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:

OperatorOwning GroupPayments from operator to Network Rail (£)Payments from Network Rail to operator (£)
Chiltern Rail100% Arriva-9 
Greater Anglia100% Abellio-21 
Virgin East Coast90% Stagecoach Group plc
10% Virgin
South West Trains 100% Stagecoach Group Plc-3 
Caledonian Sleeper100% Serco Group Plc-137,525 
Govia Thameslink Railway65% Go-Ahead Group plc
35% Keolis
London Midland65% Go-Ahead Group plc
35% Keolis
Southeastern65% Go-Ahead Group plc
35% Keolis
Virgin West Coast49% Stagecoach Group plc
51% Virgin
First Hull Trains100% FirstGroup plc-59,377 
Total -3,103,079(nil)

More detailed information is available at:


  1. 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.
  2. 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.