Sunday, March 7, 2021

Fortis News

Jan De Nul orders Offshore Installation Vessel

Photo: Jan De Nul Group

Six months after the offshore installation vessel Voltaire, Jan De Nul Group orders Les Alizés, a floating installation crane vessel from the CMHI Haimen shipyard in China.Together with the Voltaire, this new vessel will be in a super-size class of its own, capable of building the newest generation of offshore wind farms. Les Alizés, that will be ready in 2022, is equipped with a crane having a lifting capacity of 5,000 tons and equally impressive lifting heights.

SEA\LNG Welcomes Vancouver Fraser Port

The Vancouver Fraser Port Authority has joined SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel. Vancouver Fraser Port  is the first North America port member to join the industry group.The Vancouver Fraser Port Authority is the federal agency of the Port of Vancouver, Canada’s largest port…

British Columbia Natgas Exports to Washington Rise Slowly After Pipe Blast

© Jim / Adobe Stock

The amount of natural gas moving from British Columbia to Washington state through the Sumas hub edged up over the weekend after Enbridge Inc last week returned a pipeline to service following a pipe blast in British Columbia.The reduction in the amount of gas flowing through the point, however, caused prices at the hub to rocket to their highest since 2014.Enbridge returned a 30…

California Wind Demand Energizes Transmission Firms

A firm controlled by Philip Anschutz, the billionaire entertainment and pro sports magnate, will soon build the largest wind farm in the United States to serve utilities in California, where officials have set ambitious green power goals. The $5 billion project, however, will be constructed 700 miles away in Wyoming, a state better known for coal mines and oil fields. The vast distance…

Fortis, GIC Complete Acquition of ITC Holdings

Fortis Inc. and GIC Private Limited ("GIC") announced today the closing of the approximately US$11.3 billion acquisition of Novi, Michigan-based ITC Holdings Corp. ("ITC"). Fortis is now among the top 15 North American regulated investor-owned utilities ranked by enterprise value. Its 8,000 employees serve customers at utility operations in five Canadian provinces, nine U.S. states and three Caribbean countries.

Fortis Joins Energy Impact Partners Utility Coalition

Energy Impact Partners LP (EIP) today announced the addition of Fortis Inc. to its Nexus strategic partner network. Fortis joins Southern Company (NYSE:SO), National Grid plc (NYSE:NGG), Xcel Energy Inc. (NYSE:XEL), Ameren Corporation (NYSE:AEE) and Great Plains (NYSE:GXP) as strategic partners investing in innovative technologies to improve customer service, reduce costs and increase revenues.

Fortis Earn $ 151 mln in 3Q

Fortis Inc. released its third quarter results today. Driven by its U.S. utility acquisitions, completion of the Waneta Expansion, and strong results from its other utilities, Fortis' net earnings attributable to common equity shareholders were $151 million, or $0.54 per common share, and $145 million, or $0.52 per common share, on an adjusted basis. "All of our businesses contributed to our strong third quarter earnings…

Fortis Ink Belize Electricity Deal

Fortis Inc. announced today that it has agreed to terms of a settlement with the Government of Belize (the Government") regarding the Government’s expropriation of the Corporation’s approximate 70% interest in Belize Electricity Limited ("BEL") in June 2011. The terms of the Settlement include a one-time US$35 million cash payment to Fortis from the Government and a reduction of the Corporation’s common equity position in BEL to approximately 33%.

Central Hudson's 3-Yr Rate Plan Approved

The New York State Public Service Commission (the "PSC") today approved a new three-year rate plan for Central Hudson Gas & Electric Corporation, an indirect, wholly owned subsidiary of Fortis Inc. providing for critical system investments and customer service programs to meet the energy needs of the Mid-Hudson Valley. Covering the period July 1, 2015 through June 30, 2018, the…

Fortis Shareholders Elect 11 Directors

Fortis Inc. announces that the nominees listed in the Corporation's Notice to Shareholders and Management Information Circular dated 20 March 2015 were elected as Directors of Fortis at the Corporation's Annual Meeting of Shareholders held earlier today in St. John's, NL. Tracey C. Pierre J. Paul J. Peter E. Maura J. Ida J. Douglas J. Ronald D. David G. Barry V. Fortis Inc. is a leader in the North American electric and gas utility business…

Fortis Delivers 1Q 2015 Earnings of $198 mi

The first quarter results of Fortis Inc.released today indicate that the company is positioned for a strong 2015 performance. In this regards Barry Perry, President and Chief Executive Officer, Fortis stated, "The $900 million, 335 megawatt Waneta Expansion hydroelectric generating facility in British Columbia came online early April, six weeks ahead of schedule and on budget, while maintaining an excellent safety and environmental protection record.

