NiSource Issues Annual Safety Report

Rhea-AI Summary

The 2022 Annual Safety Report from NiSource (NYSE: NI) emphasizes the company's dedication to safety across its six-state service area.

Key highlights include:

• Recognition for successfully implementing a Safety Management System, making it the second energy company in the sector to achieve this.
• Enhancements in customer safety through a new Damage Prevention Risk Model software.
• Replacement of over 265 miles of priority pipeline, including the final sections of cast iron pipe.
• Ongoing modernization of electric infrastructure and leak detection capabilities through Picarro-equipped vehicles.
• Strengthening of emergency management protocols through regular training.

NiSource aims to deliver safe, reliable energy while promoting sustainability and accountability.

Positive

• Recognition received for the successful implementation of the Safety Management System, enhancing company reputation.
• Replacement of over 265 miles of priority pipeline improves safety and infrastructure.
• New Damage Prevention Risk Model software enhances customer safety communication.
• Investment in electric infrastructure modernization supports reliable service.
• Partnership with Picarro vehicles contributes to emissions reduction.

Negative

• None.

2022 Annual Safety Report reaffirms NiSource's commitment to safety; Highlights progress seen across six-state footprint

MERRILLVILLE, Ind., April 6, 2023 /PRNewswire/ -- NiSource Inc. (NYSE: NI) released its 2022 annual safety report, highlighting its commitment and approach to safety through process improvements, best practices and investments.  

"We hold each other accountable to perform with excellence and to do the right things to keep the public and our employees safe above all else," said Bill Jefferson, executive vice president of operations and chief safety officer. "The millions of homes and businesses we serve depend on service that is safe first and foremost, and we thank all our employees, contractors, and business partners for their dedication to this critical shared responsibility."

Key highlights from the 2022 Safety Report include:  

• NiSource received industry recognition for the successful implementation of our Safety Management System (SMS), making us the second energy company in the industry to receive this recognition.
• The company drove customer-focused safety enhancements such as upgrading the Damage Prevention Risk Model (DPRM), a new software that NiSource employees can now use to document one-on-one conversations with customers about pipeline safety.
• Last year, NiSource replaced more than 265 miles of priority pipe (including cast iron, wrought iron and bare steel), including the last remaining sections of known cast iron pipe for two of its state operating companies.
• NiSource continued its electric infrastructure modernization efforts, by replacing electric transformers and breakers, rebuilding circuits, replacing underground cables, replacing and upgrading wood and steel poles, rebuilding electric substations and more.
• NiSource continued its strong partnership with Picarro-equipped vehicles to provide advance leak detection capabilities.  In 2022 alone, NiSource Picarro vehicles surveyed 15,230 miles of distribution pipe and mitigated 3,400 standard cubic feet per hour (SCFH) of carbon emissions.
• The NiSource Emergency Management team continued to enhance awareness and understanding of all emergency response roles to team members through regular exercises and training.

Click here to read the full 2022 annual safety report: NiSource Safety Report 2022

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 7,200 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

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one of those factors could cause actual results to differ materially from those projected. These forward-looking statements include, but are not limited to, statements concerning our plans, strategies, objectives, expected performance, expenditures, recovery of expenditures through rates, stated on either a consolidated or segment basis, and any and all underlying assumptions and other statements that are other than statements of historical fact. Expressions of future goals and expectations and similar expressions, including "may," "will," "should," "could," "would," "aims," "seeks," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "targets," "forecast," and "continue," reflecting something other than historical fact are intended to identify forward-looking statements. All forward-looking statements are based on assumptions that management believes to be reasonable; however, there can be no assurance that actual results will not differ materially.

Factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this release include, among other things, our ability to execute our business plan or growth strategy, including utility infrastructure investments; potential incidents and other operating risks associated with our business; our ability to adapt to, and manage costs related to, advances in technology; impacts related to our aging infrastructure; our ability to obtain sufficient insurance coverage and whether such coverage will protect us against significant losses; the success of our electric generation strategy; construction risks and natural gas costs and supply risks; fluctuations in demand from residential and commercial customers; fluctuations in the price of energy commodities and related transportation costs or an inability to obtain an adequate, reliable and cost-effective fuel supply to meet customer demands; the attraction and retention of a qualified, diverse workforce and ability to maintain good labor relations; our ability to manage new initiatives and organizational changes; the actions of activist stockholders; the performance of third-party suppliers and service providers; potential cybersecurity attacks; increased requirements and costs related to cybersecurity; any damage to our reputation; any remaining liabilities or impact related to the sale of the Massachusetts Business; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the physical impacts of climate change and the transition to a lower carbon future; our ability to manage the financial and operational risks related to achieving our carbon emission reduction goals, including our net-zero goal; our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; any adverse effects related to our equity units; adverse economic and capital market conditions or increases in interest rates; inflation; recessions; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; continuing and potential future impacts from the COVID-19 pandemic; economic conditions in certain industries; the reliability of customers and suppliers to fulfill their payment and contractual obligations; the ability of our subsidiaries to generate cash; pension funding obligations; potential impairments of goodwill; the outcome of legal and regulatory proceedings, investigations, incidents, claims and litigation; potential remaining liabilities related to the Greater Lawrence Incident; compliance with the agreements entered into with the U.S. Attorney's Office to settle the U.S. Attorney's Office's investigation relating to the Greater Lawrence Incident; compliance with applicable laws, regulations and tariffs; compliance with environmental laws and the costs of associated liabilities; changes in taxation; other matters in the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, many of which risks are beyond our control. In addition, the relative contributions to profitability by each business segment, and the assumptions underlying the forward-looking statements relating thereto, may change over time.

All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.

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SOURCE NiSource Inc.

FAQ

What does NiSource's 2022 Annual Safety Report highlight?

NiSource's 2022 Annual Safety Report highlights its commitment to safety, including process improvements and infrastructure investments.

How many miles of pipeline did NiSource replace in 2022?

In 2022, NiSource replaced over 265 miles of priority pipeline, including the last sections of cast iron pipe.

What safety system did NiSource implement successfully?

NiSource successfully implemented a Safety Management System, becoming the second energy company to receive industry recognition for it.

What is the purpose of the Damage Prevention Risk Model introduced by NiSource?

The Damage Prevention Risk Model is a new software designed to document customer conversations about pipeline safety.

How does NiSource contribute to emissions reduction?

NiSource utilizes Picarro-equipped vehicles which surveyed 15,230 miles of distribution pipe, mitigating 3,400 standard cubic feet per hour of carbon emissions.