N-12025-2026 Annual Report
19 passages
Independent We operate independently of governments, utilities, and power producers, and our activities are overseen by our independent Board of Directors, as well as by the provincial energy regulator, the Nova Scotia Energy Board.
AI summary The organization operates independently of governments, utilities, and power producers, with oversight provided by its independent Board of Directors and the provincial energy regulator, the Nova Scotia Energy Board.
The Role of an Independent Energy System Operator Around the world, electricity systems are becoming more complex. Demand for electricity is growing, aging infrastructure must be replaced, new technologies are emerging, and jurisdictions a...
AI summary The document discusses the global trend of adopting independent energy system operators (IESOs) to manage increasingly complex electricity systems. IESOs are described as neutral, not-for-profit entities that prioritize customer interests and system reliability over commercial interests, overseeing planning, resource acquisition, and grid operations.
Who We Are, How We Work IESO Nova Scotia was created at a pivotal moment for our province's electricity system. The decisions made today will shape how Nova Scotians power their daily lives for decades to come. That responsibility requires...
AI summary IESO Nova Scotia was established to manage the province's electricity system, emphasizing transparency, integrity, and public service. In its first year, the organization focused on building its structure and culture, developing Strategic Pillars and Guiding Behaviours to guide its operations and decision-making.
Completing the Creation of IESO Nova Scotia As a new organization, one of our most important priorities is completing the transition to a fully independent energy system operator. This includes building the system operations, planning, eng...
AI summary The focus is on completing the transition to a fully independent energy system operator, including building system operations, planning, engineering, and organizational capabilities under the More Access to Energy Act to serve Nova Scotians long-term.
Creating Transparent System and Market Access Transparency and competition are central to the independent system operator model. We are working to establish clear, fair, and transparent processes for electricity system planning, interconne...
AI summary Transparency and competition are emphasized in the independent system operator model, with efforts focused on establishing clear processes for electricity system planning, interconnections, procurements, and future market mechanisms to encourage innovation and improve customer outcomes.
Regulatory Oversight The regulator oversees electricity system operators and utilities, including approving rates and budgets. They also enforce reliability standards and monitor system performance.
AI summary The regulator is responsible for overseeing electricity system operators and utilities, including the approval of rates and budgets, enforcement of reliability standards, and monitoring of system performance.
MESSAGE FROM THE CHAIR OF THE BOARD "This past year marked a transformational moment for Nova Scotia's electricity sector with the launch of IESO Nova Scotia and the beginning of our work as the province's independent system operator." Dou...
AI summary The Chair of the Board of IESO Nova Scotia reflects on the establishment of the independent energy system operator, highlighting its significance for transparency, accountability, and public interest. The Board played a foundational role in setting up the organization's governance and operations before transitioning to strategic oversight.
Building an Organization to Deliver Value for Nova Scotians IESO Nova Scotia was created by provincial legislation to manage the province's electricity system — from long-term planning to new resource procurement to operating the grid in r...
AI summary IESO Nova Scotia was established by provincial legislation to manage the province's electricity system independently and in the best interests of Nova Scotians. The organization has rapidly built foundational systems, infrastructure, and capabilities in its first year of operations, with a focus on ensuring a secure and cost-effective electricity supply while enabling the renewable energy transition.
Building Trust Through Engagement and Transparency At the centre of our electricity system, and the way we make decisions about it, are Nova Scotians. Ultimately, the system is designed, built, and operated for the people of this province....
AI summary IESO Nova Scotia emphasizes engagement and transparency in decision-making for the electricity system, involving various stakeholders including Mi'kmaw communities, governments, utilities, and customers. Over 100 stakeholders were engaged in 2025-26 through multiple meetings and sessions to build trust and ensure understanding of energy challenges and opportunities.
Strengthening Reliability Through Regional Cooperation Resource adequacy — or ensuring there is enough electricity supply to meet Nova Scotians' needs on any given day — remains one of the most pressing challenges facing Nova Scotia's elec...
AI summary Nova Scotia faces significant electricity reliability challenges, particularly during extreme weather events. The province has experienced tight electricity margins and relies on regional cooperation, such as with Newfoundland and Labrador and New Brunswick, to maintain reliability. An agreement with New Brunswick Power provides access to 100 megawatts of fast-acting capacity from the RIGS facility, enhancing system resilience.
