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  "documentTitle": "Rail industry cost and revenue sharing (2011)",
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  "authorName": "L.E.K.",
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  "notes": "The table evaluates four scenarios: No sharing, Full sharing, TOC pax and sch 8 revenue shared only, and TOC pax revenue shared only.",
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      "text": "If NR sch. 8 costs are excluded then TOCs would again receive the same income under different NR performance scenarios. The benefit vs the no sharing scenario is that TOCs would be less reliant on sch 8 imperfections in the sch. 8 payment rates",
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      "text": "Note: * Based on an indicative sharing rate of 20%\nORR/ATOC/Network Rail. Rail industry cost and revenue sharing.",
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      "text": "The conclusions are similar for Schedule 4",
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      "text": "Hypothetical scenario showing cashflows before and after a notional deterioration of NR performance",
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      "text": "1 – Scope: TOC revenue (2 of 3): Not including TOC schedule 8 receipts would cause perverse incentives. However, NR’s corresponding schedule 8 costs should be excluded to avoid TOCs being worse off than currently",
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