Hearing on Revenue Adequacy; Railroad Revenue Adequacy, 48982-48983 [2019-20076]

Download as PDF 48982 Federal Register / Vol. 84, No. 180 / Tuesday, September 17, 2019 / Notices addressed to 395 E Street SW, Washington, DC 20423–0001. [Disaster Declaration #16111 and #16112; Filings will be posted to the Board’s For Economic Injury: Louisiana Disaster Number LA–00093] Businesses & Small Agricultural website and need not be served on the Cooperatives without Credit other hearing participants or written Administrative Declaration of a Available Elsewhere .............. 4.000 commenters. Copies of the filings will Disaster for the State of Louisiana Non-Profit Organizations withalso be available (for a fee) by contacting out Credit Available Elsethe Board’s Chief Records Officer at AGENCY: U.S. Small Business where ..................................... 2.750 (202) 245–0238 or 395 E Street SW, Administration. Washington, DC 20423–0001. ACTION: Notice. The number assigned to this disaster FOR FURTHER INFORMATION CONTACT: for physical damage is 16111 8 and for SUMMARY: This is a notice of an Amy Ziehm at (202) 245–0391. economic injury is 16112 0. Administrative declaration of a disaster Assistance for the hearing impaired is The State which received an EIDL for the State of Louisiana dated 09/11/ available through the Federal Relay Declaration # is Louisiana. 2019. Service at (800) 877–8339. (Catalog of Federal Domestic Assistance Incident: Hurricane Barry. SUPPLEMENTARY INFORMATION: In April Number 59008) Incident Period: 07/10/2019 through 2014, the Board instituted a proceeding 07/15/2019. Christopher Pilkerton, in Docket No. EP 722 and invited interested persons to comment on the DATES: Issued on 09/11/2019. Acting Administrator. Board’s methodology for determining Physical Loan Application Deadline [FR Doc. 2019–20052 Filed 9–16–19; 8:45 am] revenue adequacy, the revenue Date: 11/12/2019. BILLING CODE 8026–03–P adequacy component for judging the Economic Injury (EIDL) Loan reasonableness of rail freight rates, and Application Deadline Date: 06/11/2020. ADDRESSES: Submit completed loan SURFACE TRANSPORTATION BOARD what, if any, changes the Board should consider. See R.R. Revenue Adequacy, applications to: U.S. Small Business [Docket No. EP 761; Docket No. EP 722] EP 722 et al., slip op. at 4 (STB served Administration, Processing and Apr. 2, 2014). The Board held a public Disbursement Center, 14925 Kingsport Hearing on Revenue Adequacy; hearing on those issues in 2015.2 Road, Fort Worth, TX 76155. Railroad Revenue Adequacy In January 2018, the Board established FOR FURTHER INFORMATION CONTACT: A. its RRTF with the objectives of AGENCY : Surface Transportation Board. Escobar, Office of Disaster Assistance, developing recommendations to reform U.S. Small Business Administration, ACTION: Notice of Public Hearing. and streamline the Board’s rate review 409 3rd Street SW, Suite 6050, process for large cases, and determining Washington, DC 20416, (202) 205–6734. SUMMARY: The Surface Transportation how to best provide a rate review Board (Board) will hold a public hearing SUPPLEMENTARY INFORMATION: Notice is process for smaller cases. After holding on December 12, 2019, on revenue hereby given that as a result of the informal meetings throughout 2018, the adequacy issues raised in the report Administrator’s disaster declaration, RRTF issued a report on April 25, 2019 issued by the Board’s Rate Reform Task applications for disaster loans may be (RRTF Report).3 The RRTF Report Force (RRTF). The hearing will be held filed at the address listed above or other recommended, among other things, that in the James E. Webb Memorial locally announced locations. the Board consider policy changes Auditorium of the National Aeronautics The following areas have been regarding revenue adequacy. RRTF and Space Administration (NASA), determined to be adversely affected by Report 12–13, 32–42. located at 300 E Street SW, Washington, The Board will hold a public hearing the disaster: DC. All interested persons are invited to on December 12, 2019, and invites Primary Parishes: Allen, Avoyelles, appear.1 interested persons to provide input on Saint Mary. DATES: The hearing will be held on the RRTF’s recommendations regarding Contiguous Parishes: December 12, 2019, beginning at 9:30 revenue adequacy.4 All hearing Louisiana: Assumption, Beauregard, a.m., in NASA’s James E. Webb participants are required to submit Catahoula, Concordia, Evangeline, Memorial Auditorium and will be open written testimony by November 26, Iberia, Jefferson Davis, La Salle, for public observation. Any person Pointe Coupee, Rapides, Saint 2 The Board subsequently clarified that informal wishing to speak at the hearing should Landry, Saint Martin, Terrebonne, discussions between the agency and stakeholders file with the Board a notice of intent to Vernon, West Feliciana. are permitted in the proceeding. See R.R. Revenue participate (identifying the party, The Interest Rates are: Adequacy, EP 722, slip op. at 1–2 (STB served Mar. proposed speaker, and amount of time 28, 2018). 