Muskrat Dam First Nation Energized, Connecting to Provincial Power Grid
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 23 2026
0mins
Source: Globenewswire
- Grid Connection Achievement: On April 9, 2026, Muskrat Dam First Nation was connected to the Ontario power grid, ending nearly 30 years of reliance on diesel power, marking a significant breakthrough in community infrastructure and expected to facilitate future construction and development.
- Cost Savings Potential: With grid power, the community will no longer incur high costs associated with winter diesel transport, allowing redirected funds to be allocated to other community priorities, thereby enhancing overall quality of life.
- Infrastructure Expansion Plans: Chief Carla Duncan stated that the grid connection will enable the community to plan new buildings, including a construction camp and an Aboriginal Head Start Program, addressing the growing housing needs of community members.
- Importance of Partnerships: Wataynikaneyap Power CEO Margaret Kenequanash emphasized that successfully connecting the 16th First Nation showcases the strength of partnerships, laying the groundwork for future infrastructure development.
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Analyst Views on FTS
Wall Street analysts forecast FTS stock price to fall
7 Analyst Rating
2 Buy
4 Hold
1 Sell
Hold
Current: 56.650
Low
49.50
Averages
53.87
High
57.51
Current: 56.650
Low
49.50
Averages
53.87
High
57.51
About FTS
Fortis Inc. is a Canada-based diversified regulated electric and gas utility holding company. Its regulated utilities include ITC, UNS Energy, Central Hudson, FortisBC Energy Inc., FortisAlberta Inc., FortisBC Inc. and Other electric. The ITC includes Investment Holdings Inc., ITC Holdings Corp. and the electric transmission operations of its regulated operating subsidiaries, which include International Transmission Company, Michigan Electric Transmission Company, LLC, ITC Midwest LLC and ITC Great Plains, LLC. UNS Energy includes UNS Energy Corporation, which primarily includes Tucson Electric Power Company, UNS Electric, Inc. and UNS Gas, Inc. The Central Hudson includes CH Energy Group, Inc., which primarily includes Central Hudson Gas & Electric Corporation. Other Electric include Eastern Canadian and Caribbean utilities, as follows: Newfoundland Power Inc., Maritime Electric Company, Limited, FortisOntario Inc., and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Fortis to Release Q2 2026 Financial Results on July 31
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- Teleconference Participation: Investors and analysts can join the teleconference by calling 1.833.821.0229 (toll-free in North America) or 1.647.846.2371 (international), with a recommendation to dial in 10 minutes early to ensure smooth access, and no access code is required.
- Webcast and Replay Availability: The meeting will be live-streamed on Fortis's website, and a recording will be available two hours after the call until August 31, 2026, ensuring that those unable to attend live can still access the information.
- Company Background: Fortis is a diversified leader in the North American regulated electric and gas utility industry, with 2025 revenues of $12 billion and total assets of $77 billion, serving customers across five Canadian provinces, ten U.S. states, and the Cayman Islands, highlighting its extensive market influence.
See More
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- Grid Connection Achievement: On April 9, 2026, Muskrat Dam First Nation was connected to the Ontario power grid, ending nearly 30 years of reliance on diesel power, marking a significant breakthrough in community infrastructure and expected to facilitate future construction and development.
- Cost Savings Potential: With grid power, the community will no longer incur high costs associated with winter diesel transport, allowing redirected funds to be allocated to other community priorities, thereby enhancing overall quality of life.
- Infrastructure Expansion Plans: Chief Carla Duncan stated that the grid connection will enable the community to plan new buildings, including a construction camp and an Aboriginal Head Start Program, addressing the growing housing needs of community members.
- Importance of Partnerships: Wataynikaneyap Power CEO Margaret Kenequanash emphasized that successfully connecting the 16th First Nation showcases the strength of partnerships, laying the groundwork for future infrastructure development.
See More
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- Executive Participation: President and CEO David Hutchens and CFO Jocelyn Perry will discuss the results, ensuring transparency and addressing questions from investors and analysts, thereby enhancing market confidence.
- Shareholder Meeting Details: Fortis will also hold its Annual Meeting of Shareholders on May 7, 2026, offering both in-person and online participation options, allowing shareholders to ask questions during the meeting, reflecting the company's commitment to shareholder engagement.
- Company Background: Fortis reported $12 billion in revenue for 2025 and total assets of $75 billion, employing 9,900 staff to serve utility customers across five Canadian provinces, ten U.S. states, and the Cayman Islands, underscoring its leadership in the North American utility sector.
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- Earnings Release Schedule: Fortis Inc. will release its Q2 2026 financial results on July 31, 2026, with President and CEO David Hutchens and CFO Jocelyn Perry providing insights, which are expected to deliver critical financial performance data for investors.
- Teleconference Participation: Investors and analysts can join the teleconference by calling 1.833.821.0229 (toll-free in North America) or 1.647.846.2371 (international), with a recommendation to dial in 10 minutes early to ensure smooth access, and no access code is required.
