Emera Inc. (TSX:EMA) will host its annual Investor Day, available via live webcast. The event will include an update on Emera’s strategic priorities and growth outlook, highlighting the company’s role as a leading North American provider of essential energy services. It will also discuss how Emera is competitively positioned to pursue new growth opportunities and meet the evolving demands in the electric and gas utility sectors.
Investor Day Discussion Highlights
- Five-Year Capital Investment Plan and Funding Plan Unveiled: $20 billion investment over five years, marking the largest in Emera’s history.
- Expected Rate Base Growth Confirmation: 7-8% average annual growth rate through 2029.
- Adjusted Earnings Per Share – Basic (“Adjusted EPS1”) Growth Target Reinforcement: 5-7% average annual adjusted EPS1 growth through 2027 off a $2.96 base2.
- Tampa Electric’s Rate Case Outcome: On December 3, the Florida Public Service Commission approved essentially all of Tampa Electric’s capital plan based upon a midpoint return on equity of 10.5%, with an allowed range of 9.5% to 11.5%. Final rate details reflecting this decision are expected to be determined by the FPSC on December 19 and will take effect in January, 2025.
“It’s been a transformative year for Emera, marked by significant milestones in our ambitious journey to drive growth and enhance shareholder value,” said Scott Balfour, President and CEO, Emera. “We’re not only prepared for the future; we’re actively shaping it. We see substantial growth opportunities ahead, and with our proven track record and strategic vision, we’re poised to seize them and deliver strong results for our company, shareholders and customers.”
Capital Plan Overview
Emera will outline its five-year $20 billion capital plan of which 80% will be spent in Florida, reflecting the state’s strong economic and population growth. The capital plan focuses on three critical customer-focused initiatives that will continue to position the company for growth, including:
- Grid Reliability and Infrastructure Modernization: Investments in transmission and distribution as well as the expansion of and reliability of natural gas infrastructure. These investments support customer growth and increase reliability, efficiency and resilience to better support evolving customer needs.
- Technological Innovations: Strategic customer-focused investments in new technology to help advance greater operational efficiency, cost savings and enhance service delivery across Emera’s operating companies.
- Renewables Integration: Investments in solar, hydro, wind and grid-scale battery storage to help reduce customer exposure to volatile fuel prices and an expansion of renewable natural gas projects at Peoples Gas as part of broader infrastructure upgrade efforts. The investments will also support efforts to meet government mandated clean energy targets in Nova Scotia.
Investor Day will feature key leaders from Emera and its largest operating companies, Tampa Electric, Peoples Gas and Nova Scotia Power, who will provide new insights into Emera’s strategic focus, collaborative approach and strong governance. The discussion will highlight how being part of Emera benefits these operating companies, empowering them to safely deliver for customers, investors and employees, meeting the unique needs of their local communities and in turn, deliver more value and growth for investors.
Operating company leaders will outline details about the growth opportunities in their respective markets that are built upon increasing demand for electricity and gas, and growing populations.
Emera’s CFO will share new details about the company’s funding plan to support its ongoing growth and deliver long-term value to shareholders.
Investor Day will provide additional insight into grid modernization projects underway across operating companies. These include investments in new technologies to enable a modern grid that will support the bidirectional flow of both electricity and data, be future proofed for the increased energy demands of tomorrow, increase reliability and provide greater control for customers.
