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 Nova Scotia Power Inc. is a vertical integration, 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). Nov ...

, 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 was created out of the privatization of the provincial

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. 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.

Subsidiaries

Electric Utilities

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 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 in Barbados ** Grand Bahama Power Company in The Bahamas ** 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 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. 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, 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 Massachusetts, 50% owned by Emera * Emera New Brunswick runs the Brunswick Pipeline, a natural gas pipeline through New Brunswick, Canada * Emera has a 12.5% ownership stake in the Maritimes and Northeast Pipeline

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