Acts and Regulations

2013, c.7 - Electricity Act

Section 107
Disposition versions

Full text
Approval of capital projects of the Corporation
107(1)Subject to subsections (4) and (6), if the total projected capital cost to the Corporation of a capital project is $50 million or more, the Corporation shall not incur, in relation to the capital project, capital expenditures in excess of an amount equal to 10% of the total projected capital cost of the capital project before the capital project has been approved by the Board.
107(2)For the purposes of subsection (1), the Corporation shall make an application to the Board.
107(3)The Corporation may apply to the Board for approval of a capital project with a total projected capital cost of less than $50 million.
107(4)On an application by the Corporation for approval of a capital project described in subsection (1) that is made after the Corporation has incurred capital expenditures in excess of the amount indicated in that subsection in relation to the project, the Board may give retroactive effect to the approval if the Board is satisfied that
(a) the expenditures were necessary for the reliability, adequacy or safety of the integrated electricity system, of the Corporation’s generation facilities or of the Corporation’s distribution system, or
(b) the expenditures were necessary to relieve the Corporation of undue financial hardship and arose due to
(i) circumstances beyond the reasonable control of the Corporation acting in accordance with good utility practice, or
(ii) circumstances that were unforeseeable by the Corporation acting in accordance with good utility practice.
107(5)Despite subsection (1), a capital project that was approved by the board of directors of the Corporation, of a predecessor of the Corporation, or of a subsidiary of the Corporation before the commencement of this section shall be conclusively deemed to be prudent and shall not require the approval of the Board, if expenditures or contractual commitments were made by the Corporation, the predecessor of the Corporation, or the subsidiary of the Corporation in relation to the project before the commencement of this section.
107(6)In the event that the total projected capital cost of a capital project in respect of which subsection (5) applies is $50 million or more, the Corporation shall not, without the prior approval of the Board, incur, in relation to the capital project, capital expenditures in excess of those approved with regard to the capital project by the relevant board of directors before the commencement of this section.
107(7)For the purposes of subsection (6), the Corporation shall make an application to the Board.
107(8)An application under this section may be joined with any other application under this Part.
107(9)If satisfied as to the prudence of a capital project for which approval is applied for under this section, the Board shall approve the capital project.
107(10)For the purposes of subsection (6), if satisfied as to the prudence of the excess capital expenditures, the Board shall approve those capital expenditures.
107(11)In making a decision under subsection (9) or (10), the Board shall take into consideration
(a) the policy set out in section 68,
(b) the most recent integrated resource plan approved or deemed to be approved by the Executive Council under section 100,
(c) the most recent strategic, financial and capital investment plan filed with the Board under section 101,
(d) any requirements imposed by law on the Corporation that may be relevant to the application, including, without limitation, requirements regarding demand-side management and energy efficiency plans and renewable energy requirements,
(e) any directive issued by the Executive Council under section 69 that may be relevant to the application,
(f) any policy established by a regulation made under paragraph 142(1)(f) that may be relevant to the application, and
(g) any other factors that the Board considers relevant.
107(12)If the Corporation makes an application for approval under this section, no other transmitter is required to be a party to the proceedings before the Board.
107(13)The Board shall, on receipt of an application under this section, proceed under section 127.
2021, c.42, s.35
Approval of capital projects of the Corporation
107(1)Subject to subsections (4) and (6), if the total projected capital cost to the Corporation of a capital project is $50 million or more, the Corporation shall not incur, in relation to the capital project, capital expenditures in excess of an amount equal to 10% of the total projected capital cost of the capital project before the capital project has been approved by the Board.
107(2)For the purposes of subsection (1), the Corporation shall make an application to the Board.
107(3)The Corporation may apply to the Board for approval of a capital project with a total projected capital cost of less than $50 million.
107(4)On an application by the Corporation for approval of a capital project described in subsection (1) that is made after the Corporation has incurred capital expenditures in excess of the amount indicated in that subsection in relation to the project, the Board may give retroactive effect to the approval if the Board is satisfied that
(a) the expenditures were necessary for the reliability, adequacy or safety of the integrated electricity system, of the Corporation’s generation facilities or of the Corporation’s distribution system, or
(b) the expenditures were necessary to relieve the Corporation of undue financial hardship and arose due to
(i) circumstances beyond the reasonable control of the Corporation acting in accordance with good utility practice, or
(ii) circumstances that were unforeseeable by the Corporation acting in accordance with good utility practice.
107(5)Despite subsection (1), a capital project that was approved by the board of directors of the Corporation, of a predecessor of the Corporation, or of a subsidiary of the Corporation before the commencement of this section shall be conclusively deemed to be prudent and shall not require the approval of the Board, if expenditures or contractual commitments were made by the Corporation, the predecessor of the Corporation, or the subsidiary of the Corporation in relation to the project before the commencement of this section.
