修复多年期费率计划：为成本控制奠定坚实基础

Building a firm foundation for cost control Authors and Acknowledgments Authors Cara GoldenbergBen Havumaki,Synapse Energy EconomicsCourtney Lane,Synapse Energy EconomicsMelissa Whited,Synapse Energy EconomicsGennelle Wilson Authors listed alphabetically. All authors from RMI unless otherwise noted. Contacts Gennelle Wilson,gwilson@rmi.orgMelissa Whited,MWhited@synapse-energy.com Copyrights and CitationGennelle Wilson, Melissa Whited, Courtney Lane, Ben Havumaki, and Cara Goldenberg,Fixing Multiyear Rate Plans: Building a firm foundation for cost control, RMI and Synapse Energy Economics, 2025,https://rmi.org/insight/fixing-multiyear-rate-plans-building-a-firm-foundation-for-cost-control. RMI values collaboration and aims to accelerate the energy transition through sharing knowledge andinsights. We therefore allow interested parties to reference, share, and cite our work through the CreativeCommons CC BY-SA 4.0 license.https://creativecommons.org/licenses/by-sa/4.0/. All images used are from iStock.com unless otherwise noted. Acknowledgment The authors thank the following individuals for graciously offering their insights to this work. Inclusion onthis list does not indicate endorsement of the report’s findings. David Lapp,Maryland Office of People’s CounselDan Cross-Call,Current Energy GroupMatthew McDonnell,Current Energy GroupMark Lowry,Pacific Economics GroupMatt Makos,Pacific Economics GroupOlexandr Vasetsky,Alberta Utilities CommissionXavier Zheng,RMIRachel Gold,RMI About RMI Rocky Mountain Institute (RMI) is an independent, nonpartisan nonprofit founded in 1982 that transformsglobal energy systems through market-driven solutions to secure a prosperous, resilient, clean energyfuture for all. In collaboration with businesses, policymakers, funders, communities, and other partners,RMI drives investment to scale clean energy solutions, reduce energy waste, and boost access to affordableclean energy in ways that enhance security, strengthen the economy, and improve people’s livelihoods. RMIis active in over 50 countries. About Synapse Energy Economics, Inc.Synapse Energy Economics is a research and consulting firm focused on the intersection of energy, economics, and the environment. Since 1996, we’ve provided rigorous technical, quantitative, and policyanalysis to help public interest and governmental clients improve planning, policies, and decision-makingin the energy sector. Table of Contents MRP Pitfalls and Remedies: Core Design Features to Avoid. . . . . . . . . . 16 Pitfall 1: Excessive revenues in the MRP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16Pitfall 2: Incremental capital funding mechanisms that dilute cost-control incentives . . . . . . . . .18Pitfall 3: Off-ramp thresholds that are too easily met . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23Pitfall 4: Imbalanced treatment of savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25Pitfall 5: Reliance on cost reconciliation mechanisms. . . . . . . . . . . . . . . . . . . . . . . . . . . . .27 Strengthening the Framework: Additional Recommendationsfor Effective MRPs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Carefully consider the rebasing method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30Set authorized ROE with the MRP design in mind . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30Adopt complementary mechanisms to mitigate capex bias . . . . . . . . . . . . . . . . . . . . . . . . .31Design the MRP for constant cost discipline. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32 Broader Considerations: Enhancing Oversightand Long-Term Performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Tackle information asymmetry by creating additional transparency requirements . . . . . . . . . . .33Establish robust reporting metrics to ensure service quality does not erode . . . . . . . . . . . . . . .34Wait to tackle revenue sufficiency for projected load growth until the demandand cost allocation are more certain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34Establish a collaborative regulatory process to support design of MRPs. . . . . . . . . . . . . . . . . .35 Appendix. Case Study on the Evolution of Incremental Capital RecoveryMechanisms in Alberta’s MRPs . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 PBR1, 2013–17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38PBR2, 2018–22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39PBR3, 2024–28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39Insights and key lessons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .40 Executive Summary Today’s electric