Emera Incorporated is a publicly traded
Canadian
Canadians (french: Canadiens) are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of ...
multinational energy
holding company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
based in
Halifax, Nova Scotia
Halifax is the capital and largest municipality of the Canadian province of Nova Scotia, and the largest municipality in Atlantic Canada. As of the 2021 Census, the municipal population was 439,819, with 348,634 people in its urban area. The ...
. Created in 1998 during the privatization of
Nova Scotia Power
Nova Scotia Power Inc. is a vertically integrated electric utility in Nova Scotia, Canada. It is privately owned by Emera and regulated by the provincial government via the Nova Scotia Utility and Review Board (NSUARB). Nova Scotia Power Inc pr ...
, a provincial
Crown corporation
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the governmen ...
, Emera now invests in regulated electricity generation as well as transmission and distribution across North America and the Caribbean.
History
![Emera Place](https://upload.wikimedia.org/wikipedia/commons/f/f0/Emera_Place_.jpg)
Emera was created out of the privatization of the provincial
Crown corporation
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the governmen ...
Nova Scotia Power Incorporated
Nova Scotia Power Inc. is a vertically integrated electric utility in Nova Scotia, Canada. It is privately owned by Emera and regulated by the provincial government via the Nova Scotia Utility and Review Board (NSUARB). Nova Scotia Power Inc pro ...
(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
Capital Power is an independent power generation company based in Edmonton, Alberta, Canada. Capital Power develops, acquires, owns and operates power generation facilities using a variety of energy sources. Capital Power owns approximately 6,6 ...
for $541 million.
On September 4, 2015, Emera announced the acquisition of
TECO Energy
TECO Energy Inc. is an energy-related holding company based in Tampa, Florida, and a subsidiary of Emera Incorporated. TECO Energy has several subsidiaries: Tampa Electric Company, which provides electricity to the Tampa Bay Area and parts of C ...
, a utility company based in
Tampa, Florida
Tampa () is a city on the Gulf Coast of the United States, Gulf Coast of the U.S. state of Florida. The city's borders include the north shore of Tampa Bay and the east shore of Old Tampa Bay. Tampa is the largest city in the Tampa Bay area and ...
, 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.
Subsidiaries
Electric Utilities
*
Nova Scotia Power
Nova Scotia Power Inc. is a vertically integrated electric utility in Nova Scotia, Canada. It is privately owned by Emera and regulated by the provincial government via the Nova Scotia Utility and Review Board (NSUARB). Nova Scotia Power Inc pr ...
is a vertically integrated utility in Nova Scotia, with 500,000 customers, and 2487 MW of generating capacity
*
Tampa Electric
TECO Energy Inc. is an energy-related holding company based in Tampa, Florida, and a subsidiary of Emera Incorporated. TECO Energy has several subsidiaries: Tampa Electric Company, which provides electricity to the Tampa Bay Area and parts of C ...
, a vertically integrated utility in the
Tampa Bay area
The Tampa Bay area is a major populated area surrounding Tampa Bay on the west coast of Florida in the United States. It includes the main cities of Tampa, St. Petersburg, and Clearwater. It is the 18th largest metropolitan area in the Unite ...
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
The Caribbean (, ) ( es, El Caribe; french: la Caraïbe; ht, Karayib; nl, De Caraïben) is a region of the Americas that consists of the Caribbean Sea, its islands (some surrounded by the Caribbean Sea and some bordering both the Caribbean Se ...
. Its subsidiaries include:
** Light and Power Holdings - LUCELEC in
St. Lucia
Saint Lucia ( acf, Sent Lisi, french: Sainte-Lucie) is an island country of the West Indies in the eastern Caribbean. The island was previously called Iouanalao and later Hewanorra, names given by the native Arawaks and Caribs, two Amerin ...
**
Barbados Light and Power Company
The Barbados Light & Power Company Limited (BL&P Co.) is a wholly owned subsidiary of Emera Caribbean and currently the sole electricity utility provider in the country of Barbados. It started operations on 17 June 1911. The company claims it ...
in
Barbados
Barbados is an island country in the Lesser Antilles of the West Indies, in the Caribbean region of the Americas, and the most easterly of the Caribbean Islands. It occupies an area of and has a population of about 287,000 (2019 estimate). ...
