SINGAPORE - Public transport operators SBS Transit and SMRT have submitted their applications for the annual fare review exercise, which started earlier this month (Sept 3).
Based on the fare formula, bus and train fares can be increased by as much as 4.3 per cent, or 10 cents, per journey.
SBS and SMRT said in separate statements on Friday afternoon (Sept 28) that they have made their submissions to the Public Transport Council (PTC), ahead of the Oct 1 deadline.
The fare formula this time has a new component - network capacity factor (NCF) - which tracks how much bus and rail capacity has changed in relation to actual usage.
The NCF accounts for 3 percentage points of the possible fare increase, which the PTC has said "reflects the effort to provide commuters with more convenient and less crowded rides over the last year".
Combined with higher energy prices, along with increases in wage and core consumer price indexes, the fare increase allowed would be as high as 7.5 per cent.
But due to a 3.2 per cent fare cut which was carried over from last year, the cap would be 4.3 per cent.
The PTC will announce its decision on the fare adjustment quantum in the last quarter of this year.