Emera Incorporated
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in mil. unless spec.Company Description
- CEO
- Scott Carlyle Balfour
- Full Time Employees
- 7,800
- Sector
- Utilities
- Industry
- Electric utilities
- Address
- 1223 Lower Water Street Halifax NS Canada B3J 3S8
- IPO Date
- Aug 12, 1992
- Website
- emera.com
- Similar Companies
- Business
- Emera Incorporated is a diversified energy and services enterprise, headquartered in Halifax, Canada, engaged in the generation, transmission, and distribution of electricity for a broad customer base. Established in 1998, the company operates across distinct segments including Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and other related activities. Emera's operations encompass a varied electricity generation portfolio, utilizing sources such as natural gas, coal, hydro, wind, solar, oil, and biomass. The company delivers essential energy to approximately 2.6 million utility customers throughout Canada, the United States, and the Caribbean. Its electric utilities serve around 840,000 customers in West Central Florida, 500,000 in Nova Scotia, and 227,000 customers across the Caribbean islands including Barbados, Grand Bahama, Dominica, and St. Lucia. The Gas Utilities and Infrastructure segment provides services to approximately 470,000 customers in Florida, with the New Mexico Gas Company, serving 540,000 customers, currently under an agreement for sale expected to finalize in 2025. Additionally, Emera is involved in the transportation of natural gas, notably through its Brunswick Pipeline, and offers energy marketing, trading, and asset management services. With a strategic focus on transitioning from high-carbon to low-carbon energy, Emera has set a vision for net-zero CO2 emissions by 2050, aiming for a 55% reduction by the end of 2025 and an 80% reduction by 2040, compared to 2005 levels. This commitment is supported by a substantial $20 billion five-year capital plan through 2029, primarily dedicated to investments in grid reliability, modernization, and growth, with a significant portion allocated to Florida operations. Recent initiatives include expanding solar capacity at Tampa Electric and developing battery storage projects at Nova Scotia Power.
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