Research Renovate Best Regulatory Practice “Toolkit” Series: Performance-Based Regulation – Part 2 Practical guidance for regulators looking to address challenges of the changing electricity industry. Curated practices and processes that can be adapted to all regulatory markets. The Evolution of Performance-Based Regulation: A Model From A Traditional, Vertically Integrated Market. When thinking about the application of performance-based regulation (PBR), most overlook traditional, vertically integrated markets like Minnesota. In this three-part series, SEPA dives into a case study of Minnesota’s proactive, stakeholder-driven process. Minnesota’s experience shows how a conversation about PBR does not require regulators and stakeholders to abandon existing cost-of-service-regulation (COSR) ratemaking practices. This series gives regulators and their staff a roadmap that may inform how they proceed with performance-based regulation in their own jurisdiction. What Is Covered In Part 2: Using multi-year rate plans (MRP) as a stepping stone to performance-based regulation (PBR) The usefulness of building on prior experience when considering regulatory change Download Part 1 and Part 3 A Resource of the Renovate Initiative This series is a part of the larger set of tools from the Renovate Initiative. This initiative helps commissions improve their regulatory process and foster innovation by addressing four obstacles: people and knowledge; managing risk and uncertainty; managing increased rate of change, and complexity of objectives. To learn more about the Renovate Initiative and its other tools, click here.