Rolling Stock Leasing: Market Investigation
- Competition Commission
- Stationery Office Books
On 26 April 2007, the Office of Rail Regulation (ORR) made a reference to the Competition Commission (CC) for an investigation into the leasing of stock for franchised passenger services and the supply of related maintenance services in Great Britain. This is the report of the Competition Commission's findings.
The report is under the Act. Section 134(1) of the Act and requires the CC to decide whether any feature, or combination of features, of each relevant market prevents, restricts or distorts competition in connection with the supply of acquisition of any goods or services in the United Kingdom. It refers, where appropriate, to material published separately on the CC website. The report, however, is self-contained and is designed to provide all material necessary for an understanding of the CC's decisions.
This report outlines the background of the rolling stock industry and the three rolling stock leasing companies (ROSCOs), which were created at privatisation to own the fleets of ex-British Rail passenger vehicles. It then goes on to define the market in terms of the sets of products and/or services that compete with each other, and the geographic extent of the market.
As part of the investigation the CC considers the supply of new rolling stock and the sustainability between different fleets of rolling stock that allows companies to compete effectively with each other in the market for leasing stock.
Background to the industry
Role of Government in the rail industry
Passenger rail franchising
Railway industry financing
The rolling stock leasing companies
New rolling stock
Competition in the market for the leasing of rolling stock
Analysis of profitability
Findings in relation to the competitive analysis of leasing rolling stock
Assessment of competition for maintenance services
Findings and conclusions
Remedies to prevent any detrimental effects on customers.
The report concludes with an assessment as to whether there are features of the market that prevent, restrict or distort competition with the leasing of rolling stock for franchised passenger services.
|Format||Paperback||Published||14 Aug 2009|
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