The NIPSCO "GenCo" model, recently approved by state regulators, is seen as a step backward in Indiana's future as it creates a "monopoly within a monopoly," creating an outdated utility business model that stifles competition, raises long-term costs, and undermines Hoosier families and a competitive marketplace. The model involves a subsidiary (GenCo), which is used to build and own power plants specifically for large customers, then sells the power to its parent company, NIPSco, which sells it to the megaload user. This model allows for more efficient technology and avoids competitive bidding, leading to more expensive infrastructure than necessary. Critics argue that by “ring-fencing” these projects, residential customers won’t pay for them, these projects can provide financial support for the utility. However, this is a dangerous half-truth, as the financial risk ultimately sits on the utility’s balance sheet. The future of Indiana's economic future depends on a modern, flexible and competitive grid, with utilities like Duke Energy and Indiana Michigan Power moving towards models that allow large customers to access market-based rates or partner with independent energy developers. The Indiana Utility Regulatory Commission and state lawmakers should require new generation projects for large loads to be open to competitive bidding from independent power producers.