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  "documentTitle": "Rail industry cost and revenue sharing (2011)",
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  "notes": "The slide uses a categorization framework to justify a policy recommendation regarding Network Rail (NR) and Train Operating Companies (TOCs).",
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      "text": "Exogenous factors which are outside the control of both TOCs and NR have by far the largest impact on TOCs' revenue.",
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      "text": "The drivers of TOC passenger revenue can be grouped into three categories... Exogenous factors... Categories 2 and 3... NR is already incentivised...",
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      "text": "ORR/ATOC/Network Rail. Rail industry cost and revenue sharing.",
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      "text": "Categorisation of revenue drivers: Exogenous (GDP, inflation, etc.), Impacted by TOCs (Marketing, etc.), Impacted by NR (Performance, etc.)",
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      "text": "1 – Scope: TOC revenue (3 of 3): Analysis of the drivers of TOC passenger revenue suggest that there is an economic case for NR to take a minority share in TOC revenue",
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