Ride-hail (TNS) rates
Ride-hail companies use dynamic pricing to increase supply during peak periods by increasing rates and to attract more passengers during off-peak periods by lowering rates. Dynamic pricing is a flexible approach to setting the cost of a service. It’s meant to reflect changing market conditions and to incentivize behaviour.
The Passenger Transportation Board (Board) sets minimum rates to be charged for ride-hail (TNS) trips in B.C. based on the operating region. This minimum rate is based on taxi flag rates for the region. For ride-hail trips, passengers agree to pay an up-front fare and that fare must not fall below the minimum rate.