(a) No public utility which has filed an application with the Arkansas Public Service Commission for a general increase in the utility rates charged by the utility shall be permitted by the commission to file an additional application for a general rate increase until thirty (30) days after the occurrence of whichever of the following events first occurs:
(1) The commission makes a final rate determination as required by § 23-4-409 in the last previous general rate application then under consideration by the commission; or
(2) The ten-month period following the filing of the utility's previous general rate application expires and no final rate determination has been made with respect to the utility's previous general rate application within the ten-month period.
(b) However, an application for a change in rates filed pursuant to § 23-4-501 et seq. shall not be considered a general rate increase for the purposes of this section.
(c) It is the intent and purpose of this section to expedite the orderly and speedy determination by the commission of public utility rate filing applications and to enable the commission to devote sufficient staff time and commission effort in regard thereto without being overburdened by additional rate filings by the same public utility until the rate application then under consideration has been considered and a final decision and order entered by the commission.