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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
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