Casco Bay Lines has approved new ferry rates that will mean higher prices for day trippers, but cheaper fares for residents and other frequent users.
The agency's board of directors overwhelmingly voted for the new rates on Thursday, which will be the first increase in 15 years.
Beginning in June, the cost of a round-trip ticket to Peaks Island will rise from less than $8.00 to $14.00 during the peak summer season, which runs from mid-April to mid-October.
Seniors and children under 18 will be eligible for half-price fare. The price of monthly and annual ticket packages, however, will fall by at least 40%.
Casco Bay Lines Treasurer Jennifer Lavanture told board members Thursday that the service is dealing with a multimillion dollar operating deficit and has relied on grant funding to stay afloat.
She said new rates will help to stabilize funding and avoid other drastic actions, such as cutting service.
"Which would clearly have great impact on those who would live and work, and rely on the ferry service to travel to and from work, our homes," Lavanture said.
Lavanture said that about two-thirds of tickets sold by Casco Bay Lines are single tickets to Peaks, and about 70% of revenue comes from trips to the island. Officials expect the new rates could bring in about half a million dollars of new revenue each year.
"We need a way to help islanders and others who ride the ferry frequently. Those who work on the islands, to keep service successful and affordable as possible," she said.
At Thursday's meeting, many island residents said they supported the plan, but some raised questions about the need for such a large increase. Board members said they planned to regularly evaluate the rates moving forward.
