On Wednesday, Fortis (NYSE:FTS) discussed first-quarter financial results during its earnings call. The full transcript is provided below.

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Summary

Fortis Inc reported Q1 2026 earnings per share of $0.99, supported by $1.4 billion capital investment, with notable progress on the UNS gas rate case.

The company is advancing major capital projects, including ITC's Big Cedar substation to support data center load growth and TEP's conversion of the Springerville Generating Station from coal to natural gas.

Fortis Inc continues to expect a 7% average annual rate base growth through 2030 and maintains a 4-6% annual dividend growth guidance.

ITC is pursuing further investments with MISO LRTP projects, and has filed a complaint with FERC against delays in competitive bidding processes.

The company emphasized its commitment to customer affordability, noting expected cost savings for TEP and ITC Midwest customers due to data center initiatives.

Full Transcript

OPERATOR

Thank you for standing by. This is Betsy, the conference operator. Welcome to The Fortis Inc First Quarter 2026 Results Conference Call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. After today's presentation there will be an opportunity to ask questions. To join the question queue, you may press Star, then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing Star, then zero. I would now like to turn the conference over to Stephanie Amaimo, Vice President, Investor Relations. Please go ahead Ms. Amaimo.

Stephanie Amaimo (Vice President, Investor Relations)

Thanks Betsy and good morning everyone. Welcome to Fortis first quarter 2026 results conference call. I'm joined by David Hutchins, President and CEO, Jocelyn Perry, Executive VP and CFO, other members of the senior management team as well as CEOs from certain subsidiaries. Before we begin today's call, I want to remind you that the discussion will include forward looking information which is subject to the cautionary statement contained in the supporting slide show. Actual results can differ materially from the forecast projections included in the forward looking information presented today. Non GAAP financial measures referenced in our prepared remarks are reconciled to the related US GAAP financial measures in our first quarter 2026 MD and A. Also, unless otherwise specified, all financial information references in Canadian dollars. With that, I will turn the call over to David.

David Hutchins (President and CEO)

Thank you and good morning everyone. Before getting into the results, I'd like to take a moment to acknowledge Gary Smith, Executive Vice President of Operations and Technology, Executive Vice President of Operations and Technology who is retiring at the end of this month. Gary has had an incredible 42 year career with Fortis, serving in leadership roles and boards across our utilities. He has been integral to Fortis growth and success and we're incredibly grateful for his many contributions. We truly wish Gary all the best in retirement. We are pleased with our start in 2026. Building on the momentum from last year. During the first quarter we delivered safe and reliable service while advancing our long term growth Strategy. We invested $1.4 billion of capital into our utility systems and reported earnings per share of $0.99. We also successfully concluded the UNS gas rate case, reaching a constructive regulatory outcome for our customers and stakeholders. With 25% of our capital plan invested in the first quarter, we remain well positioned to execute our $5.6 billion of planned investments in 2026. Major capital projects continue to progress. A significant milestone was achieved at the Big Cedar Industrial center where ITC completed the substation that will support 300 megawatts of load growth for the first data center transmission upgrade work for The Big Cedar load expansion project is also underway at this location to serve another 1600 megawatts of new data center load expected to be completed by 2028. At UNS, the ACC approved an amendment to the Springerville Generating Stations Certificate of Environmental Compatibility to allow the conversion from coal to natural gas generation. This approval advances TEP's plan to extend the operational life of the facility and supports long term customer affordability and system reliability. As we have discussed in the past, our utilities continue to prioritize capital investments focused on operational need and customer bill impacts. At itc. With a substantial data center load anticipated to come online in Iowa, ITC Midwest network transmission rates are expected to be reduced by approximately 20% by the end of the decade. At TEP, the coal to natural gas conversion at Springerville Generating Station will be approximately 10% of the capital cost of new gas generation. This is an economical solution benefiting our customers and the communities we serve. Also at TEP, the 300 megawatts of load growth for the data center associated with the approved Energy Supply Agreement is expected to save a typical residential customer approximately US$13 per month once at full production.

David Hutchins (President and CEO)

Thanks to this additional revenue, overall affordability continues to be an integral part of how we plan, invest and operate across our group of companies and to ensure cost effective service for our customers. Turning now to slide 7 with our 2026 and 5 year capital plans on track, we continue to expect average annual rate base growth of 7% through 2030. Above and beyond the plan, our teams continue to drive forward a strong slate of incremental growth opportunities.

