Merrillville-based NiSource Inc. (NYSE: NI) is reporting first quarter net income of $205 million, down from $276 million during the same period last year. Joe Hamrock, chief executive officer of NiSource, says the results were primarily driven by the execution of the company’s long-term utility infrastructure modernization programs.
The utility company also says it continues to implement its Safety Management System across its entire footprint. The SMS effort follows an incident last year in which gas explosions and subsequent fires killed one person and injured nearly two dozen more in Massachusetts. An independent Quality Review Board was created to oversee the SMS implementation, chaired by former U.S. Congressman and Secretary of Transportation Ray LaHood.
"These programs are the foundation of our focus on safety enhancements to the gas distribution system across our footprint," said Hamrock. "In addition, we continue to advance our electric generation strategy in Indiana, and we are well-positioned to deliver on our commitments for 2019."
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