N-1Application - Redacted
6 passages
1 1.0 INTRODUCTION 2 3 NSP Maritime Link Incorporated (NSPML, Company) makes this Application for 4 approval of an assessment from Nova Scotia Power Incorporated (NS Power) for 5 recovery by NSPML of its 2027 and 2028 revenue requirements....
AI summary NSP Maritime Link Incorporated (NSPML) is seeking approval to recover its 2027 and 2028 revenue requirements, totaling $200.3 million and $191.5 million respectively. The request includes operating and maintenance costs, depreciation, interest, and financing costs, with adjustments to debt and equity financing costs and inflationary impacts. NSPML also proposes an alternate approach for the 2027 marine survey due to its materiality and prudence for customers.
2.1 Overview 4 5 The components of NSPML's forecast 2027 and 2028 revenue requirement are outlined in Table 1 below: 7 6
AI summary This section provides an overview of the components of NSPML's forecast 2027 and 2028 revenue requirement, as outlined in Table 1.
Date Filed: June 25, 2026 Page 9 of 28 1 The Company has discussed this approach with customer representatives and believes 2 it warrants Board consideration. 3 4 NSPML's rationale for this treatment includes: 5 6 Marine survey costs are...
AI summary NSPML discusses the challenges of managing marine survey costs, including their significance to maintenance and inspection expenses, forecasting uncertainties, and the impact on earnings. A proposed solution involves filing the Contracted Marine Survey cost confidentially after the contract award, with adjustments incorporated into the 2027 assessment.
2.3.3 Capital Depreciation 12 13 14 15 16 17 11 Consistent with the Final Costs Decision and its approved depreciation policy, NSPML seeks to recover $57.7 million in depreciation in 2027 and $58.1 million in 2028 which is calculated in ac...
AI summary NSPML seeks to recover $57.7 million in depreciation in 2027 and $58.1 million in 2028, consistent with the Final Costs Decision. The increase in 2027 is due to the Cable Protection Project, and the increase in 2028 is due to the SCM upgrade. Adjustments from close-out matters are not expected to have a material impact.
12 2.4.1 Annual Net Interest Costs 13 14 The requested recovery of annual net interest costs in 2027 is $36.7 million. This 15 represents total coupon interest costs of $36.1 million, letter of credit fees of $0.4 16 million, interest on d...
AI summary The document discusses the requested recovery of annual net interest costs for 2027 and 2028, including coupon interest, letter of credit fees, and interest on debt financing, partially offset by interest revenue and disallowed expenses. It also outlines the financing structure for the Maritime Link project, including bond guarantees and repayment schedules.
1 3.0 FEDERAL LOAN GUARANTEE 2 2 3 In 2024, NSPML completed a $500 million federally guaranteed bond offering. As approved by the Board in the Decision of the Supplemental Application,20 4 NSPML 5 excludes the $500 million loan for purpose...
AI summary NSPML completed a $500 million federally guaranteed bond offering in 2024, and has requested recovery for FLG2 annual financing costs in 2027 and 2028. The costs include coupon interest, principal repayment, and guarantee fees, with semi-annual payments starting in 2025. The principal amount is reduced over time through semi-annual repayments.