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London Underground seek less Tube risk

The PPP Arbiter today said he would meet tube upgrade contractor Tube Lines later this week to discuss London Underground's application for a change in cashflow restraints for the next PPP control period, which begins in 2010.

The PPP Arbiter, Chris Bolt said, "Successful completion of the Periodic Review for Tube Lines, which takes effect from 1 July 2010, is important if users and taxpayers are to get value for money in the second 7.5 years of its PPP agreement.

"I will want to ensure that my role as Arbiter supports that objective to the greatest extent possible."

The three tube upgrade contractor companies (also known as 'infracos') manage the upgrade of the London Underground network.

Tube Lines manage the upgrade of the Jubilee, Northern and Piccadilly lines. The remainder of the network is managed by two Metronet companies, currently run under PPP administration, which will eventually revert to direct management by Transport for London.

Infracos can re-negotiate their PPP contracts at the end of each 7.5 year control period. London Underground want Tube Lines to change their 'Affordability Constraint'.

London Underground want Tube Lines to ensure that any changes to Tube Lines' contracts will not be 'de-scoped late in the Periodic Review process, with the attendant risk that that this will result in sub-optimal results", and to hasten the periodic review process.

London Underground also want the arbiter to clarify what impact this could have on Tube Lines' performance.

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