3 The RRTF Report was posted on the Board’s requested) no later than October 31, Percent website on April 29, 2019, and can be accessed at 2019. All hearing participants are required to submit written testimony by https://www.stb.gov/stb/rail/Rate_Reform_Task_ For Physical Damage: Force_Report.pdf. Homeowners with Credit AvailNovember 26, 2019. Written 4 Under 49 U.S.C. 10701(d)(2), when determining able Elsewhere ...................... 3.875 submissions by interested persons who whether a rate is reasonable, the Board is directed Homeowners without Credit to give due consideration to three factors, will not appear at the hearing should Available Elsewhere .............. 1.938 also be filed by November 26, 2019. recognizing the policy that ‘‘rail carriers shall earn Businesses with Credit Availadequate revenues.’’ The Board is required to ‘‘annually determine which rail carriers are earning able Elsewhere ...................... 8.000 ADDRESSES: All filings, referring to adequate revenues.’’ 49 U.S.C. 10704(a)(3); see, e.g., Docket No. EP 761 et al., must be filed Businesses without Credit R.R. Revenue Adequacy—2017 Determination, EP Available Elsewhere .............. 4.000 with the Surface Transportation Board 552 (Sub-No. 22) (STB served Dec. 21, 2018). This Non-Profit Organizations with either via e-filing or in writing annual determination is distinct from long-term jbell on DSK3GLQ082PROD with NOTICES SMALL BUSINESS ADMINISTRATION Credit Available Elsewhere ... Non-Profit Organizations without Credit Available Elsewhere ..................................... VerDate Sep<11>2014 17:05 Sep 16, 2019 Percent 2.750 1 These 2.750 Jkt 247001 proceedings are not consolidated. A single decision is being issued for administrative purposes. PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 revenue adequacy, which ‘‘calls for a company, over time, to average return on investment equal to its cost of capital.’’ Coal Rate Guidelines, Nationwide, 1 I.C.C.2d 520, 536 (1985). E:\FR\FM\17SEN1.SGM 17SEN1 jbell on DSK3GLQ082PROD with NOTICES Federal Register / Vol. 84, No. 180 / Tuesday, September 17, 2019 / Notices 2019. Written submissions by interested persons who will not appear at the hearing should also be filed by November 26, 2019. All participants and interested persons are asked to address the following RRTF recommendations in their written testimony or submissions and at the hearing: • Definition of long-term revenue adequacy: The RRTF recommended determining long-term revenue adequacy by looking at the annual determinations over ‘‘the shortest period of time, not less than five years, that includes both a year in which a recession began and a year that follows a year in which a recession began.’’ RRTF Report 13, 33. • Rate increase constraint: The RRTF recommended considering a rate increase constraint for long-term revenue-adequate carriers, which would identify a point beyond which further application of differential pricing would be unwarranted. See RRTF Report 13, 36–39. • Bottleneck changes: The RRTF recommended considering suspension of the Board’s Bottleneck 5 protections as applied to long-term revenueadequate carriers. See RRTF Report 13, 39–41. • Simplified Stand-Alone Cost (Simplified-SAC) changes: For purposes of considering whether a long-term revenue-adequate carrier’s rate is reasonable under Simplified-SAC, the RRTF recommended reinstating the simplification of the Road Property Investment analysis. See RRTF Report 13, 41–42, & app. B. Board Releases and Transcript Availability: Decisions and notices of the Board, including this notice, are available on the Board’s website at www.stb.gov. The Board will issue a separate notice containing instructions for attendance at the hearing and the schedule of appearances. Please note that streaming and recording systems will not be available for this hearing. As soon as a transcript is available, it will be posted on the Board’s website. It is ordered 1. A public hearing will be held on December 12, 2019, at 9:30 a.m., in the James E. Webb Memorial Auditorium of the National Aeronautics and Space Administration (NASA), located at 300 E Street SW, Washington, DC. 2. By October 31, 2019, any person wishing to speak at the hearing shall file with the Board a notice of intent to participate identifying the party, the 5 See Cent. Power & Light Co. v. S. Pac. Transp. Co., 1 S.T.B. 1059 (1996), clarified, 2 S.T.B. 235 (1997), aff’d sub nom. MidAmerican Energy Co. v. STB, 169 F.3d 1099 (8th Cir. 1999). VerDate Sep<11>2014 17:05 Sep 16, 2019 Jkt 247001 proposed speaker, and the amount of time requested. 