When highway officials revealed recently that likely tolls from Interlocken to Denver with new U.S. 36 express lanes would be $7.75 at peak time with a pass, or $13.83 without one, the figures turned a lot of heads — ours included.
That sounds fairly pricey — especially considering many of these commuters will still have to pay for parking once they arrive.
But to a certain extent, the tolls are self-regulating. Plenary Roads Denver, the company contracted to manage the U.S. 36 project, must tread carefully when setting rates for the toll road expected to open this summer.
Too high, and no one will use the lanes and the company won’t be able to service its debt and will lose out on expected profits.
Too low, and the lanes will be flooded with motorists, nullifying promised benefits of the project, such as a quicker and less congested alternative to unrestricted lanes.
Plus, the company agreed not to make tolls less than RTD’s proposed bus fare so as not to compete with the new bus rapid transit program.
Plenary believes it has found the sweet spot with the $7.75 toll from Interlocken to Denver during the peak period, or nearly $14 for vehicles without a transponder. The afternoon trip would be $6.85 with a transponder and $12.53 without.
The state’s High Performance Transportation Enterprise Board was smart this week t on the tolls until more public meetings could take place. People along the northwest corridor want more input, and they deserve it.
One thing is for sure: the exorbitant cost of traveling without an Express Toll pass will ensure most people get one for their cars. However, the new system will require a transponder with a switch to toggle into carpool mode — a slight hassle for people to obtain before the lanes open this summer.
the proposed toll fares “somewhat high relative to rates on comparable assets” and said the public’s possible “toll sensitivities” could hurt the company’s bond ratings in the long run.
That is not the state’s concern, said Amy Ford, spokeswoman for the Colorado Department of Transportation. All of the risk is with the company.
Plenary must get it right. At first glance, the fares do seem high. But how much are drivers willing to pay for unfettered travel?
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