Topic:"Revenue Requirement" in M12600

NS Power Cyber Incident Report Appendix B Page 1 of 7 Affected Regulatory Matters Report 2 - October 1 Report 3 - November 3 Report 4 - December 1 Latest update Forecast Restoration of Normal Activities Financial Reporting and Statements I...

AI summary The cybersecurity incident has affected automated financial reporting and statements, leading to the use of forecast figures for unregulated adjustments in regulated financial statements. NS Power expects actual figures to be available for Q4 2025 Regulated Financial Statements by Q1 2026, with no expected impact on customers.

Operations NSPl's earnings are most directly impacted by the range of ROE and capital structure approved by the NSEB, the prudent management and approved recovery of operating costs, electric sales volumes, weather, the approved recovery o...

AI summary NSPI's earnings are influenced by factors such as the ROE range approved by the NSEB, operating costs, electric sales volumes, and capital investment. NSPI expects to earn at the lower end of its allowed ROE range in 2026, with higher earnings compared to 2025. Capital investment for 2026 is projected to be around $720 million, primarily for power system reliability.

Net cash provided by operating activities decreased $801 million to $118 million in 2025 compared to $919 million in 2024. Operating cash flow before change in working capital decreased $538 million primarily due to increased fuel for gene...

AI summary Net cash from operating activities dropped significantly in 2025 due to higher fuel costs and purchased power, partially offset by increased electric revenues and tax recoveries. Changes in working capital further reduced cash flows, mainly due to accounts receivable and fuel inventory adjustments.

Energy Consumption Risk NSPI is affected by demand for energy based on changing customer patterns due to fluctuations in a number of factors including general economic conditions, weather events, customers' focus on energy efficiency, chan...

AI summary NSPI faces energy consumption risk due to changing customer demand patterns influenced by economic conditions, weather, energy efficiency, rate changes, and new technologies like solar and electric vehicles. Government policies promoting energy efficiency and distributed generation may affect electricity system operations, revenue, and financial performance.

Public Health Crisis Risk An outbreak of infectious disease, a pandemic or other public health threats, or a fear of any of the foregoing, could result in a Material Adverse Effect to NSPI. This could include causing operating, supply chai...

AI summary A public health crisis, such as an infectious disease outbreak or pandemic, could lead to a Material Adverse Effect on NSPI by causing operational delays, supply chain disruptions, labor shortages, and impacts on demand, revenue, and capital investments.

Renewable to Retail Information NS Power's annual Wholesale and Renewable to Retail Market Report provides Cost of Service by Functional Areas in cents per kWh pursuant to Renewable to Retail marketrelated historical NSEB direction. This i...

AI summary NS Power is unable to provide the 2025 Cost of Service by Functional Areas due to an Incident affecting the model used for calculation. The model is being recreated, causing a delay in posting this information for 2025 and its inclusion in the February 2026 report.

ecognize the remarkable efforts of Nova Scotia Power employees, who are also our customers. Their resilience and innovation have been critical in supporting our customers during this challenging time. While responding to this incident has...

AI summary Nova Scotia Power acknowledges the efforts of its employees and highlights investments in reliability. A General Rate Application was submitted, emphasizing the balance between affordability and reliability. The company cooperates with ongoing investigations and reaffirms its commitment to customer trust and correcting billing errors.

Financial Enterprise Resource Planning NS Power has continued to advance the restoration of key financial enterprise resource planning capabilities necessary to support normal business operations. Work to strengthen purchasing, vendor paym...

AI summary NS Power has made significant progress in reducing post-cyber-event invoice backlogs, improving payment processing, and restoring financial systems. Invoice volumes are now at pre-cyber levels, with enhanced automation and cost tracking contributing to stable financial operations.

Please refer to: David Roberts Email: [[email protected]](mailto:[email protected]) Assistant: Alissa Whalen Assistant's email: [[email protected]](mailto:[email protected]) March 23, 2026 VIA WEB PORTAL VIA EMAIL Cry...

AI summary The Consumer Advocate proposes adding two issues to the Preliminary Issues List for M12600: the impact of a cyber security incident on Nova Scotia Power's billing accuracy and the measures considered to maintain revenue from customer billing.

Request IR-4: - Please refer to the Net Metering 2025 Annual Report (Matter M12783) Table 1 (Summary of Net Metering Results for the Period ending December 31, 2025). - a) Table 1 includes data relating to "Payout for excess banked generat...

AI summary The document requests Nova Scotia Power to explain how it will handle variances in estimated data related to 'Payout for excess banked generation to customers on anniversary date' from Table 1 in the Net Metering 2025 Annual Report (Matter M12783).

Recovery Timeline The recovery program continues to be governed through formal oversight, sequencing discipline, and risk-based prioritization. The focus remains on transitioning services into stable business as usual operations over time....

AI summary The recovery program is managed through formal oversight and risk-based prioritization, with a focus on transitioning services to stable operations. No new material impacts were identified in the current reporting period.

Financial Enterprise Resource Planning Restoration of financial capabilities continued to advance through staged deployment and validation activities, with a focus on ensuring accuracy, control integrity, and operational continuity. Integr...

AI summary NS Power is making progress in restoring financial capabilities through staged deployment and validation, with a focus on accuracy and operational continuity. Integration between financial and operational systems is advancing, though some processes are being re-planned based on validation outcomes. There has been a temporary increase in invoices on hold due to improvements in inventory handling and expense processing.

The following projects experienced adjustments to their completion timeline. An overview of the changes and associated rationale is outlined below: Pillar Project Summary of Change Rationale Receiving Invoice needs to be received in intern...

AI summary The document outlines adjustments to project timelines, specifically mentioning changes related to invoice receipt and discrepancies between ordered and received amounts.