Brattle experts prepared a benchmarking study on behalf of the Australian Energy Regulator (AER), reviewing the approaches of eight regulators – located in Australia, Italy, the Netherlands, New Zealand, the UK, and the US – to determine the rate of return. Brattle’s report analyzed each regulator’s approach to utility regulation and compared the rate of return methodology applied by each regulator to that of the AER. The report highlighted the key differences across methods and opined on best practices.