MOTORISTS will pay lower toll at the North Luzon Expressway (Nlex) starting Tuesday, the Manila North Tollways Corp. (MNTC) announced on Sunday.

The approval by the Toll Regulatory Board (TRB) of the new toll-rate adjustment formula enabled MNTC to lower its rates at the Nlex for vehicles traveling the entire stretch by as much as P6 for Class 1 vehicles, P14  for Class 2 vehicles and P17 for Class 3 vehicles.

“This means that Class 1 vehicles like private cars and light sport utility vehicles—traveling the entire 84-kilometer stretch—will pay only P174 from the previous toll of P180,” MNTC president Jose de Jesus said. “On the other hand, Class 2 vehicles or buses will pay only a total of P435 from the previous toll of P449, while Class 3 vehicles or trucks will pay only P522 from the previous toll of P539.”

The new toll schedule will be in force at the Nlex for  two-and-a-half years ending December 31, 2010.

The toll rates at Nlex have gone down twice against the backdrop of rising prices in prime commodities like oil, rice and other products used daily by Filipino households.

“The first adjustment was implemented in January 2007 when MNTC reduced its toll rates by 11 percent,” said de Jesus.

With the TRB’s approval of the new formula, MNTC can now facilitate the conversion of its remaining US dollar loans into pesos. “This will allow us to realize the full benefit of a stronger peso under the favorable rate. We decided to pass on such benefit to our customers in the form of lower toll fees,’’ de Jesus said.

Rodrigo Franco, MNTC executive vice president and chief financial officer, said the company had been in discussion with TRB as early as October last year for a change in its toll-rate adjustment formula. He explained the move was calculated to enable the Lopez-led company to remove the dollar factor from its existing toll formula and retire all its dollar loans with peso-denominated notes.

Franco stressed that the formula will result in “the stability of the toll rates.” The next regular rate review will be conducted in January 2011, two-and-a-half years after the July 1 toll-rate adjustment. J. Mapiles

Lower Nlex toll to start July 1

MOTORISTS will pay lower toll at the North Luzon Expressway (Nlex) starting Tuesday, the Manila North Tollways Corp. (MNTC) announced on Sunday.

Petitions to cost Meralco P46B

COULD the government’s thrust to bring down power rates particularly help the industry, at a time when almost all prices factored in to electricity bills are at an all-time high?

BOTH Sulpicio Lines and Del Monte Philippines should pay for the cost of the safe and immediate retrieval of 10 metric tons of the Del Monte-owned toxic pesticide endosulfan from Sulpicio’s sunken vessel MV Princess of the Stars, a legislator insisted over the weekend.

Results of ARMM polls out in two days

THE South American-based company that is one of two firms that bagged the multimillion peso project for election automation at the Autonomous Region in Muslim Mindanao (ARMM) expressed confidence that it will be able to deliver results of the elections in less than two days.