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If you are using ERCOTs plan as a road map for Indiana, you need to look at a little history to know you have picked a failure. Having worked in the power industry for a dozen years, I know that Texas operates by different rules than the rest of the US and the Republican lead hands off regulatory environment resulted in a spectacularly deadly grid meltdown just a few years ago. Texas is not the place you want to use as an example on how to run the grid.
If you want to find a place to focus policy it should be at the federal level. Indiana is not going to fix the grid problem by itself. There are two pieces that need to be fixed, transmission distribution, and based load electrical production. Ohio has implemented regulations that has slashed baseload production capacity and because the grid is a regional entity, what happens in Ohio affects Indiana. The current problem with transmission distribution has to do with the years long process it takes to get new projects approved. Most of that problem is not a state problem.
Oh, I do agree that some state policies do make a difference. Ohio’s deregulation and uncoupling of where you buy your electricity versus who you pay for distribution, created the mess where there’s lack of generation capacity in the state. Texas has the same deregulated policy, and that was part of what caused the meltdown a few years ago. Ohio is just luckier to be part of PJM and not ERCOT.
Also, if you’re thinking that state regulations will somehow bring back coal your’e either a dreamer or a Republican. No sane multinational bank will ever loan a penny to a coal project.