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2003-10-17 NET-001
Network Rail

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Network Rail response to rail regulator’s draft conclusions


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Office of the Rail Regulator
ORR



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Network Rail

Network Rail response to rail regulator’s draft conclusions
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2003-10-17 Rail Regulator identifies massive savings for Network Rail spending (Office of the Rail Regulator)

2003-10-17 A tough decsion [[decision]] but the right one says ATOC (ATOC)

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date
17 October 2003
source Network Rail
type Press release



National

Network Rail today welcomes the contribution from the Rail Regulator to the ongoing interim review process. Over the past months the process has demonstrated the close working relationship between the parties, with the appointment of joint consultants and an unprecedented degree of cooperation. Network Rail’s initial business plan in March forecast five-year expenditure of £35bn.

Following intensive work to improve efficiency and adjust the required outputs this forecast was reduced to £24.5bn by September. However, we also highlighted the fact that further work was still required in some areas and that important choices still needed to be made about the rate at which the renewals backlog should be addressed. The Regulator has concluded that an appropriate level of expenditure would be £22.7bn.

Network Rail chief executive John Armitt said: “The further efficiency targets that the Regulator has set out will be challenging, but we will be looking in the coming weeks to see how these further savings may be achieved and to understand the implications for performance and asset condition. We look forward to responding fully to the document in due course.”

Contact information

Media Relations (National)
020 3356 8700
mediarelations@networkrail.co.uk



Railhub Archive ::: 2003-10-17 NET-001





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