Nisource Inc. (NI): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Nisource Inc. (NI) está na vanguarda da inovação energética, transformando o cenário de utilidade através de um modelo de negócios estratégico que equilibra a distribuição tradicional de energia com soluções sustentáveis ​​com visão de futuro. Ao integrar perfeitamente serviços de serviços públicos abrangentes em vários estados, a Nisource criou uma abordagem dinâmica que atenda às necessidades de energia em evolução de clientes residenciais, comerciais e industriais, mantendo um compromisso constante com a modernização da infraestrutura e a transição de energia limpa. Esse modelo de modelo de negócios intrincado revela como a empresa navega estrategicamente em ambientes regulatórios complexos, aproveita as tecnologias avançadas e fornece soluções de energia confiáveis ​​e acessíveis que posicionam a Nisource como um participante fundamental no ecossistema de utilidade contemporânea.

Nisource Inc. (NI) - Modelo de negócios: Parcerias -chave

Reguladores de serviços públicos locais e estaduais

A Nisource Inc. mantém parcerias com os principais órgãos regulatórios em vários estados:

Estado	Agência regulatória	Supervisão regulatória
Indiana	Comissão Reguladora de Utilitário de Indiana	Aprovações de taxa e investimentos em infraestrutura
Ohio	Comissão de Serviços Públicos de Ohio	Regulamentos do território de serviço
Massachusetts	Departamento de Serviços Públicos de Massachusetts	Monitoramento de desempenho do utilitário

Fornecedores de infraestrutura de gás natural e de energia elétrica

Nisource colabora com fornecedores críticos de infraestrutura:

• Transcanada Corporation - Transporte de gás natural
• Kinder Morgan Inc. - Infraestrutura de pipeline
• Enbridge Inc. - Redes de transmissão de gás

Provedores de tecnologia de energia renovável

As parcerias de energia renovável estratégica incluem:

Parceiro	Foco em tecnologia	Valor do investimento
Primeiro solar	Tecnologia solar fotovoltaica	US $ 15,2 milhões
General Electric	Infraestrutura da turbina eólica	US $ 22,7 milhões

Contratados de construção e manutenção

Detalhes da parceria de construção e manutenção de chaves:

• MASTEC Inc. - Serviços de Construção de Infraestrutura
• Serviços Quanta - Manutenção de Infraestrutura de Utilidade
• EMCOR GROUP - Engenharia de utilidade especializada

Instituições financeiras e parceiros de investimento

Rede de Parceria Financeira:

Instituição	Tipo de parceria	Valor de financiamento
JPMorgan Chase	Linhas de crédito	US $ 750 milhões
Bank of America	Financiamento de dívida de longo prazo	US $ 500 milhões
Citigroup	Serviços bancários de investimento	US $ 250 milhões

Nisource Inc. (NI) - Modelo de negócios: Atividades -chave

Serviços de distribuição de gás natural

A Nisource atende a aproximadamente 2,1 milhões de clientes de gás natural em seis estados. Receita anual de distribuição de gás natural: US $ 1,86 bilhão.

Estado	Número de clientes de gás
Ohio	741,000
Pensilvânia	376,000
Indiana	534,000

Geração de energia elétrica e transmissão

O Nisource gera e transmite eletricidade através do gás Columbia de Ohio e Nipsco. Capacidade total de geração elétrica: 2.454 megawatts.

• Geração a carvão: 1.072 megawatts
• Geração de gás natural: 1.382 megawatts

Manutenção e atualizações de infraestrutura

Investimento anual de infraestrutura: US $ 1,4 bilhão. O programa de substituição de pipeline cobre 1.800 milhas de infraestrutura anualmente.

Tipo de infraestrutura	Investimento anual
Substituição de gasoduto	US $ 650 milhões
Modernização da grade elétrica	US $ 750 milhões

Desenvolvimento do Programa de Eficiência Energética

A Nisource implementa programas de eficiência energética em territórios de serviço. Economia anual de energia: 45 milhões de quilowatt-hora.

Gerenciamento de conformidade regulatória

Orçamento de conformidade: US $ 75 milhões anualmente. Equipe dedicada de 126 profissionais de conformidade regulatória.

• Monitoramento de conformidade ambiental
• Adesão à regulamentação de segurança
• Relatório da Comissão de Utilitário Estadual

Nisource Inc. (NI) - Modelo de negócios: Recursos -chave

Extensa rede de infraestrutura de utilidade

A Nisource opera uma infraestrutura de utilidade abrangente, abrangendo 21.000 milhas de oleodutos de transmissão de gás natural e atendendo a aproximadamente 2,2 milhões de clientes de gás natural em sete estados.

