2015 Report details for project: Periodic Review 2013 (HLOS)

Project name: Periodic Review 2013 (HLOS) - there are 4 reports for this project: 2013, 2014, 2015, 2016
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Organisation: DFT (D9) - see all reports for this organisation
Report year: 2015 (data is from Sept 2014)
Category: Infrastructure - see all reports for this category
Description: As part of the Office of Rail Regulation's Periodic Review, Government is required to publish a High Level Output Specification (HLOS), setting out information about what the Secretary of State wants to be achieved by railway activities during Railway Control Period 5 (1 April 2014 to 31 March 2019); and a Statement of Funds available (SoFA), setting out the public funds that are or are likely to become available to secure delivery of the HLOS. This fulfils the statutory obligation required by paragraph 1D(1) of Schedule 4A to the Railways Act 1993 as modified by the Railways Act 2005.
DCA (RAG): Green
DCA text: The programme completed in 2012. The Department is working to develop the programmes and projects to deliver the infrastructure and train service changes, and will consider lessons learned for the next Periodic Review in 2018.
Start date: 2011-08-17
End date: 2012-07-31
Schedule text: Schedule is complete
Baseline: £3,164.93m
Forecast: £2,764.10m
Variance: -13.00%
Variance text: The BUDGET provided is based on the Secretary of State's Statement of Funds Available (SOFA) which was published in July 2012 as part of the Control Period 5 HLOS. The FORECAST provided is based on the current net resource and capital position, based on the most up-to-date Long Term Forecast for Rail, at the time of reporting. The resource FORECAST is based on the in year Support for Passeneger Rail Services position, which has improved significantly as a result of increase in revenues. The capital FORECAST is based on the Office of Rail and Road Final Determination from 31 October 2013. The Determination sets out the amount of capital grant the DfT provides to Network Rail in 2012/13 prices. This is inflated using the latest Office for Budget Responsibility indicators to produce the forecast. The amount of grant Network Rail receive in each year of Control Period 5 is recalculated in this way annually and detailed in the Deed of Grant. As such, inflation risk remains.
Whole Life Cost: £16,840.61m
WLCost text: The BUDGET provided is based on the Secretary of State's Statement of Funds Available (SOFA) which was published in July 2012 as part of the CP5 HLOS.
Notes1: Periodic Review 2013 (Rail Investment Strategy - HLOS & SOFA)
Sourcefile: IPA_2015.csv

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