E-470 to reduce toll rates beginning in 2022
Toll rates for E-470 in the Denver metro area are going to be lower beginning in 2022, the E-470 Public Highway Authority announced Thursday.
On Jan. 1, the toll will decrease by $0.05 at all mainline tolling points and by $0.10 at Toll Plaza A, one of the busiest points south of Douglas County. Another $0.05 and $0.10 reduction will go into effect on Jan. 1, 2023, and Jan. 1, 2024.
“E-470 is not just about collecting tolls. We serve as a partner to the communities we serve during these challenging times,” said Chairman Chaz Tedesco. “While some toll agencies and other services and products around the U.S. had to raise rates amid the pandemic, our financial stability allows us to continue to provide savings and value to our customers.”
Currently, the tolls are between $2.70 and $2.95 for two-axle vehicles using ExpressToll and between $4.30 and $4.65 for two-axle vehicles using license plates.
The E-470 Board of Directors froze toll rates through 2021 after suffering a significant decrease in traffic on the road due to the COVID-19 pandemic, using cash reserves to make up for the economic impact. Traffic has since begun returning to normal volume, Tedesco said.
In October, there were more than 7.3 million toll transactions on E-470, according to the board. The road’s traffic volume is projected to return to 2019 pre-pandemic levels by 2023.
The rate reduction was unanimously approved by board members. In addition to the rate reduction, the new policy will extend E-470’s 2020 pilot program through 2024, offering discounted toll rates for vehicles of three or more axles using ExpressToll.
E-470 has $1.4 billion in outstanding bond debt, which is scheduled to be paid off in 2041, according to the board. This year, $0.41 of every toll dollar has been put toward paying the debt.
E-470 to reduce toll rates beginning in 2022
Toll rates for E-470 in the Denver metro area are going to be lower beginning in 2022, the E-470 Public Highway Authority announced Thursday.
On Jan. 1, the toll will decrease by $0.05 at all mainline tolling points and by $0.10 at Toll Plaza A, one of the busiest points south of Douglas County. Another $0.05 and $0.10 reduction will go into effect on Jan. 1, 2023, and Jan. 1, 2024.
“E-470 is not just about collecting tolls. We serve as a partner to the communities we serve during these challenging times,” said Chairman Chaz Tedesco. “While some toll agencies and other services and products around the U.S. had to raise rates amid the pandemic, our financial stability allows us to continue to provide savings and value to our customers.”
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Currently, the tolls are between $2.70 and $2.95 for two-axle vehicles using ExpressToll and between $4.30 and $4.65 for two-axle vehicles using license plates.
The E-470 Board of Directors froze toll rates through 2021 after suffering a significant decrease in traffic on the road due to the COVID-19 pandemic, using cash reserves to make up for the economic impact. Traffic has since begun returning to normal volume, Tedesco said.
In October, there were more than 7.3 million toll transactions on E-470, according to the board. The road’s traffic volume is projected to return to 2019 pre-pandemic levels by 2023.
The rate reduction was unanimously approved by board members. In addition to the rate reduction, the new policy will extend E-470’s 2020 pilot program through 2024, offering discounted toll rates for vehicles of three or more axles using ExpressToll.
E-470 has $1.4 billion in outstanding bond debt, which is scheduled to be paid off in 2041, according to the board. This year, $0.41 of every toll dollar has been put toward paying the debt.