The Association of Train Operating Companies (ATOC) has provided figures indicating that fares will increase by an average of 6.2% in the new year. Regulated fares which include season tickets will go up by an average of 5.8% but some increases could be as high as 10.8%.
Regulated fares are tied to an annual price cap formula meaning fares can increase each January only by the previous July's RPI inflation rate plus 1%. Hence the 5.8% average rise for 2011. However, companies are able to put up some fares by more than 5% as long as other fares decrease at the same rate. Precise details of NXEA fares are not known at this stage.
In January 2012, passengers will have to dig even deeper into their pockets when the annual price rise formula changes to RPI plus 3% across the national network.