This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
On September 13, 2018, over-pressurization of Columbia Gas of Massachusetts pipelines caused approximately 80 homes in Lawrence, Andover, and North Andover to explode or catch fire simultaneously. One person was killed and at least 25 were injured. The Massachusetts Attorney General reached a $56 million settlement. Residents and businesses received $143 million. Municipalities received $83 million. NiSource subsequently sold its Massachusetts gas operations to Eversource for $1.1 billion.
The incident was the worst natural gas utility disaster in modern U.S. history. NiSource continues to operate Columbia Gas in six other states, distributing natural gas to 3.5 million customers with no announced phase-out plan.
NiSource operates Columbia Pipeline Group, a portfolio of approximately 15,000 miles of interstate natural gas pipelines and related storage assets across the Appalachian and Gulf Coast production regions. This midstream business, which was spun off as a separate entity in 2015, is central to the company's operations, transporting and storing fossil fuels for utility and energy market customers.
The company’s history is marked by a catastrophic pipeline safety failure. On September 13, 2018, over-pressurization of Columbia Gas of Massachusetts pipelines caused approximately 80 homes in the Merrimack Valley to explode or catch fire simultaneously. One person was killed and at least 25 were injured. The incident resulted in a $56 million settlement with the Massachusetts Attorney General, with additional settlements providing $143 million to residents and businesses and $83 million to municipalities. While NiSource subsequently sold its Massachusetts operations, it continues to operate regulated gas distribution utilities serving approximately 3.5 million customers across six states, with no announced plan to phase out its core fossil fuel infrastructure.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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