CHEMICAL MANAGEMENT

Emera Inc Subsidiary Nova Scotia Power Reaches Settlement Agreement on General Rate Application, Including Fuel and Non-fuel Rates for 2023 and 2024

Emera Inc. and Nova Scotia Power | November 25, 2022 | Read time : 03:00 min

Emera Inc. Subsidiary
Emera Inc. and its wholly-owned subsidiary Nova Scotia Power announced that NS Power has filed a proposed settlement agreement for its 2022-2024 General Rate Application with the Nova Scotia Utility and Review Board. The settlement, which addresses both fuel and non-fuel rates, was reached between NS Power and key customer representatives, including Nova Scotia’s Consumer Advocate, the Small Business Advocate, large customers represented by the Industrial Group, municipal utilities, Dalhousie University as well as advocates for the environment and low-income customers.

If approved by the UARB, the settlement will implement Bill 212, the provincially legislated cap on non-fuel rates for 2023 and 2024. The agreement addresses the recovery of fuel costs over the settlement period and would also establish a Demand Side Management (DSM) rider. Combined, these amounts would result in rate increases of 6.9% each year for 2023 and 2024. In addition, any under or over recovery of fuel costs would be addressed through the UARB’s established Fuel Adjustment Mechanism (FAM) process.

Reaching this settlement is a remarkable demonstration of stakeholders’ and customer representatives’ commitment to working together to reach constructive solutions for customers. Working within the constraints of Bill 212, this settlement addresses all outstanding items of the GRA, and provides important price predictability for customers at this time of high inflation and broad economic challenge.”

Peter Gregg, President and CEO of NS Power

Other elements of NS Power’s GRA addressed in the settlement include agreement on a storm rider for the years 2023-2025, providing clarity around the recovery of costs for major storms and extreme weather events in future. It also establishes an equity thickness of 40 per cent for rate-making purposes and will result in $137 million in forecasted incremental non-fuel revenues over the settlement period, compared to $240 million filed within the GRA. 

“This is a positive step forward,” said Scott Balfour, President and CEO, Emera Inc. “Achieving successful and balanced regulatory outcomes within strong regulatory compacts is critical to our ability to deliver first and foremost to our customers, but to all other stakeholders as well.”

Today’s agreement is the latest in a series of regulatory settlements across Emera’s portfolio that demonstrate the strength of Emera’s teams and strategy as well as Emera’s ability to work collaboratively with stakeholders to reach outcomes that are in the best interest of customers. In the last 24 months, New Mexico Gas, Tampa Electric and Peoples Gas have also concluded important rate cases through settlement agreements with customer representatives.

About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $40 billion in assets and 2021 revenues of more than $5.7 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. 

About Nova Scotia Power
Nova Scotia Power Inc. is a wholly-owned subsidiary of Emera Inc. a diversified energy and services company. Nova Scotia Power provides 95% of the generation, transmission and distribution of electrical power to approximately 540,000 residential, commercial and industrial customers across Nova Scotia. The company is focused on new technologies to enhance customer service and reliability, reduce emissions and add renewable energy. Nova Scotia Power has over 2000 employees and $4.5 billion in operating assets.

Spotlight

At Emery Pharma we conduct Nuclear Magnetic Resonance (NMR) Spectroscopy, which is an analytical chemistry laboratory technique used to look at the chemical environments of a selected nucleus (typically 1H) on a molecular level.

Spotlight

At Emery Pharma we conduct Nuclear Magnetic Resonance (NMR) Spectroscopy, which is an analytical chemistry laboratory technique used to look at the chemical environments of a selected nucleus (typically 1H) on a molecular level.

Related News

CHEMICAL MANAGEMENT, PRODUCTS AND TECHNOLOGIES

NextDecade and Itochu Corporation Sign 1.0 MTPA LNG Purchase and Sale Agreement

NextDecade Corporation | January 20, 2023

On January 19, 2023, NextDecade Corporation, a liquefied natural gas (LNG) development company committed on LNG associated pipelines and export projects, announced signing a 15-year-long sale and purchase agreement with Itochu Corporation for supplying liquefied natural gas (LNG) from NextDecade's Rio Grande LNG export project based in Brownsville, Texas. Under the terms of the sale and purchase agreement, ITOCHU Corporation will purchase 1.0 million tonnes per annum (MPA) of LNG on a free-on-board basis, indexed to Henry Hub. ITOCHU Corporation, a leading sogo shosha, engages in import/export, domestic trading, and overseas trading of various products such as machinery, textile, chemicals, metals, minerals, energy, and others. NextDecade's Chairman and Chief Executive Officer, Matt Schatzman, said, "We are honored to have Itochu Corporation as our first Japanese customer." He also stated, "We look forward to providing Itochu and their customers with LNG, and we are actively working to reduce the carbon footprint of the Rio Grande LNG facility through our proposed carbon capture and storage project." (Source – Business Wire) NextDecade aims for a favorable Final Investment Decision (FID) on the initial three trains of the Rio Grande LNG export project in the first quarter of 2023, with FIDs on the other trains to follow after that. About NextDecade Corporation Headquartered in Houston, Texas, NextDecade Corporation is an energy corporation expediting the arrival of a future with no net carbon emissions. NextDecade is dedicated to providing the world with cleaner energy with its innovative solutions for more sustainable LNG and carbon capture. Through its wholly-owned subsidiaries NEXT Carbon Solutions and Rio Grande LNG, the organization is developing a 27 MTPA LNG export plant in South Texas as well as one of North America's largest carbon capture and storage projects. It is also working with third-party clients throughout the world to deploy its exclusive processes to reduce CO2 emissions and lower the cost of carbon capture and storage at its industrial-scale facilities.

