Commentary by the NS Power IRP Project Team
Nova Scotia Power’s Integrated Resource Plan (IRP) presents a long-term strategy for delivering safe, reliable, affordable, and clean electricity to customers across Nova Scotia. It is undertaken through a consultative process together with interested parties, the energy community, and our regulator to plan for the long-term future of our electricity system. Nova Scotia Power’s IRP Report Powering a Green Nova Scotia Together was released in November 2020 and included an Action Plan and Roadmap that identified near-term actions to meet future load and environmental requirements while maintaining a reliable power system at lowest cost over a 25-year planning horizon. Since the release of this report, NS Power has progressed each Action Plan item and provides annual updates on progress to the Nova Scotia Utility and Review Board and interested parties; these updates are available at irp.nspower.ca.
The 2020 IRP Report also proposed an evergreen IRP process to facilitate ongoing refinement of the IRP Action Plan when significant changes are observed via the IRP Roadmap items. Through 2021, NS Power observed changes in the planning environment that triggered an evergreen IRP update. This process was initiated in April 2022; modeling assumptions and scenarios were shared for feedback and then updated and circulated in July of 2022. These assumptions incorporate the significant policy changes in the planning landscape since the 2020 IRP (including Nova Scotia’s 2030 80% Renewable Electricity Standard, requirements to phase out coal generation by 2030, and proposed federal net zero targets).
Evergreen IRP Draft Modeling Results and Next Steps
Earlier this month, NS Power released an evergreen IRP update, which included draft modeling results based on the July 2022 modeling assumptions and scenarios. The following are high level key findings and insights: