It's a new year, and with that, higher prices are coming for commuters on highway 407.
Annually updating its rate schedule, 407 ETR has maintained tolls at February 2020 levels at the onset of the COVID-19 pandemic. The decision to implement the 2024 rate schedule is correlated to the stabilization of traffic levels as more drivers return to regular commuting.
407 ETR President and CEO, Javier Tamargo said that traffic on the 407 has increased by 70% over 25 years as "Ontarians continue to recognize the value of a safe, fast and reliable commute."
The newly proposed rate schedule for light vehicles suggests an increase ranging from one to eleven cents per kilometre, contingent on factors such as the time of day and the zone traveled. The majority of individual customers can expect a monthly bill uptick of less than $5.
What are they doing with the money? According to the press release, "The Company continues to invest in the operation of the highway including ongoing maintenance, 24/7 highway monitoring, roadside assistance, winter operations and policing and enforcement."
Having taken ownership of the highway in 1999, 407 ETR has substantially extended its length from 68 to 108 kilometres, injecting over $1.6 billion in what they outline as "private funds toward highway extensions, expansions and customer service."
Click here to view full rates and fees schedule.