Minister for Transport Martin Cullen has rejected applications by CIÉ and the Railway Procurement Agency to increase bus and rail fares by 9 per cent next year and opted to allow a 2.75 rise instead.
Last month, CIÉ submitted a request to the Department of Transport for the increases in its three companies, Iarnród Éireann, Bus Éireann and Dublin Bus.
It said the 9 per cent rise would include a 6 per cent rise in fares and a 3 per cent increase to cover fuel costs.
The RPA had sought permission to raise Luas fares by 3.45 per cent.
Mr Cullen said he had examined applications by CIÉ and the RPA and decided to allow a rise of 2.75 per cent.
In a statement, Mr Cullen said he was "conscious of the requirement to achieve a balance of the impact on the customers of CIÉ and RPA with the need to sustain the financial health of the companies".
