Electricity is at the heart of Emera’s business.
For almost a century Nova Scotia Power Inc., a subsidiary of Emera, has been the primary supplier of safe and reliable power to Nova Scotians. In 2001, Bangor Hydro Electric Company was acquired to provide a secure source of electricity for 156,000 customers in eastern Maine. Emera also owns 19.1% of St. Lucia Electricity Services Limited (LUCELEC), an electricity utility serving more than 50,000 customers on the Caribbean island of St. Lucia, and 80.4% of Grand Bahama Power Company, which serves 19,500 customers on the Caribbean island of Grand Bahama.
Emera continues to grow and diversify.
Pushing into the New England energy market, Emera has a 50% joint venture interest in Bear Swamp, a hydro-electric facility in Massachusetts. It has also acquired a 12.9% interest in the Maritimes & Northeast Pipeline and has built the Brunswick Pipeline. Both transport natural gas to customers in Atlantic Canada and the northeast US. Emera also owns Emera New Brunswick; Emera Energy Services, an energy management company; Emera Utility Services, the largest utility services contractor in Atlantic Canada; Bayside Power, a gas-fired power plant located in Saint John, New Brunswick; a 7.5% interest in OpenHydro, a renewable tidal energy company; and Emera Newfoundland & Labrador, a wholly owned subsidiary.
Progress is made in creating shareholder value.
Emera Inc. (EMA-TSX), with $7.53 billion in assets and 2012 revenues of $2.1 billion, is generating results for its shareholders and its customers. It is gaining strategic footholds in new markets as it adds to its diverse and dynamic portfolio of energy supply subsidiaries. Emera is building greater capacity to meet stakeholders’ needs and pursuing new opportunities to meet tomorrow’s energy requirements.