Network Rail has failed to meet the required 23.5% efficiency savings in Control Period 4 (April 2009 – March 2014), the Office of Rail Regulation reports.
Network Rail’s 15.5% savings fell 8.0% short of the target, largely due to additional work – mainly enhancements and renewals – that the organisation was required to carry out (and which were not included in the PR08 determination, the periodic review of 2008). There have been increases in all categories of...
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