49-34A-25. Automatic adjustment of rates for changes in energy, fuel and gas costs, ad valorem taxes paid or commission approved fuel incentives--Revised rate schedule filed by utility--Filing of bond if commission orders--Order of commission--Appeal. The commission shall permit a public utility to file rate schedules containing provisions for the automatic adjustment of charges for public utility service in direct relation to changes in wholesale rates for energy delivered, the delivered costs of fuel used in generation of electricity, the delivered cost of gas, ad valorem taxes paid, or commission approved fuel incentives. The amended rate schedules shall be filed with the commission on or before the effective date of the change in costs, and if the commission determines that the revised rate schedule is in error, the commission may within ten days of receipt thereof require by order the public utility to file a bond or other security upon such terms and conditions as the commission may require and for such purposes as contained in §§ 49-34A-17 and 49-34A-22. Such rates may go into effect on the date of the change in costs subject to the above refund provisions. Failure of the commission to enter an order in regard thereto shall be deemed approval. The public utility may appeal such order pursuant to and in accordance with § 49-34A-62.
Source: SL 1975, ch 283, § 13; SL 1977, ch 393, § 1; SL 1979, ch 316; SL 1996, ch 276.
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