Nova Scotia Power Inc. (NSPI), a subsidiary of Halifax-based Emera, is the public utility in charge of the generation, transmission and distribution of electricity in Nova Scotia. Formerly a government-owned company, it was privatized in 1992 by the conservative government of premier Donald Cameron, in what was called at the time the biggest initial public offering (IPO) in Canadian history. From the $816 million proceeds, "$616 million was used to recapitalize Nova Scotia Power by paying down debt owed by the utility".