NiSource achieves international certification for system and safety management practices

Rhea-AI Summary

NiSource (NYSE: NI) has achieved two international certifications for its gas operations: ISO 55001 and API RP 1173, awarded by LRQA. These certifications underscore NiSource's dedication to safety and operational excellence. Bill Jefferson, EVP and Chief Operating and Safety Officer, emphasized the importance of safety for customers, communities, and the workforce. The certification process included in-person reviews and rigorous, independent audits by LRQA in early 2024. These standards are integral to NiSource's Safety Management System, which ensures the management of physical assets like pipelines and gas storage facilities.

Positive

• NiSource achieved ISO 55001 and API RP 1173 certifications for operational standards.
• Certifications awarded by LRQA, a leading provider of engineering and technology services.
• NiSource is one of the first utilities to obtain these certifications, enhancing its industry reputation.
• The certification process highlighted safety and operational excellence.
• Standards are foundational to NiSource’s Safety Management System (SMS).
• Focus on continuous improvement in safety practices and risk management.

Negative

• No specific financial data or impact on revenue highlighted in the certification announcement.
• Details on costs or investments required for obtaining and maintaining certifications are not provided.
• Impact on stock performance and shareholder value remains uncertain without quantifiable metrics.

MERRILLVILLE, Ind.--(BUSINESS WIRE)-- NiSource Inc. (NYSE: NI) announced today that it has achieved two international certifications for best-in-class operational standards for its gas operations. NiSource is one of the first utilities in the world to hold the International Organization for Standardization (ISO) 55001 and American Petroleum Institute’s Recommended Practice (API RP) 1173 certifications. Both certifications were awarded by LRQA, one of the world’s leading providers of professional engineering and technology services.

“The safety of our customers, communities and workforce will always be our highest priority and these certifications are a testament that we are taking the right steps to not only keep people safe but our systems safe as well,” said Bill Jefferson, EVP, Chief Operating and Safety Officer at NiSource. “Natural gas is an important part of a balanced future energy mix, and I am proud of the focus and determination of our NiSource team for their efforts to uphold our responsibility as a trusted energy partner.”

In early 2024, LRQA conducted in-person visits throughout our Columbia Gas of Pennsylvania’s service territory to review safety practices, information and risk management policies, employee qualifications, emergency response protocols and more.

“The certification and re-assessment process also involved a series of rigorous, independent audits and interviews of NiSource management, field employees and contractors,” said Lauren Grether, VP of Operation Excellence at NiSource. “These practices help us stay focused on and foster continuous improvement of our operations, which are foundational to our SMS program and critical in driving operational excellence.”

The underlying requirements of the API RP 1173 and ISO 55001 standards are the foundation of NiSource’s Safety Management System (SMS), which calls for the highest level of rigor for managing the company's large number of physical assets – including transmission and distribution pipelines, pressure regulator stations, gas storage facilities, meters and more.

NiSource joins two other major US utilities and eight companies around the world with the ISO 55001 certification. Learn more about NiSource’s commitment to safety at NiSource.com.

About NiSource

NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.3 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. The mission of our approximately 7,400 employees is to deliver safe, reliable energy that drives value to our customers. NiSource is a member of the Dow Jones Sustainability - North America Index and is on Forbes lists of America’s Best Employers for Women and Diversity. Learn more about NiSource’s record of leadership in sustainability, investments in the communities it serves and how we live our vision to be an innovative and trusted energy partner at www.NiSource.com. NI-F

About International Organization for Standardization (ISO) 55001

ISO 55001 was developed by ISO to enable organizations to implement effective and efficient management systems for physical assets. The certification provides assurance that an organization can achieve its asset management objectives consistently and sustainably over time. ISO is an independent, non-governmental organization made up of members from the national standards bodies of 162 countries and has published more than 19,500 international standards covering almost all aspects of technology and business.

About American Petroleum Institute’s Recommended Practice (API RP) 1173

API RP 1173, Pipeline Safety Management Systems, is a recommended practice released by the American Petroleum Institute establishing a pipeline safety management systems (PSMS) framework for organizations that operate hazardous liquids and gas pipelines jurisdictional to the U.S. Department of Transportation.

About LRQA

LRQA is a global engineering, technical and business services organization wholly owned by the Lloyd's Register Foundation, a UK charity dedicated to research and education in science and engineering. Founded in 1760 as a marine classification society, LRQA now operates across many industry sectors, with over 9,000 employees based in 78 countries. LRQA has been a key player in the development of ISO 55001 and API RP 2008 and has supported over 50 companies worldwide across a variety of sectors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240604876519/en/

Media

Christopher Beard

Corporate Media Relations

(224) 399-5705

cbeard@nisource.com

Source: NiSource Inc.

FAQ

What certifications did NiSource (NYSE: NI) achieve for its gas operations?

NiSource achieved ISO 55001 and API RP 1173 certifications.

Who awarded NiSource the ISO 55001 and API RP 1173 certifications?

The certifications were awarded by LRQA.

What does the ISO 55001 certification signify for NiSource (NYSE: NI)?

The ISO 55001 certification signifies best-in-class operational standards and asset management practices.

What is the significance of the API RP 1173 certification for NiSource?

API RP 1173 certification underscores NiSource's adherence to recommended safety and operational practices in the petroleum industry.

When were the certifications for NiSource's gas operations reviewed?

LRQA conducted reviews and audits in early 2024.

How does the new certification impact NiSource's safety management?

The certifications reinforce NiSource's commitment to high standards in safety management and continuous operational improvement.

What was involved in the certification process for NiSource?

The process included in-person reviews, independent audits, and interviews with NiSource management, field employees, and contractors.

What role does safety play in NiSource's (NYSE: NI) operations?

Safety is the highest priority for NiSource, focusing on the safety of customers, communities, and the workforce.