North Carolina General Statutes 62-133.7A. Rate adjustment mechanism for natural gas local distribution company rates
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Terms Used In North Carolina General Statutes 62-133.7A
- Commission: means the North Carolina Utilities Commission. See North Carolina General Statutes 62-3
- 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
In setting rates for a natural gas local distribution company in a general rate case proceeding under N.C. Gen. Stat. § 62-133, the Commission may adopt, implement, modify, or eliminate a rate adjustment mechanism to enable the company to recover the prudently incurred capital investment and associated costs of complying with federal gas pipeline safety requirements, including a return based on the company’s then authorized return. The Commission shall adopt, implement, modify, or eliminate a rate adjustment mechanism authorized under this section only upon a finding by the Commission that the mechanism is in the public interest. (2013-54, s. 1.)