WGRF to Receive Payment from CP and CN Rail
WGRF is set to receive $672,329 from the Canadian Pacific Railway Company (CP) and the Canadian National Railway Company (CN). The Canadian Transportation Agency announced on December 19, 2012 that Canadian National Railway and Canadian Pacific Railway both exceeded their railway revenue caps for the 2011-12 crop year:
- CN’s grain revenue of $542,756,316 was $240,185 above its cap of $542,516,131.
- CP’s grain revenue of $494,436,705 was $400,132 above its revenue cap of $494,036,573.
CN and CP now have until January 19, 2013 to appeal the ruling or pay the amount by which they exceeded their 2011-2012 revenue caps, in addition to a five percent penalty of $12,009 and $20,006, respectively.
The news release on the ruling is available from the Canadian Transportation Agency website at www.cta-otc.gc.ca.