"As we distribute our Integrated Annual Report outlining the work we did in 2019, the entire world is dealing with the COVID-19 pandemic," said
Highlights of the report, which can be read in its entirety at NiSource.com, include:
- Safety leadership as a foundational commitment.
NiSourceis advancing safety across the company through accelerated implementation of a Safety Management System (SMS), aligned with a framework developed for pipeline operators by the American Petroleum Institute. SMS is increasing our rigor in identifying risks and taking action to keep our customers, communities, employees and contractors safe.
- Rebuilding trust. While safety is the company's No. 1 priority,
NiSourceis also working to regain the trust of all its stakeholders following that tragic September 2018event in Massachusetts' Merrimack Valley. It has acted on safety recommendations by the National Transportation Safety Board, and is making safety-enhancing investments across its seven-state operating area.
- Transforming the electric business.
NiSourcehas three wind projects in progress in Indianaand is actively seeking additional renewable resources to replace its coal-fired generating capacity, all of which is scheduled to be retired by 2028. These initiatives are expected to save customers more than $4 billionover 30 years.
- Supporting sustainability.
NiSourcewas named to the Dow Jones Sustainability North America Index for the sixth consecutive year in 2019, and was one only of three U.S.multi-utility companies on the list. This recognition acknowledges advancements NiSourcecontinues to make in its sustainability strategy, including an expected 90 percent reduction in greenhouse gas emissions by 2030 compared to 2005 levels and executing against more than $30 billionof long-term infrastructure and safety investments over 20 years.
- Long-term growth for investors.
NiSourcedelivered 2019 full-year non-GAAP net operating earnings per share near the top of its guidance range for the year. It made $1.9 billionin capital infrastructure and safety investments in its gas and electric systems, while maintaining its current investment-grade credit ratings and executing on its regulatory plan.
- Creating the next chapter for
Columbia Gas of Massachusetts. In 2019, NiSourcesubstantially completed the restoration in the Merrimack Valley, settled all major civil claims and resolved the criminal investigation stemming from the September 2018event. And in February 2020, the company announced an agreement to sell its assets in Massachusettsto Eversource Energy, New England's largest energy delivery company. The sale is in the best interests of all stakeholders, and provides Columbia Gas of Massachusettsemployees an opportunity to join a strong organization with deep roots in the region, and a commitment to further enhance safety, pipeline integrity and reliability.
"I want to thank the entire
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). 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. These forward-looking statements include, but are not limited to, statements concerning our plans, strategies, objectives, expected performance, expenditures, 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 and expectations discussed in this press release include among other things, our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; our ability to execute our growth strategy; changes in general economic, capital and commodity market conditions; pension funding obligations; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; our 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; compliance with the agreements entered into with the
View original content to download multimedia:http://www.prnewswire.com/news-releases/nisource-renews-commitments-in-2019-integrated-annual-report-301040404.html
Media, Ken Stammen, Corporate Media Relations, (614) 460-5544, firstname.lastname@example.org; Investors, Nick Drew, Director, Investor Relations, (614) 460-4638, email@example.com; Sara Macioch, Manager, Investor Relations, (614) 460-4789, firstname.lastname@example.org