London Congestion Pricing Program Statistics Project

London Congestion Pricing Program - Statistics Project Example Since 1977 there was a noticeable and constant decline in the average speed (exhibited in figure 1). In central London drivers were spending 50% of journey duration which was around five miles per hour. An authority of Greater London was created by the "Greater London Authority Act-1999" comprised of the London Assembly and the Mayor of London, where under authority was given to mayor for implementing workplace parking and road pricing individually or combined. LCC or London congestion charging had a main goal of dropping traffic congestion within and in the surrounding of CZ or charging zone. The congestion charge was just like a region permit from the start. From Monday to Friday during 7 a. m. - 6: 30 p. m., any automobile coming or going through, parking or driving in CZ, will have to pay 5 or $ 10 in the beginning. Road signs are put up to indicate confines of CZ. The original capital costs of this project were estimated to be 200 million according to the prices of 2002, approximately 220 million according to prices and values in 2005. The central government provided e major part of it. The extension was made with an estimation of 118 according to prices and values in 2005 and it was funded by the general fund of TfL. A detailed picture of cost and revenues is given in Table 1. The disposable returns from road pricing plans were require... There will be a 10-15% decrease in traffic within CZ, about 30 % lessen queues with an 10-15 % elevated average speed; Around 5-10 % decline in traffic on radial routes and 5% increase of traffic over orbital routes and, resulting an overall effect of 1-2 % decrease in traffic outside the zone. LCC Plan: Conditions and Fundamental Specifications The congestion charge was just like a region permit from the start. From Monday to Friday during 7 a. m. - 6: 30 p. m., any automobile coming or going through, parking or driving in CZ, will have to pay 5 or $ 10 in the beginning. Road signs are put up to indicate confines of CZ. Extension in the Original LCC Project Some extensions were made into the original CZ in the year 2007 and some free corridors were also provided and some other changes were also made. Reimbursement in terms of Costs and Revenues The original capital costs of this project were estimated to be 200 million according to the prices of 2002, approximately 220 million according to prices and values in 2005. The central government provided e major part of it. The extension was made with an estimation of 118 according to prices and values in 2005 and it was funded by the general fund of TfL. A detailed picture of cost and revenues is given in Table 1. Revenues Exploit The disposable returns from road pricing plans were required to be introduced by the Great London Authority Act 1999 through the initial decade of the law 1999-2009. The transport strategy of the mayor was also to be included in this ten yeas allocation. Actually the disposal of potential revenue had to be a mandatory part of any road pricing plan for London. Such net revenue distribution is presented in Table 2. Analysis of the Effectiveness