Nova Scotia

Emera CEO received $1M raise last year

Many of the executives who run Nova Scotia Power's parent company, Emera, saw substantial raises in 2020, according to compensation data released by the company Thursday.

Scott Balfour's compensation rose to $7.8M in his second year as CEO

The Nova Scotia Power headquarters is seen in Halifax on Thursday, Nov. 29, 2018. (The Canadian Press)

The top executive who runs Nova Scotia Power's parent company got a sizeable raise in 2020, according to compensation data released by the company Thursday.

Emera CEO Scott Balfour saw his total compensation jump almost 16 per cent to $7.78 million last year from $6.72 million in 2019.

Balfour took the helm of Emera from Chris Huskilson in March 2018 after previously serving as the chief operating officer and chief financial officer.

The compensation disclosure document said that despite the challenges posed by the COVID-19 pandemic, "2020 was a year of strong performance both financially and operationally for Emera."

Compensation for other Emera executives

Greg Bluden, Emera's chief financial officer, saw his compensation rise 12 per cent to $2.27 million in 2020, up from $2.02 million. 

Balfour and Bluden are on Emera's list of top five earners disclosed in information to shareholders. No executive from Nova Scotia Power made the list.

The remaining top earners are:

  • Tampa Electric president and CEO Nancy Tower, who earned $3.2 million last year, a 17 per cent increase from her 2019 compensation of $2.75 million.
  • Emera Technologies LLC CEO Rob Bennett, who earned $2.21 million last year, a nine per cent decrease from his 2019 compensation of $2.42 million.
  • Bruce Marchand, Emera's chief legal and compliance officer, who earned $2.01 million, a nine per cent increase from his 2019 compensation of $1.85 million.

The figures released Thursday are for total compensation. That includes base salary, bonuses and other share-based incentives.