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

It is the first time in the history of Britain’s railways that energy bills will reach £1bn. Photograph: Aaron Chown/PA

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.