Columbia Gas Parent's Profit Up On Higher Rates

By Business First of Columbus

The parent company of Columbia Gas of Ohio Inc. increased its net income as higher rates helped its natural gas business in the third quarter.

Merrillville, Ind.-based NiSource Inc. (NYSE:NI) reported a profit of $34.7 million, or 13 cents a share, up from $33.2 million, or 12 cents a share, a year ago. The companyâ¿¿s natural gas distribution division lost $40.7 million during the third quarter last year, but it turned an $8 million profit this year as it increased fixed charges to rate payers, the company reported.

⿿Additionally, there was an increase in other regulatory and service programs largely due to new rates under Columbia Gas of Ohio⿿s approved infrastructure replacement program and rate cases at other utilities,⿝ the company reported.

NiSourceâ¿¿s full earnings report is available here.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/columbus/news/2011/10/28/columbia-gas-parents-profit-up-on.html?ana=thestreet

Copyright bizjournals.com 2010

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