NIPSCO history

In 1853, a forerunner of NIPSCO, the Fort Wayne Gas Light Company, was established.

the descendant of several small enterprises founded during the nineteenth century, including the South Bend Gas Light Co., established in 1868 by the Studebaker brothers, of the famous wagon-making firm.

1885 – Manufacturers Natural Gas Company (now known as Columbia Gas of Pennsylvania) chartered

1906 – Columbia Gas predecessor companies formed

In 1909, Northern Indiana Gas and Electric Company was formed; a year later, it acquired South Bend Gas Light Company and became a subsidiary of United Gas Improvement Co.

Samuel Insull organized the Interstate Public Service Company in Indianapolis in 1912 with headquarters located in the Traction Terminal Building.

In 1923, Northern Indiana was purchased by Samuel Insull, who owned utilities all around the Chicago area.

In 1926, Insull combined Northern Indiana Gas & Electric with his Calumet Electric Co., forming the Northern Indiana Public Service Co.

Over the years Insull centralized control of many small electric and gas companies into Interstate but overextended his holdings and following the stock market crash in 1929, he was forced to declare bankruptcy.

For a brief time, Samuel Insull, Jr., served as chairman, but by 1932, with the election of John N. Shannahan to the post, the Insull family ceased its direct participation in NIPSCO's affairs.

Following Shannahan's death in 1938, NIPSCO embarked on a long, steady period of growth under the leadership of Dean H. Mitchell.

NIPSCO began working with Commonwealth Edison of Chicago in 1939 by selling a subsidiary to Comm Ed but retaining a long-term contract.

In 1947, Midland Utilities Company sold block of privately held stock in NIPSCO, allowing the former subsidiary to go public.

1948 – Company is renamed Columbia Gas System Inc.

In 1955, NIPSCO has paid a total of $188,618.36 in taxes into the office of the Porter county treasurer.

By 1970 NIPSCO was capable of generating 1.39 million kilowatts, with 500,000 kilowatts available under purchase contracts.

1974 – Bay State Gas (now known as Columbia Gas of Massachusetts) formed through the merger of Brockton, Taunton, Springfield, Northampton and Lawrence gas companies

Presiding over NIPSCO during most of this troubled period was Edmund A. Schroer, who became chief executive officer in 1976 after serving as corporate legal counsel for the previous ten years.

Originally published in The Vidette-Messenger of Porter County on April 27, 1981.

Intensifying NIPSCO's loss was the Indiana high court's later ruling that NIPSCO could not amortize the failed project's costs over a 15-year period, forcing the company in 1985 to declare a net loss of $94.8 million.

Most significant for the company's renewed success was the incorporation of NIPSCO Industries in 1987, the parent company of Northern Indiana Public Service Company, followed by an exchange of shares the following year.

By 1990, when these causes were restated in a five-year plan, NIPSCO had demonstrated marked improvements in its financial health, causing Moody's, and later Standard & Poor's, to elevate bond ratings for the company.

The February 1992 purchase of Kokomo Gas and Fuel Company, a transaction valued at $47.9 million, was one of many new developments intended to fulfill NIPSCO's five-year plan and Schroer's extended vision.

2000 – NiSource and Columbia Energy Group merge, forming one of America’s largest gas and electric companies

2015 – NiSource and Columbia Pipeline Group separate, creating NiSource as a stand-alone utility company