Information about the 2023 periodic review of Network Rail outputs and funding for control period 7.
Periodic reviews are one of the principal mechanisms by which ORR holds Network Rail to account, and secures value for money for users and funders of the railway.
Our PR23 final determination set out our decisions on Network Rail's outputs and funding for control period 7 (CP7), which runs from 2024 to 2029.
Published in October 2023, it focused on four objectives: safety, performance, asset sustainability, and efficiency.
Control period 7 began on 1 April 2024. Read our CP7 letter to stakeholders and our letter to Network Rail on how we will hold the company to account and our further work in CP7.
For an overview of our approach watch our video featuring Director of economics, finance and markets Will Godfrey.
PR23 publications
All our PR23 publications, including consultations, notices and reports.
PR23 charges and incentives
Publications and information relating to charges and incentives for PR23.
PR23 legal notices
All our PR23 legal notices.
Full details of our overall decisions.
Look back at the draft decisions.
PR23 timeline
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We have produced an infographic reflecting the PR23 timeline. The timeline is also available in table format below.
Phase 1 (2022)
- Network Rail develops initial view of CP7 funding and outputs
- ORR advises funders to inform HLOSs/SOFAs
- DfT and Transport Scotland produce HLOSs & SOFAs
Phase 2 (2023)
- ORR scrutiny of Network Rail’s detailed CP7 plans
- ORR draft and final determination
Phase 3 (2024)
- Implementation
| Period | Milestones |
|---|---|
| April to June 2021 | We published PR23 launch letter We published Schedule 8 consultation |
| July to September 2021 | We published access charges consultation We published Schedule 4 consultation |
| January to March 2022 | Network Rail provided initial submission We published guidance on how NR’s funding and outputs are determined |
| April to June 2022 | We published charges and incentives consultations We provided advice to funders We published review initiation notices We provided first set of supplementary advice to Department for Transport |
| July to September 2022 | We published policy framework consultation We published technical consultation on success measures We published our guidance to Network Rail on the preparation of its Strategic Business Plan We provided second set of supplementary advice to Department for Transport We provided first set of supplementary advice to Scottish Ministers We provided second set of supplementary advice to Scottish Ministers |
| October to December 2022 | We concluded on charges and incentives frameworks for PR23 We published extension to review initiation notice for England and Wales Secretary of State provided HLOS and SoFA We published financial framework consultation We published policy framework decisions We published extension to review initiation notice for Scotland We published ‘Conclusion of Phase 1’ update letter |
| January to March 2023 | Scottish Ministers provided their HLOS and SoFA Network Rail provided Strategic Business Plan (SBP) for England and Wales and interim SBP for Scotland |
| April to June 2023 | We published holding Network Rail to account policy consultation Network Rail published its Strategic Business Plan (SBP) We published draft determination for England & Wales and Scotland |
| July to September 2023 | We consulted on changes to access contracts We consulted on open access airport services Network Rail published Strategic Business Plan for Scotland |
| October to December 2023 | We published final determination for England & Wales and Scotland We issued Delivery Plan Notice We serve Review Notices |
| January to March 2024 | We conclude on changes to access contracts We serve Notices of Agreement to all affected parties We serve Review Implementation Notices Network Rail publishes CP7 delivery plan |
| April to June 2024 | Start of CP7 |