Fortis (Canada) Marketing Mix
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Fortis (Canada)
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Product
Regulated Electricity Transmission and Distribution
Fortis operates regulated electricity transmission and distribution as its core service, serving ~3.3 million customers across North America via 58,000 km of transmission and distribution lines (2024), generating stable regulated earnings—~62% of 2024 consolidated revenue (CAD 6.1bn). The utility prioritizes grid reliability and resiliency to support rising peak load (forecast +1.8%/yr to 2030) and meets strict safety/performance rules from provincial and state utility commissions, enabling long-term predictable cash flows.
Natural Gas Distribution and Storage
Fortis, via FortisBC, operates about 120,000 km of natural gas pipelines serving ~1.2 million customers and supplying residential heating and industrial processes across British Columbia.
Its product covers physical delivery plus management of storage and peaking facilities that maintained ~30 PJ seasonal capacity to secure supply during harsh winters.
By end-2025 Fortis expanded renewable natural gas to ~3.5% of gas volumes, cutting portfolio carbon intensity and offering lower-emission fuel choices to customers.
Renewable Energy Generation and Integration
Fortis’s product mix now includes expanding hydro, solar, and wind assets—about 1,200 MW of renewable capacity added or contracted by end-2025, up ~25% since 2020—targeting replacement of retired coal units.
The company plans C$2.5–3.0 billion in generation decarbonization investments through 2026 to align with Canada’s 2050 net-zero goals and stakeholder ESG preferences.
Operational focus keeps grid balance via firm hydro and gas peakers while integrating ~40% variable renewables at select regional systems to maintain reliability.
Electric Vehicle Charging Infrastructure
Fortis expands beyond utility roles by installing, operating, and maintaining public and residential EV fast-charging stations across its Canadian and U.S. territories, supporting the shift to low-carbon transport.
This positions Fortis as a green-economy enabler and new revenue source—EV charging demand in North America grew ~60% in 2024, and Fortis reported capital investments aimed at EV infrastructure in its 2024 filings.
- Network: public + residential fast chargers
- Services: install, maintain, operate
- Market: North American EV charging up ~60% in 2024
- Strategy: capture new revenue, support decarbonization
Energy Efficiency and Demand Response Programs
Fortis offers smart-thermostat rebates, home energy audits, and industrial demand-side management to cut customer bills and peak load; in 2024 these programs saved an estimated 120 GWh and deferred ~CAD 150m in generation capital spending across its Canadian utilities.
They boost satisfaction and lower churn by ~4% (2023 customer surveys) while peak reduction incentives achieve 10–18% load drops during critical hours, aligning customer savings with utility CAPEX deferral.
- 2024 savings: ~120 GWh
- CAPEX deferred: ~CAD 150m
- Peak reduction: 10–18%
- Customer churn cut: ~4%
Fortis: CAD6.1B utility with 62% regulated revenue, 1.2GW renewables & C$2.5–3B decarb capex
Fortis sells regulated electricity and gas delivery plus generation, storage, EV charging, DSM and RNG offerings, producing CAD 6.1bn revenue in 2024 with ~62% regulated distribution income and ~1,200 MW renewables by end-2025; C$2.5–3.0bn decarbonization capex planned to 2026, ~120 GWh DSM savings in 2024, ~3.5% RNG mix, and ~3.3m electricity + 1.2m gas customers.
| Metric | Value |
|---|---|
| 2024 Revenue | CAD 6.1bn |
| Regulated share | ~62% |
| Customers (elec/gas) | 3.3m / 1.2m |
| Renewable capacity (2025) | ~1,200 MW |
| RNG share | ~3.5% |
| DSM savings (2024) | ~120 GWh |
| Decarb capex to 2026 | C$2.5–3.0bn |
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Place
Western Canadian Utility Operations
Fortis, via FortisBC and FortisAlberta, dominates Western Canada energy, serving over 1.1 million customers across BC and Alberta as of 2025 and supplying natural gas and electricity from cities to remote communities.
Localized grids and gas networks — over 60,000 km of distribution lines combined — let Fortis capture regional GDP sectors like LNG, mining, and oilfield services, contributing to about 18% of consolidated Canadian regulated earnings in 2024.
