ResearchRenovate Best Regulatory Practice “Toolkit” Series: Performance-Based Regulation – Part 3 Practical guidance for regulators looking to address challenges of the changing electricity 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 MarketWhen 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 3Taking the next step to integrate multi-year rate plans (MRP) and performance incentive mechanisms (PIM) to reach performance-based regulation (PBR).The need to take stakeholder collaborative outcomes into a regulatory environment to achieve your objectives.Download Part 1 and Part 2A Resource of the Renovate InitiativeThis 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.