North Carolina General Statutes 62-133.11. Rate adjustment for changes in costs based on third-party rates
Terms Used In North Carolina General Statutes 62-133.11
- Commission: means the North Carolina Utilities Commission. See North Carolina General Statutes 62-3
- public utility: except as otherwise expressly provided in this Chapter, shall not include the following:
- Rate: means every compensation, charge, fare, tariff, schedule, toll, rental and classification, or any of them, demanded, observed, charged or collected by any public utility, for any service product or commodity offered by it to the public, and any rules, regulations, practices or contracts affecting any such compensation, charge, fare, tariff, schedule, toll, rental or classification. See North Carolina General Statutes 62-3
- Service: means any service furnished by a public utility, including any commodity furnished as a part of such service and any ancillary service or facility used in connection with such service. See North Carolina General Statutes 62-3
(a) The Commission shall permit a water or sewer public utility to adjust its rates approved pursuant to N.C. Gen. Stat. § 62-133 to reflect changes in costs based solely upon changes in the rates imposed by third-party suppliers of purchased water or sewer service, including applicable taxes and fees.
(b) Any water or sewer public utility seeking to adjust its rates pursuant to this section shall file a verified petition in such form and detail as the Commission may require.
(c) The Commission shall issue an order approving, denying, or approving with modifications a rate adjustment requested pursuant to this section within 60 days of the date of filing of a completed petition, unless that time is for good cause extended up to a maximum of 90 days. (2013-106, s. 1.)