- Publication date
- 19th March 2015
- Information types
- Policy areas
We are publishing the first RIIO-T1 transmission price control report. This price control began on 1 April 2013 and runs for eight years to 2021. RIIO-T1 is the first transmission price control, along with its gas distribution equivalent, that uses the RIIO price control model. RIIO stands for revenue = incentives + innovation + outputs.
In December 2012 we published our final proposals on the revenues the transmission companies could recover and the outputs they would deliver for the eight year period commencing 1 April 2013. This report is for all stakeholders. It reviews the progress companies have made in the first year 2014, and their forecast for the remainder of the eight year period until 2021. It compares the companies’ performance with the outputs they signed up to and the costs they have incurred against allowed revenues.
As part of the agreed initiative to make company performance more transparent in RIIO, TOs have already published their own annual performance reports on their company websites in September 2014 (and will do so at the end of September each year). This report is therefore designed to give a combined picture of the results rather than re-presenting the numbers which are already in the public domain. We will also highlight to TOs and other stakeholders areas where we will be focusing our attention in future years. This hopefully will encourage TOs to address our concerns in their future returns.