US rail road regulator the Surface Transportation Board said it will consider a major overhaul of rules to force freight-rail companies to compete more aggressively for farmers, coal producers and other shipping customers.
The agency is planning a public hearing in May this year to explore the state of competition in the railroad industry and possible policy initiatives to promote more rail-to-rail competition.
The rules under consideration would make it easier for shippers to challenge rates and to gain access to competing railroads on segments served by a single rail company.
The agency said the initiative is in response to the long-standing concerns of shippers that railroads are raising rates and posting higher profits even though productivity hasn't increased at the same pace.
The agency also said it was sensitive to railroads' concerns that new rules could hurt the industry's financial health and reduce money used for track expansion and maintenance.
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