Price Cap Decisions The primary responsibility of the Commission is to regulate fares by setting price caps that establish the maximum annual increase in average fares. Price caps are set for a four-year performance term. Performance Term 5 2020-2024 Performance Term 4 2016-2020 Performance Term 3 2012-2016 Performance Term 2 2008-2012 Performance Term 1 2004-2008 How is the Price Cap Determined? Applications for Relief