Nova Scotia Power Inc. Issues $300 Million of Medium Term Notes

Today, Nova Scotia Power Inc. completed the issue of $300 million Series Z Medium Term Notes. The Series Z Notes bear interest at the rate of 4.50% and yield 4.537% per annum until July 20, 2043.

The Offering was made to the public through a syndicate of agents co-led by CIBC World Markets Inc. and Scotia Capital Inc., and included RBC Dominion Securities Inc., TD Securities Inc, BMO Nesbitt Burns Inc. and National Bank Financial Inc.

The net proceeds of the Offering will be used for general corporate purposes including the repayment of maturing corporate term debt.

This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in the United States or in any province, state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of the United States or any such province, state or other jurisdiction. These securities may not be offered or sold in the United States absent registration or an exemption from registration.

FORWARD LOOKING INFORMATION

This news release contains forward looking information. Actual future results may differ materially. Additional information related to Nova Scotia Power Inc., including the company's Annual Information Form, can be found on SEDAR at www.sedar.com.

About Nova Scotia Power

Nova Scotia Power Inc. (TSX – NSI.PR.D) is the largest wholly-owned subsidiary of Emera Inc. (TSX-EMA), a diversified energy and services company. Nova Scotia Power provides more than 95% of the generation, transmission and distribution of electricity to 490,000 customers in the province. The company is focused on new technologies to enhance customer service and reliability, reduce emissions and add renewable energy. NS Power has 1,800 employees and $4 billion in assets, and is a public utility regulated by the Nova Scotia Utility and Review Board. Learn more at www.nspower.ca