The Office of Rail and Road (ORR) will allow the infrastructure manager of Phase One of High Speed 2 (HS2 Phase One) to levy an Investment Recovery Charge (IRC) on future rail users of the network, the regulator has announced today. The amount and nature of the charge will be subject to future assessment.
ORR’s decision is set out in a report, published today, and is based on evidence demonstrating that the legal requirements are met in principle for the HS2 Phase One charging framework to include the recovery of the project’s long-term costs.
This decision, which comes after a public consultation that closed on 13 May 2022, forms only part of ORR’s determination of the charging framework for HS2. The full charging framework will be finalised and assessed nearer the start of operations.