Notice2026-20878
Railroad Revenue Adequacy-2025 Determination
Primary source
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Published
October 13, 2026
Effective
October 8, 2026
Issuing agencies
Surface Transportation Board
Abstract
On October 8, 2026, the Board served a decision announcing the 2025 revenue adequacy determinations for the nation's Class I railroads. Four Class I railroads (BNSF Railway Company, CSX Transportation, Inc., Norfolk Southern Combined Railroad Subsidiaries, and Union Pacific Railroad Company) were found to be revenue adequate.
Full Text
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<title>Federal Register, Volume 91 Issue 196 (Tuesday, October 13, 2026)</title>
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[Federal Register Volume 91, Number 196 (Tuesday, October 13, 2026)]
[Notices]
[Page 65025]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-20878]
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SURFACE TRANSPORTATION BOARD
[Docket No. EP 552 (Sub-No. 30)]
Railroad Revenue Adequacy--2025 Determination
AGENCY: Surface Transportation Board.
ACTION: Notice of decision.
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SUMMARY: On October 8, 2026, the Board served a decision announcing the
2025 revenue adequacy determinations for the nation's Class I
railroads. Four Class I railroads (BNSF Railway Company, CSX
Transportation, Inc., Norfolk Southern Combined Railroad Subsidiaries,
and Union Pacific Railroad Company) were found to be revenue adequate.
DATES: This decision is effective on October 8, 2026.
FOR FURTHER INFORMATION CONTACT: Dylan Richmond, (202) 915-0962. If you
require an accommodation under the Americans with Disabilities Act,
please call (202) 245-0245.
SUPPLEMENTARY INFORMATION: Under 49 U.S.C. 10704(a)(3), the Board is
required to make an annual determination of railroad revenue adequacy.
A railroad is considered revenue adequate under 49 U.S.C. 10704(a) if
it achieves a rate of return on net investment (ROI) equal to at least
the current cost of capital for the railroad industry. For 2025, this
number was determined to be 9.79% in Railroad Cost of Capital--2025, EP
558 (Sub-No. 29) (STB served September 10, 2026). The Board then
applied this revenue adequacy standard to each Class I railroad. Four
Class I carriers (BNSF Railway Company, CSX Transportation, Inc.,
Norfolk Southern Combined Railroad Subsidiaries, and Union Pacific
Railroad Company) were found to be revenue adequate for 2025.
The decision in this proceeding is posted at <a href="http://www.stb.gov">www.stb.gov</a>.
Decided: October 7, 2026.
By the Board, Board Members Fuchs, Hedlund, Kloster, and
Schultz.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. 2026-20878 Filed 10-9-26; 8:45 am]
BILLING CODE 4915-01-P
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</html>Indexed from Federal Register on October 13, 2026.
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