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Many Happy Returns: NiSource Reports Strong Returns

Monday, March 20, 2017

NiSource, NIPSCO’s parent company, announced 2016 net income of $328.1 million and credits long-term infrastructure programs for positive performance.

In 2015, the company reported $198.2 million, so 2016’s $328.1 million marks a $129.9 million increase in full-year net income.

“Our financial and operational results in 2016 – our first fiscal year operating exclusively as a regulated utility—demonstrate the strength of our long-term infrastructure investment strategy,” said Joseph Hamrock, CEO of NiSource. In mid-2015, NiSource split into two companies: NiSource returned to being a pure utility company and spun off operations of 15,000 miles of natural gas transmission pipelines into an entirely new company named Columbia Pipeline Group. “These utility investments enhanced the safety, reliability and environmental performance of our system, as well as customer service and employee training, all of which supported earnings and dividend growth for our investors.”

In 2016, the company invested $1.5 billion, replacing more than 400 miles of pipe across seven states along with other projects. This investment in infrastructure will continue with another $1.6 billion planned for 2017.