David Hutchins (President and CEO)

First, at itc, the MISO LRTP portfolio of projects is advancing for tranche 2.1. ITC expects 3.3 to US$3.8 billion of investment beyond 2030 for projects that have been awarded and are not subject to competitive bidding. For projects that are subject to a competitive process, ITC is actively evaluating opportunities and preparing bids as appropriate as it relates to competitively bid projects. Itc alongside its Grid Acceleration Coalition partners, filed a joint complaint at FERC in April against the competitive bidding processes in MISO and sbp.

David Hutchins (President and CEO)

The complaint urges the Commission to either direct MISO and SPP to exempt transmission projects from the solicitation process when those projects facilitate new generation or large load interconnection or suspend the solicitation process entirely for the next five years. The complaint emphasizes the competition delays, much needed infrastructure development, slowing down AI implementation through regulatory red tape and increasing costs to customers. While complaints at FERC are not subject to a fixed timeline, the Coalition has asked the Commission to issue a ruling by July 16. Shifting now to load growth opportunities in Arizona in April. Key contractual contingencies tied to the Approved ESA for 300 megawatts and advanced at TEP with credit support now in place. As you may recall, this initial phase will leverage existing and plant capacity with a ramp up expected in 2027 and continuing through 2029.

David Hutchins (President and CEO)

Beyond the CSA, negotiations continue for an incremental 300 megawatts of capacity to support a potential buildout of 600 megawatts at this site. TEP is also in active negotiations for additional capacity at a second site and in the range of 500 to 700 megawatts. If agreements are finalized for these subsequent phases, we estimate new generation investment in the range of 1.5 to 2 billion US dollars would be required. Our track record of long term sustainable growth reflects the strength of our regulated businesses and supports our commitment to deliver 4 to 6% annual dividend growth through 2030.

David Hutchins (President and CEO)

Now I will turn the call over to Jocelyn for an update on our first quarter financial results.

Jocelyn Perry (Executive Vice President and CFO)

Thank you David and good morning everyone. For the quarter we reported net earnings of $501 million or $0.99 per common share as shown on the slide. We have identified the EPS drivers for the quarter by segment. Our Western Canadian utilities contributed a 4 cent increase in EPS largely driven by capital investments and timing of operating cost. At ITC, EPS increased by $0.02 largely due to continued capital investment and related rate base growth.

Jocelyn Perry (Executive Vice President and CFO)

For our US electric and gas utilities, EPS decreased by $0.02. Lower earnings at UNS Energy were driven by wholesale market conditions, timing of planned generation, maintenance costs, milder weather as well as regulatory lag for rate base. Not yet included in rates moderating. This was higher earnings at Central Hudson due to a shift in quarterly revenue, timing of operating expenses as well as rate base growth.

Jocelyn Perry (Executive Vice President and CFO)

The corporate and other segment reflects higher finance costs and unrealized losses on foreign exchange contracts. While not shown on the slide, earnings on our other electric segment were largely offset by the disposition of Fortis TCI in 2025. In total, the dispositions had a 2 cent dilutive impact on the first quarter results and we expect a 5 cent dilutive impact for the full year.

Jocelyn Perry (Executive Vice President and CFO)

Continuing on foreign exchange had a non favorable 3 cent impact for the quarter and higher weighted average shares issued under our dividend reinvestment plan impacted EPS by $0.01 on the financing activities. For the quarter, our utilities issued $800 million of long term debt. Additionally, in April ITC holdings issued US$900 million of unsecured notes with proceeds expected to repay maturing debt and short term borrowings.

Jocelyn Perry (Executive Vice President and CFO)

Our capital plan is expected to be funded largely from cash from operations, utility debt and our dividend reinvestment plan. Our $500 million ATM program has not been utilized to date and remains available for funding flexibility as required. On the rating agency front, Morningstar DBRS recently confirmed our a low issuer and unsecured debt credit ratings and stable outlook.

Jocelyn Perry (Executive Vice President and CFO)

Overall, our liquidity position and our funding plan support our strong investment grade credit ratings. Several regulatory filings advanced in Arizona during the quarter. In February, the ACC issued an order in the UNS GAS General Rate Application authorizing an allowed ROE of 9.61% and a 56% equity ratio. The order also approved a formula subject to a range of or -50 basis points around the allowed ROE and inclusive of post test year adjustments.

