Overview
Fortis Inc. is a North American regulated electric and gas utility holding company. Its businesses provide electricity and natural gas services through utility operations that include transmission, distribution and generation.[1][2]
The company operates across five Canadian provinces, ten U.S. states and the Caribbean. At year-end 2025, its approximately 9,900 employees served 3.5 million utility customers; 2025 revenue was approximately C$12 billion and total assets were C$75 billion.[3] Fortis describes its shared purpose as “Delivering a Cleaner Energy Future.” [4] [1][2][3][4]
Products & services
Fortis Inc.’s core offerings are regulated electricity and natural-gas delivery rather than manufactured products. Its utility services include electric transmission and distribution, natural-gas transmission and distribution, and electricity generation. Operating companies provide these services across Canada, the United States and the Caribbean, including integrated electric and gas service in Arizona, electric and gas utilities in New York, and electricity distribution in Alberta.[5]
ITC operates an electric-transmission network of approximately 16,000 circuit miles, serving a combined peak load of 23,502 MW.[6] FortisBC also offers customer services such as energy-efficiency advice, tools and rebates, along with information and rebates for EV charging at homes, workplaces and multi-unit buildings.[7][8] Natural-gas delivery accounted for approximately 20% of Fortis’s corporate revenue in 2025.[9] [5][6][7][8][9][6][7][8]
Geographic presence
Fortis Inc. serves 3.5 million utility customers across five Canadian provinces, ten U.S. states, and the Caribbean, with 9,900 employees at year-end 2025. Its 2025 revenue was distributed 58% to the United States, 38% to Canada, and 4% to the Caribbean; year-end assets were 65%, 33%, and 2%, respectively.[3]
Its U.S. operations include ITC transmission in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas, Oklahoma, and Wisconsin; UNS Energy in Arizona; and Central Hudson in New York. Canadian utility operations span British Columbia, Alberta, Newfoundland and Labrador, Prince Edward Island, and Ontario. Caribbean Utilities serves Grand Cayman. Fortis sold FortisTCI in the Turks and Caicos Islands in September 2025 and its Belize Electricity investment in October 2025.[5] In Ontario, FortisOntario serves locations including Fort Erie, Cornwall, Gananoque, Port Colborne, and the District of Algoma; Wataynikaneyap connects 17 remote First Nations to the provincial grid.[10]
Fortis’s corporate and registered office is in St. John’s, Newfoundland and Labrador, Canada.[11] [3][5][10][11]
Business segments
For 2025, Fortis reported seven operating segments, organized mainly by regulatory jurisdiction and service territory: ITC (high-voltage electric transmission in parts of the U.S. Midwest and Great Plains); UNS Energy (regulated electric generation, transmission and distribution, plus gas distribution, in Arizona); Central Hudson (regulated electric and gas transmission and distribution in New York); FortisBC Energy (natural-gas transmission and distribution in British Columbia); FortisAlberta (electricity distribution in southern and central Alberta); FortisBC Electric (an integrated regulated electric utility in southern interior British Columbia); and Other Electric (utilities and investments in eastern Canada and the Caribbean). The company separately presents Corporate and Other in its segment reconciliation.[12][13][14][15][16][17][18][19][20][21][22]
Approximate segment shares of 2025 consolidated revenue were: ITC 20.5%, UNS Energy 23.9%, Central Hudson 13.3%, FortisBC Energy 15.4%, FortisAlberta 6.8%, FortisBC Electric 4.6%, and Other Electric 15.2%. Their respective shares of consolidated net earnings attributable to common shareholders were 34.5%, 25.5%, 11.1%, 19.6%, 10.6%, 4.4%, and 9.7%; these exceed 100% in aggregate because Corporate and Other reported a loss equal to about 15.5% of consolidated net earnings.[23]
Fortis also reports a geographic view: 2025 revenue was approximately 58% U.S., 38% Canada, and 4% Caribbean; year-end assets were approximately 65% U.S., 33% Canada, and 2% Caribbean.[3] [12][13][14][15][16][17][18][19][20][21][22][23][23][23][23][23][23][23][23][23][23][23][23][23][23][23][23][23][3]
Company history
Fortis traces its origins to St. John’s Electric Light Company, formed in Newfoundland in 1885. In 1987, shareholders established Fortis Inc. as a utility holding company, and its shares began trading on the Toronto Stock Exchange that December. The company expanded beyond Newfoundland and Labrador in 1990 with the acquisition of Maritime Electric in Prince Edward Island, and entered the Caribbean in 2000 through an investment in the Cayman Islands.[4][24]
Fortis expanded into Western Canada in 2004 by acquiring electric utilities in Alberta and British Columbia from Aquila. It entered the U.S. utility market with the 2013 acquisition of CH Energy Group and completed the acquisition of Arizona-based UNS Energy in 2014. In 2016, it acquired ITC Holdings, a major U.S. electric transmission company. In 2025, Fortis sold its FortisTCI business and its Belize investments.[4][25][26][22][27] [4][24][25][26][22][27][4][24][25][26]
Sources
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