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Source: Indiana Governor Mike Braun / Indiana Governor Mike Braun

INDIANAPOLIS — Gov. Mike Braun and former Indiana Utility Regulatory Commission Chairman Andy Zay have settled a lawsuit that had been pending in Marion Superior Court.

Braun’s office announced the settlement Saturday but did not release the terms of the agreement.

“I am pleased that we have been able to reach a resolution,” Braun said in a statement. “This agreement allows all involved to move forward constructively in the best interest of Hoosiers.”

Braun also thanked Zay for his years of public service.

“I want to recognize Andy for his service to the state,” Braun said. “Public service is demanding work, and I appreciate his contributions over the course of a decade on behalf of Hoosiers.”

Zay said he was disappointed to no longer be involved with the IURC but believes settling the lawsuit is the right move.

“The Indiana Utility Regulatory Commission performs important work on behalf of all Hoosiers,” Zay said in a statement released by Braun’s office. “I’m proud to have been involved in addressing these issues during my time on the Utilities Committee in the Indiana Senate and later as Chair and Commissioner of the IURC.”

Zay said he appreciates Braun’s willingness to reach an agreement.

“I believe resolution with the State is in everyone’s best interest at this time,” Zay said