Public utility rate setting revised.
ENTITLED, An Act to
revise and establish certain provisions regarding the setting of rates for
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That
be amended to read as follows:
Public Utilities Commission
, in the exercise of its power under this
chapter to determine just and reasonable rates for public utilities, shall give due consideration to
the public need for adequate, efficient
and reasonable service and to the need of the
public utility for revenues sufficient to enable it to meet its total current cost of furnishing such
service, including taxes and interest, and including adequate provision for depreciation of its utility
property used and necessary in rendering service to the public, and to earn a fair and reasonable
return upon the value of its property.
Section 2. That chapter
be amended by adding thereto a NEW SECTION to read as
The burden is on the public utility to establish that the underlying costs of any rates, charges,
or automatic adjustment charges filed under this chapter are prudent, efficient, and economical and
are reasonable and necessary to provide service to the public utility's customers in this state.
Signed March 7, 2007