AES Indiana Rate Case Returns September 17, Aluminum Tariff Jobs at Risk and THOR Industries Restructures: TEG Daily September 11, 2026

Three simultaneous pressure points landed on Indiana's industrial base this week, and each one has a hard deadline attached. The AES Indiana rate case is back before the IURC with a September 17 preliminary hearing, triggered by a disclosure failure that goes well beyond a consumer affordability argument. Collapsed U.S.-Canada tariff talks have left 2,500 Indiana aluminum fabrication jobs in a holding pattern, with the 50% tariff line holding for now but the next negotiating round already in view. And THOR Industries just rewired its entire North American RV leadership structure from Elkhart, effective immediately. Here is what each one means for your operation.

Questions for Your Morning Huddle

Q: What is the AES Indiana September 17 IURC rehearing actually about?

A: The IURC reopened the case because AES Indiana executed a service agreement with Google's Monrovia data center without disclosing it during sworn regulatory proceedings. The September 17 hearing will determine whether scope stays narrow (limited to the OUCC's four objections on ROE, vacant-position payroll, and rate case expenses) or expands to include the disclosure conduct and the BlackRock acquisition, which would extend the timeline before a final revised order.

Q: What does the collapsed U.S.-Canada tariff negotiation mean for Indiana aluminum manufacturers?

A: The 50% tariff line held after talks broke down, but the risk is not uniform. Vertically integrated producers with captive smelter access face different exposure than open-market extruders who source primary aluminum at market prices. Indiana facilities in that second category face the most cost volatility if the tariff rate changes in the next round of negotiations.

Q: What should THOR Industries suppliers do before the September 22 earnings call?

A: Audit whether your contracts are written with individual THOR brand entities or at the enterprise level. A unified operating group typically precedes consolidated procurement, and suppliers locked into brand-level terms may find their negotiating position weakened when those contracts come up for renewal. The September 22 call is the first place THOR may quantify the synergy targets, that number signals how aggressively they intend to move.

I'm Daniel Burke, CEO of Tactical Energy Group. One of the most important things I can do is stay on top of everything that changes the cost and reliability of power and the economics of making things in Indiana. That is what TEG Daily is, tracking the essential developments and bringing them to operators who need them.

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