For each asset classified by an electric utility as pre-operational reserve or post-operational reserve pursuant to:

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1.  Subsection 1 of NRS 704.7338, the Commission may, after notice and a hearing pursuant to NRS 704.746, reclassify the asset as surplus if the Commission determines that the asset is no longer used or useful to the customers of the electric utility.

2.  Subsection 2 or 3 of NRS 704.7338, the Commission may, after notice and a hearing pursuant to NRS 703.320, reclassify the asset as surplus if the Commission determines that the asset is no longer utilized to produce or transmit electricity and that it is not reasonable to expect that the asset will be used to produce or transmit electricity in the future.