RIIO stands for Revenue = Incentives + Innovation + Outputs. This price control, RIIO-ED1, began on 1 April 2015 and runs for eight years to 2023.
This summary report reviews the activities of the electricity Distribution Network Operators (DNOs) in the seventh year of RIIO-ED1. It provides an overview of each DNO’s performance against their agreed outputs and incentives, their innovative activities, and their overall financial performance. It also provides forecasts for the remainder of the price control.
The report reviews DNOs’ costs incurred in making progress against their outputs, comparing this with their allowed revenues. It also provides an impact on customer bills.
Supporting the Annual report is Ofgem's view of network companies’ regulatory financial performance during RIIO-1. This view is based on the information that the companies have reported using the regulatory financial performance reporting (RFPR) process.
This annex should be used in conjunction with the 2017-18, 2018-19, 2019-20 and 2020-21 Regulatory Financial Performance annex to RIIO-1 Annual Reports, the individual sectors 2021-22 network performance summaries as well as the company RFPR files themselves, which have been published on each of the companies respective web pages. The data file attached contains a link to the web page for each company.