What is NiSource?
Regulated natural gas and electric utility holding company with 2026 adjusted EPS guidance of $2.02 to $2.07 and expanded 2026-2033 growth outlook, headquartered in Merrillville, IN.
- Category
- Regulated natural gas and electric utility holding company
- Headquarters
- Merrillville, IN
- Founded
- 1912
- Employees
- Approximately 7,000+
- Total funding
- Public company; no VC funding
- Status
- Public company; NYSE: NI
What is NiSource?
NiSource is a public regulated natural gas and electric utility holding company headquartered in Merrillville, IN. As of June 2026, its public-company scale signals include 2026 adjusted EPS guidance of $2.02 to $2.07 and expanded 2026-2033 growth outlook, about 3.3 million natural gas and 500,000 electric customers, and Indiana electric and multi-state gas utility footprint.
NiSource is a mature public company, not a venture-backed startup. Its latest public reporting and investor materials show 2026 adjusted EPS guidance of $2.02 to $2.07 and expanded 2026-2033 growth outlook, Approximately 7,000+ employees, about 3.3 million natural gas and 500,000 electric customers, and operations across Indiana electric and multi-state gas utility footprint. The company operates as a regulated utility infrastructure platform, so performance depends on reliability, safety, regulated returns or route density, capital execution, customer satisfaction, and disciplined procurement.
The operating footprint includes Natural gas distribution, NIPSCO electric utility, Electric generation transition, Gas system modernization, Data center infrastructure, and related programs that require long-term capital planning rather than short product cycles. Buyers evaluate vendors through the lens of service reliability, rate or margin impact, compliance, cyber risk, integration with field systems, and the ability to deliver without disrupting critical operations.
For B2B sellers, NiSource should be treated as a multi-threaded enterprise account. Strong pitches attach to measurable outcomes such as uptime, field productivity, safety, customer experience, energy or water efficiency, fleet utilization, regulatory compliance, storm or route response, and lower cost to serve.
What does NiSource offer?
NiSource offers Natural gas distribution, NIPSCO electric utility, Electric generation transition, Gas system modernization, Data center infrastructure, Transmission and distribution and related customer, infrastructure, and operating programs.
- Natural gas distribution· Core offering
- NIPSCO electric utility· Core offering
- Electric generation transition· Core offering
- Gas system modernization· Core offering
- Data center infrastructure· Adjacent offering
- Transmission and distribution· Adjacent offering
- Customer safety programs· Adjacent offering
- Energy efficiency· Adjacent offering
How does NiSource make money?
NiSource makes money through regulated rates, long-lived infrastructure, customer charges, contracted services, and capital programs tied to its regulated natural gas and electric utility holding company footprint.
NiSource's business model is not SaaS pricing; there are no public per-seat tiers. Revenue is generated through tariffs, regulated rates, approved riders, customer bills, long-term contracts, commodity pass-throughs, municipal or commercial service agreements, or route and asset economics depending on the business line.
The main economic drivers are customer growth, allowed returns or pricing discipline, rate-base or asset growth, operating reliability, safety performance, storm or claims exposure, labor productivity, fuel and commodity costs, interest rates, and capital execution. Its current investment anchor is approximately $28B 2026-2030 consolidated capital plan including data-center infrastructure, which shapes procurement cycles and project funding.
Growth depends on practical operating levers: modernized infrastructure, better outage or route performance, faster interconnection or customer service, tighter asset management, cleaner data, stronger cybersecurity, and lower lifecycle cost. Vendors should quantify the operating metric they improve and expect business-owner, finance, procurement, legal, security, and technical review.
Who leads NiSource?
NiSource is led by Lloyd Yates, President and Chief Executive Officer, with finance, operations, legal, technology, and business-unit leaders shaping major buying decisions.
- Lloyd YatesPresident and Chief Executive OfficerCEO since 2022Leads NiSource growth, safety, utility modernization, and data-center infrastructure strategy.
- Shawn AndersonExecutive Vice President and Chief Financial OfficerCFO since 2024Leads finance, treasury, investor relations, and capital planning.
- Melanie BermanSenior Vice President and Chief Human Resources OfficerPeople leaderLeads workforce, culture, and HR strategy.
- Mike HooperPresident and Chief Operating Officer, NIPSCOUtility presidentLeads Indiana gas and electric utility operations.
How do you contact NiSource's leadership?
NiSource publishes investor-relations, media, supplier, customer, or corporate contact routes, but it does not publish verified personal executive email addresses for the leaders below. Use official company contact channels and do not treat inferred personal email patterns as verified.
No verified public personal-executive email format; use official investor, media, supplier, or company contact routes- Shawn AndersonExecutive Vice President and Chief Financial OfficerUse official company contact route
- Melanie BermanSenior Vice President and Chief Human Resources OfficerUse official company contact route
How much funding has NiSource raised?
NiSource is a mature public company (NYSE: NI), so its capital profile is public equity, debt, operating cash flow, regulated or asset-backed investment, and acquisitions rather than venture funding rounds.
NiSource has no current VC-style funding history to enumerate. The relevant capital history is its founding in 1912, public-company status as NYSE: NI, operating cash flow, public debt and equity access, dividends, capital spending, and portfolio transactions.
As of June 2026, the strongest capital signal is 2026 adjusted EPS guidance of $2.02 to $2.07 and expanded 2026-2033 growth outlook. The most useful forward-looking budget signal is approximately $28B 2026-2030 consolidated capital plan including data-center infrastructure; for sellers, that is more actionable than a private valuation because spend is approved through annual plans, regulatory filings, procurement controls, cyber review, and business-unit ROI.
Seller signal: budget exists where the proposal maps to strategic priorities and measurable operating outcomes. The strongest opportunities connect to reliability, resilience, safety, customer experience, compliance, labor productivity, asset utilization, field execution, data quality, cybersecurity, or lower cost to serve.
How did NiSource get here?
NiSource's history is defined by utility or environmental-services roots, public-market capital access, portfolio moves, leadership transitions, and current 2025-2026 operating execution.
- 1912Northern Indiana Public Service rootsNiSource predecessor utility roots begin.
- 1987NiSource holding company formedThe company adopts its modern holding-company identity.
- 2000Columbia Energy acquisitionNiSource expands materially in natural gas distribution.
- 2022Lloyd Yates becomes CEONiSource enters current leadership era.
- 2025Capital plan extendedNiSource announces full-year 2025 results and a $28B 2026-2030 capital plan.
- 2026Growth outlook raisedNiSource raises consolidated adjusted EPS CAGR outlook through 2033.
Who are NiSource's competitors?
NiSource competes with public and private peers for customers, capital, labor, infrastructure projects, regulatory execution, technology partners, and operating performance.
- NextEra EnergyLarge regulated utility and renewables owner with Florida Power & Light scale.
- Southern CompanySoutheastern electric and gas utility with large regulated generation and grid investments.
- Duke EnergyMulti-state regulated electric and gas utility focused on grid modernization and generation transition.
- Dominion EnergyRegulated utility peer with electric, gas, and infrastructure assets.
- Xcel EnergyUpper Midwest and western utility peer with clean-energy and transmission investment programs.
NiSource — frequently asked questions
