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19 May 2008 -- Federal regulators ordered Union Pacific Corp. to lower the rates it charges the Kansas City Power and Light Co. for delivering Wyoming coal to a power plant in Missouri, according to the Associated Press. The Surface Transportation Board ordered the new rate to apply to all deliveries since 2006. The new lower rate will continue through 2015.

The Omaha-based railroad must pay the utility $2.9 million for overcharges since 2006. Including that payment, regulators estimate the decision will cost Union Pacific about $30 million over the life of the contract. Regulators determined that Union Pacific's rates exceeded what the railroad and utility had agreed upon.

A Union Pacific spokesman said the railroad would likely appeal the ruling.

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