ORR publishes regulatory letters on Periodic Review 2008
29 September 2006
ORR/28/06
The ORR has today published three regulatory letters as part of the work it is doing on the 2008 Periodic Review (PR08).
These cover:
- issues and options in relation to Network Rail’s Initial Business Plan 2009-14;
- conclusions on the principles to use in determining the allowance for amortisation in CP4; and
- consultation on the treatment of risk and uncertainty in CP4.
The 2008 Periodic Review (PR08) will set Network Rail’s access charges and outputs for the period 2009-14 (CP4). Under the new processes introduced by the 2005 Railways Act, the Secretary of State and Scottish Ministers will decide on their high-level output specifications (HLOSs) and make statements of the funds available (SoFAs). They are likely to be published in July 2007. Following that it will be for Network Rail to propose the most efficient way of delivering the requirements including those of customers and other funders, and for ORR to determine Network Rail’s outputs and funding requirements.
The options and issues letter seeks views on Network Rail’s Initial Strategic Business Plan published in July 2006 and outlines the work ORR is doing to review that plan
The amortisation letter sets out our conclusions on the principles to apply to the amortisation of Network Rail’s regulatory asset base in CP4.
The risk and uncertainty letter consults on the high-level principles to apply to the allocation of risk and uncertainties between Network Rail, its investors, and funders in the most efficient manner.
Notes to editors
- The three regulatory letters are available from the ORR website at http://www.rail-reg.gov.uk/upload/pdf/pr08-amortisation-let-290906.pdf, http://www.rail-reg.gov.uk/upload/pdf/pr08-options-let-290906.pdf and http://www.rail-reg.gov.uk/upload/pdf/pr08-risk-let-280906.pdf.
- The closing date for responses to the three letters is 22 December 2006.
Press enquiries
ORR Press Office – 020 7282 2188/2007
