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2003-12-19 SRA-001
Strategic Rail Authority

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Rail Regulator's interim review


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Office of the Rail Regulator
ORR
Network Rail



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Strategic Rail Authority

Rail Regulator's interim review
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related documents


2003-12-12 Regulator establishes sound basis for improved delivery by Network Rail (Office of the Rail Regulator)

2003-12-12 Network Rail welcomes final conclusions of interim review (Network Rail)

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date
19 December 2003
source Strategic Rail Authority
type Press release

note ORR/22/03


The Strategic Rail Authority (SRA) wishes to join with other organisations that
have welcomed the publication of the Rail Regulator's Final Conclusions with
respect to his recent Access Charges Review. The SRA welcomes in
particular the decision of the Rail Regulator to invite the finalisation of a
financing plan, by no later than the end of February 2004, that makes use of
prudent and effective borrowing by Network Rail. The SRA is already
engaged with Network Rail and the Department for Transport on developing
this plan further, following extensive and co-operative discussions, which have
included the Office of the Rail Regulator, over several months.

The SRA also welcomes the Regulator's endorsement of the West Coast
Strategy, and his support for all of its outputs. It notes that the Regulator
believes the latter stages should be deferred by 18/24 months, a view that the
SRA has consistently resisted. The SRA intends to use the next 6-8 weeks to
review options for the West Coast in the light of the Regulator's determination,
taking account of overall (franchise and infrastructure) public sector funding
limits. It has agreed with Network Rail that, until this work is complete, there
will be no changes at all to the agreed programme of works on the ground.

It follows that now is not the right time to respond in detail to the Regulator's
conclusions. The critical work on financing Network Rail will be comple te at
the end of February, and so too will the SRA's review of the implications for
the West Coast. Accordingly, the SRA plans to make a statement on the
Interim Review, and in particular the West Coast element, in March 2004.

Notes to Editors
1. Access Charges Review 2003: Final Conclusions was published by the
Office of the Rail Regulator on 12 December 2003.
2. The West Coast Main Line Strategy was published by the Strategic Rail
Authority on 16 June 2003.


Railhub Archive ::: 2003-12-19 SRA-001





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