3. Written testimony by hearing participants, and written submissions by interested persons who will not appear at the hearing, shall be filed by November 26, 2019. 4. Filings will be posted to the Board’s website and need not be served on any hearing participants or other commenters. 5. This decision is effective on its service date. 6. This decision will be published in the Federal Register. Decided: September 12, 2019. By the Board, Allison C. Davis, Director, Office of Proceedings. Kenyatta Clay, Clearance Clerk. [FR Doc. 2019–20076 Filed 9–16–19; 8:45 am] BILLING CODE 4915–01–P SUSQUEHANNA RIVER BASIN COMMISSION Projects Approved for Consumptive Uses of Water Susquehanna River Basin Commission. ACTION: Notice. AGENCY: This notice lists the projects approved by rule by the Susquehanna River Basin Commission during the period set forth in DATES. DATES: August 1–31, 2019. ADDRESSES: Susquehanna River Basin Commission, 4423 North Front Street, Harrisburg, PA 17110–1788. FOR FURTHER INFORMATION CONTACT: Jason E. Oyler, General Counsel and Secretary to the Commission, telephone: (717) 238–0423, ext. 1312; fax: (717) 238–2436; email: joyler@srbc.net. Regular mail inquiries may be sent to the above address. SUPPLEMENTARY INFORMATION: This notice lists the projects, described below, receiving approval for the consumptive use of water pursuant to the Commission’s approval by rule process set forth in 18 CFR 806.22(e) and § 806.22 (f) for the time period specified above: SUMMARY: Approvals By Rule—Issued Under 18 CFR 806.22(e) 1. Sunoco Pipeline L.P.; Mariner East 2 Pipeline Project (Middlesex Township Municipal Authority); ABR–201908015; Various Municipalities Located In Berks, Cumberland, Dauphin, Lebanon, and York Counties, Pa.; Consumptive Use of Up to 0.288 mgd; Approval Date: August 16, 2019. PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 48983 2. Sunoco Pipeline L.P.; Mariner East 2 Pipeline Project (Altoona Water Authority); ABR–201908016; Various Municipalities Located In Blair and Huntingdon Counties, Pa.; Consumptive Use of Up to 0.200 mgd; Approval Date: August 27, 2019. 3. Sunoco Pipeline L.P.; Mariner East 2 Pipeline Project (Mount Union Municipal Authority); ABR–201908017; Various Municipalities Located In Blair, Huntingdon, Juniata, and Perry Counties, Pa.; Consumptive Use of Up to 0.200 mgd; Approval Date: August 27, 2019. 4. Sunoco Pipeline L.P.; Mariner East 2 Pipeline Project (PA American Water Company—Hershey District); ABR– 201908018; Various Municipalities Located In Dauphin, Lebanon, and Berks Counties, Pa.; Consumptive Use of Up to 0.288 mgd; Approval Date: August 27, 2019. 5. Sunoco Pipeline L.P.; Mariner East 2 Pipeline Project (PA American Water Company—Mechanicsburg District); ABR–201908019; Various Municipalities Located In Cumberland, York, and Dauphin Counties, Pa.; Consumptive Use of Up to 0.266 mgd; Approval Date: August 27, 2019. 6. Sunoco Pipeline L.P.; Mariner East 2 Pipeline Project (Elverson Water Company, Inc.); ABR–201908020; Various Municipalities Located In Dauphin, Lebanon, Berks, and Chester Counties, Pa.; Consumptive Use of Up to 0.070 mgd; Approval Date: August 29, 2019. Water Source Approvals Issued Under 18 CFR 806.22(f) 1. ARD Operating, LLC; Pad ID: COP Tract 289 Pad A; ABR–20090409.R2; McHenry Township, Lycoming County, Pa.; Consumptive Use of Up to 4.0000 mgd; Approval Date: August 2, 2019. 2. Chief Oil & Gas, LLC; Pad ID: Reibson Drilling Pad; ABR– 201407014.R1; Elkland Township, Sullivan County, Pa.; Consumptive Use of Up to 2.5000 mgd; Approval Date: August 2, 2019. 3. Inflection Energy (PA), LLC; Pad ID: Reynolds Well Site; ABR–201908002; Gamble Township, Lycoming County, Pa.; Consumptive Use of Up to 4.0000 mgd; Approval Date: August 2, 2019. 4. Chesapeake Appalachia, L.L.C.; Pad ID: Hunter, ABR–201408001.R1; Windham Township, Wyoming County, Pa.; Consumptive Use of Up to 7.5000 mgd; Approval Date: August 8, 2019. 5. Seneca Resources Company, LLC; Pad ID: CRV Pad C09–G; ABR– 201408002.R1; Shippen Township, Cameron County, Pa.; Consumptive Use of Up to 7.5000 mgd; Approval Date: August 12, 2019. E:\FR\FM\17SEN1.SGM 17SEN1