Ativo de infraestrutura	Quantidade	Cobertura
Oleodutos de transmissão de gás natural	21.000 milhas	7 estados
Clientes de distribuição de gás natural	2,2 milhões	Vários estados
Rede de distribuição elétrica	4.700 milhas de circuito	Indiana

Força de trabalho técnica e operacional qualificada

A Nisource emprega aproximadamente 7.300 trabalhadores com habilidades especializadas em gerenciamento de serviços públicos e infraestrutura de energia.

• Total de funcionários: 7.300
• Composição da força de trabalho: profissionais técnicos, operacionais e administrativos
• Posse média dos funcionários: 12 anos

Instalações de geração de energia

A capacidade de geração da Nisource inclui várias usinas de energia com uma capacidade total de geração de aproximadamente 1.100 megawatts.

Tipo de geração	Capacidade	Localização
Geração baseada em carvão	600 MW	Indiana
Geração de gás natural	500 MW	Vários estados

Tecnologias avançadas de medição e monitoramento

A Nisource investiu US $ 475 milhões em infraestrutura avançada de medição (AMI) e tecnologias digitais para gerenciamento de grade aprimorado.

• Implantações de medidores inteligentes: mais de 500.000 unidades
• Investimento de tecnologia: US $ 475 milhões
• Sistemas de gerenciamento de grade digital: recursos de monitoramento em tempo real

Fortes classificações de capital financeiro e crédito

A Nisource mantém recursos financeiros robustos, com uma capitalização de mercado de aproximadamente US $ 6,8 bilhões e classificações de crédito com grau de investimento.

Métrica financeira	Valor	Agência de classificação
Capitalização de mercado	US $ 6,8 bilhões	NYSE
Classificação de crédito S&P	BBB	Padrão & Pobres
Classificação de crédito da Moody	Baa2	Serviço de investidores da Moody

Nisource Inc. (NI) - Modelo de Negócios: Proposições de Valor

Serviços confiáveis ​​de distribuição de energia

A Nisource Inc. atende aproximadamente 3,5 milhões de clientes em seis estados, entregando gás natural a 2,2 milhões de clientes residenciais e comerciais. A empresa opera 35.954 milhas de transmissão de gás e oleodutos de armazenamento.

Métrica de serviço	Quantidade
Total de clientes atendidos	3,5 milhões
Clientes de distribuição de gás	2,2 milhões
Comprimento da rede de pipeline	35.954 milhas

Compromisso com transição de energia sustentável e limpa

A Nisource visa reduzir as emissões de carbono em 90% até 2030 em comparação com os níveis de 2005. A empresa comprometeu US $ 2 bilhões em investimentos em infraestrutura de energia limpa até 2026.

• Alvo de redução de emissão de carbono: 90% até 2030
• Investimento de infraestrutura de energia limpa: US $ 2 bilhões a 2026

Taxas de utilidade acessíveis para clientes residenciais e comerciais

As taxas médias de gás natural residencial para Nisource são de aproximadamente US $ 0,90 por Therm. Os clientes comerciais se beneficiam de estratégias de preços competitivos em seus territórios de serviço.

Segmento de clientes	Taxa média
Gás natural residencial	US $ 0,90 por Therm

Soluções de energia abrangentes em vários estados

A Nisource opera em Indiana, Kentucky, Maryland, Massachusetts, Ohio e Pensilvânia, fornecendo serviços diversificados de distribuição de energia.

• Estados servidos: 6
• Serviços primários: distribuição de gás natural, transmissão elétrica

Investimento consistente de infraestrutura e modernização

Em 2023, a Nisource investiu US $ 1,8 bilhão em modernização de infraestrutura e melhorias de confiabilidade do sistema. O plano de despesas de capital da empresa se concentra na resiliência da rede e atualizações tecnológicas.

Categoria de investimento	Quantia
Modernização da infraestrutura (2023)	US $ 1,8 bilhão

Nisource Inc. (NI) - Modelo de Negócios: Relacionamentos do Cliente

Canais de suporte direto ao cliente

A Nisource opera o suporte ao atendimento ao cliente por meio de vários canais:

Tipo de canal	Método de contato	Volume de contato anual
Suporte telefônico	1-800-Nisource	2,3 milhões de interações com os clientes
Chat online	Portal de suporte ao site	487.000 interações digitais
Suporte por e -mail	customercare@nisource.com	215.000 comunicações por e -mail

Plataformas de gerenciamento de contas online

As plataformas digitais fornecem gerenciamento abrangente de clientes:

• Portal da Web do Mynisource com 68% de inscrição no cliente
• Aplicativo móvel com taxa de adoção de 42%
• Rastreamento de uso de energia em tempo real
• Recursos de pagamento da conta

Programas de envolvimento da comunidade

Programa	Investimento anual	Alcance da comunidade
Oficinas de eficiência energética	US $ 1,2 milhão	23 municípios serviram
Iniciativas de sustentabilidade local	$750,000	14 áreas metropolitanas

