|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: ||2016 (data is from Sept 2015) |
|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 HLOS was published with the required information as planned in July 2012. The rail industry responded with a Strategic Business Plan in January 2013 setting out how it proposed to deliver the HLOS within the financial ceiling of the funds available. The independent Office of Rail Regulation (ORR) undertook a review of this plan in 2013 and concluded it was appropriate and would deliver the HLOS. The HLOS Project completed following completion of the ORR Periodic Review for Railway Control Period 5 in late 2013. The Department has since established separate arrangements for monitoring the subsequent delivery and affordability of the Rail Investment Strategy for Control Period. The exit review for the HLOS project was incorporated in the wider Bowe Review commissioned by the Secretary of State for Transport to identify lessons learned from the planning process for Control Period 5 (2014-19) for rail investment to be delivered by Network Rail. The Bowe Report was published on 25th November 2015. The recommendations have been accepted in full and are now being implemented. |
|Start date: ||2011-08-31 |
|End date: ||2012-07-31 |
|Schedule text: ||HLOS project delivered to schedule. The HLOS exit report was incorporated in the wider review of the process commissioned by the Secretary of State for Transport from Dame Collette Bowe in March 2015 |
|Baseline: ||£3,381.94m |
|Forecast: ||£2,577.40m |
|Variance: ||-0.24% |
|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 Passenger 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: ||£16,840.60m |
|WLCost 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. |
|Notes1: || Periodic Review 2013 (Rail Investment Strategy - HLOS & SOFA) |
|Notes2: || |
|Sourcefile: ||IPA_2016.csv |
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Acknowledgement: GMPP data has been re-used under the Open Government Licence.