FTS 📈 Fortis - Overview

Fortis Inc. is a multifaceted utility company with operations spanning across Canada, the United States, and the Caribbean, providing a broad range of services including electricity and gas distribution. The company's electricity generation capacity is substantial, with an aggregate capacity of 3,408 megawatts (MW) in southeastern Arizona and Arizona's Mohave and Santa Cruz counties, which includes 68 MW of solar capacity and 250 MW of wind capacity. This diversified energy mix enables the company to cater to the needs of approximately 447,000 retail customers in southeastern Arizona and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties. Furthermore, Fortis Inc. engages in the sale of wholesale electricity to other entities in the western United States, leveraging its generating capacity to meet the demands of a wider market.

In addition to its electricity operations, Fortis Inc. has a significant presence in the natural gas distribution sector, serving approximately 1,087,000 residential, commercial, and industrial customers in British Columbia, Canada. The company's gas-fired and hydroelectric generating capacity totals 65 MW, providing a reliable source of energy for its customers. Moreover, Fortis Inc. owns and operates the electricity distribution system that serves around 592,000 customers in southern and central Alberta, underscoring its commitment to delivering essential services to a large and diverse customer base. The company's portfolio of hydroelectric generating facilities is notable, with four facilities boasting a combined capacity of 225 MW, and it also provides operation, maintenance, and management services to five additional hydroelectric generating facilities.

Fortis Inc.'s geographic footprint extends to several islands in the Caribbean, where it distributes electricity to customers in the island portion of Newfoundland and Labrador, with an installed generating capacity of 145 MW, and on Prince Edward Island, with a generating capacity of 90 MW. The company also provides integrated electric utility services to a sizable customer base in Ontario, Newfoundland and Labrador, Grand Cayman, and Turks and Caicos, totaling approximately 395,000 customers. Its long-term contracted generation assets in Belize, comprising three hydroelectric generating facilities with a combined capacity of 51 MW, further contribute to the company's diversified energy portfolio. The Aitken Creek natural gas storage facility is another key asset, highlighting Fortis Inc.'s strategic approach to energy storage and distribution.

From an infrastructure perspective, Fortis Inc. boasts an extensive network of distribution lines and natural gas pipelines, spanning approximately 90,500 circuit kilometers and 51,600 kilometers, respectively. This vast network is a testament to the company's scale and reach, enabling it to deliver energy services to a wide range of customers across its operating regions. With a history dating back to 1885, Fortis Inc. is headquartered in St. John's, Canada, and is publicly traded, with its common stock listed under the ISIN CA3495531079 and classified under the GICS Sub Industry of Electric Utilities.