Fortis Inc. (NYSE:FTS) Q4 2022 Earnings Call Transcript

David Hutchens: Yeah. That’s a great question. It’s the same thing that we’re seeing in every one of our jurisdictions. And in Alberta, we’re just the distribution system operator there. So our rates are varies, kind of slow and steady increasing part of the bill. It’s not a very volatile, it’s not volatile at all. So this is the rate increase that we got going this year, pales in comparison to the increases that they’re seeing in the actual power part of their bill, the energy part. So we’re obviously watching that. We are investing as we need to invest in the system and the needed reliability upgrades that we need to do to connect new customers. Obviously, the Alberta economy is a bit cyclical. So we see the boom and bust on growth, and we’re seeing good growth there now and hopefully, for a long period of time.

So we’re cognizant of that cost focus, but it’s really not our part of the build that’s causing the angst. We do know though that it’s a total bill perspective that the regulators look at, in that province, but we’re doing what we can to control the costs that we can control. But we still have to make those investments we need to make in the system.

Patrick Kenny: Appreciate the color. Thanks, David.

Operator: Thank you. There are no further questions on the phone line at this time. Ms. Stephanie Amaimo, please continue for any closing remarks.

Stephanie Amaimo: Thank you, Laura. We have nothing further at this time. Thank you, everyone, for participating in our fourth quarter and annual 2022 results conference call. Please contact Investor Relations should you need anything further. Thank you for your time and have a great day.

Operator: Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.