​Megan O’Reilly, Janine Migden-Ostrander and Frederick Weston met with commissioners and staff of the New Mexico Public Regulatory Commission to discuss the theory and practice of revenue-based regulation (“decoupling”) in the U.S. and elsewhere. New Mexico recently enacted a law encouraging the use of alternative regulatory methods that better align private interests with public policy objectives. RAP was invited to advise the regulators on various approaches to decoupling and performance-based regulation. Other participants in the workshops and side meetings included officials from investor-owned and cooperative utilities, staff with the New Mexico attorney general’s office and the state Department of Energy, and representatives of other stakeholders and interested parties.