TfL scraps Peak Fares on Fridays - What does this mean for you?

Photo Courtesy : IanVisits

As of last week, TfL launched its trial scheme to drop Friday peak fares. This means that most tube and rail fares will be set at cheaper off-peak prices throughout the day until the end of May. This applies to Oyster cards as well as contactless payments, and comes on the back of Mayor Sadiq Khan’s decision to freeze single fares until March 2025.

Peak fares usually apply from 06:30 to 09:30 in the morning and, with some exceptions, to journeys made between 16:00 and 19:00 in the evening. Although TfL and the mayor are behind the move, passengers on some National Rail services will also benefit from cheaper fares. All stations at which passengers can pay through  contactless payment methods, such as Potters Bar or Gatwick Airport, are included, despite being outside the London fare zones and outside of TfL’s remit. 

The daily cap on Fridays will also be set to off-peak levels. In practice though, passengers staying within zones 1 to 6 won’t see a change, but those travelling from further afield will. The zonal caveat does not apply to those with a Railcard linked to their Oyster Card as they would benefit from the lower off-peak cap being applied all day on Fridays, alongside their standard 33% discount on tube and rail fares even during peak hours.

The experiment shows that London’s transport network has for the most part recovered from the effects of the pandemic with TfL set to announce its first ever operating surplus this year. This has given it and the mayor some leeway to try to lure passengers back onto the network. 

Although TfL will be unlikely to recoup the lost revenue from the lower fares from increased passenger numbers, the mayor is hoping the trial will encourage those working from home on Fridays to come into the office and boost the city’s F&B and leisure industries in the process. As part of the experiment, TfL and the mayor have struck deals with various businesses to offer discounts on Fridays to further entice prospective visitors. It remains to be seen whether a saving of a couple of pounds will change post-pandemic working patterns.