1.  As used in this section, with respect to the sale of natural gas:

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(a) ’Generating customer’ means a customer who generates electricity by burning natural gas.

(b) ’Industrial customer’ means a customer engaged primarily in manufacturing or processing which changes raw or unfinished materials into another form or creates another product.

(c) ’Large commercial customer’ means a customer whose requirements equal or exceed 50,000 cubic feet of natural gas per day on any day and which is an institution, an agency of federal, state or local government, or engaged primarily in renting out offices or other commercial space, in providing lodging or in the sale of other goods or services.

2.  The Commission shall establish standards for the setting, increase or decrease of rates for natural gas to generating, industrial and large commercial customers. These standards must authorize increases or decreases on less than 30 days’ notice. Establishing different classes of customers, and charging different rates to customers of the same class, for these customers do not violate this chapter.

3.  The Commission may, for sales to generating, industrial and large commercial customers:

(a) Exempt the rates for natural gas from those provisions of NRS 704.070, 704.100 and 704.110 that the Commission determines are not needed to protect the public interest.

(b) Authorize the establishment of different classes of customer or the charging of different rates for customers of the same class, based on value of the service and on the customer’s ability to change from one fuel to another.