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Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions
18. RELATED PARTY
 
TRANSACTIONS
In the ordinary course of business, Emera provides energy
 
and other services and enters into
transactions with its subsidiaries, associates and other
 
related companies on terms similar to those
offered to non-related parties. Intercompany balances
 
and intercompany transactions have been
eliminated on consolidation, except for the net profit on
 
certain transactions between non-regulated and
regulated entities in accordance with accounting standards
 
for rate-regulated entities. All material
amounts are under normal interest and credit terms.
 
Significant transactions between Emera and its associated companies
 
are as follows:
●
 
Transactions between NSPI and NSPML
 
related to the Maritime Link assessment are reported
 
in the
Consolidated Statements of Income. NSPI’s expense
 
is reported in Regulated fuel for generation and
purchased power, totalling
 
a recovery of $
324
 
million for the year ended December 31, 2024 (2023
 
–
$
163
 
million expense). NSPML is accounted for as an
 
equity investment, and therefore corresponding
earnings related to this revenue are reflected in Income
 
from equity investments.
Natural gas transportation capacity purchases from M&NP
 
are reported in the Consolidated
Statements of Income. Purchases from M&NP reported
 
net in Operating revenues, Non-regulated,
totalled $
11
 
million for the year ended December 31, 2024 (2023
– $
14
 
million).
There were no significant receivables or payables between
 
Emera and its associated companies reported
on Emera’s Consolidated Balance Sheets as at December
 
31, 2024 and at December 31, 2023.