Wednesday, March 16, 2011

Management change at Grand Bahama Power Co.

FREEPORT, Bahamas – Grand Bahama Power Company (GBPC) announced today that R. Alan Kelley, CEO, Grand Bahama Power Company has resigned from the company effective March 16, 2010 to pursue other opportunities in the US.

Mr. Kelley joined GBPC in December of 2009 and led the company under the direction of former majority owner Marubeni/Taqa.

Emera Executive Ray Robinson will continue to lead the organization in his role as Executive Chairman of GBPC and will begin the process to recruit a new CEO immediately.

“We thank Mr. Kelley for the contributions he has made to the business over the last 15 months,” said Mr. Robinson. “I look forward to working more closely with the GBPC team to revitalize the utility for the benefit of the citizens of Grand Bahama and The Bahamas.”


About Emera: Emera Inc. (EMA-TSX) is a growing energy and services company with $6.3 billion in assets and revenues of $1.6 billion. The company invests in electricity generation, transmission and distribution as well as gas transmission and utility energy services. Emera’s strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera operates throughout northeastern North America, in three Caribbean countries and in California. More than 80% of the company’s earnings come from regulated investments.. Emera shares are listed on the Toronto Stock Exchange and trade under the symbol EMA. Additional information can be accessed at www.emera.com or www.sedar.com.

About GBPC: Grand Bahama Power Company Ltd. is a totally integrated utility company serving the island's 45,000 residents and commercial establishments from east to west. The company employs over 200 Bahamians and has one of the lowest electricity rates in the Caribbean. For more information about Grand Bahama Power Company please visit: www.gb-power.com

Cautionary Statement Regarding Forward-Looking Information: This release contains forward-looking information and should not be read as a guarantee of future events, performance or results, and will not necessarily be an accurate indication of whether, or the times at which, such events, performance or results will be achieved. Emera disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

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