# NISOURCE INC.

Summary updated: 2026-10-03T21:44:02.588008Z
Canonical: https://finbar.com/research/companies/nisource-inc

## Overview

NiSource Inc. is a U.S. regulated energy utility holding company. Its businesses distribute natural gas through Columbia Gas utilities in Kentucky, Maryland, Ohio, Pennsylvania and Virginia, and provide regulated natural-gas and electric service through NIPSCO in northern Indiana. Its core services are energy delivery to residential, commercial and industrial customers. [1](https://app.finbar.com/go?id=P89451677)[2](https://app.finbar.com/go?id=P89661069)[3](https://www.nisource.com/customers/where-we-serve)

NiSource serves nearly 4 million natural-gas and electric customers across six states and has about 7,700 employees. [4](https://www.nisource.com/company) For the six months ended June 30, 2026, it reported consolidated operating revenue of $3.706 billion. [5](https://app.finbar.com/go?id=T16735152) The company states its mission is to deliver safe, reliable energy that drives value for customers. [6](https://www.nisource.com/docs/librariesprovider2/nisource-documents/nisource-policies/nisource-code-of-business.pdf?sfvrsn=6d89352_93)
[1](https://app.finbar.com/go?id=P89451677)[2](https://app.finbar.com/go?id=P89661069)[5](https://app.finbar.com/go?id=T16735152)[3](https://www.nisource.com/customers/where-we-serve)[4](https://www.nisource.com/company)[6](https://www.nisource.com/docs/librariesprovider2/nisource-documents/nisource-policies/nisource-code-of-business.pdf?sfvrsn=6d89352_93)

## Products & services

NiSource’s regulated utility offerings include natural-gas distribution and transportation, and electricity generation and power delivery. Its Columbia Gas utilities provide gas service in Kentucky, Maryland, Ohio, Pennsylvania and Virginia; NIPSCO provides gas and electric service in northern Indiana. Gas services include transportation and balancing on utility distribution systems, while customer programs include energy-efficiency upgrades, home checkups and weatherization. [2](https://app.finbar.com/go?id=P89661069)[7](https://app.finbar.com/go?id=P100473822)[8](https://app.finbar.com/go?id=P69420587)

NIPSCO’s electricity portfolio includes coal, combined-cycle and other natural-gas generation, hydro, wind, solar, and solar-and-storage facilities; its listed generating facilities total 3,967 MW. Named facilities include Sugar Creek (665 MW, combined-cycle gas turbine), Rosewater (102 MW, wind), Indiana Crossroads Wind (302 MW), Dunns Bridge I (265 MW, solar) and Indiana Crossroads Solar (200 MW). [9](https://app.finbar.com/go?id=T4644610)

For the six months ended June 30, 2026, customer revenue was $2,552.4 million from gas distribution and $1,059.4 million from electric generation and power delivery, approximately 70.7% and 29.3%, respectively, of customer revenue for those categories combined. [10](https://app.finbar.com/go?id=T16735118)
[2](https://app.finbar.com/go?id=P89661069)[7](https://app.finbar.com/go?id=P100473822)[8](https://app.finbar.com/go?id=P69420587)[9](https://app.finbar.com/go?id=T4644610)[10](https://app.finbar.com/go?id=T16735118)

## Geographic presence

NiSource’s utility operations are located entirely in the United States and span six states: Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia. NIPSCO serves northern Indiana; Columbia Gas operates in the other five states. The company serves about 3.8 million customers across this footprint. [2](https://app.finbar.com/go?id=P89661069)[11](https://app.finbar.com/go?id=T9656118)[3](https://www.nisource.com/customers/where-we-serve)

NiSource’s principal executive offices are in Merrillville, Indiana. Its filings report revenue by operating segment—Columbia Operations and NIPSCO Operations—rather than provide a state-by-state revenue allocation. The company reports approximately 7,700 employees, but a geographic breakdown of employees was not located. [12](https://app.finbar.com/go?id=T16735101)[13](https://app.finbar.com/go?id=T9420881)[4](https://www.nisource.com/company)
[2](https://app.finbar.com/go?id=P89661069)[11](https://app.finbar.com/go?id=T9656118)[12](https://app.finbar.com/go?id=T16735101)[13](https://app.finbar.com/go?id=T9420881)[3](https://www.nisource.com/customers/where-we-serve)[4](https://www.nisource.com/company)

