Jefferies shifted its rating on NiSource Inc. to 'Hold,' citing uncertainty stemming from changes within Indiana’s utility commission. This downgrade reflects concerns about the outlook for NiSource’s strategic plans.
The departure of key state regulators has clouded the prospects for the anticipated GenCo spinoff, a subsidiary focused on serving data centers. Questions are swirling regarding the future of this initiative, which was expected to be a significant growth driver.
The Indiana Utility Regulatory Commission (IURC) is overseeing a proposal to create NIPSCO GenCo, a lightly regulated subsidiary designed to fund capacity for data-center customers. The regulatory uncertainty introduces a new layer of risk for investors.
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