N-8NSPML (NSEB) RIR 1 to 44 - Redacted
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REDACTED 1 2 3 4 The history of cable inspection surveys for Maritime Link has been provided in the Application, 5 indicating that the last submarine cable and protection inspection survey over the full length of the 6 cables was performed...
AI summary The document discusses NSPML's plan for cable inspection surveys for Maritime Link, highlighting the last full survey in 2024 and the intent to perform partial surveys in 2025 and 2026. A full survey is planned for 2027 to monitor risks and assess the performance of recently placed cable protection, aligning with CIGRE TB825 guidance.
f such Emera Rights; " Emera Background IP " means the Intellectual Property Rights owned by Emera or its Affiliates which are Used in the Transmission Assets but which are not Emera Foreground IP; " Emera Default " has the meaning set for...
AI summary The text defines various legal and operational terms related to Emera's intellectual property, rights, and obligations, as well as references to agreements and legislation such as the Excise Tax Act (Canada).
round IP, as the context requires; " Formal Agreements " means the agreements listed in Schedule 2 ; " Foreign Jurisdiction " has the meaning set forth in Section [5.7(p)](#page-112-1) ; " Good Utility Practice " means those project manage...
AI summary The text defines key terms related to formal agreements, foreign jurisdiction, and good utility practice, particularly in the context of subsea HVdc transmission cables, emphasizing internationally recognized standards and acceptable practices within the electric utility industry in Canada.
" means any and all losses (other than losses of Energy normally incurred in the transmission of Energy), damages, costs, expenses, charges, fines, penalties and injuries of every kind and character; " MFP Operating and Maintenance Activit...
AI summary The text defines various terms related to the Maritime Link project, including operating and maintenance activities, cost of capital rates, data, and project-specific definitions. These definitions are critical for understanding the obligations and responsibilities of the parties involved in the project.
4.7 Shared Use of Transmission Corridor The Facility Real Property Interests in NL and in the seabed of the Cabot Strait shall not be used by Emera for any purpose other than the Maritime Link without Nalcor's prior written consent, which...
AI summary The text outlines restrictions on the use of Facility Real Property Interests in NL and the Cabot Strait seabed by Emera, requiring Nalcor's prior consent for any use other than the Maritime Link. A sharing agreement may be entered into under mutual agreement, ensuring no adverse impact on the Maritime Link's operation or decommissioning.
4.8 Maritime Link Life Extension Projects - (a) Nalcor Requirements From time to time during the Term, in conjunction with or in addition to O&M Activities required to be carried out by Emera at its cost pursuant to this Agreement, Nalcor...
AI summary The section outlines requirements for Maritime Link Life Extension Projects, stating that Nalcor may require Emera to carry out such projects, with costs borne by Nalcor. It also specifies that disputes related to these projects will be resolved through arbitration as per the Dispute Resolution Procedure.
16.4 Nalcor Option If any of the assets or arrangements contemplated by the Formal Agreements held by Emera or any Affiliate of Emera become beneficially owned or beneficially Controlled by any government or government-Controlled electrica...
AI summary This section outlines Nalcor's option to acquire ownership of the Maritime Link if a government or government-controlled electrical utility competitor of Nalcor gains beneficial ownership or control of certain assets or arrangements held by Emera or its affiliates.
edits or allowances, including all attributes associated with renewable energy, associated with the displacement of generation from greenhouse gas emitting facilities; " GWh " means gigawatt hours; " Good Utility Practice " means those pro...
AI summary The text defines 'Forgivable Event' in the context of renewable energy displacement and outlines the concept of 'Good Utility Practice,' emphasizing industry-standard practices for electric utility operations, including subsea HVdc transmission cables.
2.4 Nalcor Bid Price In pricing the Nalcor Bid Energy offered pursuant to Section [2.3](#page-19-0) , Nalcor shall consider, in respect of the applicable time periods covered by the Nalcor Bid, NSPI's market alternatives for Energy procure...
AI summary This section outlines the pricing mechanism for Nalcor's bid energy, ensuring it does not exceed the higher of the ISO-NE Day-Ahead Price or alternative market opportunities, considering factors such as transmission, storage, and generation capacity.
3.3 Energy-Only Product Nalcor Supplied Energy will be an Energy-only product, and Nalcor will retain all rights and value associated with such Energy in respect of associated Capacity and GHG Credits.
