It operates three utility subsidiaries:
* Nova Scotia Power
* Bangor Hydro Electric Company
* Saint Lucia Electricity Services Limited (Lucelec)
It also operates an energy investment company, Emera Energy, and the utility service contractor, Emera Utility Services.
Emera was created out of the privatization of the provincial Crown corporation Nova Scotia Power Incorporated (NSPI) in 1991. In 1999, NSPI was reorganized with the creation of Nova Scotia Power Holdings Inc. NSPI became a wholly owned subsidiary of NSPHI, which began publicly trading on the Toronto Stock Exchange that year. In an effort to focus on growth outside the province of Nova Scotia, NSPHI was renamed Emera Incorporated in 2000. In 2001, Emera purchased Bangor Hydro Electric Company.
Through its Emera Energy division, Emera owns Brunswick Pipeline, a company which is currently planning construction of a natural gas pipeline across southern New Brunswick, and 12.9% of the Maritimes and Northeast Pipeline, a natural gas transport company in the Maritimes and northern New England.
In 2007, Emera acquired from American private equity fund manager The Caribbean Basin Power Fund (CBPF) a 19% percent interest in St. Lucia Electricity Services Limited (Lucelec).
The company announced in 2010 an intent to acquire a 38% stake in Light & Power Holdings. The company serves as the lone power utility on the island of Barbados. The stake was previously held by Canadian International Power Company Ltd. (CIP), a subsidiary of United States based Leucadia National Corporation. Under the deal, the Barbados utility plans to sell its stake in Barbados' telecommunications market by spinning off its minority shareholding of TeleBarbados and sub Caribbean fiber-optic cables to Leucadia. Leucadia then relinquished its 38 percent stake in Light and Power to Emera. In 2010 Emera announced it would seek to acquire the remaining outstanding shares of Barbados Light and Power and on December 20, 2010 the Barbados Stock Exchange approved the terms of a further shares purchase by Emera. The deal offer is expected to last until January 14, 2011.
The company announced on November 18, 2010 that it will invest $1.8-billion in the Lower Churchill Project in exchange for 20% of the 800-megawatts of capacity from Muskrat Falls