Latest news with #CentralHudson
Toronto Star
07-05-2025
- Business
- Toronto Star
Electric and gas utility Fortis reports Q1 profit and revenue up from year ago
ST. JOHN'S - Fortis Inc. reported its first-quarter profit and revenue rose compared with a year ago. The electric and gas utility says it earned a profit attributable to common equity holders of $499 million or $1.0 per share for the quarter ended March 31. The result was up from a profit of $459 million or 93 cents per diluted share in the same quarter last year. ARTICLE CONTINUES BELOW Fortis says the increase was driven by rate base growth across its utilities and the end of Central Hudson's 2024 general rate application including a shift in quarterly revenue effective July 1, 2024. It says higher U.S. dollar-to-Canadian dollar exchange rate also helped boost results. Revenue for the quarter totalled $3.34 billion, up from $3.12 billion a year earlier. This report by The Canadian Press was first published May 7, 2025. Companies in this story: (TSX:FTS)
Hamilton Spectator
07-05-2025
- Business
- Hamilton Spectator
Electric and gas utility Fortis reports Q1 profit and revenue up from year ago
ST. JOHN'S - Fortis Inc. reported its first-quarter profit and revenue rose compared with a year ago. The electric and gas utility says it earned a profit attributable to common equity holders of $499 million or $1.0 per share for the quarter ended March 31. The result was up from a profit of $459 million or 93 cents per diluted share in the same quarter last year. Fortis says the increase was driven by rate base growth across its utilities and the end of Central Hudson's 2024 general rate application including a shift in quarterly revenue effective July 1, 2024. It says higher U.S. dollar-to-Canadian dollar exchange rate also helped boost results. Revenue for the quarter totalled $3.34 billion, up from $3.12 billion a year earlier. This report by The Canadian Press was first published May 7, 2025. Companies in this story: (TSX:FTS)
Boston Globe
13-02-2025
- Business
- Boston Globe
Could public power work as an alternative for R.I. by offering cheaper, more reliable energy?
We've seen this work elsewhere, too. In Hudson Valley, N.Y., where communities are exploring a public takeover of their failing utility, Central Hudson, residents are fed up with skyrocketing rates and terrible service. An independent study found that public power could cut costs by up to 37 percent while providing better reliability and faster response times. Instead of paying massive executive salaries and shareholder dividends, public utilities reinvest in infrastructure and customer service. Let's be honest: This won't be cheap. Creating a public utility takes significant upfront investment. But Rhode Island already has a clear example of how effective publicly owned utilities can be. The By reinvesting its revenues back into the local system, rather than distributing profits to out-of-state shareholders, Clear River has managed to keep costs down and provide more reliable service. This is proof that public power works, right here in Rhode Island. If public power can provide cheaper and more reliable energy in Burrillville, it can work for the rest of the state too. It's time for Rhode Islanders to have the same opportunity to benefit from this model. Advertisement Democrats across the country lost elections because people are tired of weak, incremental change. They want bold, real solutions that put them first — not utility companies, not shareholders, but them. Public power is one of those solutions. Rhode Islanders deserve the same choices as communities across the country. Democratic state Representative Megan L. Cotter represents District 39 in Exeter, Richmond, and Hopkinton.
