The report discusses the challenges faced by energy-grid operators in Europe and the regulatory environment pushing them to adopt new approaches. The authors propose output-based regulation as a solution, which incentivizes utilities to maximize output for end users. The report also highlights the use of cost-benefit analysis (CBA) as an innovative method for grid operators to evaluate projects. The authors acknowledge the support and input of various individuals, including Matthias von Bechtolsheim, Michael Kruse, Kirsty Ingham, Florence Carlot, Tomas Skucek, and Kurt Baes.