Elon Musk?
My understanding is that long distance peak Anytimes are unregulated and therefore set by the TOC. Happy to be told I am wrong.
My understanding is that peak local fares are regulated.
Peak commuter fares in the north would be fine except northern pulled some sneaky moves with raising fares by stealth by altering ticket validity. In the SE they are too high and I think will have to come down if they don’t want to be carting fresh air. So that one is a DfT decision.
However in terms of multiples of off peak fares, it is the long distance ones that are the clear winners for stupidity and my understanding is that TOCs in franchise days could have reduce those had they wished. They didn’t, now hardly anybody is willing to be ransomed anymore and so the DfT will need to decide whether to be stupid or sensible in its new found role micromanaging the railway, an operational entity its civil servants have absolutely no clue or experience of how to run as their inability to even choose a seat and a bit if fabric testifies. As I have said before, there is great danger in this period before botched GBR arrives. The RMT is going to put lots of discretionary passengers off using the service having failed to wake up to the fact they can’t ransom on the basis of shutting down commuter flows any more. We are already seeing that all over the place. Meanwhile the Tories will continue their usual arrogant we know best micromanaging and cause great damage. Why anybody voted for this shambles and expected anything else as a result is beyond me.
I actually agree with a fair bit of that.
The point really is that the market which has been hit is both long and shorter distance regular commuting - ie anytime (peak) tickets and season tickets - which tend to be regulated hence TOCs cannot control these.
I haven’t checked to see whether there are long distance peak tickets which are unregulated but, if there are, they will be a relatively small part of the overall picture. More could be done here - for example there still aren’t properly flexible season tickets - that’s entirely down to the DfT.
Off peak and weekend leisure travel there’s more discretion over but, as we keep hearing, that is now 100% or better than pre Covid in many cases so if anything there may be more scope to increase prices here (depending on price elasticity, eg. London to Brighton over a sunny bank holiday weekend or for Pride will be a lot less price elastic than other leisure journeys).
I must say the continuing “fresh air” comments on here do raise a smile. Having just stepped off a packed Thameslink train and walked through a thronging London Bridge to board an equally full and standing SE Metro train, I’d disagree that the fares are too high. Demand has massively stepped up over the last few weeks.
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