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777
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HARRY HUGHES, Governor
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(d) All fuel rate adjustments as presently approved by the
Commission shall fully terminate effective October 1, 1978 or
upon issuance of a final order by the Commission pursuant to this
section, whichever shall first occur.
(e) The fuel rate may be adjusted in accordance with this
section only if the currently calculated actual fuel rate is more
than 5 percent above or below the sum of the components of the
fuel rate then in effect. An electric company having a decrease
of more than 5 percent shall promptly file an application to
adjust its fuel rate downward. To the extent that actual
accumulated fuel costs are not recovered under this section, they
may be deferred as an operating expense and be recovered in any
base rate proceeding if the Commission finds that the costs were
justified and recovery of the costs is consistent with the
provisions of this article governing rates.
(f) The issues to be determined, and upon which the
Commission shall make specific findings of fact and conclusions
based thereon, shall be whether:
(1) Only changes in the actual costs of the
components of the fuel rate are included in the proposed change;
(2) The applicant has used the most economical mix of
all types of generation and purchase;
(3) The applicant has made every reasonable effort to
minimize fuel costs and followed competitive procurement
practices, TAKING INTO ACCOUNT THE NEED TO MAINTAIN RELIABLE
SOURCES OF SUPPLY RELIABILITY OF LOCAL TRANSPORTATION;
(4) The applicant has maintained the productive
capacity of all its generating plants at a reasonable level.
(g) The Commission may disallow such increased costs as it
finds were a result of the applicant's failure to comply with the
requirements of this section, unless cause be shown to the
contrary.
(h) The applicant's proposed initial direct testimony and
exhibits shall be filed at the same time the application is
filed.
(i) The applicant shall have the burden of proving that it
has complied with the requirements of this section.
(j) The Commission shall report to the General Assembly by
January 15, 1979 and propose such legislation as may be desirable
regarding purchased gas adjustment clauses, purchased power
adjustment clauses, and fuel rates of electric public utility
companies that produce or generate power and whose gross annual
operating revenues do not exceed $25,000,000.
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