Network Rail reported today that it had beaten almost all the main regulatory targets set for the company for the past five years.

Issuing its annual return today, a regulatory document charting the company’s progress over the past 12 months and also reporting on achievements over the last five years, the company summarised its performance against the main regulatory targets.

The targets were set for the five years 1 April 2004 to 31 March 2009, with the ORR target below being the target expected to be reached by the end of the five year period. Network Rail met 15 of the 18 targets:

  * Description; ORR target, Actual, Target met?
  * Reduce delays attributed to Network Rail; 9.1m mins, 8.84, Yes
  * Reduce train delays per 100 train km; 1.65 mins, 1.59, Yes
  * Reduce broken rails; 300, 164, Yes
  * Improve track geometry; 0.9, 0.5, Yes
  * Reduce temporary speed restrictions; 1,199, 438, Yes
  * Network capability - keeping the network open; 2001 levels, 2001+, Yes
  * Reduce the instances of earthwork failures; 47, 61, No
  * Reduce signalling failures; 28,098, 19,622, Yes
  * Improve the condition of signalling; 2.5, 2.4, Yes
  * Reduce overhead power line incidents; 107, 66, Yes
  * Reduce third rail power failure incidents; 30, 14, Yes
  * Improve the condition of the overhead line system; 1.8, 1.6, Yes
  * Improve the condition of the third rail system; 1.8, 1.9, No
  * Improve the condition of stations; 2.25, 2.08, Yes
  * Improve the condition of depots; 2.7, 2.5, Yes
  * Improve the condition of infrastructure assets; 0.9, 0.6, Yes
  * Reduce costs; 31%, 27%, No
  * Keep debt to less than 85% of asset value; 85%, 70%, Yes

Despite missing the ORR target for reducing costs, as a result of the company outperforming on so many other fronts that attracted more income, the net financial result was a £1.2bn excess over the five years, most of which was re-invested into the rail network.

Paul Plummer, director of planning and regulation, said: “The company has accomplished a lot over the last five years and has beaten almost every target set for it with passengers and freight users as the primary beneficiaries.

“Our focus now turns to the five years ahead as we work to wisely invest billions of pounds in improving and growing Britain’s thriving railway.”