
By Niki Kelly | Editor-in-Chief
“When investors do lose confidence in a utility, it costs real money to borrow that next dollar because the risk has changed.” — Indiana Energy Association President Danielle McGrath
Could Gov. Mike Braun’s fight for utility affordability backfire? Some financial advisers are warning investors about Indiana’s regulatory environment.
It was a cordial but spirited first debate in the secretary of state’s race.
Meta is making big changes after a settlement with Indiana and other states over youth usage of social media platforms.
Plus, the state’s rising prison population, along with road funding needs.
Thanks for spending your morning with us!

An electric transmission substation operated by Montana-Dakota Utilities in Bismarck on April 17, 2026. (Photo by Michael Achterling/North Dakota Monitor)
Utility investment analysts ding Indiana amid ‘political intervention,’ potential profit cuts
By Leslie Bonilla Muñiz
Prominent investment research firms are warning clients off Indiana and its investor-owned utility companies amid the disputed firing of one state regulator and discussion of lower regulator-set profits.
The Indiana Utility Regulatory Commission “wants to quantify every element of (return on equity) and risk, but didn’t mention the obvious,” equity analysts for Wolfe Research wrote in an Aug. 10 report.
“Political intervention in the regulatory process and volatility in the regulatory environment has meaningfully increased the risk and ROEs needed for investing in Indiana utilities,” they added.

Four candidates for Indiana Secretary of State squared off on Aug. 26, 2026, in downtown Indianapolis. From left to right, Max Engling, Lauri Shillings, moderators Dan Spehler and Lesley Weidenbener, Greg Ballard and Beau Bayh. (Photo By Niki Kelly/Indiana Capital Chronicle)
Indiana secretary of state hopefuls clash over voting rules, office audit
By Niki Kelly
Republican Max Engling found himself the outsider against three opponents on several key topics during the first debate between the four hopefuls for Indiana Secretary of State Wednesday night.
Meanwhile, Democrat Beau Bayh, Lincoln Party candidate Greg Ballard and Libertarian Lauri Shillings often agreed.
COMMENTARY

Flock Automated License Plate Reader as captured on Aug. 5, 2026. (Photo by Valentin Termite/Idaho Capital Sun)
Indiana Legislature erred by not acting on license plate readers but can correct the mistake
By Niki Kelly
Automated license plate readers are not new to Indiana, but the outrage is. Flock Safety cameras are the new f-word — even though they have been in use across the state for years with little to no reaction.
I see both sides of the debate but err on the side of giving police more tools. This is especially true in a climate where everyone is hyper-focused on crime and resistant to property taxes.
NATIONAL NEWS

Shipping containers sit at Malcolm Transfer Station in Minneapolis on March 21, 2026. A developing trade war with Canada poses economic danger, especially for states on the northern border. (Photo by Nicole Neri/Minnesota Reformer)
Canadian tariffs to further raise prices, a top concern for voters
By Ashley Murray
WASHINGTON — A developing trade war with Canada could bite Republicans ahead of the upcoming midterm elections as voters worry about rising prices and industries in states with competitive races could suffer.
Maine’s lobster industry dodged what officials had warned could be economic havoc Thursday morning when Canada reversed its decision to tax lobster imports at 25%. But states including Ohio, Pennsylvania, Kentucky, Michigan and Wisconsin could see effects if Canada follows through on retaliatory tariffs on alcohol, automobiles, dairy, home appliances, steel and other goods.
IN CASE YOU MISSED IT
Surplus eyed to cover road losses | Mackenzi Klemann
Thanks for reading Fast Break. Did you know our daily morning newsletter is also free? Sign up here. And if you enjoyed today’s edition, please forward to a friend. Increasing our readership helps us cover more news.