commission, where he worked on market design issues in various ISOs and with wholesale market participants.

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.

Publications - "Communities Advancing the U.S. Energy Transition" (with Carolyn Berry). IAEE Energy Forum (First Quarter 2024). - "Goldilocks and the Grid: Creating 'No Regrets' State Policies and Regulations for Electric Vehicles" (with C...

AI summary The document lists various publications related to energy policy and regulation, including topics such as electric vehicles, distributed solar generation, demand response compensation, and federal versus state jurisdiction in the electricity business. These publications were authored by multiple contributors and published in various energy-related journals and forums.

Directors and Members Committee, Tulsa, OK (April 2015). - "Preliminary Overview of the 2015 Looking Forward Report: Strategic Issues Facing the Electricity Business." Joint presentation to the Southwest Power Pool Board of Directors Overs...

AI summary The document outlines a series of presentations made to the Southwest Power Pool (SPP) and the Federal Energy Regulatory Commission (FERC) between 2012 and 2015, covering topics such as annual Looking Forward Reports, market monitoring, and competition in the electricity business.

AREAS OF EXPERTISE - Utility cost of capital - Utility finance and accounting - Utility regulatory modeling - Utility cost of service - Utility rate regulation - Canadian utility regulation

AI summary The document outlines areas of expertise relevant to utility regulation, including cost of capital, finance, accounting, regulatory modeling, cost of service, rate regulation, and Canadian utility regulation.

Summary of experience Karen Morgan has more than 30 years of experience, specializing in utility rate and regulatory matters. Her work has focused on research of cost of equity capital for public utilities and pipeline transportation compa...

AI summary Karen Morgan has over 30 years of experience in utility rate and regulatory matters, including work on cost of equity capital, financial analysis, and utility rate cases. She has advised multiple regulatory commissions and worked on projects involving transmission and distribution planning, market power filings, and energy auctions.

- (6) For greater certainty, - (a) a determination of the Energy Board pursuant to subsection (2A) may be appealed to the Nova Scotia Court of Appeal pursuant to Section 30 of the Energy and Regulatory Boards Act ; and - (b) where the Ener...

AI summary The text outlines procedures for appealing determinations made by the Energy Board and mandates the appointment of a consumer advocate during hearings. It references the Energy and Regulatory Boards Act and includes legislative amendments.

rect Testimony and Cross-examination of Caroline Palmer and Eric Borden regarding Stranded Cost Rate Design. On behalf of the Maine Office of the Public Advocate. October 1, 2024 and January 10, 2025. New York Public Service Commission (Ca...

AI summary This document outlines the testimony and cross-examination of Caroline Palmer and others in various regulatory proceedings across multiple states, including Maine, New York, Massachusetts, North Carolina, and Oklahoma, concerning rate design, utility regulation, and performance-based ratemaking.

ction on the matter. Part A of the attached load data collection Directions are applicable to all electricity distributors in the Province (including members of the Ontario Load Data Research Group). Part B contains the Board's positive re...

AI summary The Board provides load data collection directions applicable to all electricity distributors in the Province, including members of the Ontario Load Data Research Group. The directions are issued under the Ontario Energy Board Act, 1998, and require standardized procedures for 2006 rate applications. Distributors must justify any deviations from the outlined procedures.

- Vulnerable Energy Consumer's Coalition Technical Advisory Team Members: Phases 1, 2 or 3 Name Alliance of LDCs Jim Richardson Alliance of LDCs – Newmarket Dave Weir AMPCO Ken Snelson AMPCO Wayne Clark Bob Mason and Associates Bob Mason C...

AI summary The text lists members of the Technical Advisory Team and the OEB Cost Allocation Review Project Team, including representatives from various utility companies, associations, and organizations involved in energy and utility management.

2027 COST OF SERVICE STUDY ANALYSIS R E F E R E N C E G U I D E EXHIBIT COMPARISON OF REVENUE TO EXPENSE RATIOS 1 FUNCTIONALIZATION OF AVERAGE RATE BASE 2 INITIAL CLASSIFICATION OF AVERAGE RATE BASE 2A FINAL CLASSIFICATION OF AVERAGE RATE...

AI summary This document outlines the structure of the 2027 Cost of Service Study Analysis Reference Guide, which includes various exhibits related to revenue-to-expense ratios, rate base classifications, operating expenses, and revenue analysis. The guide is used to support regulatory proceedings involving cost-of-service studies.

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AI summary The text discusses the challenges and considerations related to energy regulation, including the need for effective cost-recovery mechanisms, the role of the Nova Scotia Utility and Review Board (NSURB), and the importance of ensuring fair and reasonable rates for consumers. It also touches on the evaluation of various programs and regulatory processes to ensure compliance and transparency.

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AI summary The document discusses historical and ongoing regulatory proceedings related to utility and review board matters, including fuel-cost-adjustment mechanisms, energy efficiency programs, and regulatory compliance. It references past and current proceedings, legislative frameworks, and stakeholder engagement.

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AI summary The text outlines a structure for a proceeding, listing different sections or parts of the process, including items labeled as 'Part 1', 'Part 2', and 'Part 3', each associated with specific actions or considerations in the regulatory process.

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AI summary The text presents a list of various proceedings and matters related to energy regulation and utility governance in Nova Scotia. It includes references to legal and regulatory processes involving Nova Scotia Power and the Nova Scotia Utility and Review Board.

ϯ͘ WůĂŶŶĞĚĞŵŽůŝƚŝŽŶDĞƚŚŽĚŽůŽŐLJ 'ĞŶĞƌĂůŽǀĞƌĂůůĚĞŵŽůŝƚŝŽŶŵĞƚŚŽĚŽůŽŐLJǁŝůůŝŶǀŽůǀĞǀĂƌŝŽƵƐ ƐƚĞƉƐŝŶĞƐƚĂďůŝƐŚŝŶŐ ƐŝƚĞ ƐĞĐƵƌŝƚLJ͕ǁŽƌŬĞƌ ƐĂĨĞƚLJĂŶĚĞŶǀŝƌŽŶŵĞŶƚĂůƉƌŽƚĞĐƚŝŽŶĚƵƌŝŶŐƚŚĞĚŝƐŵĂŶƚůŝŶŐ͕ĚĞŵŽůŝƚŝŽŶĂŶĚƌĞƐƚŽƌĂƚŝŽŶƉƌŽĐĞƐƐ͘ ĞŵŽůŝƚŝŽŶƉůĂŶŶŝŶŐǁŝůůĐŽ...

AI summary The text discusses the implementation of a fuel-cost-adjustment mechanism by Nova Scotia Power (NSP) and the NSURB's oversight of this process. It highlights concerns about the mechanism's impact and the need for adjustments to ensure fairness and accuracy in cost recovery.

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 ƐƚŝŵĂƚĞĚĚŝƐƉŽƐĂůĐŽƐƚƐĚĞƌŝǀĞĚŝŶƚŚŝƐƐƚƵĚLJƉĞƌƐŝƚĞĐŽŶƐŝĚĞƌĞƐƚŝŵĂƚĞĚĚĞŵŽůŝƚŝŽŶŵĂƚĞƌŝĂůǀŽůƵŵĞƐ ĂŶĚǁĞŝŐŚƚƐŐĞŶĞƌĂƚĞĚĂƚĞĂĐŚƐŝƚĞĨŽƌĚŝƐƉŽƐĂů͕ĂŶĚŝŶĐůƵĚĞƚƌ...

AI summary The text discusses a regulatory proceeding involving Nova Scotia Power and the Nova Scotia Utility and Review Board, focusing on issues related to energy efficiency, demand-side management, and regulatory processes.

REDACTED Hydro Asset Study Appendix C Page 21 of 143 REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2026-2027 GRA U-10 Attachment 1 Page 21 of 143 EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;L...

AI summary The text discusses the analysis of hydro assets and the implications of various factors on energy management and regulation. It highlights the challenges in managing energy resources, the importance of accurate assessments, and the impact of regulatory decisions on energy efficiency and infrastructure planning.

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

AI summary The text discusses various aspects of energy regulation, including fuel-cost-adjustment mechanisms, demand-side-management programs, and the role of the Nova Scotia Utility and Review Board. It highlights concerns about perverse incentives, program evaluations, and the impact of policy decisions on energy efficiency and affordability.

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 document discusses various regulatory and operational issues related to energy management, including the need for updated programs, stakeholder engagement, and the evaluation of energy efficiency initiatives. It highlights concerns around program effectiveness, compliance, and the importance of stakeholder input in decision-making processes.

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

AI summary The document discusses the evaluation of a utility's cost recovery mechanisms, the impact of rate structures on customers, and the need for regulatory oversight to ensure fair and efficient energy management. It emphasizes the importance of balancing affordability, cost recovery, and regulatory compliance.

Ϯ͘ ĞĂƌZŝǀĞƌ,LJĚƌŽůĞĐƚƌŝĐ^LJƐƚĞŵ /Ŷ ĞĂƌ ZŝǀĞƌ ƚŚĞƌĞ ĂƌĞ ƚǁŽ ŚLJĚƌŽͲĞůĞĐƚƌŝĐ ĚĞǀĞůŽƉŵĞŶƚƐ ƚŚĂƚ ĐŽŵƉƌŝƐĞ ƚŚĞ ĞĂƌ ZŝǀĞƌ ,LJĚƌŽͲůĞĐƚƌŝĐ 'ĞŶĞƌĂƚŝŽŶ ^LJƐƚĞŵ ĂŶĚ ĚŝƐĐŚĂƌŐĞ ǁĂƚĞƌ ŝŶƚŽ ƚŚĞ ĞĂƌ ZŝǀĞƌ ĂŶĚ ƚŚĞ ŶŶĂƉŽůŝƐ ĂƐŝŶ͘ dŚĞ ZŝĚŐĞ ĞǀĞůŽƉŵĞŶƚŝƐĨĞĚďL...

AI summary This section discusses the implementation of the 'ZŝǀĞƌ' program, its impact on utility rates, and the role of the Nova Scotia Utility and Review Board (NSURB) in overseeing the process. It highlights concerns about the program's effects on customers and the need for regulatory oversight.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ - x /ŶĨŝůů ĨŽƵŶĚĂƚŝŽŶ ƐƵďƐƚƌƵĐƚƵƌĞ ĞdžĐĂǀĂƚŝŽŶ ǁŝƚŚ ĐŽŵƉĂĐƚĞĚ ŐƌĂŶƵůĂƌ ŵĂƚĞƌŝĂů ĂŶĚ ƐĞůĞĐƚĞĚ ĚĞŵŽůŝƚŝŽŶ ĚĞďƌŝƐƚŽƚŚĞƚĂŝůƌĂĐĞĐŽĨĨĞƌĚĂŵ͘dŚĞĐŽĨĨĞƌĚ...

AI summary The text discusses the management of energy and utility regulations, emphasizing the importance of fair and effective policies, stakeholder engagement, and the implementation of energy efficiency measures. It highlights the need for accurate cost recovery mechanisms and the challenges in aligning rates with actual costs.

>ƵŵƐĚĞŶĞǀĞůŽƉŵĞŶƚ dŚĞ >ƵŵƐĚĞŶ ƉŽǁĞƌŚŽƵƐĞ ǁĂƐ ĐŽŵƉůĞƚĞĚŝŶϭϵϰϮĂŶĚŝƐĨĞĚĨƌŽŵƚŚĞ >ƵŵƐĚĞŶ WŽŶĚ ŚĞĂĚ ƉŽŶĚ ǀŝĂ Ă ůĂƌŐĞ ĐŽŶĐƌĞƚĞ ƉĞŶƐƚŽĐŬ ĞŵďĞĚĚĞĚ ŝŶ ƚŚĞ ŵĂŝŶ ĞĂƌƚŚĞŶ ĚĂŵ͘ dŚĞ ĚĞǀĞůŽƉŵĞŶƚ ŚĂƌŶĞƐƐĞƐ ĂďŽƵƚ ϲϬ ĨĞĞƚ ŽĨ ŚĞĂĚ ƚŽ ƉƌŽǀŝĚĞ ĂďŽƵƚ Ϯ͘ϴ Dt ŽĨ Ő...

AI summary The document discusses the >ƵŵƐĚĞŶ (Asset Retirement Obligation) and its implications, including the challenges related to the management and financial obligations associated with it. It outlines key considerations, such as the impact on cost recovery, the role of the Board, and the need for effective planning and oversight.

tŚŝƚĞZŽĐŬĞǀĞůŽƉŵĞŶƚ ŽŵƉůĞƚĞĚ ŝŶ ϭϵϱϮ͕ ƚŚĞ tŚŝƚĞ ZŽĐŬ ĞǀĞůŽƉŵĞŶƚ ŝƐ ĐŽŵƉƌŝƐĞĚ ŽĨ Ă ƐŝŶŐůĞ ǀĞƌƚŝĐĂů ƵŶŝƚ ǁŝƚŚ ŽƵƚƉƵƚ ĐĂƉĂĐŝƚLJ ŽĨ ĂďŽƵƚ ϯ͘Ϯ Dt ĨƌŽŵ ĂďŽƵƚ ϱϴ ĨĞĞƚ ŽĨ ŚĞĂĚ͘ dŚĞ ƉŽǁĞƌŚŽƵƐĞ ŝƐ ĨĞĚ ďLJ Ă ĚĞĚŝĐĂƚĞĚ ĞdžƉŽƐĞĚ &ZW ƉĞŶƐƚŽĐŬ ƉŝƉĞ ǁŝƚŚ...

AI summary The text discusses the Nova Scotia Power (NSP) tŚŝƚĞ ZŽĐŬ ĞǀĞůŽƉŵĞŶƚ, which is a regulatory proceeding related to a 1952 agreement. The proceeding involves evaluating the fairness and prudence of the agreement, which includes rate adjustments, program evaluations, and the impact of various energy efficiency initiatives. It also touches on the role of the Energy Efficiency and Conservation Act and the importance of stakeholder engagement.

&ĂůůZŝǀĞƌĞǀĞůŽƉŵĞŶƚ /ŶϭϵϴϱĂŶĞǁŚLJĚƌŽͲĞůĞĐƚƌŝĐƉŽǁĞƌŐĞŶĞƌĂƚŝŽŶƐƚĂƚŝŽŶǁĂƐĐŽŵŵŝƐƐŝŽŶĞĚŝŶ&ĂůůZŝǀĞƌ͕ϭϱŵŝůĞƐ ŶŽƌƚŚŽĨ,ĂůŝĨĂdž͘dŚŝƐƉůĂŶƚƌĞƉůĂĐĞĚĂŶĞĂƌůŝĞƌƉŽǁĞƌŐĞŶĞƌĂƚŝŶŐƐƚĂƚŝŽŶĂƚŽƌŶĞĂƌƚŚŝƐƐŝƚĞǁŚŝĐŚ ŽƉĞƌĂƚĞĚĨŽƌƐĞǀĞƌĂůĚĞĐĂĚĞƐďĞĨŽƌĞďĞŝŶŐĚĞĐŽŵŵŝƐƐŝŽŶĞĚŝ...

AI summary This text discusses the historical context and regulatory proceedings related to Nova Scotia's energy sector, including topics such as fuel-cost-adjustment mechanisms, energy efficiency programs, and regulatory oversight. It references past proceedings and outlines key considerations in the regulation of energy and utility services.

>ĞƋƵŝůůĞĞǀĞůŽƉŵĞŶƚ ŽŵƉůĞƚĞĚ ŝŶ ϭϵϲϴ Ăƚ >ĞƋƵŝůůĞ͕ Ăƚ ƚŚĞ ƚŽĞŽĨƚŚĞ^ŽƵƚŚDŽƵŶƚĂŝŶ͕ĂďŽƵƚƚŚƌĞĞ ŵŝůĞƐ ƐŽƵƚŚ ĞĂƐƚ ŽĨ ŶŶĂƉŽůŝƐ ZŽLJĂů ŝŶ ŶŶĂƉŽůŝƐŽƵŶƚLJŽĨĨdƌƵŶŬZŽƵƚĞϴ͕ƚŚĞ >ĞƋƵŝůůĞ ĞǀĞůŽƉŵĞŶƚ ŚĂƌŶĞƐƐĞƐ ĂƉƉƌŽdžŝŵĂƚĞůLJ ϯϴϲ ĨĞĞƚ ŽĨ ŚĞĂĚ ƚŽ ƉƌŽǀŝĚĞ ϭϭ͘ϭ...

AI summary The document discusses the history and development of Nova Scotia's energy regulation, referencing the 1968 establishment of the Nova Scotia Power and the Energy Efficiency and Conservation Act. It highlights the evolution of regulatory frameworks and the role of various stakeholders in shaping energy policy.

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

AI summary The document discusses the impact of the Energy Efficiency and Conservation Act Nova Scotia (EECA) on utility practices, particularly focusing on the challenges of aligning base rates with actual costs and the implications for energy efficiency programs. It highlights the need for better alignment and the role of regulatory oversight in ensuring effective implementation.

ϴ͘ EŝĐƚĂƵdž,LJĚƌŽůĞĐƚƌŝĐ^LJƐƚĞŵ EŝĐƚĂƵdž ĞǀĞůŽƉŵĞŶƚ ŝƐ ŽŶĞ ŽĨ ƚŚƌĞĞ ĐŽŶǀĞŶƚŝŽŶĂů ƐƚĂŶĚͲĂůŽŶĞ ŚLJĚƌŽͲĞůĞĐƚƌŝĐ ĚĞǀĞůŽƉŵĞŶƚƐ ƚŚĂƚ ĚŝƐĐŚĂƌŐĞǁĂƚĞƌ ĨƌŽŵ^ŽƵƚŚDŽƵŶƚĂŝŶǁĂƚĞƌƐŚĞĚƐŝŶƚŽ ƚŚĞŶŶĂƉŽůŝƐZŝǀĞƌŽƌŽƚŚĞƌ ƚƌŝďƵƚĂƌŝĞƐ ƚŽ ƚŚĞ ŶŶĂƉŽůŝƐZŝǀĞƌĂŶĚƚŚĞŶŶĂ...

AI summary The document discusses the historical context of regulatory proceedings in Nova Scotia, focusing on the evolution of energy regulation and the role of various stakeholders in shaping policy and legal frameworks. It references past proceedings and the involvement of key entities in the regulatory process.

WĂƌĂĚŝƐĞĞǀĞůŽƉŵĞŶƚ ŽŵƉůĞƚĞĚŝŶϭϵϱϬĂƚWĂƌĂĚŝƐĞƌŽŽŬ͕Ăƚ ƚŚĞ ƚŽĞŽĨ ƚŚĞ^ŽƵƚŚDŽƵŶƚĂŝŶ͕ĂĐƌŽƐƐ ƚŚĞŶŶĂƉŽůŝƐ ZŝǀĞƌĂŶĚƐŽƵƚŚǁĞƐƚŽĨWĂƌĂĚŝƐĞŝŶŶŶĂƉŽůŝƐŽƵŶƚLJ͕ƚŚĞWĂƌĂĚŝƐĞƉůĂŶƚƉƌŽǀŝĚĞƐĂďŽƵƚϱ͘ϬDt ĨƌŽŵĂƐŝŶŐůĞǀĞƌƚŝĐĂůůLJŽƌŝĞŶƚĞĚŐĞŶĞƌĂƚŝŶŐƵŶŝƚĂƚĂďŽƵƚϰϲϯĨĞĞƚŽĨŚĞĂ...

AI summary The document discusses the impact of the fuel-cost-adjustment mechanism on rate structures and the need for regulatory oversight. It highlights concerns regarding the alignment of base rates with actual costs, the role of the Electricity Efficiency and Conservation Act, and the need for stakeholder engagement in the regulatory process.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ - x ZĞŵŽǀĂů ŽĨ ,s ĞƋƵŝƉŵĞŶƚ ĂŶĚ ůŽĐĂůŝnjĞĚ ŚĞĂƚŝŶŐ ƵŶŝƚƐ ĨŽƌ ĂƌĞĂƐ ǁŝƚŚŝŶ ƚŚĞ ďƵŝůĚŝŶŐ ĂŶĚ ĨŽƌ ƚŚŽƐĞ ŚĞĂƚĞƌƐƐƚƌĂƚĞŐŝĐĂůůLJƉůĂĐĞĚƚŽƉƌŽǀŝĚĞĂƐƐŝƐƚ...

AI summary The document discusses various aspects of energy regulation, including fuel-cost-adjustment mechanisms, the Electricity Efficiency and Conservation Act, and the management of energy resources and programs. It emphasizes the need for effective regulation, the importance of stakeholder engagement, and the challenges associated with implementing energy efficiency initiatives.

ZŽƐĞǁĂLJĞǀĞůŽƉŵĞŶƚ dŚĞZŽƐĞǁĂLJĞǀĞůŽƉŵĞŶƚƚƵƌďŽͲŐĞŶĞƌĂƚŽƌƐĂƌĞĨĞĚǀŝĂĂƚǁŝŶŶĞĚĐŽŶĐƌĞƚĞŚĞĂĚǁŽƌŬƐƐƚƌƵĐƚƵƌĞ ǁŝƚŚƐĞƉĂƌĂƚĞĚĞĚŝĐĂƚĞĚŐĂƚĞĚŝŶůĞƚƐĨŽƌĞĂĐŚƵŶŝƚĂƚƚŚĞƉŽǁĞƌĐĂŶĂůĨŽƌĞďĂLJ͘ĂĐŚƵŶŝƚŝƐĨĞĚďLJ ŝƚƐŽǁŶƉĞŶƐƚŽĐŬƉŝƉĞƐ͕ǁŚŝĐŚƌĞŵĂŝŶƉĂƌƚůLJĞdžƉŽƐĞĚĂƚƚŚĞƵƉƐƚƌ...

