Fortis Inc (NYSE: FTS) operates as a holding firm in the electric and gas utility industry.
The publicly listed firm is based in Newfoundland and Labrador, Canada.
Founder Davis G Hutchens set up the firm in 1987.
The company offers regulated electricity and gas utilities and is engaged in various non-regulated hydroelectric operations.
The company serves its customers across Canada and in the region of Caribbean and the United States. Its stocks are listed on the New York Stock Exchange under the ticker of ‘FTS’.
The Canadian holding company has 3.4 million utility customers, including 1.3 gas and 2.1 electric utilities customers. The company continues to seek additional opportunities for diversifying its asset to grow and expand.
The Canadian company has 10 utility operations, namely ITC for regulated independent transmission; the regulated US Electricity+ Gas business under UNS Energy, Central Hudson; Regulated Canadian: FortisAlberta, FortisBC Energy, and FortisBC Electric.
The firm’s energy infrastructure consists of Aitken Creek and other hydroelectric generation assets.
The energy utility firm claims to invest significantly in in infrastructure to support reliable and safe distribution and transmission of natural gas and electricity to the North American customers.
The utility leadership of the company is local and operates close to its regulators and customers.
The firm says that its local team has the independence and authority to deliver the most important things in their communities. Furthermore, it focuses on the health and safety of its staff, customers, and other stakeholders.
The company also focuses on environment protection and aimed at reducing the carbon emission from its business operations by 75 per cent by 2035.
ITC along with the local residents works to understand the kinds of shrubs and plants that can be safely established around the transmission lines.
UNS Energy has installed an efficient natural gas-fired generators known as RICE (Reciprocating Internal Combustion Engine).