NiSource Signs 20-Year Microsoft Power Deal, Lifts Customer Savings to $1.75B
NI is trading near its 52-week low of $38.42 (7.4% above the low).
Summary
NiSource locked in a 20-year energy agreement to serve Microsoft's northwest Indiana data center campus, with electric service starting in 2028. The deal adds roughly 1,100 MW to the GenCo large-load pool and lifts total expected NIPSCO electric customer savings to about $1.75 billion from the $1.4 billion previously disclosed — as much as $140 per customer annually. Microsoft fully funds the generation and transmission built for its load, so existing ratepayers are shielded from data center costs, which is the core of the GenCo structure. This follows the 8-K filed this morning on GenCo's 600 MW battery storage tolling agreement with an AGP Group affiliate, the resource backing this load. It matters because it converts NiSource's data center pipeline from regulatory wins into a contracted, 20-year revenue stream and strengthens the affordability story that regulators and investors have pressed on. Management says further financial detail comes on the Q3 earnings call.
At the time of this announcement, NI was trading at $41.25 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $19.8B. The 52-week trading range was $38.42 to $49.21. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.