FortisAlberta releases 1st Quarter earnings for 2005

CALGARY, April 28 /CNW/ - (TSX:FTS) - FortisAlberta today announced first
quarter earnings, which were slightly lower versus the same quarter last year.
"Earnings for the first quarter of 2005 were $7.8 million, compared to
$8.3 million for the same quarter last year. Philip Hughes, President and CEO
of FortisAlberta comments, "The lower earnings are primarily related to
increased maintenance costs for distribution lines, higher labour costs and
increased costs related to governance initiatives. These were partially offset
by lower financing costs in the quarter."
FortisAlberta filed for interim rates in 2005 at the same level as rates
for 2003 and 2004. Consistent with applicable legislation, these rates will
continue in effect until new rates are approved by the EUB. On April 13th,
FortisAlberta filed an application with the Alberta Energy and Utilities Board
to approve a Negotiated Settlement Agreement dealing with all aspects of the
Company's 2005 Distribution Tariff Application. If the settlement is approved,
it will result in a 2.1% rate increase to customers on base rates for 2005.
The impact of the settlement will be recorded in the period in which it is
approved by the EUB.

FortisAlberta is an electric distribution company serving approximately
407,000 customers. It is a wholly owned subsidiary of Fortis Inc., a
diversified, international electric utility holding company with assets
exceeding $3.8 billion and annual revenues of approximately $1.2 billion. The
Common Shares, Series C First Preference Shares, Series E First Preference
Shares of Fortis Inc. are traded on the Toronto Stock Exchange under the
symbols FTS, FTS.PR.C and FTS.PR.E, respectively. Fortis Inc. information can
be accessed at www.fortisinc.com.

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