HALIFAX: In its first year in operation, Nova Scotia’s new, not-for-profit independent energy system operator advanced critical and urgent initiatives to keep electricity reliable, decarbonize the province’s grid, and deliver the energy Nova Scotians depend on at the best possible cost, all while rapidly standing up a brand-new organization designed to create value for electricity customers.
IESO Nova Scotia released its inaugural annual report, covering the significant progress made throughout the 2025-26 fiscal year toward delivering on its important, legislated mandate under the More Access to Energy Act, to bring competition and independent decision-making to the province’s electricity system for the benefit of Nova Scotians.
“Our first year has been about building an organization with a clear purpose: delivering a secure energy transition at the best possible cost for Nova Scotians,” said Johnny Johnston, President and CEO of IESO Nova Scotia. “I’m proud of the foundations our team has laid.
“This first annual report is an opportunity to share our progress and demonstrate our strong commitment to transparency.
“As we look ahead, our focus remains on keeping the lights on, putting customers first and earning trust through delivery.”
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In 2025-26, IESO Nova Scotia:
Built up an organization capable of delivering real value for Nova Scotians, setting up essential governance, financial, regulatory, engineering, technology, communications, and stakeholder engagement functions, setting up a fit-for-purpose workspace, growing to a team of 28 employees, and taking on critical long-term electricity system planning and procurement responsibilities for the province.
Launched Nova Scotia’s first independently led Integrated Resource Plan, the long-term system planning process that harnesses independent electricity system expertise, engaged industry, policy, and community stakeholder input, and advanced technical modelling to create a roadmap for reliable, sustainable power for the province over next 20 to 30 years at the very best possible cost.
Secured urgently needed firm, or on-demand, electricity to help Nova Scotia to meet its growing energy demand through an agreement with NB Power for access to 100 megawatts of generation capacity from its Renewable Integration Grid Security (RIGS) project currently in development.
Designed and refined, with substantial and invaluable stakeholder feedback, a procurement process for the fast-acting generation resources Nova Scotia needs to continue to meet growing electricity demand, enable the phase out coal-fired power generation, drastically reduce the province’s greenhouse gas emissions, and support the transition to an 80% renewable energy grid, all while keeping power dependable for hospitals, businesses, schools, and homes.
Began building important relationships and opportunities for dialogue with Nova Scotians, including Mi’kmaw communities and organizations, municipal, provincial, and federal government representatives, the Nova Scotia Energy Board (NSEB), consumer advocacy groups, industry participants, major electricity customers, and other important energy sector partners, all of which help to shape the planning, procurement, and operational decisions IESO Nova Scotia makes on behalf of the people of the province.
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IESO Nova Scotia ended its inaugural year with its expenses being $344,000 less than its NSEB-approved revenue requirement for the period, demonstrating an early focus on discipline and financial stewardship while the organization rapidly grew.
As with independent system operators in jurisdictions across North America and beyond, the services IESO Nova Scotia provides to the province’s energy system are ultimately paid for by electricity customers.
IESO Nova Scotia’s costs are carefully and responsibly budgeted, and must be reviewed and ultimately approved by the NSEB. IESO Nova Scotia’s costs represent a very small percentage of the overall costs to maintain and run the system, which collectively make up electricity rates.
As a not-for-profit organization, IESO Nova Scotia’s $344,000 surplus will result in a downward adjustment on future fees in a subsequent revenue requirement application.
IESO Nova Scotia’s full 2025-26 annual report can be found here.
