Economic regulation

In our latest annual assessment, we find that Network Rail has continued to deliver efficiencies in how it operates, maintains and renews the national rail infrastructure. However, we also report that the company will deliver fewer renewals than originally planned.

The rail regulator’s annual assessment of Network Rail shows passenger and freight train cancellations reduced in Great Britain in the year to March 2026, while punctuality remained broadly stable. Network Rail exceeded its efficiency target, but inflationary pressures mean reduced plans for renewing the railway. Network Rail must better demonstrate how it will mitigate the effects of renewals