Network Rail braces for £1bn energy bill as costs increase by more than 50%

Cost of electricity for running trains alone is expected to increase from 595m to 885m in 2023-24

Network Rail is bracing for a 1bn energy bill for the first time in the history of Britain's railways, as the energy crisis is forecast to increase its costs by more than 50% over the next financial year.

The cost of traction - providing the electricity for running electric trains - is expected to increase to 885m in 2023-24, Network Rail said, up from 595m this year.