Ticket prices for train services through the Channel Tunnel could be reduced by up to 30% if demand grows, according to a report.
The study by infrastructure consultancy Steer predicted that annual passenger numbers for international train travel on the high-speed line between London and the tunnel could triple from 11 million to 35 million by 2040.
Expected growth and competition could lead to fare reductions of up to 30%, according to the analysis commissioned by London St Pancras High Speed, which owns those tracks and the station in the capital.
There are plans to double the international passenger capacity of St Pancras to nearly 5,000 per hour.
Robert Sinclair, chief executive of London St Pancras Highspeed, said: “This report points to the biggest transformation in international high-speed rail travel in a generation.
“Passengers are increasingly choosing rail over air for climate reasons and because they like the convenience and comfort of direct city centre to city centre travel.
“With collective determination and action, we can triple passenger numbers, lower fares and unlock new destinations across Europe.
“Our growth incentive is a catalyst to help make this vision a reality by supporting operators to introduce new services faster, shaping an exciting future for international rail.”
Several companies are developing plans to run passenger trains through the Channel Tunnel, rivalling Eurostar, which has held a monopoly since the infrastructure opened in 1994.
Sir Richard Branson’s Virgin Group said last week there were “no more major hurdles to overcome” before it could begin services, and it expected to “make an announcement very soon”.
It made the comment after regulator the Office of Rail and Road (ORR) determined that some capacity at Eurostar’s Temple Mills maintenance depot in north-east London could be made available to other operators.
Plans to launch services are also being developed by FS Italiane Group – which has signed a memorandum of understanding with Spanish company Evolyn to potentially form a partnership – and Gemini, chaired by Labour peer Lord Berkeley.
London St Pancras Highspeed recently announced it will offer reduced charges to operators running additional international services on the line, which is operating at about 50% capacity.
Eurostar services from London serve Paris, Brussels and Amsterdam, as well as running seasonal ski trains to the French Alps.
Getlink – the French owner of the Channel Tunnel – believes there is the potential for services between London and locations such as Bordeaux, Cologne, Frankfurt, Geneva, Marseille and Zurich.
