This has been a long time in the coming - TfL have been pushing for it
for years!

TfL press release:
http://www.tfl.gov.uk/corporate/media/newscentre/24232.aspx

Archived URL will be:
http://www.tfl.gov.uk/corporate/media/newscentre/archive/24232.aspx

Selected extracts...

---quote---
*Green light for London to charge utility companies who dig at the
busiest times and cause congestion*

Transport for London introduces targeted and avoidable charge for
digging up Capital's most congested areas.
[...]
London has become the first city in the UK to charge utility companies
for the amount of time that they dig up the Capital's busiest roads.
[...]
From today onwards TfL is able to charge utility firms up to £2,500 a
day for working in congested areas and at busy times of the day.

The scheme covers over 200 miles (57 per cent) of the TfL road network,
covering the areas most susceptible to major roadwork disruption.

TfL is not exempt from the rules and the new scheme will also ensure
that their works are delivered with minimal disruption.

Currently, around 70 per cent of TfL works are carried out outside of
peak hours, compared to around 20 per cent of utility works.
By encouraging companies to carry out their work overnight or during
off-peak hours, all road users - including drivers, cyclists and bus
passengers - will benefit from more reliable journey times and less
disruption.

More than 270 Metropolitan Police Service Traffic-trained Police
Community Support Officers, who are funded by TfL and patrol the TfL
roads on a daily basis, will play a key role in monitoring works under
the Lane Rental scheme.

Together with TfL officials, they will monitor roadworks to ensure
promoters are working during operational hours and take any action
required should they spot bad practices by the companies responsible for
the works.

Any additional revenue raised by the scheme once operating costs have
been recovered will be put towards measures that could reduce disruption
from roadworks, to be jointly overseen by TfL and the major utility
companies.
---/quote---


This follows on from the introduction in 2010 of the London Permit
Scheme for roadworks (which will continue to operate).

I'm sometimes minded to think that roadworks companies are running some
kind of elaborate scam whereby pipes and cables break at (in)opportune
intervals in order for the work to keep rolling in, but I think the
reality of an ageing infrastructure that has developed more by piecemeal
than by planning along with ever heavier traffic (in both senses of the
word) is more likely. (Still, it would have helped if Thames Water had
gradually replaced their water mains over the years rather than waking
up a while back and realising that a mass replacement programme was
suddenly needed...)

Now, is there any chance of a lane rental scheme for drivers who decide
they want to execute a three-point turn (and hash it up into a
seven-point turn) in the middle of say the Harrow Road during the
evening rush?