Fortis Inc. is a Canadian electric utility

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

, based in

St. John's, Newfoundland and Labrador St. John's is the capital and largest city of the Canadian province of Newfoundland and Labrador. It is located on the eastern tip of the Avalon Peninsula on the island of Newfoundland. The city spans and is the easternmost city in North Ame ...

. It operates in Canada, the United States,

Central America Central America is a subregion of North America. Its political boundaries are defined as bordering Mexico to the north, Colombia to the southeast, the Caribbean to the east, and the Pacific Ocean to the southwest. Central America is usually ...

and the

Caribbean The Caribbean ( , ; ; ; ) is a region in the middle of the Americas centered around the Caribbean Sea in the Atlantic Ocean, North Atlantic Ocean, mostly overlapping with the West Indies. Bordered by North America to the north, Central America ...

. In 2015, it earned . Fortis was formed in 1987, when shareholders of the regulated transmission and distribution utility Newfoundland Light & Power Co. voted to form a separate holding company. NL&P shares were exchanged for Fortis shares on a one-to-one basis, with the regulated NL&P becoming a 100% owned subsidiary.

Expansion

The company expanded into Western Canada in 2003 with its purchase of the Canadian assets of Aquila, Inc., formerly owned by TransAlta, Canada's largest publicly traded utility. As a result of this acquisition, Fortis became one of Alberta's major regulated electrical distribution companies, serving 415,000 Albertans in 2005. ATCO Electric is Alberta's other regulated distribution company. Also as a result of the 2003 acquisition, Fortis owns regulated generation, transmission, and distribution assets in British Columbia. In 2007, Fortis acquired Terasen Gas from Kinder Morgan, which had sold the BC gas utility as a non-strategic asset included in its 2005 acquisition of Terasen Inc. In addition to its regulated Canadian assets, Fortis also owns unregulated assets in Ontario, British Columbia, and Newfoundland. The majority of its unregulated business consists of hydroelectric generating plants. Fortis' interests in the Caribbean include a 67% interest in Belize Electricity Limited (BEL) and a 95% interest in Belize Electric Co. Ltd. The Belize Association of Non-Government Organisations took Fortis to the

Judicial Committee of the Privy Council The Judicial Committee of the Privy Council (JCPC) is the highest court of appeal for the Crown Dependencies, the British Overseas Territories, some Commonwealth countries and a few institutions in the United Kingdom. Established on 14 August ...

in 2003 to have a new environmental assessment of the Chalillo Dam on the Macal River which was a

hydroelectricity Hydroelectricity, or hydroelectric power, is Electricity generation, electricity generated from hydropower (water power). Hydropower supplies 15% of the world's electricity, almost 4,210 TWh in 2023, which is more than all other Renewable energ ...

development project. Ecologists were concerned over the future of species such as the

scarlet macaw The scarlet macaw (''Ara macao'') also called the red-and-yellow macaw, red-and-blue macaw or red-breasted macaw, is a large yellow, red and blue Neotropical parrot native to humid evergreen forests of the Americas. Its range extends from south ...

, the

tapir Tapirs ( ) are large, herbivorous mammals belonging to the family Tapiridae. They are similar in shape to a Suidae, pig, with a short, prehensile nose trunk (proboscis). Tapirs inhabit jungle and forest regions of South America, South and Centr ...

and the black howler monkey as the project would flood 10 km² of rainforest in Belize. Celebrities such as

Harrison Ford Harrison Ford (born July 13, 1942) is an American actor. Regarded as a cinematic cultural icon, he has starred in Harrison Ford filmography, many notable films over seven decades, and is one of List of highest-grossing actors, the highest-gr ...

and

Cameron Diaz Cameron Michelle Diaz (born August 30, 1972) is an American actress. Prolific in both comedy and drama, Cameron Diaz filmography, her films have grossed over $3 billion in the U.S. box-office. Her output of romantic comedies in the late 1990s a ...

supported a movement to stop this dam. Fortis and the Government of Belize supported the project. On May 30, 2011, it was announced that Fortis has plans to acquire

Central Vermont Public Service Central Vermont Public Service Corp. (CVPS) was the largest electricity supplier in Vermont. Its customer base covered 160,000 people in 163 towns, villages and cities in Vermont. The company generated revenue mainly though purchased electricity ...

