Emera
Canadian energy holding company operating regulated electricity and natural-gas utilities and energy infrastructure across North America and the Caribbean.
Last updated October 16, 2026
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Overview
Emera Incorporated is a publicly traded Canadian energy holding company headquartered in Halifax, Nova Scotia. The company developed from the restructuring and privatization of Nova Scotia Power, the province's former Crown electricity utility, and has grown into a diversified owner and investor in regulated electricity generation, transmission, distribution, and natural-gas distribution assets. Emera's principal business model is based on owning or investing in regulated utilities whose revenues are generally determined through public regulatory processes. Its operations have included vertically integrated electric utilities, gas utilities, transmission assets, pipelines, power-generation facilities, and energy marketing activities. The portfolio has extended beyond Atlantic Canada into the United States and the Caribbean, giving the group a broader geographic footprint while retaining a strong concentration in utility infrastructure. The corporate structure was created in 1998 when shareholders of Nova Scotia Power Incorporated approved a reorganization that placed the regulated utility under a new shareholder-owned holding company. The new company was initially named NS Power Holdings Incorporated. Its shares began trading on the Toronto Stock Exchange and Montreal Stock Exchange in January 1999, and the holding company adopted the Emera name in July 2000. Expansion has occurred through acquisitions and infrastructure investments. In 2013, Emera acquired the Bridgeport Energy, Rumford Power, and Tiverton Power generating stations from Capital Power. The company's most significant transaction was its acquisition of Tampa-based TECO Energy, announced in 2015 and completed in 2016 for approximately US$10.4 billion. TECO's portfolio brought Tampa Electric, Peoples Gas in Florida, and New Mexico Gas Company into Emera's broader group at the time, significantly increasing its presence in the southeastern United States. Emera's electricity operations have included Nova Scotia Power in Nova Scotia and Tampa Electric in the Tampa Bay region of Florida. Its wider infrastructure interests have included the Maritime Link, which transmits power from Newfoundland and Labrador to Nova Scotia; the Brunswick Pipeline; a stake in the Maritimes and Northeast Pipeline; and an interest in the Bear Swamp hydroelectric facility in Massachusetts. Emera Caribbean has held utility interests in Barbados and Saint Lucia, including an equity stake in Light and Power Holdings, the parent of Saint Lucia Electricity Services. The portfolio has also changed over time. Emera Maine, formed from the combination of Bangor Hydro and Maine Public Service, was sold to ENMAX in 2020 and subsequently operated as Versant Power. New Mexico Gas Company and Grand Bahama Power Company are identified as former Emera subsidiaries in the referenced company material. As of the available reference material, Emera remains an active public utility holding company focused on regulated energy infrastructure. Its common shares have historically traded in Canada under the symbol EMA, and in May 2025 the company became dual-listed with trading also beginning on the New York Stock Exchange under EMA.
