Tucson Electric Power Company (TEP) Rate Case Progresses; Reaches Settlement Agreement on Revenue Requirement
Exhibit 99.1
FOR IMMEDIATE RELEASE:
St. John’s, NL (August 16, 2016):
Tucson Electric Power Company (TEP) Rate Case Progresses;
Reaches Settlement Agreement on Revenue Requirement
Tucson Electric Power Company (“TEP”), a subsidiary of Fortis Inc. (“Fortis” or the “Corporation”) (TSX:FTS), today reached a settlement agreement with several parties regarding TEP’s revenue requirement in its rate case proceeding pending before the Arizona Corporation Commission (“ACC”). The agreement is available on the ACC’s website at xxx.xxxx.xxx. TEP also filed Form 8K with the United States Securities and Exchange Commission respecting the settlement agreement; a copy can be found at xxx.xxx.xxx or at xxx.xxx.xxx.
An ACC Administrative Law Judge will issue a recommended opinion and order following the conclusion of planned hearings. That recommendation is then subject to review and approval by the ACC before new rates can become effective.
About Fortis
Fortis is a leader in the North American electric and gas utility business, with total assets of approximately CAD$29 billion and fiscal 2015 revenue of CAD$6.7 billion. The Corporation’s asset mix is approximately 94% regulated (69% electric, 25% gas), with the remaining 6% comprised of non-regulated energy infrastructure. The Corporation’s regulated utilities serve more than 3 million customers across Canada, the United States and the Caribbean.
Fortis shares are listed on the TSX and trade under the symbol FTS. Additional information can be accessed at xxx.xxxxxxxxx.xxx, xxx.xxxxx.xxx, or xxx.xxx.xxx.
About Tucson Electric
Tucson Electric provides safe, reliable electric service to approximately 417,000 customers in Southern Arizona. For more information, visit xxx.xxx. TEP and its parent company, UNS Energy, are subsidiaries of Fortis Inc. To learn more, visit xxxxxxxxx.xxx.
Investor Enquiries:
Ms. Xxxxx Xxxxx
Vice President, Investor Relations
709.737.2863
Media Enquiries:
Ms. Xxxxx XxXxxxxx
Director, Communications and Corporate Affairs
709.737.5323
