(Reuters circulated the following report on November 10.)
LOS ANGELES — Norfolk Southern Corp., a freight railroad covering the eastern United States and Ontario, on Monday said it cannot yet assess the earnings impact of a Surface Transportation Board ruling in Duke Energy Corp.’s challenge to its coal shipping rates.
The company, based in Norfolk, Virginia, said the ruling upheld its rates on certain coal movements, but the board also invited Duke to initiate a proceeding to determine whether constrained market pricing guidelines should apply.
Norfolk Southern said it is continuing to bill and collect amounts based on the challenged tariff rates consistent with its past practice. However, due to the passage of time, the ultimate outcome could have a significant effect on results of operations, the company said.