History
Emera originated in the reorganization of Nova Scotia Power Incorporated, the electricity utility that had previously operated as a provincial Crown corporation in Nova Scotia. On December 2, 1998, Nova Scotia Power shareholders approved a restructuring that created a shareholder-owned holding-company arrangement. The regulated utility was placed under the ownership of a new holding company rather than remaining the direct corporate focus of the previous structure. On December 9, 1998, the company received approval to establish NS Power Holdings Incorporated. On January 1, 1999, shareholders exchanged their Nova Scotia Power shares for shares in the new holding company on a one-for-one basis. NS Power Holdings shares began trading on the Toronto Stock Exchange and the Montreal Stock Exchange on January 6, 1999. The holding company changed its name to Emera Incorporated on July 17, 2000. Following its formation, Emera pursued a strategy of expanding beyond its original Nova Scotia utility base through acquisitions, generation investments, transmission projects, and ownership interests in utilities outside Canada. In 2002, it acquired Bangor Hydro in Maine. It later acquired Maine Public Service in 2010, and the two Maine businesses were combined as Emera Maine. The company also developed or acquired interests in generation and energy infrastructure in Canada and the United States. In 2013, Emera purchased the Bridgeport Energy, Rumford Power, and Tiverton Power plants from Capital Power Corporation. The reported transaction value was $541 million. These assets expanded Emera's generation portfolio in the northeastern United States. A major turning point came on September 4, 2015, when Emera announced its proposed acquisition of TECO Energy, a utility holding company based in Tampa, Florida. TECO's businesses included Tampa Electric, a large vertically integrated electric utility; Peoples Gas, a Florida natural-gas utility; and New Mexico Gas Company. Emera paid approximately US$10.4 billion for TECO, and the acquisition closed in July 2016. The transaction substantially increased Emera's scale and transformed it into a major North American utility group with significant U.S. operations. Emera's broader portfolio has included Nova Scotia Power, Tampa Electric, Peoples Gas, Emera Energy, Emera New Brunswick, and Emera Caribbean. Infrastructure associated with the group has included the Brunswick Pipeline, the Maritime Link transmission system, a stake in the Maritimes and Northeast Pipeline, and a 50 percent interest in the Bear Swamp hydroelectric facility in Massachusetts. Through Emera Caribbean, the group has held interests in Barbados Light and Power Company and a 19.5 percent equity stake in Light and Power Holdings, associated with Saint Lucia Electricity Services. The company has also disposed of assets and changed the composition of its portfolio. In 2020, Emera sold Emera Maine to ENMAX, a Calgary-based Canadian utility. The former Emera Maine service territory subsequently operated under the Versant Power name. New Mexico Gas Company and Grand Bahama Power Company are also identified as former subsidiaries in the referenced material. In May 2025, Emera became dual-listed, with its common shares trading on both the Toronto Stock Exchange and the New York Stock Exchange under the ticker EMA. The company's development reflects a shift from a Nova Scotia-centered utility holding company to a geographically diversified owner of regulated electricity, gas, generation, transmission, and related energy assets.
- 2025
New York Stock Exchange listing begins
[1]Emera became dual-listed, with its shares trading on the New York Stock Exchange under EMA alongside its Canadian listing.
- 2020
Emera Maine sold to ENMAX
[1]Emera sold its Maine utility business to ENMAX. The territory later operated as Versant Power.
- 2016
TECO Energy acquisition completed
[1]The acquisition closed in July, adding major Florida electric and gas operations and the New Mexico Gas Company to Emera's portfolio at the time.
- 2015
TECO Energy acquisition announced
[1]Emera announced its agreement to acquire TECO Energy for approximately US$10.4 billion.
- 2013
Generation assets acquired from Capital Power
[1]Emera acquired the Bridgeport Energy, Rumford Power, and Tiverton Power plants in a transaction reported at $541 million.
- 2000
The holding company adopts the Emera name
[1]NS Power Holdings Incorporated changed its name to Emera Incorporated in July.
- 1999
NS Power Holdings begins public trading
[1]NS Power Holdings Incorporated was established and its common shares began trading on the Toronto Stock Exchange and Montreal Stock Exchange in January.
- 1998
Shareholders approve the holding-company restructuring
[1]Nova Scotia Power shareholders approved a reorganization that created the basis for a shareholder-owned holding company above the regulated utility.
Products and positioning
North American energy infrastructure provider centered on regulated electricity and natural-gas utilities.
Electric utility
Nova Scotia Power
Nova Scotia Power is Emera's vertically integrated electric utility in Nova Scotia. The business generates, transmits, and distributes electricity to customers across the province. The referenced material describes a customer base of approximately 500,000 and generation capacity of about 2,487 megawatts.
Electric utility
Tampa Electric
Tampa Electric is a vertically integrated electric utility serving the Tampa Bay area of Florida. It became part of Emera through the 2016 acquisition of TECO Energy. The referenced material describes approximately 840,000 customers and around 6,000 megawatts of generating capacity.
Natural-gas utility
Peoples Gas
Peoples Gas is a Florida natural-gas distribution utility acquired through the TECO Energy transaction. It serves residential, commercial, and other customers through regulated gas infrastructure. The referenced material identifies approximately 470,000 customers.
