N-12025 Annual Financial Statements - Redacted
9 passages
2025 Annual Financial Statements Attachment 3 Page 20 of 30 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Severe weather events or conditions such as hurricanes, floods, storm surge, tornadoes, droughts, fires, extreme temperatures, snow or...
AI summary The document outlines risks from severe weather events to the Company's infrastructure, including physical damage, service outages, and increased costs. These risks could lead to revenue loss, higher insurance and repair costs, and potential regulatory cost recovery challenges. Hydroelectric generation is also vulnerable to changing precipitation and temperature patterns.
2025 Annual Financial Statements Attachment 3 Page 21 of 30 REDACTED (CONFIDENTIAL INFORMATION REMOVED) The Company will be required to manage the impacts of these ongoing changes on customer demand and rates, while maintaining and integra...
AI summary The company faces challenges in managing energy transition impacts, capital investments, and external factors affecting the pace of emissions reductions. Insurance risks for carbon-emitting assets, potential legal actions, and climate change risks could affect service delivery, reputation, and access to capital.
System Operating and Maintenance Risks The safe and reliable operation of electric generation transmission and distribution systems is critical to NSPI's operations. There are a variety of hazards and operational risks inherent in operatin...
AI summary The safe and reliable operation of NSPI's electric systems is critical, facing risks like mechanical failures, natural disasters, and cyberattacks. These risks could lead to infrastructure damage, public safety issues, and Material Adverse Effects. The regulatory framework allows recovery of prudently incurred costs.
System Operations and Generation NSPI's Control Center Operations co-ordinates and controls the electric generation, transmission and distribution facilities with the goal of providing safe, reliable and efficient electricity supply while...
AI summary NSPI's Control Center manages electric generation, transmission, and distribution, ensuring reliability and compliance with environmental regulations. Interconnection agreements with NB Power and NLH enhance system reliability and reserve capacity. NSPI adheres to NPCC and NERC standards for the bulk electric system, with references to the Nova Scotia Energy Reform Act.
Operations Capital investment for 2026, including AFUDC, is forecasted to be approximately $720 million (2025 actual – $712 million). NSPI is primarily investing in capital projects required to support power system reliability and reliable...
AI summary NSPI forecasts $720 million in 2026 capital investment (including AFUDC), up from $712 million in 2025, to enhance power system reliability and customer service. Investments focus on maintaining infrastructure and service quality.
Responding to evolving drivers - Severe weather risks & resilience - Government policies & targets Electrification & demand - Emerging technologies
AI summary The document outlines key areas of focus for responding to evolving challenges, including severe weather resilience, government policies targeting electrification and demand management, and the integration of emerging technologies.
Letter from the Chair and the CEO Fellow shareholders, 2025 was defined by meaningful progress for Emera, reflecting the benefit of years of disciplined investment, operational excellence, and continual focus on long-term strategy and deli...
AI summary Emera highlights 2025 progress through disciplined investment, balance sheet strength, and long-term strategy. In 2026, the company focuses on modernizing energy systems, enhancing reliability, and managing costs amid rising demand and geopolitical challenges. Projects in Florida and Nova Scotia aim to expand capacity, integrate renewables, and improve grid resilience.
Transition Risk: As government policy related to the environment, renewable energy, and decarbonization continues to shift in various operating jurisdictions, the Company is exposed to increased uncertainty and risk arising from policy, le...
AI summary The Company faces transition risks due to evolving environmental policies, renewable energy mandates, and decarbonization efforts, which may cause material adverse effects. These risks include regulatory uncertainty, capital investment needs, insurance challenges, and potential litigation. The energy transition requires balancing reliability, affordability, and stakeholder expectations while adapting infrastructure and managing insurance and regulatory exposure.
System Operating and Maintenance Risks The safe and reliable operation of electric generation and electric and natural gas transmission and distribution systems is critical to Emera's operations. There are a variety of hazards and operatio...
AI summary Emera faces operational risks from mechanical failures, supply chain issues, natural disasters, and cyberattacks, which could disrupt services, damage infrastructure, and lead to a Material Adverse Effect.