Jocelyn Perry (Executive Vice President and CFO)

The first rate adjustment under the formula is expected to occur in April 2027. New rates went into effect on March 1. With respect to TEP's general rate application, the ACC staff filed testimony during the quarter recommending a 9.75% ROE and a 55% equity ratio. Staff also filed rate design testimony recommending a formula rate framework that closely mirrors the recently approved approach for UNS gas.

Jocelyn Perry (Executive Vice President and CFO)

Hearings commenced last month and based on the procedural schedule, we continue to expect an order in the fall. That concludes my remarks. I'll now turn the call back to David.

David Hutchins (President and CEO)

Thank you, Jocelyn. To wrap up, we are off to a solid start in 2026 with first quarter results aligned with our expectations and our utilities are executing their capital plans focused on reliability and customer affordability. Looking ahead, we will continue to drive meaningful shareholder value through execution of our five year capital plan and delivery of our 4 to 6% annual dividend growth guidance through 2030. That concludes my remarks. I will now turn the call back over to Stephanie.

Stephanie Amaimo (Vice President, Investor Relations)

Thank you, David. This concludes the presentation. At this time we'd like to open the call to address questions from the investment community.

OPERATOR

Thank you. We will now begin the question and answer session. To join the question queue, you may press star then 1. On your telephone keypad you will hear a tone acknowledging your request. If you are using a speakerphone, please pick up your handset before pressing any keys. To withdraw your question, please press Star, then two. We will pause for a moment as callers join the queue. The first question today comes from Maurice Choi with RBC Capital Markets. Please go ahead.

Maurice Choi (Equity Analyst)

Thank you and good morning everyone. If I could just start in your prepared remarks, you mentioned that affordability has been an integral part of how you plan, invest and operate across your companies. And you've also shared how TEP and ITC Midwest customers will benefit from your data center initiatives. So with that, given the heightened NIMBYism, how would you characterize how the data center sentiment among your local stakeholders have evolved since the Q4 call?

David Hutchins (President and CEO)

Yeah, thanks, Maurice, and thanks for that question. It's obviously a big topic and if folks understand how you can do data center development correctly, if you make sure that you have the protections in place for the rest of the retail customers, then you definitely can have a positive impact from an affordability standpoint. It's just in essence, fairly straightforward math. When you add some assets that someone else is going to pay for and then you actually have some kilowatt hours that they use to spread the rest of the fixed costs among a larger pie, then it definitely does help. It is really hard. I'm not going to lie. It's hard to get frustrated folks to understand that messaging. But you have to prove it. And that's hopefully what we're going to be doing here as we go forward. As we add this contract that TEP has in place for that first data center, and with no additional resources needed to supply it, they're paying for the transmission interconnection. And so now it's really just the end result of them using a lot of kilowatt hours and paying for a lot of the system that the rest of the customers would have. So. So it's an ongoing conversation and ongoing information flow that we have to have out there. But if you are doing it right, you should be making that loud and clear. Understood.

Maurice Choi (Equity Analyst)

And if I could finish with a question on itc recognizing that the Grid Acceleration Coalition complaint was only filed a few weeks ago, I wonder if you had any early feedback from FERC about whether they're moved by your arguments and how you think this is all play out in the coming months towards your mid July deadline request.

Krista Tanner (CEO)

Yeah, let me turn that directly over to Krista Tanner, CEO of itc and she's the one who's been at the front of this. Krista, yes, Good morning and thank you for the question. So obviously we haven't talked to the FERC since we filed because that would be an ex parte communication. But we had several meetings beforehand and we continue to have meetings with other key stakeholders and I think it's fair to say that everyone understands that there's a problem here now, what they will do, whether they will take our options or come up with their own I think remains to be seen. But when you have data centers wanting to connect in 24 months or less, and that's precisely how long the competitive solicitation process takes, that's just an untenable situation. And we provided a lot of good data, data about we will not win the AI race in this country if we don't move faster. So I think those arguments are compelling. I think everyone understands them. So we are optimistic that something will be done. But obviously we'll have to wait to see the final order before we see what that solution is.

Maurice Choi (Equity Analyst)

Thanks, Krista. If I could have a quick follow up. Have you seen a counter complaint being filed with ferc?