## Business segments

NiSource’s current reportable segments are **Columbia Operations** and **NIPSCO Operations**. Columbia Operations comprises regulated natural-gas distribution and transportation serving residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. NIPSCO Operations comprises regulated natural-gas and electric operations in northern Indiana. [14](https://app.finbar.com/go?id=P146238725)[15](https://app.finbar.com/go?id=P146239060)

For the six months ended June 30, 2026, Columbia Operations generated approximately **51.9%** of the two segments’ external revenue ($1,920.2 million of $3,702.6 million), while NIPSCO Operations generated approximately **48.1%** ($1,782.4 million). For full-year 2025, their approximate shares were **50.2%** ($3,330.0 million) and **49.8%** ($3,307.4 million), respectively. These percentages use external segment revenue as the denominator and exclude intersegment revenue. [16](https://app.finbar.com/go?id=T16735141)[13](https://app.finbar.com/go?id=T9420881)[17](https://app.finbar.com/go?id=P146238969)

The current segment structure took effect in 2024, replacing the former Gas Distribution Operations and Electric Operations reporting segments; historical results were recast to the current structure. NIPSCO Operations therefore includes both gas and electric activities, rather than representing only the former electric segment. [18](https://app.finbar.com/go?id=P95418737)
[14](https://app.finbar.com/go?id=P146238725)[15](https://app.finbar.com/go?id=P146239060)[16](https://app.finbar.com/go?id=T16735141)[13](https://app.finbar.com/go?id=T9420881)[17](https://app.finbar.com/go?id=P146238969)[18](https://app.finbar.com/go?id=P95418737)

## Company history

NiSource’s corporate history brings together two utility lineages: Columbia’s predecessor companies date to 1906, with the company renamed Columbia Gas System Inc. in 1948, while Northern Indiana Public Service Company (NIPSCO) was formed in 1912 [19](https://www.nisource.com/company/history).

The company that became NiSource was organized in 1987 as NIPSCO Industries, Inc., and adopted the NiSource Inc. name in 1999 [20](https://app.finbar.com/go?id=P78298439). In 1999, NIPSCO Industries completed its merger with Bay State Gas, and in 2000 NiSource merged with Columbia Energy Group, combining the Columbia businesses with its existing operations [21](https://www.naturalgasintel.com/news/nipsco-bay-state-gas-merger-cleared-at-last/)[19](https://www.nisource.com/company/history). In 2015, NiSource separated Columbia Pipeline Group in a spin-off, leaving the utility businesses under NiSource [19](https://www.nisource.com/company/history)[22](https://www.nisource.com/docs/librariesprovider2/nisource-documents/2015-nisource-annual-report-to-shareholders.pdf?sfvrsn=29).
[20](https://app.finbar.com/go?id=P78298439)[19](https://www.nisource.com/company/history)[21](https://www.naturalgasintel.com/news/nipsco-bay-state-gas-merger-cleared-at-last/)[22](https://www.nisource.com/docs/librariesprovider2/nisource-documents/2015-nisource-annual-report-to-shareholders.pdf?sfvrsn=29)

## Sources

1. [NISOURCE INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P89451677)
2. [NISOURCE INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P89661069)
3. [www.nisource.com](https://www.nisource.com/customers/where-we-serve)
4. [www.nisource.com](https://www.nisource.com/company)
5. [NISOURCE INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16735152)
6. [www.nisource.com](https://www.nisource.com/docs/librariesprovider2/nisource-documents/nisource-policies/nisource-code-of-business.pdf?sfvrsn=6d89352_93)
7. [NISOURCE INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P100473822)
8. [NISOURCE INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P69420587)
9. [NISOURCE INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T4644610)
10. [NISOURCE INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16735118)
11. [NISOURCE INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T9656118)
12. [NISOURCE INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16735101)
13. [NISOURCE INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T9420881)
14. [NISOURCE INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P146238725)
15. [NISOURCE INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P146239060)
16. [NISOURCE INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16735141)
17. [NISOURCE INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P146238969)
18. [NISOURCE INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P95418737)
19. [www.nisource.com](https://www.nisource.com/company/history)
20. [NISOURCE INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P78298439)
21. [www.naturalgasintel.com](https://www.naturalgasintel.com/news/nipsco-bay-state-gas-merger-cleared-at-last/)
22. [www.nisource.com](https://www.nisource.com/docs/librariesprovider2/nisource-documents/2015-nisource-annual-report-to-shareholders.pdf?sfvrsn=29)

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