Waneta Hydroelectric Facility On-Line

The Waneta Expansion Limited Partnership, a partnership between Fortis Inc. Columbia Power Corporation and Columbia Basin Trust, announced that the $900 million, 335-megawatt Waneta Expansion hydroelectric generating facility near Trail, British Columbia is online and generating power. Fortis has a 51% controlling ownership interest in the Waneta Expansion. All of the output of the Waneta Expansion will be sold to BC Hydro and FortisBC Inc. under 40-year contracts.

Fortis Declares Q2 Dividends

The Board of Directors of Fortis Inc. $0.34 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on 1 June 2015 to the Common Shareholders of record at the close of business on 19 May 2015. Fortis has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes.

TEP Solar Array at Fort Huachuca

Tucson Electric Power (TEP), an indirect wholly owned subsidiary of Fortis Inc. (TSX:FTS), joined military and federal officials today to dedicate a large solar array at Fort Huachuca that will help the U.S. Army achieve its renewable energy and energy security goals. The 17.2 megawatt (MW) array, completed in December, produces enough power to satisfy one-quarter of the base’s energy needs, equivalent to the annual electric usage of about 3,000 homes.

Fortis to Host Inaugural U.S. Investor Day on April 1

Fortis Inc. will host its inaugural U.S. Investor Day on Wednesday, April 1, 2015 in New York. The event will take place at The New York Palace hotel, 455 Madison Avenue at 50th Street (Spellman Room). Registration (and a continental breakfast) will begin at 7:30 a.m. (Eastern) on April 1, 2015 with management presentations scheduled from 8:30 a.m. to 11:00 a.m. (Eastern). Institutional investors…

Lundin Petroleum Drills Dry North Sea Well

Swedish oil firm Lundin Petroleum drilled a dry well in the Norwegian sector of the North Sea, near the Snorre field, the Norwegian Petroleum Directorate said on Tuesday. Shareholders in the licence include Lundin Petroleum with 60 percent, Bayerngas Norge with 30 percent and Fortis Petroleum Norway with 10 percent. Reporting by Stine Jacobsen

Oil at Five-Year Low, Global Markets Plunge

Brent crude hits five-year low, hurting stocks; Greek markets plunge as government brings forward vote. Chinese shares take biggest one-day fall in five years. Oil prices plumbed fresh five-year lows on Tuesday, prompting investors worried about the global economy and renewed political uncertainty in Greece to dump shares. The Athens government brought forward a presidential vote…

FortisBC Starts Expansion of Tilbury LNG Facility

FortisBC – a subsidiary of Fortis Inc. has officially started construction of its $400 million Tilbury LNG Facility expansion project today. The company is adding 1.1 million gigajoules of liquefied natural gas (LNG) to storage and 34,000 gigajoules per day of liquefaction capacity. FortisBC marked the occasion with a ground-breaking ceremony attended by The Honourable Christy Clark…

Final Payment on Fortis Debentures

Fortis Inc. announced that holders of its 4% convertible unsecured subordinated debentures represented by instalment receipts  that the final instalment payment of $667 per $1,000 principal amount of Debentures is due by October 27, 2014. Payment must be submitted by holders through their broker, investment advisor or other intermediary using the electronic payment system maintained by CDS Clearing and Depository Services Inc. ("CDS").

Fortis Bags 39.7 MW Project in Grand Cayman

Fortis Inc. announced that the Electricity Regulatory Authority has selected the proposal of Caribbean Utilities Company, Ltd., the Corporation's operating utility on Grand Cayman, Cayman Islands, to build new generation capacity in response to the ERA's request for proposals issued on January 31, 2014. As a result, Caribbean Utilities will develop and operate a new 39.7‑megawatt diesel power plant, including a 2.7-MW waste heat recovery steam turbine.