407 ETR Announces 2008 Rate Schedule
TORONTO, December 28, 2007
407 ETR announced today that light-vehicle tolls during peak hours will increase by 1.65 cents per kilometre on February 1, 2008. Combined with more lanes added in 2006 and 2007, the new rates will help keep traffic flowing on the highway.
“Highway 407 was built to be an express route which offers a fast, safe and reliable trip,” said Antonio de Santiago, President and Chief Executive Officer of 407 ETR.
“We keep traffic moving by adding new lanes and setting toll rates which balance affordability with keeping traffic moving,” said de Santiago, noting that 407 ETR has invested over $200 million since 2003 to add over 100 kilometres of new lanes between Highways 401 and 404.
Currently, rates on the highway vary based on vehicle size, time of day, transponder use and distance travelled. Starting February 1, 2008, peak rates on the highway will also vary slightly based on the section – or zone – of the highway travelled. The Regular Zone will be between Highway 401 and 404 – the busiest section of the highway where lanes have recently been added. The Light Zone is the remainder of the highway, from the QEW in Burlington to Highway 401 and from Highway 404 to Brock Road in Pickering.
The Regular Zone peak rate for light vehicles (cars, motorcycles and SUVs) will be 19.25 cents per kilometre. The Regular Zone peak rates for heavy single unit vehicles (trucks) and heavy multiple unit vehicles (18-wheel trucks) will be 38.50 cents per kilometre and 57.75 cents per kilometre, respectively.
For Light Zone and Off-Peak rates, please see attached chart for full toll rate details.
For over 800,000 transponder customers, 407 ETR will offer a 30 percent discount on the transponder lease fee to those customers who choose an annual transponder lease fee, rather than a monthly fee.
407 ETR Concession Company Limited (“407 ETR”) is the operator and manager of Highway 407, which extends 108 kilometres east-west, just north of Toronto. 407 International Inc., the sole shareholder of 407 ETR, is owned by a consortium comprised of Cintra Concesiones de Infraestructuras de Transporte, Macquarie Infrastructure Group and SNC-Lavalin.
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For more information, contact:
Dale A. Albers
Manager, Public Relations