How we're performing under RIIO-2
In April 2021 new RIIO-2 price controls came into effect which determine the amount we can earn for the projects we deliver and the services we provide.
On this page, you will find our performance reports, which form part of our evaluative incentive scheme.
BP2 Mid Scheme Report 2023-24
BP2 Mid Scheme Report 2023-24 Executive Summary
This report document provides an overview of our delivery and performance over the first year of our BP2 period. This is from April 2023 to March 2024.
BP2 Mid Scheme Report 2023-24 Evidence Chapters
The Evidence Chapters document provides more detail relating to each role.
ESO RIIO-2 BP2 Virtual Mid-Scheme Stakeholder Event
A recording of the virtual event which was an opportunity for stakeholders to ask questions following the publication of our BP2 mid-scheme report.
What is an evaluative incentive scheme?
Under the previous ESO evaluative incentive scheme, Ofgem and a Performance Panel scored how well we have delivered the objectives set out in our RIIO-2 business plan, which was updated for the second Business Plan period.
As NESO is a not-for-profit organisation, the financial element of the Incentives framework has been removed. Instead, it will be replaced with reputational incentives to make sure we continue to deliver value for consumers. Therefore, there have been changes to our Incentives scheme and the Business Planning guidance to reflect this status. We will use that guidance for the duration of the Business Plan 3 (BP3) period.
The reports on this page are part of the evaluation process, and provide a transparent summary of our activities.
Performance documents 2021-25
BP2 2024-25 Reporting
BP2 2024-25 Ofgem and ESO meeting minutes
BP2 2023-24 Reporting
BP2 2023-24 Ofgem and ESO meeting minutes
BP1 2022-23 Reporting
BP1 2022-23 Ofgem and ESO meeting minutes
BP1 2021-22 Ofgem and ESO meeting minutes
How we report on our progress
The Performance Panel assesses our performance according to five criteria:
- Plan Delivery (completing the activities set out in the Delivery Schedule)
- Metric Performance (please refer to the metrics set out by Ofgem in annex 1 of the ESORI guidance)
- Stakeholder Evidence
- Quality of Outputs (which replaced Demonstration of Plan Benefits from April 2023)
- Value for Money
In line with Ofgem’s ESORI guidance which was updated for BP2 in March 2023, we publish a report on this page every month. The reports vary in their contents and significance:
| Monthly reports |
Monthly 17 working day |
An update on monthly metrics and regularly reported evidence, and notable activities from the last month. We also publish the minutes of our monthly performance meetings with Ofgem. |
| Quarterly reports |
Q1: 17 working day of July Q3: 17 working day of January |
In addition to the above, quarterly reports provide an update on quarterly metrics and regularly reported evidence. They also include a value for money update on cost and delivery progress of all NESO specific IT investments, and an updated deliverables tracker. |
| Mid-year reports | 17 working day of October | In addition to the above, mid-year reports provide an update on six-monthly metrics and regularly reported evidence. The value for money section provides an additional update of progress at an overall role level, and we also publish results of stakeholder satisfaction surveys. |
| Mid-scheme and end of scheme reports | 17 May |
In addition to the above, these reports provide an update on annual metrics and regularly reported evidence. They also report against the delivery schedule for each of the activities outlined in NESO’s business plan CBA, and set out how activities are delivered in line with expectations set out in the ESO roles guidance. |
The Performance Panel scores NESO’s performance every six months, and Ofgem will decide on our financial reward at the end of the two-year “Business Plan 2” period (in summer 2025).
RIIO-2 Deliverables Tracker
Download the final BP1 end of scheme deliverables tracker.
Download our new BP2 deliverables tracker to see the latest status of the projects we’re delivering under RIIO-2.
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