NiSource Inc. reported a total operating revenue of $5.46 billion for the fiscal year ending December 31, 2024, a decrease of 0.9% from $5.51 billion in 2023. The company's net income attributable to shareholders increased to $739.7 million, up from $661.7 million in the previous year, reflecting a 11.8% rise. This growth in profitability was primarily driven by higher revenues from ongoing investments in safety and reliability, as well as increased Allowance for Funds Used During Construction (AFUDC) related to renewable energy projects.
The company experienced significant operational changes, including the addition of 21,000 customers across its Columbia and NIPSCO segments. NiSource's Columbia Operations segment, which provides natural gas to approximately 2.4 million customers, reported operating revenues of $2.72 billion, while the NIPSCO Operations segment, serving both gas and electric customers in northern Indiana, generated $2.75 billion in operating revenues. The overall customer base now totals approximately 3.8 million across six states.
Strategically, NiSource has been advancing its energy transition initiatives, including the retirement of coal-fired generation units and the development of renewable energy projects. In 2024, the company invested $1.5 billion in infrastructure modernization, which included the replacement of 288 miles of distribution main and service lines. The company also received regulatory approvals for several renewable energy projects, enhancing its capacity for low- or zero-emission generation.
The company’s financial outlook remains cautiously optimistic, with plans to invest approximately $19.4 billion from 2025 to 2029 in infrastructure modernization and renewable energy projects. However, NiSource acknowledges potential risks, including supply chain challenges and regulatory uncertainties, which could impact its ability to execute its business plan effectively. The company continues to monitor these risks closely while focusing on enhancing operational efficiency and customer service.
About NISOURCE INC.
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