Canada’s transportation regulator has ruled that CPKC exceeded its maximum grain revenue entitlement for the 2024–2025 crop year, while CN remained below its cap. CPKC collected about $2.66 million more than allowed and must repay that amount plus a 5% penalty to the Western Grains Research Foundation. CN’s revenue came in roughly $5.9 million below its permitted ceiling. The ruling comes as Western grain shipments rose 12.1% year-over-year to 49.0 million tonnes, reflecting higher volumes moved by both railways. The maximum revenue entitlement system allows railways to set rates so long as total revenue stays within the regulator’s ceiling.
