How Gas & Electric providers can nail their RIIO-2 strategy using Chatbots.
RIIO (Revenues = Incentives + Innovation + Outputs) is Ofgem’s approach to ensuring the companies that operate the gas and electricity networks in Great Britain have enough revenue to run an efficient network that delivers what customers need. Launched in 2013, with a new framework released every 5 years (or soon to be every 8 years), this summer saw the finalisation of the new framework, known as RIIO-2, which sets the next five years of price controls.
So let’s take a look at some of the key themes in the RIIO-2 framework:
- Giving consumers a stronger voice
- Responding to changes in how networks are used
- Driving innovation and efficiency to benefit consumers
- Simplifying price controls
- Ensuring fair returns.
In this blog post, we will hone in on point one and three - giving customers a stronger voice and driving innovation and efficiency to benefit consumers.