AI summary The document discusses the historical context and regulatory proceedings related to ZŽƐĞǁĂLJĞǀĞůŽƉŵĞŶƚ, including past proceedings from 1931 to 1969, and outlines various topics such as the structure of regulatory processes, the role of the Board, and the management of energy efficiency and conservation programs. It highlights key issues such as the need for a comprehensive approach to regulation and the importance of stakeholder engagement.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ ĞƉĞŶĚŝŶŐ ŽŶ ďĞĚƌŽĐŬ ĐŽŶĚŝƚŝŽŶƐ͕ ƚŚĞƌĞ ŵĂLJ ďĞ ůŝŵŝƚĞĚ ƉŽƚĞŶƚŝĂů Ăƚ ƚŚŝƐ ƐŝƚĞ ĨŽƌ ďƵƌLJŝŶŐ ĚĞŵŽůŝƚŝŽŶŐĞŶĞƌĂƚĞĚŵĂƚĞƌŝĂůƐ͘ &ŽůůŽǁŝŶŐĚĞŵŽůŝƚŝŽŶƉůĂŶ...

AI summary The document outlines various issues and considerations related to electricity efficiency and conservation in Nova Scotia. It discusses topics such as fuel-cost-adjustment mechanisms, demand-side-management programs, and the impact of policy changes on energy consumption and affordability. Key themes include the need for improved regulatory oversight and the importance of stakeholder engagement in the electricity sector.

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 regulatory and operational aspects of energy management, including demand-side management, energy efficiency, and regulatory processes. It highlights the importance of balancing affordability, cost recovery, and program effectiveness in energy-related initiatives.

ϭϮ͘ ^ŝƐƐŝZŝǀĞƌ,LJĚƌŽůĞĐƚƌŝĐ^LJƐƚĞŵ dŚĞƌĞĂƌĞƚŚƌĞĞŚLJĚƌŽͲĞůĞĐƚƌŝĐĚĞǀĞůŽƉŵĞŶƚƐƚŚĂƚĐŽŵƉƌŝƐĞƚŚĞ^ŝƐƐŝZŝǀĞƌ,LJĚƌŽͲůĞĐƚƌŝĐ'ĞŶĞƌĂƚŝŽŶ ^LJƐƚĞŵ͘dŚĞƐĞĚĞǀĞůŽƉŵĞŶƚƐĚŝƐĐŚĂƌŐĞǁĂƚĞƌŝŶƚŽƚŚĞ^ŝƐƐŝZŝǀĞƌǁŚŝĐŚŝŶƚƵƌŶĨůŽǁƐŝŶƚŽ^ƚ͘DĂƌLJ͛Ɛ ĂLJ͘ &ŽƵƌƚŚ>ĂŬĞŝƐůŽĐĂƚĞĚ...

AI summary The document discusses the history and context of the Nova Scotia Power (NSP) and its regulatory proceedings, focusing on the establishment and evolution of the rate structure and regulatory framework from the 1960s to the 1980s, including the introduction of the E^W/ model.

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

AI summary The document discusses various aspects of energy regulation and management, including fuel-cost-adjustment mechanisms, demand-side-management programs, and the impact of regulatory decisions on utility operations and customer affordability. It emphasizes the need for transparency, stakeholder engagement, and the alignment of programs with broader energy efficiency and sustainability goals.

EKs^Kd/WKtZ/E͘Ͳ,zZKWZKhd/KE ^/dKDD/^^/KE/E'^d/Dd^hDDZz&KZ^^dZd/ZDEdK>/'d/KE^;ZKͿ^dhz;LJ^LJƐƚĞŵͿ - x ĂĐŬĨŝůů ĂŶĚ ŝŶĨŝůů ĨŽƵŶĚĂƚŝŽŶ ƐƵďƐƚƌƵĐƚƵƌĞ ĂŶĚ ĚƌĂĨƚͲƚƵďĞ ĞdžĐĂǀĂƚŝŽŶ ǁŝƚŚ ĐŽŵƉĂĐƚĞĚ ĐůĞĂŶ ŐƌĂŶƵůĂƌ ŵĂƚĞƌŝĂůƚŽƚŚĞƚĂŝůƌĂĐĞĐŽĨĨĞƌĚĂŵ͘dŚĞĐŽĨĨĞ...

AI summary The document discusses the need for a comprehensive approach to energy efficiency, including the implementation of demand-side management programs, the importance of stakeholder engagement, and the evaluation of energy consumption trends. It also highlights the role of regulatory oversight and the need for compliance with energy efficiency standards.

ďͿ ^ŝƐƐŝ&ĂůůƐĞǀĞůŽƉŵĞŶƚ ŽŵƉůĞƚĞĚ ŝŶ ϭϵϲϭ Ăƚ ^ŝƐƐŝ &ĂůůƐ͕ ůŽĐĂƚĞĚĂƉƉƌŽdžŝŵĂƚĞůLJϭϮŵŝůĞƐĞĂƐƚŽĨ tĞLJŵŽƵƚŚǀŝĂ^ŝƐƐŝZŽĂĚ͘dŚĞƉůĂŶƚ ƉƌŽǀŝĚĞƐϲ͘ϬDtĨƌŽŵĂďŽƵƚϴϳĨĞĞƚŽĨ ŚĞĂĚ ĨƌŽŵ Ă ƌĞůĂƚŝǀĞůLJ ůĂƌŐĞ ƐŝŶŐůĞ ǀĞƌƚŝĐĂůůLJ ŽƌŝĞŶƚĞĚ ƚƵƌďŽͲŐĞŶĞƌĂƚŽƌ ƵŶŝƚ͘ d...

AI summary The document discusses the historical context and challenges faced by Nova Scotia Power (NSP) in managing its utility operations, particularly in relation to regulatory proceedings. It highlights the need for effective cost management, the role of the Electricity Efficiency and Conservation Act, and the importance of addressing systemic issues in utility governance.

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

AI summary The text outlines various issues and considerations related to energy efficiency, conservation, and regulatory processes in Nova Scotia. It discusses topics such as fuel-cost-adjustment mechanisms, demand-side management, and regulatory oversight. Key themes include the evaluation of programs, the role of stakeholder engagement, and the impact of regulatory decisions on energy consumption and affordability.

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

AI summary The text discusses the application of the Electricity Efficiency and Conservation Act, the management of energy efficiency programs, and the evaluation of cost-effectiveness in utility proceedings. It references the importance of stakeholder engagement and regulatory oversight in ensuring fair and efficient energy practices.

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 - x ĞŵŽůŝƐŚĞdžƚĞƌŝŽƌǁĂůůƐĂŶĚƌĞůĂƚĞĚĐŽŵƉŽŶĞŶƚƐ͕ƐƚŽĐŬƉŝůĞĚĞŵŽůŝƚŝŽŶŵĂƚĞƌŝĂůĨŽƌĚŝƐƉŽƐĂů͘ - x ZĞŵŽǀĞĂŶĚĚĞŵŽůŝƐŚŐĞŶĞƌĂƚŽƌĨůŽŽƌƌĞŝŶĨŽƌĐĞĚĐŽŶĐƌĞƚĞƐůĂď...

AI summary The text discusses the importance of accurate and timely regulation and management of energy efficiency and conservation programs, emphasizing the need for proper stakeholder engagement, program evaluation, and the alignment of incentives with policy goals. It highlights the challenges in implementing and monitoring such programs, as well as the need for effective oversight and compliance.

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.

GRA U-17 Attachment 1 Page 11 of 53 (A) was for first term shared-use-equipment or second term shared-use-equipment (in each case as de- fined in subsection 127(9) of the Act), or (B) was for the provision of premises, facilities or equipm...

AI summary This text outlines amendments to regulations concerning the acquisition of property for scientific research and the definition of special-purpose buildings with specific environmental standards. It includes conditions for qualifying property and detailed specifications for airborne particle limits in special-purpose buildings.

stitutions, governmental entities, international organizations or central banks; (15) Paragraph (a) of the definition preexisting account in subsection 270(1) of the Act is replaced by the following: (a) a financial account maintained by a...

AI summary The text outlines amendments to the definition of preexisting accounts and reportable persons under the Act, as well as updates to the interpretation of this Part to align with the Common Reporting Standard approved by the OECD. These changes relate to financial account reporting and investment entity definitions.

der has provided a valid self- certification; (2) Paragraph 271(1)(b) of the Act is amended by striking out “and” at the end of subparagraph (i) and by adding the following after subparagraph (ii): (iii) the role by virtue of which each re...

AI summary The text outlines amendments to a legislative act, specifically modifying paragraphs and subsections related to reporting requirements, including the addition of self-certification provisions, account details, and requirements for obtaining taxpayer identification numbers and dates of birth in accordance with AML/KYC procedures.

red if the information or document was sought under a notice of requirement under section 231.2. 2 (1) The portion of subsection 231.2(1) of the Act before paragraph (a) is replaced by the following: Requirement to provide documents or inf...

AI summary This text outlines changes to the Act regarding the requirement to provide documents or information, including modifications to subsections 231.2 and 231.5. The changes specify the Minister's authority to require information and the manner in which it must be provided, including under oath or affirmation.

whose role is to assist de l’eau. Cette loi constitue l’Agence canadienne de l’eau, dont le the Minister of the Environment in exercising or performing that rôle est d’assister le ministre de l’Environnement dans l’exercice Minister’s powe...

AI summary The text discusses amendments to various Canadian laws, including the establishment of the Canadian Water Agency and modifications to the Tobacco and Vaping Products Act. These changes involve regulations on fees, administration, and information disclosure.

e subject of a notification to the Commissioner of Competi- en prolongeant le délai de prescription pour les fusionne- tion and placing a temporary restraint on the completion of ments qui n’ont pas fait l’objet d’un préavis au commissaire...

AI summary The document outlines the Fall Economic Statement Implementation Act, 2023, which includes provisions related to merger regulations, anti-competitive conduct, and the Commissioner of Competition's authority to review past agreements.

it de l’aliénation des biens confisqués. Division 9 of Part 5 retroactively amends section 42 of the Feder- La section 9 de la partie 5 modifie rétroactivement l’article 42 de al-Provincial Fiscal Arrangements Act to specify the payments l...

AI summary This text discusses amendments to several acts, including the Federal-Provincial Fiscal Arrangements Act and the Public Sector Pension Investment Board Act. These amendments pertain to information publication requirements and the composition and consultation processes of the Public Sector Pension Investment Board.

Administration of oaths 39 Déclaration sous serment 40 Waiving the filing of documents 40 Renonciation DIVISION B SECTION B Registration Inscription 41 Requirement to register 41 Demande d’inscription 42 Application to register 42 Demande...

AI summary The text outlines administrative procedures related to registration, returns, and compliance under the Fall Economic Statement Implementation Act, 2023. It includes sections on registration requirements, application processes, de-registration, and the obligation to file returns.

ng Canada 118 Personnes quittant le Canada 119 Authorization to proceed without delay 119 Recouvrement compromis DIVISION Q SECTION Q Evidence and Procedure Procédure et preuve 120 Service 120 Signification 121 Timing of receipt 121 Date d...

AI summary The text outlines procedural and regulatory elements related to evidence, service, timing, and regulations. It includes sections on proof of service by mail, the incorporation of regulations, and the nature of certificates and registrations. These provisions are part of a broader regulatory framework.

tution 4 Head office 4 Siège 5 Minister to preside 5 Autorité du ministre 2021-2022-2023-2024 xv 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 16 of 546 Chapter 15: Fall Economic Statement Implementation Act, 2023 Chap...

AI summary The text outlines the structure and provisions of the Chapter 15: Fall Economic Statement Implementation Act, 2023, including sections on delegation to an agency, appointments, remuneration, and general provisions related to officers, employees, and government services.

)(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.

toute autre forme, à l’exception des sommes et montants suivants : (2) The portion of subsection 13(7.1) of the Act be- (2) Le passage du paragraphe 13(7.1) de la même fore paragraph (a), as enacted by subsection (1), loi précédant l’aliné...

AI summary This text references a legal provision, specifically subsection 13(7.1) of an Act, and discusses its replacement by a new provision. It is part of a regulatory or legislative amendment process.

d (11) Les paragraphes (2), (4), (7) et (9) sont répu- to have come into force on March 28, 2023. tés être entrés en vigueur le 28 mars 2023. 5 (1) Section 15 of the Act is amended by adding 5 (1) L’article 15 de la même loi est modifié pa...

AI summary The text discusses the coming into force of certain paragraphs on March 28, 2023, and the amendment of Section 15 of the Act by adding new content after subsection (2.5).

transac- (2) Le paragraphe (1) s’applique aux opérations tions that occur on or after January 1, 2024. se produisant après le 31 décembre 2023. 6 (1) The portion of subsection 18(4) of the Act 6 (1) Le passage du paragraphe 18(4) de la mêm...

AI summary This text outlines a regulatory change in the Act, effective January 1, 2024, modifying subsection 18(4) of the Act by replacing the portion before paragraph (a).

objets de l’opération, de l’événement ou de la 12(1)(l.2) of the Act, as enacted by subsection série était de reporter l’application de l’alinéa 2(1), or the application of section 18.2 or 18.21 of 12(1)l.2) de la même loi, édicté par le p...

AI summary The text discusses amendments to a legislative act, specifically adding definitions under sections 18.2 and 18.21. The changes pertain to the application of the act to taxpayers and are related to the regulation of certain provisions under the law.

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.

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.

la société affiliée était une société résidant au Canada, (3) Clause 95(2)(f.11)(ii)(A) of the Act is replaced (3) La division 95(2)f.11)(ii)(A) de la même loi est by the following: remplacée par ce qui suit : (A) this Act is to be read wi...

AI summary This text discusses the replacement of a clause in an Act, specifically Clause 95(2)(f.11)(ii)(A), and how it applies to foreign affiliates and partnerships. It outlines exceptions for determining income or loss for partnerships and the application of subsection 96(1) for foreign affiliates.

is replaced by the following: édictée par le paragraphe (4), est remplacée par ce qui suit : (A) this Act is to be read without reference to (A) la présente loi s’applique compte non tenu subsections 17(1), 18(4), 18.2(2) and 18.4(4) and d...

AI summary The text modifies subsections of an Act, specifically replacing references to certain subsections and amending a subparagraph. It outlines how the Act should be interpreted without reference to specific sections and adjusts the application of income or loss determinations for partnerships and foreign affiliates.

owing after paragraph (a): modifié par adjonction, après l’alinéa a), de ce qui suit :

AI summary The text provides a legal modification, adding content after a specific paragraph. It references a legislative amendment in French, indicating a regulatory change in Nova Scotia.

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.

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.

the day on (ii) dans les autres cas, de trois ans le jour où le for- which the form is filed; mulaire est produit; (8) Paragraph 152(4.01)(b) of the Act is amended (8) L’alinéa 152(4.01)b) de la même loi est modifié by striking out “or” at...

AI summary The text outlines amendments to the Act, specifically modifying paragraph 152(4.01)(b) by adding new subparagraphs (xi) and (xii), and adding content after subsection (4.3) of section 152. These changes pertain to the inclusion of new transaction types and events under the Act.

to have (6) Les paragraphes (2) et (4) sont réputés être come into force on March 28, 2023. entrés en vigueur le 28 mars 2023. 50 (1) Section 160 of the Act is amended by 50 (1) L’article 160 de la même loi est modifié par adding the follo...

AI summary This text outlines the amendment to Section 160 of the Act, adding provisions that come into force on March 28, 2023. The amendment involves the addition of specific content after subsection (1.4).

Part 211.92 (1) Les définitions qui suivent s’appliquent à la and in section 127.44. présente partie et à l’article 127.44.

AI summary The text provides a legal definition section from a regulatory proceeding document, referencing specific articles and sections applicable to the current part and article 127.44.

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.

o years after (ii) pour les deux cinquièmes du montant, deux an- that day, nées après cette date, (iii) for three-fifths of the amount, three years after (iii) pour les trois cinquièmes du montant, trois an- that day, nées après cette date...

AI summary The text discusses amendments to Section 227 of the Act, specifying different timeframes for the recovery of amounts based on fractions of the total amount, with varying periods ranging from two to five years after a specified date.

ions as the à 167 et la section J de la partie I s’appliquent alors, avec circumstances require. les adaptations nécessaires. (3) Subsections (1) and (2) apply in respect of (3) Les paragraphes (1) et (2) s’appliquent relati- payments aris...

AI summary This text outlines amendments to section 237.3 of the Act, specifically adding provisions after subsection (12), which apply to payments made on or after July 1, 2022. The language includes both English and French versions of the amendment.

action or series est identique ou presque identique à une opération ou that was the subject of une série qui a fait l’objet : (a) published administrative guidance or statements a) de directives administratives ou déclarations pu- made by...

AI summary This text outlines provisions related to administrative guidance and court decisions applicable to certain sections of the legislation, with specific application starting from January 1, 2024. It references several sections of Part I of the legislation and their applicability to subsections (5.1) and (5).

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.

d not to deal with each a) des personnes liées sont réputées avoir entre elles other at arm’s length; and un lien de dépendance; (b) it is a question of fact whether persons not related b) la question de savoir si des personnes non liées t...

AI summary This text outlines the legal definitions of 'related persons' under the Excise Act, 2001, and establishes the binding nature of the Act on the Crown. It discusses the determination of whether individuals are related or at arm’s length, emphasizing that this is a factual question.

services numériques Enactment of Act Édiction de la loi Section 96 Article 96 “pre-receivership period”, “receivership period” or l’article 24) valent mention de « période de pré- “pre-cease period”, as the case may be; faillite », « pério...

AI summary The text outlines legal definitions and modifications to terminology in a regulatory context, including the redefinition of terms such as 'pre-receivership period' and 'receivership period' to align with specific regulatory periods. It also modifies references to 'year' in certain sections to refer to 'period' instead.

(a) would, if this Act were read without reference to a) qu’elle entraînerait, directement ou indirectement, this section, result directly or indirectly in a misuse of s’il n’était pas tenu compte du présent article, un abus the provisions...

AI summary The text discusses the potential misuse or abuse of provisions under the Act, specifically in relation to the Digital Services Tax Regulations and other relevant enactments, if this section were not considered in their application.

General Provisions, Dispositions générales, Administration and application et exécution Enforcement Definitions Définitions 36 (1) The following definitions apply in this Part. 36 (1) Les définitions qui suivent s’appliquent à la pré- sent...

AI summary This section defines key terms under the Canada Revenue Agency Act, including 'Agency,' 'bank,' and 'business number,' providing legal clarity for administrative and enforcement purposes.

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.

ection. tant que l’entité constitutive donnée doit payer en raison de ce paragraphe. Rules applicable Règles applicables (3) If a particular constituent entity of a consolidated (3) Lorsqu’une entité constitutive donnée d’un groupe group a...

AI summary This section outlines rules applicable when constituent entities of a consolidated group become jointly and severally liable for part or all of another constituent entity's liability under the Act.

. suivant la demande par le ministre, elle communique à celui-ci par écrit les renseignements requis. Limitation on objections Restrictions touchant les oppositions (4) Despite subsection (1), if a person has filed a notice (4) Malgré le p...

AI summary This text outlines procedures for communicating required information to the Minister following a request, and includes provisions related to objections to assessments. It also references the Digital Services Tax Act and the Fall Economic Statement Implementation Act, 2023.

lendar year and the day on which quelle l’excédent a été payé, et se terminant à la date du remboursement. 2021-2022-2023-2024 304 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 323 of 546 Chapter 15: Fall Economic Stat...

AI summary This text outlines the process for extending the time to file a notice of objection to an assessment under the Digital Services Tax Act, if no objection has been filed within the time limited by the Act. The Minister may grant an extension upon application.

ing the appeal with respect to the particu- a) en rejetant l’appel en ce qui concerne cette ques- lar issue; or tion; (b) allowing the appeal with respect to the particular b) en admettant l’appel en ce qui concerne cette ques- issue and t...

AI summary The text outlines the possible outcomes of an appeal regarding a specific issue, including rejecting the appeal or allowing it with options to vary the assessment or refer it back for reconsideration. It also references the Fall Economic Statement Implementation Act, 2023 and the Digital Services Tax Act.

puta- cotisation, à la présentation d’un avis d’opposition à une tion of cotisation ou à l’interjection d’un appel : (a) the seven-year period referred to in subsection a) le délai de sept ans prévu au paragraphe 70(1); 70(1); b) le délai...

AI summary The text outlines procedures related to the time limits for filing objections and appeals against assessments, as well as provisions for referring common questions to the Tax Court of Canada. It specifies the seven-year period and other timeframes for objection and appeal, and describes the requirements for applications to the Tax Court.

ou de la Loi sur les Cours fédérales concernant les appels the determination. des décisions de la Cour canadienne de l’impôt. 2021-2022-2023-2024 311 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 Attachment 2 Page 330 of 546 Chapter 15:...

AI summary The text discusses the parties involved in appeals under the Digital Services Tax Act, specifying that those bound by a determination under subsection (4) are parties to any appeal from that determination.

i- ministre doit, sans délai, qu’un appel de la décision de la tuted, Cour ait été ou puisse être interjeté ou non : (a) where the assessment has been referred back to a) d’une part, réexaminer la cotisation et en établir the Minister, rec...

AI summary The text discusses the legal process related to reassessments and refunds under a tax law, referencing the Fall Economic Statement Implementation Act, 2023 and the Digital Services Tax Act. It outlines procedures for reassessments and refunds based on court decisions.

the tration, à moins que le poursuivant et le défendeur ne defendant agree that it may be instituted after the eight consentent au prolongement de ce délai. years. 2021-2022-2023-2024 321 70-71 Eliz. II – 1-2 Cha. III 2026-2027 GRA U-17 At...

AI summary The text includes legal language related to a proceeding, referencing a digital services tax act and a fall economic statement implementation act. It also includes a section number and a reference to a chapter in a legal document.

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.

of the court to which the appeal donnance, sauf ordonnance contraire d’un juge du tribu- is made. nal saisi de l’appel. Time period not to count Suspension du délai (6) If an application is commenced by the Minister under (6) Si la demande...

AI summary The text outlines procedural rules regarding the suspension of time periods in legal proceedings, particularly when an application is made by the Minister to order access, assistance, information, or records. The period between the filing of a notice of appearance or opposition and the final disposition of the application is not counted in the computation of the period for making an assessment.

pas dans le calcul du délai dans lequel, en vertu du para- under subsection 70(1), an assessment may be made. graphe 70(1), une cotisation peut être établie. Search warrants Requête pour mandat de perquisition 103 (1) A judge may, on ex pa...

AI summary The text discusses the legal process for issuing search warrants under subsection 70(1), allowing judges to authorize searches for evidence related to offenses under the Act, and the subsequent handling of seized items by the judge or another judge.

b) du délai dans lequel une cotisation peut être établie (b) the period within which an assessment may be en vertu de l’article 70. made under section 70.

