Possessions regime workshop
We held a half day industry workshop on the Schedule 4 possessions regime on 11 November 2011.
Schedule 4 is the regime by which operators are compensated for possessions (delays and cancellations due to Network Rail's engineering work, and it is intended to incentivise Network Rail to plan engineering work early and efficiently.
The workshop provided stakeholders with the opportunity to explore and debate:
- the effectiveness of the current regime in incentivising the efficient management of possessions and in compensating operators for associated losses;
- at a high level, the degree to which Schedule 4 should be subject to further review during the periodic review 2013 (PR13); and
- the merits of the model contract versus bespoke arrangements, particularly in context of wider reform to support closer working between operators and Network Rail at the route level.
We provided stakeholders with opportunities to engage on more detailed Schedule 4 issues later in PR13.