The line would be designed to handle up to 18 trains an hour in each direction. The trains, which would be up to 400 metres long, would run initially at up to 225mph, later potentially at 250 mph (400Kph).
Initially there is expected to be a mixture of three High Speed trains an hour between London and Birmingham, and eleven other ‘Classic compatible’ trains which would bypass Birmingham and transfer onto the existing West Coast Main Line near Lichfield.
We have a Freedom of Information report from HS2 Ltd that derives a pass-by noise level of 95dB for a train travelling at 350 Kph (217 mph), measured at a distance of 25 metres. The current proposals are that trains could actually travel at up to 400 Kph (250 mph), and we would expect them to have greater aerodynamic noise.
HS2 Ltd anticipates passenger services running from 5am to midnight, Mondays to Saturdays, and 8am to midnight on Sundays. If freight were to travel on the line, it would have to be at night or very early in the morning, as it would not be possible to mix fast passenger trains and slower freight trains. Track maintenance work would be carried out at night.
Further reading: Wendover HS2 briefing paper on HS2 Technology (pdf file)


