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Fortis Inc. Profile
| Electric Utilities Industry | Utilities Sector | David Gerard Hutchens CEO | XMUN Exchange | CA3495531079 ISIN |
| CA Country | 9,800 Employees | 15 May 2026 Last Dividend | 12 Oct 2005 Last Split | - IPO Date |
Overview
Fortis Inc. is a leading North American utility company with a diverse portfolio of electric and gas utilities across Canada, the United States, and the Caribbean. Established in 1885 and based in St. John's, Canada, Fortis has grown through strategic acquisitions and development to serve approximately 447,000 electricity customers in southeastern Arizona, 103,000 in Arizona's Mohave and Santa Cruz counties, and over 1 million natural gas customers in British Columbia, Canada. With a strong focus on sustainable energy, Fortis is actively involved in the generation, transmission, and distribution of electricity, as well as the distribution of natural gas, catering to residential, commercial, and industrial customers. The company's extensive asset base includes a mix of gas-fired, hydroelectric, solar, and wind generating facilities, alongside a vast network of electricity distribution and natural gas pipelines.
Products and Services
Electricity Generation, Transmission, and Distribution:
Fortis generates electricity through a diverse mix of sources, including solar, wind, gas-fired, and hydroelectric facilities. With an aggregate capacity of 3,408 megawatts (MW), which includes 68 MW of solar capacity and 250 MW of wind capacity, the company transmits and distributes electricity to customers in southeastern Arizona, Arizona's Mohave and Santa Cruz counties, southern and central Alberta, Newfoundland and Labrador, Prince Edward Island, Ontario, the Cayman Islands, and Turks and Caicos.
Wholesale Electricity:
In addition to serving retail customers, Fortis sells wholesale electricity to various entities in the western United States, leveraging its sizable generating capacity to meet the demands of the wholesale market.
Natural Gas Distribution:
Fortis distributes natural gas to approximately 1,087,000 residential, commercial, and industrial customers in British Columbia, Canada. The company's natural gas distribution network is an essential component of its utility services, offering clean and efficient energy solutions.
Hydroelectric Facilities Operation and Maintenance Services:
Fortis owns and operates four hydroelectric generating facilities with a combined capacity of 225 MW. Additionally, the company provides operation, maintenance, and management services for five hydroelectric generating facilities, showcasing its expertise in the renewable energy sector.
Long-term Contracted Generation Assets:
The company's portfolio includes long-term contracted generation assets in Belize, which consist of three hydroelectric generating facilities with a combined capacity of 51 MW. These assets underscore Fortis's commitment to diversifying its energy mix and expanding its renewable energy footprint.
Energy Storage and Pipeline Infrastructure:
Fortis owns the Aitken Creek natural gas storage facility, enhancing the company's energy storage capabilities. Moreover, the extensive infrastructure of approximately 90,500 circuit kilometers (km) of distribution lines and around 51,600 km of natural gas pipelines ensures the reliable delivery of electricity and natural gas to customers.
