In an article titled “The Grid Mod Squad: Investors, Ratepayers, and Regulators,” NERA Associate Director Dr. Laura T. W. Olive and former Consultant Max Luke summarize examples of grid modernization regulatory proceedings in the United States. Dr. Olive and Mr. Luke note that US regulators have conducted hundreds of such proceedings since 2000. Players in these regulatory activities are a familiar trio of actors that have always played the central roles in the US utility industry: investor-owned utilities, ratepayers, and regulators.