Request for Proposals to Retain a Consultant to Assist with Performance-Based Regulation Phase 2

RFP #: 2023-03

The Connecticut Public Utilities Regulatory Authority (PURA or the Authority) seeks competitive proposals from qualified consulting firms to provide subject matter expertise and analysis on the potential modification of regulatory mechanisms in two of the three PBR Phase 2 reopener dockets: 21-05-15RE01 on the topic of Revenue Adjustment Mechanisms; and 21-05-15RE02 on the topic of Performance Mechanisms.

Specifically, within the topic area of Revenue Adjustment Mechanisms the Authority will investigate modifications or additions to Multi-year Rate Plans (MRP), Earnings Sharing Mechanisms (ESM), the Revenue Decoupling Mechanism (RDM), and Capex/Opex Equalization. Within the topic area of Performance Incentive Mechanisms, the Authority will investigate modifications or additions to Reported Metrics, Scorecards, and Performance Incentive Mechanisms (PIMs). The schedule for this RFP is as follows:

Release Date

April 14, 2023

Notice of Intent to Bid April 21, 2023

Pre-Proposal Conference 

(Zoom registration)

PURA Staff Presentation

April 21, 2023, 11 a.m. EST
Deadline for Questions April 28, 2023
RFP Clarifications/Amendments May 5, 2023
Proposal Due Date May 12, 2023


Submission of Proposals

Applicants shall submit proposals by email to as an attachment or via a secure cloud-based link. The subject line of the email must reference “RFP #2023-03, PBR Phase 2.” Late submissions will not be accepted. The proposal must be in PDF (portable document file) format and must be searchable. PURA can accept electronic files no larger than 25 MB.

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