Request supports economic development; recommends new residential energy-efficiency programs

CANONSBURG, Pa. , March 18, 2022 /PRNewswire/ -- Columbia Gas of Pennsylvania, Inc., a subsidiary of NiSource Inc. (NYSE: NI), has made a request today with the Pennsylvania Public Utility Commission (PA PUC) to approve revised rates for further upgrading and replacing portions of the company's underground natural gas distribution pipelines to benefit its customers. If approved, these proposed rate adjustments would not go into effect until mid-to-late December 2022.

"Ensuring the continued, long-term safety of our customers and communities we serve is an essential part of our business, and it requires the necessary level of investments to modernize an aging energy infrastructure for our customers' future energy needs," said Mark Kempic, Columbia Gas President and Chief Operating Officer. "We also understand that energy efficiency is important to our customers, and this proposal also seeks to provide them with additional energy efficiency options while balancing costs and services to continue delivering on our customer commitments."

With nearly 2,300 full-time employees and contracted resources, Columbia Gas has proudly invested more than $2.8 billion in Pennsylvania since 2007 as part of its long-term plan to modernize and expand its natural gas distribution system.   

In addition to the positive economic and customer benefits associated with these previous and proposed future investments across the 26-county area served by Columbia Gas, this plan supports a positive customer experience through ensuring an educated and trained workforce that is focused on safely meeting or exceeding all federal and state industry requirements.

In its request, Columbia Gas also is requesting approval of additional residential energy efficiency programs which are designed to help Columbia Gas's residential customers reduce their energy consumption, improve efficiency, and conserve resources.

Helping Customers in Need

At all times, Columbia Gas is committed to providing its customers with the tools, resources, and programs to stay safe and warm in their homes.

"Even with these necessary investments, any change in customer bills is meaningful," added Kempic. "Assistance is available, and we're here to help and to work with customers to identify solutions to keep them connected."

Any Columbia Gas customer who may have fallen behind on their energy bills is encouraged to reach out to the company at 1-888-460-4332 or by visiting www.columbiagaspa.com/assistanceprograms.

Review Process by PA PUC

While the company filed its request with the PA PUC today, it is important to note that after filing for a rate adjustment, the review process by the Commission will take approximately nine months. As a result, in this case, any approved and adjusted rates by the PA PUC would not go into effect until mid-to-late December 2022.

Approval of the proposal would result in the average total bill for a residential customer who purchases 70 therms of gas per month from Columbia Gas to increase from $123.24 to $135.67 per month, or by 10.09 percent. The total bill for a small commercial customer purchasing 150 therms of gas from Columbia Gas per month would increase from $205.73 to $223.51, or by 8.64 percent. The total monthly bill for a small industrial customer purchasing 1,316 therms of gas from Columbia Gas would increase from $1,476.21 to $1,586.33 per month, or by 7.46 percent.

If the request is approved as filed, the total average residential customer bill in 2022 would still be 10 percent lower than it was 20 years ago, when adjusted for inflation.

The total overall request represents an $82.2 million increase annually.

How Customers Can Participate in the Rate Review Process

It is important to note that the public has a voice in the review process. Anyone interested in the case can participate by reaching out to the PA PUC, and the company encourages active involvement by customers and any interested parties.

Customers can participate through written comments, attendance at public hearings and various consumer advocacy organizations that participate in the proceedings.

Customers with questions regarding the proposed rates may call Columbia Gas at 1-888-460-4332 or visit www.ColumbiaGasPA.com for more information.

About Columbia Gas of Pennsylvania
Columbia Gas of Pennsylvania delivers clean, affordable, and efficient natural gas to approximately 440,000 customers. With headquarters in Canonsburg, Pennsylvania, it is one of NiSource's six regulated utility companies. NiSource (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers through its local Columbia Gas and NIPSCO brands. More information about Columbia Gas of Pennsylvania and NiSource is available at www.ColumbiaGasPA.com and www.nisource.com.

About NiSource
NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability Index - North America. Additional information about NiSource, its investments in modern infrastructure and systems, its commitments and its local brands can be found at www.nisource.com. Follow us at www.facebook.com/nisource, www.linkedin.com/company/nisource or www.twitter.com/nisourceinc. NI-F

Forward-Looking Statements 
This press release contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one of those factors could cause actual results to differ materially from those projected. These forward-looking statements include, but are not limited to, statements concerning our plans, strategies, objectives, expected performance, expenditures, recovery of expenditures through rates, stated on either a consolidated or segment basis, and any and all underlying assumptions and other statements that are other than statements of historical fact. Expressions of future goals and expectations and similar expressions, including "may," "will," "should," "could," "would," "aims," "seeks," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "targets," "forecast," and "continue," reflecting something other than historical fact are intended to identify forward-looking statements. All forward-looking statements are based on assumptions that management believes to be reasonable; however, there can be no assurance that actual results will not differ materially.

Factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this press release include, among other things, our ability to execute our business plan or growth strategy, including utility infrastructure investments; potential incidents and other operating risks associated with our business; our ability to adapt to, and manage costs related to, advances in technology; impacts related to our aging infrastructure; our ability to obtain sufficient insurance coverage and whether such coverage will protect us against significant losses; the success of our electric generation strategy; construction risks and natural gas costs and supply risks; fluctuations in demand from residential and commercial customers; fluctuations in the price of energy commodities and related transportation costs or an inability to obtain an adequate, reliable and cost-effective fuel supply to meet customer demands; the attraction and retention of a qualified, diverse workforce and ability to maintain good labor relations; our ability to manage new initiatives and organizational changes; the actions of activist stockholders; the performance of third-party suppliers and service providers; potential cybersecurity-attacks; increased requirements and costs related to cybersecurity; any damage to our reputation; any remaining liabilities or impact related to the sale of the Massachusetts Business; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the physical impacts of climate change and the transition to a lower carbon future; our ability to manage the financial and operational risks related to achieving our carbon emission reduction goals; our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; any adverse effects related to our equity units; adverse economic and capital market conditions or increases in interest rates; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; continuing and potential future impacts from the COVID-19 pandemic; economic conditions in certain industries; the reliability of customers and suppliers to fulfill their payment and contractual obligations; the ability of our subsidiaries to generate cash; pension funding obligations; potential impairments of goodwill; changes in the method for determining LIBOR and the potential replacement of the LIBOR benchmark interest rate; the outcome of legal and regulatory proceedings, investigations, incidents, claims and litigation; potential remaining liabilities related to the Greater Lawrence Incident; compliance with the agreements entered into with the U.S. Attorney's Office to settle the U.S. Attorney's Office's investigation relating to the Greater Lawrence Incident; compliance with applicable laws, regulations and tariffs; compliance with environmental laws and the costs of associated liabilities; changes in taxation; and other matters set forth in Part I, Item 1, "Business," Item 1A, "Risk Factors" and Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations," of the company's annual report on Form 10-K for the year ended December 31, 2021, some of which risks are beyond our control. In addition, the relative contributions to profitability by each business segment, and the assumptions underlying the forward-looking statements relating thereto, may change over time.

All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.

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SOURCE NiSource Inc.