Mark Newton Lowry

Mark Newton Lowry is the President of Pacific Economics Group Research LLC and a noted authority on modern energy utility regulation. His chief contribution to the field has been to use rigorous statistical research in regulation, taking advantage of advances in economic statistics and the abundant data on utility operations available from state and federal agencies in the United States. He pioneered the use of input price and productivity research in the design of performance-based ratemaking ("PBR") plans in early proceedings in the Northeast and California. This approach to regulation is now widely used in Canada and several countries overseas. Still active in this field, Lowry played a prominent role in several recent US and Canadian PBR proceedings. He has also been a leader in the introduction of rigorous statistical benchmarking methods in utility regulation. His benchmarking work has emphasized the use of econometric methods.
Dr. Lowry is also noted for his authoritative studies of new developments in regulation. In addition to PBR, he has written and prepared testimony on revenue decoupling, capital cost trackers, forward test years, attrition allowances, and formula rate plans. His work has included several white papers for the Edison Electric Institute ("EEI").
Before joining PEG, Dr. Lowry was a Vice President at Christensen Associates. He has also served as an Assistant Professor of Mineral Economics at the Pennsylvania State University and as a Visiting Professor at l'Ecole des Hautes Etudes Commerciales in Montreal. His research and teaching featured the use of mathematical theory and econometrics in industry analysis. The role of storage in markets for energy and agricultural commodities was a research specialty.
Born in Cleveland, Lowry was raised in Shaker Heights, Ohio. The son of a local attorney, he graduated in 1970 from Hawken School in Gates Mills, Ohio. He attended Princeton University and holds a BA in Ibero-American Studies and a Ph.D. in Applied Economics from the University of Wisconsin. In addition to his publications in the field, he has chaired numerous conferences on Altreg and benchmarking.
Publications on utility regulation
Alternative regulation
*Lowry, Mark N. and Matthew Makos, Gretchen Waschbusch. "Alternative Regulation for Evolving Utility Challenges: An Updated Survey," 2013. Edison Electric Institute.
*Lowry, Mark N. and David Hovde, Lullit Getachew, Matthew Makos. "Forward Test Years for US Electric Utilities," 2010. Edison Electric Institute.
*Lowry, Mark N. and Lullit Getachew. "Econometric TFP Targets, Incentive Regulation, and the Ontario Gas Distribution Industry," 2009. Review of Network Economics 8 (4): 325-345.
*Lowry, Mark N. and Lullit Getachew. "Alternative Regulation, Benchmarking, and Efficient Diversification, " 2009. USAEE Dialogue, 17 (2):27-31.
*Lowry, Mark N. and Lullit Getachew. "Price Control Regulation in North America: Role of Indexing and Benchmarking," 2009. The Electricity Journal, 22: 63-76.
*Lowry, Mark N., Lullit Getachew, David Hovde, Steve Fenrick. “AltReg Rate Designs Address Declining Average Gas Use.” 2008. Natural Gas & Electricity 24 (9): 13-18.
*Fenrick, Steve, Lullit Getachew, and Mark N. Lowry. “Regulation of Gas Distributors with Declining Use Per Customer." 2006. USAEE Dialogue, 14 (2): 17-21.
*Kaufmann, Larry, and Mark N. Lowry. “Alternative Regulation for North American Electric Utilities." 2006. The Electricity Journal 19 (5): 15-26.
*Lowry, Mark N., Lullit Getachew and David Hovde. “Econometric Benchmarking of Cost Performance: The Case of U.S. Power Distributors.” 2005. The Energy Journal, 26 (3): 75-92.
*Kaufmann, Lawrence and Mark N. Lowry. "Performance-Based Regulation Developments for Gas Utilities". Natural Gas and Electricity, April 2004.
*Kaufmann, Lawrence and Mark N. Lowry. "Performance-Based Regulation and Energy Utility Business Strategy". Natural Gas and Electric Power Industries Analysis 2003. Houston: Financial Communications.
*Kaufmann, Lawrence and Mark N. Lowry. "Performance-Based Regulation and Business Strategy". Natural Gas and Electricity, February 2003.
*Lowry, Mark N. and Lawrence Kaufmann. "Performance-Based Regulation for Energy Utilities". Energy Law Journal, Fall 2002.
*Kaufmann, Lawrence and Mark N. Lowry. "Price Cap Regulation for Power Distribution". Washington: Edison Electric Institute, 1998.
*Kaufmann, Lawrence and Mark N. Lowry. "Performance-Based Regulation of U.S. Electric Utilities: The State of the Art and Directions for Further Research". Palo Alto: Electric Power Research Institute, December 1995.
*Kaufmann, Lawrence and Mark N. Lowry. "The Treatment of the Z Factors in Price Cap Plans". Applied Economics Letters 2, 1995.
*Kaufmann, Lawrence and Mark N. Lowry. "A Price Cap Designers Handbook". Washington: Edison Electric Institute, 1995.
*Lowry, Mark N., Lawrence Kaufmann and Eric Ackerman. "Price Caps for Distribution Service: Do They Make Sense?". Edison Times, 1999.
*Lowry, Mark N. and Lawrence Kaufmann. "Forecasting the Productivity Growth of Natural Gas Distributors". AGA Forecasting Review, Vol 5, March 1996.
*Lowry, Mark N. and Herb Thompson. "TFP Trends of U.S. Electric Utilities, 1975-92". Proceedings of the Ninth NARUC Biennial Regulatory Information Conference, Columbus: National Regulatory Research Institute, 1994.
*Lowry, Mark N. "Gas Supply Cost Incentive Plans for Local Distribution Companies". Proceedings of the Eight NARUC Biennial Regulatory Information Conference, Columbus: National Regulatory Research Institute, 1993.
*Lowry, Mark N. "Indexed Price Caps for U.S. Electric Utilities". The Electricity Journal, September-October 1991.
Benchmarking
*Lowry, Mark N. and Lullit Getachew, 2009, "Statistical Benchmarking in Utility Regulation: Role, Standards and Methods", Energy Policy 37: 1323-1330.
*Lowry, Mark N. and Lullit Getachew, 2009, "Price Control Regulation in North America: Role of Indexing and Benchmarking," The Electricity Journal, 22: 63-76.
*Lowry, Mark N., Lullit Getachew and David Hovde. “Econometric Benchmarking of Cost Performance: The Case of U.S. Power Distributors.” 2005. The Energy Journal, 26 (3): 75-92.<ref name=autogenerated1 />
Code of conduct
*Kaufmann, Lawrence and Mark N. Lowry. "The Cost Structure of Power Distribution with Implications for Public Policy". Washington: Edison Electric Institute, 1999.
*Kaufmann, Lawrence and Mark N. Lowry. "Controlling for Cross-Subsidization in Electric Utility Regulation". Washington: Edison Electric Institute, 1998.
*Kaufmann, Lawrence and Mark N. Lowry. "Branding Electric Utility Products: Analysis and Experience in Regulated Industries". Washington: Edison Electric Institute, 1997.<ref name=autogenerated1 />
Other regulation
*Lowry, Mark N. and Lullit Getachew. “The Economics and Regulation of Power Transmission and Distribution: The Developed World Case.” International Handbook on the Economics of Energy, 2009.<ref name=autogenerated1 />

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