RIIO
RIIO is the regulatory framework used by Ofgem, the UK energy regulator, to set price controls for the major energy networks that deliver electricity and gas to customers. The acronym RIIO stands for Revenue = Incentives, Innovation and Outputs. It was introduced in 2009–2010 to replace earlier price controls and to promote better outcomes for customers through longer-term planning and stronger incentives.
Under RIIO, price controls are set for multi-year periods, with network operators required to submit business
Scope: RIIO applies to electricity transmission and distribution networks and to gas transmission and distribution networks
Impact and reception: Supporters argue RIIO aligns network incentives with customer outcomes, drives efficiency, and fosters
Current status: The RIIO framework is currently in its second cycle, known as RIIO-2, covering 2021–2026, with