Price Cap Decisions The primary responsibility of the Commission is to regulate fares by setting the price cap that establishes the maximum annual increase in average fares. The price cap is set for a four-year performance term. Performance Term 6 2024-2028 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 Applications for Relief