March 06, 2015 9:53 AM ET

Electric Utilities

Company Overview of FortisBC Inc.

Company Overview

FortisBC Inc., an integrated, regulated electric utility, is engaged in the generation, transmission, and distribution of electricity in the southern interior of British Columbia. It operates 4 regulated hydroelectric generating plants on the Kootenay River with an aggregate capacity of 223 megawatts (MW); and an unregulated 16 MW run-of-river hydroelectric generating plant near Lillooet, British Columbia. The company also holds approximately 7,150 kilometers of transmission and distribution power lines; and 65 substations. As of December 31, 2013, it served approximately 163,800 residential, commercial, wholesale, and industrial consumers. The company was formerly known as Aquila Networks C...

1975 Springfield Road

Suite 100

Kelowna, BC V1Y 7V7

Canada

Founded in 1897

Key Executives for FortisBC Inc.

Chief Executive Officer and President
Chief Financial Officer and Vice-President of Finance
Executive Vice President of Operations & Engineering
Chairman, Member of Governance Committee and Chief Executive Officer Fortis Inc
Age: 64
Vice President of Operations Support, General Counsel and Corporate Secretary
Compensation as of Fiscal Year 2014.

FortisBC Inc. Key Developments

FortisBC Finalizes LNG Supply Agreement with BC Ferries to Fuel New Vessels

FortisBC announced that it will provide up to 300,000 gigajoules of liquefied natural gas (LNG) per year, the energy equivalent of 7.8 million litres of diesel fuel, for the next 10 years to help fuel BC Ferries' three new intermediate class ferries. The LNG will be supplied from FortisBC's Tilbury facility located in Delta, which recently broke ground on a $400-million expansion and the Mt. Hayes facility, located on Vancouver Island. The Tilbury expansion will add 1.1 million gigajoules of LNG storage and approximately 34,000 gigajoules of liquefaction capacity per day. The existing Tilbury LNG facility has been operating safely since 1971, and the Mt. Hayes facility has been in operation since 2011. The ships will be fuelled in the traditional manner that BC Ferries takes on diesel fuel with trucks making deliveries to the vessels during non-operational periods. The use of LNG by BC Ferries will result in the reduction of an estimated 9,000 metric tonnes of carbon dioxide equivalent per year, the same as taking 1,900 passenger vehicles off the road annually, because natural gas is cleaner burning than traditional marine diesel fuel.

GP Strategies Corporation Completes Liquefied Natural Gas Trailer Loading Facility for FortisBC

GP Strategies Corporation recently completed the fabrication and construction of a new multimillion-dollar liquefied natural gas (LNG) trailer loading facility at the Mt. Hayes plant owned by FortisBC in Ladysmith, British Columbia. The Mt. Hayes LNG plant is designed to load LNG trailers at 1,100 to 1,500 liters [approximately 264 to 396 gallons] per minute and increases LNG distribution to the province of British Columbia.

FortisBC Starts Construction of Tilbury LNG Facility Expansion Project

FortisBC has started construction of its CAD 400 million Tilbury LNG facility expansion project in Delta, British Columbia. The company is adding 1.1 million gigajoules of liquefied natural gas (LNG) to storage and 34,000 gigajoules per day of liquefaction capacity. FortisBC Energy Inc. operates the only two LNG facilities in Western Canada. The existing Tilbury LNG Facility opened in 1971 and has safely operated in Delta, B.C. for the last 43 years. The expanded liquefaction plant will be powered by electric drives and the facility will be air-cooled eliminating the need for cooling water. The expansion allows FortisBC to meet the growing demand for natural gas for transportation, as an energy solution for remote communities and for the marketplace. Heavy-duty customers Vedder Transport Ltd., Arrow Transportation Systems Inc. and Denwill Enterprises Inc. acquire LNG from the existing Tilbury LNG facility. Inuvik in the Northwest Territories is offsetting its diesel-fuel utility operations using LNG transported from Tilbury. Residents of Revelstoke could also soon enjoy more stable energy bills and cleaner burning fuel, pending the results of FortisBC's evaluation followed by a BC Utilities Commission application to convert the community to natural gas from piped propane. FortisBC's parent company Fortis Inc. has long seen the potential in British Columbia and has approximately $8 billion invested in B.C. energy infrastructure which directly benefits B.C. taxpayers. In 2014 alone, Fortis Inc. will invest another $600 million in B.C. Additional volumes of natural gas moving through FortisBC's pipeline system as a result of this increased LNG demand will result in better year-round utilization of FortisBC's infrastructure and help keep natural gas delivery rates stable for all customers, added Walker. Construction will begin immediately. FortisBC anticipates that LNG from the expanded facility will supply transportation customers by the fourth quarter of 2016.

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