- Webcast and Replay Availability: The meeting will be live-streamed on Fortis's website, and a recording will be available two hours after the call until August 31, 2026, ensuring that those unable to attend live can still access the information.
- Company Background: Fortis is a diversified leader in the North American regulated electric and gas utility industry, with 2025 revenues of $12 billion and total assets of $77 billion, serving customers across five Canadian provinces, ten U.S. states, and the Cayman Islands, highlighting its extensive market influence.
See More
Muskrat Dam First Nation Energized, Connecting to Provincial Power Grid
- Grid Connection Achievement: On April 9, 2026, Muskrat Dam First Nation was connected to the Ontario power grid, ending nearly 30 years of reliance on diesel power, marking a significant breakthrough in community infrastructure and expected to facilitate future construction and development.
- Cost Savings Potential: With grid power, the community will no longer incur high costs associated with winter diesel transport, allowing redirected funds to be allocated to other community priorities, thereby enhancing overall quality of life.
- Infrastructure Expansion Plans: Chief Carla Duncan stated that the grid connection will enable the community to plan new buildings, including a construction camp and an Aboriginal Head Start Program, addressing the growing housing needs of community members.
- Importance of Partnerships: Wataynikaneyap Power CEO Margaret Kenequanash emphasized that successfully connecting the 16th First Nation showcases the strength of partnerships, laying the groundwork for future infrastructure development.
See More
Fortis Inc. Announces Annual Meeting Voting Results
- Election Results: At the Annual Meeting, Fortis shareholders elected 12 directors with support rates exceeding 96%, notably Mary C. Hemmingsen received 99.87% approval, indicating strong shareholder confidence in governance, which enhances management stability and trust.
- Auditor Appointment: Shareholders approved Deloitte LLP as the Corporation's auditors with a 99.78% support rate, ensuring financial transparency and compliance, which is crucial for boosting investor confidence and the company's reputation.
- Compensation Vote: The non-binding advisory vote on executive compensation passed with 95.15% approval, reflecting shareholder endorsement of the compensation policy, while also providing a basis for future adjustments to the pay structure, potentially impacting executive incentive designs.
- Company Overview: Fortis reported $12 billion in revenue for 2025 and total assets of $77 billion, employing 9,900 staff to serve utility customers across five Canadian provinces, ten U.S. states, and the Cayman Islands, showcasing its leadership in the North American utility sector.
See More
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- Earnings Performance: Fortis reported a GAAP EPS of C$0.99 for Q1 2023, demonstrating the company's ongoing ability to generate stable earnings, which enhances investor confidence in its future growth prospects.
- Capital Expenditure Plans: The company recorded C$1.4 billion in capital expenditures in the first quarter, aligning with its C$5.6 billion annual capital plan, indicating a strong commitment to infrastructure investment that will improve service quality and customer satisfaction.
- Long-Term Growth Outlook: Fortis's C$28.8 billion five-year capital plan is expected to increase the midyear rate base from C$42.4 billion in 2025 to C$57.9 billion by 2030, translating into a compound annual growth rate of 7%, laying a solid foundation for future earnings growth.
- Dividend Growth Guidance: The anticipated long-term growth in the rate base is expected to drive earnings that support a dividend growth guidance of 4-6% annually through 2030, further enhancing shareholder return expectations.
See More
Fortis Scheduled to Announce Q1 Earnings on May 6
- Earnings Announcement Timing: Fortis is set to announce its Q1 2023 earnings before market open on May 6, drawing significant attention from investors regarding its performance amid the current economic climate.
- Earnings Expectations: The consensus EPS estimate stands at $0.73, with revenue projected at $2.61 billion, which could directly influence investor confidence and market reactions.
- Historical Performance Review: Over the past two years, Fortis has beaten EPS estimates 100% of the time, although it has not exceeded revenue expectations, indicating stable profitability but challenges in revenue growth.
- Estimate Revision Trends: In the last three months, there have been no upward revisions to EPS estimates and one downward revision, reflecting a cautious market sentiment regarding Fortis's future earnings potential, which may affect investor decisions.
See More
Fortis to Release Q1 2026 Financial Results on May 6
- Earnings Release Schedule: Fortis Inc. will release its Q1 2026 financial results on May 6, 2026, with a teleconference and webcast at 8:30 a.m. (Eastern), aimed at providing shareholders and analysts with the latest financial insights.
- Executive Participation: President and CEO David Hutchens and CFO Jocelyn Perry will discuss the results, ensuring transparency and addressing questions from investors and analysts, thereby enhancing market confidence.
- Shareholder Meeting Details: Fortis will also hold its Annual Meeting of Shareholders on May 7, 2026, offering both in-person and online participation options, allowing shareholders to ask questions during the meeting, reflecting the company's commitment to shareholder engagement.
- Company Background: Fortis reported $12 billion in revenue for 2025 and total assets of $75 billion, employing 9,900 staff to serve utility customers across five Canadian provinces, ten U.S. states, and the Cayman Islands, underscoring its leadership in the North American utility sector.
See More
