ORR launches first consultation on the 2018 periodic review
18 May 2016 • Author: Katie Sadler, Digital Content Producer, European Railway Review
The ORR has launched its first major consultation on the 2018 periodic review in order to deliver a safer, more efficient and better performing railway.
The consultation of the 2018 periodic review, known as PR18, will play a central role in determining what Network Rail should deliver between 2019 and 2024, as well as the funding and incentives needed to support this.
“This is an exciting and important opportunity for Britain’s railways”
Launching the PR18 Review, Joanna Whittington, ORR’s Chief Executive said:
“This is an exciting and important opportunity for Britain’s railways.
“ORR’s review will support a safer, more efficient and better performing railway, delivering value for passengers, freight customers and taxpayers into the next decade and beyond.
“Network Rail is increasingly devolving responsibilities to local managers who can work with local communities and businesses. We propose to support this by regulating the company in a different way, looking separately at its national and local responsibilities.
“To be successful, we need everyone’s ideas and involvement, both on this consultation and throughout the review.”
2018 periodic review will determine:
- Network Rail Infrastructure Limited’s (Network Rail’s) outputs and funding in control period 6 (CP6, which we expect to run from 1 April 2019 to 31 March 2024). This will feed through into the service passengers and freight customers receive and, together with taxpayers, ultimately pay for;
- the charges that Network Rail’s passenger, freight and charter train operator customers will pay for access to its track and stations in CP6; and
- the wider ‘regulatory framework’, including the financial framework for Network Rail and the incentives to encourage it and train operators to perform well.
The consultation document reflects both the ORR’s work over the last year and the significant wider debate on Network Rail’s structure and broader issues. Its purpose is to:
- generate a discussion on how PR18 can support better outcomes for passengers, freight customers and taxpayers;
- seek views on our proposed priorities and objectives and the broad scope of the review;
- enable stakeholders to comment on our proposed high-level approach to PR18 and contribute views and ideas on the potential policy framework that could support this; and
- explain the proposed process for PR18, including how we would engage with stakeholders, to enable them to plan their involvement.
ORR’s Director of Railway Markets and Economics, John Larkinson has written a blog introducing the PR18 Review in more detail. Read it here.