UK: The Office of Rail & Road has launched a consultation asking stakeholders to provide views on the processes and approach to the next periodic review of high speed line concessionaire HS1 Ltd.

ORR is required by law to approve HS1 Ltd’s plans and charges for the use of its line between London St Pancras and the Channel Tunnel and the stations it serves.

The periodic review will set these charges for the five years from 2025, and ultimately have an impact on how much passengers pay for tickets.

Consultees are asked to consider how cost efficiency is assessed and the regulated financial framework of HS1 Ltd, such as scrutinising its ability to manage financial risks. These include macroeconomic risks, like inflation and interest rates as well as specific risks, such as uncertainty in the supply chain and demand.

As the government has no plans to change the concession agreement, ORR will not be considering any elements that would require such a change.

ORR is seeking responses to the initial consultation document by November 11, to be taken into account when producing its ‘Approach to PR24’ which is to be submitted to the Secretary of State for Transport on January 31 2023.