AI summary The text refers to the period within which an assessment may be made under section 70, highlighting a procedural aspect related to assessments.

to anything relating to the ad- ce soit qui se rapporte à l’application et à l’exécution de la ministration or enforcement of this Act. présente loi. Appointment of hearing officer Nomination d’un président d’enquête (2) If the Minister, u...

AI summary This text outlines the appointment and powers of a hearing officer in the context of an inquiry authorized under the Act. It specifies that the Minister must apply to the Tax Court of Canada for the appointment, and the hearing officer has the powers of a commissioner under the Inquiries Act.

a commissioner by sections 4 and 5 of the Inquiries ceptibles de l’être par l’article 11 de cette loi. Act and that may be conferred on a commissioner under section 11 of that Act.

AI summary The text refers to the authority granted to a commissioner under sections 4 and 5 of the Inquiries Act, as well as any additional powers that may be conferred under section 11 of the same Act.

r court of the province or by cour supérieure de la province ou par un juge ou un fonc- a judge or official of the court. tionnaire de celle-ci.

AI summary The text references legal procedures in Nova Scotia, mentioning the court of the province and officials such as judges or court officials.

par voie de signification à personne, soit par tout autre mode ordonné par le juge. (a) personal service on the person; or (b) service in accordance with the directions, if any, of a judge. Application to judge for direction Demande d’inst...

AI summary This section outlines procedures for serving legal documents on individuals, including personal service or service as directed by a judge. It also provides for applications to a judge for further directions if service cannot be reasonably effected. Additionally, it mentions the right of a person to request a review of an authorization granted by a judge.

présent der this section in respect of a person, the person may, on article à l’égard d’une personne, celle-ci peut, après avis six clear days notice to the Deputy Attorney General of 2021-2022-2023-2024 348 70-71 Eliz. II – 1-2 Cha. III 2...

AI summary This text outlines the process for reviewing an authorization under the Fall Economic Statement Implementation Act, 2023. It specifies that an application for review must be made within six clear days to the Deputy Attorney General of Canada and subsequently to a judge of the court.

, ni d’attester la signature ou la qualité de la or official character of the person before whom the affi- personne en présence de laquelle l’affidavit a été souscrit. davit was sworn. Proof of documents Preuve de documents (9) Every docum...

AI summary This text outlines the legal provisions regarding the authentication of documents executed under the administration or enforcement of the Act by the Minister, Commissioner, or authorized officials, and their deemed status as official documents unless challenged.

electronic account. A notice or other communication compte électronique sécurisé. Un avis ou une autre com- is considered to be made available if it is posted by the munication est considéré comme étant rendu disponible Minister in the per...

AI summary The text outlines procedures for electronic communication by the Minister, requiring authorization for notices to be posted in a secure electronic account. It also references the Fall Economic Statement Implementation Act, 2023 and the Digital Services Tax Act.

negative amount — regulations Montant positif ou négatif — règlement 124 For greater certainty, 124 Il est entendu que : (a) in prescribing an amount under subsection 123(1), a) le gouverneur en conseil peut, en prenant une me- the Governo...

AI summary The text outlines that the Governor in Council has the authority to prescribe either a positive or negative amount under subsection 123(1), and to establish methods for determining such amounts that may result in positive or negative outcomes.

et la Loi sur la taxe sur les services numériques ont été versés ou payés, (2) Subsection (1) comes into force on the same (2) Le paragraphe (1) entre en vigueur à la date day as subsection 96(1) of this Act. d’entrée en vigueur du paragra...

AI summary This text outlines a legal provision where subsection (1) comes into force on the same day as subsection 96(1) of the Act. It also replaces section 263.02 of the Act with new wording.

on 96(1) of this Act. d’entrée en vigueur du paragraphe 96(1) de la présente loi. 125 (1) The portion of subsection 53(3) of the Act 125 (1) Le passage du paragraphe 53(3) de la before the formula is replaced by the following: même loi pré...

AI summary This text provides a legal reference to the Revised Statutes (R.S.) and mentions the replacement of a portion of subsection 53(3) of an Act with a new formula.

on 96(1) of this Act. d’entrée en vigueur du paragraphe 96(1) de la présente loi.

AI summary The text references the coming into force of paragraph 96(1) of an Act, likely related to regulatory or legislative procedures in Nova Scotia.

(2) L’article 150 de la même loi est modifié par ad- the following after subsection (4): jonction, après le paragraphe (4), de ce qui suit :

AI summary The text refers to a legislative amendment under Article 150 of the same law, adding content after subsection (4). This amendment is part of a regulatory proceeding in Nova Scotia.

Form of revocation Forme de la révocation (4.1) A revocation of an election made under subsection (4.1) La révocation d’un choix fait par un membre d’un (1) by a member of a closely related group and a corpora- groupe étroitement lié et un...

AI summary This section outlines the process for revoking an election made under subsection (1) by a member of a closely related group and a corporation, specifying the joint filing requirements, effective date, and submission to the Minister.

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.

re- (3) Les paragraphes 159.2(6) et (7) de la même loi placed by the following: sont remplacés par ce qui suit : Notice of revocation Avis de révocation (6) If the Minister revokes an authorization in respect of (6) Si le ministre révoque...

AI summary The text outlines the procedures for revoking an authorization for a cannabis licensee, including the requirement to notify the licensee and specify the fiscal month of revocation. It also addresses the implications of revocation taking effect before the end of a calendar quarter.

ment A, (b) in any other case, 0. b) sinon, zéro. 157 The portion of section 234.2 of the Act before 157 Le passage de l’article 234.2 de la même loi the formula is replaced by the following: précédant la formule est remplacé par ce qui su...

AI summary This text outlines amendments to a legislative act, specifically modifying section 234.2 and adding new sections after section 249. The amendments pertain to penalties for contraventions of certain sections of the Act, including the calculation of penalties using a formula.

Articles 162-163 SOR/2003-288; 2018, c. 12, s. 108; 2022, c. 10, s. 116 DORS/2003-288; 2018, ch. 12, art. 108; 2022, ch. 10, art. 116 Stamping and Marking of Tobacco, Règlement sur l’estampillage et le Cannabis and Vaping Products marquage...

AI summary This text outlines amendments to the Stamping and Marking of Tobacco, Cannabis and Vaping Products Regulations, specifically modifying section 3.6 to define prescribed information for regulatory purposes under the Act.

165 (1) L’alinéa 4(4)b) du même règlement est replaced by the following: remplacé par ce qui suit : (b) a person that has in their possession vaping excise b) la personne qui a en sa possession des timbres stamps only for the purpose of ap...

AI summary This text outlines amendments to regulations concerning vaping excise stamps, renumbering of sections, and the effective date of changes. The amendments specify that possession of stamps is limited to applying adhesive on behalf of the recipient and renumbers section 5.1 as 5.01.

follow- alinéas 453(2.2)b) et c) qui y sont édictés par ce ing: qui suit : b) assortir de conditions l’acquisition par la société, b) assortir de conditions l’acquisition par la société, en vertu du paragraphe (2.1), du contrôle d’une enti...

AI summary The text discusses provisions related to conditions on the acquisition of control or increases in interest in entities by a company, under a specific paragraph. It references legal sections and parts of a legislative document, including the Fall Economic Statement Implementation Act, 2023.

roupe financier dans une telle en- néa, d’un intérêt de groupe financier dans une telle en- tité. tité. 171 (1) Subsection 316(1) of the Act is amended 171 (1) Le paragraphe 316(1) de la même loi est by replacing the portion of the subpara...

AI summary This text discusses the amendment of subsection 316(1) of an Act, specifically modifying the portion of subparagraph 410(1)(c)(ii) to include activities related to information technology and financial services provided by the bank or its group entities.

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.

tivities SOUS-SECTION A Activités liées aux technologies de l’information Sections 177-180 Articles 177-180 b) prendre toute mesure d’ordre réglementaire b) prendre toute mesure d’ordre réglementaire concernant les circonstances dans lesqu...

AI summary The text discusses regulatory measures related to the acquisition of control or an increase in group financial interest in an entity by a bank holding company, referencing amendments to Section 327 of the Act in the French version.

de la même loi est modifié par remplacement de 441(4)(c) that it enacts with the following: l’alinéa 441(4)c) qui y est édicté par ce qui suit : c) prendre toute mesure d’ordre réglementaire c) prendre toute mesure d’ordre réglementaire co...

AI summary The text discusses amendments to legal provisions, specifically modifying subsections of an act related to regulatory measures and the handling of information under certain clauses. The changes pertain to the circumstances under which a company may conduct activities and the management of information.

cette société, en vertu de ce paragraphe, d’un intérêt de groupe financier dans une telle entité; de groupe financier dans une telle entité; c) prendre toute mesure d’ordre réglementaire c) prendre toute mesure d’ordre réglementaire concer...

AI summary This text discusses the amendment of Section 336 of the Act, specifically replacing paragraphs 554.1(a) and (b) in the French version. It outlines the authority of the company to take regulatory measures regarding the circumstances under which the company may acquire control of an entity or increase its financial group interest.

quisition ment dans quelles circonstances une telle acquisition ou augmentation est interdite; ou augmentation est interdite; b) assortir de conditions l’acquisition par la société de b) assortir de conditions l’acquisition par la société...

AI summary The text discusses amendments to subsection 337(1) of the Act, specifically modifying paragraphs 971(2.2)(b) and (c) to address conditions under which acquisitions or increases in ownership are restricted or subject to conditions.

Act is replaced by the (2) Le paragraphe 136(2) de la même loi est rem- following: placé par ce qui suit : Participation by electronic means Participation aux assemblées par moyen de communication électronique (2) Unless the by-laws provid...

AI summary The text outlines provisions for shareholder and member participation in meetings by electronic means, stating that if a bank provides such facilities, participants are deemed present for the purposes of the Act.

nication — téléphonique, électronique ou autre — per- mettant à tous les participants de communiquer 2021-2022-2023-2024 403 70-71 Eliz. II – 1-2 Cha. III Chapter 15: Fall Economic Statement Implementation Act, 2023 2026-2027Chapitre GRA U...

AI summary The text discusses provisions related to virtual meetings, ensuring all participants can communicate adequately during meetings, provided administrative regulations allow for such virtual assemblies.

Act is replaced by the (2) Le paragraphe 725(2) de la même loi est rem- following: placé par ce qui suit : Participation by electronic means Participation aux assemblées par moyen de communication électronique (2) Unless the by-laws provid...

AI summary The text amends a law to allow shareholders to participate in meetings electronically, provided the bank holding company makes the necessary communication facilities available. This amendment ensures that shareholders can adequately communicate during meetings through telephonic or electronic means.

re. Elle est alors réputée, pour l’application those means is deemed for the purposes of this Part to be de la présente partie, avoir assisté à l’assemblée. present at the meeting. Meeting held by electronic means Tenue d’assemblées par mo...

AI summary The text discusses the deemed attendance of shareholders at meetings held by electronic means, and modifies subsection 740(4) of the Act to reflect this change.

B Virtual Meetings SOUS-SECTION B Assemblées virtuelles Sections 191-193 Articles 191-193 Voting while participating electronically Vote en cas de participation par moyen de communication électronique (4) Unless the by-laws provide otherwi...

AI summary The text outlines provisions for electronic voting in shareholder meetings and amends a subsection of the Insurance Companies Act in French. It discusses the legal framework for voting via telephonic or electronic means and updates a regulatory provision.

Act is replaced by the (2) Le paragraphe 140(2) de la même loi est rem- following: placé par ce qui suit : Participation by electronic means Participation aux assemblées par moyen de communication électronique (2) Unless the by-laws provid...

AI summary The text modifies a provision of the law to allow shareholders and policyholders to participate in meetings electronically, provided the company makes such facilities available. Participants are deemed present for the purposes of the Act if they use these means.

ciété. Elle est alors réputée, pour l’application de those means is deemed for the purposes of this Act to be la présente loi, avoir assisté à l’assemblée. present at the meeting. Meeting held by electronic means Tenue d’assemblées par moy...

AI summary This text discusses the legal provisions for holding company meetings electronically, allowing directors, shareholders, or policyholders to conduct meetings via telephonic, electronic, or other communication methods, provided that the by-laws permit such arrangements and administrative regulations allow it.

t is replaced by 193 Le paragraphe 157(4) de la même loi est rem- the following: placé par ce qui suit : 2021-2022-2023-2024 405 70-71 Eliz. II – 1-2 Cha. III Chapter 15: Fall Economic Statement Implementation Act, 2023 2026-2027Chapitre G...

AI summary This text is part of a legislative amendment, specifically replacing a paragraph in a law related to virtual meetings under the Fall Economic Statement Implementation Act, 2023. The text includes legal references and chapter numbers, indicating a formal legislative process.

194 (1) Le paragraphe 764(1) de la version fran- the Act is replaced by the following: çaise de la même loi est remplacé par ce qui suit : Lieu des assemblées Lieu des assemblées 764 (1) Les assemblées des actionnaires se tiennent au 764 (...

AI summary This text outlines a legislative change regarding the location of shareholder meetings under the Act, specifying that they will be held in Canada at a place determined by administrative regulations or, if not specified, by the board of directors.

Act is replaced by the (2) Le paragraphe 764(2) de la même loi est rem- following: placé par ce qui suit : Participation by electronic means Participation aux assemblées par moyen de communication électronique (2) Unless the by-laws provid...

AI summary The text amends a provision related to shareholder participation in meetings via electronic means, ensuring that all participants can communicate adequately during the meeting. It states that participation through such means is deemed equivalent to physical attendance.

alors réputée, pour l’applica- one of those means is deemed for the purposes of this tion de la présente partie, avoir assisté à l’assemblée. Part to be present at the meeting. Meeting held by electronic means Tenue d’assemblées par moyen...

AI summary The text discusses the legal provisions related to the holding of meetings by electronic means, including requirements for communication facilities and the replacement of a subsection of the Act.

Act is replaced by 195 Le paragraphe 778(4) de la même loi est rem- the following: placé par ce qui suit : Voting while participating electronically Vote en cas de participation par moyen de communication électronique (4) Unless the by-law...

AI summary The text discusses amendments to a legal provision related to voting in shareholder meetings, particularly when participation is done electronically. It references the Fall Economic Statement Implementation Act, 2023, and includes sections about virtual meetings and federal financial institutions.

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.

concomitantes, cet article 204 est réputé être en- force before that section 6.1. tré en vigueur avant cet article 6.1. Coming into Force Entrée en vigueur 540th day or order in council Cinq cent quarantième jour ou décret 208 Sections 197...

AI summary This text outlines the coming into force of specific sections of an Act, referencing the 540th day after royal assent or an earlier date set by the Governor in Council. It also mentions the enactment of the Canada Water Agency Act.

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.

ice during pleasure for a l’Agence, à titre amovible, pour un mandat renouvelable renewable term of up to five years. d’au plus cinq ans. Chief executive officer Premier dirigeant 8 The President is the chief executive officer of the Agen-...

AI summary The text outlines the appointment of the President of the Canada Water Agency as the chief executive officer with a renewable five-year term and specifies that the President's remuneration is set by the Governor in Council. It also references the Fall Economic Statement Implementation Act, 2023, and includes legal references.

or entities that the Minister considers les personnes ou entités qu’il estime intéressées en l’oc- to be interested in the matter. currence. Remission Remise 42.11 (1) The Minister may, by order, remit all or part 42.11 (1) Le ministre peu...

AI summary The text outlines the process for remitting fees or charges under the legislation, including the possibility of conditional remissions and the cancellation of such remissions if conditions are not met.

the Act is replaced by the following: glaise de la même loi est remplacé par ce qui suit : (iii) the procedures for the nomination, selection (iii) the procedures for the nomination, selection and appointment of individuals to be members o...

AI summary This text outlines changes to the procedures for the nomination, selection, and appointment of individuals to the Stakeholder Advisory Council and Member Advisory Council, as well as the establishment of a nomination committee under the Act.

the Act is replaced by (4) L’alinéa 21.2(7)b) de la même loi est remplacé the following: par ce qui suit : 2021-2022-2023-2024 425 70-71 Eliz. II – 1-2 Cha. III Chapter 15: Fall Economic Statement Implementation Act, 2023 2026-2027Chapitre...

AI summary The text outlines amendments to the Canadian Payments Act, specifically replacing subsection 21.4(1) with new provisions. The changes involve the definition of individuals representing the interests of members or being represented by them.

(a) the conditions an entity must meet to become a participant in the designated payment system; participant in the designated payment system; 229 Section 49 of the Act is replaced by the fol- 229 L’article 49 de la même loi est remplacé p...

AI summary This text outlines legislative amendments, including the replacement of Section 49 of an Act and the requirement for a review of the Act on its fourth anniversary. It also specifies the coming into force of Sections 219 to 228 via a council order.

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 is replaced by (2) Le paragraphe 52.01(8) de la même loi est rem- the following: placé par ce qui suit : Application made under Part VII.1 Procédures en vertu de la partie VII.1 (8) No proceedings may be commenced under this sec- (8) A...

AI summary The text outlines amendments to legal procedures under Part VII.1, preventing proceedings based on identical or substantially similar facts to those already addressed in an order sought by the Commissioner. It also modifies subsection 67(4) of the Act to specify rules for corporate trials, regardless of the Criminal Code or other statutes.

the Act is replaced by the fol- 238 L’article 74.09 de la même loi est remplacé lowing: par ce qui suit : Definition of court Définition de tribunal 74.09 In sections 74.1 to 74.14 and 74.18, court means 74.09 Aux articles 74.1 à 74.14 et...

AI summary This text contains a legal amendment replacing parts of section 74.09 of an act, defining 'court' in different contexts, and modifying subsection 74.1(1). The changes specify which courts apply depending on the type of application, such as those made by the Commissioner or a person granted leave under section 103.1.

t may order comportement susceptible d’examen visé à la présente the person partie peut ordonner à celle-ci : (2) The portion of subsection 74.1(6) of the Act be- (2) Le passage du paragraphe 74.1(6) de la même fore paragraph (a) is replac...

AI summary This text outlines legal provisions regarding orders made against a person in respect of conduct that is reviewable under specific sections of the Act, defining what constitutes a subsequent order.

of the Act is replaced by (3) L’alinéa 74.1(6)c) de la même loi est remplacé the following: par ce qui suit : (c) in the case of an order in respect of conduct re- c) dans le cas d’une ordonnance rendue à l’égard du viewable under paragrap...

AI summary This text discusses amendments to section 74.1 of the Act, specifically replacing a subsection and adding new content after subsection (9). The changes relate to the conditions under which a person may be convicted under section 52 or paragraph 52(1)(a) of the Act.

tive des inconvénients, il est préférable de rendre l’or- (b) the balance of convenience favours issuing the or- donnance. der. Duration Durée d’application (2) Subject to subsection (5), an order made under sub- (2) Sous réserve du paragr...

AI summary The text outlines the conditions for issuing an order or extension under the regulatory process, emphasizing the balance of convenience and the requirement for at least 48 hours' notice for applications. It also references the role of the Commissioner and the court's discretion in determining the duration of the order.

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.

74.1(1)d), le tribunal peut prononcer une injonction pro- specified in the injunction. visoire interdisant à cette personne ou à toute autre per- sonne d’effectuer quelque opération à leur égard, notam- ment d’en disposer, si ce n’est de l...

AI summary The text outlines the legal requirements for applying for an injunction under subsection 74.1(1)d), including the need to specify conditions and the obligation to notify the Commissioner or authorized person of the application for an order under the specified paragraph.

he Act is replaced by (2) Le paragraphe 74.111(8) de la même loi est the following: remplacé par ce qui suit : Duty of Commissioner Obligation du commissaire (8) If an injunction issued under this section as the result (8) Lorsque l’ordonn...

AI summary The text outlines amendments to an act, including the replacement of a paragraph related to the Commissioner's duty when an injunction is issued and the addition of new content after a specific section. The changes focus on procedural obligations and legal modifications.

lowing 243 La même loi est modifiée par adjonction, after section 74.13: après l’article 74.13, de ce qui suit : Consent agreement — parties to a private action Consentement — parties privées 74.131 (1) If a person granted leave under sect...

AI summary The text discusses amendments to a law regarding consent agreements in private actions, including the requirement to file a consent agreement with the Tribunal and notify the Commissioner upon filing.

of the Tribunal. Tribunal, notamment quant à l’engagement des procé- dures. Commissioner may intervene Intervention du commissaire (6) On application by the Commissioner, the Tribunal (6) Le Tribunal peut, sur demande du commissaire, mo- m...

AI summary This text outlines provisions related to the Commissioner's ability to intervene in registered consent agreements and the requirement to provide notice to the parties involved. It specifies that the Tribunal may vary or rescind such agreements if they are not in line with the objectives of the relevant section.

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.

signifier une copie au commis- copy of it on the Commissioner within 10 days after the saire dans les dix jours suivant la date de sa conclusion. day on which it is entered into. Commissioner may intervene Intervention du commissaire (2) O...

AI summary The text outlines procedures for the Commissioner to intervene in agreements, including the ability to vary or rescind them if they conflict with the objectives of the Part, and the requirement to provide notice to the parties involved.

tu du paragraphe (1.2), préciser les conditions qu’il es- the order’s implementation, including a term time nécessaires à son exécution, notamment : (a) specifying how the payment is to be administered; a) prévoir comment la somme à payer...

AI summary The text outlines conditions for the implementation of an order, including administration of payment, appointment of an administrator, cost requirements, and notification of potential claimants as specified by the Tribunal.

d) exiger que les réclamants éventuels soient avisés the time and manner specified by the Tribunal; selon les modalités de forme et de temps qu’il précise; (e) specifying the time and manner for making claims; e) préciser les modalités de...

AI summary The text outlines procedural requirements for handling claims and unclaimed payments, including specifying the time and manner for making claims, establishing eligibility criteria for claimants, and detailing how unclaimed or undistributed payments should be handled.

the Tribunal considers ap- entre le demandeur et toute autre personne touchée par propriate. le comportement. Implementation of the order Exécution de l’ordonnance (11.2) The Tribunal may specify in an order made under (11.2) Le Tribunal p...

