NiSource signs energy agreements with Google and Amazon subsidiaries

NiSource (NI) announced a new long-term energy agreement with a subsidiary of Alphabet (GOOG) that will support the development and operation of a large-scale data center in northern Indiana. This marks the second major agreement to leverage NiSource’s solution, NIPSCO Generation. Under the contract, service for Alphabet is expected to begin summer 2026. Capacity and energy will be supplied utilizing a GenCo-owned pooled portfolio of electric generation assets for large-load customers and securing market capacity purchases. NiSource also announced an expanded agreement with Amazon (AMZN) Data Services under which NiSource is accelerating the energization of Amazon sites and associated credits for residential customers. Residents will see the benefits of cost savings and site activation sooner. The GenCo model is structured to help ensure existing customers benefit directly from the addition of new large electric load, with aggregate cost savings now expected to reach approximately $1.25B for existing customers, which is approximately $90-$115 annually for residential customers. NIPSCO and GenCo will provide electric transmission and generation infrastructure to support data centers while coordinating power sourcing. Currently, the GenCo-owned pool portfolio is expected to total approximately 340 MW.

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