HALIFAX, Nova Scotia--(BUSINESS WIRE)--
Today NSP Maritime Link Inc. (NSPML), a subsidiary of Emera Inc.(TSX -
EMA), received the Nova Scotia Utility and Review Board (UARB) decision
on the Maritime Link Project. The UARB has approved the Maritime Link
Project subject to certain conditions; including an assurance that
additional market-priced energy will be made available to Nova Scotians.
The UARB decision can be found at: http://nsuarb.novascotia.ca
“We have received the decision of the UARB,” stated Chris Huskilson,
President and CEO, Emera Inc. “We are currently reviewing the decision
and the conditions the Board has attached to the approval. The
conditions require further analysis and discussion and we will take the
time required to do so. In the meantime we continue to refine final
construction estimates and work continues on the Project.”
“The Maritime Link has gone through a rigorous regulatory process,” said
Mr. Huskilson. “The Board concluded that the Maritime Link is the lowest
long-term cost energy solution for Nova Scotia customers, conditional
upon market-priced energy being sourced from Nalcor or some other
arrangement that ensures access to such energy.”
NSPML filed the project application in January of this year and UARB
hearings were held in June. The UARB approval is one of two regulatory
processes that the Maritime Link undertook this year. The Environmental
Assessment release was received on June 21, 2013.
The Maritime Link Project
The Maritime Link is a proposed 500 MW high voltage direct current
(HVdc) transmission line between Nova Scotia and Newfoundland and
Labrador. The Project will include two 180 km subsea cables across the
Cabot Strait, with almost 50 km of overland transmission in Nova Scotia
and close to another 300 km of overland transmission on the island of
Newfoundland. To learn more visit www.emeranl.com.
About Emera
Emera Inc. is an energy and services company with $7.53 billion in
assets and 2012 revenues of $2.1 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 three Caribbean countries.
More than 80% of the company's earnings come 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, and EMA.PR.E. Additional information can be accessed at emera.com,
or on sedar.com.
Emera
Media:
Sasha Irving, 902-229-5104
Sasha.irving@emera.com
or
Investor
Relations:
Jill MacDonald, 902-489-6876
Jill.Macdonald@emera.com
Source: Emera