31st Mar 2016 15:00
Office of Rail and RoadStatement re REBS mechanism payments 2014-15
31 March 2016
We have today published the payments due between Network Rail and the twelve train operators participating in the route-level efficiency benefit sharing mechanism (REBS) for 2014-15. The payments are shown in the table below.
Under the mechanism train operators share some of the rewards or costs of Network Rail's performance against its funding and outputs settlement for Control Period 5 (2014-15 to 2018-19).
Summary of net payments between Network Rail and operators
Operator | Owning Group | Payment from operator to Network Rail (£) | Payment from Network Rail to operator (£) |
Chiltern Rail | Arriva | 14 | |
East Coast | HM Government | 1,491 | |
Virgin East Coast | 90% Stagecoach Group plc 10% Virgin | 16,987 | |
ScotRail | FirstGroup plc | 16 | |
Govia Thameslink Railway | 65% Go-Ahead Group plc 35% Keolis | 221,084 | |
First Capital Connect | FirstGroup plc | 483 | |
London Midland | 65% Go-Ahead Group plc 35% Keolis | 2,222 | |
Northern Rail | 50% Serco Group plc 50% Abellio | 12 | |
Southeastern | 65% Go-Ahead Group plc 35% Keolis | 4,036 | |
Southeastern (direct award) | 65% Go-Ahead Group plc 35% Keolis | 3,460 | |
Virgin West Coast | 49% Stagecoach Group plc 51% Virgin | 30 | |
First Hull Trains | FirstGroup plc
| 11,926 | |
Total | 232,848 | 28,913 |
Note: London & South Eastern Railway, trading as "Southeastern", was the train operating company for the South Eastern franchise, which ended during 2014-15. The company operated the franchise under a direct award from 12 October 2014.
More detailed information is available at: Addendum to annual efficiency and finance assessment of Network Rail 2014-15: Route-level efficiency benefit sharing (REBS) payments 2014-15
Notes:
1. The Office of Rail and Road (ORR) is the independent safety and economic regulator for Britain's railways and the independent monitor of Highways England.
Related Shares:
FirstgroupGOG.LSGC.LSerco