STB to allow hearing on Berkshire Hathaway premium
Basin Electric will now have an opportunity to express concerns to the STB on the impact the Berkshire Hathaway premium will have on rates.
Basin Electric Power Cooperative
- September 30, 2011
On Sept. 28, the Surface Transportation Board (STB) announced it has initiated a public proceeding to determine the effects the Berkshire Hathaway premium paid when it acquired BNSF in 2010 may have on shippers.
The declaratory order will allow stakeholders and the public to bring their cases to the board. Read the document: http://bit.ly/STBOrder.
STB’s decision comes after the Western Coal Traffic League filed a petition asking the board to consider the issue and initiate the proceeding. Western Coal Traffic League represents coal consumers west of the Mississippi River. Basin Electric was fully supportive of the petition and though the cooperative is not directly involved in it, Basin Electric is a member of Western Fuels Association, which is part of the Western Coal Traffic League, and the premium would impact Basin Electric’s shipping rates.
“We are pleased with this decision,” said Ron Harper, Basin Electric CEO and general manager. “We have always held the position that passing the $7.6 billion premium through to rail customers is inappropriate. Shippers deserve an opportunity to make their case, and STB’s announcement this week gives us that opportunity.”
Read more about the premium issue in “A fight for fairness,” http://bit.ly/FightForFairness.
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1717 East Interstate Avenue
Bismarck, ND 58503-0564 USA
Phone: 701.223.0441
Basin Electric Power Cooperative will provide cost-effective wholesale energy along with products and services that support and unite rural America.