** Grand Bahama Power Company in
The Bahamas
The Bahamas (), officially the Commonwealth of The Bahamas, is an island country within the Lucayan Archipelago of the West Indies in the Atlantic Ocean, North Atlantic. It takes up 97% of the Lucayan Archipelago's land area and is home to ...
** Dominica Electricity Services in
Dominica
Dominica ( or ; Kalinago: ; french: Dominique; Dominican Creole French: ), officially the Commonwealth of Dominica, is an island country in the Caribbean. The capital, Roseau, is located on the western side of the island. It is geographically ...
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). In 2020, Emera Maine was sold to another Canadian utility,
ENMAX
Enmax Corporation (often styled as ENMAX) is a vertically integrated utility that generates and distributes electricity, natural gas, renewable energy, and value-added services to customers in Alberta, Canada.
Overview
Enmax, headquartered in C ...
of
Calgary
Calgary ( ) is the largest city in the western Canadian province of Alberta and the largest metro area of the three Prairie Provinces. As of 2021, the city proper had a population of 1,306,784 and a metropolitan population of 1,481,806, makin ...
,
Alberta
Alberta ( ) is one of the thirteen provinces and territories of Canada. It is part of Western Canada and is one of the three prairie provinces. Alberta is bordered by British Columbia to the west, Saskatchewan to the east, the Northwest Ter ...
.
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
Peoples Gas (short for The Peoples Gas Light and Coke Company) is a gas utility subsidiary of WEC Energy Group servicing the city of Chicago, Illinois and its northern suburbs.
History
Established in 1849, in Chicago, Illinois, The Peoples Gas ...
is a natural gas utility in Florida with 365,000 customers.
Other Subsidiaries
* Emera Energy trades and markets natural gas and electricity. Power plants owned include:
**
Bear Swamp Hydroelectric Power Station
Bear Swamp Generating Station or Jack Cockwell Station is a pumped-storage hydroelectricity, pumped-storage hydroelectric underground power station that straddles the Deerfield River in Rowe, Massachusetts, Rowe and Florida, Massachusetts, Florida, ...
, a 600 MW
hydro-electric plant
Hydroelectricity, or hydroelectric power, is electricity generated from hydropower (water power). Hydropower supplies one sixth of the world's electricity, almost 4500 TWh in 2020, which is more than all other renewable sources combined and ...
in northern
, 50% owned by Emera
* Emera New Brunswick runs the
Brunswick Pipeline
__NOTOC__
The Brunswick Pipeline is a natural gas transmission pipeline in the Canadian province of New Brunswick.
It runs from the Canaport liquified natural gas (LNG) receiving and regasification terminal at Red Head in east Saint John, NB t ...
, a natural gas pipeline through
New Brunswick
New Brunswick (french: Nouveau-Brunswick, , locally ) is one of the thirteen provinces and territories of Canada. It is one of the three Maritime provinces and one of the four Atlantic provinces. It is the only province with both English and ...
, Canada
* Emera has a 12.5% ownership stake in the
Maritimes and Northeast Pipeline
The Maritimes and Northeast Pipeline is a natural gas transmission pipeline that runs from the Sable Offshore Energy Project (SOEP) gas plant in Goldboro, Nova Scotia, Canada to Dracut, Massachusetts, United States.
The mainline pipeline runs ...
See also
*
Fortis Inc.
Fortis Inc. is a St. John's, Newfoundland and Labrador-based international diversified electric utility holding company. It operates in Canada, the United States, Central America, and the Caribbean. In 2015, it earned .
Fortis was formed in 198 ...
, Another Canadian Maritime Multinational Energy Operator/Investor begun as
Newfoundland Light & Power Co.
References
#
External links
Official site
{{Authority control
Companies listed on the Toronto Stock Exchange
Electric power companies of Canada
S&P/TSX 60
Companies based in Halifax, Nova Scotia
Natural gas pipeline companies
Natural gas companies of Canada
Year of establishment missing