Statement re REBS mechanism payments 2015-16
31 March 2017
The Office of Rail and Road has today published the payments due between Network Rail and the ten train operators participating in the route-level efficiency benefit sharing mechanism (REBS) for 2015-16. The payments are shown in the table below.
Under the mechanism train operators share some of the rewards or costs of Network Rail's performance against its funding and outputs settlement for Control Period 5 (2014-15 to 2018-19).
Summary of net payments between Network Rail and operators:
| Operator | Owning Group | Payments from operator to Network Rail (£) | Payments from Network Rail to operator (£) |
|---|---|---|---|
| Chiltern Rail | 100% Arriva | -9 | |
| Greater Anglia | 100% Abellio | -21 | |
| Virgin East Coast | 90% Stagecoach Group plc 10% Virgin | -1,787,034 | |
| South West Trains | 100% Stagecoach Group Plc | -3 | |
| Caledonian Sleeper | 100% Serco Group Plc | -137,525 | |
| Govia Thameslink Railway | 65% Go-Ahead Group plc 35% Keolis | -1,103,174 | |
| London Midland | 65% Go-Ahead Group plc 35% Keolis | -5,832 | |
| Southeastern | 65% Go-Ahead Group plc 35% Keolis | -10,102 | |
| Virgin West Coast | 49% Stagecoach Group plc 51% Virgin | -2 | |
| First Hull Trains | 100% FirstGroup plc | -59,377 | |
| Total | -3,103,079 | (nil) |
More detailed information is available at: https://orr.gov.uk/__data/assets/pdf_file/0020/24527/route-level-efficiency-benefit-sharing-payments-2015-16.pdf
Notes
- The Office of Rail and Road (ORR) is the independent safety and economic regulator for Britain's railways and the independent monitor of Highways England.
- A positive number indicates a REBS payment from Network Rail to an operator; a negative number indicates a REBS payment from an operator to Network Rail. Payments exclude any VAT applicable.