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Glossary

Browse the A-Z below for some rail-specific terms that are used in this website, together with their meanings.
 

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O

OFT

The Office of Fair Trading.

OLE

Overhead line electrification equipment.

Open access

Open access passenger train operators are those who operate services purely on a commercial basis, i.e. not under either a franchise or a concession agreement. These are companies who identify an opportunity to run a service which is not currently being provided, and they apply to the Office of Rail Regulation (ORR) for the necessary track access rights and to Network Rail for train paths in the timetable. Open access passenger operators include Hull Trains and Grand Central.

OPEX

Operating expense: as distinct from CAPEX (capital expenditure), OPEX refers to ongoing costs incurred by Network Rail to maintain the railway infrastructure. Examples of OPEX include routine safety checks on the railway tracks or repairing signalling when it fails.

ORBIS

Offering Rail Better Information Services: an eight year programme by Network Rail with the aim to improve the information they hold about infrastructure, supporting Network Rail’s delivery of best practice asset management, consistent with its network licence obligations.