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Thursday, November 16, 2006

Fortis Inc.

From Wikipedia, the free encyclopedia

Fortis Inc. TSX: FTS is a St. John's, Newfoundland and Labrador based international diversified electric utility holding company. It primarily operates in Canada and the Caribbean. In 2005, it earned a profit of $137.1 million Canadian from revenue of $1.44 billion. [1]

Fortis was formed in 1987 when shareholders of the regulated transmission and distribution utility Newfoundland Light & Power Co. voted to form a separate holding company. NL&P shares were exchanged for Fortis shares on a one-to-one basis, with the regulated NL&P becoming a 100% owned subsidiary. NL&P changed its corporate name to Newfoundland Power in 1990 and its legal name in 1998.

Fortis currently owns the following regulated utilities:

* Newfoundland Power, serving 85% of the population of Newfoundland and Labrador.
* Maritime Electric, serving 90% of the population of Prince Edward Island.
* FortisOntario, a holding company for Canadian Niagara Power and Cornwall Electric
* FortisAlberta, a holding company for assets purchased from Aquila, Inc.
* FortisBC, a utility in British Columbia
* Belize Electricity, a utility in Belize
* Caribbean Utilities, a utility in the Caribbean Islands

Fortis also operates two non-regulated companies:

* Fortis Generation, a consolidation of all electrical generating assets from the above regulated companies.
* Fortis Properties, a real estate company.

thank you for References:
Fortis - official website
wikipedia.org

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