§ 4-206. Rate base -- Valuation

   (a) In general. -- At any time, the Commission may investigate and determine the fair value of the property of a public service company used and useful in providing service to the public.

(b) Finality; protest. --

   (1) The valuation:

      (i) is not final until the Commission:

         1. serves on the public service company a copy of the order setting the proposed valuation and the method used to set the valuation; and

         2. allows a reasonable time in which to file a protest; and

      (ii) is final if a protest is not filed within the time specified in the order.

   (2) If a timely protest is filed, the Commission shall enter a final valuation by order after hearing.

(c) Prima facie evidence. -- All final valuations are prima facie evidence of value in proceedings under this division.

HISTORY: An. Code 1957, art. 78, § 72; 1998, ch. 8, § 2; 2010, ch. 52.