This section gives a brief overview of the 2013 periodic review (PR13) of Network Rail's outputs and funding for control period 5 (2014-19).
At the heart of the 2013 periodic review (PR13) is our assessment of what Network Rail must achieve in the period 2014-19, the funding it required for this, and the incentives needed to encourage delivery and outperformance.
The review also looks at how Network Rail should work more closely with train operators, suppliers and others to reduce costs and deliver more for customers.
As part of the 2013 periodic review we determined Network Rail's outputs and expenditure separately for England & Wales, and for Scotland.
Our objective for the periodic review:
To protect the interests of customers and taxpayers by ensuring our determination enables Network Rail and its industry partners to deliver or exceed all the specified outcome and output requirements safely and sustainably, at the most efficient levels possible comparable with the best railways in the world by the end of the control period...
Periodic review 2013: Network Rail's plans for the next five years – 2014-19 (Control Period 5)
As the regulator, it's our responsibility to ensure that Network Rail delivers what the Westminster and Scottish governments want – and provides real value for money for customers and taxpayers. This covers everything from running and maintaining the existing rail network, right up to developing new facilities and services. Every five years, we conduct a periodic review of Network Rail's plans for the next control period.
These pages explain:
- Background to the 2013 periodic review
- Our decisions for 2014-2019
- Regulating Network Rail 2014-19
- Rail industry costs
- Key stages of the review process
- Key dates
This final determination focuses on the following key principles:
- delivering what matters to passengers and other customers;
- more effective and prioritised spending on renewing the rail network; and
- working more closely and in more detail with Network Rail to drive performance upwards.
We have set Network Rail targets which are stretching, but deliverable through improved performance – and which represent value for money to taxpayers and customers. The key priorities include:
- delivering what matters to passengers – nine out of ten regional, Scottish, Southeast and London passenger trains to run on time, with fewer serious delays or cancellations on mainline long distance services
- creating savings for taxpayers by delivering the rail programme for £1.75 billion less than Network Rail's original estimates
- improving the network, including building new stations and facilities, and improving existing ones;
- improving the network's reliability and resilience by ensuring much tighter management of track, equipment and structures; and
- maintaining a safe network, including improved worker safety and safety at level crossings.
You can also access the full final determination on our website.