Announcing the news today, 31 July, Chief Executive Mark Carne said the changes "mark the next stage of Network Rail's transformation" with the company having already decentralised into nine devolved individual businesses.
Key features include;
• Publishing a regular pipeline of third party project opportunities
• Creating a swathe of third party project champions across the country who will work side-by-side with delivery bodies, investors and funders to ensure their projects are successful
• Creating a clear service level agreement for third parties so they have clarity and reassurance regarding Network Rail’s legal obligations
• Introducing flexibility to railway standards. Safety, of course, will always be central to our ethos but where we can encourage innovation and reduce costs without compromising our solid safety record, we will explore how we can be more flexible
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• Launching a rewards scheme where money saved from introducing a new idea or innovation is shared between Network Rail and the company or individual
Network Rail said the reforms will also unlock new sources of funding by allowing potential investors to choose who delivers which projects for them.
As one of the first examples of projects being privately financed in an innovative way is Network Rail's two-year deal with British signalling and train control specialist, Resonate.
The deal will see Resonate introduce its new, digital traffic management system into the signalling and control systems for the main lines out of London Paddington, helping to reduce delays by up to 15%.
Deputy chairman of the National Infrastructure Commission, Sir John Armitt, said: "Record numbers of people are choosing to travel by train, and Network Rail is in the midst of a huge programme of renewals and enhancements to the network, alongside working on major schemes such as East-West Rail and HS2.
"So I welcome these measures, which will help drive innovation and bring new competition and the latest technologies into the industry, to deliver better services for passengers."
Darren Caplan, chief executive of the Railway Industry Association, said: "We are excited by the opportunities we see to innovate with these reforms. We all know that the industry has to change – these changes mark a welcome, positive, approach from Network Rail which has previously resisted such radical steps."
(LM/MH)
