- Publication date
- 18th August 2016
- Closing date
- 6th October 2016
- Policy areas
Under the RIIO price control framework, the eight-year price control settlement includes a number of uncertainty mechanisms. One of these is the mid-period review (MPR) of outputs.
The MPR mechanism was put in place to allow for material changes to outputs where there have been clear changes in government policy or consumers’ and network users’ needs. It enables the introduction of new outputs required to meet the needs of consumers and other network users and also for the removal of outputs no longer required.
We decided to launch an MPR for the RIIO-T1 price control focusing on three areas, all of which relate to National Grid’s outputs (both gas and electricity transmission). We are now seeking your views on our proposals for changes to outputs and allowances in each of these areas. The deadline for responses to this consultation is Thursday 6 October 2016.
We will publish our decision on the MPR in November or December after we have considered responses to this consultation. We intend to implement any changes to allowances through modifying the licence, including the Price Control Financial Model (PCFM) in 2017 so that revenue changes can take effect from 1 April 2018.