You are in RA » Document Archive » Rail Regulator's Statement for the Railtrack Prospectus

Rail Regulator's Statement for the Railtrack Prospectus

Document Summary

The Rail Regulator's statement on the proposed privatisation of Railtrack.

This document was published on 3rd April 1996 by Office of Rail Regulation.

It was written by Office of Rail Regulation.

The original document format was PDF File, and comprised 22 pages.The original document can be found here.

This document was kindly sourced from Office of Rail Regulation and is in our Prospectuses collection. It was added to the Archive on 31st December 2008.

Copyright Information

This document is Crown Copyright, and is subject to the terms governing the reproduction of crown copyright material. Depending on the status and age of the original document, you may need an OPSI click-use license if you wish to reproduce this material, and other restrictions may apply. Please see this explanation for further details.

"Railtrack, as owner and operator of the national rail infrastructure, has stewardship of that infrastructure. That status carries with it important obligations as to the safeguarding of the future of that infrastructure. I expect Railtrack to recognise these obligations and to act accordingly.

Railtrack is the owner of an essential facility. Train operators (and hence their customers) are dependent on it for delivery of the services provided. I expect that Railtrack will not use this monopoly position to act against the public interest and I would take appropriate action against any abuse of this position.

These general principles have the effect of conferring upon Railtrack a substantial degree of independence in decision making. But, with this independence come responsibilities. Over the years following flotation I will be monitoring Railtrack's performance with a view to ensuring its actions are not inconsistent with the public interest. The first seven years of the Railways Act 1993 (two of which have seen Railtrack in the public sector) will be the proving ground for the railways of the twenty-first century. The more Railtrack recognizes the public interest in its conduct during these years, running up to the next periodic review of Railtrack's charges, the less likely that they will be followed by a substantially different regulatory approach."