Creating Value Through Independent Review For IESO Nova Scotia, commissioning the review was about more than evaluating past work. It was about creating long-term value for electricity customers by ensuring future investment decisions are...
AI summary The review by IESO Nova Scotia aims to create long-term value for electricity customers by improving the planning framework for future investment decisions. It highlights opportunities to simplify planning scenarios, enhance public engagement, and improve clarity and predictability in the planning process.
Delivering Benefits for Customers Long-term electricity planning can seem technical, but its impact is tangible. Better planning helps ensure that new infrastructure investments are made at the right time, that emerging technologies are ev...
AI summary This section discusses the importance of long-term electricity planning in Nova Scotia, emphasizing its role in ensuring infrastructure investments are timely, technologies are evaluated fairly, and the province's priorities of reliability, affordability, and environmental goals are met. It highlights IESO Nova Scotia's commitment to evidence-based decision-making and stakeholder collaboration.
CASE STUDY: Finding a Well-Suited Workspace for IESO Nova Scotia Finding suitable office space is never easy particularly for a new organization working to become operational quickly and cost-effectively on behalf of electricity customers....
AI summary IESO Nova Scotia faced challenges in finding suitable office space in Halifax due to a constrained market, limited availability of large spaces, and the need for extensive renovations, which could have delayed operations into 2026 and increased costs significantly.
Getting Ready November was an exceptionally busy month. Carpets were cleaned, walls were painted and the required IT infrastructure was installed. To create the collaborative environment needed for different types of work, some existing of...
AI summary November was a busy month with office renovations, including cleaning, painting, and IT infrastructure installation. Existing offices were converted into collaborative spaces, and an open-plan environment was implemented to enhance transparency and collaboration. Furniture was sourced from a Swedish company, and parallel efforts included hiring leadership, setting up HR systems, financial systems, and supporting regulatory processes.
WHAT COMES NEXT IESO Nova Scotia's first year was focused on establishing an effective and capable organization, assuming critical electricity system planning and procurement responsibilities, and laying the groundwork for many important i...
AI summary IESO Nova Scotia's first year focused on establishing the organization and assuming planning and procurement responsibilities. In 2026-27, the focus shifts to delivering on these foundations as the province's electricity system transitions to 80% renewable energy and phases out coal, requiring collaboration with various stakeholders to ensure reliability and manage costs.
Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, an...
AI summary The auditor's responsibilities include obtaining reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error. This involves assessing risks, evaluating internal controls, and ensuring the financial statements are presented fairly. The audit does not guarantee the detection of all material misstatements, especially those arising from fraud.
CA of Greater Halifax, United Way of Canada/Centraide Canada, and United Way of Halifax. He also served as Board Chair of Halifax Public Libraries and as a Director of the Halifax Chamber of Commerce. Maureen Higgins is a senior executive...
AI summary The text introduces several individuals with leadership experience in the energy and utility sectors, including their professional backgrounds and roles in various organizations. It highlights their contributions to technology transformation, utility operations, and corporate strategy.
BOARD AND CEO COMPENSATION The Nova Scotia Independent Energy System Operator, established on October 24, 2024 under the Province's More Access to Energy Act, is a body corporate operating under the organizational name of IESO Nova Scotia,...
AI summary The document outlines the governance structure of IESO Nova Scotia, established under the More Access to Energy Act. It describes the role of the Board of Directors in overseeing operations, strategy, and budget, emphasizing public interest, ethical behavior, and transparency.
The Board operates through standing committees, each guided by Board-approved terms of reference. Committees Oversight Audit and Risk Committee Assists the Board in fulfilling its stewardship and oversight responsibilities for the financia...
AI summary The Board of IESO Nova Scotia operates through several standing committees, including the Audit and Risk Committee, Human Resources and Governance Committee, and an Ad-Hoc Transition Committee, which oversees the transition from Nova Scotia Power Inc. to IESO Nova Scotia. An Ad-Hoc 2025-26 Revenue Requirement Application Committee also supported the development of the Revenue Requirement Application.