Halifax-Based Emera’s Acquisition of TECO Energy Creates a North American Top 20 Utility

Emera Inc

Emera Inc. and TECO Energy, Inc. have announced an agreement for Emera to acquire TECO Energy, creating a North American energy leader with US$20 billion of assets and 2.4 million electric and gas customers. The transaction transforms Emera from a regional to North American energy leader. The transaction is expected to close by mid-2016.
Emera is an international energy and services company headquartered in Halifax, NS. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy, utility services, energy marketing and trading services and other energy-related management services.

The transaction creates a top 20 North American regulated utility with geographic diversity and significant growth potential. Of Emera’s US$20 billion in assets, 56% will be in Florida, 23% in Canada, 10% in New England, 6% in New Mexico, and 5% in the Caribbean.

“Our patient approach, and disciplined investment criteria have resulted in a pure-play regulated utility transaction that we expect to be significantly accretive for Emera’s shareholders and one that advances our strategic objectives,” says Chris Huskilson, President and CEO of Emera Inc. “We have found our ideal match in TECO Energy.”

Find out more: http://investors.emera.com/file.aspx?IID=4072693&FID=30965484

Related Articles


Latest Articles

  • The Non-Residential Sector Declines in All Three Components Despite Sustained Industrial Permit Level

    The Non-Residential Sector Declines in All Three Components Despite Sustained Industrial Permit Level

    November 4, 2024 The total value of building permits in Canada decreased by $858.1 million (-7.0%) to $11.5 billion in August, following a strong July during which construction intentions rose sharply (+20.8%). The residential and non-residential sectors contributed to the decrease in August. On a constant dollar basis (2017=100), the total value of building permits decreased 7.6% in… Read More…

  • A Slight Decrease in Residential Building Construction for August

    A Slight Decrease in Residential Building Construction for August

    November 4, 2024 Investment in building construction edged up 0.2% to $21.0 billion in August, after a 1.6% decrease in July. The residential sector edged down (-0.1%) to $14.6 billion, while the non-residential sector was up 1.0% to $6.4 billion. Year over year, investment in building construction grew 7.2% in August. On a constant dollar basis (2017=100), investment in building construction was… Read More…

  • When a Familiar Door Closes

    When a Familiar Door Closes

    November 4, 2024 By Keith Sones, seasoned utility industry executive Most of the articles I’ve written have been based on personal experiences, many of them occurring decades ago, which eventually translate into helpful life lessons. The years allow the events to marinate in a savoury stew of time and reflection, clarity never coming immediately, or even… Read More…

  • Regulatory Changes to Manitoba Apprenticeship and Certification System

    Regulatory Changes to Manitoba Apprenticeship and Certification System

    November 4, 2024 Effective October 30, 2024, Manitoba’s apprenticeship and certification system will undergo regulatory changes. These changes aim to enhance responsiveness to industry needs, align with Red Seal standards, and improve the quality of apprentice training and safety. Go HERE for more information Source Read More…


Changing Scene