Fortis Inc.
Corporate brand
UnclaimedCanadian electric and gas utility holding company with regulated energy operations in North America and the Caribbean.
Last updated August 21, 2026
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Overview
Fortis Inc. is a Canadian utility holding company headquartered in St. John's, Newfoundland and Labrador. Its principal business is the ownership and operation of regulated electric and natural-gas utilities, supplemented by a smaller portfolio of non-regulated generation assets. The company operates across Canada and the United States and has interests in the Caribbean and Central America. Its utility businesses serve electricity and gas customers through transmission, distribution, generation and related infrastructure rather than selling consumer products under a conventional packaged-goods brand. Fortis was created in 1987 when shareholders of Newfoundland Light and Power Co., a regulated transmission and distribution utility, approved the formation of a separate holding company. Shares in Newfoundland Light and Power were exchanged for Fortis shares on a one-for-one basis, while the operating utility became a wholly owned subsidiary. This structure gave Fortis a platform from which to acquire and manage additional regulated energy businesses. The company expanded beyond Newfoundland and Labrador in 2003 through the acquisition of Canadian assets formerly associated with Aquila, Inc. and previously owned by TransAlta. The transaction gave Fortis a significant presence in Alberta's regulated electricity-distribution sector and also brought regulated generation, transmission and distribution assets in British Columbia. In 2007, Fortis broadened its gas operations through the purchase of Terasen Gas from Kinder Morgan, adding a major British Columbia natural-gas utility to its portfolio. Fortis subsequently pursued an international expansion strategy. Its Caribbean interests included majority ownership positions in Belize Electricity Limited and Belize Electric Co. Ltd., as well as utility operations in the Cayman Islands and Turks and Caicos. The company also entered the United States through the acquisition of Central Hudson Gas & Electric's parent, CH Energy Group, in 2013. Fortis announced an agreement to acquire Arizona-based UNS Energy in 2013 and later announced the proposed acquisition of ITC Holdings Corp., a major independent American electricity-transmission company, in 2016. The group operates through regional utility businesses including FortisBC, FortisAlberta, Newfoundland Power, Maritime Electric, FortisOntario, Central Hudson Gas & Electric, Tucson Electric Power, UniSource Energy Services, ITC transmission businesses and Caribbean utilities. Its non-regulated activities have included hydroelectric generation in New York State and central Newfoundland. The regulated model makes Fortis dependent on utility commissions and other public authorities for approvals, allowed returns, rates and capital-investment plans. As a result, its business profile is shaped by infrastructure spending, electricity and gas demand, environmental requirements, acquisition approvals and the long-term reliability of its networks. Fortis has also faced environmental controversy connected with the Chalillo Dam project on Belize's Macal River. Environmental organizations challenged the project over its expected flooding of rainforest and potential effects on wildlife, while Fortis and the Government of Belize supported the development. Overall, Fortis is best understood as an infrastructure holding company whose brand represents a portfolio of regulated energy utilities rather than a single retail electricity or gas provider.
History
Fortis originated in Newfoundland and Labrador's regulated electricity sector. In 1987, shareholders of Newfoundland Light and Power Co. voted to establish a separate holding company. The operating utility became a wholly owned subsidiary, and its shareholders received Fortis shares on a one-to-one basis. This created a corporate structure capable of holding multiple utility businesses while preserving the original regulated operating company. The first major phase of expansion came in 2003, when Fortis purchased Canadian assets associated with Aquila, Inc., assets that had previously been owned by TransAlta. The acquisition significantly increased Fortis's scale in Western Canada. It established Fortis as one of Alberta's important regulated electricity-distribution companies and also provided regulated generation, transmission and distribution assets in British Columbia. Fortis also developed non-regulated activities, especially hydroelectric generation, in parts of Canada and the United States. In 2007, Fortis acquired Terasen Gas from Kinder Morgan. The transaction added a substantial British Columbia natural-gas utility and made gas distribution an important complement to the company's electric operations. Fortis's Canadian portfolio subsequently included FortisBC, FortisAlberta, Newfoundland Power, Maritime Electric and FortisOntario, alongside generation and transmission assets. The company also expanded into the Caribbean. Its interests included a majority stake in Belize Electricity Limited and a large ownership position in Belize Electric Co. Ltd. It operated or held interests in utilities serving the Cayman Islands and Turks and Caicos. The Belize portfolio brought Fortis into public debates about energy infrastructure and environmental protection, most notably the Chalillo Dam project on the Macal River. Environmental organizations argued that the project could damage rainforest habitat and affect species including the scarlet macaw, tapir and black howler monkey. The project was supported by Fortis and the Government of Belize, and the dispute reached the Judicial Committee of the Privy Council. Fortis entered the United States through a series of transactions. In 2011, it proposed purchasing Central Vermont Public Service, but the proposed deal was displaced by a higher offer from Gaz Métro. In 2012, CH Energy Group announced a proposed acquisition by Fortis, and Fortis completed the transaction in 2013. This gave Fortis ownership of Central Hudson Gas & Electric, an upstate New York utility. Also in 2013, Fortis announced a proposed acquisition of UNS Energy, expanding its position in Arizona through utilities including Tucson Electric Power and UniSource Energy Services. In 2016, Fortis announced an agreement to acquire ITC Holdings Corp., a major independent electricity-transmission company in the United States. The proposed transaction reflected Fortis's strategy of growing through regulated utility infrastructure and adding geographically diverse transmission and distribution assets. Fortis's operating model is centered on regulated utilities. Its businesses generally require authorization from government agencies and utility commissions for rates, capital projects, ownership changes and other significant decisions. The company therefore competes less through consumer marketing than through reliability, infrastructure investment, regulatory execution and the management of long-lived energy networks. Its portfolio has included electric generation, transmission and distribution, natural-gas distribution and related utility services across Canada, the United States and the Caribbean.
