NiSource Joins Low-Carbon Resources Initiative, Developing Key Technologies For A Sustainable Future

Rhea-AI Summary

NiSource Inc. (NYSE: NI) has joined the Low-Carbon Resources Initiative (LCRI), a five-year program aimed at developing low-carbon technologies such as clean hydrogen and renewable natural gas. This initiative supports NiSource's commitment to sustainable energy, with plans to save customers $4 billion through cleaner energy sources via its NIPSCO subsidiary, which aims to be coal-free by 2028. The company targets a 90% reduction in greenhouse gas emissions by 2030 and has been included in the Dow Jones Sustainability North America Index for seven consecutive years.

Positive

• Joining LCRI enhances NiSource's commitment to sustainable energy.
• Projected $4 billion savings for customers through renewable energy transition.
• Targets 90% reduction in greenhouse gas emissions by 2030.
• Ongoing investments expected to cut methane emissions by 50% by 2030.
• Recognized for sustainability efforts by inclusion in the Dow Jones Sustainability Index.

Negative

• None.

MERRILLVILLE, Ind., April 20, 2021 /PRNewswire/ -- NiSource Inc. (NYSE: NI) has joined the Low-Carbon Resources Initiative (LCRI), a five-year initiative to accelerate the development and demonstration of low-carbon energy technologies. LCRI's Research Vision focuses on technologies such as clean hydrogen, bioenergy and renewable natural gas needed to enable affordable pathways to economy-wide decarbonization.

"The Low-Carbon Resources Initiative aligns with NiSource's commitment to affordable, dependable and sustainable energy," said Joe Hamrock, president and chief executive officer of NiSource. "We are working closely with all of our stakeholders to ensure that our ongoing transition to more sustainable energy over the long term produces the best, most productive outcomes for all people and communities. We call this approach 'Your Energy, Your Future.'"

NiSource's journey to a clean energy future is well under way:

• At the company's NIPSCO subsidiary in Indiana, a transition to cleaner, lower cost and reliable sources of renewable energy is anticipated to save customers $4 billion over the long term. NIPSCO plans to be coal-free by 2028.
• The company targets a 90 percent reduction in greenhouse gas emissions by 2030 (compared with 2005 levels).
• Investments in gas system modernization are expected to drive a 50 percent reduction in methane emissions by 2030.
• Last year, more than 1.1 million electric and gas customers participated in the company's energy efficiency programs, reducing their carbon emissions through weatherization, equipment upgrades and behavioral programs.

NiSource has been named to the Dow Jones Sustainability North America Index for the seventh consecutive year. It is one of seven U.S. utility companies on the list, which acknowledges advancements it continues to make in its sustainability strategy.

NiSource is one of 39 sponsors of LCRI. LCRI is jointly led by the Electric Power Research Institute (EPRI) and Gas Technology Institute (GTI). More information about LCRI is available at www.LowCarbonLCRI.com.

About NiSource

NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. 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. 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 press 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 workforce and ability to maintain good labor relations; our ability to manage new initiatives and organizational changes; the performance of third-party suppliers and service providers; potential cyber-attacks; any damage to our reputation; any remaining liabilities or impact related to the sale of Massachusetts Business; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the impacts of climate change and extreme weather conditions; our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; adverse economic and capital market conditions or increases in interest rates; 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; changes in the method for determining LIBOR and the potential replacement of the LIBOR benchmark interest rate; 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; and other matters set forth in Item 1, "Business," Item 1A, "Risk Factors" and Part II. Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations," of the company's annual report on Form 10-K for the year ended December 31, 2020, some 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 is the significance of NiSource joining the Low-Carbon Resources Initiative?

NiSource's participation in the Low-Carbon Resources Initiative demonstrates its commitment to developing low-carbon energy technologies and sustainability.

How much does NiSource aim to save customers through its renewable energy transition?

NiSource aims to save customers $4 billion through its transition to cleaner energy sources as part of its NIPSCO subsidiary.

What are NiSource's greenhouse gas emission reduction targets?

NiSource targets a 90% reduction in greenhouse gas emissions by 2030, compared to 2005 levels.

How has NiSource been recognized for its sustainability efforts?

NiSource has been named to the Dow Jones Sustainability North America Index for seven consecutive years, highlighting its progress in sustainability.

What is NiSource's plan for transitioning from coal?

NiSource plans for its NIPSCO subsidiary to be coal-free by 2028 as part of its sustainable energy strategy.