The Office of Rail and Road (ORR) has announced that it has proposed that train operators using High Speed 1 (HS1) will have to pay £26 million per year to keep its assets in good condition.
The Draft Determination will now go out to public consultation until 11 November, before the Final Determination of the bill for the next five years is announced in January.
The ORR has accepted the majority of HS1 Ltd's proposals but made recommendations about how the asset should be managed.
The consultation will ask for stakeholder views on our Draft Determination in light of those considerations.
What did the officials say?
John Larkinson, ORR Chief Executive, said:
“High Speed 1 is a valuable public asset and our role is to provide independent assurance that High Speed 1's assets can be kept in good condition over the long term at the lowest possible cost. This is important to make sure that operators and, in turn, passengers and freight users get a good deal now but not at the expense of future generations.
“We now invite views of stakeholders before announcing our Final Determination in January next year.”
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Well it will come into effect when the UK leaves the EU on the 31st October whether it’ be a deal or no deal.