Periodic review 2023 of Network Rail: final determination


31 October 2023

Our final determination for the periodic review 2023 (PR23) of Network Rail sets out our assessment of Network Rail’s plans for spending £43.1 billion for Britain’s railway network in control period 7 (CP7). CP7 runs from 1 April 2024 to 31 March 2029.

ORR's periodic review process is one of the principal mechanisms by which we hold Network Rail to account and secure value for money for users and funders of the railway. 

PR23 determines what Network Rail is expected to deliver with respect to its operation, support, maintenance and renewal (OSMR) of the network during CP7  and how the available funding should be best used to support this.

Our focus during PR23 has remained on the four objectives we outlined in our launch letter in June 2021: safety, performance, asset sustainability and efficiency.

Our final determination follows our consultation on the PR23 draft determination. We consulted on our draft determination from 15 June to 31 August 2023. 

Settlement documents

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Settlement documents for each of the England & Wales regions, Scotland and the system operator detailing our expectations about the funding that will be allocated to each region and the system operator and the outputs that will be delivered by them.

See our PR23 final determination: summary of conclusions and settlement for Scotland document for detailed information for Scotland.

Supporting documents

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Policy positions

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Policy positions covering access charges, performance and possessions incentive regimes, our intended approach for the financial framework and for managing change during CP7.

With the exceptions of Managing Change and Holding to Account, our policy position documents include our assessment of stakeholder views on our proposals:

We have also published a consolidated set of assessments of the impact of our final policies on the Schedules 4 and 8 incentives regimes and access charges on affected parties:

Delivery plan for CP7

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We expect Network Rail to issue a delivery plan for CP7 that is consistent with our final determination. We have published a delivery plan notice alongside our final determination which sets out expectations for the scope and timing of the delivery plan.

Network Grant for CP7

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