Nova Scotia Power Inc. issues $250 million of Medium Term Notes

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

HALIFAX, March 6, 2012 /CNW/ - Today, Nova Scotia Power Inc. (TSX: NSI.PR.D) completed the issue of $250 million Series Y Medium Term Notes. The Series Y Notes bear interest at the rate of 4.15% and yield 4.155% per annum until March 6, 2042.

The Offering was made to the public through a syndicate of agents co-led by RBC Dominion Securities Inc. and TD Securities Inc., and included CIBC World Markets Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc. and Merrill Lynch Canada Inc.

The net proceeds of the Offering will be used to repay short term borrowings and for general corporate purposes.

This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in the United States or in any province, state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of the United States or any such province, state or other jurisdiction.  These securities may not be offered or sold in the United States absent registration or an exemption from registration.

Forward Looking Information

This news release contains forward looking information. Actual future results may differ materially. Additional information related to Nova Scotia Power Inc., including the company's Annual Information Form, can be found on SEDAR at www.sedar.com.

About Nova Scotia Power

Nova Scotia Power Inc. (TSX-NSI.PR.D) has provided electricity to Nova Scotians for more than 80 years.  The company provides electricity generation, transmission, and distribution services to almost 490,000 customers in the province. Nova Scotia Power is transforming its generation to reduce its carbon footprint and enable new economic activity by replacing fossil fuels with renewable energy sources. The company has $4.0 billion in assets and approximately 2,000 employees who are dedicated to safe work, enhanced customer service, system reliability and serving their communities. Nova Scotia Power is the largest wholly-owned subsidiary of Halifax-based Emera Inc., whose shares are listed on the Toronto Stock Exchange and trade under the symbols EMA and EMA.PR.A. Additional information can be accessed at www.emera.com, www.sedar.com, or on www.sec.gov.

Jill MacDonald, CA
Manager, Investor Relations
[phone]