NiSource Inc

nisource.com

NiSource Inc (NYSE: NI) is a regulated utility company that distributes natural gas and generates and distributes electric power to customers across multiple U.S. states. It earns revenue through rate-regulated tariffs set by state utility commissions, charging residential, commercial, and industrial customers for gas distribution and electric service. Its natural gas distribution subsidiaries operate under the Columbia Gas brand in Kentucky, Maryland, Ohio, Pennsylvania, and Virginia, while its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in Indiana. The company also holds interests in renewable generation assets including wind and solar facilities in Indiana, such as Rosewater Wind Generation, Indiana Crossroads Solar, Indiana Crossroads Wind, Dunn's Bridge I Solar, Gibson Solar, and Fairbanks Solar Energy Center. NiSource has a contract with Amazon Data Services (ADS) for NIPSCO to supply electricity to data center operations. The business is capital-intensive, funded through a combination of rate base investment and debt, with returns governed by regulatory proceedings in each state jurisdiction.