We have been appointed by the Energy Regulators Regional Association (ERRA) to assist the latter in documenting, comparing and evaluating the regulatory approaches adopted by ERRA member organisations in setting the allowed revenues for electricity transmission and distribution businesses. The review will comprehensively document and assess all aspects of revenue setting, including the overarching methodology employed by regulators, the calculation of the various components of revenue, mechanisms for assessing expenditures, the setting of the cost of capital, the use of incentive mechanisms, and the treatment of deviations from forecasted costs and allowed revenues.