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The Regulatory Framework

As a monopoly owner of the rail network, Network Rail operates within a regulated environment which means that we are held accountable for our management of the network. Other than our members, we are accountable to:

• our train and freight operating customers under access contracts and the network code.
• the Office of Rail Regulation (ORR) through our regulated network and station licences and under statute. In regulating Network Rail, ORR focuses on our stewardship of the network to determine the level of funding required. (ORR is also to take over responsibility for rail safety from HSE).
• the providers of public funds mainly the Department for Transport, the Scottish Executive and (until it is abolished) the Strategic Rail Authority (SRA) which gives grants directly to Network Rail and subsidises the train operating companies.

Our strategy and prioritisation for expenditure on the network is based on our contractual and regulatory obligations while having regard to the reasonable requirements of our customers and funders.The Planning & Regulation team is responsible for ensuring that the company understands the regulatory framework, is compliant with all its non-safety regulatory obligations and develops robust, deliverable and consistent business plans that reflect our corporate goals. Safety regulation is managed by the Safety & Compliance team reporting directly to the Deputy Chief Executive.