Crossrail is a new and key high frequency underground railway through London. It represents a £14bn investment and is expected to increase London rail capacity by 10% over the next few years and result in significant time savings for passengers.
Transport for London (TfL) has had to design and implement a regulatory regime for Crossrail to facilitate fair and efficient utilisation of the infrastructure investment so that the benefits of Crossrail are delivered for passengers and London. TfL turned to us to assist them in designing a regime including:
The setting of access charges for rail operators using Crossrail
The putting in place of an incentive regime to ensure disruption is minimised and the performance of the infrastructure is improved to the benefit of passengers.
We’ve drawn on our experience in the rail industry and regulatory regime design across sectors to bring innovative ideas to assist TfL.
We’ve undertaken extensive modelling to estimate the optimal level and structure of charges to ensure TfL meets its objectives and satisfies the relevant legal and regulatory requirements.
Crossrail is connected with other rail infrastructure, so this required consideration of ‘whole system’ impacts by taking into account inter-dependencies between networks.
As well as advising on the regulatory regime, we also supported TfL in discussing and testing its proposals with relevant stakeholders including the regulator – the Office of Rail and Road (ORR).