So if you wanted (as an example) to borrow money to fund the cost of electrifying the GE-GN joint line between Werrington and Doncaster on the basis of lower energy/fuel costs, how long a payback period would you need?
(I deliberately picked that route as the main beneficiary electrification would probably be freight - the relatively sparse passenger service would probably never justify electrification).
I don’t have the numbers, but a long time.
But, that wasn’t what I was suggesting (my fault for not being clear). I mean that if you are a FOC, and wanted to borrow money to buy electric (or hybrid) locos to replace diesel locos on a route that is already electrified, then the payback period could be relatively short.