Emera

Emera Incorporated is a publicly traded Canadian multinational energy holding company based in Halifax, Nova Scotia. Created in 1998 during the privatization of Nova Scotia Power, a provincial Crown corporation, Emera now invests in regulated electricity generation as well as transmission and distribution across North America and the Caribbean.

Emera Incorporated
Formerly
NS Power Holdings
Public
Traded asTSX: EMA
S&P/TSX 60 component
IndustryElectric & Gas Utilities
Founded1998 
Headquarters
Halifax, Nova Scotia
,
Canada
Areas served
Florida
Atlantic Canada
Caribbean
New Mexico
Key people
Scott Balfour (CEO)
RevenueC$6.5 Billion (2018)[1]
C$1.39 Billion (2017)[1]
C$266 Million (2017)[1]
Total assetsC$32.2 Billion (2018)[1]
Total equityC$7.82 Billion (2017)[1]
Number of employees
7,500 (2018)
SubsidiariesTECO Energy
Nova Scotia Power
Websitewww.emera.com

History
Emera head office

Emera was created out of the privatization of the provincial Crown corporation Nova Scotia Power Incorporated (NSPI). On December 2, 1998, NSPI shareholders voted to restructure the company to create a holding company which would be shareholder-owned, with the regulated utility being a wholly owned subsidiary of the holding company. On December 9, 1998, NSPI received approval to establish NS Power Holdings Incorporated and NSPI shareholders exchanged their shares in NSPI for shares in NS Power Holdings Inc. on a one-to-one basis on January 1, 1999. Common shares in NS Power Holdings Inc. began trading on the Toronto Stock Exchange and Montreal Stock Exchange on January 6, 1999. The NS Power Holdings Inc. name was changed to Emera Incorporated on July 17, 2000.

In 2013, Emera acquired the Bridgeport Energy, Rumford Power, and Tiverton Power plants from Capital Power Corporation for $541 million.[2]

On September 4, 2015, Emera announced the acquisition of TECO Energy, a utility company based in Tampa, Florida, whose holdings include Tampa Electric, Peoples Gas (no relation to the Chicago-based company of the same name), and New Mexico Gas. Emera paid $10.4 billion for TECO. The deal closed in July 2016.[3]

Subsidiaries[4]

Electric Utilities
  • Nova Scotia Power is a vertically integrated utility in Nova Scotia, with 500,000 customers, and 2487 MW of generating capacity
  • Tampa Electric, a vertically integrated utility in the Tampa Bay area of Florida, with 725,000 customers and 4700 MW of generating capacity
  • Emera Caribbean is a utility that serves 227,000 customers in the Caribbean. Its subsidiaries include:

Former Subsidiaries
  • Emera Maine was a utility with 130,000 customers in Maine, created through the merger of Bangor Hydro (acquired in 2002) and Maine Public Service (acquired in 2010).[5] In 2020, Emera Maine was sold to another Canadian utility, ENMAX of Calgary, Alberta.[6] Under ENMAX, the former Emera Maine territory now trades as Versant Power.

Natural Gas Utilities
  • New Mexico Gas is a natural gas utility in New Mexico with 513,000 customers.
  • Peoples Gas is a natural gas utility in Florida with 365,000 customers.

Other Subsidiaries
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References
  1. (PDF) http://investors.emera.com/Cache/1001251000.PDF?Y=&O=PDF&D=&fid=1001251000&T=&iid=4072693. Missing or empty |title= (help)
  2. "Capital Power to sell three U.S. power plants to Emera". Reuters. 2013-08-28. Retrieved 2018-01-11.
  3. "Tampa Electric announces its sale to Canadian company Emera". 2015-09-04. Retrieved 2018-01-11.
  4. Emera - Our Investments. http://www.emera.com/en/home/ourbusiness/corporatestructure/default.aspx. Retrieved August 22, 2013.
  5. "'New name, same commitment' — Bangor Hydro, Maine Public Service to become Emera Maine". Bangor Daily News. Retrieved 2018-01-11.
  6. ENMAX press release: "ENMAX completes purchase of Emera Maine", March 20, 2020.
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