OTTAWA, September 27, 2018 /CNW/ – The Federal Bridge Corporation Limited (FBCL) announced today that it has approved a toll rate increase for the Blue Water Bridge. The new rates, effective November 1, 2018, are indicated in the table below with corresponding equivalency in US currency.
|Previous Rate||New Rate||US Currency|
|Commercial Per Axle||$4.25||$4.50||$3.50|
FBCL last increased Canadian toll rates in April 2016.
In making its decision, FBCL management considered the stagnant traffic patterns over the past year, the rising costs of maintaining facilities for bridge operations and partner agencies, the requirement to build a reserve for long-term re-investment for improvements to the Blue Water Bridge Plaza as per its Master Plan and the need to continue financing the existing debt of the bridge until 2027.
In an effort to assist customers to mitigate the increase, especially frequent travelers, the Corporation will be announcing details related to its new ConneXion program. ConneXion an automated, prepaid frequent crossing program is scheduled for a November launch. Registered ConneXion participants will be eligible for discounts below the posted rates. Additional details about this exciting new program will be provided in October.
The next toll rate and U.S. equivalency review is scheduled for April 1, 2019.
This toll rate policy is aligned with other international crossings, where tolls are reviewed and adjusted, if necessary, based on economic needs and the value of the exchange rate, on a regular basis.
Rates at Blue Water Bridge are reviewed semi-annually based on traffic levels, economic forecasts and funding needs for long-term capital requirements. Additionally, the toll rate value in U.S. dollars (USD) is based on the average daily currency exchange rate, as published by the Bank of Canada, for the previous six-month period. Changes typically take effect on April 1st and October 1st each year. Rate adjustments are made to the nearest $0.25.
FBCL owns, manages and operates international bridges and associated structures in Sault Ste. Marie, Point Edward, Lansdowne (Thousand Islands) and Cornwall, Ontario. FBCL’s mandate is to provide the highest level of stewardship so that its international bridges and associated structures are safe and efficient for users.
SOURCE Federal Bridge Corporation Limited