RIIO is our approach to ensuring the monopoly companies who own and operate our gas and electricity networks have enough revenue to run an efficient network that delivers what customers need. RIIO stands for Revenues = Incentives + Innovation + Outputs.
We introduced RIIO-1 for the gas distribution and gas and electricity transmission price controls in 2013. These are due to finish in March 2021. We consulted on our draft determinations for the next price control (RIIO-2) in July 2020. The consultation closed on 4 September 2020. Our decisions, having taken account of all consultation responses, are set out in these Final Determinations. These determinations will be followed by a statutory consultation on licence modifications, including the Price Control Financial instruments.