Fortis (FTS)

Competitors to Fortis (FTS)

Duke Energy 

Duke Energy offers a diverse energy portfolio and operates in the electric utility sector, serving millions across the Carolinas and the Midwest. It competes with Fortis by leveraging its extensive generation resources and better economies of scale, allowing it to provide competitively priced energy. Duke's significant investments in clean energy initiatives position it strongly in the market, further enhanced by its ability to navigate regulatory environments effectively. In contrast, Fortis's operations, primarily in Canada and parts of the U.S., limit its competitive scale compared to Duke’s extensive reach and operational complexity.

Eversource Energy 

Eversource Energy and Fortis both operate in the utility sector, providing electricity and natural gas services to residential and commercial customers. Eversource has a strong presence in New England, where its regulated utility segment has allowed it to focus on sustainable energy solutions and efficient service delivery. It also invests heavily in renewable energy sources. In comparison, Fortis has a projected growth path through its investments in infrastructure in Canada and the United States. While both companies emphasize sustainability, Eversource's focus on the New England market gives it an edge in regulatory support and community relationships, making it a strong competitor.

NextEra Energy 

NextEra Energy is one of the largest electric utility holding companies in North America and is heavily invested in renewable energy development. It competes with Fortis by focusing on innovation in energy technology and diversifying its energy portfolio with significant wind and solar assets. While Fortis is expanding its renewable footprint, NextEra has established itself as a leader in wind and solar energy, allowing it to benefit from economies of scale that Fortis currently does not match. Thus, NextEra holds a competitive advantage due to its scale and aggressive investment in green energy alternatives.

Pacific Gas and Electric Company 

Pacific Gas and Electric Company (PG&E) is one of the largest combined natural gas and electric utility companies in the U.S., primarily serving California. PG&E competes with Fortis by offering a vast service area and a comprehensive set of services. Given California's progressive policies on renewable energy and initiatives toward decarbonization, PG&E's focus on modernizing infrastructure and integrating clean energy solutions positions it favorably. While Fortis has made strides in sustainability, PG&E's established position in a more expansive market and regulatory environment gives it an enduring edge over Fortis.

Xcel Energy 

Xcel Energy and Fortis operate in the electric utility space with a focus on sustainability and service reliability. Xcel Energy, serving millions in the Midwest and West, has made significant commitments to reducing carbon emissions and increasing renewable energy sources in its energy mix. Fortis, while also investing in renewables, lacks the large-scale operations and market share that Xcel commands in its regions. Xcel Energy's proactive stance on regulatory transitions and its established position in states with growing renewable markets gives it an edge over Fortis in competitive positioning.