378:3-a Fuel Adjustment Charge. –
I. In this section "fuel adjustment charge" means a charge designed to cover increases and decreases in the cost of purchased electric power for a public utility purchasing electric power and increases and decreases in the delivered cost of fuel to the generating plant site for a public utility generating its own electric power.
II. No public utility which generates its own electric power may levy a fuel adjustment charge unless it secures approval from the commission subsequent to a public hearing held at least 7 days prior to the first day of each month in which the charge is to be levied.
III. Any public utility which does not generate its own electric power that purchases electric power already subject to a fuel adjustment charge approved by the regulatory agency having jurisdiction over said charge shall not be required to secure approval from the commission by public hearing prior to passing on the fuel adjustment charge in the cost of purchased electric power to its customers.
Source. 1976, 58:1. 1979, 18:1, eff. March 27, 1979.