TMX group

CALGARY, Oct. 27 /CNW/ - (TSX:FTS) - FortisAlberta announced today 2005
third quarter earnings of $9.3 million compared to 2004 third quarter earnings
of $8.3 million.
The higher earnings in 2005 are primarily related to the finalization of
load settlement amounts related to prior periods and the receipt of insurance
proceeds that offset a portion of the settlement on EPCOR Energy Services
litigation. This was partially offset by higher interest and depreciation
costs.
"Our earnings will enable us to continue focusing on improvements in
customer service and enables us to support future growth through capital
expenditures to ensure the long-term reliability of Alberta's electric
system," says Philip Hughes, FortisAlberta's President and CEO.
Total revenue for the quarter was $66.8 million compared to $57.6 million
for the same period in 2004. The increase in revenue of $9.2 million is
primarily due to insurance proceeds related to the EPCOR settlement,
finalization of load settlement amounts related to prior periods and an
increase in energy deliveries to residential and commercial customers. Energy
consumption and customer count have increased in 2005 as a result of higher
commodity prices and a strong provincial economy.

FortisAlberta is an electric distribution company with approximately
412,000 customers and more than 103,000 kilometres of power lines. It is a
wholly owned subsidiary of Fortis Inc. - a diversified, international electric
utility holding company with assets of $4.1 billion and annual revenues of
approximately $1.2 billion. The Common Shares, Series C First Preference
Shares and Series E First Preference Shares 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.

FortisAlberta may include forward-looking statements in this release. By
their very nature, forward-looking statements are based on underlying
assumptions and are subject to inherent risks and uncertainties surrounding
future expectations generally. Such events include, but are not limited to,
general economic, market and business conditions, regulatory developments,
weather and competition. FortisAlberta cautions readers that should certain
events or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary significantly from those expected. For
additional information with respect to certain of these risks or factors,
reference should be made to FortisAlberta's continuous disclosure materials
filed from time to time with Canadian Securities Regulatory Authorities.
FortisAlberta disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.


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