Read More

CHEMICAL MANAGEMENT, PRODUCTS AND TECHNOLOGIES

Olin and Mitsui Commence Operations of Their Blue Water Alliance Joint Venture

Olin Corporation | January 11, 2023

On January 10, 2023, Olin Corporation and Mitsui & Co., Ltd. announced that Blue Water Alliance J.V., LLP had received all required regulatory approvals and is beginning operations. Olin and Mitsui announced Blue Water Alliance (BWA) as a joint venture in March 2022. Headquartered in Houston, TX, USA, BWA combines Mitsui's industry-leading global logistics, long-established supplier and customer relationships, and breadth of the product portfolio with Olin's scale, North American export capability, production flexibility, and extensive global terminal network across the electrochemical unit (ECU) portfolio. BWA is an independent global dealer in ECU-based derivatives and was established to foster sustainability, efficiency, and excellence in the global shipping and management of caustic soda and ethylene dichloride (EDC). It is transforming how the industry manages these essential products, connecting producers with customers to deliver supplies as needed in an efficient, sustainable, safe, and cost-effective manner. "We're excited to begin delivering strategic solutions through our integrated global supply, trading, marketing, and logistic capabilities. We aim to enable reliable caustic soda and EDC supply through an efficient, sustainable, and cost-effective approach while accelerating industrial decarbonization efforts," commented Luiz Pimentel, General Manager of Blue Water Alliance. About Olin Corporation Founded in 1892, Olin Corporation is a global chemical product and leading U.S. ammunition manufacturer. It started as a small blasting powder supplier in East Alton, Illinois, and after a few decades of success and fruitful acquisitions, it grew to encompass several complementary business units. Its products include chlorine, caustic soda, epoxies, vinyls, chlorinated organics, bleach, hydrogen, and hydrochloric acid. In 1931 it incorporated Winchester, the leading manufacturer of sporting & law enforcement ammunition, small caliber military ammunition and components, reloading components, and industrial cartridges in the United States. Its businesses employ about 8,000 professionals in more than 20 countries, with customers in 100 countries across the globe.

Read More

CHEMICAL MANAGEMENT, SCIENCE AND RESEARCH

TETRA TECHNOLOGIES, INC. ANNOUNCES UPDATE ON KEY STRATEGIC INITIATIVES

TETRA Technologies, Inc. | December 20, 2022

TETRA Technologies, Inc. announced updates on some of the Company's strategic initiatives. TETRA announced that Hargrove has completed the Front-End Engineering Design scope of work for the development and construction of a bromine production facility from TETRA's brine leases in Arkansas. Hargrove's FEED study provided an estimated total required capital investment, within a relevant range, over an estimated 24 month-period to construct the facility; optimized process flow, and identified long lead items. In addition, also provided was an evaluation of the required capital and engineering design to maximize the project's long-term profitability and the actions necessary to reduce execution risk to support the advancement of the project towards becoming a robust bromine-producing plant. As announced previously, TETRA's brine leases are estimated to contain inferred resources of 5.25 million tons of bromine and 234,000 tons lithium carbonate equivalent. Hargrove's FEED study is part of TETRA's ongoing evaluation and initial assessment of its Arkansas brine leases, which is part of an effort by TETRA to develop bromine production to meet an existing and growing completion fluids market as well as TETRA's high purity zinc bromide electrolyte (TETRA PureFlow®) to support the projected high growth market of energy storage. During the fourth quarter, TETRA received an order for TETRA PureFlow® from a second zinc-based energy storage battery provider. In parallel to the Hargrove FEED scope of work, Lonquist & Company LLC are in the process of completing a detailed geological, reservoir and production simulation study to ensure the optimal locations for the production and injection wells to ensure the best long-term producibility and recovery of the bromine and lithium from TETRA's approximately 5,000 acres where TETRA holds the bromine and lithium mineral rights not subject to the option agreement with Standard Lithium. The reservoir modeling and well placements design are also important to support the production volumes that the Company will include in a forthcoming economic analysis. The final Lonquist report is currently targeted for completion in January 2023, after which the Company will finalize and make available an initial economic assessment. During the fourth quarter, TETRA successfully completed its first UK based CS Neptune® project. With this project, TETRA has now completed CS Neptune jobs with 100% success rates in the Gulf of Mexico, Norway and the UK. The European projects are smaller in size to those previously completed in the Gulf of Mexico but demonstrate the successful application of this zinc-free environmentally-friendly completion fluid. TETRA also completed an acquisition of a completion fluids business in the U.K. and is in the final stages of completing an additional acquisition to expand its deepwater position in the Gulf of Mexico. Although smaller in size, both acquisitions will immediately grow TETRA's market position and growth capacity in both key offshore markets. Also in the fourth quarter, TETRA has obtained exceptional preliminary results from its first desalination of produced water for beneficial re-use pilot project in Texas for a major oil & gas producer. TETRA has partnered with this major U.S. shale producer for its first pilot using TETRA's proprietary pre-treatment process combined with osmotically assisted reverse osmosis technology where TETRA has an exclusive agreement for oil and gas applications. The results have yielded as high as 92% de-salinated water from the produced water with total dissolved solids levels ranging from 200 ppm to 40 ppm. For comparison, the typical average municipal tap water contains between 300 ppm to 400 ppm. The trial was recently completed and the equipment field and operational learnings will be used for a final commercial plant design. TETRA"S CEO Brady Murphy stated, "I am pleased with the progress we have made this year by strengthening our position in key markets for an expected multi-year offshore upcycle while making significant R&D and engineering progress for lithium extraction and bromine production from our Arkansas Smackover brine leases. With the recent and increasing seismicity events in West Texas and New Mexico, there is increasing urgency for desalinating oil and gas produced water for the purpose of beneficial reuse. We are excited with our advances in each of these areas and the business opportunities they present for the company."

Read More