This would see Network Rail deliver efficiencies of between 16% and 28% in addition to the 21% efficiency improvement it should achieve in the current period which ends in 2014, the ORR reckons.
The rail regulator has set out its assessment of Network Rail’s overall revenue requirement in England and Wales for the period April 2014 to March 2019, taking account of the costs of the existing railway and agreed enhancements.
The full text of the letter from the rail regulator to transport secretary Justine Greening is here.
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