Fortis announces $28.8 billion 2026–2030 capital plan

Fortis (NYSE:FTS), a leading North American regulated electric and gas utility, reported financial results for the full year ended December 31, 2025, and announced a significant capital investment plan while reaffirming long-term dividend growth guidance.

On a GAAP basis, net earnings were $1.7 billion, or $3.40 per share, compared with the prior year.

Adjusted earnings per share were $3.53, reflecting solid underlying performance.

Capital expenditures totaled $5.6 billion in 2025, driving midyear rate base to $42.4 billion, a 7% increase year-over-year.

The company also unveiled a $28.8 billion capital plan for 2026–2030, an increase of $2.8 billion from prior expectations, focused on utility system modernization, grid reliability, renewable integration, and supporting growing demand from data centers and electrification trends.

This plan is expected to support a projected midyear rate base of $57.9 billion by 2030.

Meanwhile, Fortis reaffirmed its long-term dividend growth guidance of 4–6% annually through 2030, supported by predictable regulated earnings growth and disciplined capital allocation.