Intra-company benchmarking of Network Rail's maintenance and renewals expenditure

This project aim is understanding the drivers of Network Rail's expenditure, including the reasons for changes over time, is key to understanding value for money, of which cost efficiency is a key part. To achieve this, we use a range of complementary approaches including bottom-up assessments of Network Rail's business plans and performance, and top-down cost benchmarking using statistical (econometric) methods. This work relates to our top-down benchmarking of Network Rail's maintenance and renewals expenditure for the year from 1 April 2025 to 31 March 2026 ('2025-26').