TORONTO, Dec. 31, 2018 /CNW/ - 407 ETR today announced updates to its tolls and fees that will come into effect on February 1, 2019, helping ensure the highway remains safe and free flowing for the tens of thousands of Ontario families and businesses who rely on it every day. Details of the new rates and fees are outlined on the attached backgrounder and available on the 407 ETR website.

Revenue from tolls help manage traffic congestion and pay for critical highway operations such as policing, snow clearing, maintenance operations, and safety patrols that operate 24/7. No taxpayer dollars have contributed to the construction, expansion, extension or maintenance of the highway since 1999, when 407 ETR paid $3.1 billion to the Ontario government for the contract/lease to operate the highway. Since then, 407 ETR has invested more than $1.6 billion into improvements to customer service and the highway, including over 250 new lane kilometres since starting operations – almost half the current capacity of the highway.

407 ETR plays a vital role in supporting Ontario's economy and improving the daily lives of Ontarians. More than 410,000 trips are taken on the highway each workday, a 74 per cent increase since 1999. Business customers of all types now make up about one-third of the trips on the highway; leveraging the toll road to deliver goods and services on time.

"We're proud to play such an important role in getting Ontarians where they need to go," said Andres Sacristan, 407 ETR President & CEO. "Whether moving valuable goods to a small business, driving to your child's hockey game, or getting to a crucial meeting with a new client, drivers depend on 407 ETR to get to life's big moments safely and on time."

Almost 60 per cent of customers surveyed say that every time they use Highway 407 ETR, they save 20 to 60 minutes per trip. In addition, more than 70 per cent of customers report that the savings they achieve on the toll road in time, fuel and vehicle maintenance costs offset some or most of their tolls.

2018 was a year of major investment, as 407 ETR added a new lane in each direction at the east-end of the roadway, added new bridge structures, resurfaced many kilometres of existing asphalt and concrete lanes. The company also completed a multi-year project to update its roadside technology. Excellent highway maintenance keeps the roadway safe and ensures every driver has a quality trip. While not a requirement of the contract to operate the highway, the company (in addition to paying for all the daily operational costs of policing) invested $7 million in a new Ontario Provincial Police (OPP) Detachment building from which the OPP now operates much closer to the highway. 407 ETR also opened new yard and maintenance facilities to help ensure rapid response to incidents and weather events along the highway.

407 ETR's many multimillion-dollar investment projects continue to demonstrate the value, both in terms of expertise and efficiency, that the private sector can bring as a partner in major public transportation infrastructure.

407 International Inc. is owned by Cintra Global Holding Limited, 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%).

For a complete list of tolls and fees, please visit www.407etr.com.

Quick Facts

• Average daily workday trips have increased from 237,000 in 1999, to over 413,000 in 2017.
  
  
• Total annual trips have increased from 71.9 million in 1999, to over 125 million in 2017.
  
  
• Total vehicle kilometres travelled on 407 ETR per year has increased from 1.275 billion in 1999, to 2.708 billion in 2017.
  
  
• The number of transponders in circulation has increased from 346,371 with a user rate of 67% in 1999, to over 1,434,000 and a user rate of over 80% in 2017.
  
  
• Total lane km available has increased from 643 in 1999 to over 1,200. Almost 50% of the lane km now in use were constructed after 1999 (when 407 ETR Concession began operating).
  
  
• 1,750 buses rely on 407 ETR to move more than 85,000 passengers every weekday as the toll road provides predictable travel times for public transit systems that use it daily.
  
  
• 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 407 ETR by adding new lanes (over 250 lane kilometres since 2004).
  
  
• 24/7 monitoring of the highway and road conditions from 407 ETR's control room keep the highway safe and free-flowing – safety patrollers can assist drivers and call for emergency responders when needed.

BACKGROUNDER

2019 Toll Rate and Fee Schedule

The following fees for light vehicles remain the same as 2018:

• The Monthly Transponder Lease Fee is $3.95.
• The Monthly Video Account Fee is $3.95.
• The Trip Toll charge for light vehicles is $1.00.

The following fees for light vehicles are changing on February 1, 2019:

• The Camera Charge for light vehicle customers without a transponder will be $4.20.
  
  
• The Annual Transponder Lease fee will be $24.50. An additional transponder remains $9.95 per year, leased annually or $1 monthly. Leasing a transponder annually provides a savings of almost 50% over paying monthly. Where a driver makes more than six trips a year the transponder is paid for by avoiding the $4.20 per trip camera charge.

NOTE:

When the entry or exit of a vehicle is not recorded, a calculated toll will be applied. For details on calculated tolls, please visit www.407etr.com.

SOURCE 407 ETR Concession Company Limited