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- NiSource announces long - term agreement with Microsoft expected to increase customer savings and support Indiana economic growth | Government
NiSource (NYSE: NI) announced a new long-term energy agreement with Microsoft for its northwest Indiana campus, under which new large-load customers are served through NiSource Generation Company LLC (GenCo) in a way designed to shield existing NIPSCO electric customers from incremental costs. The deal builds on previously disclosed expected customer savings of $1.4 billion over the life of data center contracts, raising total expected NIPSCO electric customer savings to approximately $1.75 billion, or as much as $140 per customer annually. Microsoft is expected to begin taking electric service under a 20-year term starting in 2028 and will fully fund the generation and transmission it requires, while the GenCo-owned pool portfolio will grow by about 1,100 MW. GenCo has also contracted 600 MW of battery storage under a long-term tolling agreement, and CEO Lloyd Yates said affordability is not separate from economic development. Further operational and financial details will be shared on the company's third-quarter earnings call.
- NiSource Expands Microsoft Power Deal, Projects $1.75B In Customer Savings
NiSource (NI) announced a 20-year electricity agreement with Microsoft for its planned northwest Indiana campus, with service expected to begin in 2028. The company says its broader strategy could save existing NIPSCO electric customers about $1.75 billion over the life of data-center contracts, up from a previously announced $1.4 billion, or as much as $140 per customer annually. Through NiSource Generation Company (GenCo), about 1,100 MW of generation will be added, along with 600 MW of battery storage under a long-term tolling agreement, and Microsoft will fully fund the generation and transmission infrastructure. The project will also upgrade NIPSCO's transmission system to improve grid reliability and shield existing customers from data-center costs. NI shares rose 2.8% in premarket trading, and more details will come with the third-quarter earnings call on October 28.
- NiSource Signs 20-Year Microsoft Power Agreement for 1,100 MW Indiana Data Centre Campus
NiSource (NYSE: NI) has signed a 20-year agreement with Microsoft (NASDAQ: MSFT) to supply about 1,100 MW of generation to a data centre campus in northwest Indiana, with service expected to start in 2028. Microsoft will fund all generation and transmission infrastructure through NiSource's subsidiary GenCo, structured so these costs are not passed on to existing NIPSCO customers. NiSource raised its projected customer savings from its data centre contracts to about $1.75 billion, up from $1.4 billion, and said savings could reach as much as $140 per existing customer annually, though these are projections, not guaranteed reductions. Separately, GenCo has contracted 600 MW of battery storage under a long-term tolling agreement with an affiliate of AGP Group. NiSource has not disclosed total capital expenditure, the storage duration, construction timing, or the agreement's financial contribution to earnings, and says more details will come with its third-quarter earnings call.
- NiSource announces long-term agreement with Microsoft expected to increase customer savings and support Indiana’s economic growth
NiSource announced a 20-year energy agreement with Microsoft for its northwest Indiana campus, with service expected to begin in 2028. The deal adds about 1,100 MW of new generation through NiSource Generation Company (GenCo), along with 600 MW of contracted battery storage. Microsoft fully funds the generation and transmission it requires, designed to keep existing NIPSCO electric customers from bearing incremental costs. Total expected customer savings from the data center arrangements rise to approximately $1.75 billion, equal to as much as $140 per customer annually. More operational and financial details will be shared on the third-quarter earnings call.
- Constellation Energy (CEG) Signs Google Nuclear Deal, Is It Still Undervalued?
Constellation Energy (CEG) signed a 20-year nuclear power purchase agreement with Alphabet's Google, supplying carbon-free electricity for energy-intensive data centers. The stock rose 4.6% in one day to $270.74, though it is down 26.08% year to date and 22.23% over one year, while its 3-year total shareholder return is up 146.36%. The most followed narrative puts fair value at $350, implying the stock is 22.6% undervalued. However, the current P/E of 27.7x is above the US Electric Utilities industry at 20.3x and a 20x peer average, and just below a 29.7x fair ratio. The article also flags risks such as uprate projects running over budget or regulators capping returns on long-dated nuclear contracts.
- Is AI Data Center Deals Altering The Investment Case For Bloom Energy Stock?
Bloom Energy is seeing strong demand for its solid oxide fuel cells from AI and cloud data centers, including large projects with Oracle and Google, and a growing backlog ahead of its Q3 2026 results. The company has turned free cash flow positive with rising returns on capital, but trades at a premium P/E multiple compared with peers. Oracle's Project Jupiter, which plans up to 2.45 gigawatts of Bloom fuel cell capacity at an AI data center in New Mexico, is seen as a key test: successful delivery would support the on-site power thesis, while delays or cost overruns would intensify valuation concerns. Consensus forecasts point to revenue of US$10.9b and earnings of US$2.7b by 2029, on projected revenue growth of 51.6% per year.
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