Network Rail regulation
Network Rail is the monopoly owner and operator of the railway network, including track, signalling, bridges, tunnels and stations.
We hold network rail to account for delivering what it promised – at the amount it agreed to do it for – and we require it to meet its obligation to provide a safe, high-performing, and efficient railway.
We do this by enforcing compliance with its licences and by conducting five-yearly reviews that set its funding and what it must achieve within the relevant control period.
Periodic review 2018 (PR18)
At the heart of the review is our assessment of what Network Rail must achieve from 2019 to 2024, the funding it requires for this, and the incentives needed to encourage delivery and outperformance.Find out more about PR18
We hold Network Rail to account for delivering what it promised by enforcing compliance with its licences and by conducting five-yearly reviews that set its funding and what it must achieve within a control period.
We monitor Network Rail's performance on a continuous basis - against: targets in the latest access charges review, obligations in its network licence and forecasts in its own business plan.
Network Rail operates under a network licence. This licence contains a set of conditions under which Network Rail must operate.