NiSource Secures 3 GW Data Center Deals, Files $400M Rate Case
NiSource has secured 3 GW of data center contracts (including Amazon), expects up to 9 GW of future demand and filed a $400 million rate case in Pennsylvania following 2025 rate increases. Its Project Apollo targets $40–60 million in annual savings and a $28 billion 2026–2030 capex plan aiming for 9–11% rate base growth.
1. Data Center Contracts and Demand
NiSource’s GenCo unit has signed 3 GW of data center power contracts, including a 3 GW deal with Amazon, and is negotiating an additional 3 GW while expecting total demand to reach 9 GW. These agreements support load growth and will improve utilization of new assets in Indiana.
2. Regulatory Developments and Rate Case
Following the implementation of new electric and gas rates in 2025, NiSource’s Pennsylvania segment filed a rate case seeking over $400 million to fund infrastructure investments aimed at enhancing service reliability and supporting customer demand through 2033.
3. Project Apollo Cost-Saving Initiatives
Project Apollo focuses on streamlining operations and maintenance to deliver $40–60 million in annual cost savings. Revised plans cap average annual bill increases below 5% and keep O&M expenses flat over the five-year horizon, bolstering margins.
4. Capital Investment Plan and Growth Targets
NiSource plans to invest $28 billion from 2026 through 2030, allocating $21 billion to base infrastructure and $7 billion to data center support projects. The program targets 9–11% annual rate base growth through 2033, enhancing long-term earnings visibility.