Krista Tanner (CEO)

We haven't seen a counter complaint. The only thing that proponents of so called competition have submitted are studies that cherry pick, you know, a handful of projects that were competitive that came in, but nothing, I think, really compelling. Again, if you look at the data and the testimony that we filed with our complaint, I think it's really clear that so called competition has not lowered costs for customers. In fact, it's increased cost in some cases. And the cost associated with delay is far greater than any savings you might see. So really all that so called competition has accomplished is delay. And I mean there's just, you know, there's just no evidence to contradict that. Furthermore, we've had a real word situation where someone won a bid in Wisconsin and then three of those substations had to go to variance analysis because they couldn't be completed in time for a data center. So yes, of course there's, you know, there are other arguments out there. I would not characterize them as compelling and they have not filed anything.

Maurice Choi (Equity Analyst)

That's good to know and thanks for that and my congratulations to Gary on his retirement and all the best.

OPERATOR

The next question comes from Robert Hope with Scotiabank. Please go ahead.

Robert Hope (Equity Analyst)

Morning everyone. So it would seem like you've been making some regulatory and contractual progress at TEP regarding the initial 300 megawatts. You know, this would include the $40 million termination fee. Can you speak to what the next steps are for this project to get across the line and what milestones we should be watching?

Susan Gray (CEO)

Yeah, I'll turn that over to Susan Gray, CEO of UNS so that she only says the things that are public. Yeah, thanks, Dave. And thanks for the question, Rob. We just hit some really major milestones in terms of having that $40 million letter of credit established and payment for the construction agreement to build out the substation and the transmission interconnection. So the site has been prepared and they're starting to build at this point. So phase one is off and running. The next steps are really around expanding the capability at that first site up to possible 600 megawatts. So the first 300 is underway now looking at doubling that capacity. And then the second site that's in Marana just north of Tucson, we're also negotiating an agreement, a service agreement for that site. And so then it's about, you know, once we have all the terms established, we will have to build new generation to serve those additional agreements. And I think the terms of the, of the contracts will help us, help guide us in terms of what we need to build and when. So those are really the next steps. But really pleased to see that phase one is underway and moving forward.

Robert Hope (Equity Analyst)

I appreciate that. And then my follow up question relates to phase two. So when you're thinking about planning for incremental generation requirements to serve the next phase of load there, how are you incorporating increasing delivery timelines for electrical equipment such as generators? Could you potentially look to lock these up a little bit earlier if you are able to get line of sight to an agreement or we'll call it backstopping from the counterparty?

Susan Gray (CEO)

Yeah, I think we would really need to have certainty from the customer that they're going to move forward and have those customer protections in place in order to. And I think that's incentive to get the agreements locked up here so that we can start moving forward with procurement and potentially partnering with a builder to start actually getting those sites going.

Robert Hope (Equity Analyst)

All right, thank you. And Gary, all the best.

David Hutchins (President and CEO)

Thanks all.

OPERATOR

The next question comes from Mark Jarvi with cibc. Please go ahead.

Mark Jarvi (Equity Analyst)

Yeah, good morning everyone. Last quarter you guys said that you thought maybe FERC would start to tidy up some loose ends. We saw the decision on transmission operators in New England. Are you expecting more to come? Is there any expectations that they'll address the adders this year?

David Hutchins (President and CEO)

Yeah, thanks, Mark. We haven't seen any indication. We're hopeful that that stale docket finally kind of gets pushed aside. And you know, if they do want to address incentive adders that they do it in, you know, the fulsome approach that they started at way back when in 2020, which was looking at all the different incentive adders that you could add based on and not just the RTO adder that was in a bucket of several adders, including additions for using new technology, reducing costs, increasing reliability. So if they do set that aside and want to address it, we hope that they would start with a fresh view of those incentives and what's needed on a going forward basis.

Mark Jarvi (Equity Analyst)

And then in the last week there's been some media reports about a potential executive order around some things like dynamic line rating, reconductoring for transmission from the White House. Is that something you guys feel like will come through and what could that mean for ITC if anything?

Krista Tanner (CEO)

Can't say. That's the first I heard of that. So Chris, is this something that you've heard? So, you know, obviously the things like dynamic line rating and other conductor reconductoring for higher capacity is something that we always look at from an affordability perspective, but had no idea there was an executive order chatter on it. Krista? Yeah, I think there was just something that came out yesterday, Dave. So you're now behind and yeah, there's always discussion about the proper use and are we using dynamic line ratings and other technology enough? I think, you know, for ITC we use it, we have used it when appropriate and when we don't, when it's not appropriate, we don't. So I think we're hopeful through the conversations we've had that it wouldn't be an across the board mandate or to use it when it doesn't make sense. I think if there is an executive order issued that it would just be for FERC to look at it and consider it, which frankly they do and utilities do anyway. So I don't see this as significantly moving the needle rather than just advancing the conversation that's already happening.