Estratégias de comunicação proativa

Nisource implementa abordagens de comunicação multicanal:

• Notificações de interrupção de serviço automatizado
• Sistemas de alerta de e -mail e texto
• Plataformas de engajamento de clientes de mídia social

Informações de cobrança e uso de energia transparentes

Recurso de transparência de cobrança	Adoção do cliente	Acessibilidade digital
Redução detalhada da conta on -line	76% de uso do cliente	Acesso digital 24/7
Comparações de consumo de energia	62% de envolvimento do cliente	Relatórios digitais mensais

Nisource Inc. (NI) - Modelo de Negócios: Canais

Portais de atendimento ao cliente digital

A Nisource opera um portal de atendimento ao cliente on -line com 1,3 milhão de usuários registrados em seus territórios de serviço em 6 estados. A plataforma digital processa aproximadamente 78.000 transações mensais, incluindo pagamentos de contas, solicitações de serviço e gerenciamento de contas.

Métricas de Portal Digital	Estatísticas anuais
Usuários registrados	1,300,000
Transações digitais mensais	78,000
Territórios de serviço	6 estados

Interfaces de aplicativos móveis

O aplicativo móvel da Nisource suporta gerenciamento de utilidade em tempo real com 425.000 usuários mensais ativos. O aplicativo permite funções como:

• Relatórios de interrupção
• Pagamento da conta
• Rastreamento de uso de energia
• Solicitação de solicitação de serviço

Centros de atendimento ao cliente local

A Nisource mantém 42 centros de atendimento ao cliente físico em Indiana, Ohio, Pensilvânia, Massachusetts, Virgínia e Kentucky. Esses centros lidam com aproximadamente 215.000 interações pessoais de clientes anualmente.

Detalhes do centro de atendimento ao cliente	Quantidade/volume
Centros de serviço físico	42
Interações pessoais anuais	215,000
Estados com centros de serviço	6

Site e plataformas de comunicação on -line

O site corporativo da Nisource recebe 1,2 milhão de visitantes anuais com duração média da sessão de 4,7 minutos. A plataforma fornece informações abrangentes sobre serviços, cobrança, eficiência energética e iniciativas de sustentabilidade corporativa.

Equipes diretas de vendas e suporte ao cliente

A Nisource emprega 1.850 representantes de suporte e vendas de clientes em suas regiões operacionais. A equipe lida com aproximadamente 3,2 milhões de interações de clientes anualmente por meio de canais de telefone, email e comunicação direta.

Métricas da equipe de vendas e suporte	Estatísticas anuais
Representantes de suporte ao cliente	1,850
Interações anuais do cliente	3,200,000

Nisource Inc. (NI) - Modelo de negócios: segmentos de clientes

Consumidores de utilidade residencial

A Nisource atende a aproximadamente 3,2 milhões de clientes de gás natural em sete estados, incluindo Indiana, Kentucky, Maryland, Massachusetts, Ohio, Pensilvânia e Virgínia.

Estado	Número de clientes residenciais
Indiana	1,100,000
Ohio	740,000
Pensilvânia	500,000
Outros estados	860,000

Usuários de energia comercial e industrial

A Nisource fornece serviços de energia para aproximadamente 167.000 clientes comerciais e industriais em seus territórios de serviço.

• Clientes comerciais representam 42% do consumo total de energia
• Clientes industriais representam 58% do uso total de energia

Entidades municipais e governamentais

A Nisource atende a mais de 500 clientes municipais e governamentais com serviços de infraestrutura e utilidade especializados.

Tipo de cliente	Número de clientes
Governos municipais	350
Agências do governo do estado	110
Entidades do governo federal	40

Operações agrícolas e agrícolas

A Nisource fornece soluções de energia para aproximadamente 22.000 clientes agrícolas em suas regiões de serviço.

• Consumo médio anual de energia por cliente agrícola: 85.000 pés cúbicos de gás natural
• Estados agrícolas primários: Indiana, Ohio, Pensilvânia

Pequenas e médias empresas

A Nisource suporta cerca de 95.000 clientes comerciais pequenos e médios, com soluções de energia personalizadas.

Categoria de tamanho de negócios	Número de clientes
Pequenas empresas (1-50 funcionários)	72,000
Empresas médias (51-250 funcionários)	23,000

Nisource Inc. (NI) - Modelo de negócios: estrutura de custos

Despesas de manutenção de infraestrutura

A Nisource Inc. relatou despesas de manutenção de infraestrutura de US $ 1,16 bilhão em 2022, com investimentos projetados de aproximadamente US $ 2,1 bilhões para atualizações de infraestrutura de 2023-2024.

