Consultation on the mid-period review of RIIO-T1
This is Citizens Advice’s response [ 93 kb] to Ofgem’s consultation on its RIIO-T1 mid-period review. Our principal comments are:
Consumers stand to benefit by £185.4m from the reductions Ofgem proposes. This robust action from the regulator in recovering consumers’ money for outputs that are no longer required is extremely welcome.
In the wider context (over the remainder of the price control), in excess of £1bn of transmission and gas distribution networks’ future outperformance will be due to price changes, which is not justified on the basis of innovation and efficiency savings. While RIIO is an important step forward for network regulation, it is still not working optimally for consumers.