News

Statement re REBS mechanism payments 2015-16

30 March 2017
Body

Under the mechanism train operators share some of the rewards or costs of Network Rail's performance against its funding and outputs settlement for Control Period 5 (2014-15 to 2018-19).

Summary of net payments between Network Rail and operators:

OperatorOwning GroupPayments from operator to Network Rail (£)Payments from Network Rail to operator (£)
Chiltern Rail100% Arriva-9 
Greater Anglia100% Abellio-21 
Virgin East Coast90% Stagecoach Group plc
10% Virgin
-1,787,034 
South West Trains 100% Stagecoach Group Plc-3 
Caledonian Sleeper100% Serco Group Plc-137,525 
Govia Thameslink Railway65% Go-Ahead Group plc
35% Keolis
-1,103,174 
London Midland65% Go-Ahead Group plc
35% Keolis
-5,832 
Southeastern65% Go-Ahead Group plc
35% Keolis
-10,102 
Virgin West Coast49% Stagecoach Group plc
51% Virgin
-2 
First Hull Trains100% FirstGroup plc-59,377 
Total -3,103,079(nil)

More detailed information is available at: https://orr.gov.uk/__data/assets/pdf_file/0020/24527/route-level-efficiency-benefit-sharing-payments-2015-16.pdf

Notes

  1. The Office of Rail and Road (ORR) is the independent safety and economic regulator for Britain's railways and the independent monitor of Highways England.
  2. A positive number indicates a REBS payment from Network Rail to an operator; a negative number indicates a REBS payment from an operator to Network Rail. Payments exclude any VAT applicable.