AI summary Nalcor Supplied Energy is designated as an Energy-only product, with Nalcor retaining all rights and value associated with the Energy, including related Capacity and GHG Credits.
3.4 End Use Consumption Only NSPI shall utilize all Nalcor Supplied Energy for the purpose of end-use consumption by its customers within NS only, provided that NSPI will have the limited right to resell Nalcor Supplied Energy during perio...
AI summary NSPI is required to use Nalcor Supplied Energy for end-use consumption within Nova Scotia, with limited rights to resell surplus energy during periods of excess supply. This is subject to specific conditions outlined in the agreement between Nalcor and NSPI.
3.6 Rescheduled Delivery Nalcor may, at its option and in its sole discretion, postpone and reschedule the delivery of Energy that it is otherwise obligated to deliver to NSPI pursuant to this Agreement in accordance with the following:
AI summary Nalcor has the right to reschedule the delivery of energy to NSPI at its discretion, subject to the terms outlined in the agreement.
5.7 Emera Wind with Nalcor Balancing Option - (a) NSPI will have the option, but will not be obligated to, construct or contract wind generation facilities to mitigate some or all of the Variance included in the Emera Variance Amount. NSPI...
AI summary NSPI has the option to construct or contract wind generation facilities to mitigate the Emera Variance Amount, with Emera also having the option to do so if NSPI declines. If a PPA is entered into, the Emera Variance Amounts will be reduced accordingly. Nalcor will not be held responsible for any failure of such wind facilities to supply energy.
5.8 Nalcor Balancing In the event that one or both of Emera and NSPI exercise the options to construct or contract wind generation in accordance with Section [5.7(a)](#page-30-1) or [5.7(b)](#page-30-2) , the following will apply: - (a) Na...
AI summary This section outlines the terms under which Nalcor Energy will provide balancing services if Emera or Nova Scotia Power Incorporated (NSPI) construct or contract wind generation. It specifies the obligations, timelines, and limitations regarding the provision of these services.
5.9 Sources of Supply For the purposes of satisfying any obligations arising pursuant to Section [5.5](#page-26-5) : - (a) Emera and Nalcor each may, in its sole discretion, select whatever sources of Energy supply it deems appropriate to...
AI summary The section outlines that Emera and Nalcor can choose any energy supply sources, including market purchases or new generation development, to meet their obligations. Energy sources do not need to be located in Nova Scotia or Newfoundland and Labrador, and alternative sources can be procured if necessary.
5.10 Wind Generation All references in this [Article 5](#page-25-3) to wind generation will be taken to include references to solar, tidal or other intermittent generation facilities in NS or adjacent waters with such changes as are requir...
AI summary This section redefines references to wind generation to include solar, tidal, and other intermittent generation facilities in Nova Scotia or adjacent waters, with context-specific adjustments.
he Prior Day, Nalcor will: - (a) provide confirmation to NSPI of the agreed-upon hourly flows of Nalcor Supplied Energy for the following day, as established by the applicable One Week Schedule; and
AI summary Nalcor is required to confirm hourly flows of Nalcor Supplied Energy to NSPI based on the One Week Schedule for the following day.
Nothing in this Scheduling Protocol affects the rights and remedies available to Nalcor in the case of an Emera Default pursuant to any of the Transmission Agreements. NSPML 2026 Assessment Application NSEB IR-26 Attachment 2 Page 80 of 24...
AI summary The text states that the Scheduling Protocol does not affect Nalcor's rights and remedies in the event of an Emera Default under Transmission Agreements. It also introduces the 'Energy Access Agreement' as a document referenced in the NSPML 2026 Assessment Application.
SCHEDULE P: PRODUCTS AND RELATED DEFINITIONS "Ancillary Services" means any of the services identified by a Transmission Provider in its transmission tariff as "ancillary services" including, but not limited to, regulation and frequency re...
AI summary Schedule P defines key terms related to energy transactions, including ancillary services, capacity, energy, and firm transmission contingent contracts. These definitions outline obligations and exceptions under Force Majeure conditions.
2.2 Nomination of Energy Flow Rate - (a) Nomination of Energy Flow Rate - In respect of each Balancing Year other than an initial partial Balancing Year, Emera shall advise Nalcor by Notice, on or before October 31 of the year preceding su...
