Assist the Commission in understanding the lessons learned from other jurisdictions that have implemented performance-based rate design including those jurisdictions with a restructured electric industry and those that are vertically integrated. This must include a review of the standards and metrics utilized in those jurisdictions and any positive or negative outcomes resulting from the imposition of performance-based standards and metrics on the utility. The review must identify the challenges and barriers, if any, to applying standards and metrics used in vertically integrated jurisdictions to investor-owned transmission and distribution utilities in jurisdictions with a restructured electric industry. Assist the Commission in developing goals for utility performance and translate these goals into performance-based standards and metrics that may be used in rate cases and other proceedings involving CMP and VP. Identify any emerging regulatory mechanisms that would better align transmission and distribution utility performance with State policies and goals when compared to other traditional forms of regulation. It is expected that the results of the consulting work will be presented in a detailed report to the Commission. A draft report must be submitted no later than April 16, 2025. The draft will be reviewed by Commission staff. The consultant will incorporate the Commission’s comments into a final report no later than April 30, 2025.
