Customer growth is the hook. This is not the hybrid notes
FortisBC Inc. said September 15 it now serves about 200,000 electricity customers in southern British Columbia, 9.5 percent more than in 2020. Approved capital plans put about $133 million into new infrastructure from 2025 through 2027, including substation and transmission upgrades. The utility has finished Glenmore and Duck Lake in Kelowna, is building or expanding six more sites, and is working on Saucier and DG Bell with a targeted finish at the end of 2027.
The larger line items on the backgrounder are Warfield Terminal Station at $35.2 million, expected at the beginning of 2027, and a new Fruitvale substation at $18.9 million. FortisBC also says it is near the end of an initial call for wind generation that requires at least 25 percent Indigenous equity. Later this year it will file a Long-Term Electric Resource Plan to 2050 with the British Columbia Utilities Commission.
FortisBC Inc. is the regulated electricity subsidiary of Fortis Inc. (TSX: FTS, NYSE: FTS). It owns four hydro plants and about 7,380 kilometres of lines. This note does not move the US$1 billion hybrid notes that still settle September 21, and it does not add AESO pool megawatts in Alberta.