Lower Thames Crossing
The question
To ask the Secretary of State for Transport, if she will implement a framework of mandated annual updates to Parliament on project progress and forecast outturns for the Lower Thames Crossing following its transition to a Regulated Asset Base model.
Answered by Simon Lightwood
The Regulated Asset Base (RAB) model will allow for a regulated private entity to finance, build, operate, and maintain the Lower Thames Crossing under long-term oversight by an independent regulator. The regulator will ensure transparency, fair pricing for users and performance standards. Reporting requirements have not yet been determined and will be set out as the regulatory framework is developed.
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