# Emera's Record Capital Plan and Merger Boost Florida Rate Base

> Emera's $21.5B five-year capital plan and $14.3B merger with Canadian Utilities could expand Florida rate base by 7.5-8.5% annually.
- Title: Emera's Record Capital Plan and Merger Boost Florida Rate Base
- Summary: Emera's $21.5B five-year capital plan and $14.3B merger with Canadian Utilities could expand Florida rate base by 7.5-8.5% annually.
- Keywords: ema, energy services, ltip, oil & gas, Alphastreet - Earnings Decoded. Market Intelligence Delivered
- Source: Alphastreet - Earnings Decoded. Market Intelligence Delivered — https://news.alphastreet.com/emera-ema-record-capital-commitment-and-transformational-merger-reframe-the-florida-led-rate-base-story
- Author: Newsdesk
- Published: 2026-11-09T19:09:25+00:00
- Read time: 1 min
- Topics: ema, energy services, ltip, oil & gas
## Q3 2026 Results
Emera reported Q3 2026 adjusted earnings per share of CAD $0.85, a 3% year-over-year decline.
## Record Capital Plan
Emera unveiled a CAD $21.5 billion five-year capital plan for 2027-2031, a 5% increase from prior plan.
## Florida Rate Base Focus
Approximately 82% of the capital plan, or CAD $17.5 billion, is concentrated in Florida operations.
## Tampa Electric's Data Center Strategy
Tampa Electric filed a large-load tariff application targeting up to 1,000 megawatts of data center demand.
## Merger with Canadian Utilities
Emera announced an all-share merger with Canadian Utilities Limited valued at approximately CAD $14.3 billion.
## Post-Merger Growth Projections
The merger would create a top-20 North American utility with $72 billion enterprise value and six million customers.
## Near-Term Catalysts
Three key events define the near-term outlook: Florida PSC decision, Alberta Utilities Commission approval, and Nova Scotia Power regulatory resolution.
## Key takeaway

Emera's record capital commitment and merger with Canadian Utilities target 7.5-8.5% annual rate base growth in Florida.