Union Pacific Urges Metra to Accept Market-Based Rail Line Use Agreement

Reuters
22 May
Union Pacific Urges Metra to Accept Market-Based Rail Line Use Agreement

Union Pacific Railroad has urged Metra to agree to a new financial settlement for the use of its rail lines, proposing rates that reflect market value. The contract offers Metra flexibility in its financial commitments, determined by service schedules and train numbers using Union Pacific's tracks. Despite these changes, service for millions of Chicago commuters using Metra will remain unaffected. Union Pacific emphasizes that for more than a decade, Metra has benefited from rates below commercial market value, and hopes the new agreement will prevent further costly litigation. The revised rates, aligned with other passenger agreements in states like Illinois, Colorado, and California, are set to take effect on July 1. Union Pacific has been seeking a fair resolution with Metra for nearly six years, and as a private company, it stresses the necessity of fiscal responsibility to its stakeholders.

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