NiSource said on September 18, 2025 that NIPSCO entered into a data center power supply agreement with a wholly-owned subsidiary of a large publicly traded company, under which NIPSCO will provide electric service beginning in 2027 and increasing to a capacity commitment of 2,400 MW by the end of 2032, subject to IURC approval.

1. 01

   NiSource said on September 18, 2025 that NIPSCO entered into a data center power supply agreement with a wholly-owned subsidiary of a large publicly traded company, under which NIPSCO will provide electric service beginning in 2027 and increasing to a capacity commitment of 2,400 MW by the end of 2032, subject to IURC approval.

2. 02

   The company said GenCo plans to construct 400 MW of new battery storage and a new power generation facility consisting of 2 combined-cycle, natural gas-fired turbines with a nameplate capacity of 1,300 MW each, which are expected to reach commercial operation between 2028 and 2032, and that the aggregate cost of the Contract Assets, together with the cost to develop related transmission infrastructure, is currently estimated to be approximately $7 billion.

3. 03

   The company said the Customer may terminate the Data Center Contract for convenience following certain notice periods and also has a one-time option exercisable no later than March 31, 2029 to reduce the committed capacity to 1,200 MW commencing January 31, 2032.

4. 04

   The company cited higher revenues driven by capital investments as the primary factor in the increase in net income available to common shareholders for the 3 months and 9 months ended September 30, 2025, adding that increases in operation and maintenance expense, depreciation expense and interest expense partially offset this gain.

Key figures

Quarter ended September 30, 2025

Revenue

$1.2B

Operating income

$298M

Net income

$95M

EPS

$0.20

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.