Agencies

[Federal Register Volume 84, Number 180 (Tuesday, September 17, 2019)]
[Notices]
[Pages 48982-48983]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-20076]


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SURFACE TRANSPORTATION BOARD

[Docket No. EP 761; Docket No. EP 722]


Hearing on Revenue Adequacy; Railroad Revenue Adequacy

AGENCY: Surface Transportation Board.

ACTION: Notice of Public Hearing.

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SUMMARY: The Surface Transportation Board (Board) will hold a public 
hearing on December 12, 2019, on revenue adequacy issues raised in the 
report issued by the Board's Rate Reform Task Force (RRTF). The hearing 
will be held in the James E. Webb Memorial Auditorium of the National 
Aeronautics and Space Administration (NASA), located at 300 E Street 
SW, Washington, DC. All interested persons are invited to appear.\1\
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    \1\ These proceedings are not consolidated. A single decision is 
being issued for administrative purposes.

DATES: The hearing will be held on December 12, 2019, beginning at 9:30 
a.m., in NASA's James E. Webb Memorial Auditorium and will be open for 
public observation. Any person wishing to speak at the hearing should 
file with the Board a notice of intent to participate (identifying the 
party, proposed speaker, and amount of time requested) no later than 
October 31, 2019. All hearing participants are required to submit 
written testimony by November 26, 2019. Written submissions by 
interested persons who will not appear at the hearing should also be 
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filed by November 26, 2019.

ADDRESSES: All filings, referring to Docket No. EP 761 et al., must be 
filed with the Surface Transportation Board either via e-filing or in 
writing addressed to 395 E Street SW, Washington, DC 20423-0001.
    Filings will be posted to the Board's website and need not be 
served on the other hearing participants or written commenters. Copies 
of the filings will also be available (for a fee) by contacting the 
Board's Chief Records Officer at (202) 245-0238 or 395 E Street SW, 
Washington, DC 20423-0001.

FOR FURTHER INFORMATION CONTACT: Amy Ziehm at (202) 245-0391. 
Assistance for the hearing impaired is available through the Federal 
Relay Service at (800) 877-8339.

SUPPLEMENTARY INFORMATION: In April 2014, the Board instituted a 
proceeding in Docket No. EP 722 and invited interested persons to 
comment on the Board's methodology for determining revenue adequacy, 
the revenue adequacy component for judging the reasonableness of rail 
freight rates, and what, if any, changes the Board should consider. See 
R.R. Revenue Adequacy, EP 722 et al., slip op. at 4 (STB served Apr. 2, 
2014). The Board held a public hearing on those issues in 2015.\2\
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    \2\ The Board subsequently clarified that informal discussions 
between the agency and stakeholders are permitted in the proceeding. 
See R.R. Revenue Adequacy, EP 722, slip op. at 1-2 (STB served Mar. 
28, 2018).
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    In January 2018, the Board established its RRTF with the objectives 
of developing recommendations to reform and streamline the Board's rate 
review process for large cases, and determining how to best provide a 
rate review process for smaller cases. After holding informal meetings 
throughout 2018, the RRTF issued a report on April 25, 2019 (RRTF 
Report).\3\ The RRTF Report recommended, among other things, that the 
Board consider policy changes regarding revenue adequacy. RRTF Report 
12-13, 32-42.
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    \3\ The RRTF Report was posted on the Board's website on April 
29, 2019, and can be accessed at https://www.stb.gov/stb/rail/Rate_Reform_Task_Force_Report.pdf.
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    The Board will hold a public hearing on December 12, 2019, and 
invites interested persons to provide input on the RRTF's 
recommendations regarding revenue adequacy.\4\ All hearing participants 
are required to submit written testimony by November 26,

