NiSource rises over long term energy agreement with Microsoft
BUZZ-NiSource rises over long term energy agreement with Microsoft ** Shares of US utility NiSource NI.N gain 2.8% to $42.44 premarket
** Co signs new long term energy agreement with Microsoft MSFT.O for its previously announced northwest Indiana campus
** Deal increases total expected NIPSCO electric customer savings to approximately $1.75 billion
** Under the deal, MSFT expected to begin taking electric service under a 20-year term starting in 2028
** Through GenCo, NiSource is serving new large-load customers under a structure intended to shield existing NIPSCO electric customers from added costs
** GenCo's pool portfolio will add about 1,100 megawatts, with NIPSCO and GenCo providing the transmission and generation needed to serve Microsoft's data center and other customers
** Separately, NI subsidiary signs deal with AGP Group unit for a planned 600-MW, 2,400-MWh MISO-connected battery storage project, according to an SEC filing
** As of last close, stock down 1.2% YTD
(Reporting by Pranav Mathur in Bengaluru)
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NiSource rises over long term energy agreement with Microsoft
Brief: NiSource announces long-term agreement with Microsoft expected to increase customer savings and support Indiana’s economic growth
Brief: Nisource Inc. Prices $750.0M Of 6.250% Fixed-To-Fixed Reset Rate Junior Subordinated Notes Due 2057