AI summary The Tribunal has the authority to specify terms necessary for the implementation of an order, including those referenced in paragraphs 75(1.3)(a) to (g). Subsection 77(3.1) of the Act is being replaced with new wording.

(2) L’article 79 de la même loi est modifié par ad- following after subsection (4): jonction, après le paragraphe (4), de ce qui suit : Additional order — person granted leave Ordonnance additionnelle — personne autorisée (4.1) If, as the...

AI summary This text modifies Article 79 of a law by adding a new subsection (4.1), which allows the Tribunal to order a person against whom an order is made to pay an amount, not exceeding the value of the benefit derived from the practice, to be distributed among the applicant and any other person affected by the practice.

ph (a) is replaced by the following: loi précédant l’alinéa a) est remplacé par ce qui suit : Order Ordonnance 90.1 (1) If, on application by the Commissioner or a 90.1 (1) Dans le cas où, à la suite d’une demande du person granted leave u...

AI summary The text discusses the amendment of section 90.1 of the Act, adding a new subsection following subsection (1), which outlines the Tribunal's authority to make orders regarding agreements or arrangements that prevent or lessen competition in a market.

Additional or alternative order Ordonnance supplémentaire ou substitutive (1.1) If, on an application under subsection (1), the Tri- (1.1) Dans les cas où, à la suite de la demande visée au bunal finds that an agreement or arrangement has...

AI summary This section outlines the authority of the Tribunal to issue additional or substitute orders when an agreement or arrangement is found to significantly hinder competition in a market and existing orders are unlikely to restore competition. The Tribunal may require divestiture of assets or shares as a corrective measure.

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.

de under b) d’une ordonnance rendue contre cette personne en section 76, 79 or 92. vertu des articles 76, 79 ou 92. (7) Section 90.1 of the Act is amended by adding (7) L’article 90.1 de la même loi est modifié par the following after subs...

AI summary The text amends Section 90.1 of the Act by adding a new subsection (10.1), which allows the Tribunal to order a person against whom an order is made to pay an amount not exceeding the value of the benefit derived from the conduct, to be distributed among the applicant and any other person affected by the conduct.

pond, dans tout marché pertinent, à la somme des carrés ket shares of the suppliers or customers. des parts du marché des fournisseurs ou des clients. Regulations — different values Règlements — valeurs différentes (5) The Governor in Coun...

AI summary The text discusses regulatory amendments related to market concentration and network effects, including the replacement of paragraph 93(g.1) and the addition of paragraph 93(g.4) to address changes in market share resulting from mergers.

about marché entraînée ou vraisemblablement entraînée par or is likely to bring about; le fusionnement réalisé ou proposé; (g.5) any likelihood that the merger or proposed g.5) la possibilité que le fusionnement réalisé ou pro- merger will...

AI summary The text discusses the limitation period for applications under section 92 of the Act, specifying that no application may be made more than one year after a merger has been substantially completed if it was the subject of a certificate request or notice, and more than three years for any other merger.

Act is replaced by (3) Le paragraphe 103.1(4) de la même loi est rem- the following: placé par ce qui suit : Application discontinued Rejet (4) The Tribunal is not to consider an application for (4) Le Tribunal ne peut être saisi d’une dem...

AI summary The text outlines amendments to the Act, specifically replacing subsection 103.1(4) and subsection 103.1(7), which relate to the Tribunal's consideration of applications and matters described in certain sections of the Act.

ng after subsection (7.1): adjonction, après le paragraphe (7.1), de ce qui suit : Granting leave — section 90.1 Rejet de la demande : article 90.1 (7.2) The Tribunal is not to consider an application for (7.2) Le Tribunal ne peut être sai...

AI summary This text discusses the modification of legal provisions related to granting leave under section 90.1, specifying that the Tribunal is not to consider applications relating to agreements with valid and registered certificates. It also outlines a replacement for subsection 103.1(8) of the Act.

(6) Le paragraphe 103.1(8) de la version anglaise the Act is replaced by the following: de la même loi est remplacé par ce qui suit : Time and conditions for making application Time and conditions for making application (8) The Tribunal ma...

AI summary This text discusses amendments to the Act, specifically replacing subsection 103.1(8) and (10), which relate to the time and conditions for making applications to the Tribunal regarding certain sections of the Act. The changes specify that applications must be made no more than one year after the practice or conduct in question has ceased.

he Act is replaced by (7) Le paragraphe 103.1(10) de la même loi est the following: remplacé par ce qui suit : Limitation Limite applicable au commissaire (10) The Commissioner may not make an application for (10) Le commissaire ne peut, e...

AI summary The text provides amendments to the Act, specifically replacing sections 103.1(10) and 103.2, which limit the Commissioner's ability to apply for certain orders based on previously alleged facts in a matter where leave has been granted.

dération par les cours supérieures en matières interlocu- toires et d’injonction. (2) Section 104 of the Act is amended by adding (2) L’article 104 de la même loi est modifié par ad- the following after subsection (1): jonction, après le p...

AI summary The text outlines amendments to a legislative act, specifically adding provisions regarding the effect of applications for interim orders in the context of proposed mergers, and modifying subsection 106.1(1) of the Act.

Matters Reviewable by a Court Affaires qu’un tribunal peut examiner Definitions Définitions Definitions Définitions 107.1 The following definitions apply in this Part: 107.1 Les définitions qui suivent s’appliquent à la pré- sente partie....

AI summary This section defines key terms related to court proceedings and reprisal actions under the relevant legislation, including the definition of 'court' and 'reprisal action' as actions taken to penalize or disadvantage someone for their communications with the Commissioner or cooperation in an investigation.

of the Act is replaced by (4) L’alinéa 110(4)b) de la même loi est remplacé the following: par ce qui suit : (b) the gross revenues from sales in, from or into b) le revenu brut provenant de ventes, au Canada, en Canada, determined for the...

AI summary This text modifies sections of a legislative act, specifically replacing parts of subsection 110(4)b) and the portion of subsection 110(5) preceding paragraph (a). The changes pertain to the determination of gross revenues from sales in Canada and the conditions under which these revenues exceed specified amounts.

of the Act is replaced by the 262 L’alinéa 113c) de la même loi est remplacé following: par ce qui suit : (c) a transaction in respect of which the Commission- c) une transaction à l’égard de laquelle le commissaire er or a person authoriz...

AI summary The text outlines amendments to the Act, specifically replacing sections related to the obligation to notify the Commissioner and supply information for transactions. The changes pertain to situations where similar information was previously provided in relation to a certificate request under section 102.

gatif important sur la capacité de l’autre partie d’ex- ploiter son entreprise. Transitional Provisions Dispositions transitoires Subsection 67(4) of the Competition Act Paragraphe 67(4) de la Loi sur la concurrence 267 Subsection 67(4) of...

AI summary This text discusses the transitional provisions under subsection 67(4) of the Competition Act, which applies only to corporations charged with an offence under that Act on or after the day this Act receives royal assent.

that Act that procédures visées au paragraphe 8.1(1) de cette commenced before that day. loi commencées avant cette date. 2021-2022-2023-2024 458 70-71 Eliz. II – 1-2 Cha. III Chapter 15: Fall Economic Statement Implementation Act, 2023 PA...

AI summary The text references legal procedures related to the Fall Economic Statement Implementation Act, 2023, including amendments to promote economic efficiency and adaptability. It also mentions sections of an act from 2010, chapter 23, and includes references to other legislation and legal procedures.

Consequential Amendment to An Modification corrélative à la Loi Act to promote the efficiency and visant à promouvoir l’efficacité et adaptability of the Canadian la capacité d’adaptation de economy by regulating certain l’économie canadie...

AI summary The text discusses a consequential amendment to an act aimed at promoting economic efficiency and adaptability by regulating activities that discourage reliance on electronic means for commercial activities. It references specific legal provisions and related legislation.

rrence Coming into Force Entrée en vigueur Sections 272-274 Articles 272-274 Coming into Force Entrée en vigueur First anniversary of royal assent Premier anniversaire de la sanction 272 Section 238, subsections 239(1) and (4), sec- 272 L’...

AI summary This text outlines the coming into force of specific sections of an Act on the first anniversary of royal assent. It references various legislative sections and their effective dates, as well as mentions the Public Post-Secondary Educational Institutions Act.

des activités terroristes ou au contournement de sanc- tions. Extension of time by Minister Prorogation du délai par le ministre 39.15 (1) If no request is made under section 39.14 39.15 (1) La personne, l’entité ou le propriétaire légi- w...

AI summary This section outlines the process for extending the time period for making a request under section 39.14 if no request is made within the initially provided period. The person, entity, or lawful owner may apply to the Minister for an extension.

par voie d’action à la Cour fédérale à titre de demandeur, the defendant. le ministre étant le défendeur. Ordinary action Action ordinaire (2) The Federal Courts Act and the rules made under (2) La Loi sur les Cours fédérales et les règles...

AI summary This text outlines the legal procedures for ordinary actions under the Federal Courts Act and the responsibilities of the Minister of Public Works and Government Services following a court decision.

plication du présent article, un avis de la later than 15 days after a day is fixed under subsection (2) requête et de l’audition. for the hearing of the application. Service of notice Signification de l’avis (4) The service of a notice un...

AI summary This section outlines the timeline and procedures for serving notice of an application, specifying that notice must be sent at least 15 days before the hearing and that registered mail addressed to the president is sufficient for service. It also defines 'court' in the context of the Province of Ontario as the Superior Court of Justice.

contravention ou de toute collusion à l’égard de celle- ci; (c) that the applicant exercised all reasonable care to ensure that any person permitted to obtain possession c) il a pris des précautions suffisantes concernant of the goods seiz...

AI summary This text outlines legal procedures related to appeals and contraventions under a regulatory framework, detailing conditions for appeals and requirements for declaring seized goods. It references legal sections and procedures for handling appeals from court orders.

nterjetés devant cette juridiction contre governing appeals to the court of appeal from orders or les ordonnances ou décisions du tribunal. judgments of a court. Definition of court of appeal Définition de cour d’appel (2) In this section,...

AI summary This text outlines legal procedures related to appeals to the court of appeal from orders or judgments of a court, and includes provisions regarding the restitution of goods after a final order has been issued.

Forces liées à une menace envers la sécurité du (d) the Office of the Superintendent of Financial Insti- Canada; tutions, if the officer also has reasonable grounds to suspect that the information is relevant to the exercise d) au Bureau d...

AI summary The text discusses the Office of the Superintendent of Financial Institutions in Canada and the conditions under which information may be relevant to the exercise of the Superintendent's powers and duties under the Office of the Superintendent of Financial Institutions Act.

ion to that government, institution or agency. à une infraction de financement des activités terroristes ou à une infraction de contournement de sanctions. Delegation Délégation Minister’s duties Pouvoirs et fonction du ministre 39.32 (1)...

AI summary This text outlines the delegation of powers and duties under the legislation, allowing the Minister and President to authorize officers or classes of officers to perform their functions, including judicial or quasi-judicial powers, under this Part of the Act.

activités terroristes Section 285 Article 285 Electronic Administration and Exécution et contrôle d’application par Enforcement des moyens électroniques Electronic administration and enforcement Exécution et contrôle d’application par des...

AI summary This section outlines the use of electronic means for administering and enforcing Part 39.34, allowing any person with conferred powers, duties, or functions to use electronic methods specified by the Minister.

moyens électroniques que le ministre met à sa disposi- tion ou précise. Authorization Autorisation (2) Any person who has been authorized to exercise any (2) Les personnes autorisées à exercer les attributions power or perform any duty or...

AI summary This text outlines the authorization for individuals to use electronic means for performing duties under the legislation, as well as the definition of providing information, which includes signing and submitting records or documents.

Regulations Règlements 39.38 (1) The Governor in Council may, on the recom- 39.38 (1) Sur recommandation du ministre, le gouver- mendation of the Minister, make regulations in respect of neur en conseil peut prendre des règlements portant...

AI summary This section of the regulations allows the Governor in Council, upon the Minister's recommendation, to create rules regarding electronic communications and technologies used in the administration and enforcement of this part of the law, including provisions for information delivery and electronic payments.

nner in which and the extent to which any sente partie, selon les instructions données par voie provision of this Part, or its regulations, applies to the électronique; electronic communications or electronic means, in- cluding electronic...

AI summary The text outlines provisions for the application of regulations to electronic communications and electronic means, including the establishment of classes and distinctions among them as per section 39.36.

(iv) the recovery, as a debt, of unpaid penalties and (iii) le paiement de la sanction imposée, any additional penalty to be paid in respect of those unpaid penalties; (iv) le recouvrement, à titre de créance, de toute sanction impayée et...

AI summary The text outlines provisions related to the recovery of unpaid penalties, the designation of individuals or classes of persons with respect to the scheme, and procedures for handling violations, including the commencement of proceedings.

e) concernant les procédures en violation, notamment (i) commencing the proceedings, en ce qui a trait à ce qui suit : (ii) the defences that may be available in respect of (i) l’introduction de la procédure, a violation, and (ii) les défe...

AI summary The text discusses procedures related to violations and offences, including the initiation of proceedings, available defences, and circumstances under which proceedings may be terminated. It also addresses the exclusion of violation proceedings and criminal proceedings when an act or omission is classified as both.

non, prévue par une loi fédérale dont l’application re- an offence; and lève du ministre de l’Environnement; (k) the Department of Fisheries and Oceans, if the k) au ministère des Pêches et des Océans, si en outre Centre also has reasonabl...

AI summary This text discusses legal provisions related to the Department of Fisheries and Oceans and the investigation or prosecution of offences under federal legislation. It outlines the circumstances under which information may be relevant to such investigations or prosecutions.

l’importation ou à l’exportation, ou de toute personne ou entité agissant pour leur compte; (7) Paragraph 55(7)(n) of the Act is replaced by (7) L’alinéa 55(7)n) de la même loi est remplacé the following: par ce qui suit : (n) indicators o...

AI summary The text outlines changes to the Act, specifically replacing paragraphs 55(7)(n) and 55(7)(q) with new content related to money laundering, terrorism financing, and sanctions evasion in the context of financial transactions, importation, and exportation.

une infraction de contournement de sanctions, ou à une infraction essentiellement similaire; (4) Subsection 55.1(3) of the Act is amended by (4) Le paragraphe 55.1(3) de la même loi est modi- striking out “and” at the end of paragraph (s),...

AI summary The text discusses amendments to subsections of an Act, specifically modifying paragraph (3) of subsection 55.1 and replacing subsections 56(1) and (2). The amendments involve the addition of new information related to reports under section 7.1 and the inclusion of new information in the replaced subsections.

290 (1) Les paragraphes 56(1) et (2) de la même replaced by the following: loi sont remplacés par ce qui suit : Agreements and arrangements Accord de collaboration 56 (1) The Minister may enter into an agreement or ar- 56 (1) Le ministre p...

AI summary This section of the legislation amends paragraphs 56(1) and (2) of the same law, allowing the Minister to enter into agreements with foreign governments or international organizations regarding exchanges with institutions or agencies under their jurisdiction.

tion de contournement de sanctions, ou à une infraction essentiellement similaire. Agreements and arrangements — Centre Accord de collaboration — Centre (2) The Centre may, with the approval of the Minister, (2) Le Centre peut, avec l’appr...

AI summary The Centre may enter into agreements with foreign institutions to exchange information relevant to money laundering, terrorist financing, or sanctions evasion offences, with the approval of the Minister.

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.

précédant le sous-alinéa (i) est remplacé par ce lowing: qui suit : (c) undertake measures to inform the public, persons c) prendre des mesures visant à sensibiliser le public, and entities referred to in section 5, authorities en- les per...

AI summary The text amends paragraph 58(1)(c) of the Act by removing 'and' at the end of subparagraph (ii.2) and adding a new subparagraph (ii.3) that requires measures to inform the public and relevant authorities about the nature and extent of sanctions evasion both inside and outside Canada.

k) régir les déclarations visées au paragraphe 12(1) et and the declarations referred to in section 39.02; and à l’article 39.02; 297 The portion of subsection 74(1) of the Act be- 297 Le passage du paragraphe 74(1) de la même fore paragra...

AI summary This text contains a legal provision in French and English, referring to the regulation of declarations under section 39.02 and the replacement of a portion of subsection 74(1) of an Act.

b) d’un décret ou d’un règlement pris en vertu de la tions Act; Loi sur les Nations Unies; 300 Subsection 204(2) of the Act is amended by 300 Le paragraphe 204(2) de la même loi est mo- replacing the subsection 81(2) that it enacts with di...

AI summary The text amends subsection 204(2) of an unspecified Act by replacing subsection 81(2) with a time limitation of eight years for proceedings under certain paragraphs. It also references consequential amendments to the Customs Act, specifically paragraph 107(3)(a).

led. (3) Le paragraphe 462.33(7) de la même loi est abrogé. 312 (1) Paragraph 487.018(1)(a) of the Act is re- 312 (1) L’alinéa 487.018(1)a) de la même loi est placed by the following: remplacé par ce qui suit : (a) the account number of a...

AI summary This text discusses the amendment of specific sections of a legal act, including the replacement of paragraph 487.018(1)(a) and the modification of the portion of subsection 487.018(2) preceding paragraph (b). It includes details about account numbers and identifiers associated with digital assets.

6 (1) Le conseil d’administration de l’Office se compose tors, including the Chairperson. de treize administrateurs, dont le président. (2) Subsection 6(2) of the Act is amended by (2) Le paragraphe 6(2) de la même loi est modifié adding t...

AI summary The document outlines amendments to the Act, specifically modifying subsection 6(2) and section 9. It adds provisions related to advisory committee members under various pension acts and introduces new subsections under section 9.

a) le ministre de l’Infrastructure et des Collectivités functions of the Minister of Housing; and exerce les attributions du ministre du Logement; (b) every reference to the Minister of Housing in any b) la mention du ministre du Logement...

AI summary This text outlines the functions of the Minister of Infrastructure and Communities and the Minister of Housing, specifying that references to the Minister of Housing in legislation and regulations apply to the Minister of Infrastructure and Communities unless the context indicates otherwise. It also details the general duties and powers of these ministers, including the ability to design, recommend, coordinate, and implement initiatives, programs, and projects.

analyser, interpréter, publier ou diffuser tout rensei- gnement. Committees Comités 12 (1) The Minister of Infrastructure and Communities 12 (1) Le ministre de l’Infrastructure et des Collectivités or the Minister of Housing, as the case m...

AI summary The document outlines the authority of the Minister of Infrastructure and Communities or the Minister of Housing to establish advisory committees and set their remuneration for performing duties and functions.

ieu de résidence habituel, conformé- formance of their duties and functions while absent from ment aux directives du Conseil du Trésor. their ordinary place of residence. Transitional Provisions Dispositions transitoires Deputy Minister So...

AI summary This text outlines transitional provisions related to the appointment of a Deputy Minister under the Department of Housing, Infrastructure and Communities Act, following changes in office titles and roles.

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.

structure et des Collectivités » dans la colonne II, en regard de ce secteur. 331 Schedule IV to the Act is amended by strik- 331 L’annexe IV de la même loi est modifiée par ing out the following: suppression de ce qui suit : Office of Inf...

AI summary The text outlines amendments to Schedule IV and Schedule VI of the Act, including the removal of 'Office of Infrastructure of Canada' and the addition of 'Department of Housing, Infrastructure and Communities' in alphabetical order.

prévue au paragraphe (2) est prolongée de vingt-six se- maines pour que ce nombre maximal soit atteint. (2) The portion of subsection 23(5) of the Act be- (2) Le passage du paragraphe 23(5) de la même fore paragraph (d) is replaced by the...

AI summary This text modifies subsection 23(5) of an Act by extending a provision for twenty-six weeks to reach a maximum number, and replaces a portion of the subsection preceding paragraph (d).

is replaced 348 (1) Le paragraphe 69(1) de la même loi est by the following: remplacé par ce qui suit : Réduction de la cotisation patronale : régimes d’assurance-salaire (a) the payment of any allowances, money or other 69 (1) La Commissi...

AI summary This text discusses the replacement of paragraph 69(1) of a law, focusing on the reduction of employer contributions in payroll insurance regimes, particularly in cases involving illness, injury, pregnancy, and child-related responsibilities.

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.

5.0 AUDIT AND OVERSIGHT The amounts charged through the FAM shall be subject to periodic audit to assure completeness and accuracy and to assure fuel and purchased power costs were incurred reasonably and prudently. The results of any audi...

AI summary The Fuel Adjustment Mechanism (FAM) amounts are subject to periodic audit to ensure accuracy and prudence in fuel and purchased power costs. Audit results are considered in subsequent FAM hearings or General Rate Cases, with the Board able to make necessary adjustments.

Timing of the Audit Audits are expected to commence in February of every second year or at such time as directed by the Board. Final reports will normally be filed by July 2 of every second year or on such other date as directed by the Boa...

AI summary Audits are scheduled to begin in February of every second year, with final reports due by July 2 of the same year. Draft reports are submitted to NS Power and the Board 30 days before the final report, containing task reports, summaries, and recommendations for cost adjustments and operational changes.

5.0 AUDIT AND OVERSIGHT The amounts charged through the FAM shall be subject to periodic audit to assure completeness and accuracy and to assure fuel and purchased power costs were incurred reasonably and prudently. The results of any audi...

AI summary The Fuel Adjustment Mechanism (FAM) amounts are subject to periodic audit to ensure accuracy and reasonableness of fuel and purchased power costs. Audit results may influence future FAM hearings, adjustments to existing balances, or General Rate Cases, based on findings.

Timing of the Audit Audits are expected to commence in February of every second year or at such time as directed by the Board. Final reports will normally be filed by July 2 of every second year or on such other date as directed by the Boa...

AI summary Audits are scheduled to begin in February of every second year or as directed by the Board, with final reports due by July 2 of every second year. Draft reports are submitted to NS Power and the Board within 30 days of final report filing, including findings and recommendations.

739,985 1,440,516 86.9% 1,251,238 6.61% 1,333,903 77.05% (12) SHORE POWER (13) GEN.REPL./LOAD FOLL. (14) ELIADC (15) BUTU (16) REAL TIME PRICING (17) EBS/RTR (17) SUB-TOTAL 19,510 15.7% 20,050 70,659 334.4% 47,779 15.04% 49,506 0.00% (18)...

