MISO approves Indiana utility’s proposal to shutter coal plant units
NIPSCO is moving ahead with plants to eliminate about half of its coal-fired generation, with the intention to rely on existing capacity through the end of the decade. After that, the utility will look to combined cycle gas units, it said last year.
In addition to Bailly, the utility plans to shut down two units at the R.M. Schahfer station by the end of 2023,
The utility is focused on a seven-year electric infrastructure modernization program which calls for about $1.25 billion of infrastructure investments to be made through 2022; cost recovery on the investments began in February, with $46 million. Utility officials noted that new rates became effective October 2016, boosting NIPSCO’s annual revenues by $72.5 million.
NiSource, the parent company of NIPSCO, announced last year’s income from continuing operations was more than $328 million, compared to $199 million in 2015.
“Our financial and operational results in 2016 – our first fiscal year operating exclusively as a regulated utility – demonstrate the strength of our long-term infrastructure investment strategy,” NiSource President and CEO Joseph Hamrock said in a statement.