Network Rail agrees extra infra spending after ORR review
Network Rail is proposing to spend an extra £600m on infrastructure following a review of its investment plans by the Office of Rail and Road.
The ORR called for the extra infrastructure cash in its initial response to Network Rail’s spending plans for the five years from 1 April 2024 – known as Control Period 7 (CP7).
Revised proposals show total spending plans of £43.1bn across the UK with more money set aside for core infrastructure spending.
The regulator said: “ORR welcomes Network Rail’s increase in spending on renewing core assets (such as track, structures and earthworks).
“ORR considers that Network Rail has a suitable framework to understand and manage the change in risk from carrying out fewer renewals and a move to greater maintenance of existing assets.”
Network Rail will now flesh-out delivery plans for the CP& investment programme.