[[Page 48983]]

2019. Written submissions by interested persons who will not appear at 
the hearing should also be filed by November 26, 2019. All participants 
and interested persons are asked to address the following RRTF 
recommendations in their written testimony or submissions and at the 
hearing:
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    \4\ Under 49 U.S.C. 10701(d)(2), when determining whether a rate 
is reasonable, the Board is directed to give due consideration to 
three factors, recognizing the policy that ``rail carriers shall 
earn adequate revenues.'' The Board is required to ``annually 
determine which rail carriers are earning adequate revenues.'' 49 
U.S.C. 10704(a)(3); see, e.g., R.R. Revenue Adequacy--2017 
Determination, EP 552 (Sub-No. 22) (STB served Dec. 21, 2018). This 
annual determination is distinct from long-term revenue adequacy, 
which ``calls for a company, over time, to average return on 
investment equal to its cost of capital.'' Coal Rate Guidelines, 
Nationwide, 1 I.C.C.2d 520, 536 (1985).
---------------------------------------------------------------------------

     Definition of long-term revenue adequacy: The RRTF 
recommended determining long-term revenue adequacy by looking at the 
annual determinations over ``the shortest period of time, not less than 
five years, that includes both a year in which a recession began and a 
year that follows a year in which a recession began.'' RRTF Report 13, 
33.
     Rate increase constraint: The RRTF recommended considering 
a rate increase constraint for long-term revenue-adequate carriers, 
which would identify a point beyond which further application of 
differential pricing would be unwarranted. See RRTF Report 13, 36-39.
     Bottleneck changes: The RRTF recommended considering 
suspension of the Board's Bottleneck \5\ protections as applied to 
long-term revenue-adequate carriers. See RRTF Report 13, 39-41.
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    \5\ See Cent. Power & Light Co. v. S. Pac. Transp. Co., 1 S.T.B. 
1059 (1996), clarified, 2 S.T.B. 235 (1997), aff'd sub nom. 
MidAmerican Energy Co. v. STB, 169 F.3d 1099 (8th Cir. 1999).
---------------------------------------------------------------------------

     Simplified Stand-Alone Cost (Simplified-SAC) changes: For 
purposes of considering whether a long-term revenue-adequate carrier's 
rate is reasonable under Simplified-SAC, the RRTF recommended 
reinstating the simplification of the Road Property Investment 
analysis. See RRTF Report 13, 41-42, & app. B.
    Board Releases and Transcript Availability: Decisions and notices 
of the Board, including this notice, are available on the Board's 
website at www.stb.gov. The Board will issue a separate notice 
containing instructions for attendance at the hearing and the schedule 
of appearances. Please note that streaming and recording systems will 
not be available for this hearing. As soon as a transcript is 
available, it will be posted on the Board's website.
    It is ordered
    1. A public hearing will be held on December 12, 2019, at 9:30 
a.m., in the James E. Webb Memorial Auditorium of the National 
Aeronautics and Space Administration (NASA), located at 300 E Street 
SW, Washington, DC.
    2. By October 31, 2019, any person wishing to speak at the hearing 
shall file with the Board a notice of intent to participate identifying 
the party, the proposed speaker, and the amount of time requested.
    3. Written testimony by hearing participants, and written 
submissions by interested persons who will not appear at the hearing, 
shall be filed by November 26, 2019.
    4. Filings will be posted to the Board's website and need not be 
served on any hearing participants or other commenters.
    5. This decision is effective on its service date.
    6. This decision will be published in the Federal Register.

    Decided: September 12, 2019.

    By the Board, Allison C. Davis, Director, Office of Proceedings.
Kenyatta Clay,
Clearance Clerk.
[FR Doc. 2019-20076 Filed 9-16-19; 8:45 am]
 BILLING CODE 4915-01-P