REG - Office of Rail&Road Stagecoach Group PLC FirstGroup PLC Go-Ahead Group PLC Serco Group PLC - ORR statement re REBS mechanism payments 2014-15

SercoAnnouncement

31/03/2016 15:05

RNS Number : 7550T
Office of Rail and Road
31 March 2016
Office of Rail and Road
Statement 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.

This information is provided by RNS
The company news service from the London Stock Exchange
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