Network Rail: updates to the financial framework for ORR's 2018 periodic review

The Office of Rail and Road (ORR) is seeking feedback about the financial issues concerning Network Rail for its 2018 periodic review (PR18) including:

• the possibility of new funding arrangements for some enhancement projects and the implications for the financial framework
• different approaches to setting the cost of capital for Network Rail
• ways of managing the financial risks that could affect Network Rail and its financial sustainability (including at route-level)
• the design of:
  • appropriate financial incentive mechanisms
  • effective arrangements to assess Network Rail’s financial performance and hold it to account