Rail regulation in the new world

摘要

Chris Bolt, Chairman of the Office of Rail Regulation, described the future of regulation in the reorganised railways to the Railway Study Association. The White Paper following the 2004 Rail Review talks about railways being built on the principle of public and private partnership. The idea is one of a public service specified by Government and delivered by the private sector. What can we learn from the history of the railways since privatisation? Looking at Railtrack and then Network Rail, it is clear that there was inadequate asset knowledge on Railtrack's part and inadequate emphasis on the importance of asset management planning over the medium and long term to maintain sustainable asset performance.