ST. JOHN’S, Newfoundland and Labrador, Dec. 23, 2020 (GLOBE NEWSWIRE) — Fortis Inc. (“Fortis” or the “Company”) (TSX/NYSE: FTS) right now introduced that the Arizona Company Fee (“ACC”) has permitted new charges in Tucson Electrical Energy’s (“TEP”) normal charge software efficient January 1, 2021.
The ACC permitted charge base of US$2.7 billion, together with roughly US$1.2 billion invested because the final charge order. The ACC additionally permitted an allowed return on fairness of 9.15% and fairness capital construction of 53% in comparison with an allowed return on fairness and fairness capital construction beforehand of 9.75% and 50%, respectively. The choice features a 0.20% return on the honest worth increment.
TEP has been upgrading its transmission and distribution programs to serve the Tucson space’s increasing inhabitants, help financial development and meet its prospects’ evolving vitality wants. TEP investments present secure and dependable service to prospects whereas transitioning to a cleaner, extra versatile and resilient vitality portfolio.
Yesterday’s choice helps dependable, sustainable and reasonably priced service to prospects in Tucson, Arizona. As TEP embarks on a cleaner vitality future and shifts to renewable producing sources, prospects will profit from this vitality transition whereas realizing continued reliability and affordability.
About Fortis
Fortis is a well-diversified chief within the North American regulated electrical and fuel utility trade, with 2019 income of $8.8 billion and complete belongings of $56 billion as at September 30, 2020. The Company’s 9,000 staff serve utility prospects in 5 Canadian provinces, 9 U.S. states and three Caribbean international locations.
Fortis shares are listed on the TSX and NYSE and commerce beneath the image FTS. Extra data may be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov.
For additional data contact
Investor Enquiries:
Ms. Stephanie Amaimo
Vice President, Investor Relations
Fortis Inc.
248.946.3572
investorrelations@fortisinc.com
Media Enquiries:
Ms. Karen McCarthy
Vice President, Communications and Company Affairs
Fortis Inc.
709.737.5323
media@fortisinc.com
A pdf model of this press launch is on the market at: http://ml.globenewswire.com/Useful resource/Obtain/6331a711-0e96-400a-ae4f-6a16dcd70767