Eastern Canadian and Maritime Presence
Fortis (Canada) holds dominant positions in the Atlantic provinces via subsidiaries like Newfoundland Power and Maritime Electric (PEI), serving ~360,000 customers combined and generating regulated annual revenues around CAD 1.1 billion (2024). These utilities operate under exclusive franchise agreements, securing captive customer bases and predictable rate-regulated cash flows. Geographic isolation raises logistics costs and requires resilient local infrastructure to endure frequent maritime storms and ice, increasing capex for hardening and outage response.
United States Regulated Market Expansion
Caribbean Utility Investments
- ~120,000 customers combined
- CAD 1.8B regulated assets (2024)
- ~CAD 150M resilience investments since 2019
- Higher regulatory/tariff variability than North America
Digital Customer Service Platforms
Fortis (Canada) uses digital customer service platforms—web portals and mobile apps—to let customers manage accounts, track usage, and get outage alerts in real time, cutting visits to physical service centers.
In 2024 Fortis reported 42% of customer interactions handled digitally and a 15% drop in call-center volume, improving operational efficiency and lowering service costs.
- 42% digital interactions (2024)
- 15% reduction in call-center volume
- Real-time outage alerts and usage monitoring
Fortis: 1.58M Customers, CAD1.8B Island Assets, 45% US Asset Share, 42% Digital Use
Fortis’s Place spans Canada, US, Caribbean: ~1.46M North American customers (BC/AB ~1.1M; Atlantic ~360k), ~120k island customers; CAD 1.8B regulated island assets (2024); US assets ~45% of consolidated assets; digital channels handled 42% of interactions (2024), cutting call volume 15%.
| Metric | Value |
|---|---|
| North American customers | ~1.46M |
| Island customers | ~120k |
| Island regulated assets (2024) | CAD 1.8B |
| US share of assets | ~45% |
| Digital interactions (2024) | 42% |
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Promotion
Regulatory and Government Relations
Fortis prioritizes regulatory and government relations, briefing provincial utility commissions and Ottawa regularly to support its CAD 2.9 billion 2025 capital plan and to justify rate-base growth.
The company files transparent rate cases—showing service metrics like 99.98% reliability and storm restoration times—to secure allowed returns; in recent 2024 decisions, similar utilities received ROEs near 9.5%.
Active advocacy and stakeholder engagement aim to align regulators with Fortis’s investment case so revenue requirements and authorized return on equity reflect needed infrastructure spending.
Sustainability and ESG Reporting
Fortis promotes to global investors via detailed ESG reports, citing its 2024 target of 50% greenhouse gas reduction by 2035 and a 2024 scope 1–3 baseline, which supports trust among institutions favoring sustainable returns.
The company highlights 40% board diversity as of 2024 and published its TCFD-aligned disclosures, attracting yield-seeking pension funds and ESG ETFs that value governance metrics.
This promotion helps lower Fortis’s weighted average cost of capital—analysts estimate a 25–50 basis-point ESG premium—and sustains a premium P/E versus utility peers in 2024 equity markets.
Community Investment and Sponsorships
Fortis builds local brand equity by funding community programs, scholarships, and conservation projects across its Canadian service areas, spending about CAD 12.5m on community and charitable initiatives in 2024 to support goodwill and stakeholder ties. These efforts are amplified via local media and social channels, driving positive sentiment that eases permitting and regulatory approvals for infrastructure projects. Positive community sentiment reduces opposition risk and can accelerate project timelines.
Safety and Conservation Awareness Campaigns
Fortis uses traditional and digital ads to promote 'Call Before You Dig' and conservation tips, reaching millions—Fortis Inc. reported $6.2 billion in 2024 revenue, and safety campaigns lower incident rates and outage costs.
These programs cut operational risk and help customers save on bills (typical household savings 5–10%), boosting Fortis’s reputation and strengthening its social license to operate.
