Growing
responsibly

Looking back at 2022

2022 was a year of execution with strong financial, operational and sustainability results across our utilities. With a focus on responsible growth, we announced our largest five-year capital plan of $22.3 billion representing steady rate base growth of 6% and supporting annual dividend growth guidance of 4-6% through 2027.

DOWNLOAD 2022 Results

~
0
7
% EPS
year-over-year growth
$
0
4.0
 billion
capital expenditures
0
49
 consecutive years
of dividend increases
$
0
64
 billion
total assets
0

9200

dedicated employees
0
3.4
 million
electricity and gas customers
0
73
% Fortis utilities
have female CEO or board chair
~$
0
10
 million
community investment
0
28
%
GHG emissions reductions since 2019
0
10
 regulated utilities
in Canada, the U.S. and Caribbean
Unless otherwise specified, all financial information is referenced in Canadian dollars and all numbers are as at December 31, 2022.

Message from the CEO

At Fortis, we are growing responsibly, and for the 49th consecutive year we delivered dividend increases to our shareholders.

In 2022 we invested $4 billion of capital for system resiliency and modernization, and to interconnect cleaner energy to our systems. These investments translated into strong earnings per share and rate base growth. We also prioritized safety, reliability, and affordability for our customers, lowered our greenhouse gas emissions, and were recognized as a leader in Canada for our governance practices.

Our low-risk, organic growth strategy continued to define our approach, and our dedicated and skilled employees were critical to our response when devastating storms impacted our utilities.

Image of David Hutchens

Sincerely,

David Hutchins Signature

David Hutchens

President & CEO, Fortis Inc.

2022 Performance

Learn more here about our 2022 results and commitment to responsible growth.

Financial Strength

For 49 consecutive years, Fortis has delivered dividend increases to shareholders - one of the longest records for annual common share dividend increases by a Canadian public corporation.

Read more

ftbc-learn-burn

A Record Capital Plan

Our utilities invested $4 billion in our energy systems in 2022 for system resiliency and modernization, including over $600 million to interconnect cleaner energy to our systems.

Read More

power-lines

Safety & Reliability

Fortis employees are deeply connected by a strong safety culture that goes hand in hand with delivering reliable service to customers. As a group of energy companies, we continue to outperform industry averages for safety and reliability performance.

Read More

worker

Advancing ESG Priorities

We achieved a 28% reduction in Scope 1 emissions through 2022 compared to 2019 levels, equivalent to taking approximately 760,000 vehicles off the road in one year. This represents meaningful progress on our journey towards net-zero by 2050.

Read More

turbine

We are Fortis

We are a well-diversified leader in the regulated electric and gas utility industry serving 3.4 million customers throughout North America.

Copyright 2023 Fortis Inc. All rights reserved.