INDUSTRY NEWS
NETWORK RAIL ON TARGET FOR EFFICIENCY SAVINGS, RAIL REGULATOR REPORTS
Network Rail has achieved efficiencies of £775m over the past three years and is currently on target to deliver required savings by 2014, says a report published by the Office of Rail Regulation (ORR).
ORR’s annual assessment of Network Rail’s efficiency and financial performance examines the amount of money that Network Rail has spent and what it has delivered in return for the money it has received from train operators and the governments in London and Edinburgh. In particular, the report assesses Network Rail’s progress in meeting the regulator’s stretching efficiency target for its current five year funding period (2009-2014) of cutting £1bn annually from the cost of operating, maintaining and improving Britain’s rail infrastructure. It also reports on the Efficiency Benefit Sharing Mechanism (EBSM), established to incentivise Network Rail and train operators to work together to achieve savings.
Network Rail has implemented a number of initiatives to reduce its costs to this point in
its funding period. These include rationalising signalling and control centres and reorganising its rail maintenance function, resulting in reduced staff costs and reduced use of sub- contractors.
However, the rail regulator’s assessment of financial performance is £172m less than that reported by Network Rail taking account of the company’s failure to deliver required levels of train punctuality and reliability. The regulator also has concerns about the sustainability of Network Rail’s management of parts of the railway infrastructure, such as bridges, tunnels and major structures, and the company itself has not reported efficiencies in this area.
ORR’s Chief Executive, Richard Price, said:
“It is essential that the rail industry delivers significant improvements in value for money. Reducing the costs of Britain’s railways is vital to help ease the pressure on tax and fare payers and freight customers.
“We welcome the progress that Network Rail is making in improving its efficiency and that
“It is essential that the rail industry delivers signifi cant improvements in value for money. Reducing the costs of Britain’s railways is vital to help ease the pressure on tax and fare payers and freight customers.”
the company is currently on track to meet the stretching target we set for reducing its costs. However, we remain concerned about the company’s performance in line with regulatory targets, with serious problems still affecting punctuality on key services. Our assessment has been adjusted to reflect these shortfalls. We expect Network Rail to deliver improved performance and meet its targets by 2014, and will keep up the pressure on the company to do so.”
Network Rail approved, the Lightweight Marker Board and Stiklite Possession Limit Board weigh only 2kgs; easy to transport; run on 2 “C” cell batteries and come complete with an integral railtop clamp.
Slimline NOT TO BE MOVED Hanging Lamp – lightweight (2kg) sign comprising latest LED technology for improved visibility. Powered by 2 “C” batteries providing at least 90 days continuous use. Roll-Up and Magnetic versions also available.
Signs can be made to your specification.
Contact our sales office on: 020 8428 2027 or email us at
mcelectron@aol.com
to arrange a trial of our equipment or visit our website to see our full range of products.
www.mcelectronics.co.uk
8 RailCONNECT
WWW.THECONNECTSERIES.CO.UK
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84