SOUTH BEND, Ind. -- NiSource announced significant development through NIPSCO or Northern Indiana Public Service Company LLC. The announcement came on September 18, 2025, NIPSCO signed a strategic agreement with a major investment-grade firm to supply electricity to the customer's data centers. Scheduled to start in 2027, the contract will see capacity commitments increase gradually each year until 2032.

Currently awaiting approval from the Indiana Utility Regulatory Commission (IURC), the agreement, once approved, will feature a mechanism to pass savings back to retail customers, utilizing the existing system from 2027.

To fulfill this contract, NIPSCO Generation LLC, a NiSource subsidiary, plans to build new dispatchable power plants. The company has already executed engineering, procurement, and construction contracts, as well as equipment supply agreements, to support this project.

NIPSCO plans to finance the project through a combination of debt and equity financing, which may include minority equity investments through its subsidiaries. The company is also exploring other funding sources, structures, and partnerships as the market evolves. 

Further details regarding the contract and its financial implications will be disclosed during NIPSCO's earnings conference for the ending quarter on September 30.