The division shall supervise and regulate every CATV company operating within this state so far as may be necessary to prevent the operation from having detrimental consequences to the public interest, and for this purpose may promulgate and enforce such reasonable rules and regulations as it may deem necessary with reference to issuance of certificates, territory of operation, abandonment of facilities, elimination of unjust discrimination among subscribers, financial responsibility, and insurance covering personal injury and property damage, safety of equipment and operation, and filing of reports. No certificates shall be issued or remain valid unless the applicant has filed with the division and revised to keep current a schedule of rates and charges for its services. The rates and charges shall be reasonably compensatory so as not to encourage unfair or destructive competitive practices and shall be applied without discrimination. The cable television section of the division of public utilities and carriers shall take all necessary steps to ensure that Rhode Island shall regulate the rates charged by cable television companies to the full extent allowable under federal law; provided, however, the division shall hold public hearings and the cable television companies shall justify and explain at the hearings the necessity for all rate increases of regulated rates. This section shall constitute authority to make any and all certifications to the Federal Communications Commission required under the Cable Television Consumer Protection and Competition Act of 1992, Pub. L. No. 102-385.