Periodic review 2023 (PR23)

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Information about the 2023 periodic review of Network Rail outputs and funding for control period 7.

Periodic reviews are one of the principal mechanisms by which ORR holds Network Rail to account, and secures value for money for users and funders of the railway.

Our PR23 final determination set out our decisions on Network Rail's outputs and funding for control period 7 (CP7), which runs from 2024 to 2029. 

Published in October 2023, it focused on four objectives: safety, performance, asset sustainability, and efficiency.

Control period 7 began on 1 April 2024. Read our CP7 letter to stakeholders and our letter to Network Rail on how we will hold the company to account and our further work in CP7.

For an overview of our approach watch our video featuring Director of economics, finance and markets Will Godfrey.  

PR23 publications

All our PR23 publications, including consultations, notices and reports.

PR23 charges and incentives

Publications and information relating to charges and incentives for PR23.

PR23 legal notices

All our PR23 legal notices.

PR23 final determination

Full details of our overall decisions.

PR23 draft determination

Look back at the draft decisions.

PR23 timeline

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We have produced an infographic reflecting the PR23 timeline. The timeline is also available in table format below.

Phase 1 (2022)

  • Network Rail develops initial view of CP7 funding and outputs
  • ORR advises funders to inform HLOSs/SOFAs
  • DfT and Transport Scotland produce HLOSs & SOFAs

Phase 2 (2023)

  • ORR scrutiny of Network Rail’s detailed CP7 plans
  • ORR draft and final determination

Phase 3 (2024) 

  • Implementation
Period Milestones
April to June 2021 We published PR23 launch letter 
We published Schedule 8 consultation 
July to September 2021 We published access charges consultation 
We published Schedule 4 consultation 
January to March 2022 Network Rail provided initial submission
We published guidance on how NR’s funding and outputs are determined
April to June 2022 We published charges and incentives consultations
We provided advice to funders
We published review initiation notices
We provided first set of supplementary advice to Department for Transport
July to September 2022 We published policy framework consultation
We published technical consultation on success measures
We published our guidance to Network Rail on the preparation of its Strategic Business Plan 
We provided second set of supplementary advice to Department for Transport
We provided first set of supplementary advice to Scottish Ministers
We provided second set of supplementary advice to Scottish Ministers
October to December 2022 We concluded on charges and incentives frameworks for PR23

We published extension to review initiation notice for England and Wales
Secretary of State provided HLOS and SoFA

We published financial framework consultation
We published policy framework decisions

We published extension to review initiation notice for Scotland
We published ‘Conclusion of Phase 1’ update letter 
January to March 2023 Scottish Ministers provided their HLOS and SoFA 

Network Rail provided Strategic Business Plan (SBP) for England and Wales and interim SBP for Scotland
April to June 2023 We published holding Network Rail to account policy consultation

Network Rail published its Strategic Business Plan (SBP)

We published draft determination for England & Wales and Scotland
July to September 2023 We consulted on changes to access contracts
We consulted on open access airport services

Network Rail published Strategic Business Plan for Scotland
October to December 2023 We published final determination for England & Wales and Scotland

We issued Delivery Plan Notice
We serve Review Notices
January to March 2024 We conclude on changes to access contracts

We serve Notices of Agreement to all affected parties

We serve Review Implementation Notices

Network Rail publishes CP7 delivery plan
April to June 2024 Start of CP7