Economic regulation

Our efficiency and finance assessment of Network Rail for 2024 relates to the fifth year of control period 6 (CP6). It also looks back at CP6 as a whole, which ran from 1 April 2019 to 31 March 2024.

This page includes information about the 2024 periodic review of HS1 Ltd (PR24) and will be updated as the review progresses.

As the joint safety and economic regulator for Britain’s railway, we are reviewing how costs and benefits are assessed for safety initiatives, and whether reasonable practicability is systematically tested by duty holders.

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.

Our review of the access charges framework for the national rail network.