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  "documentTitle": "Rail industry cost and revenue sharing (2011)",
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  "notes": "The slide details the regulatory framework established by the Railways Act 2005 and the specific findings of the PR08 review regarding efficiency gaps.",
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      "text": "NR should be able to catch up two thirds of the efficiency gap during CP4",
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      "text": "Source: ORR, Periodic Review 2008. ORR/ATOC/Network Rail. Rail industry cost and revenue sharing.",
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      "text": "NR’s output obligations include: top-level output obligations covering safety, train service performance, capacity, network capability, station condition and network availability; HLOS targets for selected performance measures in 2013/14.",
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      "text": "The ORR’s 2008 Periodic Review determined, for Control Period 4 (Apr 09 - Mar 14): the outputs that NR must deliver and its revenue requirements; the track access charges to be paid by train operators for use of its infrastructure.",
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      "text": "The ORR analysed the rate of improvement achieved by companies in other regulated industries and made a high level judgement that “NR should be able to catch up two thirds of the efficiency gap during CP4”",
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