New licence conditions compel Railtrack to provide more and better information

11 April 2001
ORR/12/01

The Rail Regulator, Tom Winsor, today modified Railtrack's network licence to extend one licence condition and incorporate two important new licence conditions. These modifications provide for:

• a system of reporters to supply an independent assessment of the robustness of information that the company supplies about its stewardship of the rail network;
• an annual return of information from Railtrack about the condition of the network and the work it has carried out. This will consolidate existing requirements for information with a comprehensive return incorporating that information, and such further data as may be specified, in a well-constructed and easily accessible form; and
• preparation of regulatory accounts by Railtrack on its financial performance and financial position in a form that will provide greater transparency for both the Regulator and others.

The Regulator published a statutory consultation document on these proposals in March 2001, to which no objections were received. Consultees were broadly supportive, and the Health and Safety Executive (HSE) has expressed its full support.

Commenting on the new licence conditions, Tom Winsor said:

"These changes improve Railtrack's accountability for its stewardship of the network by providing independent scrutiny of how Railtrack is discharging its obligations. This will make it easier to assess whether Railtrack is maintaining, renewing and developing the network on an ongoing basis and, if not, what remedial action is needed."

Notes for editors:

1. The reporters will be provided by consultancy companies, who will be appointed by Railtrack with the approval of the Regulator, and will be funded by Railtrack. The reporters will owe a duty of care to the Regulator.
2. The Regulator's original proposals for the three licence modifications were set out in The periodic review of Railtrack's access charges: provisional conclusions on the incentive framework, Office of the Rail Regulator, London, April 2000.
3. The consultation document Notice of proposed modifications to Railtrack's network licence: reporter, regulatory accounts and annual return, was published by the Office of the Rail Regulator, London. March 2001.
4. Railtrack's modified network licence.

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