NI · 10-Q · 2026Q2 · Full report
Rate Case Outcomes
NISOURCE INC. · 2026-08-05 · Importance 64 · Surprise 42 · In source text
NIPSCO Electric received approval for $257.0 million of incremental revenue at a 9.75% approved ROE, with rates implemented in steps through March 2026. NIPSCO Gas received approval for $120.9 million of incremental revenue at a 9.75% approved ROE, with Step 1 rates effective in August 2024 and Step 2 rates effective in February 2025. Columbia of Virginia filed a pending multi-year case requesting $64.4 million of incremental revenue, including $49.4 million for the first rate year effective October 2026 and an additional $15.0 million for the second rate year effective October 2027. Columbia of Kentucky filed a pending case requesting $28.8 million of incremental revenue with rates expected to become effective in January 2027.
Key facts
- Columbia of Pennsylvania approved ROE: 10.00%, requested incremental revenue: $110.4 million, approved incremental revenue: $55.6 million, filing date: March 20, 2025, rates effective: January 2026. source
- Columbia of Kentucky approved ROE: 9.75%, requested incremental revenue: $23.8 million, approved incremental revenue: $14.3 million, filing date: May 16, 2024, rates effective: January 2025. source
- Columbia of Maryland approved ROE: 9.80%, requested incremental revenue: $10.7 million, approved incremental revenue: $7.8 million, filing date: September 24, 2024, rates effective: April 2025. source
- Pending: Columbia of Virginia pending rate case requested incremental revenue: $64.4 million, filing date: May 7, 2026, rates effective: October 2026 & 2027. source
- Pending: Columbia of Kentucky pending rate case requested incremental revenue: $28.8 million, filing date: May 20, 2026, rates effective: January 2027. source
- The requested incremental revenue under the multi-year rate plan for Columbia of Virginia is $49.4 million for the first rate year with rates effective October 2026 and an additional $15.0 million for the second rate year with rates effective October 2027. source
- NIPSCO Electric approved ROE: 9.75%, requested incremental revenue: $368.7 million, approved incremental revenue: $257.0 million, filing date: September 12, 2024, rates effective: July 2025. source
- Columbia of Ohio approved ROE: 9.60%, requested incremental revenue: $221.4 million, approved incremental revenue: $68.3 million, filing date: June 30, 2021, rates effective: March 2023. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +19.9% | NIPSCO Electric approved ROE: 9.75%, requested incremental revenue: $368.7 million, approved incremental revenue: $257.0 million, filing… |
| revenue | positive | realized | +9.4% | NIPSCO Gas approved ROE: 9.75%, requested incremental revenue: $161.9 million, approved incremental revenue: $120.9 million, filing date:… |
| revenue | positive | realized | +5.3% | Columbia of Ohio approved ROE: 9.60%, requested incremental revenue: $221.4 million, approved incremental revenue: $68.3 million, filing… |
| revenue | positive | realized | +4.3% | Columbia of Pennsylvania approved ROE: 10.00%, requested incremental revenue: $110.4 million, approved incremental revenue: $55.6 million,… |
| revenue | positive | probable | +2.5% | Pending: Columbia of Virginia pending rate case requested incremental revenue: $64.4 million, filing date: May 7, 2026, rates effective:… |
| revenue | positive | probable | +1.9% | The requested incremental revenue under the multi-year rate plan for Columbia of Virginia is $49.4 million for the first rate year with… |
| revenue | positive | realized | +1.1% | Columbia of Kentucky approved ROE: 9.75%, requested incremental revenue: $23.8 million, approved incremental revenue: $14.3 million,… |
| revenue | positive | probable | +1.1% | Pending: Columbia of Kentucky pending rate case requested incremental revenue: $28.8 million, filing date: May 20, 2026, rates effective:… |
| revenue | positive | realized | +0.6% | Columbia of Maryland approved ROE: 9.80%, requested incremental revenue: $10.7 million, approved incremental revenue: $7.8 million, filing… |
| revenue | positive | probable | +0.6% | The requested incremental revenue under the multi-year rate plan for Columbia of Virginia is $49.4 million for the first rate year with… |