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Tuesday, August 28, 2018
Columbia Gas of Virginia Files to Recover Investments in System Safety, Reliability and Growth

MERRILLVILLE, Ind., Aug. 28, 2018 /PRNewswire/ -- NiSource (NYSE: NI) subsidiary Columbia Gas of Virginia today filed a base rate case with the Virginia State Corporation Commission (SCC) seeking to recover costs associated with ongoing infrastructure investment programs and to incorporate changes from federal tax reform legislation which benefit the company's customers.

Columbia's filing details its request for $22.2 million per year in additional revenues, primarily associated with Columbia's infrastructure investment programs. These investments have benefitted customers by enhancing natural gas system safety and reliability and contributing to reductions in greenhouse gas emissions. The company's capital investments also bring natural gas to unserved areas and provide infrastructure to support economic growth.

The revenue increase incorporates savings associated with the Tax Cuts and Jobs Act of 2017. Columbia proposes to include in rates the benefits associated with the reduction in corporate federal tax rates from 35 percent to 21 percent which became effective on January 1, 2018.

"Columbia Gas is committed to enhancing the energy value we deliver to customers," Columbia Gas of Virginia President and Chief Operating Officer Brent Archer said. "This proposal reflects investment in customer-focused programs to improve service, ensure reliability during extreme weather, and reduce methane emissions from our system. We are also committed to expanding natural gas service to new homes, businesses and industries across the Commonwealth - helping fuel job creation and continued economic growth."

If approved by the SCC, the request would increase the average total monthly natural gas bill for a typical residential customer by $5.61 per month or approximately 7.5 percent when compared to current rates. Columbia Gas has requested that the new rates become effective February 1, 2019.

Columbia's proposal would affect its base natural gas rates, which include costs associated with natural gas delivery, distribution and customer service. Base rates represent about 60 percent of a typical customer's total bill. The remaining 40 percent of the bill consists of natural gas costs, which are directly passed through to customers on a dollar-for-dollar basis.

Customers with questions regarding the proposal may call 1-800-543-8911 or visit columbiagasva.com for more information. Customers can also follow the company on Facebook (ColumbiaGasVa) and Twitter @ColumbiaGasVa.

About Columbia Gas of Virginia
Columbia Gas of Virginia delivers safe, reliable and clean natural gas to more than 265,000 customers in portions of Northern Virginia, Hampton Roads, suburban Richmond, Central Virginia, Shenandoah Valley, Lynchburg region and Western Virginia. With headquarters in Chesterfield County, the company is one of the seven energy distribution companies of NiSource Inc. (NYSE: NI) serving 3.8 million natural gas and electric customers. Always call 811 before you dig and Dig with CARE.

About NiSource
NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.5 million natural gas customers and 500,000 electric customers across seven states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 8,000 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource has been designated a World's Most Ethical Company by the Ethisphere Institute since 2012, is a member of the Dow Jones Sustainability - North America Index and was named by Forbes magazine as the top-rated utility among America's Best Large Employers in 2017. Additional information about NiSource, its investments in modern infrastructure and systems, its commitments and its local brands can be found at www.nisource.com. Follow us at www.facebook.com/nisource, www.linkedin.com/company/nisource or www.twitter.com/nisourceinc. NI-F

Forward-Looking Statements
This press release 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 in this press release include statements and expectations regarding NiSource's or any of its subsidiaries' business, performance, growth, commitments, 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 strategy discussed in this press release 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 or an inability to obtain an adequate, reliable and cost-effective fuel supply to meet customer demands; 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 work force; advances in technology; the ability of NiSource's subsidiaries to generate cash; tax liabilities associated with the separation of Columbia Pipeline Group, Inc.; NiSource's ability to manage new initiatives and organizational changes; the performance of third-party suppliers and service providers; the availability of insurance to cover all significant losses and other matters set forth in Item 1A, "Risk Factors" section of NiSource's Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and in other filings with the Securities and Exchange Commission. A credit rating is not a recommendation to buy, sell or hold securities, and may be subject to revision or withdrawal at any time by the assigning rating organization. In addition, dividends are subject to board approval. NiSource expressly disclaims any duty to update, supplement or amend any of its forward-looking statements contained in this press release, whether as a result of new information, subsequent events or otherwise, except as required by applicable law.

 

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SOURCE NiSource Inc.

 

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By News Desk, NiSource

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