Halifax-based Emera, the parent company of Nova Scotia Power, has agreed to buy Alberta’s Canadian Utilities in an all-share deal valued at about $14.3 billion.

The companies announced the deal Tuesday morning. The combined company will be worth about $72 billion, keep the Emera name and keep its public company headquarters in Halifax.

The companies call it the largest merger in Canadian history.

What it means for Nova Scotia

Nova Scotia Power serves about 550,000 customers in the province.

The announcement does not mention Nova Scotia Power, local power rates or local jobs. The Nova Scotia Utility and Review Board is not among the regulators that must approve the deal.

The deal

Emera CEO Scott Balfour will lead the merged company. Current Emera shareholders will own about 60 per cent of it.

Together, the companies will serve about 6 million customers. Most of the earnings come from Florida and Alberta.

What’s next

Shareholders vote in early 2027. The companies expect the deal to close in the third or fourth quarter of 2027.