Motorists have paid nearly $13 billion to drive on CityLink since it opened 24 years ago – and they’re going to pay billions more, with prices rising up to three times faster than inflation.
Motorists have paid nearly $13 billion to drive on CityLink while toll prices have grown up to three times faster than inflation since the road opened 24 years ago.
“It means – especially given the cost-of-living crisis – that many people are paying more to use the toll road than they should,” he said. From July 1, it will cost $22.31 for a daily pass to drive a car on CityLink, which spans from the Monash Freeway in the eastern suburbs to the Tullamarine Freeway in the north-west. That compares with $7.70 when the road fully opened in December 2000 – an increase of 190 per cent, more than twice the rate of inflation over the same period .
The Parliamentary Budget Office found in 2019 that those contract changes would deliver $4.7 billion in additional revenue to Transurban by 2045, and an additional $7.5 billion when including traffic from the West Gate Tunnel, using 2019 dollars. Hensher, from the University of Sydney, said state governments had been attracted to private toll roads as a way to get new road infrastructure built without adding debt to their balance sheets, while also getting the perceived efficiency of private sector deliveryHowever, fixing toll rises in contracts – rather than setting them based on time savings for motorists and benefits across the wider network – had been a mistake, he said.
S&P Global Ratings infrastructure analyst Parvathy Iyer said it was difficult to estimate how profitable CityLink had been for Transurban in isolation from its other assets because of how the company structures debt and costs across the group.
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