{
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  "organisationId": "O-49c8a4a6988e450bae675fcfbb80d346",
  "slug": "fortis",
  "name": "Fortis Inc.",
  "updatedAt": "2026-09-28T12:09:49.765767Z",
  "sections": [
    {
      "type": "OVERVIEW",
      "text": "Fortis Inc. is a regulated electric and natural-gas utility company. Its businesses transmit and distribute electricity and natural gas, with utility operations in Canada, the United States and the Caribbean. Fortis describes its shared purpose as “to deliver a cleaner energy future.” [P139133017][https://fortisinc.com/company/about-fortis]\n\nFortis operates nine regulated utility groups serving approximately 3.5 million customers. It reported about 9,900 employees and C$12 billion in annual revenue for 2025. [P139133015][https://fortisinc.com/company/about-fortis]\n[P139133017][P139133015][https://fortisinc.com/company/about-fortis]",
      "updatedAt": "2026-09-28T12:09:49.765767Z"
    },
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      "type": "PRODUCTS",
      "text": "Fortis’s principal services are electricity transmission, electricity distribution, and natural-gas transmission and distribution. Its electric utilities also generate power in some territories. ITC operates high-voltage transmission networks in the U.S. Midwest, while FortisAlberta distributes electricity without selling it directly to customers. FortisBC Energy delivers natural gas in British Columbia, and Central Hudson provides both electric and gas transmission and distribution in New York. [P139138714][P139139415][P139139421][P139139420][P139139419]\n\nFortis’s generating assets vary by utility. In Arizona, Tucson Electric Power and UNS Electric have a combined 3,442 MW of owned capacity, including 68 MW of solar and 250 MW of wind; Tucson Electric Power also sells wholesale electricity. FortisBC Electric owns four hydroelectric facilities totaling 225 MW and operates and maintains five third-party hydro facilities. Caribbean Utilities has 166 MW of diesel capacity on Grand Cayman, while FortisTCI has 95 MW of diesel and 4 MW of solar capacity in the Turks and Caicos Islands. [P139139416][P139139417][P139139418][P139139422][P139139425]\n\nElectric and gas revenue, which includes sales or delivery, transmission and wholesale electricity, accounted for approximately 95% of Fortis’s 2024 revenue; other utility services accounted for approximately 3%. Natural-gas delivery represented approximately 18% of total revenue. [T15904775][P139139590][P139139591][P139139034]\n[P139138714][P139139415][P139139421][P139139420][P139139419][P139139416][P139139417][P139139418][P139139422][P139139425][T15904775][T15904775][T15904775][P139139590][P139139591][P139139034]",
      "updatedAt": "2026-09-28T12:09:49.765767Z"
    },
    {
      "type": "GEOGRAPHY",
      "text": "Fortis operates utilities in Canada, the United States and the Caribbean. Its Canadian operations span British Columbia, Alberta, Ontario, Newfoundland and Labrador, and Prince Edward Island. In the United States, its transmission operations cover Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas, Oklahoma and Wisconsin; it also operates utilities in Arizona and New York State. Its Caribbean utilities serve Grand Cayman and the Turks and Caicos Islands, while its interest in Belize Electricity is a minority equity investment. [P139138714][P139139423]\n\nIn 2024, U.S. operations accounted for 57% of Fortis’s revenue, Canadian operations for 38% and Caribbean operations for 5%. Fortis’s corporate office is in St. John’s, Newfoundland and Labrador. [P139138712][P139138716]\n[P139138714][P139139423][P139138712][P139138716]",
      "updatedAt": "2026-09-28T12:09:49.765767Z"
    },
    {
      "type": "SEGMENTS",
      "text": "Fortis reports seven utility segments, organized largely by service territory, plus Corporate and Other. Its U.S. segments are ITC, an electric-transmission business (approximately 20.5% of 2025 consolidated revenue); UNS Energy, which provides electric generation, transmission and distribution and natural-gas distribution in Arizona (23.9%); and Central Hudson, an electric and gas utility in New York’s Mid-Hudson Valley (13.3%). [P139133682][P139133684][P139133687][T15904337]\n\nIts Canadian segments are FortisBC Energy, a British Columbia natural-gas transmission and distribution utility (15.4% of revenue); FortisAlberta, an Alberta electricity distributor (6.8%); and FortisBC Electric, an integrated electric utility in British Columbia (4.6%). Other Electric (15.2%) groups the remaining eastern Canadian and Caribbean electric utilities, including Newfoundland Power, Maritime Electric, FortisOntario and Caribbean Utilities, as well as an investment in Wataynikaneyap Power. Corporate and Other, which includes holding-company activities, contributed about 0.3%. Percentages are approximate shares of 2025 consolidated revenue. [P139133688][P139133689][P139133690][P139133691][P139133694][T15904337]\n[P139133682][P139133684][P139133687][P139133688][P139133689][P139133690][P139133691][P139133694][T15904337][T15904337][T15904337][T15904337][T15904337][T15904337][T15904337][T15904337][T15904337]",
      "updatedAt": "2026-09-28T12:09:49.765767Z"
    },
    {
      "type": "HISTORY",
      "text": "Fortis traces its utility roots to the St. John’s Electric Light Company, formed in Newfoundland in 1885. Fortis Inc. was established as a separate corporate enterprise in 1987, with the Newfoundland electric utility at its core. [https://www.newfoundlandpower.com/en/About/Who-We-Are/Our-Roots][P139134637]\n\nFortis expanded beyond Newfoundland through utility acquisitions. In 2004, it acquired electric utility operations in Alberta and British Columbia from Aquila; in 2007, it acquired Terasen, adding a substantial British Columbia natural gas business. [https://www.sec.gov/Archives/edgar/data/66960/000006696004000006/a8k_061004.htm][https://www.bcuc.com/ApplicationView.aspx?ApplicationId=144] Its expansion into the United States included the 2013 acquisition of CH Energy Group, parent of Central Hudson, and the 2014 acquisition of UNS Energy. In 2016, Fortis completed its acquisition of a controlling stake in electricity transmission company ITC Holdings. [https://www.sec.gov/Archives/edgar/data/1061393/000119312513274933/d561415dex991.htm][https://www.sec.gov/Archives/edgar/data/941138/000094113814000157/a991mergerclosingpressrele.htm][https://www.sec.gov/Archives/edgar/data/1666175/000110465916150155/a16-19757_4ex99d1.htm]\n[P139134637][https://www.newfoundlandpower.com/en/About/Who-We-Are/Our-Roots][https://www.sec.gov/Archives/edgar/data/66960/000006696004000006/a8k_061004.htm][https://www.bcuc.com/ApplicationView.aspx?ApplicationId=144][https://www.sec.gov/Archives/edgar/data/1061393/000119312513274933/d561415dex991.htm][https://www.sec.gov/Archives/edgar/data/941138/000094113814000157/a991mergerclosingpressrele.htm][https://www.sec.gov/Archives/edgar/data/1666175/000110465916150155/a16-19757_4ex99d1.htm]",
      "updatedAt": "2026-09-28T12:09:49.765767Z"
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