1.  The Commission shall by regulation require each public utility which furnishes electricity to provide lower rates for electricity for irrigation pumps under a schedule which:

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(a) Will be applied:

(1) From March 1 to October 31, inclusive; and

(2) If the customer concedes to the utility a right to interrupt services to the customer’s irrigation pumps under conditions established by the utility and approved by the Commission.

(b) Provides for a maximum rate for interruptible service per kilowatt-hour of electricity used. The rate must be determined by dividing the sum of the lowest charge per kilowatt-hour offered by each public utility and each cooperative association under any of its rate schedules applicable to its residential, commercial or industrial customers or members in Nevada by the total number of public utilities and cooperative associations which furnish electricity in this State. No charges may be included for minimum billings or costs relating to standby, customers or demand. A public utility or cooperative association shall provide such information as is necessary for the Commission to determine the maximum rate for interruptible service pursuant to this section.

2.  As used in this section:

(a) ’Cooperative association’ means a cooperative association, nonprofit cooperation or association or any other provider of services described in this chapter that supplies those services for the use of its members; and

(b) ’Public utility’ includes a municipal utility as defined in NRS 702.060.