Mizter T wrote in
:

(It's worth noting that the higher Peak fare will be charged if a
passenger touches-in or out anytime during the relevant Peak time-
window. Buses and trams do not charge peak fares, and the daily price
cap for bus and tram journeys of £3 - £3.30 next year - applies
regardless of the time of day, i.e. there is no peak/off-peak divide
when it comes to bus-only capping. Likewise the paper one day Bus Pass
is valid at any time of the day.)

I trust that's all as clear as the muddy Thames?

Isn't the higher peak fare based on when you start your journey (i,e, touch
in for the first time), not when you touch out or touch intermeadiately?

There are journeys where it is worth having two separate Oyster PrePay
cards (e.g. Watford Junction-Euston-U1 leaving Watford say 17.00) as the
cost of the overall journey (£ 6.50, 2009 fares) is more than the sum of
the parts (£ 3.50 to Euston plus £ 1.60 for U1).

David