Ticket prices on high-speed rail and Eurostar services could be reduced - while freight operators could see prices slashed in half.

It comes after government regulator the Office of Rail and Road (ORR) said reductions should be made on the amount charged for services using High Speed 1. Currently, tickets for passengers can cost 30% more using high-speed services as opposed to the traditional rails.

The government granted a 30-year concession to run the route to HS1 Ltd - an investment consortium - for £2.1 billion. It now owns, operates and maintains the 68.3 mile stretch of fast rail which links St Pancras International in London to the Channel Tunnel.

Operators using the route - for passenger or freight purposes - have to pay HS1 Ltd to do so. Additional charges for continental services are then levied by Getlink, owner of the Channel Tunnel.

But the HS1 cost could be set to fall after the ORR recommended Southeastern - which operates fast domestic services to St Pancras - see a 10.8% drop in the amount it is charged.

The same report says Eurostar - which has not operated from Kent’s two international stations at Ashford and Ebbsfleet since the pandemic - should see the amount it is charged reduced by 7.7%. For freight, the recommendation is for a huge 66% cut.

Feras Alshaker, director, planning and performance at ORR, said: “HS1 is a vital connection between the UK and continental Europe and makes a crucial contribution to the UK economy, supporting growth.

“It is important that it continues to be a resilient, high performing network for both passengers and freight users.

"The detailed scrutiny and challenge we’ve applied to HS1 Ltd’s plans should see the costs of operating on the line reduce significantly, giving savings for both international and domestic operators over the next five years, with benefits for passengers and freight users."

The ORR set out its proposal to lower access charges after carrying out a review of the company’s spending plans.

In what is termed the ‘draft determination’, it sets out ORR’s view of HS1 Ltd’s five-year spending plans for the high speed line, from 2025 to 2030.

It found the company has produced “good quality” plans but there are “opportunities” for “further efficiency”, resulting in savings to its passenger and freight train operator customers.

HS1 Ltd chief strategy and regulation officer Mattias Bjornfors said: “Our plan for 2025-2030 included several proposals to reduce charges for freight and transport operators which have been accepted.

“HS1 has already driven down costs and improved performance by investing in innovative technologies and working with partners to make multimillion-pound savings and reduce train delays.

“We anticipate further services on the HS1 route will lead to lower charges for operators.”