​This report, the final of three volumes of Next-Generation Performance-Based Regulation: Emphasizing Utility Performance to Unleash Power Sector Innovation, focuses on how performance-based regulation (PBR) can be used to navigate an era of rapid technological change in the power sector. It examines the trends seen in this rapid change, including the penetration of disruptive technologies, decentralization of supply, increased activity on the demand side, and the growth of “smart” networks. It then considers examples of innovative PBR designs from around the world, both theoretical and real-world, to demonstrate the wide range of ways performance mechanisms can be used and the variety of goals they can achieve.

The Next-Generation Performance-Based Regulationfull report was published in 2017 as a collaboration between the National Renewable Energy Laboratory and RAP, part of the 21st Century Power Partnership initiative.