Scott Balfour

Scott Balfour has served as President and CEO of Emera Inc. since 2018. Emera is a diversified energy company headquartered in Halifax, Nova Scotia, with approximately $39 billion in assets serving 2.5 million customers across North America and the Caribbean. The company's largest and most valuable asset is Tampa Electric (TECO Energy), acquired in 2016 for approximately $10.4 billion — a transformative deal that shifted Emera's center of gravity from Atlantic Canada to the fast-growing Florida market. Balfour's strategic priorities include optimizing the performance of Tampa Electric in one of America's fastest-growing utility territories, managing the transition of Nova Scotia Power from coal-heavy generation to renewables (mandated by provincial clean energy targets), and evaluating the future of Emera's Caribbean operations. The TECO acquisition significantly increased Emera's debt load, and deleveraging has been a major focus of Balfour's tenure. His key challenges include managing rate case outcomes across multiple regulatory jurisdictions, executing the coal-to-clean transition at Nova Scotia Power, hurricane exposure in both Florida and the Caribbean, and balancing capital investment needs against the dividend expectations of income-focused Canadian utility investors. Balfour's decisions on capital allocation between growth and deleveraging, rate case strategy, and potential asset dispositions in the Caribbean are the primary drivers of Emera's stock on the Toronto Stock Exchange.