Fortis Inc.

Fortis Inc. is an electric and gas utility company operating in Canada, the United States, and the Caribbean. The company generates, transmits, and distributes electricity to approximately 459,000 retail customers in southeastern Arizona, including the greater Tucson metropolitan area, and serves 107,000 retail customers in the same region with an aggregate capacity of 3,443 megawatts (MW). It also sells wholesale electricity to other entities in the western United States. In Canada, Fortis distributes natural gas to about 1,105,000 residential, commercial, and industrial customers in British Columbia, and operates an electricity distribution system serving approximately 615,000 customers in southern and central Alberta. Additionally, it owns hydroelectric generating facilities with a combined capacity of 225 MW and provides operation, maintenance, and management services for such facilities. The company also distributes electricity in Newfoundland and Labrador (145 MW installed capacity), Prince Edward Island (90 MW), and serves about 70,000 customers in Ontario. In the Caribbean, Fortis serves approximately 35,000 customers on Grand Cayman, Cayman Islands, and about 92,000 customers on Maritime Electric.

Fortis Inc. is listed on the New York Stock Exchange (NYSE) under the ticker symbol FTS. Its securities trade in US dollars (USD). The company is headquartered in Canada, and its primary listing is on the NYSE, making it accessible to investors in the United States and globally. The use of USD as the trading currency facilitates investment from US-based investors and provides a standard currency for international transactions.

Fortis Inc. operates in the Utilities sector, specifically within the Utilities - Regulated Electric industry. This means the company is involved in the generation, transmission, and distribution of electricity, and its operations are subject to regulation by government authorities. As a regulated utility, Fortis earns revenue through approved rates that are designed to cover costs and provide a reasonable return on investment. The regulated nature of the industry provides stability and predictable cash flows, as rates are set by regulatory bodies to ensure fair pricing for customers while allowing the utility to maintain infrastructure and invest in improvements.

Fortis Inc. operates in three main geographic regions: Canada, the United States, and the Caribbean. In Canada, the company serves customers in British Columbia (natural gas distribution), Alberta (electricity distribution), Newfoundland and Labrador (electricity generation and distribution), Prince Edward Island (electricity distribution), and Ontario (integrated electric utility service). In the United States, Fortis provides electricity to customers in southeastern Arizona, including the greater Tucson metropolitan area, and sells wholesale electricity in the western US. In the Caribbean, the company serves approximately 35,000 customers on Grand Cayman in the Cayman Islands and about 92,000 customers on Maritime Electric. This diversified geographic footprint helps mitigate regional economic and regulatory risks.

Fortis Inc. generates revenue primarily through the regulated distribution and sale of electricity and natural gas to residential, commercial, and industrial customers. As a regulated utility, its rates are approved by government authorities, ensuring a stable and predictable revenue stream. The company earns money by charging customers for the electricity and natural gas they consume, as well as through transmission and distribution services. Additionally, Fortis generates income from wholesale electricity sales to other entities in the western United States and from providing operation, maintenance, and management services for hydroelectric generating facilities. Its portfolio includes gas-fired and hydroelectric generating capacity, which contributes to its earnings. The company's diverse asset base across multiple jurisdictions and customer segments provides a balanced revenue mix and supports consistent financial performance.