Gas-Heavy Grid Price Risk and Evonik's $320M Tippecanoe Commitment

Two fast updates. First: Indiana runs a roughly 57% natural gas generation grid in a year when European researchers documented that gas-heavy grids pass price increases straight through to industrial electricity bills, Ireland, at 40% gas generation, hit the EU's highest power prices in 2024. The grids differ on interconnection, fuel sourcing, and carbon policy, but Indiana shares the one structural vulnerability: a high share of gas-fired generation setting the marginal price. Whether utility-approved renewable additions actually hedge that volatility depends on dispatch economics and rate design. Second: Evonik's cumulative Tippecanoe campus commitment is now confirmed above $320 million since 2022, and Section 232 pharmaceutical tariffs begin phasing in July 31, the near-term test of whether U.S.-based API reshoring demand accelerates under tariff pressure.