Description
Fortis Inc. On The Grid Growth Radar: Arizona, Big Cedar & Rate Base Expansion!
Fortis Inc. reported a first quarter 2026 net earning of $501 million, equating to $0.99 per common share, reflecting a largely stable start to the year aligned with company expectations. The utility group invested $1.4 billion in capital projects, successfully completing 25% of its $5.6 billion capital plan for 2026, supporting its longer-term strategic objectives focused on infrastructure development and customer affordability. The company highlighted regulatory progress, including a constructive rate case outcome for UNS Gas and ongoing proceedings for Tucson Electric Power (TEP) in Arizona. The rate cases feature formulaic rate frameworks and allowed returns on equity (ROE) in the range of approximately 9.6% to 9.75%, with equity ratios around 55-56%. These regulatory developments underpin Fortis Inc.’s plan for approximately 7% average annual rate base growth through 2030.
