Network Rail has confirmed that it will not meet its efficiency targets for the period between 2004 and 2009 (Control Period 3 or CP3)
The Office of Rail Regulation (ORR) had previously predicted the rail operator would miss its target of 31% efficiencies on unit costs, but in its periodic review of Network Rail, published in October, efficiencies were projected to be down to around 27%.
A Network Rail spokesperson said: “The numbers have not been finalised yet but it looks like we will miss our efficiency targets, largely because of track renewals.
“This is why we are looking to phase some of the work over this control period so that some initiatives can speed-up, so we can back-end it and generate efficiencies that way,” he said.
Network Rail plan to begin live trials of modular points replacements in September (see NCE 6 November 2007), which they hope will begin to reduce its renewals costs and eventually bring possessions down to 8 hours.