Utilities should consider two business models when considering their role as distribution system operators (DSO). In the first, the utility would represent a DSO and run the centralized system, with full visibility into available resources for real-time load balancing and responsibility for construction and maintenance, and be compensated on meeting policy goals. In the second, the utility owns the system, reveals its needs, with a separate DSO entity meeting those needs and integrating all assets including DERs.