February 28, 2012
Maybe we could start saving up a few million to invest in the next leg?
Do the existing owners get the revenue from further extensions?
hmm.. 17.2 M$ profit /y / 2.3 M/km = ~7.2 $/Km/y/car
[revenue per trip is different at ~5.89$] Just under 25$/ vehicle/trip for the whole length.
The actual Cost of driving on 407 is ~ 4.36/km because some people take multiple trips.
The Peak Period toll rate for light vehicles travelling in the Regular Zone between Highway 403 and Brock Road will be 24.20 cents per kilometre. 18 wheeler's pay about 3 times the car rate. http://www.newswire.ca/en/story/900817/407-etr-announces-2012-rate-schedule
[profit per km/y.. 17.2M$/108k = 159 000 $]
407 International reports earnings increase from Ontario toll highway
407 International Inc., which operates the Highway 407 toll highway around the periphery of Toronto, announced Wednesday its net income for 2011 was $128.3 million, up two-thirds from $77 million in 2010.
The total number of kilometers driven by customers on Ontario Highway 407 actually decreased about 0.4 per cent, from 2,336,401 in 2010 to 2,325,516 in 2011.
Total revenues were $675 million in 2010, up from $624.3 million in 2010.
Ownership of the firm operating the highway is shared by Spanish company Cintra Infraestructuras S.A., a wholly owned subsidiary of Ferrovial S. A., which owns 43.23 per cent.
Montreal engineering giant SNC-Lavalin Group Inc. owns 16.77 per cent while indirectly owned subsidiaries of Canada Pension Plan Investment Board own 40 per cent.
407 International made a profit of $17.2 million on revenues of $172.8 million for the fourth quarter of 2011. During the same period in 2010, net income was $1.9 million on revenues of $158.3 million.
The average revenue per trip was $5.89 in 2011, up 8.3 per cent from $5.44 in 2010.
Initially opened in June, 1997 and built by Canadian Highways International Corp., the 407 does not include toll booths but reads licence plates or transponder signals and bills the owners of vehicles. It starts at the interchange of the Queen Elizabeth Way and Highway 403 in Burlington, goes north and east through the Halton and Peel regional municipalities, then bypasses Toronto to the north, ending in Pickering for a total route length of 108 km. The province plans to extend it further east to Highway 35 and 115 by 2020.
407 ETR is responsible for all maintenance, construction and customer service, also pays for police enforcement along the highway. The highway lease requires that the firm attract and maintain certain levels of traffic. The province can charge the firm a congestion fee of traffic thresholds are not met.
expansion 2010
anyone who has used the road once ... entered into an “implied contract”
The 407 charges annual interest of 26.82 per cent on unpaid balances, as well as collection fees and other charges that can swell the total enormously.
Many drivers who tried to fight unfair bills gave up and paid, rather than risk being denied a licence plate renewal – an unparalleled power included in the 99-year lease granted to the private consortium that runs the 407.
Extra charges:
- The Video Toll Charge for customers without a transponder will be $3.80.
- The Monthly Transponder Lease Fee will be $3.00 per month. The Annual Transponder Lease Fee will remain$21.50.
- The Monthly Video Account Fee will be $3.00.
A Trip Toll Charge is charged for every trip on the highway based on vehicle size:
- Light Vehicles will be charged 60 cents per trip.
- Heavy Vehicles will be charged 70 cents per trip.
- Heavy Multiple Vehicles will be charged 95 cents per trip.
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