By Will Robinson, Reporter, Jacksonville Business Journal; September 28, 2018
CSX Corp. (Nasdaq: CSX) has called upon the U.S. Court of Appeals to overturn a federal regulator’s ruling that CSX calls “contrary to law, clearly erroneous, arbitrary and capricious, an abuse of discretion, and not supported by substantial evidence.”
The Surface Transportation Board ruled Jan. 11 that CSX charged “unreasonably high” rates to Consumers Energy Company, which relies on CSX to ship coal between Chicago and Western Michigan, and ordered CSX to provide $94.9 million in rate relief to the shipper. CSX is to pay reparations and comply with STB caps on its rates through 2024. Despite CSX’s appeals, STB upheld its decision Aug. 2.
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