The RIIO final proposals included a provision for a potential Mid Period Review (MPR) of network company output requirements under the eight year period of the RIIO-T1 and GD1 price controls.
When we developed the RIIO price controls we recognised that there were potential uncertainties that could affect the outputs companies would need to deliver and the expenditure requirements to deliver them. We also acknowledged, given the shift from a five year to an eight year price control period, the potential uncertainties could be greater. So to address this and to ensure the companies continue to deliver the outputs consumers will benefit from, various types of uncertainty mechanisms were included in the RIIO model, including a review of outputs half way through the price control – the Mid-Period Review (MPR).
Here you can view and download documentation on the RIIO-T1 and RIIO-GD1 MPR process.
For information on working groups held as part of the MPR including agendas, actions and key presentations, please see the RIIO-T1 and GD1 Mid-Period Review forum.
The MPR process
We set out in Final Proposals a proposed three-phase process for any MPR.
We consult and set out any potential issues that may be relevant for initiating an MPR.
If an MPR is found to be needed, we would assess and develop any proposed changes in Phase 2.
We would consult on any proposed changes and make any necessary amendments to the licence to implement these during Phase 3.