Row erupts over multi-million-pound bill for Farringdon floods as Network Rail and Thames Water fight over who is to blame January 29, 2015 A row has erupted over who is to blame for the floods that have disrupted train services across London on the Thameslink line for the past six days – and which look likely to last into next week. Yesterday Network Rail issued a statement saying Thames Water faced “a multi-million pound bill” for the [...]
Network Rail chief Mark Carne turns down bonus after “unacceptable” engineering delays caused “misery” for passengers December 30, 2014 Network Rail chief executive Mark Carne has said he will not take his bonus, after the travel chaos that erupted after engineering works overran this Christmas. Carne stood to receive a £34,000 performance-related bonus on top of his £675,000 a year salary. But in light of the huge disruption at King’s Cross and Paddington – [...]
Network Rail’s public image in danger of running off track – Brand Index September 9, 2014 NEWS that Network Rail will be answerable to parliament – having its status changed so that it counts as part of the private sector – has caused a stir among MPs, executives and the public more generally. Is this the first step on the road to re-nationalisation? Is this what the public want? And how [...]
Network Rail’s £53m fine will fund free Wi-Fi on busiest trains July 7, 2014 Network Rail is being forced to hand back £53.1m of its state funding for falling “significantly short” on goals to cut delays on Britain’s railways. The government confirmed yesterday that the fine would be spent on offering free Wi-Fi on the busiest trains. In the five years to March 2014, fewer than nine in 10 [...]
Network Rail fined £53.1m for trains running late July 7, 2014 Network Rail has been handed a record £53.1m fine for missing punctuality targets, the industry regulator reported today. In its assessment of the company that runs Britain's tracks, the Office of Rail Regulation (ORR) criticised Network Rail for falling "significantly short" of the funded 92 per cent average punctuality targets, achieving just 87 per cent. [...]
Babcock and Carillion win Network Rail work May 12, 2014 NETWORK Rail yesterday announced its preferred bidders for lucrative contracts to run its conventional track renewals and improvement work for the next five years. Babcock International won work over three of the seven geographic lots to deliver plain line tracks for Network Rail. The lots are made up of Western, Wales and Wessex; Scotland and [...]
Network Rail unveils preferred bidders for track renewals May 12, 2014 Network Rail has announced its preferred bidders for conventional track renewals and improvement work for the period 2014-19. Babcock International has won work over three of the seven geographic lots to deliver plain line tracks for Network Rail. The lots are made up of Western, Wales and Wessex; Scotland and LNW South, which are worth [...]
Network Rail totting up cost of flood defence March 31, 2014 NETWORK Rail has set out its £38bn upgrade plans for the next five years, though new boss Mark Carne underlined the difficulty of cutting running costs while keeping Britain’s railways in shape. Carne and his team are totting up how much more money they will need to protect the railways against the weather, following the [...]
Network Rail braced for delay fines March 31, 2014 NETWORK Rail, the public body that runs Britain’s railways, is braced for fines of around £70m for falling short on punctuality targets in recent years. The Office of Rail Regulation has the power to penalise Network Rail if less than 92 per cent of trains arrive within 10 minutes of the schedule, and figures this [...]
Mitie trading in line as it unveils new £75m Network Rail contract March 20, 2014 OUTSOURCING company Mitie yesterday said that it expects to deliver full-year results in line with expectations, as it unveiled a new £75m Network Rail contract. The FTSE 250 firm has been reducing its exposure to the loss-making construction element of its asset management business, but said it expects a one-off impairment of around £10m to [...]