Fortis was formed in 1987 when shareholders of the regulated transmission and distribution utility Newfoundland Light & Power Co. voted to form a separate holding company. NL&P shares were exchanged for Fortis shares on a one-to-one basis, with the regulated NL&P becoming a 100% owned subsidiary.
Fortis currently owns the following regulated utilities:
* Newfoundland Power, serving 85% of the population of Newfoundland and Labrador
* Maritime Electric, serving 90% of the population of Prince Edward Island
* FortisOntario, a holding company for Canadian Niagara Power, Cornwall Electric, and Algoma Power
* FortisAlberta, a holding company for assets purchased from Aquila, Inc.
* FortisBC, a utility in British Columbia
* Belize Electricity Limited, a utility in Belize
* Caribbean Utilities, a utility in the Cayman Islands
* Terasen Gas, a utility supplying natural gas to 95% of gas users in British Columbia
Fortis also operates two non-regulated companies:
* Fortis Generation, hydro generation in New York state and central Newfoundland.
* Fortis Properties, a real estate company.