EMERA AT A GLANCE TICKER SYMBOL EMA (TSX) Five Year Annualized Total Shareholder Return 15.7% (For Period Ended May 31, 2015) (S&P TSX Utilities Index 8.7%) TTM Total Shareholder Return 26.1% (For Period Ended May 31, 2015) (S&P…
NOVA 4.49 billion EMERA 1.41 billion SCOTIA in assets MAINE in assets POWER 32% of earnings (100%) 11% of earnings (100%) 44.1% of assets 13.8% of assets RI RI Emera (Caribbean) EUS Bahamas EMERA 1.24 billion Incorporated(80.6%)…
Investor Presentation July 2015 Strategic Overview 4
EMERA STRATEGY MARKET OPPORTUNITY: Environmental Regs & Standards Demand For Cleaner Affordable Energy Social & Political Demand DRIVERS Fuel-Source Diversification Energy Independence & Stability EMERA STRATEGY: Leverage the…
Investor Presentation July 2015 Major Initiatives 6
LOWER CHURCHILL Phase 1 and Maritime Link MUSKRAT FALLS (MF) GENERATION & LABRADOR TRANSMISSION (LTA) 4.2 billion project value 824 MW hydroelectric facility 4.9 TWh/yr 100% Nalcor owned LABRADOR ISLAND LINK (LIL) 2.79 billion…
PROJECT COST CERTAINTY Maritime Link Cost Confidence 8% Contracts Negotiated & Costs Secured 14% Contract Prices in Hand & Owner's Costs Incurred to Date 78% Contracts to be Negotiated and Owner's Costs Remaining…
TIMING OF INVESTMENTS Maritime Link and Labrador Island Link (in millions of CAD) Maritime Link - Equity Maritime Link - Debt 431 Labrador Island Link - Equity 342 177 146 175 120 68 147 150 50 27 33 80 22 2011-2012…
EMERA ENERGY Marketing and Trading Supports Emera Strategy A Strategic Business, Capitalizing on Opportunity Extensive expertise in northeast gas market; contractually enabled with over 200 counterparties Hedging and Risk Management…
GAS GENERATION IN NEW ENGLAND Facility Bridgeport Tiverton Rumford Capacity (MW) 560 265 265 Location Connecticut Rhode Island Maine Creating New Value Established Long-term Service Agreement with Siemens, the turbine…
VISIBLE EARNINGS GROWTH EARNINGS CONTRIBUTION INCREASE OF APPROXIMATELY 117 MILLION AFTERTAX BETWEEN 2014 AND 2018 86 71 NEGG Capacity Payments Maritime Link & Labrador island Link 22 18 2014 2018 APPROXIMATE EARNINGS…
CAPITAL INVESTMENT PROFILE - OPPORTUNITIES Project Pipeline Northeast Transmission Development Tiverton Upgrade 1,294 Maritime Gas Investments 1,196 69 Smart Grid Investments Bay of Fundy Tidal 201 978 698 130 539 377 30 37…
NORTHEAST TRANSMISSION DEVELOPMENT PHASE I - AC TRANSMISSION UPGRADES DELIVERING WIND AND SURPLUS HYDRO MUSKRAT FALLS (MF) LABRADOR ISLAND GENERATION & LABRADOR LINK (LIL) TRANSMISSION (LTA) Emera Maine/Central Maine Power MOU MOU…
NORTHEAST TRANSMISSION DEVELOPMENT PHASE II HVDC TRANSMISSION, BACKED BY SURPLUS HYDRO AND WIND MUSKRAT FALLS (MF) GENERATION & LABRADOR LABRADOR ISLAND NEW ENGLAND ELECTRICTY MARKET TRANSMISSION (LTA) LINK (LIL) Strong interest in…
GAS TO MARITIMES LOCAL MARKET Corridor Resources Canaport LNG Sable Offshore Energy Deep Panuke 16
GAS TO MARITIMES STRATEGIC FOCUS Source gas supply for Emeras Canadian Markets; Work is underway to examine the potential for each of the remaining supply sources. SUPPLY OPTIONS Marcellus supply via new and existing pipeline…
SMART GRID SMART GRID INITIATIVES Pursuing smart grid opportunities in Atlantic Canada, Maine & Barbados. These include: Oil displacement through heat pump initiatives; Heat pump installations now 20,000/year (Emera Maine &…
Regulated Utilities (Electric & Gas) Regulated Investments Continue to be important; target of 75-85% regulated earnings; Renewed interest with P/E multiples declining in US. 19
TIDAL POWER & OCEAN ENERGY Emera part of a group, led by OpenHydro (a DCNS company), to deploy multi-phase tidal array in Bay of Fundy. Goal is to develop a commercial tidal industry in the region. Phase: 1 (2015): 4 MW array. 2…
Investor Presentation July 2015 Financial Update 21
3.47B CAPITAL PLAN (Committed) 2015-2017 3.47B 1,294 1,196 69 201 978 698 130 539 377 30 37 36 456 527 471 504 390 396 2015 2016 2017 2018 2019 2020 Base Utilities Emera Newfoundland Other NOTES: Amounts exclude…
STRONG OPERATING CASH FLOW (in millions of CAD) 763 727 564 488 419 400 398* 2010 2011 2012 2013 2014 Q1 2015 TTM * 2012 operating cash flows reflect a 90 million voluntary contribution to Nova Scotia Powers pension…
FINANCING EMERAS CAPITAL PLAN Sources of Capital (2015 to 2017) Minimal to no common equity Common Equity FINANCING PLAN FOR 3.47B required to fund capital program 0 to 0.25B and the 6% annual dividend CAPITAL PLAN (2015 2017) growth…
EMERAS CAPITAL STRUCTURE AND FINANCING ACTIVITY Capital Structure FINANCING PLAN CONSIDERATIONS Q1 2015 9% ** Focus on driving cash flow & cash from internal sources Eye on rating agency metrics (FFO/Debt, Debt/EBITDA, Debt 48% %…
SUMMARY WHY INVEST IN EMERA 75-85% regulated earnings target. STABLE EARNINGS Adjusted earning per share CAGR of 7.6% over last 5 years. 6% Annual Growth Rate target through 2019. DIVIDENDS Dividend Yield of 4.1%; Dividend per…
Contact Information Investor Relations Contact: Scott LaFleur, MBA, CMA Acting Manager, Investor Relations Direct: 9024286375 Email: scott.lafleuremera.com 29
Investor Presentation July 2015 Appendix 30
REGULATED RETURNS UTILITY RATE BASE ROE or EQUITY RATIO ALLOWABLE (BILLIONS) RETURN ON RETURNS RATE BASE Nova Scotia 3.7 ROE 37.5-40.0% 8.75-9.25% Power Emera Maine - 0.4 ROE 62% (2014) 10.57-11.74% Transmission Emera Maine -…
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