766                               LAWS OF MARYLAND                        [CH. 441

62. (Just and Reasonable Rates.)

"Just and reasonable rates" means rates which are not in violation
of any of the provisions of this article, and which will result in an
operating income to the public service company, yielding, after
reasonable deduction for depreciation and other necessary and proper
expenses and reserves, a reasonable return upon the fair value of the
company's property used and useful in rendering service to the public.

63. (Suspension of Rates.)

(a)  The commission may suspend, effective forthwith, and without
formal proceedings any new rate proposed by a public service com-
pany. In such case, the commission shall furnish to the proponent
of the rates suspended a statement, in writing, of the reasons for
such suspension. "Unless so suspended, any new rate or change in
rate proposed by the public service company, shall, subject to section
26 (c) of this article, go into effect upon the date specified in the
application.

(b)  The commission shall promptly institute proceedings as to the
justice and reasonableness of the rates suspended. The suspension
may be initially for a period of not more than 120 days beyond the
time when the rates would otherwise go into effect; and if the com-
mission finds that the proceedings cannot be completed within the
period of the initial suspension, it may extend the suspension for an
additional thirty days. After the expiration of 120 days or 150 days,
as the case may be, if no final order has been entered by the com-
mission, the new rate or change in rate shall go into effect, subject
to subsection (c) of this section.

(c)  If a proposed new rate or change of rate effecting an increase
goes into effect before a final order is entered in the said proceedings,
the commission may, where practicable, order the proponent to keep
a detailed and accurate account of all amounts received by reason
of such new rate or increase, and the persons on whose behalf such
amounts are paid, and after the conclusion of said proceedings, re-
quire the proponent to refund, with interest, to every such person,
such part of the new or the increased rates as the commission finds
unjustified. If such refund is not practicable, the company shall
charge off and amortize, by means of a temporary decrease, to be
fixed by the commission, below the rates as finally determined, for
such period as the commission may determine, the difference between
the operating revenues under the rates charge and the operating
revenues that would have been obtained from the same volume of
business from the rates as finally determined.

64. (Temporary Rates.)

(a) The commission may fix for any public service company tem-
porary rates, either higher or lower than those theretofore in force.
Such action may be taken after due hearing if, and only if: (1) the
commission finds pending a final rate proceeding, that the rates in
force are either higher or lower than just and reasonable rates as
defined in section 62 of this article and (2) the commission finds that
such temporary rates are necessary in the interest of justice in view
of the length of time which must elapse before a final order can be
entered. If the temporary schedule involves an increase in rate, and
refund to the consumer is practicable the public service company