AI summary This section outlines the process for Emera to nominate an energy flow rate for each Balancing Year, specifying that the nominated rate cannot exceed +/- 100 MW. The maximum flow rate is shared between NSPI and Emera if both are entering into Balancing Service Agreements. Failure to nominate results in a default of zero MW.
2.3 Delivery and Redelivery of Balancing Energy - (a) Delivery and Redelivery of Balancing Energy - At an energy flow rate not exceeding the then-applicable Nominated Rate and in accordance with the provisions of this Article 2 , Emera may...
AI summary This section outlines the terms for the delivery and redelivery of Balancing Energy between Emera and Nalcor, specifying that Emera may deliver or take redelivery of energy at a rate not exceeding the Nominated Rate, as governed by Article 2.
1.1 Definitions In this Agreement, including the recitals and, subject to Section 1.2(h) , in the Schedules: " A&R Effective Date " has the meaning set forth in the commencement of this Agreement; " A&R ML-JDA " has the meaning set forth i...
AI summary This section defines key terms within the agreement, including A&R Effective Date, A&R ML-JDA, APT, Affiliate, Agreement, Applicable Law, and Associated Capacity. It outlines the meaning and scope of these terms, particularly focusing on definitions related to capacity, transmission losses, and energy delivery.
st, a joint venture, an unincorporated organization, a union, a government or any department or agency thereof and the heirs, executors, administrators or other legal representatives of an individual; " Planned Maintenance Period " means a...
AI summary The text defines various terms and concepts related to energy regulation and infrastructure in Nova Scotia, including specific definitions for planned maintenance periods, pricing nodes, and other technical and legal terms relevant to the energy sector.
- (1) by no later than 1000 APT on the Thursday before the start of a Delivery Week, Nalcor shall give notice (a " Forecast Notice ") to Emera of the maximum amounts of Pre-FCP Surplus Energy and the times which it forecasts such Energy wi...
AI summary This section outlines the procedures for the delivery of Pre-FCP Surplus Energy between Nalcor and Emera, including deadlines for Forecast Notices, confirmation processes, and consequences for non-response. It defines key terms such as Forecast Notice, Confirmation Notice, and Delivery Day.
5.2 Coverages, Limits, Deductibles and Exclusions In each case, the insurance shall provide for coverages, limits, deductibles, exclusions and other terms and conditions as may be appropriate for the MFP, giving due consideration to: - (a)...
AI summary The insurance coverage for the Muskrat Falls Project must consider various factors including values at risk, third-party liabilities, commercial availability, industry practices, and Nalcor's financial capacity to self-insure certain risks.
10.2 Allocation of Muskrat Falls Output If the Muskrat Falls Plant is unable because of a Forgivable Event to generate Energy and Capacity at its full rated capacity in any hour during which Energy comprising a portion of the Nova Scotia B...
AI summary The document outlines the prioritization of energy curtailments when the Muskrat Falls Plant is unable to generate full capacity due to a Forgivable Event. Non-firm or interruptible sales are curtailed first, followed by firm or noninterruptible sales on a pro-rata basis.
IN WITNESS WHEREOF the Parties have executed this Agreement as of the date first written above. Executed and delivered by Nalcor Energy, in the presence of: NALCOR ENERGY By: Name: Ed Martin Title: President and Chief Executive Officer By:...
AI summary This document outlines an Energy and Capacity Agreement executed between Nalcor Energy and Emera Inc., with key signatories including Ed Martin and Rob Hull. The agreement defines terms such as APT, FCP, and ML, and is part of a broader regulatory and operational framework.
(b) Late Delivery Procedure - (i) In respect of Compensation Energy, Emera shall deliver to Nalcor within 20 days or as soon as is reasonably practicable after the start of the period of non-delivery of Block B Undelivered Energy, and ther...
AI summary This section outlines the procedure for late delivery of Compensation Energy, requiring Emera to submit periodic statements to Nalcor, which may dispute these statements under the Dispute Resolution Procedure while continuing to schedule and deliver the disputed amounts.
WHEREAS : A. Nalcor Energy and Emera Inc. have entered into a Term Sheet dated November 18, 2010 (the " Term Sheet ") confirming their common understanding of the purpose, process and timing for the supply and delivery of power and energy...
