Economic regulation

All our PR23 publications, including consultations, notices and reports will be added to this page during the review.

On 29 November 2023 we opened an investigation into Network Rail’s Wales & Western region’s compliance with the Network Licence. This was because despite the delivery of planned improvement activities, the train performance levels experienced by customers continued to be below expectations.

Network Rail’s regulatory accounts provide information on Network Rail’s financial performance on a regulatory basis.

Network Rail's network licence includes a condition providing for independent experts (reporters) to be appointed by the network operator (Network Rail), to provide ORR with advice on different aspects of Network Rail’s performance.

Condition 17 of Network Rail's network licence safeguards against the inappropriate disposal of land assets.

A list of consents granted or denied since the modification to Condition 16 (financial ring-fence) on 18 Nov 2002.

Our efficiency and finance assessment of Network Rail for 2023 relates to the fourth year of control period 6 (CP6), which runs from 1 April 2019 to 31 March 2024.

Information about the 2023 periodic review (PR23) of Network Rail's outputs and funding for control period 7.

How we hold Network Rail to account against the network licence.