In recent years, the Brazilian electricity sector has been experiencing high levels of non-technical losses, impacting both the electricity tariff paid by the consumer and the financial balance of the distributors. The high levels of NTP have multiple causes, ranging from the management difficulties of the distributors themselves in the fight against losses, even to the regional socioeconomic complexities. Aneel is the entity responsible for regulating the levels of these losses, using an own methodology applied in each rate review cycle. In this context, the present article sought to develop a metric capable of evaluating, measuring and classifying the effectiveness of the regulatory methodologies of NTP treatment, according to the results obtained at the end of each regulatory period. For this evaluation, it was identified the possibility of using Multicriteria Analysis techniques, such as the TODIM method. Because of their ability to handle different perceptions of interest.