Regulation
Gas networks are natural monopolies; consumers can’t choose which network they want to use to transport gas to their homes and businesses.
To make sure that we and other gas networks don’t exploit this and charge customers unfairly, we are regulated by Ofgem under a price control framework called RIIO.
RIIO-GD3 is the name for Ofgem’s price control period for 2026-2031. It’s the process by which we secure a revenue stream and it determines what work we can do, the return we can provide our shareholders and how we run our business. In short, it makes sure we’re investing in the right places and that you’re paying a fair price for the service you get. The contract requires us to meet ambitious performance targets relating to safety, reliability, customer service, environment and social impact, with financial incentives for good performance and penalties for falling short.
- RIIO stands for Revenue = Incentives + Innovation + Outputs
- GD stands for Gas Distribution
- 3 means it’s the third price control period after RIIO-GD2 (2021-2026)
and RIIO-GD1 (2013-2021)
Our customer plan for 2026 - 2031
Our regulatory contract with Ofgem will see over £1.6 billion invested in our gas network over the next five years. This investment will ensure that we can continue to deliver exceptional customer service and network safety, reliability and resilience while stimulating growth for the region’s economy through new jobs and skills creation.
Read about how we’re delivering for our customers.
Our performance
Read about our latest performance to find out how we’re delivering on our commitments to our customers.