From Friday 2 January 2015 TFL are simplifying the extra ride charges for journeys over 30 minutes.
From 00:01 Friday 2 January 2015 longer journeys will now cost £2 for each extra period of up to 30 minutes. All other charges will remain the same.
The simplification of the Cycle Hire charge structure is estimated to be revenue neutral and was driven by the objective of making the scheme simpler for customers to use.
http://www.tfl.gov.uk/info-for/media/press-releases/2014/december/cycle-hire-charges-to-be-simplified-in-the-new-ye
2014 ride charges after the free 30 mins:
Up to 1 hour £1
Up to 1 hour 30 minutes £4
Up to 2 hours £6
Up to 2 hours 30 minutes £10
Up to 3 hours £15
Up to 6 hours £35
Up to 24 hours £50
2015 ride charges
Up to 1 hour £2
Up to 1 hour 30 minutes £4
Up to 2 hours £6
Up to 2 hours 30 minutes £8
Up to 3 hours £10
Up to 6 hours £22
Up to 24 hours £46
97% of member journeys and 76% of casual hires fall within the free 30 minute period
7 day access period is also being withdrawn. Currently only 2% of hires are made with the 7 day access
That’s a shame. Most of my journeys are 40 minutes and if this becomes £2 per journey (i.e. £4 per day) , then it’s getting close to the cost of using the tube. Might have to do some journey splitting now..
Simpler to use? This looks more like a revenue generation exercise to me. I bet 97% of the excess fares are for journeys between 31 and 60 minutes. Doubling the cost of going one minute over 30 is cynical rather than simple. TFL should extend the initial period to 45 minutes to compensate.