04:33:33 EDT Fri 03 May 2024
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Emera Inc
Symbol EMA
Shares Issued 284,258,987
Close 2024-03-04 C$ 48.07
Market Cap C$ 13,664,329,505
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Globe says Emera nears end of battery pilot program

2024-03-05 08:58 ET - In the News

The Globe and Mail reports in its Tuesday, March 5, edition that electric utilities in North America are stepping up efforts to control vegetation and bury power lines to better secure their grids as they deal with more violent and unpredictable storms. The Globe's Nicolas Van Praet writes that Hydro-Quebec is among those testing another way to keep the lights on for its customers: home batteries. It is running a pilot project involving about 20 residential clients living in seven suburbs on Montreal's West Island. It is equipping their homes with mini-fridge-sized battery stacks to test how they perform when the electricity cuts out and in periods where demand is at its peak. The trial began at the end of 2022 and will last three years. Nova Scotia Power, privately owned by Emera, is at the tail end of a three-year pilot program on home batteries in which 125 customers took part. Under an agreement they signed with the utility, those clients will continue to use the batteries -- either a $3,000 Tesla Powerwall Two battery or a $4,200 Sunverge Infinity battery -- for another seven years. Most have opted to finance the battery and will own it at the end of the period, utility spokesman Jacqueline Foster said.

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