Categoria de infraestrutura	Custo de manutenção anual
Infraestrutura de distribuição de gás natural	US $ 678 milhões
Infraestrutura de transmissão elétrica	US $ 482 milhões

Custos de aquisição de energia

Os custos de aquisição de energia da Nisource para 2022 totalizaram US $ 3,47 bilhões, com um colapso em diferentes segmentos de energia.

Segmento de compras de energia	Custo anual de compras
Aquisição de gás natural	US $ 2,13 bilhões
Compras de geração elétrica	US $ 1,34 bilhão

Investimentos de conformidade regulatória

A Nisource alocou US $ 215 milhões para investimentos regulatórios de conformidade em 2022.

• Conformidade ambiental: US $ 89 milhões
• Investimentos regulatórios de segurança: US $ 72 milhões
• Sistemas de conformidade de tecnologia: US $ 54 milhões

Compensação e benefícios dos funcionários

A compensação total dos funcionários e os benefícios para a Nisource em 2022 totalizaram US $ 536 milhões.

Categoria de compensação	Custo anual
Salário base	US $ 312 milhões
Benefícios e seguro	US $ 124 milhões
Contribuições de aposentadoria e pensão	US $ 100 milhões

Investimentos de tecnologia e atualização de tecnologia

A Nisource investiu US $ 287 milhões em atualizações de tecnologia e sistema durante 2022.

• Atualizações de infraestrutura digital: US $ 112 milhões
• Aprimoramentos de segurança cibernética: US $ 85 milhões
• Sistemas de tecnologia operacional: US $ 90 milhões

Nisource Inc. (NI) - Modelo de negócios: fluxos de receita

Taxas de serviço de utilidade residencial

A Nisource Inc. relatou receitas de serviço de utilidade residencial de US $ 2,85 bilhões em 2022. A empresa atende a aproximadamente 3,2 milhões de clientes residenciais em seis estados.

Estado	Clientes residenciais	Conta mensal média
Indiana	1,1 milhão	$124.50
Ohio	750,000	$112.75
Massachusetts	320,000	$138.25

Cobras de distribuição de energia comercial

As receitas de distribuição de energia comercial totalizaram US $ 1,47 bilhão em 2022, com uma base de clientes diversificada em vários setores do setor.

• Setor de manufatura: US $ 620 milhões
• Imóveis comerciais: US $ 410 milhões
• Clientes institucionais: US $ 280 milhões
• Segmento de pequenas empresas: US $ 160 milhões

Investimentos de projeto de energia renovável

A Nisource investiu US $ 425 milhões em projetos de energia renovável em 2022, gerando aproximadamente US $ 87 milhões em receita direta.

Tipo de energia renovável	Investimento	Receita anual projetada
Projetos solares	US $ 245 milhões	US $ 52 milhões
Energia eólica	US $ 180 milhões	US $ 35 milhões

Receitas do Programa de Eficiência Energética

Os programas de eficiência energética geraram US $ 96 milhões em receita para o NISource em 2022, com incentivos do governo apoiando essas iniciativas.

• Programas de eficiência energética residencial: US $ 45 milhões
• Gerenciamento de energia comercial: US $ 38 milhões
• Soluções de eficiência industrial: US $ 13 milhões

Contratos de desenvolvimento de infraestrutura

Os contratos de desenvolvimento e modernização de desenvolvimento de infraestrutura contribuíram com US $ 312 milhões para o fluxo de receita da Nisource em 2022.

Tipo de contrato	Valor total do contrato	Receita anual
Atualizações de infraestrutura a gás	US $ 215 milhões	US $ 132 milhões
Modernização da grade elétrica	US $ 180 milhões	US $ 98 milhões
Melhorias de segurança de pipeline	US $ 92 milhões	US $ 82 milhões

NiSource Inc. (NI) - Canvas Business Model: Value Propositions

Reliable and Safe Energy: Core promise of uninterrupted natural gas and electric service.

NiSource Inc. maintains its commitment to safety and reliability through specific operational benchmarks and certifications. The company retained its certification for the American Petroleum Institute Recommended Practice (API RP) 1173, making it only one of two utilities in the world with this conformance certification. Furthermore, NiSource is leveraging technology to enhance field operations; as of Q2 2025, AI-driven solutions improved field productivity by 24%, which translates to 83,000 incremental work hours. The company also uses software to assess gas distribution lines and other assets across water bodies to proactively prepare for weather-related events that may impact service.

Decarbonization Leadership: Targeting 90% GHG reduction by 2030 and net-zero electric by 2040.

NiSource Inc. is advancing toward its goal of achieving net zero greenhouse gas (GHG) emissions from its operations by 2040. As of the end of 2024, the company had reduced Scope 1 GHG emissions by approximately 72% from 2005 levels. This progress keeps NiSource on track to meet the interim target of a 90% reduction of Scope 1 GHG emissions by 2030 from 2005 levels. The electric generation transition plan supports the retirement of all coal operations by 2028.

