Sec. 104.109. BONDED RATES. (a) A gas utility may put a changed rate into effect by filing a bond with the regulatory authority if the regulatory authority fails to make a final determination within 90 days from the date the proposed increase would otherwise be effective.
(b) The bonded rate may not exceed the proposed rate.
(c) The bond must be:
(1) payable to the regulatory authority in an amount, in a form, and with a surety approved by the regulatory authority; and
(2) conditioned on refund.
(d) The gas utility shall refund or credit against future bills:
(1) money collected under the bonded rates in excess of the rate finally ordered; and
(2) interest on that money, at the current interest rate as determined by the regulatory authority.
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.
Section: Previous 104.102 104.103 104.104 104.105 104.106 104.107 104.108 104.109 104.110 104.111 104.112 104.151 104.152 104.201 104.202 NextLast modified: September 28, 2016