Dan Brown, Director of Economics, Markets and Strategy, and Catherine Williams, Deputy Director of Regulatory Strategy, took part in an RFG members-only roundtable on 20 July to discuss PR (Periodic Review) 23.
This Periodic Review 2023 sets the funding and outputs for the five-year period from 1 April 2024 to 31 March 2029 (known as Control Period 7).
To put that in context, in Control Period 6 (CP6) the process provided Network Rail with £40bn of funding to maintain and renew its track, bridges and viaducts, as well as the wider rail network.
The ORR says that rail reform means it will need to ensure there is clear ownership and accountabilities on Network Rail/Great British Railways to deliver. CP7 and rail reform are very different processes but will be running parallel.
RFG members were able to question Dan and Catherine and they both encouraged all stakeholders to get involved in the upcoming consultations and working groups.