Maine Regulator Confirms Ability to Invest in Transmission and Generation

HALIFAX, Nova Scotia--()--Emera Inc. (TSX: EMA) is pleased to announce that on October 9, 2014, the Maine Public Utilities Commission (MPUC) issued its written decision reinstating its approval of Emera’s investment in Northeast Wind Partners and its investment in Algonquin Power & Utilities Corporation (TSX: AQN).

“We appreciate the clarity provided by the Commission and respect its decision, and the accompanying conditions”

Emera has invested more than $1 billion dollars in the State of Maine. The MPUC’s decision provides confirmation of Emera’s ability to pursue future investments in Maine.

“We appreciate the clarity provided by the Commission and respect its decision, and the accompanying conditions,” said Chris Huskilson, President and CEO, Emera Inc. “The MPUC’s approval allows us to continue to invest in existing and developing clean energy projects in Maine.”

Emera has invested a total of $225 million in Northeast Wind Partners. The partnership, which is a joint venture with First Wind, includes 419 MW of operating wind projects. The partnership was originally approved in 2012, but subsequently appealed. The Maine Supreme Court asked the MPUC to reapply the law in accordance with a test established by the Court. Yesterday’s written decision confirms the approval.

The decision also reconfirms approval for Emera to own 25% of AQN common shares. AQN is an owner and operator of clean energy generation assets across North America.

Forward Looking Information:
This news release contains forward looking information. Actual future results may differ materially. Additional information related to Emera, including the company's Annual Information Form, can be found on SEDAR at www.sedar.com or on EDGAR at www.sec.gov.

About Emera:
Emera Inc. is geographically diverse energy and services company headquartered in Halifax, Nova Scotia with $9.07 billion in assets and 2013 revenues of $2.2 billion. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera's strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera has investments throughout northeastern North America, and in four Caribbean countries. Approximately 80% of the company's reported net income in 2013 came from regulated investments. Emera common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.C, EMA.PR.E, and EMA.PR.F. Additional Information can be accessed at www.emera.com or at www.sedar.com.

Contacts

Emera
Investor Relations:
Scott LaFleur, 902-428-6375
Acting Investor Relations Manager
Scott.lafleur@emera.com
or
Media Relations:
Dina Bartolacci Seely, 902-428-6059
Corporate Communications
dina.bartolacci@emera.com

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