EMERA Business Summary

Emera Inc. (EMA) operates a high-density energy services business model primarily centered on cost-of-service, rate-regulated utilities, which provide predictable, recurring revenue through long-term infrastructure investments. The company’s primary business segments include Florida Electric Utility (Tampa Electric), Canadian Electric Utilities (Nova Scotia Power), Gas Utilities and Infrastructure (Peoples Gas and New Mexico Gas), and Other Electric Utilities (Caribbean operations in Barbados and the Bahamas), supplemented by Emera Energy’s marketing and trading operations. Emera differentiates itself through a $20 billion capital plan (2026–2030) focused on decarbonization and grid modernization, positioning it as a leader in the North American energy transition. Its primary direct competitors include Fortis Inc., NextEra Energy (Florida Power & Light), Duke Energy Florida, and Algonquin Power & Utilities; within this landscape, Emera ranks as a top-20 North American utility holding company, leveraging a geographically diverse footprint to balance regional regulatory risks. Emera was established in 1998 as a corporate holding company following the privatization of Nova Scotia Power, evolving from a provincial crown corporation into a multinational entity. The leadership team is led by President and CEO Scott Balfour, who joined in 2012 and previously served as President of Aecon Group, and Chief Financial Officer Jared Green, appointed in December 2025 after serving as CEO of TriSummit Utilities. Technology and digital strategy are directed by Chief Digital Officer Chris Heck, a 35-year utility IT veteran. The company’s governance is anchored by Independent Board Chair Karen Sheriff and a high-pedigree board including Isabelle Courville (former President of Hydro-Québec Distribution) and Brian Porter (former CEO of Scotiabank). Notable institutional backers include Fidelity International (FIL Ltd), Vanguard Group, and major Canadian financial institutions like RBC and BMO, who collectively hold over 50% of the company’s equity.