Network Rail chairman Sir Peter Hendy has warned that the company no longer enjoys a 'flexible and accommodating financial regime', and will have to live within its means in future. He was speaking to Railnews in the wake of publishing his report into the fate of its delayed enhancement projects, which concludes that most can go ahead although some will only be completed in the next Control Period CP6, which will run from 2019 to 2024. Great Western electrification remains a priority, but the Midland Main Line will only be electrified as far as Kettering and Corby by 2019, and the Transpennine route, will be electrified by 2022.
Rail franchising poses 'emerging risks', with uncertainty, delays and cost increases affecting major infrastructure works, the risk of reduced competition and 'potentially stretched' resources, according to a report published by the National Audit Office today. However, it also concludes that the Department for Transport has improved the management of its rail franchising programme since the collapse of the Intercity West Coast competition just over three years ago.
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