NiSource today released its 2018 Climate Report, a detailed description of the company's journey to achieve aggressive greenhouse gas (GHG) emissions reduction targets, while delivering the best cost, most balanced and reliable energy to its customers and supporting local economies in the communities it serves.
The report incorporates recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD) to disclose governance, strategy, risk management, and metrics around climate-related risks and opportunities.
"In serving nearly 4 million natural gas and electric customers across seven states, our operating companies share common commitments to safety, customer satisfaction, reliable and affordable service and sustainability," said NiSource President and CEO
. "We're openly and transparently engaging our customers, our communities and all of our stakeholders in long-term planning to meet these commitments."
NiSource has taken an industry-leading approach to addressing climate change by developing plans that result in a projected 90 percent reduction of our GHG emissions by 2030 and a projected 50 percent reduction in methane emissions from natural gas distribution mains and service lines by 2025.
The report highlights several elements of those plans, including:
- Your Energy, Your Future - Unveiled in October 2018 by our Northern Indiana Public Service Company (NIPSCO) subsidiary, this plan outlines a balanced, gradual and orderly process to retire all of our coal-fired electric generating units by 2028 and to begin replacing them with lower-cost, cleaner energy sources, including wind, solar and battery storage.
- Gas Infrastructure Modernization - Our well-established priority pipe replacement programs are expected to drive a 50 percent reduction in methane emissions from gas distribution mains and service lines by 2025, compared to 2005 levels.
The report also highlights results NiSource has already achieved through its climate-related actions:
- By the end of 2018, the company reduced methane emissions from natural gas distribution mains and service lines by 34 percent as it replaced priority pipe across its service territory, and reduced electric generation GHG emissions by 37 percent, compared to 2005 levels.
- In 2018, the company helped nearly 800,000 customers reduce their emissions through its programs offering energy-efficiency upgrades, home check-ups and weatherization services. Customers participating in the gas efficiency programs conserved more than 6.5 billion cubic feet of gas in 2018, reducing carbon dioxide emissions by approximately 350,000 metric tonnes.
As the report notes, NiSource is making significant investments in its infrastructure, including nearly $30 billion in identified long-term system modernization and growth programs spanning 20-plus years. The company expects customers will continue to seek renewable energy and delivery of reliable, affordable, low-carbon natural gas. NiSource will continue to implement customer programs and collaborate with partners to reduce GHG emissions associated with natural gas.
To read NiSource's 2018 Climate Report, please visit www.nisource.com/company/sustainability/reports-and-policies.
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 8,100 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability - North America Index, the Bloomberg Gender Equality Index and has been named by Forbes magazine among America's Best Large Employers since 2016. 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
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, but are not limited to, statements and expectations regarding NiSource's or any of its subsidiaries' plans, strategies, objectives, expected performance, expenditures, including planned, identified, infrastructure or utility investments, recovery of expenditures through rates, stated on either a consolidated or segment basis, and any and all underlying assumptions and other statements that are other than statements of historical fact. 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; NiSource's ability to adapt to, and manage costs related to, advances in technology; any changes in our assumptions regarding the financial implications of the Greater Lawrence Incident; potential incidents and other operating risks associated with our business; our ability to obtain sufficient insurance coverage; the outcome of legal and regulatory proceedings, investigations, inquiries, claims and litigation; any damage to NiSource's reputation, including in connection with the Greater Lawrence Incident; 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; 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; 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 transition to a replacement for the LIBOR benchmark interest rate; 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, 2018 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. All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. 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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