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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2016
Long-term Debt [Abstract] |
Schedule of Long-term Debt Instruments [Table Text Block] |
millions of Canadian dollars | Weighted Average Interest Rate 2016 (1) | Weighted Average Interest Rate 2015 (1) | Maturity | 2016 | 2015
Emera |  |  |  |  |  |  |
Bankers acceptances, LIBOR loans | Variable | Variable | 2020 | $ | 30 | $ | 240
Unsecured fixed rate notes | 3.50% | 3.85% | 2019-2023 |  | 725 |  | 475
Fixed to floating subordinated notes (USD) (2) | 6.75% | - | 2076 |  | 1,611 |  | -
|  |  |  | $ | 2,366 | $ | 715
Emera US Finance LP |  |  |  |  |  |  |
Unsecured senior notes (USD) (2) | 3.60% | - | 2019 - 2046 | $ | 4,364 | $ | -
|  |  |  |  | 4,364 |  | -
TECO Finance (3) |  |  |  |  |  |  |
Variable rate notes (USD) | Variable | - | 2018 | $ | 336 | $ | -
Fixed rate notes and bonds (USD) | 5.86% |  | 2017 - 2020 |  | 805 |  | -
|  |  |  | $ | 1,141 | $ | -
Tampa Electric (4) |  |  |  |  |  |  |
Fixed rate notes and bonds (USD) | 4.90% | - | 2018 - 2045 | $ | 2,579 | $ | -
|  |  |  | $ | 2,579 | $ | -
PGS |  |  |  |  |  |  |
Fixed rate notes and bonds (USD) | 5.06% | - | 2018 - 2045 | $ | 351 | $ | -
|  |  |  | $ | 351 | $ | -
NMGC |  |  |  |  |  |  |
Fixed rate notes and bonds (USD) | 4.53% | - | 2021 - 2026 | $ | 363 | $ | -
|  |  |  | $ | 363 | $ | -
NMGI |  |  |  |  |  |  |
Fixed rate notes and bonds (USD) | 3.41% | - | 2019 - 2024 | $ | 269 | $ | -
|  |  |  | $ | 269 | $ | -
NSPI |  |  |  |  |  |  |
Commercial paper | Variable | Variable | 2020 | $ | 264 | $ | 369
Medium term fixed rate notes | 5.73% | 5.73% | 2019 - 2097 |  | 1,965 |  | 1,965
Fixed rate debenture | 9.75% | 9.75% | 2019 |  | 95 |  | 95
Capital lease obligations | 4.80% | 4.58% | 2019 |  | - |  | 1
|  |  |  | $ | 2,324 | $ | 2,430
Emera Maine |  |  |  |  |  |  |
LIBOR loans and demand loans | Variable | Variable | 2019 | $ | 32 | $ | 32
Secured fixed rate mortgage bonds (USD) | 9.74% | 9.74% | 2020-2022 |  | 67 |  | 69
Unsecured senior fixed rate notes (USD) | 4.28% | 4.31% | 2017-2044 |  | 281 |  | 296
|  |  |  | $ | 380 | $ | 397
EBP |  |  |  |  |  |  |
Senior secured credit facility | 3.08% | 3.08% | 2019 | $ | 248 | $ | 249
|  |  |  | $ | 248 | $ | 249
GBPC |  |  |  |  |  |  |
Unsecured amortizing fixed rate notes (USD) | 3.62% | 3.62% | 2021-2022 | $ | 63 | $ | 77
Unsecured senior notes (USD) | 7.07% | 7.07% | 2020-2023 |  | 67 |  | 68
|  |  |  | $ | 130 | $ | 145
BLPC & ECI |  |  |  |  |  |  |
Secured fixed rate senior notes (5) | 5.65% | 5.64% | 2020 - 2028 | $ | 81 | $ | 89
Secured senior notes (USD) (6) | Variable | - | 2021 |  | 201 |  | -
|  |  |  | $ | 282 | $ | 89
Adjustments |  |  |  |  |  |  |
Fair market value adjustment - TECO Energy acquisition (7) |  |  |  | $ | 58 | $ | -
Debt issuance costs |  |  |  |  | (111) |  | (16)
Amount due within one year |  |  |  |  | (476) |  | (274)
|  |  |  | $ | (529) | $ | (290)
Long-Term Debt |  |  |  | $ | 14,268 | $ | 3,735
(1) Weighted average interest rate of fixed rate long-term debt.
(2) See below for details on the long-term debt related to the acquisition of TECO Energy.
(3) TECO Energy is a full and unconditional guarantor of TECO Finance’s securities, and no subsidiaries of TECO Energy guarantee TECO Finance’s securities.
(4) A substantial part of Tampa Electric’s tangible assets are pledged as collateral to secure its first mortgage bonds. There are currently no bonds outstanding under Tampa Electric’s first mortgage bond indenture.
(5) Notes are issued and payable in either USD, BBD or East Caribbean Dollar (XCD).
(6) See below for details on the long-term debt issued by ECI in November, 2016.
(7) On acquisition of TECO Energy, Emera recorded a fair market value adjustment on the unregulated long-term debt acquired. The fair market value adjustment is amortized over the remaining term of the debt.
The Company’s total long-term revolving credit facilities, outstanding borrowings and available capacity as at December 31 were as follows:
millions of Canadian dollars | Maturity |  | 2016 |  | 2015
Emera – revolving credit facility (1) | June 2020 | $ | 700 | $ | 700
NSPI - revolving credit facility (1) | October 2020 |  | 600 |  | 500
Emera Maine – revolving credit facility | September 2019 |  | 107 |  | 111
BLPC – revolving credit facility | 2017-2021 |  | 26 |  | 26
Total |  |  | 1,433 |  | 1,337
Less: |  |  |  |  |
Borrowings under credit facilities |  |  | 326 |  | 641
Letters of credit issued inside credit facilities |  |  | 37 |  | 33
Use of available facilities |  |  | 363 |  | 674
Available capacity under existing agreements |  | $ | 1,070 | $ | 663
(1) Advances on the revolving credit facility can be made by way of overdraft on accounts up to $50 million.
Schedule of Debt Conversions [Table Text Block] |
|  |  | As at
| Financial Covenant | Requirement | December 31, 2016
Emera |  |  |
Syndicated credit facilities | Debt to capital ratio | Less than or equal to 0.70 to 1 | 0.62:1
Schedule of Maturities of Long-term Debt [Table Text Block] |
millions of Canadian dollars | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | Thereafter |  | Total
Emera | $ | - | $ | - | $ | 225 | $ | 30 | $ | - | $ | 2,111 | $ | 2,366
Emera US Finance LP |  | - |  | - |  | 671 |  | - |  | 1,007 |  | 2,686 |  | 4,364
TECO Energy |  | - |  | 409 |  | 67 |  | - |  | 643 |  | 2,443 |  | 3,562
TECO Finance |  | 403 |  | 335 |  | - |  | 403 |  | - |  | - |  | 1,141
NSPI |  | - |  | - |  | 95 |  | 264 |  | - |  | 1,965 |  | 2,324
Emera Maine |  | 33 |  | 6 |  | 32 |  | 40 |  | - |  | 269 |  | 380
EBP |  | - |  | - |  | 248 |  | - |  | - |  | - |  | 248
GBPC |  | 11 |  | 12 |  | 12 |  | 40 |  | 11 |  | 44 |  | 130
BLPC and ECI |  | 29 |  | 29 |  | 30 |  | 58 |  | 26 |  | 110 |  | 282
Total | $ | 476 | $ | 791 | $ | 1,380 | $ | 835 | $ | 1,687 | $ | 9,628 | $ | 14,797

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