There is so much misinformed crap in that video its saddening..
Fares aren't set by the P3's. Its the regional council that sets fares, and they are the ones who decided to set fares at $3.75.
A P3 is a contract to operate and maintain the service on the governments terms, With a competitive bidding process to come to the lowest possible price to deliver the desired services. Its what the new 407 extension will operate like, not the sale of the original. (Government owned, rates set by the province, operations contracted out to Cintra) Control of fares, frequencies, etc. are all still in the publics hands, its simply the day to day operations and maintenance contracts that are awarded to the most competitive bidder. The private corporation involved couldn't give 2 craps about fare prices, increased fare simply benefit the province (the one paying for the operations), the contractor gets the set amount for the completed work no matter what the fare is.