- 2016
ITC Holdings acquisition agreement announced
[1]Fortis announced an agreement to acquire ITC Holdings, expanding its United States transmission platform.
- 2013
CH Energy Group acquisition closes
[1]Fortis completed the acquisition of CH Energy Group, adding Central Hudson Gas & Electric to its United States utility portfolio.
- 2013
UNS Energy acquisition announced
[1]Fortis announced a transaction to acquire Arizona-based UNS Energy and its utility businesses.
- 2007
Terasen Gas acquisition
[1]Fortis purchased Terasen Gas from Kinder Morgan and expanded its regulated natural-gas operations in British Columbia.
- 2003
Expansion into Western Canada
[1]Fortis acquired Canadian assets associated with Aquila, strengthening its Alberta electricity-distribution presence and adding British Columbia assets.
- 1987
Fortis is established as a utility holding company
[1]Shareholders of Newfoundland Light and Power approved the creation of Fortis, with the operating utility becoming a wholly owned subsidiary.
Products and positioning
A diversified utility holding company focused on regulated electricity and natural-gas infrastructure, with a portfolio spanning Canada, the United States and selected Caribbean markets.
Electric utility service
Regulated electricity distribution
Electricity-distribution networks are a core Fortis business. Regional utilities deliver power to residential, commercial and industrial customers under regulated service frameworks. The portfolio has included Newfoundland Power, Maritime Electric, FortisAlberta, FortisOntario, Tucson Electric Power and other operating companies.
Transmission infrastructure
Electricity transmission
Fortis owns or has owned regulated transmission infrastructure that moves electricity between generation resources and distribution systems. The proposed and announced ITC Holdings transaction represented a major expansion of this transmission-oriented capability in the United States.
Gas utility service · 2007
Natural-gas distribution
Through FortisBC and the former Terasen Gas business, Fortis provides regulated natural-gas distribution and related network services in British Columbia. This business complements the group's electricity operations and is managed as long-lived utility infrastructure subject to public regulation.
Electric generation
Hydroelectric generation
Fortis has operated non-regulated hydroelectric generation assets in locations including New York State and central Newfoundland. These facilities form a smaller part of the group than its regulated utility networks but extend its activities into power production.
Brand decisions
2016
Pursue ITC HoldingsM&ABackground
Fortis continued its strategy of geographic diversification through regulated North American infrastructure.
Action taken
The company announced an agreement to acquire ITC Holdings through a cash-and-stock transaction.
Aftermath
The announcement positioned Fortis to expand substantially in United States electricity transmission.
2007
Acquire Terasen GasM&ABackground
Kinder Morgan was selling the British Columbia gas utility as a non-strategic asset following its acquisition of Terasen Inc.
Action taken
Fortis acquired Terasen Gas and added regulated gas distribution to its portfolio.
Aftermath
The acquisition strengthened Fortis's position in British Columbia and diversified its utility activities beyond electricity.
2003
Acquire Canadian Aquila assetsM&ABackground
Fortis sought to expand beyond its Newfoundland and Labrador base into Western Canada's regulated utility markets.
Action taken
The company acquired Canadian assets associated with Aquila, gaining Alberta distribution operations and British Columbia generation, transmission and distribution assets.
Aftermath
Fortis became a significant regulated electricity distributor in Alberta and broadened its Canadian operating footprint.
1987
Create a separate utility holding-company structureStrategyBackground
Newfoundland Light and Power shareholders approved a corporate structure that separated the holding company from the regulated operating utility.
Action taken
Fortis was formed, with Newfoundland Light and Power becoming a wholly owned subsidiary and shares exchanged on a one-to-one basis.
Aftermath
The structure provided the foundation for Fortis to acquire and manage additional utility businesses.
Recent events
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