(a) A member cooperative may propose a modification of its retail rates and charges to incorporate the proposed change in the generation and transmission cooperative's wholesale rates and charges filed under § 23-4-1104 if:
(1) The member cooperative files its application for a modification of its retail rates and charges with the Arkansas Public Service Commission on the same date as the generation and transmission cooperative files its application for a modification of its change in wholesale rates and charges under § 23-4-1104; and
(2) The member cooperative apportions its proposed change in rates and charges in a manner that reflects, as closely as practicable, its cost of providing service to each class.
(b) Within ninety (90) days after a member cooperative files its application under subsection (a) of this section, the commission shall review and approve the modification of the rates and charges of a member cooperative's retail rates and charges that reasonably reflect those changes in the generation and transmission cooperative's wholesale rates and charges that were approved by the commission under § 23-4-1104.