AI summary The document presents a table with financial and operational data related to energy sales, generation, and demand for October 2026, including categories such as Shore Power, Generation Replacement/Load Following, and ELIADC. It also references a compliance filing for the 2026-2027 GRA and includes a redacted exhibit.

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

AI summary The document presents a detailed listing of Compliance and Oversight System (C.O.S.S.) input information for Nova Scotia Power Inc. for the year ending December 31, 2026, focusing on allocation factor information.

"Estimated Meter Read" "estimated meter read" means an estimation of electricity consumption as determined by Nova Scotia Power Incorporated; "Farming or Fishing Unit" "farming or fishing unit" means a farming or fishing business at one lo...

AI summary The text defines key terms related to electricity regulation in Nova Scotia, including 'Estimated Meter Read,' 'Farming or Fishing Unit,' 'Licenced Retail Supplier,' 'Load,' and 'LRS Participation Agreement,' emphasizing the role of Nova Scotia Power Incorporated and the Board in setting standards and agreements.

"Retail Supplier" "Retail Supplier" has the same meaning as under the Electricity Act, S.N.S. 2004, c. 25. "Retail Supplier Licence" "Retail Supplier Licence" means a Retail Supplier licence issued by the Board in accordance with the Elect...

AI summary The text defines key terms related to electricity regulation in Nova Scotia, including definitions for 'Retail Supplier,' 'RtR Customer,' 'Residential Customer,' 'Secondary metering,' 'Service line allowance,' 'Temporary electric service,' 'True Meter Read,' and 'Unmetered.' These definitions are provided in the context of the Electricity Act, S.N.S. 2004, c. 25.

"Retail Supplier" "Retail Supplier" has the same meaning as under the Electricity Act, S.N.S. 2004, c. 25. "Retail Supplier Licence" "Retail Supplier Licence" means a Retail Supplier licence issued by the Board in accordance with the Elect...

AI summary The document defines various terms related to electricity retail services in Nova Scotia, including 'Retail Supplier', 'RtR Customer', 'Residential Customer', 'Secondary metering', 'Service line allowance', and 'True Meter Read'. These definitions are based on the Electricity Act, S.N.S. 2004, c. 25, and regulations made thereunder.

In these regulations unless the context requires otherwise: "As Found Meter Test" "As Found Meter Test" is a test on the meter removed from a premise and tested at the Company's Measurement Canada certified test center in the condition in...

AI summary The document defines key terms in the regulations, including 'As Found Meter Test,' 'Board,' 'Company,' 'Customer,' and 'Demand.' These definitions establish the context for regulatory proceedings and operational standards within Nova Scotia's energy sector.

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 The document specifies that an annual maintenance permit is required for establishments to cover minor repairs, as outlined in sections 4(a) (B), (2), and (3) of the regulations under the Electrical Installation and Inspection Act.

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 The document specifies that an annual maintenance permit is required for establishments to cover minor repairs, as outlined in sections 4(a) (B), (2), and (3) of the regulations under the Electrical Installation and Inspection Act.

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., Chai...

AI summary The document pertains to a regulatory proceeding under the Public Utilities Act, involving Nova Scotia Power Incorporated's application for revisions to its rates, charges, and regulations. The proceeding is before a panel including Stephen T. McGrath (Chair), Roland A. Deveau (Vice Chair), and Steven M. Murphy (Member).

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 Inc. seeks approval for rate revisions under the Public Utilities Act. The proceeding involves intervenors including the Consumer Advocate, Small Business Advocate, and other groups. The Board members reviewing the application include Stephen T. McGrath, Roland A. Deveau, and Steven M. Murphy.

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.

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 acknowledges the difficulty of electricity rate increases for low-income customers but lacks authority to set special rates under the Public Utilities Act. NS Power filed a GRA proposing 1.8%-4.1% rate increases for 2026-2027, with residential rates rising more sharply. The Board emphasizes its role in recovering prudently incurred costs, while NS Power claims the application resulted from collaborative negotiations with customer representatives.

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) .

Approving and fixing rates, regulatory powers - 6 (1) In approving or fixing just and reasonable rates, tolls, charges or tariffs pursuant to this Act or any other enactment, the Energy Board may adopt any method or technique that it consi...

AI summary The Energy Board is authorized to approve rates and tariffs using appropriate methods, considering factors like competition, sustainability, and reliable energy supply. It regulates entities including the IESO, franchise holders, and the Halifax Water district energy project. Regulations may exclude entities from its jurisdiction, and approved rates must be publicly disclosed.

Jurisdiction of Board - 30 (1) A Board has exclusive jurisdiction in all cases and in respect of all matters in which jurisdiction is conferred on the Board. - (2) The Boards, as to all matters within their jurisdiction pursuant to this Ac...

AI summary The Nova Scotia Utility and Review Board (NSUARB) has exclusive jurisdiction over utility regulation, acting as a surrogate for competition in natural monopolies. Rate-setting uses a cost-of-service methodology to balance utility costs and fair rates for customers, as outlined in the Public Utilities Act (PUA). Legal precedents emphasize the Board's role in ensuring reasonable returns for utilities while protecting consumers.

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.

3.2.2.2 Fuel Manual and Hedging Plan [64] On page 29 of its application, NS Power stated: NS Power's currently approved version of the Confidential Fuel Manual, which sets out the requirements for fuel and purchased power procurement, is i...

AI summary NS Power submitted administrative updates to its Fuel Manual and Hedging Plan, including generic references to the Hedging Plan and minor language changes. The Board typically does not approve these documents but accepts them for informational purposes, with changes intended to extend beyond the prior rate stability period.

ffairs (Corporate Groups) $2,000,000; - Grid Modernization and Customer Integration (Customer Experience and Innovation) - $2,000,000; and - Corporate Human Resources (Corporate Groups) $2,000,000. [103] The Board directs that the above $8...

AI summary The Board mandates an $8M annual cost reduction for NS Power, applied alongside prior OM&G cuts, setting a reasonable cost envelope for 2026-2027. The Department of Energy requested an independent savings review under the Public Utilities Act, but the Board declined, prioritizing affordability concerns raised by the NDP, Liberal Party, and commenters.

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.

[121] As it relates to regulation of depreciation, s. 38 of the PUA states:

AI summary Section 38 of the Public Utilities Act (PUA) addresses depreciation regulation. This section is part of a Nova Scotia regulatory proceeding analyzing utility depreciation policies under the PUA framework.

Annual depreciation - 38 (1) Every public utility shall make provision for proper and adequate annual depreciation of its property and assets used and useful in furnishing, rendering or supplying each type or kind of service, and shall in...

AI summary Regulatory requirements mandate public utilities to apply proper annual depreciation methods (e.g., straight-line) for their assets, with the Board authorized to set, determine, and revise depreciation rates for different property classes. Utilities must report applied rates and conform to Board-determined rates.

Further, Sections 40 and 41 of the PUA state:

AI summary Sections 40 and 41 of the Public Utilities Act (PUA) are referenced, outlining provisions relevant to regulatory proceedings in Nova Scotia.

DDA, but the amortization of those costs remained to be determined. Therefore, in the interim there would have been no change to the revenue required from customers upon transferring costs to the DDA. [131] Further, in Matter M11220, NS Po...

AI summary NS Power proposed excluding thermal assets from its depreciation study to avoid near-term rate increases, citing potential federal funding for decarbonization. The Board agreed but suggested accelerating depreciation for certain assets. The DDA's amortization remains undetermined, with no immediate revenue changes.

3.4.1.3.2 Adjustments to Net Salvage Rates [167] Mr. Madsen completed a detailed review of the net salvage rates proposed in Appendix "A" of the settlement agreement. Based on this review, Mr. Madsen did not recommend any changes to the pr...

AI summary Mr. Madsen reviewed NS Power's proposed net salvage rates and found no need for adjustments, citing no directional bias in the rates and recommending a depreciation method change (ALG) that may require future reassessment. He advised waiting for the impact of depreciation adjustments before revisiting salvage rates.

3.4.1.3.3 Adjustments to Estimated Asset Average Service Lives [190] In his evidence, Mr. Madsen proposed a number of changes to Gannett Fleming's recommended estimated asset average service lives. This is discussed in more detail in secti...

AI summary The Board rejects Mr. Madsen's proposed changes to asset service lives but approves specific settlement agreement adjustments for Accounts 353 (Transmission Station Equipment) and 390.10 (General Plant Structures). These changes align partially with Mr. Madsen's recommendations and peer data, deemed appropriate for the current GRA.

was not that Gannett Fleming's use of simulated data is improper, but that placing significant weight on that simulated data, particularly combined with the ELG procedure, increases the risk of error. [208] While acknowledging that ELG is...

AI summary The text discusses a debate over depreciation methods (ELG vs. ALG) in utility regulation. Mr. Madsen argues that ALG provides a more prudent approximation of service value consumption when relying on simulated data, as ELG's sensitivity to simulated retirement curves risks overstating precision. The Board acknowledges this concern but clarifies that Madsen does not claim ALG is mathematically superior, only that ELG's reliance on simulated data increases error risks.

for the Board to decide is whether Mr. Madsen's recommendations are warranted. [246] During the hearing, Mr. Wiedmayer was questioned about the average service life changes recommended by Mr. Madsen: MEMBER MURPHY: This is my last question...

AI summary The proceeding examines a dispute over asset service life curves for transmission poles, with Mr. Madsen recommending a 50-R2.5 curve versus Mr. Wiedmayer's 45-R1.5. Member Murphy questions why the existing curve is preferred despite data misalignment after year 30, highlighting discrepancies in curve fitting and retirement data analysis.

for Nova Scotia Power. We're not looking at actual retirement data, which is why I need to assign the weight to the simulated data that I can, and in my opinion, I would not assign significant weight. Now again, if the simulated data was s...

AI summary Testimony discusses Nova Scotia Power's use of simulated data for asset lifespans, arguing it lacks alignment with actual retirement data and peer utility benchmarks. Mr. Madsen critiques NS Power's methodology, emphasizing inconsistencies and divergences from Atlantic Canadian peers.

continues to have today. As reported by NSPI in the application, this places NSPI in the bottom 10% of utilities in North America. The vast majority of utilities have credit ratings of BBB+ or higher. In the November 21, 2022 Research Upda...

AI summary Nova Scotia Power Inc. (NSPI) faced a credit rating downgrade by S&P due to Bill 212, which limited rate increases and was deemed a 'political intervention' by the regulator. The downgrade, from BBB+ to BBB-, was mitigated by Emera's parent company status. S&P warned further downgrades could occur if FFO:Debt consistently fell below 10%.

3.5.1.2.1 Findings [314] The approval of the potential securitization is not before the Board in this application. The sole issue in the present matter is whether the Board should approve the securitization deferral. NS Power asked for thi...

AI summary The Board did not approve securitization but considered deferring depreciation and financing costs of thermal assets until 2026. Securitization is blocked by unproclaimed statutory provisions. The Consumer Advocate doubts securitization's feasibility without provincial support, though customer representatives support eventual securitization.

nded on those, expanded on those here in the PHP application to try to give a bit more clarity as to what those items could potentially be. [Emphasis added] [Transcript, January 8, 2026, pp. 591-592] [346] The Industrial Group requests tha...

AI summary The Industrial Group requests the Board to confirm the limited scope of the PHP Deferral, excluding variables tied to PHP's ATL customer status and risks from Goose Harbour Wind Farm delays. Bates White supports NS Power's GRA assumptions, acknowledging uncertainties in PHP's tariff and ADC credits but deeming NS Power's approach reasonable under the Settlement Agreement.

3.5.1.5.1 Findings [357] NS Power's costs for preparing and presenting a general rate application have not previously been allowed to be recovered in the test period of that application because they represent costs incurred before the test...

AI summary NS Power's pre-test period costs cannot be recovered in general rate applications. The Board opposes deferring operating costs to attract returns, preferring normalization. Exceptions to retroactive ratemaking are outlined in Halifax Regional Water Commission 2026-2027 General Rate Application (M12257).

3.5.1.6 Payment of Interest on Deferral Accounts [362] The payment of interest to NS Power on its deferral accounts is subject to s. 64AB of the Public Utilities Act . In its 2023-2024 GRA Decision, the Board concluded that it was appropri...

AI summary The Nova Scotia Utility and Review Board (Board) determines interest rates on Nova Scotia Power Inc.'s (NS Power) deferral accounts under s. 64AB of the Public Utilities Act. The Board set interest at NS Power's WACC in its 2023-2024 GRA Decision and reaffirmed this approach in the 2025 DCRRC proceeding (M11912). A generic proceeding will address s. 64AB issues, with London Economics International LLC preparing a report.

3.6.1.1 Findings [367] NS Power's estimated capital investment for the GRA test period amounts to $671.3 million in 2026 and $556.1 million in 2027. The capital additions to rate base for the test period have generally been approved by the...

AI summary NS Power's capital investment forecasts for 2026 and 2027 are reviewed, with most projects approved by the Board. Discrepancies between GRA and ACE Plan projects are attributed to timing and asset management updates. The Board finds the total forecast spending reasonable, noting NS Power will align its capital program with the GRA forecast.

3.6.3 Valuation and "Writing Down" of the Rate Base [377] The Department of Energy requests that the Board take steps to ensure that NS Power's coal assets are written down by an amount that the Board deems appropriate based on a transpare...

AI summary The Department of Energy requests the Nova Scotia Utility and Review Board to write down NS Power's coal assets, arguing their value is over-inflated and ratepayers should not subsidize outdated infrastructure. The Department attributes this to NS Power's failure to conduct timely depreciation studies and imprudent investments post-2016, despite knowing coal assets must retire by 2030.

Power to determine value of property of utility - 30 (1) The Board may at any time, with the assistance of such engineers, accountants, valuators, counsel and others as it deems wise or advisable to employ, inquire into and determine the e...

AI summary The Nova Scotia Utility and Review Board (Board) has authority to assess utility property values using prudent original cost or prescribed methods, deducting depreciation. It mandates valuation of Nova Scotia Power Incorporated's assets by March 31, 2024, and setting differentiated return on equity (ROE) levels for capital assets to align investment incentives with ratepayer objectives.

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 Public utilities in Nova Scotia must provide the Board with maps, contracts, and reports to aid in property valuation and investigations. The Board retains authority to revise valuations and requires utilities to report property changes and file contracts promptly.

3.6.3.1 Findings [394] A utility is entitled to the opportunity to recover its prudently incurred costs in providing service and an opportunity to earn a reasonable profit – no more and no less. While the Board can disallow costs found to...

AI summary The Board affirms utilities' right to recover prudently incurred costs and earn reasonable profits, emphasizing that customers must bear legitimate costs. Investors require fair returns to fund infrastructure, and the Board cannot disallow costs to lower rates. This aligns with prior NSUARB decisions on rate applications.

[397] In essence: A public utility is obligated to provide services that are reasonably safe and adequate and is entitled to compensation therefor by the charging of rates that are not unjustly discriminatory and will provide the public ut...

AI summary Public utilities must provide safe, adequate services and earn fair rates to cover expenses and capital needs. The Supreme Court of Canada defined a fair return as equivalent to returns on alternative investments, emphasizing that low returns risk deterring investment, harming credit ratings, increasing borrowing costs, and limiting market access.

3.6.3.1.1 The Value of the Rate Base [399] The "value" of NS Power's rate base, as framed in the Department's submissions, is based on an historic concept that has been displaced by the widely accepted prudent original cost method for valu...

AI summary The document argues that Nova Scotia Power's rate base valuation should use the prudent original cost method, as mandated by the Public Utilities Act since 1943, rather than the Department's outdated approach. Two expert witnesses supported this method, and the Department failed to provide evidence or cross-examine them. Bonbright's 1988 work is cited as historical context.

test years. Depending on the extent of the decline, this could put significant upward pressure on the depreciation expense in the test years, and therefore the revenue requirement and proposed rates. [417] The complexity and uncertainty as...

AI summary The text discusses the impact of asset depreciation on revenue requirements and proposed rates, arguing that an alternative valuation method would lead to higher return on equity but has been rejected in favor of the prudent original cost method as per the Public Utilities Act.

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.

ROE and potentially a lower cost of debt than would be the case under a policy focused on the used and useful test. In the long run, the application of a lower ROE to the totality of a utility's rate base can be more beneficial to rate pay...

AI summary The Board discusses how a lower ROE can benefit rate payers by preventing over-investment by utilities like NSPI. Prudency reviews are emphasized to ensure investments are proper and avoid rate base inflation. Regulatory proceedings test utility investments to align rates with competitive market pricing rather than monopolistic pricing.

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 determining a fair return on utility investments, requiring the Board to balance consumer interests with ensuring returns comparable to alternative investments. The Supreme Court of Canada emphasized that a fair return must equate to what the utility would earn from other similarly attractive, stable, and certain investments.

ignificant drop in utility beta values during 2025, along with a smaller reduction in Canada's forecasted GDP growth. Higher forecasted long-term government bond yields partially offset these effects. [461] Board Counsel consultant, Dr. Cl...

AI summary The analysis discusses a significant drop in utility beta values and GDP growth in Canada, along with higher bond yields. Dr. Cleary, a Board Counsel consultant, argues that Canadian and U.S. utilities are overcompensated compared to market-determined equity costs. He emphasizes Canadian utilities are lower risk than U.S. counterparts, questioning the use of U.S. companies as comparators for NS Power.

, he considered the use of "traditional adjusted betas to be totally inappropriate". He submitted that, based on historical evidence, a range of reasonable estimates for betas was between 0.3 and 0.6. [483] Dr. Cleary noted that he has use...

AI summary The document discusses the use of CAPM models in a regulatory proceeding, focusing on beta estimates. Dr. Cleary argues for a beta of 0.45 based on historical averages, while Concentric uses higher betas from Bloomberg and Value Line. Adjustments for risk premiums and NS Power's debt spreads are also highlighted.

sked the NSUARB to conduct an independent review of the utility's state of preparedness before the storm. Many questioned why a rate increase should be considered in the circumstances. The Board said: - [14] Just prior to November 15, 2004...

AI summary The NSUARB was requested to review Nova Scotia Power Inc.'s preparedness for a 2004 storm that caused power outages. The public hearing was delayed due to the outages, and Premier John Hamm urged the Board to conduct an independent review under the Public Utilities Act to assess restoration program improvements.

tors, including the BCUC, the OEB, and the AUC, have acknowledged the need to use multiple methodologies in determining a fair return on equity. [Footnotes omitted] [Exhibit N-8, Appendix 10A, p. 33] [518] In addition to the inherent weakn...

AI summary Regulatory bodies (BCUC, OEB, AUC) acknowledge the need for multiple methodologies in determining return on equity (ROE). The Board evaluates conflicting expert models: Dr. Cleary's 6.8-7.9% (avg 7.6%) vs. Concentric's 9.0-10.0% (avg 9.4%). Neither meets the fair return standard; the Board concludes an appropriate ROE lies between these estimates, noting significant differences in U.S. data usage.

3.8 Cost of Service Study [561] Under the PUA , a utility is afforded the opportunity to recover its "reasonable and prudent" costs of providing service and a "just and reasonable" return on its rate base. The total amount of these costs a...

AI summary The section outlines the regulatory framework under the Public Utilities Act (PUA) for cost recovery and rate setting, emphasizing 'reasonable and prudent' cost recovery and 'just and reasonable' returns. It references the Nova Scotia Court of Appeal's decision in Dalhousie Legal Aid Service v Nova Scotia Power Inc. , which prohibits rate discrimination based on customer ability to pay, and highlights factors for grouping customers into classes.

Treatment of Battery Storage Battery storage is presently functionalized to transmission, but NS Power proposes that battery storage should be considered on a case-by-case basis to determine if the asset is primarily supporting a generatio...

AI summary NS Power proposes battery storage should be assessed on a case-by-case basis to determine if it primarily supports generation, transmission, or distribution. Current grid-scale batteries are argued to serve generation functions and should be classified based on system load factor.

e only outstanding issue that would be addressed in the future proceeding noted in the agreement was the use of the minimum system method beyond the test years in the current general rate application: - Q. So N-37, page 20 in the PDF, line...

AI summary The discussion focuses on future considerations of Cost-of-Service Study methods beyond the current General Rate Application, specifically the Minimum System method. Nova Scotia Power expects a standalone application in 2026, with parties not bound by prior positions, though avoiding redundant processes is anticipated.

ing the updated COSS would result in lower OATT costs per MW. This is false. As indicated above, the coincidence factors from 'Exhibit 9a Annual' are not relevant to the calculation of the OATT rates. As demonstrated above, the proposed OA...

AI summary NS Power disputes REI's claim that updating the Cost-of-Service Study (COSS) would lower OATT costs, asserting their OATT rate calculations are accurate and aligned with the 2024 stakeholder consultation. NS Power clarifies that COS inputs are not fully mirrored in OATT, with IESO Nova Scotia set to administer OATT post-implementation of the More Access to Energy Act .

3.10 Miscellaneous Charges and Regulations

AI summary The section '3.10 Miscellaneous Charges and Regulations' is under review, but no specific content or details are provided in the text. Further analysis of this section would require additional information or context.

fund period for endof-term variances, which is expected to reduce the volatility in rate impacts of DSM expenditure reallocations and better reflect the multi-year nature of DSM planning and spending. [688] The proposed DCRR framework adds...

AI summary The proposed DCRR framework introduces a BA2 component to allocate DSM expenditure variances over four years, reducing rate volatility and aligning with COSS. It ensures 100% DSM cost allocation by class, reflecting multi-year planning and spending. NS Power's stance in Matter M12521 supports this approach.

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.

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 Public Utilities Act, emphasizing stability and fairness. The 2024 amendment allows the Energy Board to approve alternative regulation methods, aligning with the Energy and Regulatory Boards Act's definition of 'alternative form of regulation.'

Interpretation 2 In this Act, unless the context otherwise requires, "alternative form of regulation" means a method of establishing just and reasonable rates, tolls, charges and tariffs by performance-based regulation, including earnings...

AI summary The document discusses NS Power's consideration of alternative regulation methods, including performance-based rate plans, while acknowledging implementation complexities. NS Power emphasizes the need to align with Nova Scotia's 2030 decarbonization goals and evaluate impacts on regulatory mechanisms like FAM and RES, as well as the role of IESO-NS.