, an electric utility in the US state of

Vermont Vermont () is a U.S. state, state in the New England region of the Northeastern United States. It borders Massachusetts to the south, New Hampshire to the east, New York (state), New York to the west, and the Provinces and territories of Ca ...

, for US$700 million, pending stockholder and regulatory approval; this acquisition would be Fortis' first utility acquisition in the United States.

Gaz Métro Gaz may refer to: Geography *Gaz, Kyrgyzstan Iran * Gaz, Darmian, village in South Khorasan province * Gaz, Golestan, a village in Bandar-e Gaz County * Gaz, Hormozgan, a village in Minab County * Gaz, Kerman, a village * Gaz, North Khorasan, a ...

offered a higher price and acquired CVPS. On February 21, 2012, CH Energy Group (a holding company for Central Hudson Gas & Electric, an upstate New York utility), announced a pending acquisition by Fortis valued at $1.5 billion. On June 27, 2013, Fortis Inc. closed on its acquisition of CHG. In 2013, Fortis announced its acquisition of

UNS Energy UNS Energy is the parent company of Tucson Electric Power and UniSource Energy Services. History UniSource Energy was started in 1998 as the parent company for Tucson Electric Power. In 2003, the company acquired Citizens Communications's Arizona ...

, an Arizona utility company. On February 9, 2016, Fortis announced an agreement to acquire ITC Holdings Corp., the largest independent transmission utility in the United States, for US$11.3 billion in cash and stock.

Operations

Fortis currently owns the following regulated utilities: *

FortisBC FortisBC is a British Columbia based regulated utility that provides natural gas and electricity. FortisBC has approximately 2,600 employees serving more than 1.2 million customers in 135 B.C. communities and 58 First Nations communities across 1 ...

, a utility in

British Columbia British Columbia is the westernmost Provinces and territories of Canada, province of Canada. Situated in the Pacific Northwest between the Pacific Ocean and the Rocky Mountains, the province has a diverse geography, with rugged landscapes that ...

* FortisAlberta Inc., a holding company for assets purchased from Aquila, Inc. * Central Hudson Gas & Electric, a utility in New York * Tucson Electric Power and UniSource Energy Services, utilities in Arizona * Newfoundland Power, serving 85% of the population of

Newfoundland and Labrador Newfoundland and Labrador is the easternmost province of Canada, in the country's Atlantic region. The province comprises the island of Newfoundland and the continental region of Labrador, having a total size of . As of 2025 the populatio ...

; Fortis' original operating electric power subsidiary * Maritime Electric, serving 90% of the population of

Prince Edward Island Prince Edward Island is an island Provinces and territories of Canada, province of Canada. While it is the smallest province by land area and population, it is the most densely populated. The island has several nicknames: "Garden of the Gulf", ...

* FortisOntario, a holding company for Canadian Niagara Power Company, Cornwall Electric, and Algoma Power * Caribbean Utilities, a utility in the

Cayman Islands The Cayman Islands () is a self-governing British Overseas Territories, British Overseas Territory, and the largest by population. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located so ...

* FortisTCI, a utility in the Turks and Caicos Islands * Fortis Belize, a utility in Belize (formerly Belize Electric Company Limited) *

ITC Transmission ITC Holdings Corporation (doing business as ITC Transmission) is an American energy company which owns and operates high-voltage electricity transmission networks. Headquartered in Novi, Michigan, ITC has operations in Michigan, Illinois, Iowa, ...

Novi, Michigan Novi ( ) is a city in Oakland County, Michigan, Oakland County in the U.S. state of Michigan. A northwestern Metro Detroit, suburb of Detroit, Novi is located roughly northwest of downtown Detroit. As of the 2020 United States census, 2020 census ...

Fortis also operates three non-regulated companies: * Fortis Generation, hydro generation in New York state and central Newfoundland. * Griffith Energy Services, a petroleum supplier in the eastern United States.

References

External links

Fortis - official website
*
Belize Electricity Ltd.
*
Caribbean Utilities Company
-

*
FortisTCI
- Turks and Caicos Islands {{Portal, Companies S&P/TSX 60 Companies listed on the Toronto Stock Exchange Electric power companies of Canada Companies based in St. John's, Newfoundland and Labrador Energy companies established in 1987 Canadian companies established in 1987

Expansion

Operations

See also

References

External links