Sydney drivers paid a record $835 million in tolls in the past six months, with leading tolling company Transurban telling investors it had benefited from record traffic on Sydney roads.
The company also said it was in a good position to reap the rewards of inflation, with tolls set to rise in coming years.
Tolls had already crept up by six per cent across Sydney, the market update noted in its highlights section, released to investors on Tuesday.
The report also says the company is "well positioned for rising inflation and interest rates" and can expect tolls to rise by 20 per cent over the next four years.
"$1 of toll revenue in September 2021 would illustratively grow to approximately $1.20 in June 2025 and continue compounding thereafter," the report reads.
It comes after the government opened new sections of Westconnex in January, including the M4 tunnels from Haberfield to St Peters in Sydney's inner west, and parts of the Rozelle interchange, which were acquired by Transurban.
The document says further sections of the M7-M12 will be approved imminently.
Transurban also told investors it sees future monetisation opportunities in a series of yet-to-be-completed roads, including the M6, Western Harbour Tunnel, Sydney Harbour Tunnel and Beaches Link.
Labor's spokesperson for roads, John Graham, said Sydney was the most tolled city in the world, and tolls had never escalated to this point before.
"This is a problem of the government's own making - they have signed secret contracts and privatised toll roads," Mr Graham said.
"Those deals are driving these record tolls."
The government announced a review of Sydney's tolling system, which was due for completion in September last year.
Its release has since been delayed until after the state election in March.
"Toll reform is needed in Sydney, but the premier seems to have given up, instead hiding the toll review until after the election," Mr Graham said.
"It should be released immediately."
