TLCI review of taxi rates
August 23, 2023
Board allows taxi rate increases of up to 7.3% based on rise in CPI
Taxi licensees can request a 2023 TLCI taxi rate increase of up to 7.3%. The Passenger Transportation Board (Board) is now accepting completed TLCI request forms until the request deadline of September 17, 2023.
The Board established the TLCI as an objective way to identify periodic rate increases as operating costs rise. The TLCI uses the Consumer Price Index (CPI) for BC to track annual cost changes and the Board established a threshold of 2% that must be met in order for TLCI to be made available. TLCI provides an efficient and fair way for taxi licensees to obtain periodic increases when operating costs rise as it strikes a balance between the interests of transportation operators and the consumers they serve.
In 2022, a combined 2020/2021 TLCI of 5.3% was offered. In 2022, the Board also considered CPI trending for January and February 2022 in addition to 2021. In 2023, as the Board offers its final intake of TLCI before implementation of the Board’s Custom Taxi Cost Index, the Board considered CPI BC data for the remainder of 2022 (March – December) and a portion of 2023 (January – June).
Should licensees want an increase larger than 7.3% or to request an increase outside of the TLCI process, a change of rates application must be submitted.
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TAGS: Taxi, Policy updates