About the Company
One of the largest completely regulated utility organisations in America, NiSource Inc. manages rate-regulated gas and electric utility companies in more than 12 US states. The company functions primarily in the Mid-Atlantic and Northeast regions. The company was originally known to all as NIPSCO Industries Inc. and later changed its name to NiSource Inc. in 1999. It serves around 3.5 million consumers and operates a natural gas pipeline of 60,000 miles. NiSource offers electricity to 470,000 customers with its power plants. This company’s power plants generate more than 2,850W of electricity per year. The subsidiaries of this company include NIPSCO, and NiSource Gas Distribution Group.
The company has two business segments; these include Electric Operations and Gas Distribution Operations. 65% of the company sales are generated from gas distribution which is NiSource’s primary business. This business involves 60,000 miles of pipeline, across 7 states. 35% of the company sales come from the electric operations segment, which is solely managed by NIPSCO. The company generates electricity via coal-fired, hydroelectric and gas-fired plants. NiSource Gas Distribution Group owns six distribution subsidiaries while NIPSCO owns only one. Almost two-third of this segment’s sales comes from residential consumers. The company serves consumers in states including Pennsylvania, Virginia, Ohio, Kentucky, Massachusetts, and Maryland.
The company was first founded in 1912, and has its headquarters in Merrillville, Indiana in the United States. It is also a stand-alone public traded company. The company’s largest acquisition was Columbia Energy Group in 2000. NiSource holds access to a high-growth energy corridor, which includes 30% of America’s population and 40% of its power generation. In 2015, NiSource separated Columbia Pipeline Group and transformed it into a stand-alone publicly traded company. Shareholders at the time of separation received one share of Columbia Pipeline Group and one share of NiSource. This separation included the Columbia Gas Transmission, Columbia Gulf Transmission, ownership of Columbia Pipeline Partners, Columbia Midstream group and other natural gas pipelines.
The company aims to reduce carbon emission by 90% by 2028, by retiring from coal-fired units and switching to renewable energy sources, like solar and wind energy. NiSource Inc. shares trade on the NASDAQ stock exchange under the ticker symbol “NI.” NiSource was honoured with the Gold “Stevie” Award in the American Business Awards for their consumer website experience in 2020. Columbia Gas, which is a segment of NiSource Inc., also received the Gold “Stevie” Award. In 2014, the company ranked 448 in the Fortune 500 list of companies.;