Transport for London (TfL) has confirmed the daily congestion charge will be increased by 15%, from £10 to £11.50.
TfL says it is introducing a number of changes to the congestion charging scheme to maintain its effectiveness at managing congestion and to improve customer service.
The price hike, from £10 to £11.50 (or £10.50 if paid using CC Auto Pay or £14 if paid the next charging day), follows a public consultation that took place earlier this year.
It is the first increase since 2011 and the change will come into effect on June 16.
TfL says that the increase will ensure the charge remains a relative deterrent to all but the most essential journeys into the centre of London, while raising £82.7 million over the course of the next five years, which will be re-invested into London’s transport network – including modernising London’s roads infrastructure.
Since the congestion charge was introduced in 2003 more than £1.2 billion of revenue has been re-invested in transport, including £960m on improvements to the bus network, £102m on roads and bridges, £70m on road safety, £51m on local transport/borough plans and £36m on sustainable transport and the environment.