Wednesday 12 Jun 2013
Network Rail responds to ORR draft determination
- Region & Route:
- National
Responding to the Office of Rail Regulation’s draft determination for control period 5 (2014-19), a Network Rail spokesperson said: “We welcome today's draft determination from the Office of Rail Regulation setting out their proposals for the funding and investment the railway will need for the five years to 2019.
“A decision of this significance, which will be important not only for the railway’s four million daily passengers and freight users, but also the economic prosperity of the country and the future sustainability of the network, needs careful and detailed thought. We will take the time necessary to analyse our regulator's initial findings before giving our formal response in September.
“There is no question that our railway needs to sustain the high levels of investment seen in recent years if we are to continue expanding the railway to provide for the ever growing numbers of passengers and trains. Getting the balance right in making the choices between performance, growth and value for money is critical if we are to build on efficiency savings of around 40% achieved over the last two control periods.”
Notes to editors
Some key points from Network Rail’s strategic business plan, published in January 2013, which provide the company’s view on what is needed to run and invest in Britain’s railway in CP5:
- Operating, maintaining and renewing the network - £21.4bn
- Enhancements (projects to expand the railway) - £12.4bn
- Performance target - 92.5%
- Efficiency target - 18%
The key next steps in the periodic review process are:
- 4 September: Deadline for responses to the draft determination
- 31 October: ORR publishes the final determination
- December 2013: Network Rail publishes draft CP5 delivery plan for consultation
- March 2014: Network Rail publishes CP5 delivery plan
- 1 April 2014: CP5 begins
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We own, operate and develop Britain's railway infrastructure; that's 20,000 miles of track, 30,000 bridges, tunnels and viaducts and the thousands of signals, level crossings and stations. We run 20 of the UK's largest stations while all the others, over 2,500, are run by the country's train operating companies.
Usually, there are almost five million journeys made in the UK and over 600 freight trains run on the network. People depend on Britain's railway for their daily commute, to visit friends and loved ones and to get them home safe every day. Our role is to deliver a safe and reliable railway, so we carefully manage and deliver thousands of projects every year that form part of the multi-billion pound Railway Upgrade Plan, to grow and expand the nation's railway network to respond to the tremendous growth and demand the railway has experienced - a doubling of passenger journeys over the past 20 years.
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