M12451 – Nova Scotia Power Inc. – 2026 General Rate Application (GRA) The Board's March 25, 2026, decision in this matter approved NS Power's application, subject to certain changes and other directives. NS Power was directed to submit a c...

AI summary The Board approved NS Power's 2026 General Rate Application but raised concerns about the use of proration techniques in light of a recent cyberattack and the company's investment in AMI meters. NS Power submitted a compliance filing and responded to information requests from the Board.

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 document outlines the activation of reserves by the Transmission Provider during contingencies, including sources of reserves and the responsibility of Transmission Customers to address supply deficiencies within a specific timeframe. It references NPCC and NERC standards and defines the scope of reserve services.

1.0 GENERAL DESCRIPTION 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...

AI summary This document outlines the administration plan for Nova Scotia Power Inc.'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 through General Rate Applications or Board orders. Stakeholders may challenge the methodology and forecasts in formal proceedings, and the FAM accounts will be subject to audits.

5.0 AUDIT AND OVERSIGHT The amounts charged through the FAM shall be subject to periodic audit to assure completeness and accuracy and to assure fuel and purchased power costs were incurred reasonably and prudently. The results of any audi...

AI summary The Fuel Adjustment Mechanism (FAM) amounts are subject to periodic audits to ensure accuracy and prudence in fuel and purchased power costs. Audit results will be considered in subsequent FAM hearings or General Rate Cases, with the Board potentially adjusting existing balances or recovered amounts as necessary.

S Power Fuel Manual in the following specific areas (without limitation as to other areas determined to be relevant to effective and efficient fuel and energy procurement, management, and production): - Fuel and purchased power costs - Rev...

AI summary The audit scope includes reviewing fuel and purchased power costs, operational availability, contracts, hedging practices, and Base Cost of Fuel calculations by NS Power. Audits are scheduled every two years, with final reports due by July 2 of every second year. The auditor will meet with NS Power and stakeholders before finalizing the audit scope.

"Power" "power" means the time rate of generating or using electric energy, normally expressed in kilowatts; "Power factor" "power factor" means the ratio of real power, (kW) to apparent power (kVA) for any given load and time. Generally i...

AI summary The text defines key terms related to electricity regulation in Nova Scotia, including definitions for 'Power,' 'Power Factor,' 'Premises,' 'Primary Metering,' 'Public Road,' and 'Retail Supplier.' These definitions are part of a regulatory framework that governs electricity supply and distribution.

7.2.1 Permits and Inspections Permits and inspections will normally be of three types: - (a) Regular Permits and Inspections - (b) Annual Permits and Inspections - (c) Special Permits and Inspections

AI summary The document outlines three types of permits and inspections: Regular, Annual, and Special. This categorization provides a framework for managing and conducting inspections under the regulatory process.

Regulation 7.2 Schedule of Wiring Inspection Fees Page 3 of 5 The fee for a regular permit and the maximum number of inspection visits, with respect to an installation will be calculated, as follows.

AI summary This section outlines the calculation method for the fee associated with a regular permit and the maximum number of inspection visits for an installation under Regulation 7.2.

stomers up to $90 million over the 2026-2027 period, and which will be facilitated by an application to the Board for a financing order under section 35G of the Public Utilities Act, once proclaimed. As previously described, the process th...

AI summary NS Power requests the Board to initiate a GRA matter and process to implement a proposed rate agreement, which would take effect by January 1, 2026. The GRA is expected to reduce costs due to regulatory efficiencies and has been supported by customer representatives without the need for further evidence submission.

- [12] The Board's Regulatory Rules facilitate settlement discussions. The Board welcomes and appreciates the efforts of parties to, in good faith, settle issues, even where, as sometimes happens, a settlement cannot be ultimately achieved...

AI summary The document discusses the regulatory process for Nova Scotia Power Inc.'s 2026 General Rate Application, emphasizing the Board's support for settlement discussions and the extensive evidence already filed by NSPI and other parties before the hearing. It highlights that the settlement process is in the public interest and that the Board has thoroughly reviewed the material in advance of a decision.

[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 in this proceeding was reached after a full evidentiary hearing with extensive documentation, including expert reports, information requests, and public comments. The Board emphasizes its responsibility to ensure that the agreement's terms are just, reasonable, and in the public interest, and that only prudently incurred costs are approved.

M12451 – Nova Scotia Power Inc. – 2026 General Rate Application (GRA) – Confidential Undertaking This will acknowledge receipt of NS Power's general rate application dated September 18, 2025, for approval of certain revisions to its rates,...

AI summary The document acknowledges receipt of Nova Scotia Power's 2026 General Rate Application and outlines the procedural steps for the proceeding. It includes the assignment of panel members, the enclosed documents, and the approval of the Confidentiality Undertaking. The Board allows confidential treatment of certain evidence and sets a timeline for objections.

NOVA SCOTIA ENERGY BOARD 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

AI summary The Nova Scotia Energy Board is considering a rate application by Nova Scotia Power for revisions to its rates, charges, and regulations under the Public Utilities Act. The proceeding involves regulatory approval for changes impacting utility services in Nova Scotia.

NOVA SCOTIA ENERGY BOARD IN THE MATTER OF: The Public Utilities Act , RSNS 1989, c 380 as amended - and – IN THE MATTER OF: A General Rate Application by Nova Scotia Power Incorporated for approval of certain revisions to its Rates, Charge...

AI summary The Nova Scotia Energy Board is handling a proceeding under the amended Public Utilities Act, RSNS 1989, c 380, regarding Nova Scotia Power Incorporated's application for revisions to its rates, charges, and regulations.

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

AI summary The Department of Energy intends to participate in the proceeding, asserting oversight of energy resources via the Minister of Energy. It requests that all notices and information be directed to specified individuals.

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 handling a proceeding under the Public Utilities Act regarding Nova Scotia Power Incorporated's application for revisions to its rates, charges, and regulations. The application seeks approval for changes to its utility pricing structure.

IN THE MATTER OF THE PUBLIC UTILITIES ACT -and –

AI summary The text is the heading of a regulatory proceeding under the Public Utilities Act, indicating the legal context of the document. No further details or arguments are provided in the excerpt.

NS Power noted: The Board has previously stated in relation to settlement agreements: Where, as here, the Agreement is supported by representatives of all of the customer classes, the Board can have confidence that the Agreement is in the...

AI summary The Board acknowledges that settlement agreements supported by all customer classes provide evidence of public interest but emphasizes they are not determinative. It reiterates principles from past decisions, noting that extensive pre-hearing evidence and stakeholder input inform settlements. The Board views properly supported agreements as regulatory successes, not failures, while reserving the right to reject those not in the public interest.

y record. This record should clearly demonstrate to the Board that issues have been fully and appropriately addressed and satisfy the public that the application has been fully and carefully reviewed. As usual, Board staff and Board Counse...

AI summary NSP outlines the purpose of the issues list in its October 2025 submissions, emphasizing its role in identifying unresolved issues requiring evidence for the January 2026 public hearing. The NSUARB notes that standard review processes, including consultant engagement, cannot be eliminated despite NSP's collaborative agreement with customer representatives.

Residual Comments - 1. NS Power submitted that the express mention of pensions, executive compensation, and expenses shared with affiliates was of little or no relevance in the proceeding and should not be expressly set out as a focus in t...

AI summary NS Power argues that pensions, executive compensation, and shared affiliate expenses are irrelevant to the proceeding, while the Board disagrees but will remove explicit references. NS Power claims the NSIESO transition costs are irrelevant, focusing instead on a deferral mechanism. The Board asserts the transition's cost impact is relevant. NS Power contends section 6(2) of the Energy and Regulatory Boards Act does not require addressing all factors, but the Board insists these factors must be considered.

Conclusion While NS Power was the only party to explicitly comment on the issues included on the Draft Issues List, the Board notes that parties, such as the Kwilmu'kw Maw-klusuaqn Negotiation Office and the Assembly of Nova Scotia Mi'kmaw...

AI summary NSP was the sole party commenting on the Draft Issues List, but other groups expressed interest in affordability, reliability, and resiliency. The Board includes these issues in scope, tied to NSP's duty to provide safe and adequate service, but is legally bound by the Public Utilities Act and case law prohibiting rate waivers based on affordability.

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

AI summary Nova Scotia Power Incorporated has submitted a general rate application seeking approval for revisions to its rates, charges, and regulations under the Public Utilities Act. The proceeding involves regulatory review of proposed changes to utility pricing structures.

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., Chai...

AI summary This document pertains to a regulatory proceeding under the Public Utilities Act, involving Nova Scotia Power Incorporated's application for rate revisions. The proceeding is before a panel including Stephen T. McGrath (Chair), Roland A. Deveau (Vice Chair), and Steven M. Murphy (Member).

Request IR-31: - Referring to the potential decommissioning costs of Wreck Cove, Mersey, and Tusket, would NS - Power be opposed to future securitization of these amounts if they were required to be incurred - in the future? Please fully e...

AI summary The document asks whether NS Power would oppose future securitization of decommissioning costs for Wreck Cove, Mersey, and Tusket if they become necessary. The inquiry seeks clarification on NS Power's stance regarding potential financial strategies for managing these costs.

NOVA SCOTIA ENERGY BOARD IN THE MATTER OF: THE PUBLIC UTILITIES ACT - and - IN THE MATTER OF: 2026-2027 GENERAL RATE APPLICATION by NOVA SCOTIA POWER INCORPORATED INFORMATION REQUESTS To: Blake Williams Senior Director, Regulatory Affairs...

AI summary The Nova Scotia Energy Board is handling a 2026-2027 general rate application under the Public Utilities Act. Dr. Sean Cleary submitted an information request to Blake Williams of Nova Scotia Power Incorporated, dated October 21, 2025, with Crystal Henwood as the clerk of the board.

Question: - (a) Please confirm the approximate dates that the analysis included in Appendix 10A of the current NS Power 2026-2027 GRA application was conducted. - (b) Please confirm the approximate dates that the analysis included in Appen...

AI summary The questions seek confirmation of analysis dates from NSP and NSPML applications, and reasons for differences in ROE estimates and CAPM calculations, particularly focusing on beta estimates.

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.

NOVA SCOTIA ENERGY BOARD 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

AI summary The Nova Scotia Energy Board is considering a general rate application by Nova Scotia Power Incorporated under the Public Utilities Act for revisions to its rates, charges, and regulations.

NOVA SCOTIA ENERGY BOARD 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 INFORMATION...

AI summary The Nova Scotia Energy Board is handling a regulatory proceeding under the Public Utilities Act, involving Nova Scotia Power's request to revise its rates. Doane Grant Thornton LLP has issued information requests to Nova Scotia Power Inc., with responses due by November 5, 2025. Angie Brown of Doane Grant Thornton is the contact person.

NOVA SCOTIA ENERGY BOARD 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

AI summary The Nova Scotia Energy Board is considering a rate application by Nova Scotia Power Incorporated under the Public Utilities Act, seeking approval for revisions to its rates, charges, and regulations. The proceeding involves regulatory review of proposed changes to utility pricing structures.

NOVA SCOTIA ENERGY BOARD 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

AI summary The Nova Scotia Energy Board is considering a general rate application by Nova Scotia Power Inc. seeking approval for revisions to its rates, charges, and regulations under the Public Utilities Act. The proceeding involves regulatory review of proposed changes to utility pricing structures.

INFORMATION REQUESTS To: NS Power Mike Willett Director, Regulatory Finance From: Port Hawkesbury Paper LP ("PHP") Responses Due: November 5, 2025 Contact Person: David MacDougall McInnes Cooper P.O. Box 730 Purdy's Wharf Tower II 1300 – 1...

AI summary Port Hawkesbury Paper LP (PHP) submits an information request to NS Power, seeking responses by November 5, 2025. Contact details for PHP's legal counsel, McInnes Cooper, and NS Power's Director of Regulatory Finance, Mike Willett, are provided.

NOVA SCOTIA ENERGY BOARD 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

AI summary The Nova Scotia Energy Board is considering a general rate application by Nova Scotia Power Incorporated under the Public Utilities Act, seeking approval for revisions to its rates, charges, and regulations.

Request IR-6: - Please provide NS Power's reliability indices for 2019 to 2024 inclusive, including: - a) System Average Interruption Duration Index (SAIDI). - b) System Average Interruption Frequency Index (SAIFI). - c) Customer Average I...

AI summary The document requests NS Power to provide reliability indices (SAIDI, SAIFI, CAIDI, CAIFI) from 2019 to 2024, along with comparisons to other Atlantic Provinces and Electricity Canada.

Request IR-31: - Reference: Exhibit N-3 GRA Direct Evidence, Section 5 Fuel and Purchased Power, Figure 5-4 p. 31 - a) Please explain why shifting sulphur dioxide compliance limits from 2025-2029 to 2030- 2034 does not require future custo...

AI summary The text requests an explanation from NS Power regarding the financial implications of shifting sulphur dioxide compliance limits from 2025-2029 to 2030-2034, including the impact on revenue requirement, compliance costs, and mitigation factors related to coal phase-out and other assumptions.

Request IR-60: - Reference: Exhibit N-6(ii), Corporate Office of Secretary and General Counsel - With respect to the reasons given for the following significant projected increases for 2026 over 2024 actuals: - a) Consulting and Ext Legal...

AI summary The document requests explanations for projected cost increases in consulting, legal audit, and insurance, including delays in CRA litigation, cost breakdowns, and a cost/benefit analysis. It references NS Power's Tax Court of Canada appeal and Board Order M10431.

Request IR-113: - Reference: Exhibit N-8, Appendix 10A, Cost of Capital Report, page 18 of 87 - Concentric states "For many years, consumer prices in Canada increased by less than 2.0 percent." Please state the years before 2021 that Conce...

AI summary Request IR-113 seeks clarification on Canada's inflation trends, the Bank of Canada's target range (1-3%), and CPI comparisons with the U.S. It questions whether historical inflation (pre-2021) and recent figures (2023-2025) align with targets, challenges a statement about inflation being 'above target,' and requests confirmation of CPI stability.

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.

Request IR-151: - Reference: Exhibit N-8, Appendix 13C - NS Power provides the following details for 2024: - Approximate number of opt-out customers is 18,140; - Approximate number of completed manual meter readings is 100,000; - Approxima...

AI summary NS Power's 2024 data shows discrepancies with its 2025 cost projections, including lower opt-out customers and manual meter readings. The regulator requests an explanation for these differences.

NOVA SCOTIA ENERGY BOARD IN THE MATTER OF: THE PUBLIC UTILITIES ACT - and - IN THE MATTER OF: 2026-2027 GENERAL RATE APPLICATION by NOVA SCOTIA POWER INCORPORATED PUBLIC REDACTED INFORMATION REQUESTS To: Nova Scotia Power Inc. Blake Willia...

AI summary The Nova Scotia Energy Board is handling a 2026-2027 general rate application by Nova Scotia Power Incorporated under the Public Utilities Act. Bates White LLC is requested to provide responses by October 22, 2025, regarding public redacted information. Blake Williams and Vincent Musco are key contacts for Nova Scotia Power and Bates White, respectively.

The matrix setting out the specific IRs by intervenor and by category of confidentiality is set out below. Information Request Confidentiality Reason BW IR-001 PCON (1) BW IR-007 Att 01 PCON (1) BW IR-007 Att 05 CONF (1) Information Reques...

AI summary The text presents a matrix listing information requests (IRs) by intervenor and confidentiality category, with references to specific confidentiality reasons. It includes a variety of IRs from different intervenors and associated confidentiality classifications.

ons in profit while charging some of the highest power rates in the country. Meanwhile, household incomes are stagnant, people's data has been breached, and trust in the utility is at an all-time low. Already this winter, families have bee...

AI summary The document highlights Nova Scotia Power's high profit margins and elevated power rates amid stagnant household incomes and energy affordability crises. Evidence suggests measures like energy efficiency, reduced coal reliance, and revised rate calculations could alleviate pressure on residents. Efficiency Nova Scotia's 2023 study found 43% of households spend over 6% of income on energy. Dr. Sean Cleary advocates for a lower rate of return for Nova Scotia Power, while the Board's lawyer, Bill Mahody, questions billing accuracy. Exhibit N-77 proposes a cost-of-service methodology to fairly distribute rate increases.

earing, to estimate rate increases using a cost-of-service methodology that is less biased against residential customers, so that Nova Scotian households don't bear an outsized burden of any increase. In closing, the Nova Scotia NDP Caucus...

AI summary The Nova Scotia NDP Caucus opposes a utility rate increase application, arguing that the proposed cost-of-service methodology unfairly burdens residential customers. They urge the Board to adjust rates, reconsider cost allocation, and address the utility's ownership structure. They highlight the financial strain on Nova Scotian households, with half already struggling to afford energy costs.

sic customer method. Switching to a basic customer method to determine cost of service, as recommended in a recent decision in Connecticut (Exhibit N-44), could reduce the increase faced by customers. As the Board is aware, this applicatio...

AI summary Nova Scotia Power seeks an 8% rate increase over two years, but stakeholders argue that serial increases burden customers. The Board is urged to adopt multi-year rate structures, citing Section 64A(2B) of the Public Utilities Act. Evidence shows customer financial strain, including arrears and disconnections, following prior rate hikes and storm recovery charges.

ic Utilities Act to order staged or multi-year general rate increases. We encourage the Board to approve five-year rate increases moving forward, to provide stability and predictability for customers. The Board also heard evidence concerni...

AI summary The document advocates for five-year rate increases to ensure customer stability, highlights billing instability from Nova Scotia Power's cybersecurity incident, and criticizes the utility's ongoing reliability failures. It argues that systemic issues in planning, risk allocation, and governance require an independent review to restore public confidence and ensure fair rate decisions.

operations, governance, and long-term planning is warranted. Such a review would provide transparency, restore public confidence, and ensure that future rate applications are grounded in credible planning, accountability, and service outco...

AI summary The letter calls for a regulatory review of Nova Scotia Power's (NSP) operations and governance to ensure transparency and accountability. It urges the Board to limit rate increases, implement a five-year rate plan for stability, and address NSP's management failures that have burdened ratepayers with excessive costs.

36 The Board's Approach to Settlement Agreements 37 38 Although the Board was created by legislation passed in 2024, it has inherited much of the statutory 39 framework and jurisprudence that guided the predecessor Board. The UARB had a we...

AI summary The NSUARB's approach to settlement agreements is based on inherited principles from the predecessor UARB. The 2022 General Rate Application by Nova Scotia Power was resolved via a Settlement Agreement, with the Board referencing a 2008 decision outlining settlement principles.

mmary of the COSS process, including the rationale for all proposed modifications to the existing COSS, in Exhibit N-9, Appendix 12A. With respect to stakeholder engagement, NS Power states at page 7: "An extensive exchange of information...

AI summary NS Power details its stakeholder engagement process for the COSS, including 67 models, 152 data requests, and extensive documentation in appendices. The process involved discussions with stakeholders, customer representatives, and experts, focusing on Nova Scotia Power's cost-of-service history and the Path to 2030 energy system transformation.

BEFORE THE NOVA SCOTIA ENERGY BOARD IN THE MATTER OF The Public Utilities Act, R.S.N.S. 1989, c.380, as amended -and - IN THE MATTER OF A General Rate Application by Nova Scotia Power Incorporated for approval of certain revisions to its R...

AI summary The Nova Scotia Energy Board is considering Nova Scotia Power Incorporated's general rate application (M12451) for 2026-2027 revisions to rates, charges, and regulations. The Department of Energy, Government of Nova Scotia, submitted closing arguments under the Public Utilities Act, R.S.N.S. 1989, c.380.

vidence, as required by the Board, to support its rate request. Interested parties and Board Staff asked NSPI many hundreds of written questions (Information Requests), to which responses were filed. All of the parties who chose to do so f...

AI summary NSPI submitted evidence for a rate request, responding to numerous information requests from the Board and other parties. All parties filed evidence, including expert testimony, before the hearing, ensuring the Board is well-informed for its decision on approving the Agreement.

- 32. NS Power's extended period without delivering a depreciation study raises a material issue as to whether NS Power obtained higher-than-appropriate returns because of these delays, particularly considering the concerns noted respectin...

AI summary The Department criticizes NS Power for delaying the submission of depreciation studies, arguing that this may have resulted in excessive returns to the utility and higher rates for ratepayers. The Department emphasizes that regulatory requirements, including coal phase-out by 2030, should have been reflected in asset valuations, and that depreciation studies should be updated in line with industry benchmarks and regulatory best practices.

Why asset valuation accuracy matters now more than ever. - 49. Across both Canada and the United States, regulators have recognized that the energy transition can strand assets. Evidence shows that newer, cleaner technologies have rendered...

AI summary Regulators in Canada and the US recognize that energy transition can strand assets, particularly coal. NS Power's coal units are becoming uneconomic due to rising costs and cleaner technologies, necessitating valuation reviews. Alberta's 2006-2013 writedowns and Nova Scotia's 2012 Stranded Asset Disclosure Act (Bill No. 98) highlight sector-wide awareness. A 2012 Board decision (2012 NSUARB 133) assigned stranded cost responsibility to MEUs under certain conditions.

Interest on deferred liabilities - 106. In the last NS Power GRA, matter M10431, the Department requested that the Board reject NS Power's request for creation of a Decarbonization Deferral Account in part because of the lack of any curren...

AI summary The Department opposes NS Power's request to defer expenses and financing costs at WACC, arguing that section 64AB of the Public Utilities Act mandates the Bank of Canada policy rate plus 1.75% for regulatory deferrals. NS Power seeks interim deferral at WACC pending securitization, but the Department emphasizes legislative compliance. The Board previously allowed a Decarbonization Deferral Account (DDA) with the default legislated rate in M11220.

Cyber Attack - 111. The cyber-attack resulted from circumstances within NS Power's operational control, yet ratepayers bear the financial and operational consequences, including billing uncertainty and potential financial exposure. - 112....

AI summary A cyber-attack on NS Power led to billing uncertainties and financial risks for ratepayers. The Department argues NS Power, as a regulated monopoly, must adhere to strict cybersecurity and service standards under the Public Utilities Act . Investigations are called for into billing practices, consumer protections, and financial relief. NS Power claims not to seek cost recovery, but ratepayers may bear indirect costs. The Board is urged to address accountability and transparency.

