407 ETR Announces 2009 Rate Schedule
TORONTO, December 31, 2008
407 ETR today announced toll changes which will come into effect on February 1, 2009.
Starting February 1, 2009, peak-hour tolls for light vehicles between Highway 403/QEW in Burlington and Highway 400 will be 19.85 cents per kilometre. Peak-hour tolls for light vehicles between Highway 400 and Brock Road in Pickering will be 19.25 cents per kilometre. The offpeak toll rate for the entire highway is being held at 2008 levels.
Next year, customers without transponders will benefit from a ten percent reduction in the Video Toll Charge and a reduction in the Video Account Fee. Transponder customers will receive a reduction in the Monthly Transponder Lease Fee. The company also announced that it will introduce a Trip Toll Charge of 25 cents for light vehicles for each trip taken on the highway.
“These changes keep traffic moving while maintaining affordable rates,” said Antonio de Santiago, President and Chief Executive Officer of 407 ETR, adding that the company has invested over $1.1 billion in new lanes since 1999 and plans to build over $70 million of new lanes in 2009. “We want to continue to save people time and offer them good value for their money.”
For more details regarding toll rate changes for different vehicle types and sections of the highway, please see the attached chart or visit www.407etr.com.
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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