City Council raises Fortis Franchise Fee to 20% for 2027
What happened
City Council approved a 3% increase to the Fortis Franchise Fee, setting the rate at 20% for 2027. This decision went against Administration's recommendation to maintain the 17% rate. The increase is projected to generate an estimated revenue of $2,071,620, up from the current estimated revenue of $1,760,877.
From leducrep.com
Why it matters
The fee increase is intended to generate $300,000 to be shared among community institutions, such as schools and hospitals, helping to offset property tax increases. City Council regulates Fortis by approving these franchise fee increases.
From leducrep.com
Who's involved
- city councilLegislative body that governs the city and regulates utility fees.
- FortisUtility company whose franchise fee was increased by the city council.
- ATCOUtility company whose franchise fee was maintained by the city council.
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The entities involved
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city council
legislative body that governs a city, municipality or local government area
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Fortis
finance company
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ATCO
large Canadian holding company with nearly 7,000 employees; subsidiaries are diverse but most are in either the gas/electricity or construction industries