Moderation of Competition
As a way of protecting the revenues of Virgin Trains to enable it to pay franchise premiums to the government to partly recoup the cost of the West Coast Main Line upgrade, the Office of Rail Regulation inserted a Moderation of Competition in Virgin's Track Access Agreement. Until its expiry in March 2012, this prevented any other train operating or open access companies operating services in competition that would abstract revenue.
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Famous quotes containing the words moderation and/or competition:
“The moderation of men in the most exalted fortunes is a desire to be thought above those things that have raised them so high.”
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