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Thursday 30 November, 2017

OFGEM

2017 Annual Iteration Process for Price Controls

RNS Number : 9752X
OFGEM
30 November 2017
 

30 November 2017

Ofgem publishes 2017 annual iteration process for energy network price controls

Ofgem has today published the 2017 annual iteration process (AIP) for energy network companies under its Revenue=Incentives+Innovation+Outputs (RIIO) price controls.

 

The AIP updates base revenues across Ofgem's four price controls (for electricity distribution, gas distribution, electricity transmission, and gas transmission) for the next regulatory year (2018/19).

 

The AIP process involves making annual adjustments to the revenue Ofgem allows networks to collect. For example, the 2017 process brings into effect previously announced decisions such as reductions in revenue from the mid-period review into the 2013-2021 gas and electricity transmission price controls, and following the performance review of electricity distribution companies under their 2010-2015 price control.

 

In total, the AIP will reduce base revenues in 2018/19 by £638 million compared to the assumptions made at the start of the price controls.

 

We have also published updated price control financial models (PCFMs) for the price controls here:

 

RIIO-ED1 Financial Model following the Annual Iteration Process 2017

 

www.ofgem.gov.uk/publications-and-updates/riio-ed1-financial-model-following-annual-iteration-process-2017

 

RIIO-GD1 Financial Model following the Annual Iteration Process 2017

 

www.ofgem.gov.uk/publications-and-updates/riio-gd1-financial-model-following-annual-iteration-process-2017

 

RIIO-ET1 Financial Model following the Annual Iteration Process 2017

 

www.ofgem.gov.uk/publications-and-updates/riio-et1-financial-model-following-annual-iteration-process-2017

 

RIIO-GT1 Financial Model following the Annual Iteration Process 2017

 

www.ofgem.gov.uk/publications-and-updates/riio-gt1-financial-model-following-annual-iteration-process-2017

 

 

 

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Further information

For media, contact:

Chris Lock: 0207 901 7225

Media out of hours mobile: 07766 511470 (media calls only)

For investors, contact:

Martin Young: 0207 901 7114 

About Ofgem

Ofgem is the independent energy regulator for Great Britain. Its priority is to make a positive difference for consumers by promoting competition in the energy markets and regulating networks.

For facts, figures and information about Ofgem's work, see Energy facts and figures or visit the Ofgem Data Portal

Follow us on Twitter @ofgem and LinkedIn

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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