Pacific Economics Group LLC

What Pacific Economics Group LLC does

Pacific Economics Group Research LLC (PEG) is a boutique consulting firm specializing in utility economics, founded in Madison, Wisconsin and led by President Dr. Mark Newton Lowry and Co-Founder/Partner Dr. Jeffrey Dubin. The firm advises electric and natural gas utilities, state and provincial regulatory commissions, and government research institutions on performance-based regulation (PBR), multiyear rate plans (MRPs), revenue decoupling, statistical benchmarking, and productivity research. PEG's practice spans North America and twelve countries overseas, with named clients including Duke Energy, Avangrid, PG&E, SDG&E, Hawaiian Electric, Puget Sound Energy, Ontario Energy Board, and Lawrence Berkeley National Laboratory.

PEG's core offerings include expert witness testimony, plan design, and proprietary analytical tools — notably the Incentive Power Model, which quantifies impacts of alternative regulatory systems, and a suite of econometric cost models that explain the relationship between utilities' costs and local business conditions. The firm's statistical benchmarking methods (unit cost indexes, productivity indexes, SAIDI/SAIFI reliability models) and capital measurement methods are described as pioneering in U.S. and Canadian ratemaking, with the firm claiming more productivity studies than all other North American consultancies combined. PEG monetizes through negotiated, per-project professional-services engagements on multi-year contract terms, generating revenue via regulatory proceedings testimony, consulting retainers, white papers for industry organizations, and training programs delivered through EEI, NARUC, and CAMPUT.

The firm operates with 1-10 employees at its Capitol Square headquarters and a distributed network of Senior Advisors in Los Angeles, Austin, Denver, and Durango. Marketing is conducted almost entirely through thought leadership: peer-reviewed journal articles, EEI and LBNL white papers, and conference speaking. PEG does not publicly disclose financial information, has no outside institutional investors, and remains founder/partner-owned.

Name

Pacific Economics Group LLC

Legal name

Pacific Economics Group Research LLC

Website

https://pacificeconomicsgroup.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Pacific Economics Group is a Madison, Wisconsin-based boutique consulting firm specializing in performance-based regulation, multiyear rate plans, statistical benchmarking, and productivity research for utilities, regulatory commissions, and government agencies across North America and twelve countries.

Ownership category

akta.pro rank

Product category

Utility Economics Consulting

NAICS

Management Consulting Services (54161), Other Scientific and Technical Consulting Services (54169)

SIC

Services-Engineering, Accounting, Research, Management (8700), Services-Management Consulting Services (8742)

akta.pro primary industry

Policy, Regulatory & Public Affairs Research (BPAHALAF)

akta.pro secondary industries

Industry & Sector Research (Syndicated/Custom) (BPAHALAE), Economic Research, Statistics & Policy Advisory (BPADAMAJ)

Keywords

• Utility economics consulting
• Performance-based regulation
• Energy rate consulting
• Statistical benchmarking services
• Utility regulatory research

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Regulatory Consulting Services: Expert witness testimony, plan design, and empirical research services for utility economics and performance-based regulation matters. Revenue is generated through consulting engagements with utilities, regulatory bodies, and government agencies. Services include rate case testimony, multiyear rate plan design, statistical benchmarking studies, and productivity research.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Pacific Economics Group Research LLC provides expert consulting services in utility economics, specializing in performance-based regulation (PBR), multiyear rate plan design, statistical benchmarking, and productivity research. The firm delivers these services through expert witness testimony, proprietary analytical models such as the Incentive Power Model and econometric cost models, and published research for utilities, regulatory commissions, and government agencies. Services cover revenue decoupling, performance incentive mechanisms, input price and inflation forecasting, and regulatory strategy development.

Product overview

Pacific Economics Group Research LLC is a consulting firm offering specialized services in utility economics rather than a software product company. The firm provides a unified portfolio of regulatory consulting services centered on performance-based regulation (PBR), alternative regulation (Altreg), statistical benchmarking, and productivity research. These core offerings are delivered through expert witness testimony, proprietary analytical tools including the Incentive Power Model and econometric cost models, and ongoing research publications. The services are designed to help energy utilities and regulators navigate rate setting, multiyear rate plan design, and regulatory strategy.