1) The Board's Approach to Settlement Agreements The Board has long encouraged collaborative, good-faith settlement processes as a means of narrowing issues, reducing regulatory burden, and improving outcomes for ratepayers. A settlement d...

AI summary The Board emphasizes settlement agreements as a means to streamline regulatory processes and ensure fair rates. It evaluates settlements based on factors like stakeholder involvement, alignment with public interest, and reasonableness of proposed rates, referencing past cases like Nova Scotia Power Inc. (Re) (2008 and 2023).

of the GRA negotiations, the revenue requirements were available and with the additional information, the parties satisfied themselves on the COS in the 2026-2027 GRA subject to three specific items: - (a) use of the Minimum System methodo...

AI summary Parties to the GRA negotiations agreed on revenue requirements and cost of service for 2026-2027, but three unresolved issues remain: (a) future determination of Minimum System methodology use, (b) PHP's responsibility for High Voltage transmission costs, and (c) apportionment of Maritime Link assessment costs. These will be addressed in future proceedings.

ppendix 8F, Letter from the Province of NS, page 651. [ 47 ](#page-10-11) As amended by the Energy Reform (2024) Act , SNS 2024, c.2, assented to April 5, 2024. proposed change may be submitted to the Board, which may take evidence and giv...

AI summary The Industrial Group supports the proposed securitization, arguing it is in the public interest and protects ratepayers and the utility. They emphasize the Board's role in recommending, not directing, measures under the Energy Reform (2024) Act.

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.

ct a settlement agreement it did not consider to be in the public interest, however, it should be understood that a properly supported settlement is a success of the regulatory process, not a failure. The Board decisions considering settle...

AI summary The document discusses the regulatory process surrounding a settlement agreement for NS Power and Eastward Energy, emphasizing that properly supported settlements are successes of the process. The Consensus Agreement from August 2025 addresses Cost of Service (COS) and revenue requirements for 2026-2027, with future methodology changes subject to a 2026 Board proceeding.

Nova Scotia Energy Board IN THE MATTER OF The Public Utilities Act, R.S.N.S. 1989, c.380, as amended - and - IN THE MATTER OF an Application by Nova Scotia Power Incorporated for Approval of Certain Revisions to its Rates, Charges, and Reg...

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

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.

asset class, and specifically by unit, all of which are subject to regulatory review. DATE FILED: January 30, 2026 Page 25 of 55 M11220 Decision, page 4, paragraph 2.

AI summary The document discusses the regulatory review of coal asset book values, referencing M11220 Decision, page 4, paragraph 2, filed on January 30, 2026. It highlights the subjectivity of asset valuations under regulatory oversight.

demand-related category. The result is that less cost responsibility is assigned to the Domestic class thereby lowering the overall rate increase for 2026 and 2027. However, as shown in the undertaking, this method poses a negative impact...

AI summary The document discusses the potential impact on the GRA if PHP remains below-the-line, the expected deferral mechanism, and financial figures like $18.2M and $5.7M. It highlights the need for a deferral mechanism due to uncertainty in PHP's tariff treatment and the significance of load changes from the Goose Harbour Lake wind project.

DATE FILED: January 30, 2026 Page 41 of 55 1 3.10 Cost of Capital and Capital Structure 27 Standard) were established by the Supreme Court of Canada in Northwestern Utilities v. City of 28 Edmonton (1929) SCR 186 (Northwestern), where the...

AI summary The text discusses the legal framework for determining a fair return on capital investment, referencing the Supreme Court of Canada's decision in Northwestern Utilities v. City of Edmonton (1929) and its reaffirmation in Ontario (Energy Board) v Ontario Power Generation Inc. It outlines the principle that a company should receive a return comparable to other investments with similar stability and certainty.

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.

4.2 Multi-year and Performance Based rate plans detailed consideration would be appropriate. NS Power agrees that multi-year and performance-based rate plans warrant consideration. In theory, these plans could assist with providing for mor...

AI summary NS Power acknowledges the potential benefits of multi-year and performance-based rate plans for predictable rate increases but highlights implementation complexities. The discussion includes regulatory regime improvements, decarbonization goals, and the role of IESO-NS in altering existing mechanisms like FAM and regulatory responsibilities.

5.0 CLOSING The process NS Power undertook to prepare and file this GRA was robust, inclusive, and transparent, resulting in the consensus application put forward for the Board's consideration. In NS Power's view, achieving alignment on th...

AI summary NS Power asserts the GRA process was robust and transparent, leading to a consensus application. The Board has a comprehensive evidentiary record, including consultant analyses and a Settlement Agreement, enabling informed decisions. NS Power acknowledges the Board's efforts during Nova Scotia's energy transition.

Nova Scotia Energy Board IN THE MATTER OF The Public Utilities Act, R.S.N.S. 1989, c.380, as amended - and - IN THE MATTER OF an Application by Nova Scotia Power Incorporated for Approval of Certain Revisions to its Rates, Charges, and Reg...

AI summary The Nova Scotia Energy Board is handling a proceeding under the Public Utilities Act, R.S.N.S. 1989, c.380, regarding Nova Scotia Power Incorporated's application to revise its rates, charges, and regulations. The document outlines the legal context and the nature of the regulatory request.

DATE FILED: February 6, 2026 Page 3 of 37 1 accordingly. The Board cannot, however, make rate decisions based solely on 2 reliability issues or current public opinion of the Utility. There are appropriate 3 sanctions a regulator can impose...

AI summary The NSEB emphasizes that rate decisions cannot be based solely on reliability issues or public opinion. Sanctions for inadequate service typically involve higher expenditures, not cost reductions, and generally do not include a moratorium on rate increases in a regulated utility environment.

9 Similarly, in the 2022-2023 GRA Decision, the Board held: 10 The Board is keenly aware that electricity rates are already challenging for many 11 customers and any rate increase will be difficult, especially for those with low or 12 fixe...

AI summary The Board emphasizes that it cannot set special rates for low-income customers or override NS Power's reasonable costs under the Public Utilities Act. Affordability concerns must be addressed through regulatory tools like deferrals, but these have long-term cost trade-offs. The Board's decisions stress adherence to utility regulation principles over political or social considerations.

1 The Liberal Caucus Closing Submission states: 2 Nova Scotia Power attempted to rush through this application as quickly as 3 possible. On January 9th, Nova Scotia Power's senior director of regulatory affairs, 4 Blake Williams testified...

AI summary The Liberal Caucus criticizes Nova Scotia Power for delaying the General Rate Application despite knowing financial unsustainability by 2025, leading to increased customer costs. Blake Williams, NSP's senior director, testified about the delayed filing.

11 NS Power's response: - 12 The GRA process began with the fulsome Cost-of-Service-Study (COSS) process initiated in - 13 December of 2023 and this aspect of the GRA continues today with these submissions. NS Power - 14 also engaged subst...

AI summary NS Power defended its GRA process, emphasizing that it was thorough and involved extensive consultation with customer representatives, leading to significant customer savings. It refuted claims that the process was rushed or led to higher costs, citing a Settlement Agreement and savings of approximately $60 million. The Liberal Caucus criticized the utility's approach to rate applications and highlighted its forecasting capabilities.

DATE FILED: February 6, 2026 Page 7 of 37 1 2 3 4 to order staged or multi-year general rate increases. We encourage the Board to approve five-year rate increases moving forward, to provide stability and predictability for customers. 5 NS...

AI summary The text discusses the proposal for staged or multi-year general rate increases to provide stability and predictability for customers. NS Power explains that its GRAs are forward-looking and based on anticipated costs, but agrees that greater certainty is important and remains open to discussing changes to the regulatory framework.

10 DOE Closing Submission, page 11. 1 However, the DOE's position is entirely without merit for the following reasons: 22 23 24 25 26 27 28 29 30 31 32 These goals have resulted in an economic and social arrangement dubbed the "regulatory...

AI summary The DOE argues that its position is without merit, emphasizing the 'regulatory compact' that ensures fair pricing for customers while granting utilities exclusive rights to serve specific areas. This arrangement balances the interests of customers and investors, with the Board responsible for maintaining a fair tariff structure.

39 added in original] 1 This return must be in addition to NSPI's prudent and proper operating 2 expenses of providing the services. Section 45(2) states: 3 45(2) Such return shall be in addition to such expenses as the Board may 4 allow a...

AI summary The text discusses the importance of recovering prudent and proper operating expenses for NSPI, emphasizing the need for a fair return on rate base to ensure service sustainability. It references the regulatory compact and mentions the Board's decisions, including M04972 and M10431, highlighting the role of the Department of Energy in recent proceedings.

DATE FILED: February 6, 2026 Page 17 of 37 1 2 3 the parties in this proceeding have suggested that NS Power is not entitled to recover such costs. (emphasis added) 4 As is demonstrated by the foregoing, the ability of NS Power to recover...

AI summary The document discusses the ability of NS Power to recover capital investment in coal assets within electricity rates, referencing legal precedents and the Public Utilities Act (PUA). It notes that the recovery of capital is consistent with common law and the PUA, and that this has been confirmed by the Board in past proceedings. It also references the Alberta Utilities Commission (AUC) and a recent decision in Alberta that ended the UAD line of decisions.

- 1 REI's "Suggested action/changes" - 2 As demonstrated above, the proposed OATT rate calculations are accurate and consistent with the - 3 approved methodology. The OATT calculation process has been revised to better align with the - 4 C...

AI summary NS Power defends the accuracy of OATT rate calculations aligned with COS through COSS stakeholder input, rejecting REI's request to make COS determinative of OATT. NS Power also argues against REI's call for more precise fuel cost forecasts, citing the Plan of Administration (POA) as sufficient. Future OATT administration by IESO Nova Scotia is noted.

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.

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. It operates as a statutory entity with powers limited to those explicitly or implicitly granted by legislation. Legal principles from cases like Re Nova Scotia Power Incorporated [2018 NSUARB 45] and ATCO Gas [2006] SCC 4 emphasize that the Board's jurisdiction must align with legislative intent and cannot exceed statutory boundaries.

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.

Approving and fixing rates, regulatory powers - 6 (1) In approving or fixing just and reasonable rates, tolls, charges or tariffs pursuant to this Act or any other enactment, the Energy Board may adopt any method or technique that it consi...

AI summary The Energy Board is authorized to approve rates and tariffs using appropriate methods, considering factors like competition, sustainability, and reliability. It regulates entities including the Independent Energy Systems Operator and Halifax Water's district energy project, while adhering to legislative frameworks such as the Public Utilities Act and More Access to Energy Act .

Jurisdiction of Board - 30 (1) A Board has exclusive jurisdiction in all cases and in respect of all matters in which jurisdiction is conferred on the Board. - (2) The Boards, as to all matters within their jurisdiction pursuant to this Ac...

AI summary The Nova Scotia Utility and Review Board (NSUARB) has exclusive jurisdiction over utility regulation, acting as a surrogate for competition in natural monopoly sectors. Rate-setting balances utility costs with fair customer rates, guided by the Public Utilities Act (PUA) and judicial precedents like Dalhousie Legal Aid Service v Nova Scotia Power Inc. (2006 NSCA 74). The Board ensures utilities recover reasonable costs while maintaining financial stability.

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 Regulatory framework dictates public utilities' annual earnings based on the Board's determination of a 'just and reasonable' return on the rate base. The Board may require amortization fund contributions, reducing allowable earnings. Legal references emphasize the Board's discretion under the Public Utilities Act (PUA) and its public interest mandate, citing court cases like Nova Scotia (Attorney General) v NSUARB (2019 NSCA 66) and Nova Scotia (Public Utilities Board) v Nova Scotia Power Corporation (1976).

[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 outlines its principles for approving settlement agreements in rate proceedings. The Board emphasizes that settlement agreements, when supported by all customer classes and based on thorough evidence, are in the public interest. The Board ensures that only fair and prudently incurred costs are approved, and that customer rates remain just and reasonable.

3.1.1 Findings [41] As noted above, the NSUARB has considered settlement agreements in past matters. The Board appreciates the efforts of parties to resolve contested issues in matters coming before it and encourages such initiatives to co...

AI summary The NSUARB acknowledges the value of settlement agreements but emphasizes they must be just and in the public interest. While recognizing efforts to resolve disputes, the Board notes this settlement occurred before the application was filed, reducing its evidentiary weight. The Board approves some terms but requires amendments to ensure fair rates.

3.2 Fuel and Purchased Power [45] Fuel and purchased power expenditures are direct pass-through costs paid by NS Power's customers. Under the Fuel Adjustment Mechanism (FAM), those costs are identified as the Base Cost of Fuel (BCF). Actua...

AI summary Fuel and purchased power costs are pass-through expenses managed via the Fuel Adjustment Mechanism (FAM), with adjustments through Actual Adjustment (AA) and Balance Adjustment (BA) riders. NS Power provides regular updates, and an independent auditor appointed by the Board conducts biennial audits reviewed in public proceedings.

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 Operating, Maintenance and General Costs

AI summary This section discusses Operating, Maintenance and General (OM&G) costs, a critical component in utility regulatory proceedings. It likely addresses cost structures, recovery mechanisms, and compliance with Nova Scotia's energy regulations, involving entities like Nova Scotia Power Inc. and the Nova Scotia Utility and Review Board.

rs of comment received by the Board. While the Board seriously considered the Department of Energy's request, it has decided, for reasons that follow, that such a review should not occur at this time.

AI summary The Board received and considered comments on the Department of Energy's request for a review but has determined that such a review should not proceed at this time, citing unspecified reasons.

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 the Interpretation Act ensures their continued validity through replacement provisions. This legal interpretation preserves regulatory continuity by aligning the regulations with current legislative frameworks.

[121] As it relates to regulation of depreciation, s. 38 of the PUA states:

AI summary Section 38 of the Public Utilities Act (PUA) addresses the regulation of depreciation, though specific details of its provisions are not elaborated in the provided text.

Annual depreciation - 38 (1) Every public utility shall make provision for proper and adequate annual depreciation of its property and assets used and useful in furnishing, rendering or supplying each type or kind of service, and shall in...

AI summary Regulations require public utilities to calculate annual depreciation using straight-line or prescribed methods, report rates to the Board, and comply with the Board's determined rates, which can be revised as needed.

Further, Sections 40 and 41 of the PUA state:

AI summary The text references Sections 40 and 41 of the Public Utilities Act (PUA), which are relevant to the regulatory proceeding. These sections likely outline legal frameworks or obligations for utilities or regulatory processes in Nova Scotia.

Regulations respecting depreciation 40 The Board may also prescribe rules, regulations and forms of accounts regarding depreciation which a public utility is required to observe, carry into effect and follow.

AI summary The Nova Scotia Utility and Review Board (NSUARB) is empowered to establish rules, regulations, and account forms related to depreciation that public utilities must adhere to. This authority ensures standardized depreciation practices across the sector, aligning with regulatory oversight of utility operations in Nova Scotia.

ed upon retirement. Therefore, while not directing accelerated depreciation of those particular assets at that time, the Board directed NS Power to include these assets in its next depreciation study. [133] In the current GRA, NS Power has...

AI summary The NSUARB directs NS Power to include specific assets in its depreciation study, though not accelerating depreciation on retiring assets. NS Power's GRA includes updated depreciation rates for non-DDA assets (e.g., Lingan, Tufts Cove) but excludes DDA-covered assets (Point Aconi, Trenton). Proposed depreciation expenses are $385.2M annually, reduced to $365.7M via settlement agreement considerations.

concern. [159] This notwithstanding, Mr. Madsen supported NS Power's proposal to exclude these decommissioning costs from the proposed depreciation rates. In coming to this determination, he stated: … it is important to remember that the c...

AI summary NS Power proposes excluding Wreck Cove, Mersey, and Tusket hydro system decommissioning costs from depreciation rates due to uncertainty about salvage costs and public interest concerns. Mr. Madsen supports this, citing low likelihood of full asset salvage. NS Power acknowledges intergenerational equity concerns but argues the exclusion ensures just and reasonable rates until cost certainty is achieved.

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 NSUARB 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, which significantly reduces costs compared to Gannett Fleming's study. The Boreas archaeology report outlines the methodology for archaeological cost estimation.

3.4.2 Calculation of Depreciation Expense (ELG vs. ALG) [192] As noted previously, NS Power's updated depreciation study has used the Equal Life Group procedure to calculate proposed depreciation rates. NS Power has used the ELG procedure...

AI summary NS Power uses the Equal Life Group (ELG) method for depreciation, recommended by Gannett Fleming, which assigns varying depreciation rates based on asset retirement patterns. The Alternative Life Group (ALG) method uses a single average service life for all assets. Both methods aim to depreciate the same total investment over an asset's life, though periodic charges may differ.

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.

Depreciable Group Steam Production Plant Nameplate Capacity Rating, MW Year in Service Probable Retirement Year Life Span Lingan Units 1 Lingan Units 2 Lingan Units 3-4 Point Aconi Point Tupper Trenton 5 Trenton 6 Tufts Cove 1 Tufts Cove 2...

AI summary The Department requests the Board to review the 'Probable Retirement Year' column in the context of existing legislation and government policy, highlighting the need for alignment with current regulations and strategic directions.

ow 10% in both 2026 and 2027. If the Board were to further direct NS Power to make the asset service life adjustments recommended by Mr. Madsen, these metrics would degrade further but only nominally. [276] As Pelino Colaiacovo of Morrison...

AI summary The Board considers adjusting asset service life and ALG depreciation to lower rates but warns of increased credit risk, potentially leading to a 'junk' rating for NS Power. Despite rate benefits, the Board concludes credit risks and uncertainty around DDA securitization outweigh advantages, thus withholding ALG depreciation for the current GRA but requiring an updated study for future applications.

3.5 Regulatory Deferrals

AI summary Discusses regulatory deferrals, including mechanisms for deferring costs, recovery processes, and oversight by the Nova Scotia Utility and Review Board (NSUARB). Highlights the role of the NSUARB in ensuring compliance with regulatory frameworks and stakeholder interests.

continues to have today. As reported by NSPI in the application, this places NSPI in the bottom 10% of utilities in North America. The vast majority of utilities have credit ratings of BBB+ or higher. In the November 21, 2022 Research Upda...

AI summary NSPI's credit rating was downgraded by S&P due to Nova Scotia's Bill 212, which limited rate increases and was deemed a political intervention. This caused a 'strong' business risk rating and reduced financial risk to 'aggressive', lowering NSPI's standalone rating to BB+. As a subsidiary of Emera, NSPI retained BBB-. S&P's 2025 report reaffirmed BBB- with a caveat tied to FFO:Debt metrics.

3.5.1.2.1 Findings [314] The approval of the potential securitization is not before the Board in this application. The sole issue in the present matter is whether the Board should approve the securitization deferral. NS Power asked for thi...

AI summary The Nova Scotia Utility and Review Board (NSUARB) considers whether to approve a deferral of depreciation and financing costs for thermal assets under the Decarbonization Deferral Account (DDA), as NS Power requested due to delayed securitization. Securitization is blocked by unenacted provincial regulations. The Consumer Advocate doubts securitization's feasibility, but customer representatives support it long-term.

3.5.1.5.1 Findings [357] NS Power's costs for preparing and presenting a general rate application have not previously been allowed to be recovered in the test period of that application because they represent costs incurred before the test...

AI summary NS Power's pre-test period general rate application costs cannot be recovered in the test period and should be budgeted separately. The Board opposes deferring operating costs to attract returns, citing prior decisions. Exceptions to retroactive ratemaking require specific criteria, as outlined in referenced cases.

3.5.1.6 Payment of Interest on Deferral Accounts [362] The payment of interest to NS Power on its deferral accounts is subject to s. 64AB of the Public Utilities Act . In its 2023-2024 GRA Decision, the Board concluded that it was appropri...

AI summary The Nova Scotia Utility and Review Board (NSUARB) determines interest rates on NS Power's deferral accounts using its Weighted Average Cost of Capital (WACC) under s. 64AB of the Public Utilities Act. This follows the 2023-2024 GRA Decision and a 2024 DCR Rider decision (M11912), with the Board planning a generic proceeding to further address s. 64AB issues. London Economics International LLC is engaged to prepare a report.

3.6.3 Valuation and "Writing Down" of the Rate Base [377] The Department of Energy requests that the Board take steps to ensure that NS Power's coal assets are written down by an amount that the Board deems appropriate based on a transpare...

AI summary The Department of Energy requests the NSUARB to write down NS Power's coal assets, arguing their value is over-inflated and ratepayers shouldn't bear outdated infrastructure costs. They cite imprudent investments and failure to adjust depreciation studies post-2016, aligning with the 2030 coal phase-out.

d be followed to establish the DDA. As with the "black box" settlement in 2011 this had the effect of mitigating the rate impact for customers at the time by avoiding the acceleration of depreciation. [392] In its reply submissions in this...

AI summary NS Power argues that the UAD decisions and principles from Alberta's 'Stores Block' case do not apply outside Alberta, citing the 2023 Alberta Court of Appeal decision. It also contends that the Smyth v Ames case is irrelevant to current proceedings, as it pertains to U.S. railroad rate regulation. NS Power asserts its coal assets are not stranded and remain in use, challenging the Department's reliance on UAD and DDA frameworks.

3.6.3.1 Findings [394] A utility is entitled to the opportunity to recover its prudently incurred costs in providing service and an opportunity to earn a reasonable profit – no more and no less. While the Board can disallow costs found to...

AI summary The Board affirms that utilities must recover prudently incurred costs through customer rates, with reasonable profit, and cannot disallow legitimate costs to make rates more affordable. Investors require fair returns to fund infrastructure, and this principle was previously addressed in NS Power's 2023 general rate application (NSUARB 2023 NSUARB 12).

[397] In essence: A public utility is obligated to provide services that are reasonably safe and adequate and is entitled to compensation therefor by the charging of rates that are not unjustly discriminatory and will provide the public ut...

AI summary Public utilities must provide safe and adequate services, compensated through non-discriminatory rates ensuring revenue for operating expenses, depreciation, taxes, and capital needs. The Supreme Court of Canada emphasized fair returns on capital investment to attract investment and maintain credit ratings, with low returns risking higher borrowing costs and market exclusion.

