Periodic review 2023 (PR23)

Body
Components

This section includes information about the current 2023 periodic review (PR23) of Network Rail's outputs and funding for
control period 7 (2024 – 2029).

Periodic reviews are one of the principal mechanisms by which ORR holds Network Rail to account, and secures value for money for users and funders of the railway.

PR23 will determine what Network Rail must deliver in control period 7 (CP7) and the funding it requires to do this.

On the 17th June 2021 we published an open letter to launch PR23 and set out the focus of PR23 – namely safety, performance, asset sustainability, and efficiency.

PR23 timeline Collapse accordion Open accordion

We have produced an infographic reflecting the indicative PR23 timeline. The timeline is also available in table format below.

Phase 1 (2021-2022)

  • Network Rail develops initial view of CP7 funding and outputs
  • ORR advises funders to inform HLOSs/SOFAs
  • DfT and Transport Scotland produce HLOSs & SOFAs

Phase 2 (2023)

  • ORR scrutiny of Network Rail’s detailed CP7 plans
  • Engagement on plans, as necessary
  • ORR draft and final determination

Phase 3 (October to December 2023 and January to June 2024) 

  • Implementation
Period Milestones
Jul-Sep 2021 We publish PR23 launch letter and Schedule 8 consultation
We publish access charges consultation
We publish Schedule 4 consultation
Jan-Mar 2022 Network Rail's pre HLOS/SoFA submission
We publish consultation on the regulatory framework for CP7
Jul-Sep 2022 Secretary of State provides its HLOS and SoFA
Oct-Dec 2022 Scottish Ministers provide their HLOS and SoFA
Jan-Mar 2023 Network Rail publishes Strategic Business Plan (SBP)
Apr-Jun 2023 We publish and consult on our draft determination for England & Wales and Scotland
Oct-Dec 2023 We publish our final determination for England & Wales and Scotland
We commence formal process to change track and station access contracts
Jan-Mar 2024 Network Rail publishes CP7 delivery plan
Apr-Jun 2024 Start of CP7

* There will be further consultations on the specific design of Schedule 8, access charges and Schedule 4 in the first half of 2022 –the consultations on these topics will provide more information on next steps.

** The outcome of the comprehensive spending review in autumn 2021 may go some way to setting the funding envelope for the first two years of PR23 and is likely to be an important factor in determining the content of the HLOSs and SoFAs.

*** This timeline may change to enable us to adapt as the implementation plan for the Williams-Shapps Plan becomes clearer.

PR23 publications Collapse accordion Open accordion

All our PR23 publications, including consultations, notices and reports will be added to our publications section during the review.

PR23 - charges and incentives Collapse accordion Open accordion

Publications and information (including background research and factsheets) relating to charges and incentives for PR23 can be found in the charges and incentives section.