In a breakout session on changing utility models, Rich Sedano explored performance-based regulation (PBR) with attendees of the 2014 Climate and Energy Funders Group Annual Meeting. The first glimpse of performance regulation emerged with the cataclysms of nuclear plant disallowances and competitive generation markets. Today, performance regulation is on the upswing, whether the result of reliability crises, high rates, or the vision of individual policymakers. Mr. Sedano focuses on leveraging PBR as a vehicle to promote stability, reliability and service, productivity improvements, and public policy priority outcomes. He illustrates 13 utility activities that can be linked to performance for states serious about aligning utility earnings with improved productivity.