We are the first company to operate a high speed domestic rail service in the UK. The state of the art Hitachi trains travel at speeds of up to 140mph.
In December 2009 we will launch the full timetable for the UK's first high speed domestic rail service on High Speed 1 (Channel Tunnel Rail Link). The Hitachi built trains will run at speeds of up to 140 mph and will dramatically reduce current journey times between Kent and London. Based on detailed modelling, we expect the service to open up new markets among people currently commuting by car to London and the Docklands. Regulated fares for the service are capped by the DfT at 20 – 30% higher than current mainline fares.
At the end of June 2009, we began running limited high speed ‘preview’ services. We are proud of the fact that the project is ahead of schedule and wanted passengers to be able to try the service early. The preview service also allows us to test the service and to learn what passengers need and want. Cutting journey times from Ashford to London by 45 minutes to 37 minutes, the preview services have already proven to be very popular.
- 2009 revenue: £577.8m
- Start of franchise: April 2006
- Franchise renewal: March 2014*
- Eligible for revenue support: 1 April 2010
- Approx. 70% of passengers are commuters
- Regulated (peak-time) fare increases: RPI** +3% to January 2010 and RPI+1% from January 2011
- *Assuming two year extension granted.
- **Annual regulated fare increases are made in January based on the Retail Price Index (RPI) as at July of the previous year.
The Southeastern franchise provides frequent train services connecting Central London to south east London, Kent and parts of East Sussex. In December 2009 it will introduce the full timetable for the UK’s first high speed domestic service between Kent and London. Preview services began in June 2009.
Performance Overview
Our Southeastern franchise has enjoyed a good year, delivering significant timetable changes from December 2008 and providing operational support to the Thameslink programme as well as preparing for the new timetable in December 2009 which will include the UK’s first domestic high speed rail service.
Our operational performance in Southeastern remained strong despite adverse weather in February. Our punctuality (PPM) was 90.8% (2008: 91.1%) and the franchise achieved a customer satisfaction rating of 76% in the Spring national passenger survey (2008: 79%).
Total revenue in Southeastern consisted of passenger revenue of £473.6m (2008: £449.1m), other income of £18.7m (2008: £19.1m) and net subsidy receipts of £85.5m (2008: £113.4m).
The increase in full year passenger revenue was 5.5%, consisting of a first half increase of 8.9% and a second half increase of 3.8%. Passenger numbers increased by 1.0% compared to last year, with a first half increase of 4.3% and a second half reduction of 1.7% which was slightly better than the 2% reduction we anticipated. The trends in this franchise reflect the relatively large percentage of London commuters and hence the sensitivity to central London employment. The difference between passenger revenue and passenger numbers reflects the RPI + 3% fare regime in this franchise which continues to 2010 and then reverts to RPI+1% from 2011.
Approximately £21.2m of the reduction in subsidy related to the change in the Network Rail access charge regime from 1 April 2009.
Operating profit* was below the exceptionally strong result for last year but broadly in line with the franchise bid. This was partly achieved through a significant cost savings programme which Southeastern started in the first half of the year, including a reduction of up to 300 positions which incurred an exceptional charge of £1.9m, procurement savings and other efficiency savings which in total are estimated to have saved nearly £10m compared to last year.
London St Pancras International: Excellent connections
- London: six tube lines: Metropolitan, Circle, Hammersmith, Northern, Victoria, Piccadilly
- UK: Close to Kings Cross and Euston Station connecting London with the rest of the UK
- International: Eurostar to Lille, Brussels, Paris and Amsterdam. Close to London City Airport.
- Ashford International to London St Pancras 1 hour 24 minutes to 37 minutes
- 1.5 hours off your daily commute
- £4 extra a day+
- +Based on a weekly season high speed preview service ticket compared with the current mainline fare.
For more information about the high speed service, including timetables, fares and an interactive map please visit www.southeasternrailway.co.uk