- Reach: national ads + social media; millions exposed
- Impact: incident reduction, lower outage costs
- Savings: customers save ~5–10% on energy
- Business effect: supports $6.2B 2024 revenue and reputation
Investor Relations and Financial Communications
- CAD 12.5B 2025–2029 capex
- 48 years dividend growth
- Target 4–6% EPS CAGR 2025–2029
- S&P A, Moody’s A2 (2025)
- ~4.0% trailing dividend yield (2025)
Fortis: CAD12.5B Capex, 48-Year Dividend Streak, A/A2 Ratings, ~4% Yield
Fortis promotes its CAD 12.5B 2025–2029 capex and 48‑year dividend track record to regulators, investors, and communities via rate cases, ESG/TCFD reports, local programs (CAD 12.5m in 2024), and safety campaigns; this supports credit ratings (S&P A, Moody’s A2 in 2025), ~4.0% trailing dividend yield and a 4–6% EPS CAGR target.
| Metric | Value |
|---|---|
| 2024 Revenue | CAD 6.2B |
| 2024 Community Spend | CAD 12.5m |
| 2025–29 Capex | CAD 12.5B |
| Credit Ratings (2025) | S&P A; Moody’s A2 |
| Dividend Yield (2025) | ~4.0% |
Price
Regulated Cost-of-Service Pricing
The price customers pay for Fortis services is set through regulated cost-of-service rate-making, not market competition; provincial utility commissions (e.g., Alberta Utilities Commission, New Brunswick Energy and Utilities Board) approve rates that recover operating costs plus a fair return on invested capital.
Regulators allowed Fortis Inc. utilities a combined ROE range around 8.5–9.0% in recent 2024–2025 decisions, supporting financial viability while capping consumer bills and limiting monopolistic pricing.
Rate Case Filings and Adjustments
Price changes occur via formal rate case applications; Fortis (Fortis Inc., TSX:FTS) must justify revenue increases with evidence of capital expenditures—Fortis reported CAD 2.9B in 2024 capital investments— or rising O&M costs.
Filings are public, invite stakeholder intervention, and face regulatory staff audits; Canadian provincial regulators approved ~70–85% of requested revenue adjustments in recent years.
Successful rate cases are Fortis’s main pricing tool to cover higher cost of providing reliable energy and to recover grid modernization expenses.
Tiered and Time-of-Use Rate Structures
Fortis uses tiered rates where unit prices rise past set thresholds—e.g., residential blocks often jump ~15–30% above baseline after 1,000 kWh/month—encouraging conservation and cutting peak consumption.
Time-of-use pricing in several Fortis jurisdictions charges peak hours up to 1.5x off-peak rates; in Ontario and B.C. pilots, peak demand fell 5–12%, lowering system costs.
Affordability Programs and Rebates
Fortis lowers net prices via low-income assistance and efficiency rebates—programs that served ~120,000 customers and delivered C$45 million in support across Canadian subsidiaries in 2024, cutting average residential bills by ~4% for recipients.
These measures, often government-mandated, preserve affordability, limit political pushback on 2023–25 rate cases, and reduced bad-debt expense by an estimated C$12 million in 2024.
- 120,000 customers reached (2024)
- C$45M in support (2024)
- ~4% average bill reduction for recipients
- C$12M lower bad-debt expense (2024)
Capital Expenditure Recovery Mechanisms
Fortis (Canada) recovers its multi‑billion dollar capital program—about CAD 7.5B planned 2024–2028—by amortizing costs over asset lives, so long‑term customer prices reflect that investment.
Regulatory riders/trackers (eg. clean energy and wildfire mitigation riders) pass specific costs to customers, keeping base rates aligned with grid modernization and the shift to lower‑carbon supply.
- CAD 7.5B capex 2024–2028
- Costs recovered over asset useful life (20–40 yrs)
- Riders/trackers for clean energy, wildfire mitigation
- Price rises match modernization and decarbonization
Fortis: Regulated ROE ~8.5–9%, C$7.5B capex 2024–28, C$45M aid cuts bills ~4%
Fortis prices are regulator‑set cost‑of‑service rates—recent 2024–25 ROE approvals ~8.5–9.0%—with rate cases tied to C$2.9B 2024 capex and a C$7.5B 2024–28 program; riders pass clean‑energy/wildfire costs and tiered/time‑of‑use blocks shift consumption. Low‑income aid reached 120,000 customers in 2024 (C$45M support), cutting bills ~4% and reducing bad debt ~C$12M.
| Metric | 2024/2024–28 |
|---|---|
| ROE | 8.5–9.0% |
| 2024 capex | C$2.9B |
| 2024–28 capex | C$7.5B |
| Low‑income support | 120,000 customers; C$45M |
| Bad‑debt reduction | C$12M |