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Establishing the regulatory process is a complicated matter of assessing both where you stand and where you want to be, as well as understanding how these may change over time.

PURC Director of Energy Studies Ted Kury and PURC Senior Fellow Raj Barua worked with commissioners and staff of the Bermuda Department of Energy in Hamilton to assess the state of current electric regulatory authority in and planning the future goals for that authority. They delivered several instructional sessions on regulatory process and ratemaking that spurred vigorous discussion of theory and practice in Bermuda. They also implemented a hands-on exercise in cost of service allocation and electric rate design, to help the department better understand the process of determining electric rates that balance the interests of ratepayers and the utility, and the tradeoffs necessary to achieve policy goals.