Regulation
Exception to the Norm
The Greenway is the only privately-owned toll road in Virginia not regulated by VDOT. Instead, it is regulated by the State Corporation Commission (SCC)—a regulatory agency that oversees insurance, banking, and utilities.
Across the country, all privately-operated toll roads have contractual agreements with their states/owners that establish predetermined toll adjustments or mechanisms that tie toll increases to the Consumer Price Index (CPI). These agreements provide toll operators and drivers with long-term financial certainty, allowing for the planning and investment in infrastructure and operational improvements including technological upgrades. The Greenway’s current regulatory framework provides no such certainty.
Each year, the Greenway must apply to the SCC for toll adjustments without a guarantee in timeline for receiving a response. This prevents the Greenway from giving customers toll price certainty years in advance and disrupts the financial forecasts for capital improvements.
All other private toll roads in Virginia operate under the Public-Private Transportation Act (PPTA), with oversight from the Virginia Department of Transportation (VDOT). The PPTA did not exist when the Greenway was built in the 1990s, leaving it as an outlier in an outdated regulatory framework.
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