1

Emera

#1702

Rank

$9.35B

MarketCap CA

CA Canada

Country

Summary
Emera Incorporated, an energy and services company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments. It generates electricity through coal-fired, natural gas and/or oil, hydro, wind, solar, petroleum coke, and biomass-fueled power plants. The company is also involved in the purchase, transmission, distribution, and sale of natural gas; and the provision of energy marketing, trading, and other energy asset management services. In addition, it transports re-gasified liquefied natural gas from Saint John, New Brunswick to consumers in the northeastern United States through its 145-kilometer pipeline. As of December 31, 2021, the company's electric utilities served approximately 810,600 customers in West Central Florida; 536,000 customers in Nova Scotia; 132,000 customers in the island of Barbados; 19,000 customers in the Grand Bahama Island; and 35,700 customers in the island of Dominica, as well as gas utilities and infrastructure served approximately 445,000 customers across Florida and 542,000 customers in New Mexico. It also provides insurance and reinsurance services to Emera and its affiliates, as well as offers financing services. The company was incorporated in 1998 and is headquartered in Halifax, Canada.

History

Emera was created out of the privatization of the provincial Crown corporation Nova Scotia Power Incorporated . 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 , and New Mexico Gas. Emera paid $10.4 billion for TECO. The deal closed in July 2016.

Subsidiaries

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:

Light and Power Holdings - LUCELEC in St. Lucia

Barbados Light and Power Company in Barbados

Grand Bahama Power Company in The Bahamas

Dominica Electricity Services in Dominica

Former Subsidiaries

Emera Maine was a utility with 130,000 customers in Maine, created through the merger of Bangor Hydro and Maine Public Service . In 2020, Emera Maine was sold to another Canadian utility, ENMAX of Calgary, 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 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 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

See also

Fortis Inc., Another Canadian Maritime Multinational Energy Operator/Investor begun as Newfoundland Light & Power Co.

References

External links

Official sit


Mission
Emera's mission is to deliver natural gas, electricity, and other energy-related services wherever needed in a sustainable manner.

Vision
Emera's vision is to provide clean, reliable, and affordable energy to the world.

Key Team

Mr. Bruce A. Marchand (Chief Risk & Sustainability Officer)

Ms. Karen E. Hutt (Exec. VP of Bus. Devel. & Strategy)

Ms. Lisa Merrithew (VP of Communications & Corp. Affairs)

Mr. Scott LaFleur (Acting Mang., Investor Relations)

Mr. R. Michael Roberts (Chief HR Officer)

Mr. Michael Barrett B.Com., L.L.B., M.B.A. (Exec. VP, Legal & Gen. Counsel)

Mr. Daniel P. Muldoon (Exec. VP of Project Devel. & Operations Support)


Recognition and Awards
Emera has been recognized as one of the world's most sustainable companies by the Global 100 Most Sustainable Corporations in the World and was featured on the World Bank's Global Infrastructure Investor Database.

References
Emera
Leadership team

Mr. Scott Carlyle Balfour (CEO, Pres & Director)

Mr. Gregory W. Blunden F.C.A., FCPA (Chief Financial Officer)

Mr. Richard C. Janega P.Eng. (COO of Electric Utilities, Canada & Caribbean and CEO of Emera Newfoundland & Labrador)

Products/ Services
Energy, Energy Management, Energy Storage
Headquarters
Halifax, Nova Scotia, Canada
Established
1919
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
EMA.TO
Social Media
About

Businessabc provides a digital business directory, resources, a marketplace, and a digital blockchain AI certification for businesses, organisations, and professionals.

Follow Us
Produced by
In collaboration with
Logo

Copyright 2023 © Businessabc powered by ztudium