'No excess profits' for new Wales rail franchise holder

The new Wales rail franchise holder will be held to account on issues like punctuality, cleanliness and service quality - or they will not get paid.

The head of Transport for Wales (TfW) said the contract includes key elements of service provision not included before.

The winner - also new South Wales Metro operator - is expected to be unveiled in the next 24 hours.

TfW chief executive James Price said there would be a cap on excess profits.