In December 2021, ANEEL approved a new methodology for establishing regulatory Non-Technical Losses (NTL) for the power distribution segment. For the first time in the history of regulating commercial losses, ANEEL established specific treatment for concessionaires that operate in regions with the presence of Areas with Severe Operating Restrictions (ASRO). ASROs, or simply Risk Areas, are gang-controlled territories – drug trafficking and/or militia – where the rule of law is curtailed. To be more specific, not even the official police can act effectively in these regions. To be clearer, not even the police can act effectively in these regions. It turns out that in this methodological review, valid from January 2022, the treatment given to ASROs is limited, shallow and with a high degree of discretion. Furthermore, the econometric models obtained by the Regulator present methodological inconsistencies. These two factors together lead, consequently, to the establishment of inefficient regulatory targets in many cases, especially for concessionaires that operate in the presence of ASROs. This work seeks to fill this methodological gap, that is, it proposes the development of a methodology based on panel data for the establishment of PNT regulatory targets in electricity distribution concessions that have ASRO. To this end, it is proposed to disaggregate the regulatory target between risk areas and normal areas, by recalculating the Complexity Index of the original concession.