Having announced his decision to resume work on the Extraordinary Review, on September 21 PPP Arbiter Chris Bolt published the results of his initial analysis of the reference made by Metronet BCV. In its submission of June 28 (RB1297 p1), the company sought an increase of £992m in the Infrastructure Service Charge paid by London Underground over the first seven and half year review period of the PPP contract. Bolt now believes that 'the appropriate figure for an efficient company' would be in the range of €140m to £470m. Although no reference has been made by Metronet SSL for an Extraordinary Review, Bolt has also reviewed its latest financial model which shows an underlying increase in costs against the baseline of some £1·1bn during the first review period. According to the Arbiter, the potential scale of the increase in efficient and economic costs recoverable by Metronet SSL is likely to be in the range of £230m to £600m.
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