Mark Jarvi (Equity Analyst)

Understood. And just last question for me. Just some other media reports about, you know, just BC lng, you know, wood fiber expansion. Can you remind us again where the pipe is sized right now if there's the potential to do incremental investments there in bc?

Roger

Roger, you want to take that one? Yeah. Thanks, Dave. Maureen, there is opportunity to expand pipe. It would require a debottlenecking further upstream from the current expansion of our pipeline. We haven't entered into discussions yet with wood fiber, but it's something that we will be looking at, I'm sure in the near future here. Okay, thanks Sean. Thanks, Marcus.

OPERATOR

The next question comes from Benjamin Pham with vmo. Please go ahead.

Benjamin Pham (Equity Analyst)

Good morning. I want to stay at bc. You mentioned the environmental assessment update on the Tilbury storage site. Was that in response to the Middle east situation that's occurring? Maybe just add incremental context on future expansion events that potentially could be accelerated?

David Hutchins (President and CEO)

Yeah. So far everything that we have been doing has been based on projects that we've had in the queue for quite a while. So nothing that's incremental or increased due to the Middle East. Obviously there's a lot of attention on lng. It's having quite the moment now. And that's probably the genesis of that prior question on looking at whether or not you can increase capacity at wood fiber for additional LNG. But that EA was just the EA. There's a couple different EAs going on. One is related to the Tilbury tank, the larger size one that we got approved last year. And the other is for any ultimate additional LNG liquefaction capacity that we can put at the Tilbury site, which is, we refer to AS Tilbury2 in that EA process. So nothing that's directly, I'll say impacted or pushed by the current situation.

Benjamin Pham (Equity Analyst)

Okay, got it. And maybe switch to the stats that you or your expectation, the customer impact from the data center volume and integration and particularly the pronounced impact you're seeing in the US Midwest throughout a decade. Is that something you think is more a pit bull to Fortis, especially Megatude, or is that, do you think that's more of a broader industry trend that you're anticipating? And just related. Is there any expectation that this is more allowing more room for rate based acceleration?

David Hutchins (President and CEO)

Yeah, it is a broader sector. I'll say it's broader depending on how you're doing it. If you're making sure that the data centers are paying for the incremental or marginal generation that's being installed and I'll say infrastructure in general that's being installed to supply them, and you're recovering that from that data center with all of course, the appropriate credit enhancements, et cetera. And then you are also getting a bit of contribution back to paying for the rest of the infrastructure that's needed to support that. You don't just plop it on the grid and not need to have the ancillary services and all the rest of the support that you get from the overall grid, then it will have a positive impact for customers. Obviously ITC is the transmission rate. You're putting a ton of kwh on that system and you're basically doing a few interconnections to get there. So it's got some really good economics as that percentage decrease reflects. And then in Arizona, same thing. If you're not building even on the next phases, we would make sure that whatever those next phases are, that those data centers are paying for that marginal cost of energy and then some, so that there is a positive customer contribution. So it is. If you're Doing it right, especially if you're in a region where you're controlling those portions of the cost, whether it's ITC as a transmission only company or a vertically integrated utility, we have the ability to see quite clearly how that will benefit customers.

Benjamin Pham (Equity Analyst)

And do you think this is maybe a KW to rate base conversion similar to that recent historical trend of OPEX rate base?

David Hutchins (President and CEO)

Yeah. So there's. Yeah, it's all going. You always have to look at things on a bill basis on what our customers pay. So it does. Anything that puts downward pressure on bills is a good thing. And that's really what we're focused on. Not necessarily saying, well, downward pressures allow for additional incremental investments. We're only making the investments that we need to to provide value to our customers. So the more offsets we have for those needed investments that don't necessarily pay for themselves. We have a lot of, you know, capex for OPEX kinds of conversations, steel for fuel, whatever you want to call it, where you are replacing some of the operating costs with capital and still maintaining or even decreasing customers bills in that sense. But there are things around resiliency and other investments that we have to make that would normally just increase costs. So it is good to have this other side of the ledger helping to keep customers rates balanced.

Benjamin Pham (Equity Analyst)

Okay, understood. Thank you. Very useful. Yep. Thanks Ben.

OPERATOR

Once again, if you have a question, please press star then one to join the question queue. The next question comes from John Mold with TD Cowan. Please go ahead.

