London Underground is to terminate its 30 year operation and maintenance contract for the network’s high-voltage electrical power network after 15 years, it announced today.
The Tube owner and operator entered into the 30 year private finance initiative (PFI) with Powerlink in 1998 to manage, operate and maintain the Tube’s electrical power network. The contract included a half-way break clause, at which point LU has the option to terminate the contract early.
Having today served formal notice on Powerlink, the contract will come to an end in August next year. Powerlink and LU will work together over the coming months to transfer staff and activities back to LU next year.
The organisation said the move would have “no impact whatsoever” on the day to day operation of the network.