Fortis – BC moving to ban natural gas

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BC has been moving to reduce its use of natural gas to try to achieve zero carbon for 2030. Just Google Fortis, BC ban etc for more info.
I’m curious about your perception of whether this will become a growing movement in Canada (it’s already a battleground in BC) and thus, whether Fortis should still be a foundational stock or whether it needs to be watched much more closely.
Thanks!

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Asked on November 17, 2023 3:26 pm
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Hi there,
I think you always need to pay attention to political stances. However, it is more of a situation where one needs to be aware and not necessarily take action. Countless times over the years, stances have changed depending on who is in power and while some municipalities in BC are forging ahead, others aren't. So it really is a wait and see approach.

On a more personal note, in ONtario, decades ago electric was all the range, then it got ridiculously expensive and natural gas became the rage. WHen natural gas prices rose, people shifted back to electric...i really find home heating has been cyclical and very dependent on what is happening on a macro level.
Obviously if it starts to have a financial impact on companies, then it may be worth taking action. For now however, we are still too early to see what impacts (if any) will occur. Some still aren't even off coal yet - so transitions can take decades.

Mat

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Posted by Mathieu Litalien
Answered on November 20, 2023 8:35 am