Reference: ORR/014/2011
Date published: 26 July 2011
Start date: 26 July 2011
Closing date: 14 October 2011
On 25 May 2011 we published our first consultation document on the periodic review 2013 (PR13).
The document explains the context, process and timetable; sets out our proposed objective for PR13 and consults on a range of key issues relating to the approach we will take to determining Network Rail's outputs and funding for control period 5 (CP5), which runs from 1 April 2014 to 31 March 2019.
We said in the first consultation that we would publish a further document on how we establish the level of efficient expenditure, which is a central part of the periodic review process.
The purpose of this new document was to:
- explain our approach to establishing the level of efficient expenditure for CP5, including the methods we intend to use, the range of studies we intend to undertake and the work Network Rail will do; and
- seek views on our proposed approach.
We are grateful to all those who took the time to respond and to those who attended our workshops.
Network Rail currently spends around £6bn a year on operating, maintaining, renewing and enhancing the network and it is essential for its customers, passengers and taxpayers that the company does not spend more than it needs to in order to meet its obligations.
Consultation document
Next steps
We have analysed the consultation responses and have taken them into account in our thinking around efficient expenditure.
As part of the consultation, we held an industry workshop on efficient expenditure in September 2011.
Our work on assessing the efficient levels of expenditure for Network Rail has progressed following this consultation, and we will be updating stakeholders in an industry workshop which will be held on 26 of October 2012.