PERFORMANCE TARGETS set by the regulator require Railtrack to cut the number of delays it causes by an average of 2.5% a year over the next five years.
This year's target of 7.8% includes a 5% reduction, plus a catch up of last year's shortfall.
Railtrack described the figures as 'demanding'.
The figures allow Railtrack an extra year to make up the shortfall in efficiency gains from 1999/2000. But while failure will result in financial penalty, if Railtrack beats the Regulator's targets it will be paid a bonus.
Winsor has accepted that Railtrack's poor performance this year was partly due to unusual factors including flooding, terrorism, suicides and the fuel crisis. But projections do not take account of these factors next year.
The regulator also revamped the penalty system so that Railtrack is only punished if it under performs in consecutive years.