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  • Mon, 2 Sep 2013, 17:30
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  • Virgin Trains, Meridian, 85 Smallbrook Queensway, Birmingham, B54 HA

IRO Area

Event Details

The CP5 Periodic Review (Cathryn Ross, Director Markets and Economics, Office of Rail Regulation).

This event will be held at the Virgin Trains’ Boardroom, Meridian, 85 Smallbrook Queensway, Birmingham B54HA. The event starts at 17:30 for 17:45.

The ORR Draft Determination for CP5 gives clear direction for increased efficiency, greater use of technology and innovation and a much more active engagement of passenger and freight customers in the decisions made not just by Network Rail but by the rail industry as a whole. Largely hyped by the media as “Network Rail funding slashed by £2bn”, the policy objectives which will be set in the Periodic Review PR13 are of great significance to railway operators as much as any other discipline, today and in the future.

Doing “more for less” has been a common theme since the 2007 white paper “Delivering a Sustainable Railway” set out the Government’s objective to re-balance funding of the rail industry in England and Wales by 2014. Whilst the periodic review of 2008 (the first since the Railways Act of 2005) introduced the notion of understanding whole industry costs and revenues, the review of 2013 unashamedly incentivises the whole industry to work together to deliver or exceed all the required outcomes safely and sustainably in the most efficient way.

Our season of formal talks and presentations this year focuses heavily on the aims and objectives envisioned in the ORR’s Draft Determination. What better way than to open the season with a key note presentation from the ORR and the principal architect of the Draft Determination itself, Cathryn Ross.

Cathryn is the Director, Markets and Economics at the Office of Rail Regulation, a role to which she was appointed in August 2011. Of her appointment Richard Price, ORR Chief Executive said at the time “Cathryn will be able to bring her considerable experience to bear in leading our Periodic Review… and in helping align incentives across the sector to drive out costs and provide better value for money for customers and taxpayers”. Before joining the ORR Cathryn was executive director of markets and economics and a board member at Ofwat for three years, prior to which she spent five years with the Competition Commission.

This is a not-to-be-missed opportunity to hear from and pose questions to a leading member of the ORR, on how Network Rail and the rail industry are expected to shape-up over the next five years and longer.

For further information about IRO Midlands contact Julia Stanyard on 0121 345 3833 or  email midlands@railwayoperators.co.uk.

CPD Topics Covered:

Added on the website on September 2, 2013