Rolling stock leasing market investigation

7 April 2009
ORR/12/09

The Office of Rail Regulation (ORR) today welcomed the publication by the Competition Commission (CC) of its final report at the end of its rolling stock leasing market investigation.

Bill Emery, chief executive of ORR, said: “We welcome the publication of the Competition Commission’s final conclusions, and urge the Department for Transport to seriously consider the CC’s recommendations. A more competitive rolling stock market will bring about benefits for both passengers and the funders of the railway.

“We also look forward to working with the CC and other interested parties to finalise the details of how these remedies will be implemented and monitored.”

Notes to editors:

1. ORR announced on 26 April 2007 that it would refer the markets for the leasing of passenger rolling stock to the Competition Commission for further investigation.
2. Under Section 131 of The Enterprise Act 2002, ORR may make a market investigation reference to the CC where it has reasonable grounds for suspecting that any feature, or combination of features, of a market in the United Kingdom for goods or services, prevents, restricts or distorts competition in connection with the supply or acquisition of any goods or services in the United Kingdom or a part of the United Kingdom.
3. The three principal passenger rolling stock leasing companies are: Angel Trains Limited; HSBC (Rail) UK Limited; Porterbrook Leasing Company Limited.
4. The ORR decision document ‘Review of passenger rolling stock leasing markets’ is available on our website at http://www.rail-reg.gov.uk/upload/pdf/325.pdf.
5. The Competition Commission’s final conclusions are available on its website at http://www.competition-commission.org.uk/inquiries/ref2007/roscos/index.htm

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ORR Press Office – 020 7282 2188/2007