The UK's Association of Train Operating Companies (ATOC) has decided to review future rail fares policy on behalf of train companies.
The review, which will look into a range of issues relating to fares policy, will also consider the contentious topic of balance of railway funding between the fare-payer and the taxpayer.
The move is significant as it follows the government's recently stated aim to fund 75% of the railway industry's cost with the money raised from fares, as opposed to the current 50%.
Chief executive of ATOC Michael Roberts said it is the right time to carry out the review as train companies could help shape government thinking on the topic of funding for rails following the general election.
"The fares system has recently been simplified and fares have risen less in real terms than disposable income since privatisation, yet the level and structure of rail fares remain the focus of hotly-contested debate," Roberts said.
ATOC is likely to publish a report with potential recommendations during the summer.