Fortis Inc. FTS recently announced its new five-year capital investment plan for the 2021-2025 period. These investments will aim at providing safe, reliable and affordable services to the company’s customers, support its investment-grade credit ratings and dividend growth, and add stability to its shareholders.
Moreover, the company issued an update on its carbon emission cutback plans along with dividend policy.
Capital Investment Plans
Update on 2020 Plans: Major capital projects remain on track and are progressing per the plan. The utility’s current-year capex of $4.3 billion remains on target and is likely to grow its rate base this year by approximately 8%.
Future Plans: The electric utility plans to invest $19.6 billion in the 2021-2025 period, increasing $800 million from the prior year’s plan. Of nearly $20 billion, $5.1 billion is reserved for electric transmission infrastructure at ITC Holdings Corp. while $4.4 billion is likely to be spent on Fortis’