I don't quite understand how HS2 will have lower costs, firstly there's approximately £30 Billion in capital investment to build Phase 1, which has financing costs,
The financing costs incurred by the state are so low as to be almost negligible.
Especially as real interest rates on government debt are negative.
Even if you amortise it down, the number of passengers that will use it render this a negligible ticket component.
then there's the depreciation as it slowly wears out,
The majority of the costs involved in building HS2 have very very long lifetimes.
The tunnel bores etc, or the political costs of getting the thing built in compulsory purchased, planning etc.
Tunnels have a very long lifetime when properly engineered.
These costs will amortise to nothing.
plus the new rolling stock
The current rolling stock does not have an infinite operational life, and the costs of high speed units are not actually that much greater than that of conventional units, especially when comparing to things like Pendolinos with all the equipment they have that a high speed unit does not have.
Indeed the costs of rolling stock may even be lower for HS2 because the trains can make many more round trips in a given period thanks to their higher average speed
What operating costs are higher?
Instead of two train crew making round trips, I can have one driver making nearly twice as many round trips (on Manchester certainly).
Because of the much shorter journeys most of the expensive catering stuff can be dispensed with, along with the very expensive galley facilities which take up a load of room.
HS2 will need a handful of signallers in an office control room somewhere, it has far less equipment to go wrong than the average railway due to its simple track layout and uniform operating parameter sof the fleet that operates on it.
It will also be built to modern standards, optimised for life cycle costs, rather than built to the standards of Victorian engineers where labour was cheap and material was expensive.
higher energy usage because of the higher speed
Energy cost of a passenger on a TGV duplex at 320km/h is comparable to a Pendo at 200km/h.
Modern high speed stock is much lighter than the monstrosities tilt forces us to use now.
Even then, energy costs are not significant portions of the price of a ticket.
. I can't see how it be lower cost than an existing line, which is pretty much depreciated and receiving periodic maintenance and upgrades.
Because upgrades are horrifyingly expensive, as the experience of the GWRM, WCRM and any other upgrade project in railway history will tell you.
No, the original point made by another poster was that HS 2 was needed to release capacity on the WCML , my point was that at that point the cost effective solution to that problem would have been convention rail, along an existing disused route. Clearly though that ship has sailed and HS2 is in motion, regardless of its cost effectiveness.
What advantage does a line thats been closed for half a century have over a new one?
I can't think of any.
It has many disadvantages however