The 10-K reiterates NiSource's commitment to retire its coal-fired electric generation assets by 2028, replacing them with lower-cost, reliable, and cleaner energy sources. This strategy is supported by the 2018 and 2021 Integrated Resource Plans.

NiSource invested $1.5 billion in infrastructure modernization during 2023, including the replacement of 339 miles of gas distribution main and service lines and upgrades to electric transmission and distribution infrastructure.

NiSource is exploring the use of hydrogen and renewable natural gas as part of its long-term strategy, including a pilot project blending hydrogen into the natural gas system in Pennsylvania.

NiSource consummated the NIPSCO Minority Interest Transaction on December 31, 2023, issuing a 19.9% equity interest in NIPSCO Holdings II to an affiliate of Blackstone in exchange for a $2.16 billion capital contribution.

NiSource is focused on streamlining work processes and improving logistics company-wide through its transformation roadmap, which includes investments in technology and standardized processes.

The 10-K notes increasing prices for certain materials, equipment, and products, which impacts the ability to complete major capital projects at planned and approved costs. This presents a challenge to management's execution.

The 10-K highlights operational, financial, and regulatory conditions that could impede the execution of NiSource's business plan, including natural gas pipeline modernization and renewable energy projects.

The 10-K discusses the inherent hazards and operating risks of NiSource's activities, including gas leaks, over-pressurization, downed power lines, and environmental spills, which could result in injury, loss of life, property damage, and financial losses.

The 10-K discusses the potential impact of increased frequency of severe weather events and proposed legislative and regulatory programs related to GHG emissions on NiSource's business.

The 10-K acknowledges competition from investor-owned, municipal, and cooperative electric utilities, other regulated and unregulated natural gas pipelines, and alternate fuels such as propane and fuel oil.

The 10-K states that retail electric customers in Indiana do not have the ability to choose their electric supplier, which provides some protection from competition.

The 10-K notes that NIPSCO faces non-utility competition from other energy sources, such as self-generation by large industrial customers and other distributed energy sources.

The 10-K states that NiSource is committed to identifying and implementing initiatives that will enable it to streamline work and improve logistics company-wide.

The 10-K notes that supply chain issues related to shortages of materials, labor, and transportation logistics may lead to delays in the maintenance and replacement of aging or damaged infrastructure.

The 10-K states that NiSource has implemented contractual protections with suppliers and stockpiles some materials in inventory for such supply risks.

The 10-K notes that NiSource faces increased competition for talent and is working to attract, retain, and reskill its workforce to support its strategic plan.

The 10-K states that NiSource is deploying advanced mobile methane-detection vehicles across its service territory to identify potential natural gas leaks.

The 10-K states that NiSource is exploring the use of hydrogen and renewable natural gas as part of its long-term strategy, including a pilot project blending hydrogen into the natural gas system in Pennsylvania.

The 10-K states that NiSource expects to make capital investments totaling approximately $16.0 billion during the 2024-2028 period related to infrastructure modernization, generation transition, and customer growth.

The 10-K states that NiSource's financing is sourced through cash flow from operations and the issuance of debt and/or equity.

The 10-K notes that NiSource has added approximately $1 billion in renewable generation projects to its rate base through December 2023.

The 10-K states that NiSource announced a goal of net zero greenhouse gas emissions by 2040 covering both Scope 1 and Scope 2 GHG emissions.

The 10-K notes that NiSource's natural gas distribution companies are lowering methane emissions by replacing aging infrastructure, which also increases safety and reliability for customers and communities.

The 10-K states that NiSource has a goal that the Board is comprised of directors with diverse skills, expertise, experience, and demographics, including racial and gender diversity.

The 10-K notes that NiSource faces increased competition for talent, which may result in longer hire times or increased costs.

The 10-K states that NiSource is monitoring risks related to increasing delivery lead times for certain construction and other materials, increasing risk associated with the unavailability of materials due to global shortages in raw materials and issues with transportation logistics, and risk of decreased construction labor productivity in the event of disruptions in the availability of materials critical to our gas and electric operations.

The 10-K states that most of NiSource's revenues are subject to economic regulation at either the federal or state level, and as such, the revenues generated by NiSource are subject to regulatory review by the applicable federal or state authority.