Differentiator

Problem solved

Functional benefit

Products and services

• Performance-Based Regulation (PBR) Consulting

Quantifiable outcome

• Power distributor productivity growth averaged 0.16% annually (simple arithmetic) and 0.49% annually (cost-weighted) during Ontario's Renewed Regulatory Framework growth rate years
• +1 more outcomes

Named customers15 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Edison Electric InstitutecoreStrategic or Co-development PartnerLong-standing partnership where PEG prepares authoritative surveys and reports on alternatives to traditional ratemaking (Altreg) for EEI. PEG has prepared four white papers surveying multiyear rate plan and Altreg trends for EEI since the early 1990s. EEI released the latest report in February 2024.
• Lawrence Berkeley National LaboratorycoreStrategic or Co-development PartnerPEG co-authored influential white papers on PBR for LBNL, including papers on PBR in the context of growth in distributed energy resources and multiyear rate plans. LBNL has funded PEG presentations and seminars on PBR to numerous organizations including NARUC, NASUCA, and the National Conference of State Legislatures.
• Ontario Energy BoardcoreImplementation/ SI/ Consulting PartnerPEG has for many years advised the Ontario Energy Board on MRPs, helping it become a world PBR leader. PEG currently works with OEB to develop new cost benchmarking models for Ontario power distributors. The OEB uses PEG's productivity and benchmarking research to design attrition relief mechanisms.
• Grid Modernization Laboratory ConsortiumcoreStrategic or Co-development PartnerU.S. Department of Energy-funded consortium for which PEG has prepared research papers on multiyear rate plans for U.S. electric utilities and provided training sessions to organizations like the New England Council of Public Utility Commissioners.
• National Association of State Utility Consumer Advocates (NASUCA)minorStrategic or Co-development PartnerPEG President Dr. Lowry served as instructor at a technical training session funded by the DOE's Grid Modernization Laboratory Consortium at NASUCA's midyear meeting on multiyear rate plans and performance-based regulation.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Analysis Group: Economic, financial, and strategic consulting firm with substantial energy and utility economics practice. Competes with PEG on econometric modeling, rate cases, and expert testimony.
• The Brattle Group: Economic and regulatory consulting firm with a deep utility practice, including rate cases, PBR design, and benchmarking. Directly competes with PEG for utility economics expert testimony and regulatory advisory work in North America.
• Berkeley Research Group (BRG): Expert witness and economic consulting firm with significant energy utility economics practice. Became a closer competitor in 2017 when it hired PEG co-founders Cicchetti and Long as Managing Directors.
• Compass Lexecon: Economic consulting firm providing expert economic analysis and testimony in regulatory and litigation settings. Directly comparable to PEG on utility/energy regulatory economics and expert witness work.
• NERA Economic Consulting: Economic consulting firm providing expert testimony and regulatory economics across utility, energy, and antitrust matters. Competes with PEG for econometric modeling and regulatory advisory engagements.
• Charles River Associates: Global consulting firm offering economic and management consulting for the energy sector, including utility regulatory strategy, competition, and litigation support that overlaps with PEG's PBR and benchmarking work.
• Christensen Associates Energy Consulting: Energy economics consulting firm with utility cost and productivity analysis practices — the same domain from which PEG's VP David Hovde came. Comparable offerings in econometric cost modeling and benchmarking.

Others

• Edison Electric Institute (EEI): Industry trade association and a long-standing PEG client. Functions as a customer/channel partner rather than competitor — PEG has produced four Altreg white papers for EEI since the early 1990s.
• Lawrence Berkeley National Laboratory: DOE-affiliated research lab and core PEG partner. Funds white papers, trainings, and seminars, and acts as a research-publication partner rather than a direct commercial competitor.

Regional players

• London Economics: Economics consulting firm with utility regulation, network industry, and benchmarking practices in Europe and the UK. Comparable to PEG's international PBR work in regulated energy markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/PEGResearch
• LinkedInlinkedin.com/company/pacific-economics-group-research-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pacific Economics Group LLC