A. In order to assure that the rates charged to their customers by public utilities and electric distribution cooperatives which utilize fuel adjustment clauses or purchased power adjustment clauses are just and reasonable, the Commission shall periodically conduct detailed rate investigations of such utilities and cooperatives.
The provisions of this subsection shall not prohibit or otherwise restrict the authority of the Corporation Commission to conduct, whenever necessary, an investigation or review of any such utility or electric distribution cooperative. In addition, this section shall not limit or restrict such utility from requesting and receiving a rate review upon proper application to the Commission.
B. Such investigations shall include public hearings. In such rate investigations or proceedings, income, expenses and investments of affiliated persons, subsidiaries, firms or corporations and emergency and off-system sales of electricity or gas shall be given appropriate consideration by the Commission in determining the financial requirements of the utility or cooperative.
C. However, nothing in this section shall be interpreted to require any public utility or electric cooperative to submit itself to the authority of the Commission for ratemaking purposes if it is not so required by other statutory or constitutional provisions.
Laws 1977, c. 252, § 14, emerg. eff. June 15, 1977; Laws 1987, c. 17, § 2, emerg. eff. April 13, 1987; Laws 1993, c. 231, § 3, emerg. eff. May 26, 1993.