Railways: Intercity Express Trains

House of Lords written question – answered on 15th October 2012.

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Photo of Lord Berkeley Lord Berkeley Labour

To ask Her Majesty's Government what is the total real cash value of the Intercity Express Project contract over the 27.5 year period; and what will be the estimated annual payment, at 2012 prices, when both the Great Western and East Coast fleets are in service.

Photo of Earl Attlee Earl Attlee Lords Spokesperson (Department for Transport), Lord in Waiting (HM Household) (Whip)

The Intercity Express Project contract has a net present value of approximately £4.9 billion at 2009 prices, and a nominal value of approximately £17.8 billion over 27.5 years. The estimated annual payment, at 2012 prices, when both Great Western and East Coast fleets are in service in 2019-20 is approximately £449 million.

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