Network Rail misses most quarterly targets
Network Rail failed to meet 12 targets out of 17 according to its third quarterly report.
Q3 covers the period 18 October 2015 – 9 January 2016: It was “an undeniably challenging quarter” says Mark Carne, NR’s chief executive. The country – and the rail network – was battered by storms; the northern part of the West Coast Main Line was flooded and a 500,000 tonne landslip blocked the Settle-Carlisle towards the end of last year.
Following the Hendy Review, Carne says the bulk of the investment programme will be completed by March 2019 but some projects will cost more and may take longer to achieve.
NR’s ‘scorecard’ has 17 performance measures recording performance in six main areas: safety (5); train performance (3); satisfaction (3) financial performance (2); investment (2); and asset management (2).
Regarding the last three measures:
The financial performance measure for total efficiency generated (excluding enhancements) was £121m below target, this being attributable to an underperformance in renewals (signalling, track & civil engineering) and higher wage costs.
The financial performance measure for enhancements was £144m below target. NR says this was due significant increases in estimated final project and programme costs.
On investment, NR achieved nine out of the top ten key milestone renewal and enhancement projects and surpassed its target of eight; six projects have already been completed and nine will be finished by the year end.
But 77% of investment milestone stages for all enhancement projects fell short of the 80% target (mainly due to delays in project development rather than project delivery).
As for asset management, NR’s CRI (composite reliability index) of 14.5% was above the 8.4% target. (CRI refers to the short-term condition of assets).But renewals at 95.6% were below the 100% target. NR says it is facing challenges with switches & crossing and with signalling due to resource constraints and delays to work in a number of locations.