The Office of Rail and Road (ORR) has launched the process for determining the funding needed for Britain’s rail network for the next control period.
The process, known as the 2023 Periodic Review (PR23), sets a five-year settlement that will determine the level of funding the infrastructure owner – Network Rail and then its successor Great British Railways – should receive for its operation, maintenance and renewals activities and what, in return, it should be required to deliver from this funding from 2024-2029.
The process will also provide a framework through which ORR will hold the infrastructure owner to account for delivering these objectives during Control Period 7 (CP7).
The UK government has indicated in the Williams-Shapps Plan for Rail that Great British Railways will be held to account for delivering commitments that Network Rail enters into for CP7. This ensures there is clear accountability for delivery and transparency about whether it is achieving this, and stability for investment during a period of change.
PR23 will respond to the challenges facing the railway, and the planned reforms as the Williams-Shapps Plan is implemented. It will support the delivery of a more integrated railway that delivers improvements for customers, both passengers and freight.
ORR’s director of strategy and policy Dan Brown said: “ORR’s five-year funding settlement for Britain’s rail infrastructure will ensure long-term investment to deliver reliable services for passengers and freight users, and value-for-money for customers and taxpayers.
“I’m pleased that the Williams-Shapps Plan for Rail confirmed its commitment to PR23, and today’s letter begins our process for assessing Britain’s railway infrastructure needs from 2024-2029 as we work together to deliver these ambitious reforms.”
Department of Civil Engineering https://www.ibu.edu.ba/department-of-civil-engineering/