tsx fts s & p tsx 60 component industry electricity generation & distribution founded 1987 headquarters st. john s newfoundland and labrador canada key people barry v. perry president & ceo products electricity revenue 1.44 billion can number of employees 5 936 2008 1 website www.fortisinc.com fortis inc. is a st. john s newfoundland and labrador based international diversified electric utility holding company . it operates in canada the united states central america and the caribbean . in 2005 it earned a profit of 137.1 million canadian from revenue of 1.44 billion . 2 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 . fortis currently owns the following regulated utilities fortisbc a utility in british columbia fortisalberta inc. a holding company for assets purchased from aquila inc. central hudson gas & electric a utility in new york tucson electric power and unisource energy services utilities in arizona 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 cornwall electric and algoma power 3 caribbean utilities a utility in the cayman islands fortistci a utility in the turks and caicos islands belize electricity limited a utility in belize fortis also operates three non regulated companies fortis generation hydro generation in new york state and central newfoundland . fortis properties a real estate company . griffith energy services a petroleum supplier in the eastern united states . expansion edit the company expanded into western canada in 2003 with its purchase of aquila inc. s canadian assets formerly owned by transalta canada s largest publicly traded utility . as a result of this acquisition fortis became one of alberta s major regulated electrical distribution companies serving 415 000 albertans in 2005 . atco electric is alberta s other regulated distribution company . also as a result of the 2003 acquisition fortis owns regulated generation transmission and distribution assets in british columbia . in 2007 fortis acquired terasen gas from kinder morgan which had sold the bc gas utility as a non strategic asset included in its 2005 acquisition of terasen inc. in addition to its regulated canadian assets fortis also owns unregulated assets in ontario british columbia and newfoundland . the majority of its unregulated business consists of hydroelectric generating plants . 4 fortis interests in the caribbean include a 67 % interest in belize electricity limited bel and a 95 % interest in belize electric co. ltd. the belize association of non government organisations took fortis to the judicial committee of the privy council in 2003 to have a new environmental assessment of the chalillo dam on the macal river which was a hydroelectricity development project . ecologists were concerned over the future of species such as the scarlet macaw the tapir and the black howler monkey as the project would flood 10 km2 of rainforest in belize . celebrities such as harrison ford and cameron diaz supported a movement to stop this dam . fortis and the government of belize supported the project . 5 6 on may 30 2011 it was announced that fortis has plans to acquire central vermont public service an electric utility in the us state of vermont for us 700 million pending stockholder and regulatory approval ; this acquisition would be fortis first utility acquisition in the united states . 7 gaz m tro offered a higher price and acquired cvps . 8 on february 21 2012 ch energy group a holding company for central hudson gas & electric an upstate new york utility announced a pending acquisition by fortis valued at 1.5 billion . 9 on june 27 2013 fortis inc. closed on its acquisition of chg . in 2013 fortis announced its acquisition of uns energy an arizona utility company . 10 on february 9 2016 fortis announced an agreement to acquire itc holdings corp. the largest independent transmission utility in the united states for us 11.3 billion in cash and stock . 11 references edit a b company profile for fortis inc ca ; fts . retrieved 2008 10 08 . toronto star february 8 2006 business pg . e04 retrieved via ebbsco 20 july 2006 http www.fortisontario.com assets news glpi closing final october 8 % 202009.pdf fortis annual report 2005 toronto star december 10 2003 pg . e01 retrieved via ebbsco july 20 2006 privy council approves belize dam january 31 2004 caribbeannetnews.com fortis press release fortis inc. to acquire central vermont public service corporation for us 700 million may 30 2011 . the new york times gaz metro bests fortis to buy vermont utility july 12 2011 . ch energy group press release ch energy group inc. to be acquired by fortis inc. in agreement valued at u.s. 1.5 billion retrieved february 21 2012 . canadian utility buys uns energy of arizona for 2.5 billion fortis inc. to acquire itc holdings corp. for us 11.3 billion . business wire . 2016 02 09 . retrieved 2016 02 25 . external links edit fortis official website belize electricity ltd. caribbean utilities company cayman islands fortistci turks and caicos islands v t e s & p tsx 60 companies of canada february 22 2016 agnico eagle mines agrium arc resources bank of montreal barrick gold bce inc. blackberry bombardier brookfield asset management cameco canadian imperial bank of commerce canadian national canadian natural resources canadian pacific canadian tire cenovus energy cgi group constellation software couche tard crescent point energy dollarama eldorado gold emera enbridge encana first quantum minerals franco nevada fortis inc. gildan goldcorp husky energy imperial oil inter pipeline kinross gold loblaw companies magna international manulife financial metro national bank of canada pembina pipeline potashcorp power corporation restaurant brands international rogers communications royal bank of canada saputo scotiabank shaw communications silver wheaton snc lavalin sun life financial suncor energy teck telus thomson reuters toronto dominion bank transcanada valeant weston yamana gold companies portal retrieved from https en.wikipedia.org w index.php title fortis inc. & oldid 740498451 categories s & p tsx 60 indexs & p tsx composite indexcompanies listed on the toronto stock exchangepower companies of canadafortis inc.companies based in st. john s newfoundland and labradorhidden categories pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutsch fran ais edit links this page was last modified on 21 september 2016 at 12 49 . text is available under the creative commons attribution sharealike license ; 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