Office of Rail Regulation Chief Executive Richard Price today outlined some of the key challenges emerging from Sir Roy McNulty's rail value for money review and how these are being reflected in priorities for the rail regulator. Speaking at a rail industry event Richard Price identified the following challenges:
- the need for greater transparency on funding flows and costs across the sector.
- assuring delivery of current performance commitments and safety standards during a period of industry change.
- successful delivery of the 2013 periodic review and ensuring that this provides effective incentives across the sector.
- ensuring that industry reform, including Network Rail's devolution and changes to rail franchises, delivers real and lasting benefits to rail users and taxpayers.
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