107(6)In the event that the total projected capital cost of a capital project in respect of which subsection (5) applies is $50 million or more, the Corporation shall not, without the prior approval of the Board, incur, in relation to the capital project, capital expenditures in excess of those approved with regard to the capital project by the relevant board of directors before the commencement of this section.
107(7)For the purposes of subsection (6), the Corporation shall make an application to the Board.
107(8)An application under this section may be joined with any other application under this Part.
107(9)If satisfied as to the prudence of a capital project for which approval is applied for under this section, the Board shall approve the capital project.
107(10)For the purposes of subsection (6), if satisfied as to the prudence of the excess capital expenditures, the Board shall approve those capital expenditures.
107(11)In making a decision under subsection (9) or (10), the Board shall take into consideration
(a) the policy set out in section 68,
(b) the most recent integrated resource plan approved or deemed to be approved by the Executive Council under section 100,
(c) the most recent strategic, financial and capital investment plan filed with the Board under section 101,
(d) any requirements imposed by law on the Corporation that may be relevant to the application, including, without limitation, requirements regarding demand-side management and energy efficiency plans and renewable energy requirements,
(e) any directive issued by the Executive Council under section 69 that may be relevant to the application,
(f) any policy established by a regulation made under paragraph 142(1)(f) that may be relevant to the application, and
(g) any other factors that the Board considers relevant.
107(12)If the Corporation makes an application for approval under this section, no other transmitter is required to be a party to the proceedings before the Board.
Approval of capital projects of the Corporation
107(1)Subject to subsections (4) and (6), if the total projected capital cost to the Corporation of a capital project is $50 million or more, the Corporation shall not incur, in relation to the capital project, capital expenditures in excess of an amount equal to 10% of the total projected capital cost of the capital project before the capital project has been approved by the Board.
107(2)For the purposes of subsection (1), the Corporation shall make an application to the Board.
107(3)The Corporation may apply to the Board for approval of a capital project with a total projected capital cost of less than $50 million.
107(4)On an application by the Corporation for approval of a capital project described in subsection (1) that is made after the Corporation has incurred capital expenditures in excess of the amount indicated in that subsection in relation to the project, the Board may give retroactive effect to the approval if the Board is satisfied that
(a) the expenditures were necessary for the reliability, adequacy or safety of the integrated electricity system, of the Corporation’s generation facilities or of the Corporation’s distribution system, or
(b) the expenditures were necessary to relieve the Corporation of undue financial hardship and arose due to
(i) circumstances beyond the reasonable control of the Corporation acting in accordance with good utility practice, or
(ii) circumstances that were unforeseeable by the Corporation acting in accordance with good utility practice.
107(5)Despite subsection (1), a capital project that was approved by the board of directors of the Corporation, of a predecessor of the Corporation, or of a subsidiary of the Corporation before the commencement of this section shall be conclusively deemed to be prudent and shall not require the approval of the Board, if expenditures or contractual commitments were made by the Corporation, the predecessor of the Corporation, or the subsidiary of the Corporation in relation to the project before the commencement of this section.
107(6)In the event that the total projected capital cost of a capital project in respect of which subsection (5) applies is $50 million or more, the Corporation shall not, without the prior approval of the Board, incur, in relation to the capital project, capital expenditures in excess of those approved with regard to the capital project by the relevant board of directors before the commencement of this section.
107(7)For the purposes of subsection (6), the Corporation shall make an application to the Board.
107(8)An application under this section may be joined with any other application under this Part.
107(9)If satisfied as to the prudence of a capital project for which approval is applied for under this section, the Board shall approve the capital project.
107(10)For the purposes of subsection (6), if satisfied as to the prudence of the excess capital expenditures, the Board shall approve those capital expenditures.
107(11)In making a decision under subsection (9) or (10), the Board shall take into consideration
(a) the policy set out in section 68,
(b) the most recent integrated resource plan approved or deemed to be approved by the Executive Council under section 100,
(c) the most recent strategic, financial and capital investment plan filed with the Board under section 101,
(d) any requirements imposed by law on the Corporation that may be relevant to the application, including, without limitation, requirements regarding demand-side management and energy efficiency plans and renewable energy requirements,
(e) any directive issued by the Executive Council under section 69 that may be relevant to the application,
(f) any policy established by a regulation made under paragraph 142(1)(f) that may be relevant to the application, and
(g) any other factors that the Board considers relevant.
107(12)If the Corporation makes an application for approval under this section, no other transmitter is required to be a party to the proceedings before the Board.