Fortis Inc. (“Fortis” or the “Corporation”) (TSX/NYSE: FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its 2025-2029 outlook1.
Highlights
- 2025-2029 capital plan of $26 billion, $1 billion higher than prior plan; 6.5% average annual rate base growth through 2029
- Incremental regulated growth driven by transmission investments at ITC and customer growth in Alberta
- Beyond the plan ITC also estimates at least US$3 billion in investments for MISO’s LRTP Tranche 2.1; majority expected post-2029
- Fourth quarter common share dividend increasing by 4.2%, will mark 51 years of consecutive increases in dividends paid
- Annual dividend growth guidance of 4-6% extended to 2029
“Today we are pleased to announce our $26 billion five-year capital plan, our largest to date,” said David Hutchens, President and CEO, Fortis Inc. “The plan is driven by transmission investments at ITC, resource transition in Arizona and economic and customer growth across our footprint. Notably at ITC, we see tangible opportunities beyond the five-year plan to invest in regional transmission in the U.S. Midwest supporting energy transition and load growth in the region.”
“Our regulated growth strategy remains committed to the delivery of reliable and affordable service for our customers and annual dividend growth of 4-6% through 2029 for our shareholders,” said Mr. Hutchens.
Fortis, Inc.
