OTTAWA — The Canadian Transportation Agency says Canadian Pacific Kansas City Railway Co. exceeded its maximum grain revenue entitlements for the 2023 to 2024 crop year.
The agency says CPKC's revenue was $1.8 million above its entitlement of $869.89 million.
It says the railway must pay the excess, plus a five per cent penalty of $91,204, to the Western Grains Research Foundation.
The agency says Canadian National Railway Co. was $34.3 million below its entitlement of $1.248 billion.
It says the 2023 to 2024 crop year saw a 3.5 per cent decrease in volumes from the previous year to 43.7 million tonnes, mainly because of lower crop exports.
The system that sets the maximum grain revenue for the two railways in 2000 replaced a previous system that set the maximum rates railways could charge shippers.
This report by The Canadian Press was first published Dec. 24, 2024.
The Canadian Press