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The Canadian Transportation Agency (CTA) recently ruled that CN's grain revenue of $556.6 million in crop year 2012-13 remained under its revenue cap by $6.3 million, while Canadian Pacific's revenue of $544.2 million only slightly exceeded its cap, by $177,961.During the crop year, more than 32.4 million tons of western grain was moved, which is 2 percent lower than the volume transported in the previous crop year. The 944-mile average length of haul was eight miles, or 0.8 percent, lower than the previous crop year, CTA officials said in a press release.CP now has 30 days to pay the amount by which it exceeded the revenue cap in addition to a 5 percent penalty of $8,898, they said. Government regulations stipulate that such payments must be made to the Western Grains Research Foundation, a farmer-financed and directed organization.The Canadian Transportation Act requires the CTA to set each railroad's revenue cap annually and determine whether each cap was exceeded in a given crop year. Calculated via a formula containing numerous elements, the revenue cap is a form of economic regulation that enables CN and CP to set their own rates, provided the total amount of revenue they collect remains below the set ceiling, CTA officials said.A year ago, the CTA determined that both CN and CP exceeded their revenue caps for crop year 2011-12.
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