Rail Regulator Orders HS1 Ltd to Further Lower Charges for Train Operators
*The Office of Rail and Road (ORR) has ordered HS1 Ltd to further lower charges for train operators from 2026. This follows a review of the company’s business plan which found that there will be sufficient revenue to do so. The ORR also found that the company’s planned investment in infrastructure and services would improve the experience for passengers.
HS1 Ltd operates the UK’s only high-speed rail line, which runs between London St Pancras and the Channel Tunnel. The company receives payments from train operators for the use of the line, and it is used by services operated by Eurostar, Southeastern, and Great Western Railway.
The ORR’s review found that HS1 Ltd’s revenue will be higher than previously forecast, due to increased passenger numbers and a more efficient use of the line. This means that the company can afford to lower charges without compromising its financial stability.
The ORR also found that HS1 Ltd’s planned investment of £1.1 billion over the next five years will improve the experience for passengers. The investment will include improvements to track and signalling, as well as new rolling stock.
ORR Chief Executive John Larkinson said: “We have reviewed HS1 Ltd’s business plan and concluded that it is in a position to further lower charges for train operators. This will help to make rail travel more affordable for passengers, and it will also support the growth of the high-speed rail market.
“We have also found that HS1 Ltd’s planned investment will improve the experience for passengers. This investment will help to ensure that the high-speed rail line continues to be a reliable and efficient transport option.”
HS1 Ltd Chief Executive Dyan Crowther said: “We welcome the ORR’s decision to allow us to lower charges for train operators. This will help to make rail travel more affordable for passengers, and it will also support the growth of the high-speed rail market.
“We are also pleased that the ORR has recognized our plans to invest £1.1 billion in the high-speed rail line over the next five years. This investment will help to improve the experience for passengers and ensure that the line continues to be a reliable and efficient transport option.”
The ORR’s decision is subject to a final consultation. The consultation will close on 17 March 2023.*
Rail Regulator orders HS1 Ltd to further lower charges for train operators
The AI has provided us with the news.
I’ve asked Google Gemini the following question, and here’s its response.
UK Office of Rail of Road a new article on 2025-01-06 07:00 titled “Rail Regulator orders HS1 Ltd to further lower charges for train operators”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
92