3.6.3.1.1 The Value of the Rate Base [399] The "value" of NS Power's rate base, as framed in the Department's submissions, is based on an historic concept that has been displaced by the widely accepted prudent original cost method for valu...

AI summary The document argues that the prudent original cost method, as outlined in the Public Utilities Act, is the correct approach for valuing NS Power's rate base, displacing the Department's historic concept. Expert witnesses supported this method, and the Department failed to provide evidence or cross-examine them. The Public Utilities Act (s. 30(2)) explicitly endorses this approach since 1943.

is added] [pp. 11-12] [407] More recently, NARUC's publication for the United States Agency for International Development, Depreciation Expense: A Primer for Utility Regulators (May 2021), states: The value concept for determining regulato...

AI summary NARUC's primer discusses the value concept for regulatory depreciation, highlighting its impracticality due to the burden and uncertainty. The approach is criticized for requiring annual estimates that are difficult to apply monthly and affected by technological changes.

[410] The NSUARB's decision in M11067 (2024 NSUARB 59) outlined how NS Power's property is valued under the Public Utilities Act : - [8] Subsection 30(2) of the Act contemplates that the value of NS Power's property and assets is determine...

AI summary The NSUARB's decision in M11067 outlines that NS Power's property is valued under the Public Utilities Act using net book value (prudent original cost minus depreciation) with straight-line depreciation per s. 30(3). Annual reports in regulated financial statements (e.g., M11090) detail accounting policies for property, plant, and equipment.

gnized by Christine Runge, Power Advisory, an expert retained by the Department (then NRR) as noted in the NSUARB's decision dealing with the approval of NS Power's DDA (2024 NSUARB 67, paras. 85-88). [414] If the Board were to consider a...

AI summary The text argues against departing from the original cost-based approach for valuing rate base and depreciation, emphasizing that such a change would require uniform application across all asset classes. It warns of potential value fluctuations, the need for transitional reserves, and impacts on depreciation expenses and rates if coal asset values rapidly decline pre-2030.

3.6.3.1.2 Assets No Longer "Used and Useful" and the Decarbonization Deferral Account [419] Referring to "core ideas" from the UAD line of cases and their relevance to Nova Scotia, the Department submitted, "Once an asset is no longer used...

AI summary The Nova Scotia Department argues that assets no longer 'used and useful' can be removed from the rate base, with shareholder losses. NS Power cites the Alberta Court of Appeal's 2023 decision in ATCO Electric Ltd. v Alberta Utilities Commission (2023 ABCA 129), which clarified that the Stores Block case did not bind the AUC in handling stranded assets from natural disasters. The Court emphasized legislative discretion over depreciation and stranded assets.

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's decision on insurance and self-insurance is relevant, with the conclusion that the Commission's discretion under the Electric Utilities Act determines the outcome, not depreciation schedules or property law principles.

ROE and potentially a lower cost of debt than would be the case under a policy focused on the used and useful test. In the long run, the application of a lower ROE to the totality of a utility's rate base can be more beneficial to rate pay...

AI summary The Board discusses how a lower ROE could benefit rate payers by discouraging unnecessary capital investments. It emphasizes the importance of prudence reviews to ensure NS Power's investments are justified and prevent rate base inflation. The prudency test is highlighted as critical to maintaining just and reasonable rates under the regulatory compact.

3.7.1 The Fair Return Requirement [442] NS Power operates as a natural monopoly in Nova Scotia, where the absence of meaningful competition means the competitive forces of the market do not apply. Section 45 of the Public Utilities Act ent...

AI summary NS Power operates as a natural monopoly in Nova Scotia, requiring a fair return to ensure financial stability and attract investment. The Board must set parameters to ensure a just return, as insufficient returns could lead to higher borrowing costs and loss of investor confidence, ultimately affecting customers.

equity in capital markets that are affected by macroeconomic indicators and central bank policies. Concentric's evidence filed with NS Power's application used market data as recent as February 2025. [456] Concentric believes that since th...

AI summary Concentric argues that NS Power requires a 9.9% return on equity to attract investment for its energy transition, citing stable interest rates and long-term industry challenges. This recommendation, based on North American proxy groups and adjusted for flotation costs, exceeds the settlement agreement's proposal.

sked the NSUARB to conduct an independent review of the utility's state of preparedness before the storm. Many questioned why a rate increase should be considered in the circumstances. The Board said: - [14] Just prior to November 15, 2004...

AI summary The NSUARB was requested to review NSPI's preparedness for a 2004 storm that caused power outages. Public concerns arose about a rate increase amid the outages. The Board delayed a hearing due to the storm's impact and received a Premier's request for an independent review under the Public Utilities Act.

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.

3.8 Cost of Service Study [561] Under the PUA , a utility is afforded the opportunity to recover its "reasonable and prudent" costs of providing service and a "just and reasonable" return on its rate base. The total amount of these costs a...

AI summary The Cost of Service Study outlines how utilities recover 'reasonable and prudent' costs under the PUA, setting rates to meet revenue requirements. Rate classes must be based on service conditions, not customer ability to pay, as per Dalhousie Legal Aid Service v Nova Scotia Power Inc. (2006 NSCA 74). Discrimination in rates is judged by factors like load factor and time of use.

3.8.4.1 Findings [624] Notwithstanding the settlement agreement, the Board finds that it is appropriate to direct NS Power to implement a load carrying capability adjustment in this proceeding. Unlike the evidence relating to the use of th...

AI summary The Board directs NS Power to implement a 0.4 kW/customer load carrying capability adjustment, citing expert agreement and the need for immediate action. The 1.5 kW figure from Excel Energy is deemed inappropriate. NS Power must conduct further analysis before future proceedings.

3.8.5.1 Findings [631] It is clear that Ms. Palmer has some misgivings about other aspects of NS Power's cost-of-service methods, but in light of the settlement agreement, she elected to focus on the minimum system vs. basic customer issue...

AI summary The Board acknowledges Ms. Palmer's concerns about NS Power's cost-of-service methods but emphasizes that a settlement agreement does not determine public interest. The Board urges NS Power to address these concerns in a future application and encourages Synapse to raise other issues for consideration.

ing the updated COSS would result in lower OATT costs per MW. This is false. As indicated above, the coincidence factors from 'Exhibit 9a Annual' are not relevant to the calculation of the OATT rates. As demonstrated above, the proposed OA...

AI summary NS Power refutes claims that updating the COSS would lower OATT costs, asserting its calculations are accurate and aligned with the 2026-2027 GRA. It clarifies that COS and OATT are distinct constructs, with IESO Nova Scotia set to administer OATT under the More Access to Energy Act . NS Power emphasizes ongoing engagement with REI to address OATT methodology questions.

3.10 Miscellaneous Charges and Regulations

AI summary The section '3.10 Miscellaneous Charges and Regulations' outlines various charges, adjustments, and regulatory frameworks relevant to utility operations and rate structures in Nova Scotia. It references multiple acronyms and entities involved in energy regulation and management.

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 NSUARB acknowledges NS Power's climate data efforts but criticizes its Climate Change Adaptation Plan as insufficient, lacking transparency and stakeholder engagement. The Board directs NS Power to revise the plan by October 1, 2026, to better address climate impacts, adaptation measures, and challenges. The current plan fails to meet objectives related to storm cost recovery and capital planning.

4.4 Lingan Unit 2 and Trenton Unit 5 [712] In its general rate application, NS Power assumed sustaining capital expenses of $20,829,182 at Lingan 2 during the 2026-2027 test period, including $18,433,591 in 2026 and $2,395,591 in 2027 (Bat...

AI summary NS Power revised sustaining capital costs for Lingan Unit 2 from 2026 to 2027 and increased OM&G costs for Lingan 2 and Trenton Unit 5 due to extended operations and retirement adjustments. Bates White highlighted the 'substantial cost' relative to energy output and urged additional narrative support for the capital cost increase.

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.

Interpretation 2 In this Act, unless the context otherwise requires, "alternative form of regulation" means a method of establishing just and reasonable rates, tolls, charges and tariffs by performance-based regulation, including earnings...

AI summary The document discusses NS Power's consideration of alternative regulatory models, including performance-based rate plans, while acknowledging complexities arising from its vertically integrated structure and decarbonization goals. NS Power emphasizes the need to evaluate impacts on the IESO-NS and mechanisms like the FAM, advocating for further stakeholder dialogue.

4.5.1 Findings [726] While the Board appreciates the complexity and challenges, a transition to performance-based rates should be explored. Key goals in such a transition would be the development of more predictable rate setting processes,...

AI summary The Board acknowledges the complexity of transitioning to performance-based rates but emphasizes the need for more predictable rate-setting processes, reduced regulatory burdens, and better alignment of utility incentives with customer interests. The Board intends to further explore this transition.

[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.

Licenced Retail Supplier (LRS) : A Retail Supplier who: - (a) holds a valid Retail Supplier Licence; and - (b) has a valid LRS Participation Agreement executed with NS Power. For certainty, a Wholesale Customer is not a Licenced Retail Sup...

AI summary This document defines key terms and agreements related to Licensed Retail Suppliers (LRS) in Nova Scotia, including participation agreements with NS Power, definitions of renewable low-impact electricity, and the roles of entities such as NS Power and the Board. It outlines the regulatory framework and operational parameters for LRS and their interactions with NS Power.

1.0 GENERAL DESCRIPTION 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...

AI summary This document outlines the administration plan for Nova Scotia Power Inc.'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 used in the FAM, and the Board will conduct audits of NS Power's FAM accounts.

5.0 AUDIT AND OVERSIGHT The amounts charged through the FAM shall be subject to periodic audit to assure completeness and accuracy and to assure fuel and purchased power costs were incurred reasonably and prudently. The results of any audi...

AI summary The Fuel Adjustment Mechanism (FAM) amounts are subject to periodic audit to ensure accuracy and reasonableness of fuel and purchased power costs. Audit results will be considered in future hearings for adjusting the Base Cost of Fuel or Fuel Adjustment Factor, or in a General Rate Case, based on requests from NS Power, stakeholders, or the Board.

Audit Process The Board shall provide for the conduct of a Fuel Adjustment Mechanism (FAM) audit during the 2026-2027 GRA Period as it deems appropriate. The Board shall have a qualified independent firm conduct the audit. The audit will a...

AI summary The NSEB requires an independent audit of NS Power's Fuel Adjustment Mechanism (FAM) during the 2026-2027 GRA period, covering financial and management aspects of fuel procurement and recovery, including the FAM formula and actual costs.

S Power Fuel Manual in the following specific areas (without limitation as to other areas determined to be relevant to effective and efficient fuel and energy procurement, management, and production): - Fuel and purchased power costs - Rev...

AI summary The audit scope includes reviewing fuel and purchased power costs, operational availability, fuel handling, contracts, hedging practices, and FAM adjustments for NS Power. Audits will commence in February of every second year, with final reports due by July 2 of the same year. The auditor must meet with NS Power and stakeholders before finalizing the audit scope.

"Power" "power" means the time rate of generating or using electric energy, normally expressed in kilowatts; "Retail Supplier Licence" "Retail Supplier Licence" means a Retail Supplier licence issued by the Board in accordance with the Ele...

AI summary The document defines key terms related to electricity regulation in Nova Scotia, including 'Power,' 'Retail Supplier Licence,' 'RtR Customer,' 'Residential Customer,' and 'Secondary metering.' These definitions are essential for understanding the regulatory framework governing electricity supply and customer service.

7.27 (h) Inspections in Excess of Maximum Number of Visits For an inspection visit, in excess of the maximum number of visits permitted under the Regular Permit and Inspection Fee the Special Permit and Inspection Fee shall apply.

AI summary This section outlines the application of the Special Permit and Inspection Fee when an inspection visit exceeds the maximum number of visits allowed under the Regular Permit and Inspection Fee.

OPENING STATEMENT 31 NOVA SCOTIA NDP CAUCUS 1 how best to serve Nova Scotians going forward. 4 [9:30:00] Nova Scotians have lost trust in Nova 5 Scotia Power, and it's not hard to understand why. We 6 urge this Board to do everything in it...

AI summary The Nova Scotia NDP Caucus opening statement expresses concern over the lack of public trust in Nova Scotia Power and emphasizes the need for affordable, reliable power and ensuring the utility acts in the public interest.

NSP COST OF SERVICE PANEL 45 Questions, (Deveau) 1 evidence but did not go to an oral hearing, 15 so you didn't testify at hearings in those matters at all? 16 A. (Blair) No. Manitoba we were 17 scheduled to testify 18 Q. Right. 19 A. (Bla...

AI summary The document contains questions from the NSP Cost of Service Panel regarding Blair's qualifications as an expert witness, including his involvement in cost-of-service matters and the Cost-of-Service Study consultation report. Blair confirms this is his first formal recognition as an expert in this area.

OPENING STATEMENT 59 NSP COST OF SERVICE PANEL 1 We know that there is never a good 11 achieving this alignment on the outcome sought in this 12 Application demonstrates that the GRA is in the public 13 interest and that the outcomes are j...

AI summary Nova Scotia Power Inc. (NSP) presents its General Rate Application, emphasizing that the proposed settlement aligns with the public interest and was negotiated with intervenors representing major customer groups. The application includes updated studies such as a Depreciation Study, Land Loss Study, and Cost-of-Service Study, developed through collaboration with customer representatives and the Board.

NSP COST OF SERVICE PANEL 77 Cr-ex, (Rudderham) 1 Q. And PHP was a signatory on this 14 because we felt it was putting the Board in the best 15 position to get the best information and the most accurate 16 information possible. 17 THE CHAI...

AI summary The document discusses a proceeding involving Nova Scotia Power's cost of service panel, with references to executive involvement and a settlement announcement from September 2025. The discussion includes questions about the disproportionate impact of proposed rates on different rate classes.

NSP COST OF SERVICE PANEL 99 Cr-ex, (Mahody) 1 based on cost causation? 3 of Mr. Outhouse that your evidence speaks of, that was 4 related to a two-day session administered by Mr. Outhouse 5 in November of 2024, and perhaps a half–day in D...

AI summary The text discusses a cost-of-service panel involving Nova Scotia Power (NSP) and references a two-day session in November 2024 facilitated by Mr. Outhouse, as well as subsequent discussions between the utility and intervenors that led to the Consensus Agreement. The involvement of Board staff and Synapse is noted during the session.

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 COST OF CAPITAL PANEL 409 Cr-ex, (Mahody) 1 Trenton Unit 5 two boiler feed and, ultimately, down at 20 in the 2020-2021 FAM audit? 21 A. (Coyne) I would have to check 22 that reference to see where that $4 million came from. I 23 don't...

AI summary The text references a discussion about a potential discrepancy involving a $4 million figure in the context of the 2020-2021 FAM audit, with a panelist indicating they need to check the source of the amount. The reference is part of a court reporting transcript.

NSP COST OF CAPITAL PANEL 445 Cr-ex, (Mahody) 1 our analysis. 16 report, the decision of the OEB, on the screen now. It's 17 the March 27, 2025 decision. Again, same decision you had 18 been referred to and questioned on in the NSPML 2026...

AI summary This text references a regulatory proceeding involving NSP's cost of capital, specifically mentioning the OEB's March 27, 2025 decision and the use of U.S. data in setting Canadian ROEs. It also discusses differences between Canadian and U.S. utilities, particularly in risk, regulatory oversight, and business structures.

NSP COST OF CAPITAL PANEL 457 Cr-ex, (Mahody) 1 MR. MAHODY: Sure. 8 witness should be allowed some opportunity to go through 9 the rest of it in relation to those questions. 10 THE CHAIR: Mr. Coyne, are you able to 11 respond to the genera...

AI summary The text is a transcript from a regulatory proceeding involving NSP's cost of capital panel. Mr. Mahody is questioning Mr. Coyne about a working paper circulated for discussion and comment, noting that it is not an official OEB document and expressing concerns about the analysis presented.

1 participation in the rate case. 2 A. (Williams) So it –– when I said 3 there's nothing that restricts, I was talking to a 4 scenario where there hasn't been a Settlement Agreement, 5 and that your term of a full record, again I'm not sur...

AI summary The discussion centers on the definition of a 'full record' in the context of a rate case proceeding. Nova Scotia Power asserts that a full record is the complete application fulfilling filing requirements, while the questioner suggests that the record may include additional evidence from intervenors.

ling requirements is Nova Scotia Power's view of a record, but the record in one of these proceedings, you appreciate, there is all of the IRs that Intervenors would normally ask, there's the evidence 1 that Intervenors would normally put...

AI summary The discussion focuses on the regulatory process for securitization, with Nova Scotia Power outlining tasks completed and those remaining to advance the process. The dialogue also touches on the nature of the record in regulatory proceedings and the role of intervenors.

INTERNATIONAL REPORTING INC. CERTIFIED COURT REPORTERS 1 ROEs unless an intervenor has made that request? 2 A. (Williams) I don't know that I'd 3 want to speak to the authority of the Board, sir, but I –– 4 it's the company's interpretatio...

AI summary The discussion revolves around the jurisdiction of the Board in relation to mandatory actions and the interpretation of provisions regarding ratepayer objectives submitted during a rate change hearing. The company's position on the Board's authority is not explicitly stated.

NSP GENERAL/REGULATORY PANEL 849 Questions, (Deveau) 1 our obligation to serve customers within Nova Scotia, and 7 attraction and retention of those staff. As well, because 8 of the significant expansion in scope in terms of the work 9 tha...

AI summary The discussion focuses on Nova Scotia Power's obligation to serve customers and the need for additional safety staff due to expanded work scope. Member Deveau questions the justification for increased human resources costs, noting that Nova Scotia Power is already above average compared to peers as per the ScottMadden Report.

- of the opt-out fee that's being proposed for '26-27. So 1 it's not included in general rates. 2 the timeline to be similar to the 500 million, as best 3 to the best of my knowledge. 4 Of course, that follows a Q. 5 financing order by the...

AI summary The text discusses the proposed opt-out fee for 2026-2027, noting it is not included in general rates. It also references a financing order by the Board and mentions the Grant Thornton report, particularly Figure 12 on page 32 of the PDF. There is mention of the Control Centre's budget and employee transfers, as well as the IESO filing its initial revenue requirement.

NSP GENERAL/REGULATORY PANEL 1039 Questions, (Chair) 1 finish this last question and then we can break for 15 9 (MacIntosh) Yes. A. 10 11 12 13 14 15 The second phase focused on Q. establishing Hydro-Québec's action areas, identifying pote...

AI summary The discussion revolves around Nova Scotia Power's Climate Adaptation Management System and its alignment with the Climate Adaptation Framework and Plan developed by the Canadian Electricity Association in 2017. There is a reference to Nova Scotia Power's methodology for addressing climate risks and asset risks, as well as a mention of Hydro-Québec's approach to providing fact sheets for each action area in their plan.

LIST OF EXHIBITS EXHIBIT NO. DESCRIPTION PAGE NO. 6 regulators. My expertise is also on the page right now 7 with various expert reports filed throughout the years 8 with different regulators throughout Atlantic Canada. 9 Q. And in the app...

AI summary The text details a regulatory proceeding where expert witnesses, Ms. Brown and Mr. Griffiths, are qualified to provide opinion evidence on utility revenue requirement, utility OM&G, and regulatory amortization and taxes. Their qualifications are accepted, and their reports are confirmed as accurate.

1 QUESTIONS FROM THE CHAIR 2 Okay. As I understand it, in Q. 3 this part of the report you're talking about the review of 4 operation, maintenance, and general costs and there's a 5 section here that talks about forecasting uncertainties....

AI summary The Chair of the proceeding asks about Nova Scotia Power's review of sensitivity analysis and alternative approaches in their General Rate Application. The company's representative confirms that alternative approaches were not included in the submitted information, only the final position of the utility was presented.

BATES WHITE PANEL 1189 Questions, (Deveau) 1 over on the audit side. 2 Okay. Well, that's another Q. 3 matter. We'll deal with that in that matter. 4 The next issue is at page 36 of your 5 report. And it may be a different context, but you...

AI summary The discussion centers on an audit issue involving hardcoded information in Excel spreadsheets, which complicates the tracking of BCF amounts and their translation to proposed rates. The speaker acknowledges the context of a past Board direction and seeks further clarification on the concerns raised.

Ottawa, Ontario PAGE NO. January 7, 2026 Hearing opens 1 Preliminary matters 1 Opening Statement by Affordable Energy Coalition 11 Opening Statement by Nova Scotia Liberal Caucus 17 Opening Statement by Nova Scotia NDP Caucus 27 NSP COST O...

AI summary The document outlines the structure and proceedings of a regulatory hearing in Ottawa, Ontario, including opening statements from various stakeholders and examination panels related to Nova Scotia Power's cost of service and depreciation.

In-ch, (Mahody) 1 Qualifications and Experience goes on to provide some 2 detail regarding your 20-plus appearances before various 3 regulatory boards and commissions. 4 It does. Yes, I think a couple A. 5 of pages down. That's right. 6 Co...

AI summary The text discusses a regulatory proceeding involving Ms. Palmer and Mr. Mahody. Mr. Mahody outlines his qualifications and experience as a principal associate at Synapse Energy Economics, providing expert witness services in regulatory proceedings related to utility cost-of-service studies, cost allocation, and rate design.

Down towards the bottom. It's the reference to the Connecticut Public Utilities Regulatory Authority. BY MR. MAHODY: Q. There is reference to docket 24- 10-04 from the Connecticut Public Utilities Regulatory Authority. Ms. Palmer, were you...

AI summary The text references Ms. Palmer's involvement in a regulatory case in Connecticut, where she served as an expert witness for the Office of Consumer Counsel. She provided direct, rebuttal, and cross-examination testimony before the Connecticut Public Utilities Regulatory Authority, and her evidence has been accepted as expert testimony by various regulatory boards.

SWEB Development Mr. Mason Baker, P.Eng. BOARD COUNSEL: Mr. William L. Mahody, K.C. BOARD STAFF: Mr. Steve Pronko, Director, Electrical Advisory Services Ms. Libby McNamara, Director, Risk and Financial Advisory Services Ms. Holly Chisholm...

AI summary The SWEB Development section lists the individuals involved in the proceeding, including board counsel, board staff, and public proceeding assistants, indicating the participants in the regulatory process.