Quote:
Originally Posted by satishreddy
I too have looked at Condon's numbers. We don't know what assumptions he is making. Here is my simple calclulation
$2.1 billion capital cost
7% annual interest rate
25 year amortization period
Using a mortgage calculator, this means the monthly payment is
14,842,260
If we assume 36,000,000 boardings per year, this means 3,000,000 per month. Assuming 7.5km ride = 4.7 miles, I get 14.1 million (passenger-mile) per month. Hence I compute capital cost at
$14,842,260/14,100,000 (passenger-mile) is about $1.05/passenger-mile. This This compares to $2.34/(passenger-mile) computed by Condon. Of course, he doesn't explain his numbers.
MadMigs: you report in units 1/(passenger-km) and don't include interest in the capital cost, so our numbers are different.
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That is true on both points. Also it is highly doubtful that our gov't is paying 7% interest and even 1% lower makes a significant difference.
Either way, Condon's #'s seem highly suspect for real-world conditions. Either that or he assumed that there would only ever be 50,000 boardings a day or some unreasonable short lifetime. Expo has been going for 25 years now, and apart from some capacity issues, is still more or less working just fine.
Even our numbers are somewhat unreasonable, as we are assuming only 100,000 boardings/day for its lifetime, when really that number will keep growing as time goes on.
As for operating cost, translink's 2009 annual report claims an average cost of $2.50 per vehicle-km or roughly $4 per vehicle-mile. Note: that is
vehicle-km not passenger-km. So taking my earlier number of 87.5 million vehicle-km, that works out to ~$219 million in 25 year lifetime operating costs or $292,000 per month. Converting that to passenger-miles makes it $0.02 per passenger-miles(using your 14.1 million miles/month).
So with using your $1.05 + $0.02 operating, we have $1.07.
Surprisingly Condon uses 4.6 miles as his average trip cost($12.34/$2.66), so with our numbers that makes an average trip about $5. And you'll notice Condon uses 1.6 miles for the average trolley bus trip, 3.6 miles for the average diesel bus trip, 7.8 miles for the explorer, and 8.7 miles for the hybrid. ~8 miles is the distance between Commercial Drive and UBC. I wonder what the averages are for Metro Vancouver. But I highly doubt the average diesel bus trip is only 3.6 miles.