Topic:"Revenue Requirement" in M12779

NSP Maritime Link Inc. Consolidated Statement of Cash Flows Year Ended December 31 millions of Canadian dollars 2025 2024 Operating activities Net income $ 41.1 $ 44.7 Adjustments to reconcile net income to net cash provided by operating a...

AI summary The consolidated statement of cash flows for NSP Maritime Link Inc. shows net cash provided by operating activities of 114.7 million Canadian dollars in 2025, compared to (387.6) million in 2024. Net income decreased from 44.7 million to 41.1 million during the same period. Significant adjustments include depreciation and amortization, and changes in regulatory assets and liabilities.

Revenue Recognition NSPML's sole source of revenue is from NSPI. Revenues are recorded by NSPML as the performance obligation under the terms of its contract with NSPI are satisfied, which is providing transmission service to NSPI over tim...

AI summary NSPML's revenue is derived exclusively from NSPI, recognized ratably throughout the year as transmission services are provided. Revenue is invoiced monthly to NSPI with payment due upon receipt, based on approved NSEB assessments.

4. REVENUE Revenue is subject to regulatory approval through NSEB assessments whereby NSPI is ordered to pay the assessment to NSPML. Revenue of up to $197.2 million was approved for 2025 (2024 - $163.5 million). Approved assessment paymen...

AI summary Revenue for 2025 was approved up to $197.2 million (2024: $163.5 million) with monthly holdbacks up to $4 million. NSPML reported $198.4 million in revenue (2024: $161.6 million) and collected $178.2 million in cash. Adjustments included $2.6 million in interest accrual from the FLG and $1.2 million reduction for unspent operating costs.

Refund of prior year assessments to NSPI On November 29, 2024, the NSEB approved NSPML's application for the creation of a $500 million regulatory asset relating to a refund to NSPI for a portion of previous NSPML assessment payments to he...

AI summary The NSEB approved the creation of a $500 million regulatory asset for NSPML to refund NSPI for prior assessments related to the delayed Muskrat Falls project. The asset was amortized over 28 years, with $18.6 million amortized in 2025 and the unamortized balance at $481.4 million as of December 31, 2025.

NSP Maritime Link Inc. Regulated Operating Revenues Year Ended December 31 millions of Canadian dollars Actual 2025 Approved 2025 Assessment Electric Revenues Revenue per Approved Assessment 158.2 158.2 Revenue reduction, unspent operating...

AI summary NSP Maritime Link Inc. (NSPML) reported regulated operating revenues of $156.8 million in 2025, compared to the approved assessment of $158.2 million. Adjustments include a $1.2 million revenue reduction for unspent operating costs and a $0.2 million holdback true-up from 2023. Note 1 references Matter M12394, requiring NSPML to return unspent funds, including WACC, from 2025.

M12779 – NSP Maritime Link Inc. (NSPML) - 2025 Financial Statements and Cost Containment Report Nova Scotia Power Maritime Link filed its 2025 Audited Consolidated Financial Statements on March 31, 2026. NSPML also filed its 2025 Regulated...

AI summary NSP Maritime Link Inc. (NSPML) submitted its 2025 financial statements and cost containment report. The Board reviewed the filings and accepted confidentiality requests for certain responses to information requests. The Board confirmed the offsetting of future income tax regulatory assets and deferred income taxes, noted NSPML's regulated return on equity, and acknowledged a minor variance in equity thickness. The Board also accepted NSPML's proposal to integrate cost containment reporting into future assessment applications.