1.  A public utility shall annually present to the Commission a certified accounting of the cost of conversion and an accounting of the revenues it has received in that year from the adjustment in its rates.

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2.  When a public utility has fully recovered its share of the cost of conversion and the debt and interest thereon are paid, or at the end of the period set for the recovery, whichever is sooner, it shall:

(a) Stop the adjustment;

(b) Rescind the applicable tariff;

(c) Present the Commission with proof of the public utility’s compliance with all orders of the Commission regarding the adjustment; and

(d) Present the Commission with a complete accounting of the cost of conversion and revenues it has received through the adjustment.

3.  If the proof so presented in subsection 2 shows that the revenue collected pursuant to the adjustment is not equal to the public utility’s share of the cost of the conversion, the Commission shall order any actions necessary to return any excess or collect the amount still needed for full recovery.