Analyst Report: NiSource Inc

Argus

•

Apr 10, 2026

Summary

NiSource is simply a regulated state inferior with smaller energy operations successful six states: IN, KY, MD, OH, PA, and VA. NiSource has 2 cardinal subsidiaries that provided transmission, distribution, and procreation operations-Columbia Gas and NIPSCO. The institution provides earthy state to 3.3 cardinal customers, of which astir 2 thirds of customers are successful Ohio and Pennsylvania. Electric work is provided to 500,000 customers. As of 2024, NIPSCO had astir 3,300 MW of generating capableness from 11 facilities and astir 55,000 earthy state organisation lines. NI besides has LNG operations successful Indiana. The institution has 2 coal-fired plants but hopes to destruct ember from its procreation premix by 2028 and beryllium nett zero by 2040. Its generating substance premix is astir 43% coal, 26% earthy gas, 13% solar, and