RIGA - The board of municipal public transport company of the Latvian capital Rigas satiksme submitted to the regulator - the Public Utilities Commission (PUC) 's new plans for the public transportation fares.
According t the news agency LETA the company has agreed to ask PUC to raise the tariffs to 30 santimes instead of 40, as it was planned before.
Rigas satiksme has made additional estimates, as required by the regulator, freezing investments in the amount of 8.8 million lats, so that the new fares could be set at 30 santims.
The company made additional calculations for depreciation deductions and re-calculated its accounting profit, which the company had originally intended for covering losses from previous years, as well as for future development of public transportation.
In words of Rigas Satiksme Chairman of the Board Leons Bemhens, if tickets for public transportation will cost 30 santims instead of 40, then buses, trolley-buses and trams would run 20 percent rarer than they are running now.
Bemhens also said that expressions by PUC officials on the inadequately high profit for the company were unfair, because the company needed profit for investments.
Officials from The Riga City Council's Traffic and Transport Affairs Committee supported allotting an additional 5.235 million lats subsidy to the Rigas satiksme company, if the regulator sets a 30-santime fare instead of 40 for city buses, trolley buses and microbuses, starting Feb. 1, 2007.