Fortis(US:FTS)2023-02-10 17:20Financial Performance & Growth - Fortis delivered safe and reliable service with capital expenditures of $4.0 billion[6] - The company achieved a ~6% increase in dividends paid[6] - Adjusted EPS increased by $0.19 over 2021, reaching $2.78 in 2022[64] - The capital plan for 2023-2027 is $22.3 billion, including $5.9 billion in cleaner energy investments[33] - The company anticipates annual dividend growth of 4-6% through 2027[47, 73] Sustainability & Emissions Reduction - Fortis achieved a 28% reduction in GHG emissions since 2019[6, 23] - The company is targeting a 50% GHG emissions reduction by 2030 and 75% by 2035, aiming for net-zero emissions by 2050[23, 26, 96] - Planned coal retirements are scheduled for 2027, 2031, and 2032[26] Capital Investments & Rate Base - The company projects a low-risk rate base growth of ~6%[27] - The rate base is forecasted to grow from $31.8 billion in 2021 to $46.1 billion in 2027[33] - Major capital projects include the ITC MISO Long-Range Transmission Plan ($923 million) and UNS Energy Renewable Generation ($417 million)[94] Debt & Liquidity - Over $3 billion in long-term debt was raised in 2022, with a weighted average rate of 3.9%[55] - Approximately $400 million of the debt raised was green debt[55]