NiSource Inc.'s (NI) Columbia Gas Transmission Friday received approval from the Federal Energy Regulatory Commission for a customer settlement that facilitates Columbia's comprehensive pipeline infrastructure investment plan.
Under the settlement, Columbia will invest approximately $300 million per year, in addition to a $100 million investment in ongoing maintenance, over the 2013 through 2017 period on system improvements.
The settlement, filed on September 4, 2012 and widely supported by Columbia's customers, covers the initial five years of Columbia's investment plan and contains provisions for potential extension thereafter.
Among other components, key elements of the settlement identify individual infrastructure projects and establish a mechanism for recovery of Columbia's revenue requirement for infrastructure investment under the plan.
"FERC's approval of our customer settlement is a milestone in our efforts to modernize Columbia's interstate pipeline system in a balanced, thoughtful and transparent manner," said Jimmy Staton, Columbia's chief executive officer.
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