Emera (EMA) Investor Day 2024 summary

Strategic highlights and business transformation

• Executed strategic capital reallocation, divesting non-core assets and focusing on high-growth markets, notably Florida, while maintaining a robust capital profile and ongoing dividend growth.

• Announced intention to dual-list on the NYSE in 2025 to enhance U.S. investor access and liquidity.

• Ongoing focus on customer-centric innovation, including smart meters, advanced field devices, and private LTE networks.

• Sale of New Mexico Gas Company expected to close in late 2025, with proceeds supporting deleveraging and capital investments.

• Commitment to clean energy transition, targeting 80% renewable electricity sales and 53% GHG reduction in Nova Scotia by 2030.

Growth drivers and capital investment plan

• Five-year capital plan totals $20 billion for 2025–2029, with nearly 80% allocated to Florida and 20% to Nova Scotia, targeting 7%-8% rate base CAGR through 2029.

• Major investments include $13.2B in grid modernization and reliability, $3.5B in renewables and storage, and $2.1B in technology and customer initiatives.

• 55% of capital spend allocated to transmission, distribution, and gas infrastructure to enhance reliability and support customer growth.

• Tampa Electric and Peoples Gas expect customer growth of 2–4% annually; Nova Scotia Power focuses on T&D and grid reliability.

• No new generation CapEx planned for Nova Scotia; focus is on T&D, storage, and reliability, with generation growth led by independent producers.

Operational excellence, innovation, and customer focus

• Grid modernization initiatives include advanced distribution infrastructure, automation, distributed intelligence, and private LTE networks to enhance reliability and efficiency.

• Collaboration across operating companies accelerates best practice sharing in safety, talent, and regulatory strategy.

• Peoples Gas leverages its statewide footprint and customer relationships to drive residential and commercial growth, with a focus on renewable natural gas and energy solutions.

• Tampa Electric's investments in grid hardening and modernization have improved reliability by 31% over five years, targeting 30 minutes of outage per customer by 2030.

• Nova Scotia Power's capital plan emphasizes affordability, creative financing, and operational efficiency, with significant government and Indigenous partnerships.