Utilities
NiSource's Q2 FY2026 net income available to common shareholders dropped 55.5% year-over-year to $45.5 million, driven by higher operating expenses and $30.5 million in lockout-related costs at NIPSCO, partially offset by higher capital‑investment revenues.
Key risk: Regulatory and Operational Risk from Extended Coal Plant Operation
Reliance on successive 90‑day emergency orders to keep the R.M. Schahfer plant online creates uncertainty around cost recovery, operational planning, and compliance with environmental rules. Failure to recover costs or a sudden plant closure could materially impact financial results.
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