Thursday 24 Jul 2003
NETWORK RAIL RESPONSE TO REGULATOR ANNOUNCEMENT
- Region & Route:
The Office of the Rail Regulator today published its Third Consultation Paper in the ongoing Interim Review of Track Access Charges. The Regulator states that the “emerging conclusions… should be seen as work in progress”.
This is the first stage of the Interim Review process. The process is not due to conclude until December when the Regulator is scheduled to announce his final decisions, and Network Rail will continue to work in cooperation with the Regulator over the coming months with independent consultants examining the scope for efficiency savings.
The Chairman, Ian McAllister, said “We fully agree with the Regulator over the need to deliver better efficiency from our business as we have stated many times. Since the publication of our Business Plan in March (upon which this ORR paper is based) we have announced plans to deliver annual efficiencies of 20% by 2006/07, with a further 10% over the following three years.
“We will continue to work with the Office of the Rail Regulator to identify the speed at which these efficiency savings can be achieved.
“In addition, the Regulator has suggested that the deferral of renewals work can deliver further reduction in costs for Network Rail. This is certainly a proposal that merits further detailed consideration and we will engage with the ORR to consider the issue of the volume of work needed in the next few years to modernise Britain’s rail network.”
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ORR - 2
Mr McAllister continued: “ The work of the consultants, which the ORR has also published today, will help inform this process. We look forward to a successful conclusion of the interim review in December 2003.”
About Network Rail
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.
Every day, there are more than 4.8 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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