The Office of Rail Regulation (ORR) today announced it would refer the leasing of rolling stock for franchised passenger services to the Competition Commission (CC) for further investigation.
The decision follows a public consultation on ORR's competition assessment.ORR chairman Chris Bolt said: 'Rolling stock leasing is a significant part of train operating costs - around £1bn a year. Our review of these markets has identified features that appear to us to prevent, restrict or distort competition. This means that train operating companies may be paying higher prices and/or receiving a poorer quality of service than if competition was more effective.'There are three main passenger rolling stock leasing companies: Angel Trains, HSBC (Rail) UK, and Porterbrook Leasing Company.Click here
to view ORR's decision in full.