From the Times of Northwest Indiana | NIPSCO’s chief executive Jimmy Staton received a 31 percent pay raise to $1.9 million last year while telling state regulators the utility needs more money from customers to cover increased costs.Get the full story>>
NiSource
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NiSource 4Q profit falls 63%
NiSource Inc.’s fourth-quarter earnings fell 63 percent amid early debt-extinguishment losses as the regional utility reported higher-than-expected revenue.
The Midwest and Northeast electricity and natural gas utility has benefitted from cost cutting and improving demand in some of its markets last year. Its industrial volume received a boost as the manufacturing sector rebounded last year. Get the full story »
NiSource to pay $600M to settle EPA violations
A NiSource Inc. utility unit finalized a settlement with the U.S. Environmental Protection Agency, agreeing to invest $600 million in environmental, conservation initiatives, and clean energy programs in northern Indiana.
The settlement is the 17th reached by the EPA and the Department of Justice as part of a national initiative to control emissions from coal-fired power plants under the Clean Air Act’s New Source Review requirements. In addition to the investment, NiSource will pay a $3.5 million civil penalty. Get the full story »
Exelon may pursue NIPSCO natural gas utility
A spokesman for Chicago-based energy company Exelon Corp. would not confirm the company’s interest in acquiring Northern Indiana Public Service Co. gas utility from NiSource Inc., but wouldn’t rule it out. Platts Energy Week reported Wednesday that Exelon CEO John Rowe told investors Dec. 14 that Exelon is considering pursuing a natural gas utility. Get the full story>>
NiSource swings to 2Q profit
NiSource Inc. swung to a bigger-than-expected second-quarter profit amid higher volume, but the top line slid on a tumble in non-operational revenue. NiSource posted a profit of $28.1 million, or 10 cents a share, compared with a year-earlier loss of $4.8 million, or a penny a share. Revenue slid 7.7 percent to $1.17 billion as so-called “other” revenue tumbled 60 percent. Get the full story »
