1. The role of statutory Arbiter for the London Underground Public-Private Partnership Agreements was created by the Greater London Authority Act 1999. I was appointed as the first PPP Arbiter in December 2002. Annex 1 gives a brief summary of the PPP Agreements, and Annex 2 outlines my functions and duties.
2. The London Underground PPP covers the maintenance, renewal and upgrading of the infrastructure-track, trains, signalling and stations. The PPP Agreements are 30 year commercial contracts, with reviews of scope and pricing every 7½ years. My role is concerned principally with assessing the efficient level of costs and pricing at Periodic Review (and at the Extraordinary Reviews which may take place between Periodic Reviews).
3. Based on my experience to date, I set out below my views on some of the questions covered by the call for evidence. I do not respond on questions which are outside the scope of my role as PPP Arbiter.