About Fortis Inc.

• Fortis news release (PDF 184 KB)

Who is Fortis Inc.

• The largest investor-owned utility in gas and electric distribution in Canada.
• Headquartered in St. John's, Newfoundland, its shares are traded on the Toronto Stock Exchange under FTS.
• Has regulated electricity distribution utilities in five Canadian provinces and three Caribbean countries and regulated gas distribution utilities in British Columbia.
• Employes over 6,000 employees and serves 2,000,000 customers through its operating companies.
• Has been a generator and distributor of electricity for more than 120 years through its operating companies.  Its expertise is in distribution utilities and small hydro.
• Regulated utility operations include holdings in eight companies which are primarily electric distribution utilities (five in Canada).
• Non-regulated operations include the operation of non-regulated hydroelectric generation assets in Canada, the US and Belize.
• Owns and operates commercial real estate in Atlantic Canada and hotels in seven provinces in Canada.
• In British Columbia, FortisBC, operates an integrated regulated utility in the southern interior of the province serving approximately 152,000 direct and indirect customers.

• Georgraphic map of Fortis interests

The Fortis vision

• To be the world leader in those segments of the regulated utility industry in which it operates and the leading service provider within its service areas.
• To manage resources prudently and deliver quality service to maximize value to customers and shareholders

Key Information about the acquisition

• The acquisition will have no impact on the operations of Terasen's companies.  It will be business as usual for Terasen's customers and partners.
• Fortis has indicated that it plans to retain Terasen's management and its employees. Its management philosophy is
  • to be successful, a utility must be operated and managed in the community it serves
  • separate operating companies with local management teams
  • decentralized decision making
  • common culture throughout the Fortis group of companies.
• Both Fortis and Terasen are committed to the needs of our employees, customers and the communities we serve. Both Fortis and Terasen share similar business philosophies based on operational excellence.
• Fortis believes in supporting the communities where it operates and expects to continue that commitment with Terasen.