Customer Affordability: Passing through $1 billion in bill savings from GenCo data center projects.

Through the Indiana Utility Regulatory Commission (IURC)-approved GenCo structure, NiSource Inc. is isolating the cost of new large-load growth from existing customers. The initial agreement with a large data center customer is expected to generate approximately $1 billion in cost savings for current NIPSCO customers. These savings are structured to be returned as credits on monthly electric bills over a 15-year period. For residential customers specifically, this translates to roughly $7 in monthly savings.

Modernized Service: Smart meter technology deployed to 85% of the customer base.

NiSource Inc. is modernizing service through the deployment of Advanced Metering Infrastructure (AMI) technology across its NIPSCO service area. The electric AMI mass deployment, which began in May 2024, covers 490,000 electric meters and is expected to extend through 2027. For the gas system, approximately 870,000 meters are eligible for an AMI communications module upgrade, with exchanges expected to run from July 2024 through the end of 2026.

Economic Development Capacity: Providing large-scale power for new industrial and data center loads.

The GenCo structure is designed to attract major investment by providing dedicated generation capacity for large customers like data centers. The first major partnership is set to provide up to 3 gigawatts (GW) of new generation capacity for data center campuses. This infrastructure investment is nearly $7 billion. The total consolidated capital expenditure plan announced by NiSource Inc. is $28.0 billion, which includes approximately $7.0 billion specifically for strategic data center investments. For comparison, NIPSCO expects its non-data center load in 2028 to be about 2.3 GW.

Here are the key quantitative metrics supporting these Value Propositions as of late 2025:

Value Proposition Metric	Target/Scope/Status	Associated Financial/Statistical Number
GHG Reduction from 2005 Levels (Scope 1)	As of End of 2024	72% Reduction
GHG Reduction Target (Scope 1)	By 2030	90% Reduction
Net Zero GHG Emissions Goal (Scope 1 & 2)	By Year	2040
Coal Fleet Retirement Completion	By Year	2028
Customer Bill Savings from GenCo Deal	Total Expected Over Contract Life	$1 billion
Monthly Bill Savings for Residential Customers	Average Credit	Roughly $7
Electric AMI Deployment Scope	Total Meters in Mass Deployment	490,000 meters
Gas AMI Deployment Scope	Total Meters Eligible for Upgrade	Approximately 870,000 meters
New Generation Capacity for Data Centers	Up To	3 gigawatts (GW)
Data Center Infrastructure Investment (GenCo)	Total Expected Investment	Nearly $7 billion
Total Consolidated Capital Expenditure Plan	Through 2033	$28.0 billion, inclusive of ~$7.0 billion for data centers

The commitment to operational excellence is also shown by AI-driven solutions improving field productivity by 24%, equating to 83,000 incremental work hours as of Q2 2025.

NiSource Inc. (NI) - Canvas Business Model: Customer Relationships

You're looking at how NiSource Inc. manages the connection with the millions of people and businesses relying on their gas and electric service across the Midwest and Mid-Atlantic. It's a relationship defined by regulation, but increasingly driven by digital tools.

Direct, Regulated Service: Non-competitive, long-term relationship managed by state commissions.

The core relationship is non-competitive because NiSource Inc. operates as a fully regulated utility. This means state commissions set the rules and rates, creating a long-term, essential service bond with customers. As of late 2025, NiSource Inc. serves approximately 3.3 million natural gas customers and 500,000 electric customers across six states: Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia.

This regulated structure underpins the investment strategy, with NiSource Inc. planning for approximately $20 billion in regulated utility infrastructure investment opportunities spanning the next five years.

Digital Self-Service: Encouraging use of mobile apps and website for billing and requests.

NiSource Inc. is heavily pushing digital adoption to make doing business easier. This focus paid off, as its subsidiaries were named among the easiest to do business with in Escalent's 2025 Cogent Syndicated Utility Trusted Brand & Customer Engagement: Residential study. The Customer Effort Score (CES) reflects this success:

Subsidiary/Region	Customer Effort Score (2025)
Columbia Gas of Virginia (South Region)	780
NIPSCO (Midwest Region)	770

The company uses AI-powered chatbots to enhance customer relationships, enabling 24x7 customer service and personalized support, with the ability to complete 4 distinct transactions directly within the chat interface. Honestly, customers expect this level of digital access now.

Proactive Communication: Real-time outage and service updates via text, email, and chat.

To keep customers informed, NiSource Inc. engages through multichannel, real-time communication options. They focus on connecting customers with updates via text, email, and chat. This commitment to communication helped NiSource Inc. and its operating companies exceed their customer satisfaction survey goal in 2024, which measures satisfaction across various interactions, including the MyAccount website and mobile app use.

Key communication and service touchpoints include:

• Top-ranked websites and mobile apps.
• Live or automated chat support.
• Bill payment options and assistance programs.

