09:56 AM EST - Fortis Inc. : Announced that the Arizona Corporation Commission has approved new rates in Tucson Electric Power's general rate application effective January 1, 2021. The ACC approved rate base of $2.7 billion U.S, including approximately $1.2 billion U.S. invested since the last rate order. The ACC also approved an allowed return on equity of 9.15% and equity capital structure of 53% compared to an allowed return on equity and equity capital structure previously of 9.75% and 50%, respectively. The decision includes a 0.20% return on the fair value increment. Fortis Inc.
shares T.FTS are trading up $0.20 at $52.38.