Electric transmission
Maritime Link
The Maritime Link is an integrated transmission system operated through Emera Newfoundland & Labrador. It delivers electricity from Muskrat Falls in Labrador through Newfoundland to Nova Scotia and forms part of Emera's interprovincial electricity infrastructure portfolio.
Natural-gas pipeline
Brunswick Pipeline
The Brunswick Pipeline is operated by Emera New Brunswick and forms part of the company's natural-gas transportation infrastructure in Atlantic Canada.
Energy marketing
Emera Energy
Emera Energy is the group's energy trading and marketing business. Its activities include trading and marketing natural gas and electricity, complementing Emera's ownership of utility, generation, transmission, and pipeline assets.
Hydroelectric generation
Bear Swamp Hydroelectric Power Station
Bear Swamp is a hydroelectric power station in northern Massachusetts in which Emera holds a 50 percent ownership interest. The facility is identified as having approximately 600 megawatts of capacity.
Brand decisions
2025
Add a New York Stock Exchange listingStrategyBackground
Emera sought to maintain a broader public-market presence alongside its established Canadian listing.
Action taken
The company began trading on the New York Stock Exchange under the symbol EMA while retaining its Toronto Stock Exchange listing.
Aftermath
Emera became a dual-listed public company in Canada and the United States.
2020
Sell Emera Maine to ENMAXM&ABackground
Emera reviewed its utility portfolio and divested its Maine operating business.
Action taken
Emera sold Emera Maine to ENMAX of Calgary.
Aftermath
The former Emera Maine service territory subsequently operated under the Versant Power name.
2015
Acquire TECO EnergyM&ABackground
Emera pursued a major expansion into U.S. electric and natural-gas utilities.
Action taken
Emera announced an agreement to acquire Tampa-based TECO Energy, including Tampa Electric, Peoples Gas in Florida, and New Mexico Gas Company.
Aftermath
The transaction closed in 2016 and substantially increased Emera's scale and U.S. operating footprint.
Acquisition value. US$10.4 billion (2015 announcement; completed July 2016)
2013
Acquire three power plants from Capital PowerM&ABackground
Emera sought to expand its electricity-generation portfolio beyond its core regulated utility operations.
Action taken
Emera acquired the Bridgeport Energy, Rumford Power, and Tiverton Power plants from Capital Power Corporation.
Aftermath
The transaction increased Emera's generation presence in the northeastern United States.
Transaction value. $541 million (2013)
1998
Create a shareholder-owned utility holding companyStrategyBackground
Nova Scotia Power was being reorganized during the privatization of the province's former Crown electricity utility.
Action taken
Shareholders approved a structure in which the regulated utility would become a wholly owned subsidiary of a new holding company, later named Emera.
Aftermath
The restructuring created the corporate platform through which Emera expanded into additional utility and energy-infrastructure markets.
Recent events
- Unconfirmed
Emera and Canadian Utilities to merge, creating $50B combined company[2]
Reported:
Emera and Canadian Utilities are set to merge, creating a combined company valued at $50 billion.
Bernhard Capital Partners completes acquisition of New Mexico Gas from Emera[3]
Reported:
Bernhard Capital Partners completed its approximately $1.25 billion acquisition of New Mexico Gas Co, the state's largest regulated natural gas utility, from Emera Inc. The New Mexico Public Regulation Commission approved the transaction on July 30, 2026, and NMGC will continue operating under its existing name and management team with headquarters in Albuquerque.
Bernhard Capital Partners completes acquisition of New Mexico Gas Company from Emera[4]
Reported:
Bernhard Capital Partners announced it closed on its previously announced acquisition of New Mexico Gas Company from Emera Inc., following approval from the New Mexico Public Regulation Commission. NMGC will continue operating under its existing name and management team and maintain its headquarters in Albuquerque.
Emera appoints Rick Janega interim CEO of Nova Scotia Power[5]
Reported:
Emera announced that Rick Janega would become interim President and CEO of Nova Scotia Power Inc. effective June 1, 2020.
Sources5 sources
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