Energy Efficiency Programs: Annual investment of around $42 million to help customers save.

NiSource Inc. continues to support customer savings through energy efficiency initiatives, which are often recovered through regulator-approved alternative revenue programs. The planned annual investment level to support these customer programs is around $42 million. In 2023, nearly 600,000 customers participated in these programs, saving them more than $7 million on their energy bills.

Dedicated Account Management: For large commercial and industrial customers.

The Gas Distribution Operations segment serves residential, commercial, and industrial customers across its service territory. While specific account manager headcounts aren't public, the structure dedicates resources to these larger users, who are a significant portion of the company's revenue base. The company is also navigating new, large-scale customer relationships, such as the agreement with Amazon for a data center campus, which involves nearly $7.0 billion in capital investment related to data centers within the consolidated capital expenditure plan.

Finance: draft 13-week cash view by Friday.

NiSource Inc. (NI) - Canvas Business Model: Channels

You're looking at how NiSource Inc. gets its energy-gas and electricity-to its customers, which is a massive physical and digital undertaking across six states. The channels here are less about selling a product and more about reliable, regulated delivery and service access.

Physical Infrastructure: Gas pipelines and electric transmission/distribution lines

The core channel is the physical network itself. NiSource operates as one of the largest natural gas utility companies, delivering gas to approximately 3.3 million customers across its Columbia Gas and NIPSCO brands in six states. Additionally, the NIPSCO segment provides electric distribution, generation, and transmission services to nearly 500,000 electric customers in northern Indiana.

The scale of the gas network is significant. As of the end of 2024, NIPSCO Gas alone operated approximately 17,900 miles of distribution main pipeline and the associated customer service lines, plus 690 miles of transmission main pipeline in its service areas. Across all operations, the company distributes natural gas through approximately 55,000 miles of distribution main pipeline and about 1,000 miles of transmission main pipeline.

This infrastructure is the subject of heavy capital deployment. NiSource expects to make capital investments totaling approximately $19.4 billion during the 2025-2029 period, and the extended base plan through 2030 calls for $21.0 billion in base plan capital expenditures. This investment is aimed at systematic modernization and replacement of utility infrastructure.

Infrastructure Component	Metric Detail	Latest Available Figure
Total Natural Gas Customers Served	Across six states (Columbia Gas & NIPSCO)	Approximately 3.3 million
Total Electric Customers Served	NIPSCO segment only	Approximately 500,000
Total Natural Gas Distribution Main Pipeline	Across all operating companies	Approximately 55,000 miles
NIPSCO Gas Distribution Main Pipeline	Northern Indiana only (as of 12/31/2024)	Approximately 17,900 miles
Planned Capital Investment	2025-2029 period	Approximately $19.4 billion

Digital Platforms: Company website and mobile applications for self-service

You access a lot of service functions digitally now, which is a key channel for efficiency. NiSource is definitely leaning into this; they even won the SAP Innovation Award in 2024 for using digitization to serve customers. The company continually enhances its websites and mobile apps for self-service options like bill payment and program enrollment.

The focus on digital ease is measurable. In the 2025 Cogent Syndicated Utility Trusted Brand & Customer Engagement: Residential study, NiSource companies were recognized as 'easiest to do business with.' For example, NIPSCO scored a 770 on the Customer Effort Score in the Midwest Region, and Columbia Gas of Virginia scored 780 in the South Region. These scores reflect user-friendliness of online tools and accessibility of information.

• Website access for reviewing Q3 2025 financial results conference call replay.
• Ongoing deployment of Advanced Metering Infrastructure (AMI) system upgrades across the NIPSCO service area.
• Use of data and analytics through artificial intelligence in upgraded work and asset management systems.

Customer Contact Centers: Traditional call centers for service inquiries and emergencies

When digital channels don't cut it, the traditional call center remains a vital connection point. While specific 2025 call volume metrics aren't public, the commitment to service is evident in the overall customer satisfaction rankings. The company supports customer care agents for live or automated chat interactions as part of its service enhancements.

For investor relations, the company hosts conference calls to discuss performance, such as the one for third quarter 2025 results on October 29, 2025, at 11 a.m. EDT, with a dedicated replay line available: +1 (800) 770-2030, conference ID 5571489. This shows the structured process for high-level communication.

Field Operations: Technicians and crews for maintenance, meter reading, and emergency response

Field operations are the boots-on-the-ground channel, essential for maintenance and emergency response, which is tied directly to safety performance. NiSource has approximately 7,700 valued employees focused on delivering energy safely. The company's strategy includes using technology to raise productivity and efficiency across the dispatch of its operations team.

In 2024, NiSource added 21,000 new customers, requiring field deployment for service connections and infrastructure checks. The company is focused on maintaining industry-leading safety and performance, which is a key component of its value proposition to stakeholders.