AI summary Nalcor Energy and Emera Inc. signed a Term Sheet in November 2010 outlining the purpose, process, and timing for delivering power and energy from Newfoundland and Labrador to Nova Scotia, other Canadian provinces, and New England.
N-21UARB APPROVAL SHEET Replace L6513/Upgrade Line Terminals
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15 F. Capital Market Conclusions Interest rates on government and utility bonds have remained about the same as when the UARB approved the settlement in NSPI's previous GRA. This indicates that despite the uncertainties in the economy, the...
AI summary The document discusses the stability of interest rates on government and utility bonds since the UARB approved the settlement in NSPI's previous GRA. It highlights long-term challenges for the utility industry, including climate change, decarbonization, and grid modernization, as well as emerging load growth from electrification and data centers. Economic forecasts and modeling approaches such as CAPM, Risk Premium, and DCF are referenced.
b. Business Risk Analysis In order to assess NSPI's business risk, Concentric examined the following factors: - 1) the generation ownership of NSPI relative to other investor-owned electric utilities, and in particular the percentage of th...
AI summary Concentric assesses NSPI's business risk by evaluating factors such as generation ownership, macroeconomic trends, operating risks, cost recovery, and competition from alternative fuels. Changes since the previous GRA filing are also considered.
. was approximately 2.0 percent higher than for T&D utilities since January 2023. This highlights the greater risk of companies with regulated generation assets relative to those with T&D only assets. One additional risk that NSPI bears du...
AI summary NSPI faces higher risks compared to T&D utilities due to its regulated generation assets and significant thermal generation portfolio. Environmental policies at provincial and federal levels pose carbon transition risks, necessitating a shift to renewable energy sources. Provincial commitments include phasing out coal and achieving carbon neutrality.
These weak long-term economic and demographic trends place downward pressure on NSPI's electric load growth, which is offset by increased demand for electricity due to population growth, electrification of buildings, electric vehicle charg...
AI summary NSPI is facing downward pressure on electric load growth due to weak economic and demographic trends, but increased demand from population growth, electrification, and solar installations is offsetting this. DSM programs and solar installations are projected to reduce load growth by 699 GWh and 627 GWh, respectively, over the next decade.
1 j. Conclusions on Business Risk 2 As discussed in this Section, NSPI's risk profile is characterized by the following factors: 1) 3 ownership of substantial regulated generation assets; 2) the need to retire a substantial amount 4 of the...
AI summary NSPI's business risk profile includes regulated generation assets, retirement of thermal generation, capital investments for renewable transition, FAM audits, volumetric risk, weaker economic trends, and storm exposure. The company requests continuation of the storm rider pilot. Credit agencies are closely monitoring NSPI's decarbonization risks.
c. Comparison to U.S. Electric Utility Proxy Group As a preliminary matter, Concentric notes that from investors' perspective, both short-term and long-term risk are important. Regulation generally is better at addressing short-term risk,...
AI summary This section compares Nova Scotia Power Inc. (NSPI) to the U.S. Electric Utility Proxy Group in terms of business risk and ratemaking mechanisms. NSPI has significant coal-fired generation assets, unlike most U.S. companies, and has fewer risk-insulating ratemaking mechanisms available compared to the proxy group.
5. Risk Analysis Conclusions 4 Based on the results of the financial and business risk analyses discussed throughout this report, 5 Concentric concludes that: - NSPI's generation ownership distinguishes the Company from other investor-owne...
AI summary Concentric concludes that NSPI's business risk remains elevated, particularly due to environmental compliance requirements and regulatory challenges. NSPI faces higher risks compared to other Canadian and U.S. utilities, including regulatory lag and lack of protection against volumetric risk. The company also failed to achieve its authorized ROE in recent years.
Non-standard Meter Service (AMI) Opt-out Fee 2026-2027 GRA Direct Evidence Appendix 13A Page 11 of 14 The Board also notes from various energy transition matters it has considered or is dealing with at the present time that the implementat...
AI summary The Board highlights the importance of the AMI Project in facilitating the integration of renewables and distributed energy resources, managing load, and developing time-varying rates, which are essential for the energy transition. The Board agrees with NS Power that without AMI, it would lag behind other North American utilities in modernizing the electrical system.