N-52024-2025 Bates White FAM Audit Report - Redacted
7 passages
224 "NCL - 20190701 POA Ash Services," section 1.1.7. contract value of $ We confirmed that the separate three-year contracts for Point Aconi225 and Lingan226 had terms that matched offer. Coal Sales Agreement: On September 3, 2025, N...
AI summary The text discusses a coal sales agreement between NSPI and the government, with terms for selling coal over a five-year period, and mentions an audit recommendation from Bates White related to the 2022-2023 audit.
requirement is %. As it relates to biomass fuel, the energy balance process assigns "costs" between PHP and NSPI by adjusting NSPI's inventory levels and assigning debits or credits on PHP's invoices. As an initial matter, NSPI has been fu...
AI summary The text discusses the energy balance process between PHP and NSPI, emphasizing its complexity and the need for agreement between the two parties for modifications. The Energy Balance Worksheet is not included in the Shared Services Agreement due to its technical nature, and the audit period results have been reviewed.
ization rate of the incremental FT contract would have been higher, possibly generating savings for the FAM customers in the later years. This would also affect the NPV of the incremental FT contract. Last, Bates White considers concern re...
AI summary The analysis discusses the financial implications of the MN365 FT Contract, including the impact of demand charges and the potential for selling unused capacity. It highlights that fixed demand charges are a fixed cost and that unused FT capacity could be sold at a discount, affecting the NPV and overall savings for FAM customers.
XII.B.3.c. NSPML The Maritime Link is owned by NSPML, a wholly-owned subsidiary of Emera and an affiliate of NSPI. Recovery of Maritime Link costs were subject to Board-approved annual assessments. Revenue of up to $163.5 million and $197....
AI summary NSPML, a subsidiary of Emera, is subject to revenue holdbacks until certain conditions are met. NSPML applied to end the holdback mechanism in M12696. In 2024 and 2025, NSPML received approved revenue amounts, and NSPI reported cost reductions related to the Maritime Link and FAM balance. Financial details and applications are discussed in various matters and decisions.
In our report for the prior Audit Period, we included five recommendations regarding power purchases and sales. We address each as follows. Our first recommendation was: Recommendation XII-1: NSPI should continue to update the Board on its...
AI summary The report addresses Recommendation XII-1, which urges NSPI to continue updating the Board on progress in finalizing an agreement with NLH regarding the valuation of undelivered NS Block quantities. NSPI has accepted the recommendation and is providing quarterly updates, with the most recent meeting between NLH and NS Power occurring in December 2025.
winter months (April-June 2022), rather than to wait until November-December of 2022 to receive those makeup volumes. This analysis helps demonstrate the reasonableness of NSPI's decision at the time.
AI summary The analysis supports the reasonableness of NSPI's decision to receive makeup volumes during the winter months (April-June 2022) rather than waiting until November-December 2022.
XV.B.4.e. Cause Code 5: PDN Deviations – PHP Decision to Vary From Schedule NSPI identifies in its ELIADC annual reports the hours in which Cause Code 5: PDN deviations occur and the magnitude of those deviations. The cost or "penalty" for...
AI summary This section discusses the calculation and application of penalties for Cause Code 5: PDN deviations under the ELIADC Tariff. NSPI calculates penalties based on price differences and has reduced the penalty in 2025, but this reduction is criticized as not supported by the tariff and potentially weakening incentives for PHP to follow the schedule. The document also highlights a correction recommendation for the penalty calculation.