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What is the RIIO-3 Framework?

  • The Name “RIIO” stands for Revenue = Incentives + Innovation + outputs.  
  • RIIO 3 is the third iteration of the price control mechanism used by Ofgem for regulating companies that run the UK’s gas and electricity transmission and distribution networks.  
  • Through RIIO-3, Ofgem sets how much network operators (electricity transmission, gas transmission, and gas distribution) can earn. This gives them a regulated revenue allowance, while linking that allowance to performance, investment, innovation, and delivery of defined outputs (such as reliability, safety, environmental targets, and more).