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Short-Term Debt | 12 Months Ended
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Dec. 31, 2024
Short-Term Debt [Abstract] |
Short-Term Debt | 24. SHORT-TERM DEBT Emera’s short-term borrowings consist of commercial paper issuances, advances on revolving and non- revolving credit facilities and short-term notes. Short-term debt and the related weighted-average interest rates as at December 31 consisted of the following: millions of dollars 2024 Weighted average interest rate 2023 Weighted average interest rate Florida Electric Utility Advances on revolving credit facilities $ 915 4.77 % $ 277 5.68 % Gas Utilities and Infrastructure PGS – Advances on revolving credit facilities 199 5.36 % 73 6.36 % NMGC – Advances on revolving credit facilities 46 5.52 % 25 6.46 % Other Electric Utilities GBPC – Advances on revolving credit facilities 19 7.20 % 8 5.54 % Other TECO Finance – Advances on revolving credit and term facilities 265 5.53 % 245 6.54 % Emera – Bank indebtedness 2 - % 9 - % Emera – Non-revolving term facilities - - % 796 6.07 % $ 1,446 $ 1,433 Adjustment Classification as liabilities held for sale (1) (46) - Short-term debt $ 1,400 $ 1,433 (1) On August 5, 2024, Emera announced an agreement to sell NMGC. As at December 31, 2024, NMGC's liabilities were classified as held for sale. For further details on the pending transaction, refer to note 4. The Company’s total short-term unsecured revolving and non-revolving credit facilities, outstanding borrowings and available capacity as at December 31 were as follows: millions of dollars Maturity 2024 2023 TEC – committed revolving credit facility 2028 $ 1,151 $ 401 TECO Finance – committed revolving credit facility 2028 576 529 PGS – revolving credit facility 2028 360 331 NMGC – revolving credit facility 2026 180 165 Emera – non-revolving term facility 2024 - 400 Emera – non-revolving term facility 2024 - 400 TEC – revolving facility 2024 - 265 TEC – revolving facility 2024 - 265 Other – committed revolving credit facilities Various 35 17 Total $ 2,302 $ 2,773 Less: Advances under revolving credit and term facilities 1,400 1,433 Letters of credit issued within the credit facilities 4 3 Total advances under available facilities 1,404 1,436 Available capacity under existing agreements $ 898 $ 1,337 The weighted average interest rate on outstanding short-term debt at December 31, 2024 was 5.05 per cent (2023 – 5.95 per cent). Recent Significant Financing Activity by Segment Florida Electric Utilities On April 1, 2024, TEC amended its $ 800 million USD unsecured committed revolving credit facility to extend the maturity date from December 17, 2026 to December 1, 2028 . There were no other changes in commercial terms from the prior agreement. Other On June 24, 2024, Emera repaid its $ 400 million unsecured non-revolving term facility set to mature in August 2024. On June 17, 2024, Emera repaid $ 200 million on the December 2024 unsecured non-revolving term facility, decreasing the facility from $ 400 million to $ 200 million. In December 2024, Emera repaid the $ 200 million upon maturity. On April 1, 2024, TECO Finance amended its $ 400 million USD unsecured committed revolving credit facility to extend the maturity date from December 17, 2026 to December 1, 2028 . There were no other changes in commercial terms from the prior agreement.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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