I don't agree, it is obviously too much, but when you consider fare income was £8.6bn it is about 1% of that income.
What I would be interested to know is do Toc's still receive money for delays from Network rail (and others) and how does that work with their fixed fee contracts?
Under franchising a lot of the toc profit (this was true for
GWR▸ ) was made up of delay payments from Network Rail as the amount paid to the customer for delays was always much less than that paid from
NR» to the toc. Of course not all compensation comes from NR as the toc will also be responsible for delays and therefore compensation.