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Capital Investment Drives Growth, Customer Benefits

Capital Investment Chart

Historical Operating Income** ($ Millions)

Historical Operating Income Chart

** Historical NiSource Gas Distribution and Electric Operations Reported Operating Income

Value Proposition and Strategic Approach


Annual Total Shareholder Return of 8%-10%*

  • ~$30B of 100% Regulated Utility Infrastructure Investment Opportunities
  • Scale Across Seven States
  • Transparent Earnings and Cash Flow Drivers
  • Constructive Regulatory Relationships and Mechanisms
  • Commitment to Investment Grade Credit

*Estimated total shareholder return at a constant P/E ratio


Delivering on our Commitments

  • Industry-Leading Safety and Performance
  • Top-Tier Customer Satisfaction
  • Investments that Systematically and Efficiently Deliver Service Integrity
  • Dependable, Predictable and Timely Service and Emergency Response
  • Growing Our Customer Base by Expanding into Unserved Areas
  • Recognized Among the Best Places to Work by All in Our Communities
  • Sustained Year-to-Year 5%-7% Net Operating Earnings and Dividend Growth Through 2020***

***Net Operating Earnings from Continuing Operations (Non-GAAP); Dividends subject to Board approval


Company Facts

Columbia Gas of Kentucky

  • Second Largest Gas-Only local distribution company (LDC) in KY (~135K Customers)
  • ~ 2,600 Miles of Pipe
  • ~ 400 Miles of Bare Steel & Cast Iron
  • ~ $238M Rate Base

Columbia Gas of Maryland

  • Complementary to PA Operations (~33K Customers in MD)
  • ~ 650 Miles of Pipe
  • ~ 80 Miles of Bare Steel & Cast Iron
  • ~ $93M Rate Base

Columbia Gas of Massachusetts

  • Largest Gas-Only LDC in MA (~320K Customers)
  • ~ 5,000 Miles of Pipe
  • ~ 690 Miles of Bare Steel & Cast Iron
  • ~ $669M Rate Base

Columbia Gas of Ohio

  • Largest LDC in Ohio (~1.4M customers)
  • ~ 20,100 Miles of Pipe
  • ~ 2,550 Miles of Bare Steel & Cast Iron
  • ~ $2.1B Rate Base

Columbia Gas of Pennsylvania

  • Third Largest LDC in PA (~430K Customers)
  • ~ 7,600 Miles of Pipe
  • ~ 1,500 Miles of Bare Steel & Cast Iron 
  • ~ $1.3B Rate Base

Columbia Gas of Virginia

  • Third Largest LDC in VA (~260K Customers)
  • ~ 5,200 Miles of Pipe
  • ~ 160 Miles of Bare Steel
  • ~ $609M Rate Base

Indiana Electric (NIPSCO)

  • Third Largest Electric Utility in Indiana (~470K Customers)
  • 3,300 MW of Environmentally Compliant Generation
  • ~10,000 Distribution Line Miles
  • ~3,000 Transmission Line Miles
  • ~ $3.4B Rate Base

Indiana Gas (NIPSCO)

  • Largest LDC in Indiana (~820K Customers)
  • ~ 17,900 Miles of Pipe
  • ~ 50 Miles of Bare Steel
  • ~ $915M Rate Base

Forward-Looking Statements

This web page contains forward-looking statements within the meaning of federal securities laws. Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one of those factors could cause actual results to differ materially from those projected. Examples of forward-looking statements on this web page include statements and expectations regarding NiSource’s business, performance, growth, investment opportunities, and planned, identified, infrastructure or utility investments. All forward-looking statements are based on assumptions that management believes to be reasonable; however, there can be no assurance that actual results will not differ materially. Factors that could cause actual results to differ materially from the projections, forecasts, estimates, plans, expectations and strategic direction discussed on this web page include, among other things, NiSource’s debt obligations; any changes in NiSource’s credit rating; NiSource’s ability to execute its growth strategy; changes in general economic, capital and commodity market conditions; pension funding obligations; economic regulation and the impact of regulatory rate reviews; NiSource's ability to obtain expected financial or regulatory outcomes; any damage to NiSource's reputation; compliance with environmental laws and the costs of associated liabilities; fluctuations in demand from residential and commercial customers; economic conditions of certain industries; the success of NIPSCO's electric generation strategy; the price of energy commodities and related transportation costs; the reliability of customers and suppliers to fulfill their payment and contractual obligations; potential impairments of goodwill or definite-lived intangible assets; changes in taxation and accounting principles; potential incidents and other operating risks associated with our business; the impact of an aging infrastructure; the impact of climate change; potential cyber-attacks; construction risks and natural gas costs and supply risks; extreme weather conditions; the attraction and retention of a qualified workforce; advances in technology; the ability of NiSource's subsidiaries to generate cash; uncertainties related to the expected benefits of NiSource's separation from Columbia Pipeline Group, Inc. and other matters set forth in Item 1A, “Risk Factors” section of NiSource’s most recent Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission. NiSource expressly disclaims any duty to update, supplement or amend any of its forward-looking statements contained in this on this web page, whether as a result of new information, subsequent events or otherwise, except as required by applicable law. 

Regulation G Disclosure Statement

This web page includes financial results and guidance for NiSource Inc. with respect to net operating earnings and operating earnings, which are non-GAAP financial measures as defined by the SEC’s Regulation G. NiSource Inc. includes such measures because management believes they permit investors to view NiSource Inc.'s performance using the same tools that management uses and to better evaluate NiSource Inc.'s ongoing business performance. With respect to such guidance, it should be noted that there will likely be differences between such measures and GAAP equivalents due to various factors, including, but not limited to, fluctuations in weather, asset sales and impairments, and other items included in GAAP results. NiSource Inc. is not able to estimate the impact of such factors on GAAP earnings and, as such, is not providing earnings guidance on a GAAP basis.