2003 News Releases

Emera Completes Sale of Sable Infrastructure to Pengrowth
HALIFAX, Nova Scotia, December 31, 2003 (TSX:EMA): Emera Inc. (TSX:EMA) has completed the sale of its 8.4% interest in the Sable Offshore Energy Project (SOEP) offshore platforms and associated sub-sea field gathering lines to Pengrowth Corporation for $65 million, Emera's approximate book value.
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Supreme Court of Canada Grants Leave to Appeal
HALIFAX, Nova Scotia, November 20, 2003 (TSX:EMA):The Supreme Court of Canada has ruled in favor of Nova Scotia Power Inc.'s (NSPI) application for permission to appeal the Federal Court of Canada's ruling that overturned a Tax Court of Canada's decision in the company's favour.
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Emera Reports Third Quarter Earnings Of $11.5 Million
$4.0 Million Earnings Impact from Hurricane Juan
HALIFAX, Nova Scotia, November 7, 2003, (TSX:EMA): Emera Inc.'s consolidated earnings were $11.5 million in the third quarter of 2003, compared to $16.2 million for the same period in 2002.
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Emera Sells Interest In Sable Infrastructure To Pengrowth
HALIFAX, Nova Scotia, October 31, 2003 (TSX:EMA): Emera Inc. (TSX:EMA) has sold its 8.4% interest in the Sable Offshore Energy Project (SOEP) offshore platforms and associated sub-sea field gathering lines to Pengrowth Corporation for $65 million, Emera's approximate book value.
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Emera Approves Quarterly Dividend
HALIFAX, Nova Scotia, October 3, 2003 (TSX:EMA): The Board of Directors of Emera Inc. today approved a quarterly dividend of $0.2150 per common share. The dividend is payable on and after November 14, 2003 to common shareholders of record at the close of business on October 30,  2003.
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Nova Scotia Power Issues $100 Million In New Medium Term Notes
HALIFAX, Nova Scotia, September 30, 2003 (TSX:EMA): Yesterday, Nova Scotia Power completed the issue of $100 million new Series T Medium Term notes. The Series T notes bear interest at the rate of 5.75% and yield 5.771% per annum until October 1, 2013.
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Nova Scotia Power Issues $200 Million In New Medium Term Notes
HALIFAX, Nova Scotia, August 25, 2003 (TSX:EMA): Today, Nova Scotia Power announced it issued $200 million of new Series S Medium Term Notes. The Series S notes bear interest at the rate of 6.95% and yield 7.076% per annum until August 25, 2033.
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Emera's Standard & Poor's Ratings Affirmed
Emera and Nova Scotia Power Maintain BBB+/Stable Rating
HALIFAX, Nova Scotia, August 19, 2003, (TSX:EMA): Today, Standard & Poor's affirmed all its ratings on Emera Inc, and Nova Scotia Power, including the BBB+ long-term corporate credit rating and removed the company from CreditWatch. This comes during an industry-wide review of regulated energy companies in Canada, which Standard & Poor's began in March of this year.
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Emera Reports Second Quarter Earnings of $15.5 Million
Company Expecting Strong 2003
HALIFAX, Nova Scotia, July 30, 2003, (TSX:EMA): Emera Inc.'s consolidated net earnings were $15.5 million in Q2 2003, compared to $15.7 million in Q2 2002.
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Huskilson Named Chief Operating Officer Of Emera
Halifax, NS July 8, 2003: David Mann, President and Chief Executive Officer of Emera, Inc., (TSX-EMA) today announced the appointment of Chris Huskilson to the newly created position of Chief Operating Officer (COO) of Emera. Mr. Huskilson previously served as COO of Nova Scotia Power Inc., Emera's largest subsidiary.
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Emera Approves Quarterly Dividend
Halifax, NS July 4, 2003: The Board of Directors of Emera Inc. (TSX: EMA) today approved a quarterly dividend of $0.2150 per common share. The dividend is payable on and after August 15, 2003 to common shareholders of record at the close of business on July 31, 2003.
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Nova Scotia Power Inc. Approves Preferred Share Quarterly Dividends
TSX: NSI.PR.C, NSI.PR.D
Halifax, NS July 4, 2003: The Board of Directors of Nova Scotia Power Inc. today approved a quarterly dividend of $0.30625 per Nova Scotia Power Incorporated Series C First Preferred Share for the quarter ending September 30, 2003 payable on and after October 1, 2003 to Series C preferred shareholders of record September 17, 2003
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WVDA Hosting Public Forum on Climate Change
Halifax, NS June 17, 2003: On Saturday, June 28th, 2003, from 1:30-4:30, leading Nova Scotians will be discussing the impact of climate change, and how Nova Scotians should respond.
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Management Change at Emera
HALIFAX, Nova Scotia, May 14, 2003, (TSX:EMA): Emera Inc. announced today that Wayne Rousch, Senior Vice-President Business Development has resigned from the Company effective May 31, 2003 to pursue other opportunities in western Canada.
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Emera Q1 Earnings Rebound To $54.7 Million
Higher Sales and Strong Gas Prices Fuel Increase
HALIFAX, Nova Scotia, April 24, 2003, (TSX:EMA): Emera Inc.'s consolidated net earnings increased to $54.7 million in Q1 2003, compared to $33.6 million in Q1 2002.
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Emera Approves Quarterly Dividend
Halifax, NS April 4, 2003: The Board of Directors of Emera Inc. (TSX:EMA) today approved a quarterly dividend of $0.2150 per common share.
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Nova Scotia Power Inc. Approves Preferred Share Quarterly Dividends
TSE: NSI.PR.C NSI.PR.D
Halifax, NS April 4, 2003: The Board of Directors of Nova Scotia Power Inc. today approved a quarterly dividend of $0.30625 per Nova Scotia Power Incorporated Series C First Preferred Share for the quarter ending June 30, 2003 payable on and after July 1, 2003 to Series C preferred shareholders of record June 17, 2003
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Emera Reports 2002 Earnings of $83.6 Million
Revenues Top $1.2 Billion; Operating Cash Flow Reaches $256.0 Million
HALIFAX, Nova Scotia, February 7, 2003, (TSX:EMA): Emera Inc.'s consolidated net earnings were $83.6 million for the year ended December 31, 2002, compared to $114.2 million in 2001.
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Appeal Court Overturns Decision on Nova Scotia Power's Tax Case
Disallows NSPI Claim, Company To Appeal to Supreme Court of Canada
HALIFAX, Nova Scotia, January 27, 2003: Nova Scotia Power Inc. (NSPI) said today it is seeking leave to appeal to the Supreme Court of Canada the recent Federal Court ruling that overturned a Tax Court of Canada decision in the company's favour.
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Emera Inc. Reduces Workforce by 50
Halifax, January 23, 2003: Emera Inc. announced today that it is reducing its workforce by 50 people. Following the reduction the total workforce will be approximately 2,500.
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Emera Approves Quarterly Dividend
Halifax, January 10,2003: The Board of Directors of Emera Inc. today approved a quarterly dividend of $0.2150 per common share.  
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NSPI Approves Preferred Share Quarterly Dividends
TSX: NSI.PR.C, NSI.PR.D
Halifax, January 10, 2003: The Board of Directors of Nova Scotia Power Inc. today approved a quarterly dividend of $0.30625 per Nova Scotia Power Incorporated Series C First Preferred Share for the quarter ending March 31, 2003 payable on and after April 1, 2003 to Series C preferred shareholders of record March 18, 2003
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