To reach a perfect competition on the tracks, new market based approaches to train timetabling needs to be investigated. In this paper, a process for dynamic pricing of track capacity is suggested. The process includes methods for calculating the supply of and demand for track capacity for an application for delivery commitments. These methods make it possible to apply techniques for dynamic pricing on the timetabling problem to find a market based price of a set of delivery commitments. Track capacity in high demand will thus get a higher price than capacity in less requested times and tracks, thus encouraging operators to avoid to request delivery commitments for trains to be operated during the most congested hours of the day. Subsequently, the congestion can be reduced and the timetabling process will be fair and flexible. © 2017 The Authors.