TORONTO, Dec. 31, 2013 /CNW/ - 407 ETR announced the following rate changes that will come into effect on February 1, 2014:

The Peak Period toll rate for light vehicles travelling in the Regular Zone between the QEW (in Burlington) and Highway 410 and from Highway 427 and Brock Road will be 28.30 cents per kilometre. The Peak Period is weekdays from: 6 a.m. to 7 a.m., 9 a.m. to 10 a.m., 3 p.m. to 4 p.m. and 6 p.m. to 7 p.m.

The Peak Hours toll rate for light vehicles travelling in the Regular Zone between the QEW (in Burlington) and Highway 410 and from Highway 427 and Brock Road will be 30.20 cents per kilometre.  Peak Hours are weekdays from 7 a.m. to 9 a.m. and 4 p.m. to 6 p.m.

The Peak Period toll rate for light vehicles travelling in the Light Zone between Highway 410 and Highway 427 will be 26.90 cents per kilometre (28.70 cents per kilometre during Peak Hours).

The Weekday Midday toll rate for light vehicles travelling any part of the highway will be 24.06 cents per kilometre.  The Midday toll rate applies on weekdays from 10 a.m. to 3 p.m.

The Weekend and Holiday Midday toll rate for light vehicles travelling any part of the highway will be 22.25 cents per kilometre.  The Weekend and Holiday Midday toll rate applies on Saturday, Sunday and Holidays from 11 a.m. to 7 p.m.

The Off Peak Period toll rate for light vehicles travelling any part of the highway will remain 19.35 cents per kilometre. The off peak rate has been frozen since 2011.  Off Peak hours are weekdays from 7 p.m. to 6 a.m. and Saturday, Sunday and Holidays from 7 p.m. to 11 a.m.

"407 ETR continues to be the fast, safe and reliable choice that continues to save drivers time and money," said Jose Tamariz, 407 ETR President and Chief Executive Officer.  "Investment in extension and expansion of the highway since 1999 has kept traffic moving."

A recent study by the Conference Board of Canada confirmed that 407 ETR saves customers an average of 26 minutes on their commute, a savings of 36 percent. In many cases where commuters travel 407 ETR routes that run parallel to other routes that are heavily congested, time savings can be much greater than the average. The report also noted that driving 407 ETR can provide other benefits such as reduced maintenance costs and lower fuel consumption.  The study also noted the quality of life benefits drivers may achieve through predictable and consistent commuting times.*

Since 1999, 407 ETR has invested over $1.2 billion to extend, expand and maintain the highway.  In addition to highway extensions to the east and west (40 kilometres), 407 ETR has added over 200 kilometres of new lanes since 2004. In 2014, 407 ETR will open another 16 kilometres of new lanes - one in each direction between Highway 400 and Highway 427.

The cost of all highway extensions and expansions, along with the cost of maintaining the roadway and equipment, snow-clearing, policing and Ontario Ministry of Transportation Enforcement has been done through tolls without the use of any government funds whatsoever.

407 ETR continues to provide customers excellent service and account management options through its website www.407etr.com. 407 ETR offers customers the environmentally friendly choice of paperless billing and also offers customers pre-authorized payment options.  407 ETR customers can save money by leasing a transponder on an annual basis. Trips made using a transponder are not charged a Video Toll Charge.  The annual lease rate for a transponder remains $21.50. The annual lease rate has remained frozen at $21.50 since 2011. A transponder pays for itself after only 6 trips per year on the highway.  In addition, the company is continuing its "no sign-up-required" 407 ETR Rewards Program that has already offered customers more than $80 million in free kilometres and fuel savings.

For details regarding toll rate changes for different vehicle types, times of day and sections of the highway and other fee changes, please see the attached chart or visit www.407etr.com.

*For more information on the study, please see both the Conference Board of Canada and 407 ETR news releases dated December 10, 2013.

407 International Inc. is owned by Cintra Infraestructuras S.A., a wholly owned subsidiary of Ferrovial S. A. (43.23%), by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 40%), and by SNC-Lavalin (16.77%).

2014 Toll Rates - February 1, 2014
(Prices in cents(¢)per Kilometre)

Changes to the 2014 Toll Rate Schedule include:

• The Monthly Transponder Lease Fee will be $3.40.
• The Monthly Video Account Fee will be $3.40.
• The Video Toll Charge for light vehicle customers without a transponder will be $3.95.

The annual transponder lease fee will remain $21.50.

A Trip Toll Charge applies to every trip on the highway based on vehicle size:

• Light Vehicles will be charged 80 cents per trip.
• Heavy Single Unit Vehicles will be charged $1.60 per trip.
• Heavy Multiple Unit Vehicles will be charged $2.40 per trip.

For a complete list of toll and fee schedule changes, please visit www.407etr.com.

For more information, contact:

Kevin Sack [ksack@407etr.com]
Vice President
Communications and Government Relations
Tel: 905-264-5374

BACKGROUND

• Average daily work day trips have increased from about 237,000 in 1999 to over 380,000 in 2012.
• Total annual trips have increased from 71.9 million in 1999 to over 114 million in 2012.
• Over 25% of all traffic is business/commercial and this segment of customer has grown over time and continues to grow.
• The number of transponders in circulation has increased from 346,371 with a user rate of 67% in 1999 to over 1,100,000 and a user rate of over 84% in 2012.
• Average length of a trip on the highway has increased from 17.75 km in 1999 to 20.38 km in 2012.
• Total vehicle kilometres travelled per year has increased from 1.275 billion in 1999 to 2.340 billion in 2012.
• The number and length of trips taken on 407 ETR and increased usage of transponders has happened alongside growth in development, extension of the highway in both the east and west and the widening of the highway by adding new lanes (205 lane kilometres since 2004). Extensions and expansions have been possible through 407 ETR (Express Toll Route) investments of over $1.2 billion to keep traffic free-flowing.
• Investments in safety initiatives, both on and off the road have continued to provide customers a fast, safe and reliable trip. Safety events and sponsorships continue to demonstrate 407 ETR's commitment to its customers.
• 24/7 monitoring of highway and conditions from our control room - safety patrollers can assist drivers and call for emergency responders when needed.
• 407 ETR is barrier free - with no congestion causing toll booths.
• 96% percent of customers report being satisfied with 407 ETR customer service. Over $110 million has been invested to ensure excellent customer service and the average wait time when calling into the 407 ETR Call Centre has been under 30 seconds for 8 years.
• Customers have many account options such as Paperless Billing and Pre-Authorized payment.
• 407 ETR continues to appreciate customer loyalty and has offered more than $80 million to customers as part of its "ETR Rewards" customer loyalty program.
• In addition to several national and international awards, 407 ETR was awarded the Intelligent Transportation Systems Society of Canada first-ever New Canadian Commercial Technology/Innovation or Research and Development Award for its vehicle fingerprinting system.

SOURCE 407 ETR Concession Company Limited