TfL has today revealed the pricing details of the new cycle hire scheme that is due to be launched next summer. The good news is the first 30 minutes hire-time will be free.
After that things don’t look quite as rosy. You have to choose a membership fee to access the bikes. There is a £1 per day option or £5 week. Money can be saved by choosing the annual membership option at £45. This is quite steep compared to the 30 euro’s you pay in Paris. But, this is London and we love paying lots to get around!
Once you have paid for the membership then there are further charges depending on the amount of use.
If your journey lasts one hour then it will cost £1. For 90 minutes the price is £4 and £6 for up to two hours. The charges then increase incrementally for a period of up to 24 hours.
If you return a bike late the fee is £150. This also applies if your membership fee runs out while you are using one of the hire bikes.
Free 30 minutes
The free 30 minutes is actually really good news because as road.cc reports in 30 minutes you could get from London Bridge to Hyde Park.
Overall I think the scheme is good for reaching out to people that wouldn’t consider cycling to be an option. For the more seasoned cyclists amongst us the only difference we are likely to notice is a few more wobbly cyclists on the roads. The only time I can see myself using it is if for whatever reason I don’t have my bike with me and I want a quick way to get home.
Can you guys see yourselves using the cycle hire scheme? If so when?