NiSource said that as of March 31, 2025, it had placed in service owned renewable and storage projects developed under BTAs with combined nameplate capacities of 1,500 MW and 101 MW respectively, and renewable PPA projects with a combined nameplate capacity of 600 MW. The company said that renewable BTA projects with combined nameplate capacities of 650 MW and renewable PPA projects with a combined nameplate capacity of 600 MW were under development, with IURC approval received for all except the Templeton project.

1. 01

   NiSource said that as of March 31, 2025, it had placed in service owned renewable and storage projects developed under BTAs with combined nameplate capacities of 1,500 MW and 101 MW respectively, and renewable PPA projects with a combined nameplate capacity of 600 MW. The company said that renewable BTA projects with combined nameplate capacities of 650 MW and renewable PPA projects with a combined nameplate capacity of 600 MW were under development, with IURC approval received for all except the Templeton project.

2. 02

   NiSource said it remained on track to retire the remaining 2 coal units at R.M. Schahfer by the end of 2025. The company said the 2021 Plan laid out a timeline to retire Michigan City Generating Station by the end of 2028, and added that final retirement dates would be subject to MISO approval.

3. 03

   NiSource submitted its 2024 Integrated Resource Plan to the IURC on December 9, 2024. The company said the plan calls for additional generation resources through 2029 to support capacity requirements and incorporates anticipated load growth from data centers and other economic development. It added that customer interest related to data center development in its northern Indiana service territory has accelerated.

4. 04

   NiSource cited higher revenues driven by capital investments as the primary reason for the increase in net income available to common shareholders for the 3 months ended March 31, 2025. The company said this was partially offset by higher operating expenses, including increased depreciation expense attributed to net plant balances and higher interest expense.

Key figures

Quarter ended March 31, 2025

Revenue

$2.1B

Operating income

$759M

Net income

$475M

EPS

$1.00

Operating cash flow

$686M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.