(a) The Arkansas Public Service Commission shall have the power to investigate all existing or proposed interstate rates, charges, and classifications, and all rules and practices in relation thereto promulgated and prescribed by or for any public utility as defined in § 23-1-101, when the matters so investigated shall affect the public of this state.
(b) When the existing or proposed interstate rates, charges, and classifications are in the opinion of the Arkansas Public Service Commission excessive or discriminatory or in violation of any act of the United States Congress or in conflict with the rules, orders, or regulations of a commission created by the United States Congress, the Arkansas Public Service Commission may seek relief in the appropriate commission or in a court of competent jurisdiction.
(c) For the purpose of this section, the Arkansas Public Service Commission:
(1) Is exempt from the provisions of § 25-16-702 whenever the Arkansas Public Service Commission is a party to a proceeding under subsection (b) of this section;
(2) May retain contract attorneys or contract consultants; and
(3)
(A) May adopt rules for direct recovery of the fees and expenses of contract attorneys and consultants from the affected utility under this section, provided that the utility is an electric public utility that is owned by a public utility holding company as defined by section 1262 of the Energy Policy Act of 2005, Pub. L. No. 109-58. The maximum amount that may be directly recovered from an affected utility shall be three million dollars ($3,000,000) annually.
(B)
(i) In the event the Arkansas Public Service Commission directly recovers the fees and expenses of its attorneys and consultants from an affected utility under this section, that utility shall be allowed to implement a surcharge mechanism to recover only the expenses directly recovered from that utility.
(ii) The surcharge shall be established annually to recover only the amounts directly recovered from that utility during the preceding calendar year.
(iii) The surcharge mechanism shall include provisions to address any excessive or deficient recoveries during the preceding calendar year. The surcharge shall not include any interest or carrying charges.
(iv) Any surcharge must be approved by the Arkansas Public Service Commission before it can be implemented.