John Mold (Equity Analyst)

Hi, good morning everybody. Maybe just starting with the Tucson electric rate case and you know, appreciating it's a live rate case. Just wondering if you could provide some initial thoughts on how the parameters in the rate ask have been received in any points of debate so far that may have varied versus what you saw in the UNS gas rate case process that concluded in February. And I'm thinking both about the formulaic rate ask and just also the broader points of the rate case.

David Hutchins (President and CEO)

Yeah John, it is obviously an ongoing rate case. The testimony started a couple of weeks ago and meaning the in person testimony, of course most of this is actually done, you know, trading paper testimony which frankly hasn't. We haven't seen anything come up in the hearings that would surprise us from a perspective of not already seen or hearing the conversation or arguments in the written testimony. So we were really pleased with the UNS gas outcome. We were the first utility in Arizona the UNS gas was to get that formula rate. We see that we're basically having those same types of conversations in the TP rate case. So I think it bodes well from that perspective. But it's still, you know, in the middle of the process, so we'll kind of couch it at that.

John Mold (Equity Analyst)

Okay. No, that's fair. Thanks for that. And then maybe just stepping back, you know, on the broader opportunities above and beyond the existing capital plan, be curious to know just which are you the most optimistic about in terms of summing turning some of those more aspirational opportunities into firm secured investment and whether it's some of the near term opportunities or items that extend beyond your current capital planning horizon right now.

David Hutchins (President and CEO)

Yeah, we've got a really good slide in our deck that kind of breaks this conversation up into the two different time frames. One is what's possible in the kind of in the current five year capital plan and then what's possible post five year capital plan. And you know, obviously we're, we're generally like most folks focused on getting those near term opportunities while still working to get those longer term opportunities that fill in the growth opportunities later on. But we have a lot of that just in things that are already happening like the rest of the, you know, tranche one, tranche 2.1 and wherever MTEP 26 goes, there's a lot of transmission opportunities that are longer term. The really the short term ones are, you know, some additional data center connections that could happen in manufacture just in general interconnections, generation and load in ITC's footprint. And then of course the data center developments that we have in Arizona, those can be, well, they'd love them to be even shorter term, at least from a data center perspective and as quick as possible. But you know, timing and availability of equipment, et cetera, can, can delay that a little bit. So we are looking at those opportunities and we still have, we still have a huge additional one that we really aren't talking about yet because we're in the process of developing the integrated resource plans in Arizona. But that's going to spit out some longer term investment opportunities for us as well. So very target rich environment as it were.

John Mold (Equity Analyst)

Okay, I'll leave it there. Thanks for taking my questions.

David Hutchins (President and CEO)

Thanks, Sean.

OPERATOR

The next question comes from Patrick Kenney with National Bank. Please go ahead.

Patrick Kenney (Equity Analyst)

Good morning. Just a quick question on Fortis, Alberta with I guess the number of proponents here looking for data center projects. And I know I've seen Fortis, Alberta partner up with just a couple projects. Just wondering if you could walk us through some of those partnerships and help us distill the overall upside potential if and when the phase two allocation does take off in the province. Yeah, thanks, Patrick. I'm going to kick that over to Jeanine Sullivan, CEO of Fortis, Alberta.

Jeanine Sullivan (CEO)

Good morning, Patrick, and thanks for the question. There certainly is a lot of data center activity, certainly a lot of discussion first happening in the province. And with the ISO having introduced its 1200 megawatt cap, it certainly is leading to discussions at the distribution level as to how we can interconnect some of the smaller loads that they want more imminently interconnected. So lots of conversations going on between ourselves, the transmission facility owner and operator, and the ISO right now as to how we can facilitate the more autonomous interconnection of some of this data center opportunity for the province sooner than later.

Patrick Kenney (Equity Analyst)

Okay, that's great. Thank you.

OPERATOR

This concludes our question and answer session. I would like to turn the call back over to Ms. Amaimo for any closing remarks.

Stephanie Amaimo (Vice President, Investor Relations)

Thank you, Betsy. We have nothing further at this time. Thank you everyone for participating in our first quarter conference call. Please contact Investor Relations should you need anything further. And have a great day.

Disclaimer: This transcript is provided for informational purposes only. While we strive for accuracy, there may be errors or omissions in this automated transcription. For official company statements and financial information, please refer to the company's SEC filings and official press releases. Corporate participants' and analysts' statements reflect their views as of the date of this call and are subject to change without notice.