Looking back at 2020
Here is a look back at our 2020 performance, showing the amount of energy we delivered to our growing customer base along with how our business performed financially.
Performance
|
FortisBC Energy Inc. Natural gas and piped propane |
2019 | 2020 |
|---|---|---|
|
Peak day demand (TJ) |
1,352 |
1,555 |
|
Gas volumes (PJ) |
227 |
219 |
|
FortisBC Inc. Electricity |
2019 | 2020 |
|---|---|---|
|
Generating capacity (MW) |
225 |
225 |
|
Peak demand each year (MW) |
696 |
740 |
|
Energy |
||
|
Regulated (GWh) |
3,326 |
3,291 |
|
Net load growth (regulated) |
2.34% |
-1.05% |
Financial performance (in millions of dollars)
|
FortisBC Energy Inc. Natural gas and piped propane |
20193 | 2020 |
|---|---|---|
|
Net earnings |
$183 |
$189 |
|
Total revenue |
$1,330 |
$1,385 |
|
Operating expenses |
$333 |
$340 |
|
Capital expenditures |
$4634 |
$464 |
|
FortisBC Inc. Electricity |
20193 | 2020 |
|---|---|---|
|
Net earnings |
$50 |
$53 |
|
Revenue |
$404 |
$412 |
|
Operating expenses |
$98 |
$108 |
|
Capital expenditures |
$1064 |
$96 |
1 Includes piped propane customers.
2 Includes direct and indirect customers (customers who are served by utilities to which FortisBC provides wholesale energy or distribution service).
3 Certain comparative figures have been classified to conform to the current year’s presentation.
4 Capital expenditures before contributions in aid of construction and including cost of removal.
Forward-looking information
Certain statements contained in this report contain forward-looking information within the meaning of applicable securities laws in Canada (“forward-looking information”). The purpose of the forward-looking information is to provide management's expectations regarding results of operations, performance, business prospects and opportunities, and it may not be appropriate for other purposes. All forward looking information is given pursuant to the safe harbour provisions of applicable Canadian securities legislation.
The forward-looking information in this report includes, but is not limited to, FortisBC’s vision that efficiency and conservation will lead to lowered energy requirements and emissions, FortisBC’s plans to reduce greenhouse gas emissions, FortisBC’s plans to offer more conservation and efficiency incentives in the future; innovations and investments in biogas supply, carbon capture technology, low carbon vehicles and hydrogen blending into the natural gas system; the development of new markets, FortisBC’s relationship with Indigenous peoples; the diversity of FortisBC’s workforce and FortisBC’s safety practices.
The forward-looking information reflects management's current beliefs and is based on assumptions developed using information currently available to the FortisBC’s management. Although FortisBC believes that the forward-looking statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties. For additional information on risk factors that have the potential to affect FortisBC, reference should be made to FortisBC’s continuous disclosure materials filed from time to time with Canadian securities regulatory authorities and to the heading "Business Risk Management" in the FortisBC’s annual and quarterly Management Discussion and Analysis. Except as required by law, FortisBC undertakes no obligation to revise or update any forward looking information as a result of new information, future events or otherwise after the date hereof.
All forward-looking information in this report and the information incorporated in this report by reference is qualified in its entirety by this cautionary statement.
I acknowledge that I have been presented with a Forward Looking Statement associated with the 2020 Corporate and Sustainability Report.