N-2Refiled Statements - NSPI - Redacted
18 passages
Regulatory and Political Risk NSPI is subject to complex legislative and regulatory frameworks that cover material aspects of their businesses. These frameworks influence key factors such as rates and cost structures, revenue requirements,...
AI summary NSPI operates under a cost-of-service regulatory model requiring approvals for rate changes and capital investments. Regulatory delays, cost recovery risks, and government policy shifts could cause material adverse effects, including valuation impairments and service reliability issues. The IESO Nova Scotia's operational uncertainties and environmental legislation changes further complicate regulatory stability.
2025 Annual Financial Statements Attachment 3 Page 20 of 30 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Severe weather events or conditions such as hurricanes, floods, storm surge, tornadoes, droughts, fires, extreme temperatures, snow or...
AI summary The document outlines risks from severe weather events to Nova Scotia Power's assets, including infrastructure damage, service outages, and fuel supply disruptions. These risks could lead to financial impacts such as repair costs, insurance expenses, and regulatory recovery challenges, potentially causing material adverse effects. Hydroelectric generation is also vulnerable to changes in water availability.
Physical Risk: Changes in climate may negatively impact the Company's operations as a result of increased frequency and intensity of weather events and related physical risks, any of which could result in a Material Adverse Effect (for mor...
AI summary Climate change poses physical risks to the Company's operations through increased weather events, potentially causing Material Adverse Effects. These risks may also raise insurance costs, impact credit ratings, and affect debt availability, as outlined in sections on liquidity and capital markets.
2025 Annual Financial Statements Attachment 3 Page 21 of 30 REDACTED (CONFIDENTIAL INFORMATION REMOVED) The Company will be required to manage the impacts of these ongoing changes on customer demand and rates, while maintaining and integra...
AI summary The company faces challenges in managing energy transition impacts, capital investment needs, and external factors affecting resiliency, renewable integration, and regulatory responses. Risks include insurance limitations for carbon assets, litigation from environmental harms, and climate change impacts on operations, reputation, and capital access.
System Operating and Maintenance Risks The safe and reliable operation of electric generation transmission and distribution systems is critical to NSPI's operations. There are a variety of hazards and operational risks inherent in operatin...
AI summary The document highlights risks to Nova Scotia Power Inc.'s (NSPI) system reliability from mechanical failures, natural disasters, cyberattacks, and supply chain issues. These risks could harm public safety, infrastructure, and customer confidence, with potential financial impacts not fully covered by insurance or regulatory recovery mechanisms. NSPI notes the regulatory framework permits recovery of prudently incurred costs.
Nova Scotia Power Incorporated - Management Information Circular 2026 Corporate Objective Weight- ing (%) Result Payout (%) Customer Building a reputation for customer\nexperience Objectives included: Threshold: Achieve 2025 Customer First...
AI summary The document outlines Nova Scotia Power Incorporated's 2026 Management Information Circular, including corporate objectives and performance metrics. It covers customer experience, asset management, and financial goals, with a focus on achieving targets related to customer satisfaction, reliability improvements, and financial performance.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This AIF, including the documents incorporated herein by reference, contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities l...
AI summary This document contains forward-looking information about NSPI's financial performance, operations, and regulatory compliance. It includes projections and assumptions regarding revenue, capital investments, regulatory decisions, environmental initiatives, and potential challenges such as cyber incidents and global economic conditions.
2025 Annual Financial Statements Attachment 5 Page 4 of 26 REDACTED (CONFIDENTIAL INFORMATION REMOVED) generation; no severe and/or prolonged downturn in economic conditions; sufficient liquidity and capital resources; the continued abilit...
AI summary The document outlines forward-looking information for NSPI, highlighting key assumptions and risks affecting its operations, including regulatory, economic, environmental, and market-related factors. It emphasizes uncertainties such as changes in laws, commodity prices, credit ratings, and technological developments that could impact performance.
System Operations and Generation NSPI's Control Center Operations co-ordinates and controls the electric generation, transmission and distribution facilities with the goal of providing safe, reliable and efficient electricity supply while...
