The Pennsylvania Turnpike Commission (PTC) has approved a six-percent toll increase for all E-ZPass rates systemwide and for PA Turnpike TOLL BY PLATE rates that had been established before last month’s permanent conversion to All-Electronic Tolling (AET).
The increase — slated to take effect at 12:01 a.m. on January 3, 2021 — will enable the PTC to continue to maintain and operate its system and ensure safe travel for up to 500,000 daily customers.
“The primary driver of the annual toll-rate increases continues to be our quarterly transit payments to PennDOT and the resulting debt service that comes along with the legislatively mandated funding obligation,” said PA Turnpike CEO Mark Compton . “As a result, the PA Turnpike has delivered almost $7 billion in funding to PennDOT in the last decade, primarily to support mass-transit operations in Philadelphia and Pittsburgh.”
Compton said the PTC’s debt-service costs on outstanding Act-44 bond debt are $440 million annually and growing; this amount must be paid each year even if the Commission seeks, and is granted, deferment of a quarterly Act-44 payment — as it recently did to partially offset revenue impacts of the COVID-19 pandemic.
Full details are posted HERE