Here's a look at the scale of the workforce and financial commitment to the field:

Operational Metric	Period/Scope	Value
Total Employees	As of early 2025	Approximately 7,700
2024 Infrastructure Investment	System growth, maintenance, generation transition	$1.5 billion (reported for 2024 infrastructure modernization)
2024 Total Capital Expenditures	All capital spending	$3.7 billion
2024 New Customers Added	Total across segments	21,000

Finance: draft 13-week cash view by Friday.

NiSource Inc. (NI) - Canvas Business Model: Customer Segments

You're looking at the core of NiSource Inc.'s operations, which centers on serving distinct energy needs across its regulated footprint. The customer base is segmented to manage service delivery, regulatory strategy, and capital investment effectively.

Residential Customers represent the bedrock of the utility business, demanding consistent and reliable natural gas and electric service across the six states where NiSource operates through its Columbia Gas and NIPSCO brands. As of late 2025, the scale of this segment is quite clear.

Customer Type	Service Provided	Approximate Account Count (Late 2025)
Natural Gas	Distribution	3.3 million customers
Electric	Distribution, Generation, Transmission	Approximately 500,000 customers

For NIPSCO specifically, which handles the electric utility operations in northern Indiana, you are looking at about 500,000 electric customers.

Commercial Customers are the businesses that require medium-scale energy supply to run their daily operations. This group relies on NiSource Inc. for dependable service to support local economies in the service territories.

Industrial Customers are the large-scale manufacturers and heavy users of both natural gas and electricity. For instance, in 2024, Columbia Operations saw total sales and transportation volumes increase, primarily due to higher industrial usage. This segment's demand profiles are crucial for load forecasting.

The Strategic Large-Load Customers segment is a newer, high-growth focus, specifically targeting major economic projects like data centers. This is where NiSource Inc. is making significant directed capital plays, primarily through its NIPSCO subsidiary and the newly approved GenCo entity, which is designed to serve these loads flexibly while shielding existing retail customers from capacity expansion costs.

Here are the concrete figures tied to this strategic focus area as of late 2025:

• GenCo Strategy: Approved by the IURC to own, build, and manage generation assets for the data center industry.
• Investment Plan: NiSource announced a $7 billion plan specifically to power data center growth in northern Indiana.
• Contract Value: One major data center contract is estimated to represent approximately $6 billion to $7 billion in capital investment.
• Capacity Commitment: The contract involves a capacity commitment starting in 2027, increasing annually through 2032, potentially reaching 2,400 MW by 2032.
• New Generation: The investment includes construction of two 1,300-megawatt combined-cycle, natural gas-fired turbines and 400 megawatts of battery storage.

This new segment is supported by a consolidated capital expenditure plan of $28.0 billion over five years, with the data center component being a major driver.

NiSource Inc. (NI) - Canvas Business Model: Cost Structure

You're looking at the major expenses driving NiSource Inc.'s operations as of late 2025. For a regulated utility, the cost structure is heavily weighted toward long-term asset investment and the associated financing costs.

Capital Expenditures (CapEx)

NiSource Inc. has a massive, multi-year investment plan driving significant cash outflows. The company extended its base capital plan to cover the period through 2030, totaling $28.0 billion. This new consolidated plan is a substantial increase over prior projections. A major driver for this elevated CapEx is the strategic investment in infrastructure to support data center development, which accounts for nearly $7.0 billion of the total. The base plan capital expenditures specifically projected for 2026 to 2030 amount to $21.0 billion. This heavy investment is necessary to modernize the grid and gas infrastructure for safety, reliability, and future load growth.

Fuel and Purchased Power

Fuel and purchased power represent a significant variable cost, especially for the electric generation side of the business, though much of this is a pass-through cost to customers. For the Columbia Operations segment specifically, the cost of energy for the three months ended September 30, 2025, was $379.8 million. It's important to note that for NIPSCO's electric operations, the planned retirement of Units 17 and 18 at the R.M. Schahfer Generating Station by the end of 2025 is projected to result in an approximate cost reduction of $70 million from eliminated fuel and purchase power costs. For gas distribution, the cost of natural gas is passed through dollar-for-dollar to customers via approved recovery mechanisms.

Operating and Maintenance (O&M)

Operating and Maintenance (O&M) costs cover the day-to-day running of the systems, including ensuring system integrity, safety compliance, and personnel expenses. For the Columbia Operations segment, O&M expenses for the three months ended September 30, 2025, were $243.0 million. Like fuel costs, certain O&M components are subject to regulatory trackers, meaning fluctuations can be offset by adjustments in future customer billings.

