392.246. Petition for rate relief--relief to be granted, when. - Missouri Statutes

Petition for rate relief--relief to be granted, when.

392.246. Notwithstanding the provisions of subsection 2 of section392.245, an incumbent local exchange telecommunications company regulatedunder section 392.245 may petition the commission for rate relief under theprovisions of sections 392.220 and 392.230, and the commission may grantsuch rate relief if it determines that the financial condition of suchincumbent local exchange telecommunications company's Missourijurisdictional operations is such that the company cannot attract capitalon reasonable terms or that the ability of that incumbent local exchangetelecommunications company to continue to provide safe and adequateuniversal telecommunications service is threatened. If the commissionshall be of the opinion that the maximum rates, charges or rentalschargeable by such telecommunications company are insufficient to yieldreasonable compensation for the service rendered, the commission shall withdue regard, among other things, to a reasonable average return upon thevalue of the property actually used in the public service and of thenecessity of making reservation out of income for surplus andcontingencies, determine the just and reasonable rates, charges and rentalsto be thereafter observed and in force as the maximum to be charged,demanded, exacted or collected for the performance or rendering of theservice specified and shall fix the same by order served upon suchincumbent local exchange telecommunications company, and thereafter noincrease in any rate, charge or rental so fixed shall be made without theconsent of the commission.

(L. 1996 S.B. 507)