Toll prices on Portuguese motorways could rise by more than 2% from January 1, 2023, taking into account the summary estimate published Tuesday by the National Statistics Institute of the consumer price index (IPC) for October, excluding housing, which stood at 2.01%.
A value that could include an additional 0.1%, taking into account the provisions of an agreement reached a year ago with concessionaires to stop growth at about 10% in 2023.
The annual inflation rate for October excluding housing, which INE is yet to confirm on November 13, is the figure that serves as a benchmark for the annual update of toll rates.
By law, highway concessionaires must submit to the government by November 15 their proposal for a toll revision, which will take effect on January 1 next year, with the government having 30 days to comment.
In both 2020 and 2021, the figure that serves as a benchmark for this price update was negative, with toll rates remaining unchanged, while in 2022 the evolution of the IPC required an increase of 1.83%.
In 2023, faced with an increase scenario of around 10%, the government decided to intervene and limit the increase in toll rates to 4.9%, reaching an agreement with concessionaires, after rejecting proposals for increases of 9.9%, 5% and 10.5%. %.
According to reports, this measure would cost the state 140 million euros.
The agreement stipulated that the responsibility for tolls above 4.9% would be 2.8%, with the remainder borne by the concessionaires, who were given compensation so that they could increase fares by a further 0.1% over the next 4 years. compared to the rate update they would be entitled to.”
Then-Infrastructure Minister Pedro Nuno Santos gave the example for 2024 that fares would increase according to the inflation rate projected for the reference month in the contracts, plus another tenth.
At the time, the government believed that the concessionaires’ proposed increase was “intolerable” and that “it would be unfathomable that, faced with a 10.5% increase, the government would stand by and watch.”
In September, the executive branch approved in the Council of Ministers a 30% reduction in the cost of travel on the A22, A23, A24, A25, A4 and A13 motorways from January 1. This measure will have an annual effect of 72.4 million euros for the state treasury.
Author: Business magazine
Source: CM Jornal
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