Interest Expense

Given the high capital requirements, NiSource Inc. relies on debt financing, leading to substantial interest expense. The company is characterized by high leverage, with a stated debt-to-equity ratio of 1.77 as of late 2025, although the ratio for the quarter ending September 30, 2025, was reported as 1.729. For the three months ended September 30, 2025, the reported interest expense, net, was $132.8 million (reported as $(132.8) million in the income statement line item). Managing the cost of this debt is critical, especially in an environment where refinancing or issuing new bonds is necessary to fund ongoing infrastructure programs.

Depreciation and Amortization

Depreciation and Amortization (D&A) is a non-cash expense that directly reflects the size and age of the utility's asset base, which is growing due to the massive CapEx program. For the three months ended March 31, 2025, Depreciation and amortization expense for the Columbia Operations segment was $108.2 million. The overall D&A expense is tied to the gross property, plant, and equipment (PPE), which is projected to grow significantly as the $28.0 billion capital plan is executed.

Here is a snapshot of some key cost components based on recent reporting periods:

Cost Component	Period/Scope	Amount (in millions USD)
Capital Expenditures (Plan through 2030)	Total Consolidated	$28,000.0
Interest Expense, Net	Three Months Ended September 30, 2025	$132.8
Cost of Energy (Fuel/Purchased Power)	Columbia Operations - Three Months Ended September 30, 2025	$379.8
Operating and Maintenance (O&M)	Columbia Operations - Three Months Ended September 30, 2025	$243.0
Depreciation and Amortization	Columbia Operations - Three Months Ended March 31, 2025	$108.2

You should keep an eye on how the regulatory recovery mechanisms are tracking against these large fixed and variable costs. If onboarding for new projects takes longer than planned, the depreciation expense will start before the associated rate base growth is fully realized in revenue.

• Debt-to-Equity Ratio (Target/Reported): 1.77 / 1.729 (as of Q3 2025)
• Projected Base CapEx (2026-2030): $21.0 billion
• Data Center Investment within Total CapEx: Nearly $7.0 billion
• Projected Customer Growth Rate (Rate Base 2026-2030): 8% to 10% annually

Finance: draft 13-week cash view by Friday.

NiSource Inc. (NI) - Canvas Business Model: Revenue Streams

You're looking at how NiSource Inc. brings in its money as of late 2025, which is heavily anchored in regulated utility service across its footprint. The core of the business is collecting revenue through rates approved by regulators, which provides a good degree of stability, even if growth is managed by regulatory cycles.

The Trailing Twelve Months (TTM) revenue figure gives you the big picture of the company's scale leading up to the latest reports. The most recent TTM revenue reported as of Q3 2025 shows significant growth compared to the prior year.

Metric	Amount
Trailing Twelve Months Revenue (as of Q3 2025)	$6.33 billion
Q3 2025 Total Operating Revenue	$1,273.1 million

Regulated Natural Gas Sales is a primary component, covering revenue recovered through approved rates in six states. NiSource Inc. serves approximately 3.5 million natural gas customers through its Columbia Gas brands across states like Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. The revenue from these sales is directly tied to the volume of gas delivered and the approved cost recovery mechanisms in those jurisdictions.

Regulated Electric Sales come from the NIPSCO Operations segment, which handles generation, transmission, and distribution primarily in northern Indiana. This segment serves about 500,000 electric customers. Revenue here is also subject to Indiana Utility Regulatory Commission (IURC) approvals, which recently included a favorable electric rate case approval that is expected to positively influence performance.

You're seeing a new, emerging revenue component from Fixed-Rate Contracts, specifically tied to the GenCo strategy involving regulated data center assets. While the major capacity commitment for a large data center contract starts in 2027, the development is already factored into forward guidance. For 2026, management initiated consolidated Adjusted EPS guidance that includes $0.01 to $0.02 per share coming directly from these Genco-related assets.

Revenue from Wholesale and Transmission involves transactions that occur outside of the core regulated retail sales to end-users. While this is a standard utility revenue component, specific dollar amounts for these transactions outside of the main regulated segments aren't explicitly broken out in the high-level summaries you're seeing. Still, the overall revenue growth in Q3 2025 was driven by higher customer revenues and other revenues, suggesting activity across all streams.

Here's a quick look at the drivers influencing recent revenue changes:

• New rates from base rate proceedings contributed $24.8 million to the change in operating revenues for the three months ended June 30, 2025, versus 2024.
• The Q3 2025 revenue of $1.27 billion was above the consensus estimate of $983.25 million.
• The TTM revenue growth of 19.62% year-over-year as of Q3 2025 is a strong indicator of recent performance.
• NiSource Inc. is reaffirming its 2025 non-GAAP adjusted EPS guidance in the upper half of the $1.85 to $1.89 range.

The company's customer base is also a direct input to these revenue streams, showing modest growth. For example, in Q2 2025, there was a 1% increase in the electric business and a 0.6% rise in the gas business customer base.