The current system of graduated charges which increase the longer a bike is used are to be replaced by a flat fee of £2 per 30 minutes once the rider has used their initial free half hour period.
On the weekend of Saturday 16th and Sunday 17th August non-members will be able to borrow a bike for free as many times as they like without having to pay the normal £2 daily access fee.
Bringing the capital’s bike hire scheme into the Oyster network would boost usage levels by at least 25% according to Boris’s Johnson transport deputy, Isabel Dedring.
London Assembly members are to examine whether sponsorship of transport services such as the bike hire scheme and cable car delivers value for money to the taxpayer.
Companies are being invited to register their interest in replacing Barclays Bank as sponsors of the capital’s bike hire scheme.