Price Controls 200 · On-demand course
A recorded case study from MCC Economics on how Ofgem regulates Britain's energy networks, tracing the move from RPI-X to the performance-based RIIO framework through DPCR, GDPCR, RIIO-1 and RIIO-2, and how it shaped regulation around the world.
Price Controls 200 is delivered by practitioners who have worked on British energy price controls, including RIIO-2 work with Ofgem.
Course lead
Director, MCC Economics
PJ has worked on price controls from the regulator's side and for regulated companies, including RIIO-2 work with Ofgem and the Utility Regulator for Northern Ireland.
I heartily recommend PJ to anyone seeking input on the financial parameters that underpin different regulatory models.
Price Controls 200 is a recorded case study of energy network regulation in Great Britain. It explains Ofgem's role, how its price controls evolved from RPI-X through the DPCR and GDPCR reviews to RIIO-1 and RIIO-2, and how RIIO uses totex, incentives, stakeholder panels and performance metrics to manage cost, performance and innovation.
You will be able to explain how British energy price controls work today and why they changed. The course is built around three outcomes.
The lecture sets out Ofgem's framework and then follows its price controls in sequence.
These are the terms the course uses most, in plain English.
| Term | Meaning |
|---|---|
| Ofgem | The Office of Gas and Electricity Markets, the energy regulator for Great Britain. |
| RPI-X | A price control that let revenue rise each year by Retail Prices Index inflation minus an efficiency factor, X. |
| DPCR | Distribution Price Control Review: Ofgem's price controls for electricity distribution networks under RPI-X. |
| GDPCR | Gas Distribution Price Control Review: the equivalent price controls for gas distribution networks. |
| RIIO | Ofgem's framework that replaced RPI-X: Revenue equals Incentives plus Innovation plus Outputs. |
| RIIO-1 and RIIO-2 | The first and second generations of RIIO price controls for transmission and distribution networks. |
| Totex | Total expenditure: capital and operating spending assessed together as one figure. |
| Stakeholder panels | Groups of customers, network users and experts that challenge companies' business plans before Ofgem decides. |
It suits anyone who wants to understand one of the most widely studied models of energy network regulation.
Price Controls 200 brings together the courses on CPI-X, incentives and totex in the model that inspired many of them, alongside the other country case studies.
Browse every title on the MCC Economics courses page.
MCC Economics advises regulators, government bodies and utilities on price controls in the United Kingdom and the Gulf, and its team has worked with Ofgem on the RIIO-2 price controls. The firm was founded in London in 2017. Its regulatory economics work covers energy, water, aviation and infrastructure. You can read the team's background on the people page.
MCC Economics has helped us better understand the most important issues for our stakeholders, including: charges, shareholder returns, debt payments and inflation impacts.
See the instructor profiles near the top of this page for the current teaching team and their experience.
No. Price Controls 200 is recorded course material only, so there is no meeting to attend. You get immediate access to the materials once you register.
A video lecture, slides, a transcript and a quiz.
RPI-X capped revenue at inflation minus an efficiency factor and focused mainly on cost. RIIO, which replaced it after 2010, links revenue to outputs and performance, using totex, incentives and stakeholder scrutiny alongside cost efficiency.
The earlier electricity and gas distribution price control reviews (DPCR and GDPCR) under RPI-X, followed by RIIO-1 and RIIO-2.
No. Ofgem regulates energy networks in Great Britain. Northern Ireland's networks are regulated separately by the Utility Regulator.
It is not required, but Price Controls 110, 160 and 170 cover CPI-X, incentives and totex, which this case study brings together.
Contact MCC Economics through the consultation page to discuss access for a team or training tailored to your organisation.
Page last reviewed October 2026.
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