Fortis Inc. (FORFF) Research

Fortis Inc., headquartered in St. John's, Canada, was established in 1885 and operates as a key electricity and natural gas utility across Canada, the United States, and the Caribbean. In the U.S., Fortis is responsible for generating, transmitting, and distributing electricity to approximately 438,000 retail clients in southeastern Arizona, alongside an additional 100,000 retail customers situated in Arizona's Mohave and Santa Cruz counties. Its generation portfolio in this region boasts a combined capacity of 3,485 megawatts (MW), which includes 53 MW from solar sources and 252 MW from wind. The company also engages in wholesale electricity sales to various entities throughout the western United States. Within Canada, Fortis supplies natural gas to roughly 1,065,000 residential, commercial, and industrial consumers in British Columbia. It manages and operates the electricity distribution network serving approximately 577,000 customers across southern and central Alberta, where it also owns four hydroelectric facilities totaling 225 MW and provides operational, maintenance, and management services for five additional hydroelectric plants. The company further distributes electricity to the island portion of Newfoundland and Labrador, backed by 143 MW of installed generating capacity, and on Prince Edward Island, with a generating capacity of 130 MW. Its integrated electric utility services reach about 68,000 customers in Ontario and around 272,000 in Newfoundland and Labrador. Additionally, Fortis holds 65 MW of general gas-fired and hydroelectric generating assets and manages the Aitken Creek natural gas storage facility. Internationally, Fortis delivers integrated electric utility services to approximately 32,000 customers on Grand Cayman in the Cayman Islands, and about 16,000 customers residing on specific islands within Turks and Caicos. Its international holdings also feature long-term contracted generation assets in Belize, comprising three hydroelectric facilities with a collective capacity of 51 MW. The company's extensive infrastructure includes approximately 90,200 circuit kilometers of electricity distribution lines and around 50,500 kilometers of natural gas pipelines.

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