NiSource Inc. (NYSE: NI) has released its 2018 Integrated Annual Report, which highlights new emissions reduction targets that the company expects to achieve by 2030, building upon the aggressive environmental targets the company announced in 2016.
NiSource greenhouse gas emissions from electric generation are expected to fall 90 percent from 2005 levels, compared with a 50 percent reduction by 2025 under the targets set in 2016. By 2030, NiSource also expects to reduce:
- Nitrogen oxide, sulfur dioxide and mercury emissions by 99 percent from 2005 levels (compared with 90 percent by 2025 under the 2016 targets)
- Water withdrawal by 99 percent from 2005 levels (compared with 90 percent by 2025 under the 2016 targets)
- Wastewater discharge by 99 percent from 2005 levels (compared with 60 percent by 2025 under the 2016 targets)
- Coal ash generated by 100 percent from 2005 levels (compared with 50 percent by 2025 under the 2016 targets
These more aggressive targets are driven by a plan announced in late 2018 by Northern Indiana Public Service Co. (NIPSCO) to retire all of its coal-fired electric generation by 2028 and replace that capacity with renewable energy sources, such as wind, solar and battery storage technology. In the natural gas business, NiSource continues to expect to reduce methane emissions from gas main and service lines by 50 percent from 2005 levels as its pipeline modernization programs progress.
"NiSource has long been committed to improving the environmental performance of our energy systems and making it more affordable for our customers. The updated targets we're highlighting in our 2018 Integrated Annual Report demonstrate our continued progress doing just that. We'll continue to make our business more sustainable for our customers, the communities we serve, our employees and our investors," said NiSource President and CEO
The 2018 Integrated Annual Report covers the many ways that NiSource continues to focus on delivering value for its customers, communities and other stakeholders. It also addresses recovery efforts following the September 13, 2018 event that occurred on its natural gas distribution system in the Merrimack Valley of Massachusetts.
Other highlights of the report include:
- Investing in Safety. NiSource is focused on an accelerated company-wide implementation of a Safety Management System (SMS) aligned with a framework developed for pipeline operators by the American Petroleum Institute.
- Customer Experience Enhancements. In 2018, NiSource launched the first of its redesigned customer-facing web sites, with a modern, easy-to-navigate look that adjusts to all devices and browsers. The remaining customer web sites are being launched throughout 2019.
- Philanthropy and Citizenship. NiSource employees spent more than 12,000 hours volunteering at local nonprofits in 2018, and the company contributed more than $23 million to nonprofits across its operating area, including contributions associated with the recovery effort following the September 13 event in the Merrimack Valley.
- Energy Efficiency.Â Nearly 800,000 Columbia Gas and NIPSCO customers participated in energy efficiency programs in 2018, saving them approximately $23 million on their energy bills. Programs include rebates or discounts on home energy audits, high-efficiency appliances and HVAC equipment, weatherization projects and smart thermostats.
- Financial Performance. 2018 non-GAAP net operating earnings per share were in line with our guidance range, driven primarily by the company's long-term infrastructure modernization investments, supported by constructive regulatory outcomes and established infrastructure trackers. NiSource invested approximately $1.8 billion in its capital programs in 2018.
"This report shares how our dedicated NiSource team continues to invest in safety upgrades and infrastructure enhancements, deliver on our customer, community and environmental commitments, build a strong culture, and seek to ensure we develop and retain our workforce for the future," Hamrock said. "NiSource is well positioned to deliver long-term value to all stakeholders."
The full report is available at www.nisource.com/sustainability.
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
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SOURCE NiSource Inc.
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