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In May 2016, we published our first major consultation on the 2018 periodic review (PR18). PR18 will determine Network Rail Infrastructure Limited’s (Network Rail’s) outputs and funding in control period 6 (CP6, which we expect to run from 1 April 2019 to 31 March 2024). This will feed through into the service passengers and freight customers receive and, together with taxpayers, ultimately pay for.

We received 59 responses to our initial consultation from a wide range of stakeholders. We are grateful to all those who responded. The responses are redacted where appropriate.

Following careful review of the consultation responses and the valuable engagement we had with stakeholders over the summer, in November 2016 we published our conclusions on our initial consultation. Among other things, these confirmed our plans to regulate Network Rail increasingly at a route-level and to improve how we regulate Network Rail’s national system operator function.

Along with a letter setting out our conclusions, we also published a supporting document, summarising stakeholder responses and setting out our comments on these.

In terms of next steps:

* we have published a consultation on the development of the regulatory settlement for Network Rail’s national system operator in CP6;
* in late November 2016, we will publish a consultation on our draft guidance to Network Rail on its strategic business plans (SBPs), which will set out our expectations for the plans it will produce and the process it will follow for this.