AI summary NSPI's Control Center manages electric generation, transmission, and distribution through SCADA systems, ensuring safe and reliable power supply. NSPI is interconnected with NB Power and NLH, enhancing system reliability and reserve capacity. NSPI adheres to NPCC and NERC standards for system reliability, as enforced by the NSEB.
Reduced CO2 emissions by nearly half (1) while modernizing grids - Replacing coal - Integrating renewables - Grid upgrades
AI summary The text highlights efforts to reduce CO2 emissions by nearly half through the replacement of coal with renewable energy sources and the modernization of the grid infrastructure.
Initiatives across our core operating jurisdictions (2) – paced with customer affordability in mind - Florida: Strengthening reliability and affordability while modernizing the generation fleet via investments in solar, battery storage, fu...
AI summary The text outlines initiatives in Florida and Nova Scotia aimed at improving reliability and affordability, with a focus on renewable energy and climate policy alignment. Nova Scotia's efforts include grid resilience, interties, hydro, battery storage, and coal retirement, in line with provincial climate targets of 80% renewable energy and coal-free electricity by 2030.
Letter from the Chair and the CEO Fellow shareholders, 2025 was defined by meaningful progress for Emera, reflecting the benefit of years of disciplined investment, operational excellence, and continual focus on long-term strategy and deli...
AI summary Emera's 2025 progress is attributed to disciplined investment and operational excellence, with a focus on long-term strategy and financial resilience. The company is modernizing its energy systems and strengthening grid reliability, particularly in Florida and Nova Scotia, to meet growing energy demand and support renewable integration.
FLI is based on reasonable assumptions and is subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or results anticipated by the FLI. Factors that could cause result...
AI summary Forward-looking information (FLI) is subject to various risks and uncertainties that could cause actual results to differ significantly from expectations. These include regulatory, economic, environmental, technological, and operational risks, among others.
Weather Risk A Material Adverse Effect may arise from seasonal weather variations impacting energy consumption, as well as severe weather events, changing air temperatures, wildfires and other severe weather conditions that are expected to...
AI summary The document discusses the risks posed by weather variations and severe weather events to Nova Scotia Power Inc.'s operations, including impacts on energy consumption, infrastructure damage, fuel supply disruptions, and potential financial losses. These risks could lead to a Material Adverse Effect if not mitigated or recovered through regulatory processes.
Physical Risk: Changes in climate may negatively impact the Company's operations as a result of increased frequency and intensity of weather events and related physical risks, any of which could result in a Material Adverse Effect (for mor...
AI summary Climate change poses physical risks to the Company's operations through increased weather events, potentially causing Material Adverse Effects. These risks may also raise insurance costs, impact credit ratings, and affect debt availability, as outlined in sections on liquidity and capital markets.
Transition Risk: As government policy related to the environment, renewable energy, and decarbonization continues to shift in various operating jurisdictions, the Company is exposed to increased uncertainty and risk arising from policy, le...
AI summary The Company faces increased transition risk due to evolving environmental policies, renewable energy initiatives, and decarbonization efforts, leading to uncertainty in policy, legal, and regulatory frameworks. This may impact customer demand, rates, and the need for significant capital investment. Risks also include challenges in insuring carbon-emitting assets and potential litigation or regulatory action over environmental harms.
2025 Annual Financial Statements Attachment 6 Page 51 of 138 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Strategic Overview Management's Discussion and Analysis Consolidated Financial Statements Emera Leadership and Board Shareholder infor...
AI summary The document highlights the potential risks associated with cybersecurity breaches and their impact on Emera's operations, including system failures, loss of service, and financial losses. It outlines measures taken by the company to manage these risks, such as aligning with cybersecurity standards, conducting assessments, and engaging third-party experts.
System Operating and Maintenance Risks The safe and reliable operation of electric generation and electric and natural gas transmission and distribution systems is critical to Emera's operations. There are a variety of hazards and operatio...
AI summary The document highlights the operational and maintenance risks associated with Emera's electric and natural gas systems, including mechanical failures, cyberattacks, natural disasters, and third-party activities. These risks could impact public safety, infrastructure, and customer confidence, with potential losses not fully covered by insurance or regulatory recovery mechanisms.