About Nisource Inc.

NiSource is the main energy source for resourceful Americans living in the Midwest, the South, and New England. The company's six utility subsidiaries distribute natural gas to about 2.6 million customers in six states along 59,000 miles of pipeline. NiSource also generates, transmits, and distributes power to some 466,000 customers in 20 counties in its home state through its largest subsidiary, Northern Indiana Public Service Company (NIPSCO). Its three coal-fired power stations and auxiliary stations pump out 3,281 mw power.

Operations

The energy holding company operates in two major business areas: gas distribution and electric generation, transmission, and distribution. Gas sales account for more than 60% of total sales; electric sales accounts the remainder.

The Gas Distribution Operations segment, the largest, provides natural gas service and transportation for residential, commercial and industrial customers.

The Electric Operations segment provides electric service in 20 counties in the northern part of Indiana.

Geographic Reach

Through subsidiary Columbia Energy, NiSource owns and operates six distribution subsidiaries that provide natural gas to 2.6 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. NiSource also distributes natural gas in Indiana through NIPSCO. Columbia Gas of Massachusetts distributes natural gas to end users in Massachusetts.

Sales and Marketing

The company's utility subsidiaries distribute natural gas to about 3.9 million customers in seven states within a corridor that runs from the US Gulf Coast through the Midwest to New England.

The company distribute natural gas to approximately 820,000 customers in northern Indiana through NIPSCO.

NiSource generates, transmits and distributes electricity through its NIPSCO to 466,000 customers in 20 counties in the northern part of Indiana and engages in wholesale and transmission transactions.

Financial Performance

In fiscal 2016 sales fell 4% to $4.5 billion amid declines in gas distribution and transportation, offset by an increase in electric.

Net income increased 66% to $328.1 million, mostly due to a $97.2 million loss on extinguishment of debt in 2015. Higher net revenue from regulatory and service programs and better returns from capital spend also had a positive effect.

Cash from operations fell 31% to $804.1 million due to warmer weather and lower gas prices, as well as the related approved rates for recovery, which took a toll on regulatory assets and liabilities.

Strategy

NiSource believes that its long-term success lies in developing a portfolio that balances creating more efficiencies in its regulated utility operations while expanding its higher-growth gas transmission and storage businesses.

In 2015 NiSource spun off its pipelines into a separately traded public company. The new company, Columbia Pipeline Group, included 15,000 miles of natural gas pipeline and 300 billion cu. ft. of storage, plus other midstream assets in the Marcellus and Utica shales.

NiSource will focus its business strategy on its core, rate-regulated asset-based businesses with most of its operating income generated from the rate-regulated businesses. NiSource's utilities continue to move forward on core infrastructure and environmental investment programs supported by regulatory and customer initiatives across all seven states in which it operates. In 2017 it upped its capital expenditure to $1.7 billion from $1.5 billion in 2016, increasing investment in system growth and tracker opportunities in its gas distribution and electric operations.

Progress also continued on two major electric transmission projects designed to enhance region-wide system flexibility and reliability. Right-of-way acquisition, permitting and substation construction are under way for both projects. Line and tower construction began in 2016. These projects involve an investment of $450 million for NIPSCO and are anticipated to be in service by the end of 2018.

- Show Less + Show Full Description

Company News and Press Releases

- Show Less + Show More News and Press Releases

Nisource Inc.

801 E 86th Ave
Merrillville, IN 46410-6272
Phone: 1 (877) 647-5990

Stats

  • Employer Type: Public
  • Stock Symbol: NI
  • Stock Exchange: NYSE
  • President and CEO: Joseph Hamrock
  • President and CEO: Joseph Hamrock
  • Chairman: Richard L. Thompson
  • 2016 Employees: 8,007

Major Office Locations

  • Merrillville, IN

Other Locations

  • Angola, IN
  • Chesterton, IN
  • Crown Point, IN
  • Gary, IN
  • Hammond, IN
  • Kokomo, IN
  • La Porte, IN
  • Michigan City, IN
  • Monticello, IN
  • Peru, IN
  • Plymouth, IN
  • Portage, IN
  • Rolling Prairie, IN
  • Royal Center, IN
  • South Bend, IN
  • Valparaiso, IN
  • West Terre Haute, IN
  • Wheatfield, IN
  • Prestonsburg, KY
  • Brockton, MA
  • Buzzards Bay, MA
  • Lawrence, MA
  • Ludlow, MA
  • South Easton, MA
  • Springfield, MA
  • Hagerstown, MD
  • Corning, NY
  • Long Eddy, NY
  • Bucyrus, OH
  • Cambridge, OH
  • Cleveland, OH
  • Columbus, OH
  • Findlay, OH
  • Fremont, OH
  • New Middletown, OH
  • Salem, OH
  • Steubenville, OH
  • Toledo, OH
  • Charleroi, PA
  • Emlenton, PA
  • Monaca, PA
  • New Bethlehem, PA
  • New Castle, PA
  • Smithfield, PA
  • Uniontown, PA
  • Warren, PA
  • Washington, PA
  • York, PA
  • Hartsville, TN
  • College Station, TX
  • Broadway, VA
  • Fredericksburg, VA
  • Petersburg, VA
  • South Hill, VA
  • Suffolk, VA
  • Warrenton, VA
  • Charleston, WV
- Show Less + Show More