- Home
- 2002
Notice for Network Rail's first annual business plan issued by Rail Regulator
| 13 December 2002 Tom Winsor, the Rail Regulator, today set out his requirements for Network Rail's first annual business plan. This will replace the annual Network Management Statement previously published by Railtrack, and will provide vital information for his interim review of track access charges. Tom Winsor said: "With the formation of Network Rail, the company's business planning is now integrated with the requirement to produce information to the Regulator about stewardship of the network. Like any company, Network Rail will need to produce a business plan. Today's notice, which has been prepared in consultation with Network Rail and the Strategic Rail Authority, sets out the wider public interest requirements for that business plan. The plan will be published." Under Condition 7 of its network licence, the company is required to produce its annual business plan in such detail, format, structure and standard, and in respect of such periods - within the ten year period to which the plan relates - as is laid down by the Rail Regulator. The information is needed by the Regulator to monitor Network Rail's performance and plans. It is also vital to train operators, industry suppliers and funders in their forward planning. The information provided, particularly the plans for 2004/5 and beyond, will also feed into the interim review of track access charges being carried out by the Rail Regulator. This is due to report by the end of 2003. The notice published today schedules the specific requirements laid down by the Rail Regulator. These include identifying several distinct sections within the plan covering asset management and engineering, operations and plans showing the activities on each route. The Regulator has required that the plan should be at varying levels of detail, depending on how far it looks into the future. For 2003/4, the plan should be based on firmly planned specific activities; for 2004/5 and 2005/6 it should be based on plans for each of Network Rail's zones, as far as possible based on specific identified work. Beyond that, it should be based on projections of the work that is needed. The 2003 Network Rail Business Plan Notice is available from the ORR website, and from the ORR Librarian, Sue MacSwan, 1 Waterhouse Square, 138-142 Holborn, London EC1N 2TQ, tel: 020 7282 2001, fax: 020 7282 2045, e-mail: rail.library@orr.gsi.gov.uk. Notes to editors:The purpose of Condition 7 of Railtrack's network licence is to secure: the operation and maintenance of the network; the renewal and replacement of the network; and the improvement, enhancement and development of the network, in each case in accordance with best practice and in a timely, efficient and economical manner so as to satisfy the reasonable requirements of persons providing services relating to railways and funders in respect of the quality and capability of the network. Under the recently modified Condition 7, the business plan must be prepared in such level of detail, in such format and structure, to such standard and in respect of such periods (within the ten-year period to which the business plan relates) as the Regulator specifies by notice to the licence holder. The Regulator has consulted Network Rail on the content of the notice. The business plan will set out projections of activities for the period 2003/4 - 2012/3. This will be an important input into the Regulator's interim review of access charges. It will also set out the underlying approach to asset management and engineering and to operations. Railtrack is now a fully owned subsidiary of the Network Rail group and is planning to change its name to Network Rail shortly. Press enquiries:ORR Press Office : 020 7282 2089 |