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Emera Applauds NS Government's New Energy Strategy

(EMA - TSE) - Emera Inc. believes that the Nova Scotia Government's Energy Strategy, announced today, lays out a coherent framework for the further development of a vital and effective energy sector in Nova Scotia.

"This is an exciting time for Emera and Nova Scotia," said David Mann, President and CEO of Emera Inc. "We applaud the Government's leadership in developing an Energy Strategy that supports the interests of all Nova Scotians. And we are particularly pleased that it announces the creation of a Department of Energy and the appointment of an Energy Minister. Clearly, strong leadership is the foundation for growth of our energy sector."

As a major Atlantic Canadian company involved in the development of our diversified energy resources, Emera has both a special opportunity and responsibility to play. It was an active participant in the Government-led process and benefited greatly from consultations with customers.

"We felt the public policy process that brought us to this stage was comprehensive and effective. We are now looking forward to working with the new Energy Minister and the Marketplace Governance Committee" said Mann.

As a key local player in Nova Scotia's offshore oil and gas industry, Emera is pleased that the Strategy focuses on maximizing the value of the province's offshore resources. A commitment to streamlining provincial regulations and removing inefficiencies and overlap is also an important step.

A main focus of the Energy Strategy is the introduction of a competitive electricity market. "Emera welcomes competition, and believes the Strategy outlines a staged and carefully managed approach to electricity restructuring that is in line with our customers' demands for choice and reliability," commented Mann.

Green power initiatives were also highlighted, including a new voluntary renewable energy target of 2.5% of Nova Scotia Power's current capacity. "Our customers have told us they want a renewable energy choice," said Mann. "Our development of wind power actively supports both this and the requirement to reduce air emissions."

"Overall, this is a positive framework. Emera looks forward to working closely with our customers, industry partners and government to implement this strategy," said Mann.