The regulator signalled its intention to open a consultation with industry late on Thursday to establish if there is a need to initiate an MPR for both the electricity transmission and gas distribution price controls.
The issues in RIIO-T1 which have raised the proposed review include the network output measures, the customer and stakeholder incentive mechanism and the strategic wider works submissions, amongst others.
However it has not identified any material issues for gas distribution that would require a MPR.
The RIIO-T1 and GD1 price controls set the outputs that the transmission and gas distribution companies must deliver for the period from 1 April 2013 to 31 March 2021 and their allowed revenues for that period.
The provision for an MPR was included in the final proposals if changes to the set outputs can be justified due to changes to government policy or new outputs are required to meet the needs of customers and other network users.
If Ofgem does decide to implement an MPR policy proposals would be set out in summer 2016 for a decision in late autumn 2016.
The consultation closes on 12 January 2016.