UK: The Office of Rail & Road has published streamlined guidance designed to make third party investment in rail infrastructure easier.
The Investment Pathway document aims to help investors navigating the regulatory framework and understand their obligations and opportunities when investing in rail infrastructure. Separate investor guidance clarifies investment opportunities around specific forms of infrastructure.
The guidance has been issued following ORR’s engagement with potential investors.
As part of its ongoing review into the Rail Network Investment Framework, carried out at the request of HM Treasury, the regulator has also identified opportunities to reform the Industry Risk Fee and the Network Rail Fee Fund, which support third party investment by providing a consistent approach to risk allocation and liability.
The review concluded that while the funds remain appropriate and effective, there are opportunities to strengthen how they operate to improve value, efficiency and transparency. Subject to consultation, changes could be made to contribution rates to reflect more up to date data on risk reassessing thresholds.
‘The Rail Network Investment Framework has supported over £40bn of third-party investment into the railway since it was launched’, said ORR Director of Planning & Performance Feras Alshaker. The changes ‘are a positive step towards making it easier and simpler to invest in the rail network, supporting economic growth’.
