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Incentive-Based Regulation (RIIO Model)—Great Britain

Introduction to Great Britain's Incentive-Based Regulation for Transmission and Distribution in the Gas and Electricity Market

  • Research Code : 9AAE-00-33-00-00
  • SKU : EG00071-AP-MR_00566
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  • Release Date : 30-Dec-2015
  • Region : Asia Pacific
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The Office of Gas and Electricity Market (Ofgem) has implemented RIIO (setting Revenue using Incentives to deliver Innovations and Outputs) for the incentive-based regulation (IBR) covering the gas and electricity transmission and distribution network in Great Britain (England, Wales, and Scotland). The RIIO model puts the customer in the middle of the decision-making matrix. Targets are set on primary outputs covering customer satisfaction, safety, reliability, environmental connections, and social obligations. A second-level set of secondary outputs are subsequently incorporated in a detailed business plan to meet the primary output targets. The IBR period (price control period) is set for 8 years, which aligns with asset investment decisions better than the 5-year period. Wider industry participation is supported using innovation funds controlled by Ofgem.
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