Ten utility franchises across North America
Barry Perry is President and CEO of Fortis.
PUF's Steve Mitnick: What's the Fortis story?
Barry Perry: Fortis is based in St. John's, Newfoundland and Labrador and owns utilities across Canada and in the United States - in Arizona with UNS Energy, the Midwest with our ITC transmission company, and New York with Central Hudson Gas and Electric. We also have utilities in the Caribbean.
Fortis was created more than thirty years ago out of a company called Newfoundland Power. Newfoundland Power and its predecessors have been in the utility business in Newfoundland since 1885. We've always been an investor-owned utility business.
Fortis, like many utility holding companies in our sector, was created to diversify the business.
We initially started expanding across Canada. We bought the utility system in Prince Edward Island, and subsequently bought interests in the Caribbean. Then we purchased small utilities in Ontario, like Cornwall Electric and Canadian Niagara Power.